AlphaValue Corporate Services

AlphaValue Corporate Services capitalise on the research and credit analysis expertise deployed by AlphaValue with major institutional investors at European level over the past nine years. The proprietary tools and processes enabling AlphaValue Corporate Services to establish a valuation and/or a credit risk assessment are identical to those used by AlphaValue to the benefit of its institutional clients. The only difference is the recognition that a company evaluation cannot be dissociated from the fact that the latter is paying for the service (AlphaValue Corporate Services), as opposed to the investor footing the bill (AlphaValue). AlphaValue’s research tools are characterised by the transparency of the valuation methodologies, their responsiveness to market data and by nine years’ experience of a universe numbering more than 450 European companies. Through its coverage and sector exhaustiveness, AlphaValue ranks alongside the major research houses in Europe and constitutes the only new entrant to the European space in the past decade. This significant presence is reflected in an unrivalled distribution capability via platforms commonly adopted by investors to access research: Factset, Bloomberg, Capital IQ and the numerous websites. AlphaValue is one the largest research contributors to these platforms, to the benefit of AlphaValue Corporate Services issuer clients.  The AlphaValue Corporate Services analysts are AlphaValue’s sector specialists. Their robust knowledge of the business models in their sectors enables the rapid generation of incisive, relevant research and advantageous interaction with the management teams.

Coverage

  • Research Category: Equity
  • Asset Class: Equity
  • Geographic Coverage: Belgium, Bulgaria, France, India, Japan
  • Size Coverage: Small Cap, Micro Cap, Nano Cap
  • Sector Coverage: Health Care Equipment & Services, Industrial Engineering, Industrial Transportation, Media, Oil & Gas Producers, Oil Equipment, Services & Distribution, Personal Goods, Real Estate Investment Trusts, Software & Computer Services, Support Services
  • Underlying Coverage: 15

Analysts

  • Fabrice Farigoule

    N/A
  • Juan Camilo Rodriguez

    N/A
  • Charles Bordes

    N/A
  • Marzio Foa

    N/A
  • Pierre-Yves Gauthier

    N/A
  • Felix Brunotte

    N/A
  • Please Change Name Please Change Surname

    N/A
  • Marc Laubel

    N/A
  • Charles Edouard Boissy

    N/A
  • Hélène Coumes

    N/A
  • Laura Parisot

    N/A
  • Kevin VO

    N/A
Pierre-Yves Gauthier

Avoided carbon gains speed

Avoided carbon gains speed FINANCING ISSUE Ecoslops’ success in processing oil wastes for a profit is gaining momentum with a full financing of its second unit due in early 2020. FACT Ecoslops posted a raft of positive communiqués somewhat ahead of its FY 2018 release. These include: - Solid trading in 2018 with sales of the Portuguese unit up 30% (excluding sales at no profit as part of a utility contract) - Ample financing (up to €18m) from EIB to build the second refining unit in Marseilles - Essentially no net debt at the close of 2018 - The final go from regulatory authorities to lau...

Charles Edouard Boissy

Strong momentum kept up in Q4, despite impact of change in mode of contract

Strong momentum kept up in Q4, despite impact of change in mode of contract EARNINGS/SALES RELEASES EasyVista’s sales reached €37.5m (+30%), ahead of our expectations (€36.8m). Q4 sales were up 9%, after 41% in the first 9M, as the positive impact of the change in mode of contracts mode came to an end. However, sales were ahead of expectations, thanks to the strong marketing momentum, in both France and the USA. Group product innovation & marketing lead us to expect an organic growth trend of above +10% per annum. FACT FY sales up 30%, ahead of expectations Q4 sales were up 9%, after 38% ...

A new potential deal

A new potential deal M&A /CORP. ACTION FACT DMS announced it has entered into exclusive talks with Hybrigenics, a bio-pharmaceutical company listed on the Euronext Growth market of Euronext Paris. ANALYSIS In short, the negotiations have only just begun. DMS would contribute its DMS Biotech division and get an 82% stake in the new entity. This said, the relative valuations need to be worked out. The due diligence process is only starting and the shareholders of both companies will then have to approve this transaction. After the (failed) similar operation with Intrasense last year (see o...

