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Bastide Le Confort Medical: 1 director
A director at Bastide Le Confort Medical bought 3,000 shares at 14.420EUR and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two y...
- Robin Leclerc (IDMidCaps)
Bastide Le Confort Médical - Bastide Le Confort Médical
EBITDA improves in H1...... but soaring cost of debt drags down net incomeCash generation still penalized by one-off itemsRising indebtedness upsets investors, but we're not giving up (yet)High goodwill but low risk without major changesBuy opinion confirmed, but we are becoming increasingly impatient with deleveraging
- Delphine Brault
- Quentin Borie
ODDO BHF Small & MIDCAP MORNING NEWS - 03/21/2024
GTT boasts a secure growth profile with enhanced visibility on the back of high-quality backlog. With over € 1.8bn in secured revenues, we are anticipating an EBITDA CAGR of 22% over 2023-26. Growth drivers were confirmed (LNG fuel, hydrogen, digital services) and the news flow should remain favourable (future orders). The valuation remains modest (13x EBITDA vs 13.4x for historical ratio) in light of the anticipating growth (0.6x 2023-26 CAGR). Our target price stands at € 170 exclu...
EURN EURONAV NV
ALCLA CLASQUIN SA
BLC BASTIDE LE CONFORT MEDICAL SA
IPH INNATE PHARMA SA CLASS A
VIRP VIRBAC SA
VETO VETOQUINOL SA
NRG NRJ GROUP SA
GBT GUERBET SA
FFP FFP
SAVE SAVENCIA SA
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
COPN COSMO PHARMACEUTICALS NV
AVTX AVANTIUM NV
VOS VOSSLOH AG
CLA CLARANOVA SE
- Delphine Brault
- Quentin Borie
ODDO BHF Small & MIDCAP MORNING NEWS - 21/03/2024
GTT présente un profil de croissance sécurisé avec une visibilité renforcée à l’appui d’un backlog de qualité. Fort d’un CA sécurisé de plus de 1.8 Md€, nous tablons sur un TMVA 2023/26 de l’EBITDA de +22%. Les relais de croissance sont confirmés (GNL Carburant, Hydrogène, Services digitaux) et le newsflow devrait demeurer bien orienté (futures commandes). La valorisation reste modeste (13x l’EBITDA vs 13.4x pour les références historiques) au regard de la croissance attendue (0.6x TM...
EURN EURONAV NV
ALCLA CLASQUIN SA
BLC BASTIDE LE CONFORT MEDICAL SA
IPH INNATE PHARMA SA CLASS A
VIRP VIRBAC SA
VETO VETOQUINOL SA
NRG NRJ GROUP SA
GBT GUERBET SA
FFP FFP
SAVE SAVENCIA SA
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
COPN COSMO PHARMACEUTICALS NV
AVTX AVANTIUM NV
VOS VOSSLOH AG
CLA CLARANOVA SE
- Christophe-Raphaël Ganet
Bastide : H1 2023-24 results: revenues hold up well in persistently in...
>H1 underlying operating profit slightly shy of our forecasts - Bastide published its H1 2023-24 results, reporting EBITDA of € 53.6m, up 7.5% (margin: 20.2% vs 20% in H1 2022-23). The underlying operating profit came in at € 21.9m (+2.1%) and net profit at € 2.4m (-7.7%), impacted by 1/ a 150bp increase in personnel costs, 2/ a net loss of € 1.2m related to a discontinued business (disposal of Livramedom), 3/ restructuring costs of € 0.4m, 4/ an increase in financial...
- Christophe-Raphaël Ganet
Bastide : Résultats S1 2023/24 - Résilience de l’activité dans un cont...
>Un ROC S1 légèrement en dessous de nos attentes - Bastide publie ses résultats S1 2023/24 et affiche un EBITDA de 53,6 M€, +7.5% (marge : 20,2% vs. 20% au S1 2022/23). Le ROC se situe à 21,9 M€ (+2,1%) et le RN à 2,4 M€ (-7,7%), impacté par 1/ une augmentation de 150 pb des frais de personnels, 2/ une perte nette de 1,2 M€ liée à un abandon d’activité (cession de Livramedom) 3/ des coûts de restructuration de 0,4 M€, 4/ une augmentation des frais financiers pour 11,9...
