Trevi (BUY, TP EUR3.2)

Sales exceed expectations, EBITDA disappoints Trevi posted a good start to the year with revenue up EUR297m (+11.8% YOY), beating our EUR287m estimate on outperformance in the […]

Trevi (BUY, TP EUR3.2)

Q1 results preview The company is due to report Q1 for 2015 on 15 May. We expect total […]

Stronger capital structure

TreviFin (Outperform, TP EUR3.2) We revisit our investment case on Trevifin to include the recently completed capital increase […]