AlphaValue Corporate Services
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Chargeurs

CR
Bloomberg   CRI FP
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From an industrialist to a luxury player
Target
Upside 7.87%
Price (€) 13.12
Market Cap (€M) 326
Perf. 1W: -0.76%
Perf. 1M: 15.9%
Perf. 3M: 10.1%
Perf Ytd: 12.3%
10 day relative perf. to stoxx600: 0.94%
20 day relative perf. to stoxx600: 14.4%
EPS change16/11/2011

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

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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