Report
Geoffroy Michalet

Eurazeo : H1 2023 balance sheet NAV/share of € 103.3, average growth in third-party AUM and portfolio companies, 52% discount. Target price adjusted to € 90 from € 100

>NAV per share of €103.3, up 15.4% over 12 months and up 2.7% in H1 - Eurazeo this morning published a net asset value per share of € 103.3 for H1 2023, up 2.7% compared to the end of 2022 (€ 100.6). The latest valuation of AM for third parties was € 2.1bn (end 2022), which is what we are focusing on for the time being, giving a total NAV of € 130.2/share. Total AUM amounted to € 35.2bn, up 3.5% over 12 months and 3.2% over the first half. Third-party AUM, at €...
Underlying
Eurazeo SA

Eurazeo is a listed investment company in Europe. Co. invests in French or other European companies in which it can exercise influence. Co. divides its operaion in five divisions: Holding company, Eurazeo Capital, Eurazeo PME, Eurazeo Croissance, and Eurazeo Patrimoine. Holding company focuses on investment in non-consolidated fund business; Eurazeo Capital invests in companies valued over Euro150,000,000 to Euro200,000,000; Eurazeo PME invests in enterprises valued at less than Euro150,000,000 to Euro200,000,000; Eurazeo Croissance targets companies with high growth potential in promising markets; and Eurazeo Patrimoine groups Co.'s real estate asset management and investment activities.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Geoffroy Michalet

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