Maîtrise du cash burn et plan de marche respecté - ACHAT - OC 18,5€ (vs 16,7€)
Les résultats annuels confirment une excellente maîtrise des coûts ainsi que le plan de marche prévu lors de l’introduction en bourse : l’EBIT ressort stable à -3,3m€ (vs -3,1m€ en 2013) grâce à une baisse des frais de R&D externes. La consommation de cash est de 3,5m€ et CARBIOS confirme que 4m€/an restera un maximum sur les prochaines années. La trésorerie s’élève à 11,1m€ (vs 14,6m€ au 31/12/13). Cette publication nous conforte dans notre calendrier prévisionnel de premiers revenus en 2016. Au regard des résultats scientifiques déjà obtenus et du potentiel des marchés adressés, nous restons à l’ACHAT sur la valeur avec un objectif relevé à 18,5€ (vs 16,7€) soit un upside +45%.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.
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.
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