The group announced yesterday morning the signing of an agreement to acquire Scholz Recycling, a major European player in the recycling sector.

According to Invest Securities, it is difficult to precisely assess the value creation of the transaction, even though it would allow the group to increase its revenue by +50%.

The analyst estimates that, assuming a price of 700mEUR (3x EBITDA), the deal will be EPS-neutral in the short term due to low profitability, but could become highly accretive (>+10%) if margins recover.

Pending further details and the finalization expected by September 2026, Invest Securities is leaving its estimates unchanged and reiterating its buy rating with a price target of 11EUR.