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
Support Services  /  France  Web Site   |   Investors Relation
Strong 2025 ambitions, luxury flavour
Target
Upside 85.3%
Price (€) 14.87
Market Cap (€M) 370
Perf. 1W: -3.19%
Perf. 1M: 6.29%
Perf. 3M: 10.1%
Perf Ytd: 5.61%
10 day relative perf. to stoxx600: -4.87%
20 day relative perf. to stoxx600: 8.04%
DCF Change23/11/2011

Change in DCF€ 6.34 vs 7.05-10.2%

We also include an amount of €-4m to partly offset "other operating cash flows" in the Cash Flow Statement (adjustment line which was no longer taken into account from 2014 in our model).



Updates

03 Oct 12 Earnings/sales releases
Worsening context weighs on profitability

04 May 12 Other news/comments
Lower volumes will impact profitability

04 May 12 EPS change
A challenging 2012

19 Mar 12 Earnings/sales releases
Increasing profitability in a challenging context

21 Jan 12 Earnings/sales releases
Sales release: in line with our expectations

02 Dec 11 Other news/comments
Eduardo Malone has increased his stake

16 Nov 11 DCF Change
Visible slowdown in demand

16 Nov 11 Earnings/sales releases
Visible slowdown in order inflow for Q4

16 Nov 11 EPS change
Visible slowdown in demand

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