AlphaValue Corporate Services

AlphaValue Corporate Services capitalise on the research and credit analysis expertise deployed by AlphaValue with major institutional investors at European level over the past nine years. The proprietary tools and processes enabling AlphaValue Corporate Services to establish a valuation and/or a credit risk assessment are identical to those used by AlphaValue to the benefit of its institutional clients. The only difference is the recognition that a company evaluation cannot be dissociated from the fact that the latter is paying for the service (AlphaValue Corporate Services), as opposed to the investor footing the bill (AlphaValue). AlphaValue’s research tools are characterised by the transparency of the valuation methodologies, their responsiveness to market data and by nine years’ experience of a universe numbering more than 450 European companies. Through its coverage and sector exhaustiveness, AlphaValue ranks alongside the major research houses in Europe and constitutes the only new entrant to the European space in the past decade. This significant presence is reflected in an unrivalled distribution capability via platforms commonly adopted by investors to access research: Factset, Bloomberg, Capital IQ and the numerous websites. AlphaValue is one the largest research contributors to these platforms, to the benefit of AlphaValue Corporate Services issuer clients.  The AlphaValue Corporate Services analysts are AlphaValue’s sector specialists. Their robust knowledge of the business models in their sectors enables the rapid generation of incisive, relevant research and advantageous interaction with the management teams.

Fabrice Farigoule
  • Fabrice Farigoule

Yet another round of financing

Yet another round of financing FINANCING ISSUE Crossject has raised €5m through the issuance of convertible bonds. Management indicates that this financing round should meet funding requirements until the EUA is granted. We will incorporate this financing, considering the benefits of the additional cash and the potential for further dilution. However, due to the amount and nature of the issuance, the impact on our figures will be limited. FACT Crossject has announced the completion of a €5m...

Saïma Hussain
  • Saïma Hussain

IDI back on the front foot

IDI back on the front foot EARNINGS/SALES RELEASES At the risk of repeating ourselves, the picture is now clear: after a sluggish 2024, IDI has moved at a very different rhythm in 2025. The group has shifted from caution to controlled acceleration. Q3 itself may look modest in terms of transactions, but the comparison with last year is striking. Activity has picked up, investment income has doubled, and the pace of portfolio work has visibly intensified. IDI is not chasing deals for the sake o...

Egor Sonin
  • Egor Sonin

Q3: Cementir builds its 2026 recovery

Q3: Cementir builds its 2026 recovery EARNINGS WRAP-UP During the first nine months of 2025, Cementir Holding delivered a solid operational performance despite a tough macroeconomic environment. Cement volumes continued to grow, helping revenues remain stable at €1.23 billion. EBITDA edged down 2.9% to €287.3 million, affected by a €12.5 million negative FX impact and €2.7 million in non-recurring charges. A standout feature of the period was the sharp improvement in the balance sheet, as net ...

Christian Auzanneau
  • Christian Auzanneau

Confirmed resilience, but no real momentum yet

Confirmed resilience, but no real momentum yet EARNINGS/SALES RELEASES The communication maintains a positive tone. Management will update on two business segments—photovoltaics and data centres—on 24 February 2026, during the presentation of 2025 results after market close. FACT Residential development bookings increased by 12% in 9M 25, compared to a 16% rise in H1 25. Demand from first-time buyers grew by 30% in H1 25 and 21% over 9M 25. Retail asset rental growth stands at 1.7% on a cur...

Alexandre DESPREZ
  • Alexandre DESPREZ

Opinion change, from Buy to Add (Drone Volt)

OPINION CHANGE CHANGE IN OPINION CHANGE IN EPS 2025 : € (0.06) vs (0.06) ns 2026 : € 0.02 vs 0.03 -29.1% Our EPS forecast for 2026 has suffered from the higher number of shares (+12m to 69m), linked to the €6.4m capital increase announced this morning. CHANGE IN NAV € 0.86 vs 1.14 -24.7% Our NAV has been impacted by the 12m increase in the number of shares to c.69m, expected at the year-end 2025, which has been partially offset by the higher level of net cash. Both of these changes result...

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