(Boursier.com) — Winfarm lost 1% to 7.70 euros this Friday, while in the first half of 2023, the group recorded a consolidated turnover of €71.4 million, up +16.1% compared to the first half of 2022 and stable at constant perimeter.
EBITDA at June 30, 2023 stood at 1.6 ME compared to 2.5 ME at the end of June 2022, penalized by the increase in external charges and salaries.
In view of this situation, the EBITDA rate represents 2.3% of half-yearly turnover in 2023 compared to 4.1% over the first 6 months of the 2022 financial year. The group’s share of net income amounts to -0.7 ME, compared to 0.6 ME at the end of the first half of 2022.
Normative level
As of June 30, 2023, the cash position was 121 KE, compared to 14.1 ME as of December 31, 2022. This one-off change is explained by investments linked to infrastructure strengthening works as well as by the repayment of part of its debt financial year which was coming due. As of December 31, 2023, cash flow should return to a normative level of around 10 ME, close to 2022 levels, benefiting from new financing already obtained from banking partners for 3.6 ME, and ongoing discussions with the banking pool for the refinancing of the previously mentioned investments.
EBITDA for the 2nd half of 2023 should show an increase compared to the 1st half of 2023… “Although the situation is not ideal, the figures are in line with our latest forecasts and our annual landing scenarios remain unchanged” comments Portzamparc which therefore confirms its recommendation to ‘Buy’, while the stock shows a very clear decline over one month…
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