Carbios SA

Carbios SA, formerly Carbios SASU, is a France-based company engaged in green chemistry that focuses on discovering and developing enzymatic bioprocesses applied to plastic and textile polymers. The Company creates a new generation of fully biodegradable plastics with a controlled lifespan, a process enabling infinite biorecycling of plastic waste (PET) and a new biological pathway for the production of competitive biosourced polymers.
  • TickerA1XA4J
  • ISINFR0011648716
  • ExchangeEuronext Paris
  • SectorChemicals
  • CountryFrance

Carbios: 1 director sold

A director at Carbios sold 88,293 shares at 22.398EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board membe...

Carbios: 1 director sold

A director at Carbios sold 88,293 shares at 22.398EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board membe...

Toby Thorrington

Carbios - Key developments and partnerships expected

We expect further progress from Carbios in 2020, with the start of construction of its PET demonstration plant and the commercial launch of Evanesto by Carbiolice. Following the FY19 rights issue, raising €13.8m (net), Carbios enters 2020 in a sound financial position, with sufficient resources to finance the business over the next 12 months. Our DCF valuation remains c €13/share.

Johann Carrier

INVEST SECURITIES - CARBIOS (ACHAT, OC 14,4€) : (Dans) la cour des grands !

Carbios - A productive and active H119

Carbios’s H119 results confirmed that the business is on a sound financial footing and continues to make progress towards the commercialisation of its technology. Commercial revenues from Carbiolice are scheduled to commence in 2020 and licences for its PET recycling technology are expected to be granted by 2023. Our current DCF-based valuation is €13/share.

Carbios - Commercial revenues in 2020

Carbios’s enzyme-based technology for the decomposition of plastic polymers is well placed to exploit the trend for the minimisation of plastic waste. With a strengthened financial position post the recent rights issue and an explicit timetable for the deployment of its technology, Carbios continues its transformation from a research body into a commercial enterprise. Our DCF model indicates a valuation of €13/share.

Carbios - Commercial revenues in 2020

Carbios's FY18 results were slightly in advance of our estimates and the company remains on track to generate commercial revenues in 2020. We have adjusted our forecasts following the results and our DCF valuation remains at €15/share. However, a key factor in determining Carbios’s short-term valuation will be the nature of the financing for the PET bio recycling demonstration plant, which has yet to be disclosed.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Jehanne Leroy

Carbios - Assemblée Générale des actionnaires du 18 Juin 2020

GouvernanceLe 25 juin 2019, CARBIOS a annoncé le succès d’une augmentation de capital, représentant 48,22% du capital de la Société avant opération. Cette augmentation de capital a été l’occasion pour plusieurs actionnaires (Copernicus AM, L’Oréal via son fonds de capital-investissement BOLD (Business Opportunities for L’Oréal Development), Michelin Ventures et Truffle Capital) d’entrer ou se renforcer au capital. Toutes les délégations financières demandées (résolutions 7 à 12) sont utilisables en période d’offre publique et sont donc potentiellement des dispositifs anti-OPA. Par ailleurs, l...

Jehanne Leroy

Carbios - Assemblée Générale des actionnaires du 18 Juin 2020

GouvernanceLe 25 juin 2019, CARBIOS a annoncé le succès d’une augmentation de capital, représentant 48,22% du capital de la Société avant opération. Cette augmentation de capital a été l’occasion pour plusieurs actionnaires (Copernicus AM, L’Oréal via son fonds de capital-investissement BOLD (Business Opportunities for L’Oréal Development), Michelin Ventures et Truffle Capital) d’entrer ou se renforcer au capital. La nomination de l’un d’eux (Copernicus AM) est proposée à la présente assemblée. Bien que le conseil ne comprenne pas une majorité d'indépendants, Copernicus est le 2e principal act...

Carbios, 19 juin 2019

Le 1er janvier 2019, Ian Hudson a remplacé Jean Falgoux à la présidence du Conseil d'administration. Le mandat d'administrateur de ce dernier est proposé au renouvellement cette année. Nous ne soutiendrons pas ce renouvellement en raison de l'insuffisant taux d'indépendance du Conseil (44%) (résolution 5). En revanche, nous soutenons la ratification de la cooptation de deux administrateurs (résolutions 6 et 7). Les autorisations d'augmentation du capital portent sur des montants trop élevés et peuvent être utilisées en période d'offre publique. Nous recommandons donc l'opposition aux résoluti...

Proxy Report - 14/06/2018

Carbios est une société présentant un conseil d'administration où les fonctions sont séparées et où la majorité des administrateurs sont libres de conflits d'intérêt, ce qui est positif. Nous regrettons cependant que le conseil comporte si peu de femmes et de membres étrangers, et la diversification des profils sera donc un enjeu à venir pour la société. Nous recommandons l'opposition pour l'ensemble des autorisations financières (résolutions 10 à 18 et 21 et 22) : les délégation de compétences pour augmenter le capital portent sur des montants trop importants et sont utilisables en période d...

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