(CercleFinance.com) – Water treatment specialist Bio-UV said on Friday it expects a return to growth in 2024 after recording a sharp drop in its turnover in 2023.
The SME says it achieved a consolidated turnover of 43.1 million euros last year, down 16% compared to 2022, after very strong growth in activity (+54%, of which + 16% organic) carried out in 2022.
The company maintained its financial objectives for 2023, namely a double-digit operating margin (Ebitda), strong free cash flow generation and net financial debt reduced by more than 3.5 million euros.
With an order book which reached 10.5 million euros in mid-January, compared to ten million last year at the same time, Bio-UV has set itself the objective of returning to organic growth in 2024 and to improve its profitability.
Following this publication, Euroland analysts renewed their buy recommendation on the stock, with a price target of four euros.
‘The valuation of the stock (…) offers an unprecedented entry point since the group’s IPO while its fundamentals do not seem fundamentally deteriorated to us’, underlines the brokerage firm.
Listed on the Paris Stock Exchange, Bio-UV shares gained more than 5% at midday on Thursday.
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