Please find our updated model here.

Selecta has always been good for disappointment. To be fair, we tried to overlook the warning signs that intensified in Q2, concentrating on that

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Selecta yesterday reported dreadful results. The thesis that the Olympics and football would drive revenues as the Germany Worldcup did back in 2006 did not play out in an

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Please find our updated analysis of Selecta here.

Two quarters ago, management pronounced the machine culling program over. Last week, however, we were presented with yet a few thousand fewer Private

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Please find our updated analysis of Selecta here.

The vendor disappointed us with a low uplift in sales prices in Q124 of what looked like a mere 6%, down from double that in Q423 it seems (the company does not

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Wolfgang was a bit grumpy yesterday. Selecta did not live up to our admittedly lofty expectations. The timing of Easter and a further reduction of 5k private

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Lavazza, ostensibly one of the parties involved in the potential sales process that did or didn’t take place recently, are bidding an encouraging €7.15 per share for

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Please find our updated analysis on Selecta here.

Last month we felt very bullish about Selecta and its prospects for the year. We thought we’d model audaciously. A month and one reporting later and we have lifted

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"Let It Bloom” was effectively written all over the presentation yesterday. Management currently see no cloud on the horizon and with the heavy lifting

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Please find our unchanged analysis here. 

We have been meaning to put this trade on for a while. One of you had the idea and we like it, but we weren’t going to spill the beans before that fund had

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Please find our updated analysis of Selecta here.

The company is arbitraging a nearly undiminished backlog of €60m one-offs with the improved economics it achieves from its remaining and its new fleet. At the

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Q3 revenues and earnings came in almost on top of our estimates. More interesting is what is going on on the balance sheet, in particular with

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Please find our updated analysis here. 

Every once in a while a name begins to make a lot of sense - and we are the last to see it. It’s Selecta’s turn. If following Q1 the vendor was on the edge, today it is one step further - but in the right direction. We are certainly off the fence as we abandon our previous

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We have been looking for the stabilisation of the machine fleet around this time as the company cannot only shrink itself into this capital structure. But instead,

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Please find our updated analysis on Selecta here.

To grow all the way into its capital structure and put KKR’s equity back into the money, Selecta needs more pass-through, more employees to return to their

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Last week’s results did not move the needle for the company. Results were not bad at all - even slightly better than we had anticipated but far from

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Swiss-based “foodtech” a.k.a. vending leader, Selecta, have appointed Nicole Charrière Roos as its permanent Chief Financial Officer. Charrière Roos,

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Yesterday’s Q4 call ended on a frustrating note as we were not admitted to ask questions. We’ve been assured it wasn’t personal. Much of the

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Following a comment from one of you, we have added the full cash interest on the bonds to the forward-looking cashflows. We have also taken the

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Please find our re-initiation of Selecta here.

We are not taking a position. Ever since we directed the name in 2017, we have been immensely sceptical about it - punctuated by a brief technical period following the 2020 restructuring. The reason has been the same from the start: World Domination is

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The one take-away from the Reuter’s article and other conversations we have had is that KKR are still engaged on the name.

So far however there has been

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