(Boursier.com) — Up more than 4%, Dried Environment confirms its rebound from the day before after announcing the acquisition of ECO Industrial Environmental Engineering Pte, a major player in the hazardous industrial waste market in Singapore. With the widest range of products and services, a loyal clientele of leading industrialists and a high-performance industrial tool, ECO will enable Séché to occupy a major position in a dynamic industrial region where the Group was until now not very active. This accretive acquisition is fully in line with Séché’s ambition to support its main industrial clients in the dynamic hazardous industrial waste markets in South-East Asia.
While management recently presented a new 2026 roadmap (organic growth of +5% and MopC of 11/12%), this operation undeniably strengthens these objectives, underlines Oddo BHF (‘outperform’). The broker points out that the valuation remains all the more moderate as the stock has fallen by 10% since June 9. At 5.6x EBITDA and 12.4x 2024 EBIT, the discount compared to historical ratios stands at 21%.
Gilbert Dupont takes the opportunity to ‘reduce’ to ‘accumulate’ his recommendation on the file by aiming for 101 euros.
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