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    CRI   FR0000130692

CHARGEURS

(CRI)
  Report
Real-time Euronext Paris  -  11:37 2022-09-23 am EDT
11.49 EUR   -3.85%
09/22CHARGEURS : Adjustments to our FY 22-23 outlook following the H1 results
AL
09/22Fribourg Family Group Raises Stake In Chargeurs To 26%
MT
09/15CHARGEURS : Disclosure of transactions in own shares - week 35
PU
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Chargeurs : Adjustments to our FY 22-23 outlook following the H1 results

09/22/2022 | 11:38am EDT

Adjustments to our FY 22-23 outlook following the H1 results
EPS CHANGE
CHANGE IN EPS
2022 : € 1.05 vs 1.32 -20.4%
2023 : € 1.35 vs 1.48 -9.08%

Following the publication of the H1 22 results, we have adjusted our FY 22-23 EPS estimates downward. The FY 22 EPS forecast now sees a decline due to lower than expected revenues and margin contribution from Chargeurs Personal Care (formerly Chargeurs Healthcare Solutions), because of the improved sanitary situation. Based on this, we estimate Chargeurs Personal Care's revenues at €28.4m versus €85.3m previously and underlying profit of €7.1m versus €18m previously in FY 22. We have also lowered our estimates for the CMS (Chargers Museum Solutions) division in FY 22 to be in line with the 5% operating margin in H1. We now estimate an underlying operating profit margin for FY 22 of 6.5%, bringing the underlying profit down to €5.1m from the previously estimated €6.8m. However, we believe there will be an improvement in 2023 and 2024 as projects won in 2021 and 2022 should deliver profits in 2023-24.


CHANGE IN DCF
€ 37.2 vs 38.3 -3.08%

Our DCF-based valuation sees a marginal cut from €38.3 to €37.2 after incorporating our adjustments to the FY 22-23 EPS forecast (see EPS comment). We expect revenues to reach c.€905m against €926m previously in FY 24 and an operating underlying profit of €75m.

Copyright 2022, Alphavalue
1er Bureau indépendant en Europe avec 470 valeurs passées au crible


All news about CHARGEURS
09/22CHARGEURS : Adjustments to our FY 22-23 outlook following the H1 results
AL
09/22Fribourg Family Group Raises Stake In Chargeurs To 26%
MT
09/15CHARGEURS : Disclosure of transactions in own shares - week 35
PU
09/15CHARGEURS : The up-and-coming luxury player
AL
09/14CHARGEURS : Ex-dividend day for optional dividend
FA
09/12CHARGEURS : Disclosure of transactions in own shares - week 36
PU
09/12CHARGEURS : H1 22: an encouraging start to FY 2022 demonstrating the group's resilience
AL
09/09CHARGEURS : Availability of the 2022 Interim financial report
PU
09/09CHARGEURS : 2022 Interim financial report
PU
09/09CHARGEURS : Security operations
CO
More news
Analyst Recommendations on CHARGEURS
More recommendations
Financials
Sales 2022 787 M 765 M 765 M
Net income 2022 26,6 M 25,8 M 25,8 M
Net Debt 2022 158 M 154 M 154 M
P/E ratio 2022 10,4x
Yield 2022 6,86%
Capitalization 275 M 268 M 268 M
EV / Sales 2022 0,55x
EV / Sales 2023 0,49x
Nbr of Employees -
Free-Float 71,2%
Chart CHARGEURS
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Technical analysis trends CHARGEURS
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 11,49 €
Average target price 24,76 €
Spread / Average Target 115%
EPS Revisions
Managers and Directors
Michaël Fribourg Chairman & Chief Executive Officer
Olivier Buquen Group Chief Financial Officer
Gustave Gauquelin Chief Operating Officer
Isabelle Guichot Independent Director
Cécilia Ragueneau Independent Director
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