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Dolfines

CR
Bloomberg   ALDOL FP
Engineering-Heavy Constr.  /  France  Web Site   |   Investors Relation
Acquisitions and new management ensure growth but financing still a headache
Target
Upside 26.4%
Price (€) 0.00
Market Cap (€M) 9.63
Perf. 1W: -23.1%
Perf. 1M: 0.00%
Perf. 3M: 42.9%
Perf Ytd: 100%
10 day relative perf. to stoxx600: 1.61%
20 day relative perf. to stoxx600: 1.05%
Target Change07/08/2023

Immeasurable dilution smashes valuation, once more

Change in Target Price€ 0.00 vs 0.01-65.8%

In the aftermath of our latest update 2 weeks ago, Dolfines has completed another round of share issuance with 1.9bn new shares. While there have been no changes to our financial estimates given no new updates on the business front, the dilution has slashed the valuation and massively weighed on the target price.



Change in NAV€ 0.01 vs 0.03-65.1%

Given the significant number of new shares which has increased the share count by 1.86 times, the NAV valuation has materially fallen together with the other metrics.



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