Amoeba (PAR: ALMIB)

Currency in EUR

Last close As at 22/09/2023


−0.06 (−11.13%)

Market capitalisation


Amoéba is developing biological fungicides for treating diseases such as mildews and rusts, which have a major economic impact on the production globally of a wide range of crops. These novel fungicides are based on the characteristics of the Willaertia magna C2c Maky amoeba.

According to a report from Grand View Research, the global crop protection chemicals market was valued at $43.2bn in 2022 and is expected to expand at a CAGR of 5.6% from 2023 to 2030. Within this market, the biological segment is growing rapidly. A report published by P&S Intelligence noted that the global biocontrol agents market was worth c $4.9bn in 2021, and predicted that it would increase to $13.6bn by 2030 (CAGR of 12.2% from 2021 to 2030). Management estimates that Amoéba’s addressable market size within the biological agents market is €1.6bn, expanding to €8bn if conventional fungicides are replaced by biological ones.

Latest Insights

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Amoeba — Scaling up for commercialisation

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Amoeba — Fighting pathogens, respecting nature



Equity Analyst

Natalya Davies

Natalya Davies

Associate Analyst

Key Management

  • Fabrice Plasson

    Chairman & CEO

  • Jean-Francois Doucet

    Deputy general manager

Balance Sheet

Forecast net debt (€m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual (20.0) (21.0) (53.6)
Relative (20.2) (20.4) (60.7)
52 week high/low €1.2/€0.5


As noted in the March press release, the company is not yet revenue-generating. Grant income was €0.1m lower y-o-y in FY22, while total operating costs were €0.2m higher, resulting in a widening of EBIT losses by €0.3m to €5.8m. The company moved from €5.2m net debt at the end of FY21 to €3.2m net cash at the end of FY22, primarily due to a €10.6m cash inflow generated from the issue of several tranches of convertible bonds associated with a finance programme with Nice & Green. Amoéba has recently confirmed that the regulatory timetable for its biocontrol active substance application remains on track.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 0.0 (4.0) (7.4) (41.62) N/A N/A
2022A 0.0 (4.7) (7.7) (22.99) N/A N/A
2023E 0.0 (7.7) (9.1) (18.43) N/A N/A
2024E N/A N/A N/A N/A N/A N/A




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