dynaCERT: Commercialisation progress in Europe
dynaCERT reports further progress in expanding its activities in the French market. Together with its distribution partner IPMD, the company recently secured a follow-up order from an existing customer. In addition, the company presented HydraGEN™ technology to potential customers, fleet operators and industry representatives at the 24 Hours Camions commercial vehicle trade fair in Le Mans. IPMD is also working on pilot projects and new customer relationships in transport, ports, industry and mining.
HydraGEN™ is the Canadian company’s core product. It uses electrolysis to generate hydrogen and oxygen on demand and feeds them into the air intake system of an internal combustion engine. This bridging technology improves combustion and reduces fuel consumption and emissions. The target market includes haulage companies, mining operators, port operators and users of stationary generators. The aim is to make existing equipment more efficient without requiring owners to immediately finance a complete replacement.
Southeast Asia, particularly Vietnam, is another key target market. In the summer, the Canadian company reported an initial series order from a Vietnamese logistics company following earlier pilot installations. In addition, units have been installed on trucks and container handlers operated by a port operator.
HydraLytica adds a second business area, a platform for recording consumption data and calculating greenhouse gas emissions. Such data can help document savings transparently. In the longer term, this could generate another high-margin revenue stream.
In the first six months of the current financial year, the revenue base was still small. However, as commercialisation accelerates, revenue momentum is likely to increase significantly over the coming quarters. In June, dynaCERT raised CAD 5 million through a two-year convertible bond with a 6% interest rate. At a current share price of around CAD 0.10, the company is valued at CAD 50 million.
Deutz: Insiders buy
Deutz is driving forward its strategic group restructuring at a rapid pace and is increasingly positioning itself as a diversified provider in drive technology, power supply and defence. In the first half of 2026, the Cologne-based engine manufacturer achieved significant growth in order intake, revenue and earnings.
In the first six months of the current financial year, revenue rose 10.7% to EUR 1.12 billion. Adjusted operating profit reached EUR 79.7 million, corresponding to a margin of 7.1%. Strategically, the agreed acquisition of Flensburger Fahrzeugbau Gesellschaft (FFG) is the dominant development. The purchase price amounts to around EUR 1.6 billion and is to be paid partly in cash and partly in newly issued shares. FFG develops, modernises and maintains military vehicles.
With this transaction, Deutz aims to turn its previously relatively small defence business into a key pillar of the group. FFG generated revenue of around EUR 760 million in 2025 and has a substantial order backlog. The company specialises in military wheeled and tracked vehicles and their maintenance, repair and modernisation.
The shares are currently trading just below EUR 10. Several company insiders have recently used this price level to make additional purchases. The current market capitalisation is around EUR 1.6 billion. On November 5, the German company will publish its next quarterly results. Analysts are bullish on the stock and see average upside of over 60% over the next 12 months.
Daimler Truck: Is the margin rising?
At Daimler Truck, signs of a recovery in the commercial vehicle business are mounting. The truck and bus manufacturer significantly increased its unit sales in the third quarter, benefiting in particular from a strong performance in North America. In total, the group delivered 91,260 vehicles, up 26% from the prior-year quarter. The Trucks North America segment performed particularly strongly, with unit sales rising 51% to 45,629 vehicles. Mercedes-Benz Trucks also achieved significant growth, up 13% to 40,362 units. This appears to increasingly confirm the recovery expected by management in the second half of the year.
In the second quarter, the industrial business generated EUR 11.4 billion in revenue. Adjusted return on sales was 6.8%, while adjusted group EBIT amounted to EUR 838 million. For the full year, management expects adjusted group profit of EUR 3.6 to 4.1 billion. Higher unit volumes and lower expected tariff burdens in North America should help. The results on November 6 must show whether the recovery in unit sales actually translates into higher profitability. Analysts identify upside potential of 25% for the shares.
Conclusion
The commercialisation of dynaCERT’s bridging technology is gaining momentum in Europe and Asia. This should also soon provide positive momentum for the share price. Deutz is growing into new dimensions with the FFG acquisition, while demand is picking up at Daimler Truck. Analysts identify upside potential of 25% here.
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