(News Bulletin 247) – Cogra reported better-than-expected half-year results on Monday as the pellet producer took advantage of a booming energy wood market.
In the first exchanges, the title climbed more than 6.5% on the Paris Stock Exchange.
Over the first half of its 2021/2022 financial year, ending on December 31, the Mende group says it has generated a “historic” Ebitda of 4.9 million euros, corresponding to an operating margin of 19%.
Its net income over the period stands at 2.58 million euros, ie a tripling of the 805,000 euros published a year earlier.
Already published, the half-year turnover reached 25.4 million euros, up 25% compared to the previous financial year.
In its press release, Cogra explains that it has fully benefited from its production capacities, increased by the start-up of a new factory, and from the good management of its stocks and supplies.
The company recalls that it has also chosen to limit the increase in its selling prices to its customers.
After this successful first, Cogra anticipates a solid second half and expects to achieve an Ebitda margin of at least 15% over the full year, recalling the seasonal nature of its business, which is very focused on the winter season.
‘We estimate that this objective will be largely exceeded’, react this morning the analysts of Euroland, who confirm their target price of 21 euros and their recommendation to buy the title.
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