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


Bloomberg   ALCJ FP
Supergenerics  /  France  Web Site   |   Investors Relation
Some patience still required
EPS change18/04/2019

The 2018 bonds fully converted

Change in EPS2019 : € -0.48 vs -0.51ns
2020 : € -0.34 vs -0.39ns

We have increased the total number of shares (from 13.6m at year-end 2018 to 18.4m in March 2019) following the conversion of all convertible bonds issued last year, which by the way confirms shareholders’ confidence in the company. The valuation does not significantly change (dilution on one side, a lower net debt position on the other one), but of course the apparent loss per share is smaller over the next two years. No other changes to our model.

Upside 302%
Price (€) 2.58
Market Cap (€M) 65.4
Perf. 1W: -8.67%
Perf. 1M: -19.4%
Perf. 3M: -19.9%
Perf Ytd: -15.8%
10 day relative perf. to stoxx600: -12.5%
20 day relative perf. to stoxx600: -14.5%

23 Dec 19 Financing issue
Extra-financing to increase visibility

20 Nov 19 Financing issue
A €2.6m non-dilutive issue

10 Sep 19 Earnings/sales releases
H1 19: no surprise

10 Jul 19 Financing issue
Warrants to existing shareholders

19 Jun 19 Latest
A commercial success

18 Apr 19 EPS change
The 2018 bonds fully converted

18 Mar 19 EPS change
No major change post FY18 results

15 Mar 19 Earnings/sales releases
Slowly but surely

04 Feb 19 Financing issue
Some extra non-dilutive financing