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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)
2016A 8.9 3.3 3.6 128.00 4.8 N/A
2017A 1.0 (4.9) (4.6) (86.07) N/A 0.0
2018E 1.1 (4.8) (4.6) (85.58) N/A N/A
2019E 1.2 (5.0) (4.9) (90.12) N/A N/A

Last updated on 09/07/2018

Investment summary

Carbios’s 2017 results were an important staging post on the journey from a pure research operation towards a market-ready business. The balance sheet has been strengthened and operations are fully funded into 2019. Announcements of partnership deals with other consumer brand owners, similar to that announced with L’Oréal, could act as a further share price catalyst. Our remodelled DCF provides an indicative valuation for Carbios of €15/share.

Last updated on 09/07/2018

Industry outlook

Growing focus on sustainability provides an attractive market opportunity for Carbios's technology.

Last updated on 29/06/2018

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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