공시 • 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). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to €42.80, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 25x in the Tech industry in France. Total returns to shareholders of 68% over the past three years. Upcoming Dividend • May 25
Upcoming dividend of €2.24 per share at 6.0% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 02 June 2023. Trailing yield: 6.0%. Within top quartile of French dividend payers (5.3%). Higher than average of industry peers (1.9%). Board Change • Feb 07
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. Buying Opportunity • Dec 30
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 2.0%. The fair value is estimated to be €38.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 27%. Board Change • Nov 16
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. Reported Earnings • Sep 30
First half 2022 earnings released: EPS: €0 (vs €0.66 in 1H 2021) First half 2022 results: EPS: €0. Revenue: €53.3m (up 44% from 1H 2021). Net income: €6.80m (up 98% from 1H 2021). Profit margin: 13% (up from 9.3% in 1H 2021). The increase in margin was driven by higher revenue. Board Change • Aug 22
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. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improved over the past week After last week's 18% share price gain to €31.80, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 17x in the Tech industry in France. Total returns to shareholders of 38% over the past three years. Upcoming Dividend • May 25
Upcoming dividend of €1.92 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 03 June 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.0%. Within top quartile of French dividend payers (5.0%). Higher than average of industry peers (1.8%). Board Change • Apr 27
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. Reported Earnings • Mar 28
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €84.4m (up 22% from FY 2020). Net income: €9.80m (up €8.17m from FY 2020). Profit margin: 12% (up from 2.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.2%. Reported Earnings • Sep 30
First half 2021 earnings released The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €36.9m (up 14% from 1H 2020). Net income: €3.40m (up €4.16m from 1H 2020). Profit margin: 9.2% (up from net loss in 1H 2020).