Victorian Plumbing reports strong growth amid market share gains

Investing.com -- Voltalia stock gained 2.5% following a Bloomberg report suggesting the company is pursuing data centre projects in Brazil with investors including ByteDance and Brookfield Corp.

According to the unconfirmed article citing unnamed sources, Voltalia has approached potential partners to develop data centre projects that could reach up to 1 gigawatt at the Pecem complex in Brazil’s Ceara State. The renewable energy company has reportedly made initial outreach to tech giants Alphabet and Meta as well.

The report indicates Voltalia could provide electricity from its renewable energy projects in northeastern Brazil to power these data centres, potentially establishing power purchase agreements (PPAs) with the technology companies.

Morgan Stanley analysts commented: "We read this as potentially meaning that Voltalia would sign PPAs with data centre offtakers.

By providing a potential attractive offtake route (we would imagine that these PPAs may come at a price premium vs other agreements), we think this may provide a reassuring signal on the group’s Brazilian renewable pipeline to investors, for which we have had a negative view given high curtailment low prices."

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

Investing.com -- Orion will receive a €180 million sales-based milestone payment from its partner Bayer for the drug Nubeqa during the fourth quarter of 2025, the company announced Wednesday.

The payment comes after some market uncertainty about whether it would be paid this year, especially since Orion had reduced its 2025 guidance in its third quarter results. Analysts had previously assumed the company would raise its outlook to include this milestone payment, which was already incorporated into consensus estimates.

As a result of the payment, Orion has updated its financial outlook for 2025. The company now expects net sales of €1,820-1,900 million, up from its previous guidance of €1,640-1,720 million. The current consensus estimate for net sales stands at €1,881 million.

Orion also revised its operating profit (EBIT) forecast to €590-670 million, increased from the previous range of €410-490 million. This compares to a consensus estimate of €644 million.

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

Investing.com -- Temenos stock gained 3.5% after the company appointed Takis Spiliopoulos as permanent CEO, resolving some leadership uncertainty but creating a new vacancy in the CFO position.

Spiliopoulos, who has served as CFO since 2019 and interim CEO for the past three months, becomes the fourth permanent chief executive at the banking software company since 2019. The Board cited his proven leadership, industry expertise, and successful execution of the strategic roadmap as key factors in their decision.

The appointment provides operational continuity but leaves Temenos searching for a new chief financial officer. The company confirmed that its financial guidance for FY25 and FY28 targets remains unchanged despite the leadership transition.

"While his appointment will reassure on operational and strategic continuity, some investors may question whether an external hire with broader strategic credentials could have better positioned Temenos for its next growth phase. Guidance for FY25 and FY28 targets remains unchanged," Morgan Stanley analysts noted in their assessment of the appointment.

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

Investing.com -- Trainline (LON:TRNT), the online rail-ticketing platform, was downgraded to “underweight” from “neutral” on Wednesday as J.P. Morgan warned that the company faces a weaker operating setup heading into 2026, driven by regulatory intervention, rising competitive pressure and lower earnings expectations.

Shares of the UK-based company were down 6.4% at 04:27 ET (09:27 GMT). 

The brokerage cut its price target to 230p for December 2027 from 300p, placing the valuation below prior assumptions. Trainline’s shares last closed at 227p on Dec. 2.

J.P. Morgan said the government’s decision to freeze regulated rail fares across England for the first time in 30 years will weigh directly on UK Consumer Net Ticket Sales, which the brokerage now expects to be flat in FY27. 

This follows a 4.6% regulated fare increase in March 2025. The analysts said the freeze will limit pricing and revenue growth, with earnings affected by operating deleverage. 

UK Consumer revenue is now projected to fall 2% in FY27, with the group revenue forecast reduced 4% over FY27-28.

The brokerage also cited the government’s plan to create a unified, government-backed digital rail retail platform under Great British Railways. The platform would consolidate 14 operator websites and apps into a single national service.

 J.P. Morgan said the shift is likely to intensify competition for customer acquisition and reshape the digital retail landscape, adding that headline risk from ongoing legislation will continue to pressure the company.

The brokerage lowered its adjusted EBITDA forecast by 8% for FY27-28, with expectations reduced to £177 million in FY27 and £178 million in FY28. 

Adjusted EPS for FY27 was cut to 21.50p, down 12.1% from previous estimates. Group revenue is forecast at £457 million in FY27 and £477 million in FY28, while net ticket sales are expected to reach £6.56 billion in FY27 and £6.87 billion in FY28.

While Trainline continues to generate strong cash flow, including £103 million in FY27 free cash flow, J.P. Morgan said valuation has become less attractive given slower growth. 

On revised estimates, the stock trades at 7.1x EV/EBITDA, aligned with an expected above 4% EBITDA CAGR between FY26 and FY28. 

The brokerage noted that although shareholder returns remain sizeable, including a £150 million share buyback and an estimated £75 million recurring program from FY27, risk-reward has shifted unfavorably.

The analysts also reviewed the impact of artificial intelligence on the business. Trainline has rolled out AI-driven tools such as a travel assistant and used machine-learning systems for customer support and engineering productivity. 

However, J.P. Morgan cautioned that the rise of “agentic AI” platforms could redirect traffic away from Trainline’s direct channels, challenging monetization and increasing the need for investment in technology and marketing.

J.P. Morgan said Trainline now operates within a more regulated and nationalized market framework as more rail operators transition to public ownership, adding to competitive and structural uncertainty. 

Investing.com -- Spanish infrastructure companies Sacyr and Abertis are planning to submit bids for Italy’s A-22 toll road, according to Spanish business newspaper El Economista.

The Italian government set Wednesday as the deadline for the presentation of requests for qualifications (RFQs), with binding offers expected sometime in the first half of 2026.

The A-22 toll road, which connects Brennero, Verona, and Modena in northern Italy, requires an estimated investment of €10 billion.

Current operator Autostrada del Brennero (Autobrennero) is expected to participate in the bidding process, along with Italian groups Autostrade per L’Italia (Aspi) and Gavio.

A ruling from the Court of Justice of the European Union regarding the previous operator’s right of first offer is still pending, which could impact the final award decision.

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

Investing.com -- Volvo Car (STO:VOLCAR.B) on Wednesday reported a 10% year-on-year decline in global sales for November, with total sales reaching 60,244 cars compared to 66,977 in the same month last year.

Chief Commercial Officer Erik Severinson acknowledged "ongoing structural and transformational challenges" affecting both the company and the broader automotive industry.

Despite the overall sales drop, the Swedish automaker highlighted growth in its electric vehicle segment. Sales of fully electric and plug-in hybrid models collectively represented 50% of all cars sold during the month, with fully electric models accounting for 24% and plug-in hybrids making up 26%.

The company noted increased deliveries of its new XC70 long-range plug-in hybrid in China, which has helped expand its position in the growing electrified segment. However, U.S. sales remained weak following the phase-out of electric vehicle tax credits.

The XC60 SUV maintained its position as Volvo’s best-selling model in November.

Volvo Car is majority-owned by China’s Zhejiang Geely Holding Group.

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