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Currency in EUR
Last close As at 09/06/2023
EUR0.59
— 0.00 (0.17%)
Market capitalisation
EUR29m
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.
As noted in the March press release, the company is not yet revenue generating. Grant income was €0.1m lower year-on-year in FY22, while total operating costs were €0.2m higher year-on-year, 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. The primary reason for this was the €10.6m cash inflow generated from the issue of several tranches of convertible bonds associated with a finance programme with Nice & Green. This programme also resulted in a jump in net assets from €0.2m at end FY21 to €8.2m at end FY22.
Industrials
Industrials
Industrials
Industrials
Associate Analyst
Fabrice Plasson
Chairman & CEO
Jean-Francois Doucet
Deputy general manager
Forecast net debt (€m)
9.7
Forecast gearing ratio (%)
746
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | 0.5 | (17.9) | 3.3 |
| Relative | 3.3 | (16.4) | (6.2) |
| 52 week high/low | €1.2/€0.5 |
Following on from the press release in March, which provided preliminary data on the FY22 results, Amoéba has published its FY22 universal registration document, which contains detailed financial information for the year. We leave our FY23 estimates unchanged.
| 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 |
