Des cultures bénéficiaires - ACHAT, OC 0,71€
Les résultats semestriels d’AgroGeneration sont les premiers à être positifs depuis la fusion entre AgroGeneration et Harmelia en 2013. L’amélioration progressive de la situation ukrainienne, en favorisant la stabilisation de la monnaie locale (hryvnia), a permis un fort recul des charges financières ce qui explique cette performance. Dans un univers marqué par des prix des matières agricoles toujours très bas, la société a constaté une baisse de l’écart de juste valeur de ses actifs biologiques de 2,9m€. Ceci va conduire à une baisse de l’EBITDA sur 2016 malgré des coûts extrêmement bien contrôlés. Nous révisons nos prévisions 2016 avec un CA de 65,3m€ (vs 62,4m€), un EBITDA de 16,3m€ (vs 17,8m€) et un BNA de 0,03€ (vs 0,04€). Opinion ACHAT maintenue avec un objectif de cours inchangé à 0,71€.Agrogeneration SA is a France-based company engaged in the fishing and farming industry. The Company is a producer of grain and oilseeds. Following its merger with Harmelia, the Company becomes the producer of grain and oilseeds in Ukraine. Agrogeneration SA focuses mainly on the production in Ukraine, both in terms of cultivated acreage and operational efficiency. The Company follows traditional crop rotation and puts money into fertilizers, seeds, and agricultural chemicals for the purpose of achieving profitability crop. Operated farmlands of Agrogeneration SA are located in a number of regions in Ukraine, such as Kharkiv, Lviv and Sumy, among others, which represent standards and a propitious climate for achieving yields.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.