Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Trung Nguyen

Senior Credit Analyst

Credit

<p><br/> Japfa Comfeed's 9M/20 results continued to be worse than expected (following the dismal Q2), as the impact of COVID-19 reduced consumers' purchasing power and hence demand. However, we note that the pace of revenue contraction has eased and profitability seems to be stabilising. Most encouragingly, we highlight the positive FCF in Q3, which was driven by solid OCF and reduced capex. We expect continued q-o-q improvement in Q4. The leverage profile has deteriorated sharply, with higher debt and lower earnings. Coverage ratios were mixed. Liquidity remains weak due to the high short-term debt.<br/></p>

  Japfa Comfeed's 9M/20 results continued to be worse than expected (following the dismal Q2), as the impact of COVID-19 reduced consumers' purchasing power and hence demand. However, we note that the pace of revenue contraction has eased and profitability seems to be stabilising. Most encouragingly, we highlight the positive FCF in Q3, which was driven by solid OCF and reduced capex. We expect continued q-o-q improvement in Q4. The leverage profile has deteriorated sharply, with higher debt and lower earnings. Coverage ratios were mixed. Liquidity remains weak due to the high short-term debt. 

Japfa Comfeed - Earnings Flash - 9M FY 2020 Results - Lucror Analytics

Japfa Comfeed Indonesia

Japfa Comfeed - Earnings Flash - 9M FY 2020 Results - Lucror Analytics