(CercleFinance.com) – Lhyfe unveiled its 2023 annual results yesterday evening marked by the announcement of a strengthening of its economic model, with the objective of promoting its profitability.
The green hydrogen producer, whose turnover doubled to 1.3 million euros last year, has unveiled a new trajectory focused on accelerating its profitability.
With the addition of a new source of income based on development and asset management, with projects financed with one or more partners, the company explains that it intends to quickly generate development income and generate profitability resilient in the long term, resulting from asset management.
The Nantes group thus indicates that it is targeting a 2024 turnover multiplied by four compared to 2023.
By 2026, it says it is aiming for an operating margin (Ebitda) increased to 10% for a turnover of 100 million euros.
Its Ebitda margin target for 2030 is above 30%, accompanied by a 2030 target of 3 GW of assets under management, of which around 20% carried by the company.
‘The valuation remains difficult to understand given the company’s development plan on a market where the ecosystem is slow to be put in place’, however, estimate the analysts at Oddo BHF, whose price target has been reduced from 5, 5 to 4.5 euros.
They maintain their ‘neutral’ view on value.
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