Chargeurs | CRI FP | Support Services | France | Updates

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Chargeurs ^CR	Bloomberg CRI FP
Support Services / France	Web Site \| Investors Relation

From an industrialist to a luxury player?

Target

Upside 101%

Price (€) 12.72

Target Price (€) 25.5

Market Cap (€M) 319

Perf. 1W:	2.58%
Perf. 1M:	-10.2%
Perf. 3M:	-7.96%
Perf Ytd:	-6.26%

10 day relative perf. to stoxx600:	-10.4%
20 day relative perf. to stoxx600:	-11.2%

EPS change26/11/2012

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Worsening economic context as from Q2, recovery expected as from 2013
Change in EPS	2012 : € -0.03 vs 0.36	ns
	2013 : € 0.29 vs 0.45	-34.7%
The overall margin for 2012 will be lower than previously anticipated and therefore we have revised down our forecast. 2013 is impacted by a higher tax effect.
Change in DCF	€ 9.05 vs 6.09	+48.7%
The lower than previously anticipated net debt drives our DCF valuation upwards despite the downward revision of the group's profitability for 2012.

26 Nov 12 Earnings/sales releases
Resistance of prices, drop in volumes

26 Nov 12 EPS change
Worsening economic context as from Q2, recov...

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

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

16 Nov 11 DCF Change
Visible slowdown in demand