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

Chargeurs

CR
Bloomberg   CRI FP
Holding Companies  /  France  Web Site   |   Investors Relation
Now pursuing organic growth ambitions

Governance score
Company (Sector) Independent board Help
6.1 (5.3) Yes
ParametersCompanySectorScoreWeight
Number of board members710 9/10 5.0%
Board feminization (%)4235 8/10 5.0%
Board domestic density (%)8571 3/10 10.0%
Average age of board's members5359 9/10 5.0%
Type of company : Small cap, controlled 4/10 10.0%
Independent directors rate (%)5741 6/10 20.0%
One share, one vote 10.0%
Chairman vs. Executive split 0.0%
Chairman not ex executive 5.0%
Full disclosure on mgt pay 5.0%
Disclosure of performance anchor for bonus trigger 5.0%
Compensation committee reporting to board of directors 5.0%
Straightforward, clean by-laws 15.0%
Governance score 6.1/10 100.0%
     
Need to know

Since October 2015, the change of control has led to a change of governance with Mr Michaël Fribourg acting as Chairman and CEO whereas the previous set up was to split the Chairman and CEO positions. There are six new board members: Mr Fribourg, Mr Coquoin (an asset manager for the Habert-Dassault family office), Mr Urbain as a Columbus representative, Ms Cecilia Ragueneau, Ms Maria Varciu and Ms Isabelle Guichot.

Mr Fribourg took over the full management of Chargeurs in a remarkably short time span by late 2015 and has since been shifting gears in the right direction with impressive results.

The striking aspect of the “new” Chargeurs is that it is new in its management style with a CEO keen to rebuild the growth potential of existing businesses through positive, entrepreneurial management. The eye remains keenly focused on the financial performance and a defensive balance sheet which is a hard act for anyone to execute.

So far, so impressive, with presumably more to come in the shape of add-on acquisitions.

Michaël FRIBOURG M President/Ch... 2018 1982 2015 0.00 (2019)
Emmanuel COQUOIN M Member 2020 1961 2015 64.6 (2019)
Isabelle GUICHOT F Member 2019 1966 2016 51.7 (2019)
Cecilia RAGUENEAU F Member 2020 1973 2017 64.6 (2019)
Nicolas URBAIN M Member 2019 1960 2015 64.6 (2019)
Maria VARCIU F Member 2021 1973 2019 38.8 (2019)
Georges RALLI M Secretary 2019 1948 2013 51.7 (2019)
Eduardo MALONE M President/Ch... 2018 1949 2015
Salim Meir IBRAHIM M Member 2013 2007 2013 6.00 (2013)
Martine ODILLARD F Member 2017 1954 2011 2015
Giuseppe PIROLA M Member 2014 2014 10.0 (2012)
Catherine SABOURET F Member 2017 1950 2014 2017 48.8 (2016)
Jérôme SEYDOUX M Member 2016 1934 2015 10.0 (2012)
Changes to Board of directors : 14/09/2020
Name (7) Indep.
(4/7)
Challenged
(conflicted interests, distant or current)
Die hard
(7 years or more)
Improbable
(too young, disconnected profile)
Overloaded
(too many boards, too old)
Specific agenda
(gov. or staff rep)
Tied
(family, business relations, executive)
Unknown
(lack of history, short CV)
Michaël FRIBOURG
Emmanuel COQUOIN
Isabelle GUICHOT
Cecilia RAGUENEAU
Nicolas URBAIN
Maria VARCIU
Georges RALLI
Michaël FRIBOURG M CEO 1982 2015 1,325 (2019)
Olivier BUQUEN M CFO 2016 ND (2019)
Matthieu BALESCUT M Member of the ... 1976 2018
Joelle FABRE-HOFFMEISTER F Member of the ... 2016
Angela CHAN F Executive Officer 1967 2017
Laurent DEROLEZ M Executive Officer 1958
Sampiero LANFRANCHI M Executive Officer 1983 2017 ND (2019)
Federico PAULLIER M Executive Officer 1960 2013
Changes to Management : 14/09/2020
Existing committees
  • Audit / Governance Committee
  • Compensation committee
  • Financial Statements Committee
  • Litigation Committee
  • Nomination Committee
  • Safety committee
  • SRI / Environment

Company (Sector)
6.6 (5.5)
Quantitative metrics (67%)
Set of staff related numerical metrics available in AlphaValue proprietary modelling aimed at ranking on social/HR matters
ParametersScoreWeight
Staffing Trend7/1015%
Average wage trend5/1030%
Share of added value taken up by staff cost8/1020%
Share of added value taken up by taxes3/1015%
Wage dispersion trend4/1020%
Pension bonus (0 or 1)0 
Quantitative score5.4/10100%
Qualitative metrics (33%)
Set of listed qualitative criterias and for the analyst to tick
ParametersScoreWeight
Accidents at work10/1025%
Human resources development10/1035%
Pay10/1020%
Job satisfaction0/1010%
Internal communication10/1010%
   
Qualitative score9.0/10100%




Sector figures
CompanyCountrySocial Score Quantitative scoreQualitative scoreStaffing
      
Investor 7.98.46.915,871
Vivendi 6.96.48.044,500
GBL 6.58.33.018,535
Ackermans & van Haaren 6.56.27.222,464
Ingenico 6.56.76.211,269
Corporacion Financiera Alba 6.58.42.7143
Bouygues 6.26.35.9131,250
Eurazeo 5.97.03.723,032
DWS 5.96.25.43,390
London Stock Exchange Group 5.96.05.812,155
Euronext NV 5.85.27.0750
VIEL & Cie 5.75.95.32,410
Bolloré 5.77.12.981,303
Exor 5.54.28.3314,847
Sonae 5.56.63.334,054
Industrivärden 5.33.29.715.0
Amundi 5.25.05.64,359
EdenRed 5.04.36.610,700
Heineken Holding 5.05.63.986,325
Hal Trust 4.96.32.153,934
Deutsche Boerse 4.74.55.16,900
Wendel 4.75.72.7127,793
Bolsas Y Mercados Espanoles 4.13.45.4770
Porsche 3.42.65.11,050
Kinnevik Investment 1.71.42.340.0

Greenhouse Gas Emissions


CO2 ktons
Scope 1 + Scope 2
Reference Year : 0

CO2 tons
per employee

CO2 tons
per sales (€m)

CO2 tons
per €m invested
Chargeurs Other financials
Sector figures
Company CountryCO2 emissions (ktons)Last CO2 emission yearCO2 tons per €m investedCO2 tons per €m salesCO2 tons per employee
       
Amundi 11.820190.974.342.69
Bolloré 330201835.114.34.07
Bouygues 2,743201824777.121.2
Corporacion Financiera Alba 0.1120170.051.721.82
Deutsche Boerse 8.0520190.292.641.19
DWS 0.0020190.000.000.00
EdenRed 9.9320191.056.100.99
Eurazeo 807201724123255.9
Exor 0.0020170.000.000.00
GBL 0.0020190.000.000.00
Heineken Holding 1,557201880.669.318.2
Industrivärden 0.0220180.000.051.19
Ingenico 20.420192.446.061.90
Investor 449201810.510821.2
Kinnevik Investment 0.6020170.065,80215.1
London Stock Exchange Group 8.5520180.253.541.94
Sonae 415201738372.612.8
Vivendi 53.020181.883.811.27
Wendel 28.620188.523.410.23