- Olfa Taamallah
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 06/12/2023
Exail dispose d’une bonne visibilité sur son activité (backlog >600 M€), notamment grâce à un solide momentum sur son exposition à la défense, alors que l’acquisition d’iXblue offre un potentiel de cross selling. La progression des résultats (TMVA EBITDA 23/26e de 19%) devrait permettre d’amorcer un rapide désendettement (DN/EBITDA hors ICG 1x en 2026e). A court terme, l’hypothèse d’un nouveau mégacontrat, dans la lutte antimines avec la marine australienne, constituerait un upside su...
- Olfa Taamallah
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 12/06/2023
Exail has good visibility over its revenue growth prospects (backlog >€ 600m) thanks to solid momentum from exposure to the defence industry, while the acquisition of iXblue offers cross-selling potential. Earnings growth (2023-26e EBITDA CAGR: 19%) should pave the way for rapid deleveraging (ND/EBITDA excl. ICG: 1x for 2026e). In the short term, the prospect of a new mine-countermeasure mega-contract with the Australian navy would represent € 7 per share in extra upside and additiona...
- Christophe-Raphaël Ganet
Bastide : Sale of Distrimed (2.4% of revenue seen in 2023-24): signal ...
>The sale of another noncore business - Following the sale of Livramedom (ostomytherapy) in February, Bastide announced the evening before last it sold its 70%-owned subsidiary Distrimed (€ 13m revenues, 25 FTE staff) to the Hygie31 group, a service provider specialising in consulting and support for healthcare networks in Europe. Hygie31 is majority-owned by the Latour Capital investment fund, with BPI France as a minority shareholder (Hygie31 federates 1060 member p...
- Christophe-Raphaël Ganet
Bastide : Cession de Distrimed (2,4% du CA guidé pour 2023-24e)… Un si...
>Une nouvelle cession d’activité « non core » - Après la cession de Livramedom (stométhérapie), en février dernier, Bastide a annoncé avant-hier soir la cession de sa filiale (à 70%) Distrimed (13 M€ de CA – 25 personnes en ETP) au groupe Hygie31, prestataire spécialisé dans le conseil et l’accompagnement des réseaux de santé, en Europe. Hygie31 est détenu majoritairement par le fonds d’investissement Latour Capital et BPI France en actionnaire minoritaire (Hygie31 fé...
- Robin Leclerc (IDMidCaps)
- Jean-François Granjon
- Louis Boujard
- CFA
PUB PUBLICIS GROUPE SA
BEKB BEKAERT SA
ALLIX WALLIX GROUP SA
PBB DEUTSCHE PFANDBRIEFBANK AG
BLC BASTIDE LE CONFORT MEDICAL SA
ALTR ALTRI SGPS SA
LPE LAURENT-PERRIER SA
ISP INTESA SANPAOLO S.P.A.
WPP WPP PLC
SOC SUBSEA 7 S.A.
ARCAD ARCADIS NV
GNFT GENFIT SA
UCG UNICREDIT S.P.A.
EDR EDREAMS ODIGEO SA
RENE REDES ENERGETICAS NACIONAIS SA
COPN COSMO PHARMACEUTICALS NV
VK VALLOUREC SA
ALHAF HAFFNER ENERGY SA
- Jean-François Granjon
- Louis Boujard
- CFA
BEKB BEKAERT SA
ALLIX WALLIX GROUP SA
PBB DEUTSCHE PFANDBRIEFBANK AG
BLC BASTIDE LE CONFORT MEDICAL SA
ALTR ALTRI SGPS SA
LPE LAURENT-PERRIER SA
ISP INTESA SANPAOLO S.P.A.
SOC SUBSEA 7 S.A.
ARCAD ARCADIS NV
GNFT GENFIT SA
UCG UNICREDIT S.P.A.
EDR EDREAMS ODIGEO SA
RENE REDES ENERGETICAS NACIONAIS SA
COPN COSMO PHARMACEUTICALS NV
VK VALLOUREC SA
ALHAF HAFFNER ENERGY SA
- Christophe-Raphaël Ganet
Bastide : Q1 2023-24 revenue in line with guidance
>Q1: growth and mix broadly in line - Q1 revenue (non-calendar year) came in at € 127.9m, up 4.8% on a reported basis and 5.3% on an organic basis (up 7% on a proforma basis). The Services segments contributed to growth (Respiratory: +13% of which 12.2% organically vs +11.4% in FY 2022-23; PNI: 14.1% and +8.3% organically (vs +12.6% organically in FY 2022-23), but Home Care (40% of revenue) continued to underperform: -1.4% (vs -2.9% organically in FY 2022-23 / du...
