AlphaValue Corporate Services
Cette analyse a été commandée et financée par l’entreprise concernée et constitue donc un avantage non-monétaire mineur tel que défini par MIFID2


Bloomberg   ALDOL FP
Ingénierie lourde  /  France  Web Site   |   Investors Relation
Acquisitions and new management ensure growth but financing still a headache
Potentiel 26,4 %
Cours (€) 0,00
Capi (M€) 9,63
Perf. 1S: -23,1 %
Perf. 1M: 0,00 %
Perf. 3M: 42,9 %
Perf Ytd: 100 %
Perf. relative/stoxx600 10j: 1,61 %
Perf. relative/stoxx600 20j: 1,05 %
Target Change23/11/2022

Capital increase slashes the valuation

Changement d’Objectif de cours€ 0,07 vs 0,13-45,9 %

Changement de NAV€ 0,14 vs 0,27-48,4 %

Since our last update, Dolfines has continued its capital increase programme with the conversion of the remaining bonds. The conversion of notes resulted in a massive dilution by creating more than 100 million shares (almost doubling), which was reflected in the tanking share price since September 2022. Accordingly, our NAV is severely impacted by the rising number of shares.

Changement de DCF€ 0,12 vs 0,22-45,3 %

The sharp drop in the DCF is subject to the same factors that decreased the NAV. We are, however, expecting higher revenues next year, driven by successful acquisitions and awards by the French government.