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   ALDOL FP
Engineering-Heavy Constr.  /  France  Web Site   |   Investors Relation
Capital increase to bring some order
Upside 909%
Price (€) 0.01
Market Cap (€M) 1.59
Perf. 1W: 9.80%
Perf. 1M: 19.1%
Perf. 3M: -24.3%
Perf Ytd: -20.0%
10 day relative perf. to stoxx600: -6.77%
20 day relative perf. to stoxx600: 25.1%
Earnings/sales releases28/07/2022

H1: Growth in both segments

Revenue stood at €4.3m in H1, confirming the positive momentum communicated in Q1. The Oil & Gas activities recovered sharply with the high oil price, while the strong growth continued at 8.2 France. The prospects also look good for H2, with drilling activity remaining elevated and with the workforce growing in Renewable energies. Overall, a positive update, which will help to support the stock price.


H1 (comparison including 8.2 France):
Group revenue: €4.3m (+34% yoy)

  • Oil & Gas: €2.6m (+63% yoy)
  • Renewable energies: €1.6m (+33% yoy)
  • Engineering & Technologies: €0.1m (-75% yoy)


In Oil & Gas, the Audit & Inspection activities were up 67% to €1.5m, leading the division’s gains. Projects were executed in active regions/countries such as Brazil and the Middle East. The revenue for Technical Assistance stood at €1.1m, a 47% yoy increase, with contracts that had been halted during the pandemic now restarting.

In Renewables, 8.2 France is now consolidated. The company recorded yoy growth in offshore activity, specifically on the Banc de Guérande project (Saint-Nazaire), with 80 wind turbines. 8.2 France had 8 people for the manufacturing (inspection), installation and commissioning phases of the project.


No change to our recommendation