Du mieux en 2016 et beaucoup d'espoir sur 2017 - ACHAT, OC 2,1€
Les résultats 2016 publiés ce matin montrent une amélioration avec un EBITDA en perte de -2,3m€ (vs -2,9m€ en 2015 et -0,7m€ au S2 2016) dans un contexte de forte croissance de l’activité (CA de 11,9m€, +38% à tx de chge cst). Au-delà de cette publication, le groupe fait état d’une forte croissance de l’activité depuis le début de l’année pour l’ensemble des entités. Ces éléments nous conduisent à relever nos attentes et de CA et de Marge Brute de +5% sur 2017/20e et confortent notre attente d’un EBITDA positif sur 2017e (+0,3m€ vs 0,0m€ préc.). Nous réitérons notre opinion ACHAT et notre objectif de cours de 2,1€.Novacyt is an international diagnostics group. Co. sales clinical products used in oncology, microbiology, haematology and serology testing, focusing on the development, manufacture and commercialisation of molecular, protein and whole-cell diagnostic products. Co. also develops new products for the infectious disease and oncology testing markets. Co. operates it business through three divisions that are principally based in the United Kingdom with additional operations in France, China, Australia and the United States: Primerdesign, NOVAprep® and Lab21.
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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