Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1

[fabriziof]

Scusate ma cosa sono i Soberanos?

i titoli di stato

 

[seneca]

i bond del venezuela

Titolo di stato del Venezuela. Grazie

 

[jackbond]

Il bond 6,5% 2019 oggi quota 75 (+1%)

Ovako broadens restructuring program 2016-2017
The restructuring program that Ovako launched in November 2015 is being broadened. The annual cost saving for the entire program is now increased from EUR 45 million to EUR 50 million, with full effect in 2018. The planned reduction of employee numbers is also increased from 250 to 300.

"The restructuring program that was launched in November is progressing well. We have now identified ways to further reinforce our restructuring program to strengthen our competitiveness in the market. It is of the utmost importance to reduce costs and ensure the future strength of our business," says Marcus Hedblom, CEO at Ovako.

Several initiatives from the initial plan are progressing according to plan:
Closure of the Forsbacka production and distribution unit is planned to be finalized during 2016.

• Closure of the distribution center in Turenki and consolidation of Ovako’s distribution in Finland is planned to be finalized during 2016.
• Workforce reductions in the steel and rolling mill in Hofors were achieved ahead of schedule in December 2015 by transitioning from 4 to 3 shifts.

Approximately 140 employees have so far left the company under the program.

The restructuring plan is being reinforced in several areas:

• The new organization that was launched in March enables reduced structural site costs in Hofors and Hällefors, and in the commercial organization.
• Reduced site costs in Business Unit Imatra and SmeBox through increased productivity.
• Increased energy savings with positive implications for costs and our environmental footprint.
• Reduced purchasing costs.

As a consequence of the planned increases in productivity in all our sites, our focus will be on implementing the above savings rather than the previously announced, and more time-consuming and complex, process of closing the Hällefors rolling mill. The Hällefors rolling mill will therefore remain in operation and continue to serve our customers.

The program will still include a maintained focus on continuous improvements in production and administration across the group. Detailed planning of the implementation, and negotiations with local labor unions, will start as needed.

The total program targets cost savings of EUR 50 million annually, with a net reduction of 300 employees in the group. The program will be implemented over two years, with full effect from 2018. For full-year 2016 the savings are estimated to EUR 20 million. Work continues to evaluate whether further cost savings can be achieved within the restructuring program.

Previously announced restructuring costs and capital expenditures for the program are estimated to remain unchanged.

"We are reinforcing the program as a proactive way of meeting the current market conditions and securing the future success of Ovako. We will use all our resources to manage personnel redundancies in a responsible way,” concludes Marcus Hedblom.

Ovako will publish its report for the second quarter on July 15, 2016.

Further information can be obtained from:
Elina Olsson, Group Communications, +46 (0)8 622 13 22

Ovako develops high-tech steel solutions for, and in cooperation with, its customers in the bearing, transport and manufacturing industries. Our steel makes our customers’ end products more resilient and extends their useful life, ultimately resulting in smarter, more energy-efficient and more environmentally-friendly products.

Our production is based on recycled scrap and includes steel in the form of bar, tube, ring and pre-components. Ovako is represented in more than 30 countries, and has sales offices in Europe, North America and Asia. Ovako’ssales in 2015 amounted to EUR 834 million, and the company had 2,905 employees at year-end. For more information, please visit us at www.ovako.com

 

[whitesoul9]

Il bond 6,5% 2019 oggi quota 75 (+1%)

Ovako broadens restructuring program 2016-2017
The restructuring program that Ovako launched in November 2015 is being broadened. The annual cost saving for the entire program is now increased from EUR 45 million to EUR 50 million, with full effect in 2018. The planned reduction of employee numbers is also increased from 250 to 300.

"The restructuring program that was launched in November is progressing well. We have now identified ways to further reinforce our restructuring program to strengthen our competitiveness in the market. It is of the utmost importance to reduce costs and ensure the future strength of our business," says Marcus Hedblom, CEO at Ovako.

Several initiatives from the initial plan are progressing according to plan:
Closure of the Forsbacka production and distribution unit is planned to be finalized during 2016.

• Closure of the distribution center in Turenki and consolidation of Ovako’s distribution in Finland is planned to be finalized during 2016.
• Workforce reductions in the steel and rolling mill in Hofors were achieved ahead of schedule in December 2015 by transitioning from 4 to 3 shifts.

Approximately 140 employees have so far left the company under the program.

The restructuring plan is being reinforced in several areas:

• The new organization that was launched in March enables reduced structural site costs in Hofors and Hällefors, and in the commercial organization.
• Reduced site costs in Business Unit Imatra and SmeBox through increased productivity.
• Increased energy savings with positive implications for costs and our environmental footprint.
• Reduced purchasing costs.

As a consequence of the planned increases in productivity in all our sites, our focus will be on implementing the above savings rather than the previously announced, and more time-consuming and complex, process of closing the Hällefors rolling mill. The Hällefors rolling mill will therefore remain in operation and continue to serve our customers.

The program will still include a maintained focus on continuous improvements in production and administration across the group. Detailed planning of the implementation, and negotiations with local labor unions, will start as needed.

The total program targets cost savings of EUR 50 million annually, with a net reduction of 300 employees in the group. The program will be implemented over two years, with full effect from 2018. For full-year 2016 the savings are estimated to EUR 20 million. Work continues to evaluate whether further cost savings can be achieved within the restructuring program.

Previously announced restructuring costs and capital expenditures for the program are estimated to remain unchanged.

