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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TECHNOLOGY
- S&P see the doubling of their annual revenue base as allowing for S&P-adj EBITDA margin >30% and FOCF of EUR >1bn over the cycle despite flat expected revenue this year.
- S&P see 10% growth in FY24 demand for chips despite flat auto production outlook (‘digitalisation’ of autos is supportive) though top line revenue seen at -2% on the back of inventory adjustments, consumer electronics demand dip, and EUR strength vs. USD.
- S&P adj-EBITDA leverage seen below 1x through FY25 as supported by the financial policy of maintaining EUR >1bn cash and a gross leverage <2x (equiv. to S&P-adj leverage of 1.5x).
- Infineon spreads have performed well year-to-date – their EUR 26s have tightened 13bps vs. govies with short-end spreads tightening against A-rated ASML equivalents.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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