お知らせ • Sep 21
HID Global SAS completed the acquisition of 14.03% stake in Evolis SA (ENXTPA:ALTVO) from Crédit Mutuel Equity SCR and Crédit Mutuel Innovation. HID Global SAS entered into a share purchase agreement to acquire 14.03% stake in Evolis SA (ENXTPA:ALTVO) from Crédit Mutuel Equity SCR and Crédit Mutuel Innovation for €32 million on July 19, 2023. HID also entered into put option agreement with the shareholders of Cedys & Co S.A.S. (“Cedys”) for all of the Cedys’ shares, noting that Cedys owns approximately 84.4% of the Evolis shares. The purchase price represents a premium of approximately 36% over Evolis’ volume-weighted average share price on Euronext Growth Paris during the last 60 traded days up to and including July 17, 2023, of €32.30. After the completion of the Acquisition, HID would own approximately 98.5% of the share capital and voting rights of the Company, (i.e. 5,140,349 shares) and would then launch a mandatory public tender offer (OPAS-RO)1 shortly thereafter for the remaining 1.5% outstanding shares of Evolis. The Acquisition is conditional upon customary closing conditions and regulatory approval and would be expected to close during the third quarter of 2023.
HID Global SAS completed the acquisition of 14.03% stake in Evolis SA (ENXTPA:ALTVO) from Crédit Mutuel Equity SCR and Crédit Mutuel Innovation on September 20, 2023. Reported Earnings • Sep 20
First half 2023 earnings released: EPS: €1.38 (vs €1.31 in 1H 2022) First half 2023 results: EPS: €1.38 (up from €1.31 in 1H 2022). Revenue: €57.3m (up 7.5% from 1H 2022). Net income: €7.18m (up 5.1% from 1H 2022). Profit margin: 13% (in line with 1H 2022). New Risk • Jul 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Dividend is not well covered by cash flows (125% cash payout ratio). Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €36.00, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 30x in the Tech industry in Europe. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €26.40, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 36x in the Tech industry in Europe. Board Change • Apr 08
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.