Carbios (ALCRB)

Business description

Carbios develops enzyme-based processes for biodegradation and bioproduction of plastics, with a long-term aim of displacing current recycling and production practices.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 0.8 (3.9) (4.0) (81.3) N/A N/A
2016A 8.9 3.8 3.6 131.9 6.9 7.6
2017E 1.2 (3.8) (4.0) (64.9) N/A N/A
2018E 1.5 (3.0) (3.2) (53.5) N/A N/A

Last updated on 08/12/2017

Investment summary

Carbios addresses the issue of plastics disposal, as well as environmental and sustainable solutions via breakthrough technologies for a circular plastics economy. Carbios’s goal is to industrialise its biodegradation process and set up new PET recycling partnerships to follow on from its recent breakthrough agreement with L’Oréal, which marks a key validation of the technology. Earlier this year, Carbios completed the fifth key stage of its research project and expects a milestone payment in 2017 for this final stage. In July, an equity issue raised €4.2m in new equity, increasing the equity base by over 10%; the funds will be used in the pilot of its enzymatic biorecycling process for PET plastics. The current free issue of equity warrants may bring in further equity. The results for H117 saw the first income from the Carbiolice JV and operating losses were 28% lower at €1.75m.

Last updated on 13/12/2017

Industry outlook

Growing volumes, environmental concerns and an increasing focus on sustainability are becoming ever more important challenges to conventional plastic market participants. Biological plastic production and recycling is the single most important aim of the industry as a response. The target is a circular economy where plastic is constantly reused and recycled.

Last updated on 13/12/2017

Key management

Jean-Claude Lumaret, CEO

Company address

rue Emile Duclaux
Parc d'activts du Biopole
Clermont-Limgn
SAINT-BEAUZIRE
63360
France
+33473865176
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