(Boursier.com) — Dried Environment climbed 4% to 84 euros on Tuesday, while the group reported sustained growth and a sharp rise in its half-year results. The commercial performance is marked by a contribution to turnover of 429 ME (+21% vs 06/30/21). EBITDA is 100 ME, or 23% of sales, which represents an increase of 23% compared to 06/30/21. Trading profit amounted to 48 ME, or 11% of sales (+45% vs 06/30/21). Profitable performance is marked by an NI CEO of 25 ME, or 6% of turnover (+87% vs 06/30/21). Recurring operating cash flow came to 89 ME (+41% vs 06/30/21). The financial leverage represents 2.7x.
The group has revised its growth and profitability objectives upwards for 2022 with a contributing turnover in organic growth of between +5% and +10% and an EBITDA of between 23% and 24% of turnover. contributory business (at constant scope). Financial leverage should be maintained at 2.7x (excluding acquisitions).
“As a first approach, we are now expecting contributed revenue in 2022 of 859 ME (vs 833 ME previously) with organic growth of 10% and EBITDA of 200 ME (vs 190 ME previously)” comments Portzamparc, who was expecting very good quality H1 results. , “which is the case and even above our expectations” specifies the analyst who concludes: “Above all, the increase in guidance despite a less favorable macro-economic context shows the company’s confidence in its ability to advance its results in a more uncertain environment”. Verdict: “buy aiming for a course of 94.20 euros”.
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