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

SFPI Group

CR
Bloomberg   SFPI FP
Misc. Bldg & Construct Prod  /  France  Web Site   |   Investors Relation
Family industry conglomerate sees growth in safety
Pros
  • SFPI is more about capital goods than construction. Its growth hinges on the need for security, energy savings, IoT, renovation and increasing regulation
  • No capital increase despite the successive crises and a policy to at least maintain the dividend (dropped in COVID times), two differentiating elements in the small cap universe
  • Excellent track record in terms of acquisitions (more than 80 implemented): SFPI Group is operating in niche, fragmented markets and has been built up by successive bolt-on acquisitions
Cons
  • SFPI is a by-word for industrial caution. This has kept the lid on debt-financed growth (but proves an ace in COVID times)
  • SFPI is France-centred (c.60% of sales), but the company is willing to accelerate in Europe as well as globally but on a longer horizon.
Target
Upside 130%
Price (€) 1.13
Market Cap (€M) 112
Perf. 1W: -6.25%
Perf. 1M: -12.5%
Perf. 3M: 0.00%
Perf Ytd: -34.4%
10 day relative perf. to stoxx600: -18.7%
20 day relative perf. to stoxx600: -15.4%