Some extra non-dilutive financing

Some extra non-dilutive financing FINANCING ISSUE FACT Crossject announced it had obtained a €1.1m financing from Bpifrance and the Bourgogne-Franche Comté region. ANALYSIS The financing is made up of two loans (one relating to R&D and, the second one, interest-free, to support innovation). The total maturity is eight years with the first instalments in three years. The aim is to help/accelerate the ramp-up of the industrial production of Zeneo as well as its future growth. This comes after the capital increase of last December (€3.9m) and the loans are part of the “non-dilutive financi...

Pierre-Yves Gauthier

Solid 2018 vintage

Solid 2018 vintage EARNINGS/SALES RELEASES Chargeurs released 2018 revenues ahead of expectations in adverse global markets and looks like beating street expectations at the operating line (preliminary: a bit more than €48m). This would indeed be excellent news as Chargeurs did not slowdown on capex and opex, thereby preparing the ground for another wave of well-anchored profitable growth. FACT The industrial conglomerate has released, first and foremost, its 2018 FY revenues up 7.6% on a reported basis and +2.6% on an lfl one. The table below provides a two-year growth history (2016-18) w...

Pierre-Yves Gauthier

Avoided carbon gains speed

Avoided carbon gains speed FINANCING ISSUE Ecoslops’ success in processing oil wastes for a profit is gaining momentum with a full financing of its second unit due in early 2020. FACT Ecoslops posted a raft of positive communiqués somewhat ahead of its FY 2018 release. These include: - Solid trading in 2018 with sales of the Portuguese unit up 30% (excluding sales at no profit as part of a utility contract) - Ample financing (up to €18m) from EIB to build the second refining unit in Marseilles - Essentially no net debt at the close of 2018 - The final go from regulatory authorities to lau...

Charles Edouard Boissy

Strong momentum kept up in Q4, despite impact of change in mode of contract

Strong momentum kept up in Q4, despite impact of change in mode of contract EARNINGS/SALES RELEASES EasyVista’s sales reached €37.5m (+30%), ahead of our expectations (€36.8m). Q4 sales were up 9%, after 41% in the first 9M, as the positive impact of the change in mode of contracts mode came to an end. However, sales were ahead of expectations, thanks to the strong marketing momentum, in both France and the USA. Group product innovation & marketing lead us to expect an organic growth trend of above +10% per annum. FACT FY sales up 30%, ahead of expectations Q4 sales were up 9%, after 38% ...

A new potential deal

A new potential deal M&A /CORP. ACTION FACT DMS announced it has entered into exclusive talks with Hybrigenics, a bio-pharmaceutical company listed on the Euronext Growth market of Euronext Paris. ANALYSIS In short, the negotiations have only just begun. DMS would contribute its DMS Biotech division and get an 82% stake in the new entity. This said, the relative valuations need to be worked out. The due diligence process is only starting and the shareholders of both companies will then have to approve this transaction. After the (failed) similar operation with Intrasense last year (see o...

Some extra non-dilutive financing

Some extra non-dilutive financing FINANCING ISSUE FACT Crossject announced it had obtained a €1.1m financing from Bpifrance and the Bourgogne-Franche Comté region. ANALYSIS The financing is made up of two loans (one relating to R&D and, the second one, interest-free, to support innovation). The total maturity is eight years with the first instalments in three years. The aim is to help/accelerate the ramp-up of the industrial production of Zeneo as well as its future growth. This comes after the capital increase of last December (€3.9m) and the loans are part of the “non-dilutive financi...

Pierre-Yves Gauthier

Solid 2018 vintage

Solid 2018 vintage EARNINGS/SALES RELEASES Chargeurs released 2018 revenues ahead of expectations in adverse global markets and looks like beating street expectations at the operating line (preliminary: a bit more than €48m). This would indeed be excellent news as Chargeurs did not slowdown on capex and opex, thereby preparing the ground for another wave of well-anchored profitable growth. FACT The industrial conglomerate has released, first and foremost, its 2018 FY revenues up 7.6% on a reported basis and +2.6% on an lfl one. The table below provides a two-year growth history (2016-18) w...

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