Carbios: Transition Year And Strengthened Balance Sheet
Edison | Jul 09, 2018 06:42AM ET
Carbios' (PA:ALCRB) 2017 results were an important staging post on the journey from a pure research operation towards a market-ready business. The balance sheet has been strengthened and operations are fully funded into 2019. Announcements of partnership deals with other consumer brand owners, similar to that announced with L’Oréal, could act as a further share price catalyst. Our remodelled DCF provides an indicative valuation for Carbios of €15/share.
Final benefits of the Thanaplast programme
The Thanaplast programme that brought Carbios into existence concluded in 2017, having reached all the milestones set at its inception. Carbios received the final milestone payment of €1m under the Thanaplast programme in H217 (€0.47m in final subsidies and €0.57m in repayable advances).
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