Indonesia stocks lower at close of trade; IDX Composite Index down 0.84%

Investing.com -- IQE Plc on Monday said that it expects full-year 2025 revenue of about £97 million, at the upper end of its previously guided range of £90 million to £100 million, reflecting faster-than-expected execution of military and defense programmes and rising demand for photonics linked to artificial intelligence and data centre applications.

The Cardiff-based compound semiconductor wafer supplier said improved trading in the second half of 2025 was supported by earlier deliveries of military and defense projects, continued growth in AI- and data centre-related photonics, and stronger performance in wireless products tied to new handset introductions.

IQE reported an adjusted EBITDA outcome above prior expectations, supported by higher capacity utilisation and operational leverage. The company had previously guided for adjusted EBITDA between a loss of £5 million and a profit of £2 million.

At the end of 2025, IQE held £15.6 million in cash after progress with customers and other stakeholders on short-term liquidity and working capital. 

Its banking facilities with HSBC Bank plc remain subject to covenants, and the company received a waiver from HSBC related to fourth-quarter EBITDA covenant testing.

IQE said it entered 2026 with a strong order book for the first quarter, reflecting continued demand across consumer mobile, data centre, and AI-related photonics markets. 

Demand trends observed in the fourth quarter of 2025 are expected to continue, supported by ongoing customer programmes. 

The company flagged growth in data centre deployments and AI-enabled computing as factors driving increased photonics demand.

Separately, the company’s board is conducting a strategic review and is negotiating non-binding offers for the group as a whole, as well as for individual assets, with the aim of maximising shareholder value. IQE emphasized that discussions are ongoing and that there is no certainty that any potential transaction will proceed.

Chief Executive Jutta Meier said the company delivered a positive second half of trading in 2025 and reported sustained demand across its key end markets.

Full-year 2025 performance highlights include revenue of approximately £97 million, adjusted EBITDA within the guided range but above the midpoint, and a year-end cash balance of £15.6 million. 

Growth drivers included accelerated military and defense programme execution, rising photonics demand linked to AI and data centres, and new wireless handset introductions. 

Operational leverage contributed to improved profitability, and the company’s strategic review continues alongside ongoing banking arrangements.

Investing.com -- Simon Carter will step down as Chief Executive Officer of British Land Company PLC (LON:BLND) after more than five years in the role and 18 years at the company, the UK commercial property firm announced Monday.

Carter is leaving to become CEO of P3 Logistics Parks, a GIC-owned investor, manager, and developer of logistics properties in Europe.

Carter first joined British Land in 2004, working across Strategy, Corporate Finance and Treasury before departing in 2015 to become Chief Financial Officer at Quintain Estates & Development and later at Logicor. He returned to British Land as CFO in 2018 before being appointed CEO in 2020.

William Rucker, Chairman of British Land, thanked Carter for his "significant contribution" to the company, noting that as CEO he had "positioned the business for future success with a very strong management team and an exceptional London office campus and retail park platform."

Carter said: "British Land has been a huge part of my professional life, and it has been a privilege to work for such a fantastic business. The contrarian calls we made post-pandemic have positioned British Land for long-term success."

He added that he would be leaving the business with "market-leading positions in London campuses and retail parks - both of which are benefitting from strong rental growth in supply-constrained markets."

Carter has a 12-month notice period. The British Land Board will conduct a full process to appoint a successor, with a further announcement to be made once a decision is reached.

British Land owns or manages a portfolio valued at £15.2 billion (British Land share: £9.8 billion) as of September 30, 2025, focusing on London campuses, retail parks, and London urban logistics.

Investing.com -- Heineken on Monday said that chief executive Dolf van den Brink will step down from his position on May 31.

Van den Brink, who has spent more than 28 years at Heineken including nearly six years as CEO, reached the decision in consultation with the Supervisory Board. 

He will remain available to the company in an advisory capacity for eight months beginning June 1, according to the statement.

The departure comes amid what RBC analysts characterized as underperformance during van den Brink’s tenure. 

Heineken has posted a total shareholder return of negative 9% since his appointment on June 1, 2020, RBC Capital Markets said in a note.

This significantly trailed competitors Anheuser-Busch InBev, which posted a 36% return, and Carlsberg, which achieved 12%. The stock also underperformed the MSCI European consumer staples sector, which gained 22% over the same period, according to the research note.

Heineken shares traded at €70.08 as of the prior trading day’s market close, with RBC maintaining a "sector perform" rating and €76 price target on the stock.

Van den Brink stated the timing reflects the company’s progression through its transformation and its readiness for the next phase of the EverGreen strategy. 