"We are reinforcing the program as a proactive way of meeting the current market conditions and securing the future success of Ovako. We will use all our resources to manage personnel redundancies in a responsible way,” concludes Marcus Hedblom.

Ovako will publish its report for the second quarter on July 15, 2016.

Further information can be obtained from:
Elina Olsson, Group Communications, +46 (0)8 622 13 22

Ovako develops high-tech steel solutions for, and in cooperation with, its customers in the bearing, transport and manufacturing industries. Our steel makes our customers’ end products more resilient and extends their useful life, ultimately resulting in smarter, more energy-efficient and more environmentally-friendly products.

Our production is based on recycled scrap and includes steel in the form of bar, tube, ring and pre-components. Ovako is represented in more than 30 countries, and has sales offices in Europe, North America and Asia. Ovako’ssales in 2015 amounted to EUR 834 million, and the company had 2,905 employees at year-end. For more information, please visit us at www.ovako.com

Opportunità o meglio lasciar perdere?
L'azienda mi sembra seria e trasparente, ha cassa per pagare le cedole, il problema credo sia il rifinanziamento nel 2019

 

[Myskin]

Opportunità o meglio lasciar perdere?
L'azienda mi sembra seria e trasparente, ha cassa per pagare le cedole, il problema credo sia il rifinanziamento nel 2019

a me non sembra che ovako abbia imboccato una strada virtuosa almeno se guardo i numeri del Q1/2016, direi che riportare il livello di indebitamento netto attorno al 6% dei margini operativi mi sembra difficile
oltretutto il business di questi attinge n buona parte in settori ciclici come l'automotive, settore che mi pare abbia recentemente dato segni di debolezza, quindi mi pare che il rischio non sia commisurato alle quotazioni attuali (75/76?)
per un ingresso io valuterei una decina di figure in meno

 

[jackbond]

Ovako società svedese seria, rappresentata in 30 nazioni e con filiali di vendita in USA ed Europa.

Il piano di ristrutturazione è in pieno svolgimento ed è stato apportato anche un ampliamento dello stesso.

A dicembre 2015 si è insediato il nuovo CEO, è stato cambiato il board, mentre a marzo 2016 il nuovo CFO. Direi che per iniziare ad apprezzare i risultati del nuovo board e del programma di ristrutturazione dovremo attendere il Q3, e come annunciato dall'azienda avrà pieno effetto nel 2018.

Possibilità di call a 100 del bond il 01.06.2018

 

[iguanito]

Arrivato rimborso arcelor 2019 con congrua plusvalenza.

 

[captain sparrow]

questa mattina ho inviato una mail al IR di KTG chiedendo lumi sulle ragioni di questa forte discesa. Questa è la risposta

There are rumors, that we can not pay the coupon next Monday. We just issued an interview on bondguide.de were we said, that this is not true.

Best
Fabian

 

[captain sparrow]

ecci l'intervista
d, Hofreiter, KTG Agrar: "We will make our interest payment on Monday and then go into the detailed negotiations of refinancing"
May 30, 2016

The two KTG Agrar-bonds as well as the KTG share came start of the week for many people inexplicably under the wheels. Bond Guide spoke on the fly with KTG CEO Siegfried Hofreiter.


Bond Guide : Mr Hofreiter, you have last week your financial statements in 2015 . Published While sales to EUR 326.5 million and EBITDA climbed to EUR 59.0 million , profit for the year declined to EUR 3.6 million.How went the year in your view?
Hofreiter : The 2015 was a challenge for agriculture: It was marked by strong global harvests and thus low product prices. In contrast, we have benefited from the stable income in the biogas sector. In addition, the bio-Central has continued to grow and disproportionately risen to organic sector.

Bond Guide :. High harvests and therefore we have also seen in previous years, low product pricesWhat 2015 was particularly or differently than usual?
Hofreiter : In fact, the mechanism of quantity and price in recent years has worked well. When the crops failed low, prices were high, and vice versa. But in 2015 it came in individual regions to significant crop losses due to drought - mentioned is especially the century-drought in Romania. Also in Germany, actually a favor Region, the harvest level was below the statistical average. Such developments are exceptions, but occur. Against this background, it has been confirmed that the diversification of our business model to the food and energy production was just right. This is exactly what we have invested heavily in recent years - for example, EUR 300 million alone in the field of energy - and thus protected us.

Bond Guide : What is the current situation in the fields?
Hofreiter : Fields see much better than last year. The current growing season has gone well. The sown last year winter crops have weathered the cold season and the summer crops, we also can sow on time. The current slowdown comes at the right time. Thus, we are optimistic about the coming harvest phase.


At KTG chief plowing nor even


Bond Guide : And what is the status on the refinancing of maturing in June 2017 bond? - This was in 2015 so increased again.
Hofreiter : Right, we have the bond increased last year to fund the final stage of our biogas locations between. How valuable is each megawatt, has been shown in 2015. When refinancing, we're right on target. We have initiated the process early. After we published the annual financial statements, we will make our interest payment on Monday and then go into the detailed negotiations of refinancing.

Bond Guide: Mr Hofreiter, then we talk surely soon again already.

Interview: Falko Božičević

 

[angy2008]

vendute ieri AMD US007903AU15 a 86,57, mi pareva buono ma ora vedo che a Stuttgart le pagavano meglio. Non mi spiego la salita del titolo se non con il fatto che ha annunciato dei nuovi prodotti ben performanti ma i conti son sempre in rosso