Report
Laurent Wilk

Vers des horizons plus radieux - ACHAT - OC 0,9€

Le CA 2015 ressort à 59,2m€ (-41,5% vs publié, -1,8% proforma) et les ventes d’électricité, qui représentent maintenant 86,4% du total sont en hausse de 11,2% à 51,1m€. L’année 2015 a, en effet, été caractérisée par de bonnes conditions de vent et la mise en service d'un parc éolien de 21MW. Suite à cette publication, nous relevons nos productibles sur 2016 et 2017 et conservons notre objectif de cours de 0,9€ malgré la forte hausse de la prime de risque du marché (+1,3pt depuis notre dernier flash). En conséquence, nous réitérons notre opinion ACHAT avec comme principaux catalyseurs à CT les résultats 2015 et l’échéance des BSA.
Underlying
Futuren SA

Futuren is an independent producer of electricity from wind power based in France with a focus on onshore wind energy. Co. designs, builds and operates onshore wind farms in Germany, France, Morocco and Italy. Co.'s operations cover the entire value chain for producing electricity from wind energy: prospecting, development, construction and operation of wind farms. Co. operates 1,194 megawatts (MW), of which 301 MW were held for own account, 337 MW were controlled and 556 MW were operated for third parties. Co.'s portfolio of wind projects totaled 580 MW, of which 219 MW of projects having obtained a building permit or being under construction.

Provider
Invest Securities
Invest Securities

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.

Analysts
Laurent Wilk

Other Reports on these Companies
Other Reports from Invest Securities

ResearchPool Subscriptions

Get the most out of your insights

Get in touch