AlphaValue Corporate Services Fundamental Analysis FR
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AlphaValue Corporate Services
This research has been commissioned and paid for by the company and is deemed to constitute an acceptable minor non-monetary benefit as defined in MiFID II

Dietswell

CR
Bloomberg   ALDIE FP
Engineering-Heavy Constr.  /  France  Web Site   |   Investors Relation
Strong audit & inspection division driving the performance in oil & gas
Pros
  • An asset-light-company with a recurring business (rig inspection and services activities) supported by higher oil prices, and an opportunity to reach a large market with the offshore wind play.
  • Floating offshore wind is a 3.5-5TW mostly untapped market in which Dietswell have extensive know-how and experience.
  • Strong growth at Dietswell - New Energies will reduce the group’s exposure to oil prices fluctuations and lower its cyclicality.
Cons
  • Client concentration and project delays can have a large impact on a small company.
  • In the floating offshore wind market, Dietswell’s main competitors are on average one year ahead in terms of developments.
  • The increased size of future offshore wind auctions could restrain small players’ access to market.
Target
Upside 110%
Price (€) 1.07
Market Cap (€M) 6.81
Perf. 1W: -5.31%
Perf. 1M: -7.36%
Perf. 3M: -1.38%
Perf Ytd: 30.5%
10 day relative perf. to stoxx600: -3.24%
20 day relative perf. to stoxx600: 3.30%