"The past years have been marked by significant change as HEINEKEN progressed through its transformation and has now reached a stage where a transition in leadership will best serve the Company in further executing its long-term ambitions," he said in a statement.

Peter Wennink, Chairman of the Supervisory Board, acknowledged van den Brink’s leadership through what he described as a demanding period of transformation. The board has initiated a search process to appoint a successor.

RBC analysts noted that while Heineken’s strategy laid out at a Capital Markets Day, focusing on return on invested capital, expanding investments across global brands, and improving data-driven productivity, appears sound, execution has been lacking. 

The analysts suggested the leadership change could benefit the company, describing the sentiment around the departure as ‘positive.’

Investing.com -- Heineken on Monday said that chief executive Dolf van den Brink will step down from his position on May 31.

Van den Brink, who has spent more than 28 years at Heineken including nearly six years as CEO, reached the decision in consultation with the Supervisory Board. 

He will remain available to the company in an advisory capacity for eight months beginning June 1, according to the statement.

The departure comes amid what RBC analysts characterized as underperformance during van den Brink’s tenure. 

Heineken has posted a total shareholder return of negative 9% since his appointment on June 1, 2020, RBC Capital Markets said in a note.

This significantly trailed competitors Anheuser-Busch InBev, which posted a 36% return, and Carlsberg, which achieved 12%. The stock also underperformed the MSCI European consumer staples sector, which gained 22% over the same period, according to the research note.

Heineken shares traded at €70.08 as of the prior trading day’s market close, with RBC maintaining a "sector perform" rating and €76 price target on the stock.

Van den Brink stated the timing reflects the company’s progression through its transformation and its readiness for the next phase of the EverGreen strategy. 

"The past years have been marked by significant change as HEINEKEN progressed through its transformation and has now reached a stage where a transition in leadership will best serve the Company in further executing its long-term ambitions," he said in a statement.

Peter Wennink, Chairman of the Supervisory Board, acknowledged van den Brink’s leadership through what he described as a demanding period of transformation. The board has initiated a search process to appoint a successor.

RBC analysts noted that while Heineken’s strategy laid out at a Capital Markets Day, focusing on return on invested capital, expanding investments across global brands, and improving data-driven productivity, appears sound, execution has been lacking. 

The analysts suggested the leadership change could benefit the company, describing the sentiment around the departure as ‘positive.’

Investing.com -- Shares in Oxford Nanopore Technologies (LON:ONT) jumped more than 6% on Monday after the company said full-year revenue would come in slightly above guidance and analysts flagged a beat versus expectations.

The gene-sequencing company said it expects to report revenue of approximately £223 million to £224 million for 2025, representing growth of about 22% on a reported basis compared with 2024.

Oxford Nanopore said the performance was “slightly ahead of the Group’s guidance range of 20–23% constant currency growth.”

RBC Capital Markets said the revenue figure compares with consensus expectations of about £220 million, implying a 2-3% beat, with stronger performance in the second half of the year.

Oxford Nanopore said growth was delivered across all geographic regions during the year, including Europe, the Middle East, Africa and India, Asia Pacific and the Americas. 

The company said it recorded “continued commercial momentum with revenue growth increasing by more than 20% constant currency across each region.”

RBC said all regions grew by more than 20% on a constant currency basis, indicating a stronger contribution from the Americas during the second half of the year.

Across customer end markets, Oxford Nanopore said Clinical revenue grew by approximately 30% during the period. Revenue from the BioPharma segment also rose by approximately 30%, while Applied Industrial revenue increased by approximately 15%.

The company said Applied Industrial growth occurred “despite end-market funding pressures.” All percentage comparisons were made against the equivalent 2024 period.

RBC said Clinical revenue increased by about 60% year over year, BioPharma revenue rose by roughly 30%, Applied Industrial revenue grew by around 27%, and Research revenue increased by approximately 15%, reflecting tougher comparisons for Research in the second half.

Oxford Nanopore said growth was recorded across all product types and was led by the PromethION platform, which delivered reported growth of approximately 40% year over year.

RBC said PromethION remained the main growth driver, while MinION returned to growth, supported by BioPharma quality control demand.

Oxford Nanopore said it made “continued progress on path to profitability” during the year. No profit or loss figures were provided in the trading update.

RBC said the company reiterated its medium-term targets of EBITDA breakeven in 2027 and cash flow breakeven in 2028.

The company said it ended the year with approximately £302 million in cash and liquid investments as of Dec. 31, 2025, compared with £403.8 million at the end of the previous year.

RBC said the year-end cash position was above consensus expectations of about £281 million and was driven by working capital improvements and a shift toward capital equipment sales.

Oxford Nanopore said the year-end position continued to provide balance sheet support for the group’s strategy.