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

Leonard Law, CFA

Senior Credit Analyst

Credit

Tunas Baru Lampung’s FY 2018 results were soft. Gross profit from the sugar segment declined 11% y-o-y, owing to lower volumes and slightly weaker prices. This was partly offset by a steady performance from the palm oil segment, which reported revenue growth of 4% and stable margins. Negatively, OCF generation was minimal on account of high working capital outflows. As a result, debt remained higher than expected. The financial profile weakened, with Debt/EBITDA at 3.3x (FY 2017: 2.6x). Management expects expansionary capex to be curtailed, which should support the deteriorating financial profile. That said, we will monitor the company's volatile working capital movements.  .

   Tunas Baru Lampung’s FY 2018 results were soft. Gross profit from the sugar segment declined 11% y-o-y, owing to lower volumes and slightly weaker prices. This was partly offset by a steady performance from the palm oil segment, which reported revenue growth of 4% and stable margins.    Negatively, OCF generation was minimal on account of high working capital outflows. As a result, debt remained higher than expected. The financial profile weakened, with Debt/EBITDA at 3.3x (FY 2017: 2.6x). Management expects expansionary capex to be curtailed, which should support the deteriorating financial profile. That said, we will monitor the company's volatile working capital movements.  . 

Tunas Baru - Earnings Flash - FY 2018 Results - Lucror Analytics