- Christophe-Raphaël Ganet
Bastide : CA T1 2023-24 : en ligne avec la trajectoire guidée
>T1 : croissance et mix assez conforme - Le CA T1 (exercice décalé) ressort à 127,9 M€, soit +4,8% en données publiées, et +5,3% organique (+7% proforma). Les segments de Services contribuent à la croissance (ARD : +13% dont 12,2% organique vs +11,4% en FY 2022-23; PNI : 14,1% et +8,3% organique (vs +12,6% organique en 2022-23), mais le MAD (40% du CA) continue à sous-performer : -1,4% (vs -2,9% organique sur FY 2022-23 / effet, notamment, d’un décalage des renou...
- Robin Leclerc (IDMidCaps)
Bastide Le Confort Médical - Debt reduction has begun but needs to acc...
2022/23 results in line with our expectationsThe beginnings of debt reductionA structurally robust market offering good visibilityContinued deleveraging remains the priorityDebt reduction could have a multiplier effect on share price performance
- Emmanuel Matot
- Fehmi Ben Naamane
- Marc Lavaud
ALFOC FOCUS HOME INTERACTIVE SA
BFIT BASIC-FIT NV
VAC PIERRE & VACANCES SA
WTB WHITBREAD PLC
FLY SOCIETE FONCIERE LYONNAISE SA
BIO BB BIOTECH AG
STF STEF
BLC BASTIDE LE CONFORT MEDICAL SA
SRP SRP GROUPE SA
GBT GUERBET SA
SAVE SAVENCIA SA
ROYAL VOPAK NV
SHOT SCANDIC HOTELS GROUP
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
INSD VERIMATRIX SA
LFDE LA FRANCAISE DE L'ENERGIE SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
TKO TIKEHAU CAPITAL SCA
DUE DURR AG
B4B METRO AG
RBO ROCHE BOBOIS INTERNATIONAL SAS
IHG INTERCONTINENTAL HOTELS GROUP PLC
VRLA VERALLIA SAS
TE TECHNIP ENERGIES NV
ALLFG ALLFUNDS (UK) LTD
STM STABILUS SE
- Emmanuel Matot
- Fehmi Ben Naamane
- Marc Lavaud
ALFOC FOCUS HOME INTERACTIVE SA
BFIT BASIC-FIT NV
VAC PIERRE & VACANCES SA
WTB WHITBREAD PLC
FLY SOCIETE FONCIERE LYONNAISE SA
BIO BB BIOTECH AG
STF STEF
BLC BASTIDE LE CONFORT MEDICAL SA
SRP SRP GROUPE SA
SAVE SAVENCIA SA
ROYAL VOPAK NV
SHOT SCANDIC HOTELS GROUP
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
LFDE LA FRANCAISE DE L'ENERGIE SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
TKO TIKEHAU CAPITAL SCA
DUE DURR AG
B4B METRO AG
IHG INTERCONTINENTAL HOTELS GROUP PLC
VRLA VERALLIA SAS
TE TECHNIP ENERGIES NV
ALLFG ALLFUNDS (UK) LTD
STM STABILUS SE
- Christophe-Raphaël Ganet
Bastide : Feedback from analysts' meeting: one year of financial disci...
>Organic and cash focus for 2023-24 - Our discussions with the company highlighted three main points:1/ Growth and margins. Bastide is targeting revenues of € 540m in 2023-24.Bastide said it would benefit from i/ persistently healthy demand, particularly internationally (>+10% est.), and in France in healthcare services (e.g. diabetes and the structuring of the dedicated team), ii/ a more modest consolidation effect (three deals including Probace and 4Se-Med...
- Christophe-Raphaël Ganet
Bastide : Feedback réunion d’analystes : un an de discipline financièr...
>Focus organique et focus cash pour l’exercice 2023-24 - De nos échanges avec la société, nous retenons 3 points principaux:1/ Croissance et marge. Bastide vise 540 M€ de CA pour 2023-24e.Bastide a indiqué qu’il bénéficiera i/ d’une demande toujours saine, en particulier à l’international (>+10%e), et en France sur les Prestations/Services (eg. Diabète et la structuration de l’équipe dédiée), ii/ d’un effet périmètre plus modeste (3 opérations dont Probace e...
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