(News Bulletin 247) – Memscap announced on Wednesday that it had returned to net profit in its 2022 financial year, thanks in particular to the dynamism of its aeronautical activities, which remain the group’s leading market.
After taking into account discontinued operations, namely its American division, the manufacturer of high-precision sensors posted a net profit of 1.05 million euros for the past financial year, compared with a net loss of 328,000 euros in 2021. .
The group indicates that it generated an operating profit from continuing operations of 236,000 euros, against a profit of 580,000 euros for the 2021 financial year.
The turnover presents him, an increase of 9.4% to 9.3 million euros, including a growth of 24.9% for sales in aeronautics which amounted to 6.7 million.
With 72% of consolidated revenue – compared to 63% in 2021 – this area of activity remains more than ever the group’s leading market segment.
Addressing its outlook, Memscap said it expects an average annual growth rate of around 20% between 2022 and 2026, a goal which it said should “be clearly manifested” as early as fiscal 2023.
Following this publication, the action rose by 1.8% on Wednesday morning on the Paris Stock Exchange.
‘At the current price, Memscap is paying 9.0x the 2023e ROC vs. 12.0x on average for its peers’, EuroLand analysts pointed out yesterday.
‘Such a discount is not justified for this player which should combine sustained organic growth and high profitability’, estimates the stockbroker.
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