(Boursier.com) — Herige rose by 0.7% this Wednesday to 27.50 euros, while for the 2023 financial year, the group achieved a turnover of 835.6 ME, or -3.2% on a comparable basis by compared to 2022. Faced with a difficult new construction market, the group quickly initiated operational performance actions which made it possible to limit the drop in EBITDA during the 2023 financial year. EBITDA rose thus to 46.8 ME, a limited decline of 8.7 ME, i.e. an EBITDA margin of 5.6%, down 1.4 points compared to 2022. HERIGE’s operating profit stands at 25 .6 ME, or -11.6 ME compared to 2022. The 2023 net profit, Group share, stands at 9.3 ME compared to 21.9 ME in 2022.
The Supervisory Board has decided in this context to propose to shareholders at the General Meeting the payment of a dividend of 1.90 Euro per share. This dividend would be paid from June 10, 2024…
“Results ultimately better than expected” according to Portzamparc who underlines the low valuation of the file with a ratio of 3.6X EV/Ebitda 2024. Enough to target a price of 52 euros while remaining on the purchase.
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