Avantium : Model Update
>Integrating 2023 results - We have integrated the recent full financial release for FY23 and updated our estimates slightly. Worth recalling is that underlying revenue (excluding grants) increased by 11% yoy to €19.7 and was 12% above our estimates. Gross margin came at ~72% which was 100bp and 800bps lower than BB css (73%) and our estimates (80%) while EBITDA was 14% higher (worse) than our estimates (-€24.1m) and 11% worse than css (-€24.7m). Also with regar...Avantium NV Formerly known as Avantium Holding BV. Avantium NV, formerly Avantium Holding BV, is a company based in the Netherlands engaged in environmental research and development (R&D). The Company develops chemical technologies and production processes to convert bio-based feedstock into sustainable products. The Company's business comprises three segments: Catalysis, Renewable Chemistries, and YXY. Catalysis segment provides catalysis R&D services and systems to chemical, refinery and energy companies, utilizing its Flowrence Technology Platform to devise the appropriate catalyst testing solutions. Renewable Chemistries is the development division with a portfolio of projects focusing on the conversion of biomass to chemical building blocks and plastic materials. The YXY segment comprises the activities of Syviana, the joint venture with BASF SE. The YXY technology is used to convert plant-based sugars into chemical building blocks for plastics, such as polymer polyethylenefuranoate (PEF), and other applications.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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