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Chargeurs

CR 		Bloomberg   CRI FP
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From an industrialist to a luxury player
Target
Upside 35.7%
Price (€) 10.46
Target Price (€) 14.2
Market Cap (€M) 260
Perf. 1W: 3.98%
Perf. 1M: 6.63%
Perf. 3M: -8.08%
Perf Ytd: -10.4%
10 day relative perf. to stoxx600: 3.11%
20 day relative perf. to stoxx600: 11.7%
EPS change16/11/2011 09:33
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Visible slowdown in demand
Change in EPS2011 : € 0.43 vs 0.54-20.5%
2012 : € 0.50 vs 0.61-17.2%

Following the Q3 release, we have revised down our EBITDA forecast for 2011, 2012 and 2013, by respectively -7.7%, -6.8% and -5.9%, to take into account the economic / financial turmoil which led to weak demand.
Change in DCF€ 6.94 vs 8.61-19.5%

Following the Q3 release, we have revised down our EBITDA forecast for 2011, 2012 and 2013, by respectively -7.7%, -6.8% and -5.9%, to take into account the economic / financial turmoil which led to weak demand.
Updates

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

23 Nov 11 DCF Change
We also include an amount of €-4m to partly off...

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

29 Aug 11 Earnings/sales releases
For H1 11, Chargeurs reported a 13.6% increas...

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