Carbios - Commercial revenues in 2020

Carbios's FY18 results were slightly in advance of our estimates and the company remains on track to generate commercial revenues in 2020. We have adjusted our forecasts following the results and our DCF valuation remains at €15/share. However, a key factor in determining Carbios’s short-term valuation will be the nature of the financing for the PET bio recycling demonstration plant, which has yet to be disclosed.

INVEST SECURITIES - CARBIOS : CARBIOS (ACHAT, OC 14,4€ vs 15,5€) : Basculement vers l'industrialisation des technos

Carbios - Advancing towards commercialisation

H118 results were broadly in line with our expectations and Carbios retains sufficient cash to finance its business until H219. The company continues to make progress with its transformation from a research body to a commercial enterprise. We expect the first commercial revenues from Carbiolice in 2020. Our DCF indicates a valuation for Carbios of €15/share.

- H117 results and update

The reduction in Carbios’s operating losses in the first half of 2017 is positive. It was driven by revenue from Carbiolice for part of the period and the fall in external costs from the scheduled conclusion of the Thanaplast programme. The announced five-year partnership with L’Oréal shows confidence in Carbios’s technology. We have adjusted our DCF valuation range per share to €20-32 to reflect the latest capital markets activity.

Cah burn réduit, situation financière renforcée - ACHAT - 14,9€ (vs 14,6€)

Le revenus d’exploitation S1 2017 sont caractérisés par un changement de nature, Carbios facturant maintenant des prestations de service (vs subventions au S1 2016). Le compte de résultat est marqué par une baisse (-20%) des charges opérationnelles mais également du CIR ( -57%). La consommation de cash est toujours très maîtrisée et l’AK réalisée en juillet dernier vient conforter une position qui doit permettre à la société de faire face à ses engagements jusqu’au S1 2019. Notre nouvel objectif ressort à 14,9€ (vs 14,6€ préc), nous conservons notre recommandation ACHAT, considérant que la cap...

A director sold 3,724 shares at 6.772EUR and

A director at Carbios sold 3,724 shares at 6.772EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board me...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...