L’Oréal to double stake in Galderma to 20% with additional purchase

Investing.com -- UCB SA (BR:UCB) announced positive results from its GEMZ Phase 3 study evaluating fenfluramine for the treatment of CDKL5 deficiency disorder.

The company reported that fenfluramine significantly reduced countable motor seizure frequency in patients with the rare genetic condition. The drug was generally well tolerated during the trial, with no new safety signals identified.

Following these positive outcomes, UCB plans to submit fenfluramine for regulatory approval as soon as possible. The submission would seek authorization for the drug’s use in treating seizures associated with CDKL5 deficiency disorder.

CDKL5 deficiency disorder is a rare genetic condition that causes seizures and developmental delays. The successful trial results represent a potential new treatment option for patients with this disorder.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Spanish utility company Iberdrola SA (BME:IBE) will receive €170 million in grants to build energy storage projects, the company announced on Sunday.

The grants are co-financed with European Regional Development Fund (ERDF) funds for the 2021-2027 period and were granted by the Institute for the Diversification and Saving of Energy (IDAE).

Iberdrola plans to allocate €130 million to co-finance 11 Battery Energy Storage System (BESS) batteries. An additional €22 million will go toward three industrial thermal storage projects, while €18 million will be used to expand the capacity of a pumped storage project.

These investments align with the company’s strategy to enhance energy storage capabilities across its operations.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Pegasus Airlines has signed an agreement to acquire Czech Airlines and its subsidiary Smartwings for €154 million as part of its global expansion strategy.

The deal, announced Monday, includes both airlines and related receivables. The transaction remains subject to mandatory regulatory approvals and other transfer conditions.

Pegasus Airlines, established in 1990, currently operates flights to 158 destinations across 55 countries with one of the world’s youngest and most fuel-efficient fleets.

The acquisition will add Smartwings, the largest carrier in the Czech Republic, which serves 80 destinations in 20 countries through its Smartwings and Czech Airlines brands.

Following the acquisition, Pegasus Airlines’ fleet will grow significantly, adding Smartwings’ 47 aircraft to its existing 127 planes.

"At Pegasus Airlines, we set out in 2005 with a bold ambition - to make air travel accessible to everyone," said Pegasus Airlines CEO Güliz Öztürk. "Now, by joining forces with Czech Airlines and Smartwings, we’re opening a new chapter in our growth journey."

The Turkish carrier plans to maintain both the Smartwings and Pegasus Airlines brands, focusing on expanding their combined presence across Europe.

Jiří Šimáně, shareholder of Czech Airlines and co-founder of Smartwings, stated: "We are confident that Pegasus Airlines represents the ideal shareholder for Czech Airlines and Smartwings, one that will bring millions of passengers across its network new benefits, enhanced connectivity, and a continued joy of travel."

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Shares of Auto1 Group SE (F:AG1G), a Europe-based online used-car transaction platform, rose more than 4% on Monday after Jefferies initiated coverage with a “buy” rating and a €34 price target, citing structural earnings growth potential, digital scale, and a discounted valuation relative to peers.

The broker projected a 45.4% one-year upside from the prior close of €23.4 and valued the company using a DCF model at a 10.4% WACC and 2% terminal growth rate, assigning an enterprise value of €7.14 billion and equity value of €7.45 billion, or €34 per share.

The brokerage forecast revenue of €8.12 billion in FY25 and €9.50 billion in FY26, against consensus estimates of €8.04 billion and €9.39 billion. 

Adjusted EBITDA is projected at €192.5 million in FY25 and €284.2 million in FY26, above consensus of €185.9 million and €263.8 million. 

EPS estimates of €0.43 for FY25 and €0.71 for FY26 exceed consensus figures of €0.40 and €0.66. Jefferies expects Auto1 to reach its 5-9% EBITDA margin range in FY30.

Auto1 sources cars in nine countries and sells wholesale in 33, of which nine are also retail markets, positioning it as a regional operator across consumer-to-business and business-to-consumer channels. 

Annualised sales exceed 870,000 vehicles, equal to about 3% market share, with the long-term target of 10% of used-car transactions within its 27.7 million-car footprint. 

The analysts attributed growth to demand for digital transactions, scale across sourcing and selling channels, and a financing structure enabling vehicle and loan processing at lower cost.

Gross profit per unit is above €1,170, and the Autohero retail segment has exceeded €2,600 GPU. The brokerage said financing attachments could provide incremental GPU of €250 as loan penetration increases. 

The brokerage said Auto1’s structural model supports margin improvement based on cross-border pricing transparency, logistics capability and multi-channel inventory allocation.

The business holds an efficient balance sheet, supported by non-recourse asset-backed securitisation programs covering inventory, consumer financing and dealer financing. 

Net debt excluding leases and merchant/consumer ABS is projected at negative €8 million in FY26, with cash of €608.6 million and inventory ABS liabilities of €600.6 million. 

Auto1 reported a negative cash conversion cycle of 2.5 days in 2024, compared with Carvana’s 29.3 days and CarMax’s 263.6 days, driven largely by rapid turnover in wholesale operations .

The analysts said Auto1 trades at 32.2x EV/2025 EBITDA and 21.3x for 2026, compared with Carvana at 41.2x and 31.3x, and at a PEG ratio of 1.1x versus Carvana’s 2.9x. 

Investing.com – Australia stocks were lower after the close on Monday, as losses in the Gold, Metals & Mining and Utilities sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 fell 0.12%.

The best performers of the session on the S&P/ASX 200 were Liontown Resources Ltd (ASX:LTR), which rose 14.77% or 0.19 points to trade at 1.51 at the close. Meanwhile, Pls Group Ltd (ASX:PLS) added 6.05% or 0.23 points to end at 4.03 and Zip Co Ltd (ASX:ZIP) was up 5.70% or 0.17 points to 3.15 in late trade.

The worst performers of the session were Lynas Rare Earths Ltd (ASX:LYC), which fell 3.75% or 0.53 points to trade at 13.61 at the close. Iluka Resources Ltd (ASX:ILU) declined 3.41% or 0.22 points to end at 6.23 and Capricorn Metals Ltd (ASX:CMM) was down 4.39% or 0.61 points to 13.27.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 657 to 487 and 436 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 1.60% to 10.38.

Gold Futures for February delivery was up 0.02% or 0.90 to $4,243.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 0.20% or 0.12 to hit $60.20 a barrel, while the February Brent oil contract rose 0.19% or 0.12 to trade at $63.87 a barrel.

AUD/USD was unchanged 0.08% to 0.66, while AUD/JPY fell 0.03% to 103.12.

The US Dollar Index Futures was down 0.10% at 98.87.