Financials Fleury Michon

Equities

ALFLE

FR0000074759

Food Processing

Market Closed - Euronext Paris Other stock markets 16:35:18 26/06/2024 BST			5-day change	1st Jan Change
20.7 ^EUR	-3.27%		-14.11%	+4.02%

05-27	Fleury Michon: in negotiations with Platos Tradicionales	CF
04-10	Fleury Michon SA Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	135.8	118.3	97.65	76.45	82.97	86.35	-
Enterprise Value (EV) ¹	259.3	118.3	170.8	180.6	157.9	164.1	86.35
P/E ratio	-4.8 x	-8.29 x	24.4 x	32.1 x	8.5 x	4.71 x	3.37 x
Yield	2.53%	-	5.13%	6.56%	6.53%	5.8%	5.8%
Capitalization / Revenue	0.18 x	0.16 x	0.14 x	0.1 x	0.1 x	0.1 x	0.1 x
EV / Revenue	0.35 x	0.16 x	0.24 x	0.23 x	0.19 x	0.2 x	0.1 x
EV / EBITDA	6.04 x	1.32 x	3.52 x	3.04 x	2.69 x	2.82 x	1.45 x
EV / FCF	-22.3 x	-	3.87 x	-	-	8.73 x	4 x
FCF Yield	-4.49%	-	25.8%	-	-	11.5%	25%
Price to Book	0.67 x	0.79 x	0.63 x	0.49 x	0.52 x	0.57 x	0.48 x
Nbr of stocks (in thousands)	4,297	4,287	4,173	4,178	4,169	4,172	-
Reference price ²	31.60	27.60	23.40	18.30	19.90	20.70	20.70
Announcement Date	07/04/20	28/04/21	06/04/22	13/04/23	10/04/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	747.6	735.4	705.6	794.8	836.2	837.9	850.6
EBITDA ¹	42.9	89.42	48.5	59.31	58.77	58.26	59.5
EBIT ¹	-5.7	19.4	14.4	15	23	20.8	24.5
Operating Margin	-0.76%	2.64%	2.04%	1.89%	2.75%	2.48%	2.88%
Earnings before Tax (EBT) ¹	-20.4	-20.21	10.9	5.433	9.996	20.4	24.5
Net income ¹	-28	-14.62	4	2.4	10.3	18.32	25.6
Net margin	-3.75%	-1.99%	0.57%	0.3%	1.23%	2.19%	3.01%
EPS ²	-6.580	-3.331	0.9600	0.5700	2.340	4.394	6.140
Free Cash Flow ¹	-11.65	-	44.09	-	-	18.8	21.6
FCF margin	-1.56%	-	6.25%	-	-	2.24%	2.54%
FCF Conversion (EBITDA)	-	-	90.91%	-	-	32.27%	36.3%
FCF Conversion (Net income)	-	-	1,102.3%	-	-	102.63%	84.38%
Dividend per Share ²	0.8000	-	1.200	1.200	1.300	1.200	1.200
Announcement Date	07/04/20	28/04/21	06/04/22	13/04/23	10/04/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 S1	2023 S1
Net sales ¹	341.7	422.3
EBITDA	-	-
EBIT ¹	6.7	6.1
Operating Margin	1.96%	1.44%
Earnings before Tax (EBT)	-	-
Net income	-	-
Net margin	-	-
EPS	-	-
Dividend per Share	-	-
Announcement Date	09/09/21	12/09/23

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	124	-	73.1	104	74.9	77.8	-
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.878 x	-	1.508 x	1.755 x	1.274 x	1.335 x	-
Free Cash Flow ¹	-11.7	-	44.1	-	-	18.8	21.6
ROE (net income / shareholders' equity)	-12.6%	-18.1%	4.85%	3.56%	6.54%	11.7%	14.2%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	47.50	34.90	36.90	37.20	38.20	36.10	43.30
Cash Flow per Share ²	7.660	11.70	10.60	9.840	11.40	12.30	12.10
Capex ¹	38.5	-	20.6	-	-	30	30
Capex / Sales	5.15%	-	2.91%	-	-	3.58%	3.53%
Announcement Date	07/04/20	28/04/21	06/04/22	13/04/23	10/04/24	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Fleury Michon

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

20.7 EUR

Average target price

21.75 EUR

Spread / Average Target

+5.07%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Food Processing

	1st Jan change	Capi.
FLEURY MICHON	+4.02%	95.55M
NESTLÉ S.A.	-4.73%	275B
MONDELEZ INTERNATIONAL, INC.	-7.99%	91.01B
KRAFT HEINZ	-12.66%	39.83B
GENERAL MILLS, INC.	-1.49%	37.97B
THE HERSHEY COMPANY	-1.82%	37.6B
ARCHER-DANIELS-MIDLAND COMPANY	-15.99%	29.99B
NESTLÉ INDIA LIMITED	-4.72%	29.05B
ASSOCIATED BRITISH FOODS PLC	+6.63%	23.53B
YIHAI KERRY ARAWANA HOLDINGS CO., LTD	-15.73%	20.66B

Other Food Processing