Duyuru • Oct 09
METabolic EXplorer S.A.(ENXTPA:METEX) dropped from CAC AllShares Index METabolic EXplorer S.A. has been dropped from the CAC AllShares Index New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (31% average weekly change). Earnings have declined by 5.1% per year over the past 5 years. Market cap is less than US$10m (€8.78m market cap, or US$9.33m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 5.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 5.1% per year over the past 5 years. Market cap is less than US$10m (€7.22m market cap, or US$7.76m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Feb 18
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€54m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€54m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€17m net loss in 2 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€20.7m market cap, or US$22.3m). New Risk • Oct 20
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €49m Forecast net loss in 2 years: €11m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€54m). Currently unprofitable and not forecast to become profitable over next 2 years (€11m net loss in 2 years). Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€11.7m market cap, or US$12.4m). Reported Earnings • Oct 02
First half 2023 earnings released: €0.33 loss per share (vs €0.51 loss in 1H 2022) First half 2023 results: €0.33 loss per share (improved from €0.51 loss in 1H 2022). Revenue: €69.9m (down 46% from 1H 2022). Net loss: €16.9m (loss narrowed 8.1% from 1H 2022). Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Duyuru • Dec 28
METabolic EXplorer S.A. announced that it has received €8 million in funding METabolic EXplorer S.A. announced that it has raised €8 million in a round of funding on December 27, 2022. Reported Earnings • Oct 02
First half 2022 earnings released: EPS: €0 (vs €2.70 in 1H 2021) First half 2022 results: EPS: €0 (down from €2.70 in 1H 2021). Revenue: €129.9m (up 250% from 1H 2021). Net loss: €18.4m (down 123% from profit in 1H 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Chemicals industry in Germany. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €4.54, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Chemicals industry in Germany. Total returns to shareholders of 175% over the past three years. Reported Earnings • Apr 02
Full year 2021 earnings released Full year 2021 results: Revenue: €171.6m (up €169.7m from FY 2020). Net income: €84.1m (up €93.1m from FY 2020). Profit margin: 49% (up from net loss in FY 2020). Over the next year, revenue is forecast to grow 107%, compared to a 8.2% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 20% share price gain to €5.29, the stock trades at a forward P/E ratio of 315x. Average forward P/E is 10x in the Chemicals industry in Germany. Total returns to shareholders of 252% over the past three years. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 16% share price gain to €6.31, the stock trades at a trailing P/E ratio of 3.7x. Average forward P/E is 12x in the Chemicals industry in Germany. Total returns to shareholders of 260% over the past three years. Duyuru • May 05
METabolic EXplorer S.A. (ENXTPA:METEX) completed the acquisition of Ajinomoto Animal Nutrition Europe S.A.S. from Ajinomoto Co., Inc. (TSE:2802). METabolic EXplorer S.A. (ENXTPA:METEX) signed a share purchase agreement to acquire Ajinomoto Animal Nutrition Europe S.A.S. from Ajinomoto Co., Inc. (TSE:2802) for €15 million on April 15, 2021. Consideration would be paid in two installments, €8 million upon closing and €7 million within 6 months of closing. There is no conditions precedent and transaction is now expected to be completed in the coming weeks.
METabolic EXplorer S.A. (ENXTPA:METEX) completed the acquisition of Ajinomoto Animal Nutrition Europe S.A.S. from Ajinomoto Co., Inc. (TSE:2802) on May 3, 2021. AANE will officially take the name of METEX NØØVISTAGO in the coming weeks. Benjamin Gonzalez, Founder and CEO of METabolic EXplorer, was appointed Chairman of METEX NØØVISTAGO on April 28, 2021. David Demeestere was appointed as Deputy Managing Director of Industrial Operations of the Group. Chairman of AANE, David DEMEESTERE also took over the General Management of METEX NØØVISTAGO. Reported Earnings • Apr 04
Full year 2020 earnings released Full year 2020 results: Net loss: €8.94m (loss widened 8.5% from FY 2019). Is New 90 Day High Low • Mar 01
New 90-day high: €4.70 The company is up 104% from its price of €2.30 on 01 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 8.0% over the same period. Is New 90 Day High Low • Feb 08
New 90-day high: €3.10 The company is up 82% from its price of €1.71 on 10 November 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 19% over the same period. Is New 90 Day High Low • Jan 23
New 90-day high: €2.89 The company is up 66% from its price of €1.74 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 21% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: €2.72 The company is up 63% from its price of €1.67 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 16% over the same period. Is New 90 Day High Low • Nov 27
New 90-day high: €1.96 The company is up 7.0% from its price of €1.83 on 28 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 12% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: €1.61 The company is down 12% from its price of €1.82 on 17 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 7.0% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total losses of €8.44m, with losses narrowing by 5.4% from the prior year. 