ADL Bionatur Solutions

  • Land: Spanien

Nachricht vom 12.02.2019 | 13:45

Analyst coverage of ADL Bionatur Solutions initiated by Checkpoint with a target price of EUR 3.20 per share

DGAP-News: ADL Bionatur Solutions / Key word(s): Research Update

12.02.2019 / 13:45
The issuer is solely responsible for the content of this announcement.


ANALYST COVERAGE OF ADL BIONATUR SOLUTIONS INITIATED BY CHECKPOINT WITH A TARGET PRICE OF EUR 3.20 PER SHARE

- Potential 12-month upside of 51% relative to current share price of EUR 2.12

- Estimated enterprise value of EUR 160 million compared to current EV of EUR 121 million

León, Spain, 12 February 2019 - ADL Bionatur Solutions (MAB: ADL), a company specialized in research and development of health products, services and industrial fermentation production, today announced that Checkpoint, a Madrid-based specialist in corporate finance for emerging technology companies, has initiated coverage of ADL.

Checkpoint estimates ADL's enterprise value (EV) at EUR 160 million on the back of a sum of the parts valuation, relative to the current EV of EUR 121 million. This represents a target price of EUR 3.20 per share (using a 13% equity discount rate), providing an upside of 51% relative to the closing price of EUR 2.12 on the Spanish Alternative Market (MAB) on 11 February 2019.

Checkpoint notes that ADL combines an accredited expertise in development and scale-up processes, with probably the lowest fermentation costs in Europe. Therefore, Checkpoint expects ADLs continued growth following the 65 % sales increase in 2018. ADL's long-term contracts with quality clients and stable cost base, provide good visibility for future earnings and led to Checkpoint's forecast of 37 % sales CAGR over the next 5 years.

The CMO division is, according to Checkpoint, the main driver for revenue growth due to its newly built capacity and strong competitive advantages in terms of costs and its qualified scientific team. Additional capacity extension is expected and the growing scale will enhance its relative competitive advantages. Furthermore, ADL continues to develop its proprietary products and technology platforms within the animal health division and the antibiotics division, which includes APIs, animal vaccines and probiotics.

Not included in the evaluation are ADL's proprietary products for human microbiota and the potential increase in revenues derived from the fermenters' capacity optimization.

The complete Checkpoint report is available at https://adlbionatur.com/wp-content/uploads/2019/02/ADLBionatur-Initiation-of-Coverage-11-Feb-2019-_-CheckPoint-1.pdf

About ADL Bionatur Solutions
ADL Bionatur Solutions (MAB: ADL) is a company specialized in biopharma manufacturing plus research and development targeting the human microbiome and the animal health sector. The Company, that owns the largest fermentation production plant in Southern Europe, carries out high value-added product development, scale-up and production for third parties. International healthcare companies as well as first-in-class academic and industrial laboratories mainly from Europe and the US are part of ADL's customer base. The biopharma manufacturing business is complemented by a research and development division, which creates a proprietary product pipeline in animal and human health. ADL is listed on the MAB, Spain's Alternative Stock Market (ISIN ES0184980003) and its major shareholder is the investment fund Black Toro Capital holding 73%. More information is available at www.adlbionatur.com

For more Information please contact:
ADL Bionatur Solutions

Blanca San Román
IRO and Communications
Email: ir@adlbionatur.com

International Media & Investor Relations
MC Services
Raimund Gabriel
Tel.: +49 89 21022880
Email: ADLbionatursolutions@mc-services.eu



12.02.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


show this

GBC-Fokusbox

Fonds Research 2019: S.E.A. Asian High Yield Bond bietet attraktive Investitionschance

Auch 2019 hat die GBC AG unter der Vielzahl an Publikumsfonds neun „Fonds Champions“ herausgefiltert. Darunter auch den S.E.A. Asian High Yield Bond (ISIN: LU1138637738), der eine gute Anlagechance anbietet mit einer Strategie, die kaum reproduzierbar ist. Insbesondere vor dem Hintergrund des anhaltenden Niedrigzinsniveaus sehen wir den Anleihefonds als äußerst attraktive Investitionschance, um nachhaltige und volatilitätsarme Renditen zu erzielen. Wir haben den S.E.A. Asian High Yield Bond mit 4 von 5 Falken eingestuft.

Aktueller Webcast

EQS Group AG

Conference Call zu den Halbjahreszahlen 2019

16. August 2019

Aktuelle Research-Studie

Baumot Group AG

Original-Research: Baumot Group AG (von Montega AG): -

16. August 2019