analysis

Vitec Software Group AB: Our best bet?

Intro     Today, we want to introduce a company we found trough a stock screening process and which we found very interesting: The Vitec Software Group AB (STO:VIT-B) is a Swedish software designer specialized in comprehensive property and energy management systems for buildings, forecasting for energy companies (electricity, district heating and wind power), management systems […]

List of Investment Analyses

Here is a list of our earlier investment analyses. It will be updated on a regular basis.   3U Holding AG (Part 1) (Part 2) Analysis Banque Privee Edmond de Rothschild S.A. (Part 1) Analysis CARMAT S.A. (Part 1) Quick Check Dangote Cement PLC (Part 1) Quick Check Hornbach Baumarkt AG (Part 1)(Part 2) Analysis Kabel Deutschland AG (Part 1) […]

Hornbach Baumart AG First Quarter Update and potential catalyst

Since our last post some interesting things happened which we think are still not reflected in the share price of the Hornbach Baumarkt AG.   1. The representatives of Kingfisher, which had owned 25% of the common stocks of the holding and 5% of the Baumarkt shares have left the supervisory board and have sold […]

Vetropack – Summary

This will be the final summary of our Vetropack series. Here are links to the first two parts: http://frenzel-herzing.com/investment-analysis-vetropack-holding/ http://frenzel-herzing.com/vetropack-analysis-part-2/   We want to start by giving you the most recent numbers (http://www.vetropack.com/htm/presse_detail_3.htm?id=159). The revenue growth was in line with our expectations, just as the decrease in EBIT matched our prediction quite closely. As we […]

VETROPACK ANALYSIS Part 2

This is the continuation of our analysis of the Vetropack Holding.   At first, we will show you the strategic positioning of the company by giving you a geographical overview including Vetropack’s and competing sites. Keep in mind that for most products the maximum transport distance is 150 km. We also added the total sales per […]

Kabel Deutschland and an evaluation of the German broadband market

Today I would like to present you a long post and the work of the team from the European Business School for the German CFA Research Challenge Final. The team members are Vincenzo La Banca, Yun Du, Attila Menyhàrt, Jan Werst and me.   We were one of four teams which reach it to the […]

3U Holding AG – “a puff left”?

So, is there “a puff left” now? In order to answer this question we need to take closer look into the structure of 3U Holding (3U). As the name suggests, 3U Holding holds a series of stakes in other companies. Benefits of this approach include synergies in terms of purchasing, facilities, legal, accounting and business […]

3u Holding – Selling at 1/3 of the current book value?

Today we want to take a look at 3U Holding (ISN: DE0005167902, Symbol: UUU). It’s a small cap enterprise that caught our attention. The book value at the end of Q3/13 was about three times the current shares price, i.e. 1.29 EUR (by our calculations) vs. 0.42 EUR on Jan 10, 2014! In the chart below […]