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

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Bloomberg   ALCJ FP
Supergenerics  /  France  Web Site   |   Investors Relation
Things get moving
Target
Upside 196%
Price (€) 3.31
Market Cap (€M) 120
Perf. 1W: -9.81%
Perf. 1M: -15.1%
Perf. 3M: -2.38%
Perf Ytd: 16.8%
10 day relative perf. to stoxx600: -12.8%
20 day relative perf. to stoxx600: -21.7%
EPS change24/12/2018

Adjustment in the number of shares

Change in EPS2018 : € -0.73 vs -0.76ns
2019 : € -0.50 vs -0.53ns

The new number of shares has been adjusted to take into account the exercise of options since September, while the last capital increase (December) was already in our numbers. Therefore, the loss per share seems lower, which is only due to this impact, all other numbers being unchanged.



Change in NAV€ 11.9 vs 12.7-6.81%

The lower NAV per share stems from the higher number of shares after the exercise of options since September (and not from the capital increase which was already accounted for).



Change in DCF€ 13.8 vs 14.8-6.81%

The lower NAV per share stems from the higher number of shares after the exercise of options since September (and not from the capital increase which was already accounted for).



Updates

10 Sep 19 Earnings/sales releases
H1 19: no surprise

10 Jul 19 Financing issue
Warrants to existing shareholders

19 Jun 19 Latest
A commercial success

18 Apr 19 EPS change
The 2018 bonds fully converted

18 Mar 19 EPS change
No major change post FY18 results

15 Mar 19 Earnings/sales releases
Slowly but surely

04 Feb 19 Financing issue
Some extra non-dilutive financing

24 Dec 18 EPS change
Adjustment in the number of shares

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