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.

Alexandre DESPREZ
  • Alexandre DESPREZ

Decent Q3 results

Decent Q3 results EARNINGS/SALES RELEASES Drone Volt released a rather good Q3 trading update, more than doubling its top line and posting a significant improvement in gross margins, despite being affected by a more unfavourable product mix. The outlook remains unchanged for 2024 and 2025, despite the desire to reduce the distribution share in the revenue mix going forward, marking confidence in the new activities. We thus reiterate our positive stance on the stock. FACT Sales grew by 139% c...

Fabrice Farigoule
  • Fabrice Farigoule

H1 24: not yet meaningful (Crossject)

H1 24: not yet meaningful EPS CHANGE CHANGE IN EPS 2024 : € (0.24) vs (0.12) ns 2025 : € 0.02 vs 0.02 We have fine-tuned our forecasts for the current year. This plays a very minor role for Crossject since the story is that of the future market launches of the company’s NTEs (New Therapeutic Entities) as from FY25 and has no impact on our valuation. For the sake of detailing, the main difference with our previous FY24e EPS lies in a likely lower level of capitalised production than we expec...

Saïma Hussain
  • Saïma Hussain

Nothing to rattle IDI

Nothing to rattle IDI EARNINGS/SALES RELEASES H1 24 may have been a flat start to the year for IDI, and yet the HoldCo has once again proved its resilience in a persistently challenging environment, with NAV per share remaining constant after taking the dividend into account. The decline in the number of transactions to two in the first half is not a cause for concern, given that the group has carried out more than 36 deals over the past two years. The company ended the half-year with a soli...

Fabrice Farigoule
  • Fabrice Farigoule

H1 24: no real surprise, but a glimpse of disappointment

H1 24: no real surprise, but a glimpse of disappointment EARNINGS/SALES RELEASES The company released its H1 24 numbers and reminded the milestones achieved over the past few months. Even if we still believe in the case, we are a bit perplexed about the ability of the group to have its products reach the market without another financing round. We also found that management shows a degree cautiousness with respect to the timing of such a launch. Whether this is a just a way to make sure not to ...

Alexandre DESPREZ
  • Alexandre DESPREZ

Drone Volt unveiled promising H1 24 results

Drone Volt unveiled promising H1 24 results EARNINGS/SALES RELEASES Drone Volt published its complete H1 24 results yesterday, which were revised downwards on the top line and gross margin levels. Nonetheless, the EBITDA margin trend seems to be reversing towards positive territory, and the group now openly aims to reach it in 2025. This is a strong commitment that could change the equity story if the management manages to deliver. FACT Sales were slightly revised downwards to €23.4m (€23.6...

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