Broadpeak: a dollar value?

(Boursier.com) — Broadpeak camped on 1 euro this Thursday, while as of September 30, the group’s turnover stood at 25.8 ME, almost stable (-0.4%) over one year. Broadpeak’s activity at constant exchange rate was down 0.7%. After a first half-year decline of -5%, linked in particular to a strong base effect, turnover showed a strong rebound in the 3rd quarter at +10%, in accordance with the indications provided by management…

In this context, the group confirmed that it expects for the entire 2024 financial year a return to growth in its turnover, as well as positive free cash flow… The group also renewed its medium-term financial objectives, aiming for a turnover of more than €50 million by 2027, including 50% recurring revenue, with an EBITDA margin of around 15%. Portzamparc estimates that the group will benefit from the rise in the dollar (55% of turnover). “This good Q3 helps to reinforce the scenario of a return to growth in 2024 and profits in 2025” estimates the analyst. Enough to aim for a price of 3.50 euros while remaining on purchase. “At 0.5X the turnover, the file remains undervalued” concludes the analyst.