Report
Pierre-Antoine Chazal

ALBIOMA: Fit for the future | BUY | EUR24 vs. EUR22

ALBIOMA - BUY | EUR24 vs. EUR22 (+30%)
Fit for the future

Solar PV as a clear strategic pillar
2019 set to be another year of strong growth
A new shareholding structure: ~20% held by long-term investors
Buy recommendation confirmed, FV revised up to EUR24.0/share
Underlying
Albioma

Albioma is an independent energy producer that develops projects in the thermal biomass, solar power, and anaerobic digestion sectors. Co. provides industrial partners with expertise in energy production via hybrid combustion of biomass. In addition, Co. produces biogas by biological decomposition of organic matter in a confined oxygen-free medium, which it either converts into electricity and heat or purifies and then injects into the gas transmission network. It operates facilities on Reunion Island, Mayotte, Guadeloupe, Martinique, and French Guyana, mainland France and Southern Europe. Co. divides its operation into three segments: Thermal Biomass, Solar Power, and Anaerobic Digestion.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Pierre-Antoine Chazal

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