(Boursier.com) — Miliboo fell 2.2% to 2.25 euros, while in the context of a 2nd quarter of 2022-23 marked by an economic and inflationary climate weighing on household morale, the Haute-Savoie group nevertheless outperformed the market: The company achieved quarterly revenue of €11.8 million, up +24.9% compared to that recorded in the 2nd quarter of the 2021-22 financial year.
Since the second half of the previous financial year, Miliboo has faced very high cost prices for its products due to global inflationary pressures, amplified by the unfavorable trend in the euro-dollar parity. This economic impact, which is difficult to fully pass on to sales prices, weighed on the gross margin and EBITDA, which should therefore come out at around -1.5 millionwith a loss concentrated in the 1st quarter, the 2nd quarter being close to equilibrium thanks to the very good level of activity recorded over the period.
Miliboo will continue to focus on the gradual restoration of its gross margin rate, under the effect of the downward trend observed in Asia-Europe logistics costs and an adjusted commercial policy. “In the end, following the update of our model, which also incorporates an increase in the risk premium, our target price comes out at 4.76 euros against 5.15 euros” comments Greensome Finance which confirms its opinion “Buy “.
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