European newsletter portfolio YTD return +13.9%
Our European portfolio put down another great performance in April. YTD return is now +13.9%, firmly ahead of the STOXX600 which finished at +7.2%.
The strongest performers were:
- Real Good Food (+41%) acquired a majority interest in Brighter Foods, a snack bar manufacturer with factories in Wales, UK. The acquisition is expected to be immediately earnings enhancing for the Group.
- Sogefi (+28%) reported that revenues in Q1 were up 12.6%. EBITDA came in 30.2% higher and positive cash flow allowed the company to reduce its net debt from €322.6m a year ago to €291.4m.
- VBG Group (+16%) reported a net turnover increase of 4.6%. EPS declined 14% from SEK3.24 to SEK2.79 as it suffered from the downturn in the mining, gas and oil industries, an important market for its Ringfeder power transmissions business.
- Digital Bross (+16%) through its subsidiary Unit 505 Games, signed an agreement with Wanxin Media, assigning exclusive rights to publish and distribute in Greater China market through local digital PC marketplaces.
Only 1 position showed a double-digit decline.
- Ercros (-13%) posted a 15.8% higher profit during the first quarter, despite a sharp rise in the price of raw materials.
Each month we add two undervalued companies brought up by our screener.
Newsletter subscriptions are still available from € 19.9 / month.
Join today and discover which undervalued fashion company we added this month.