(CercleFinance.com) – Xilam shares climbed more than 12% on Friday on the Paris Stock Exchange following the publication of 2023 annual results marked by much more solid cash generation than expected.
The animation studio says it generated a record free cash flow of 12.6 million euros last year, enabling it to post, at the end of the financial year, a net cash flow of 3. 8 million euros.
This improvement also led to a sharp reduction in net financial debt, reduced to 7.3 million euros, compared to 15.9 million a year earlier.
Current operating profit amounts to 5.1 million euros, more than double compared to that of the 2022 financial year.
Despite a sharp drop in 2024 turnover forecast, the group maintains its forecast for current operating income close to balance this year.
‘As announced six months ago following the cancellation of two major series, 2024 will be a transitional exercise’, Euroland analysts react in a note.
‘We also hope that the group will quickly rise to the level of its ambitions, those of a return to sustainable and profitable growth,’ they add.
Euroland maintains its ‘neutral’ opinion and its price target of eight euros in the absence of catalysts for the stock over a 12-month horizon, while saying it remains on the lookout for ‘positive’ signals.
At 11:45 a.m., the stock signed with a gain of more than 12% one of the strongest gains in a Parisian market down 1.5%. If it has shown an increase of 12% since January 1, its decline over the last 12 months still reaches 83%.