Clariane tumbles as FY deleveraging roadmap slows down

Clariane SE

25/10/2023 10:50

** Shares in Clariane  CLARI.PA  plummet around 12% to an
all-time low after the French care homes operator announced a
slowdown in deleveraging pathway
    ** The company confirmed its FY revenue and earnings
guidance but hiked the financial leverage to around 3.8X from
3.5x it had seen earlier
    ** Clariane said the leverage target depended "on the
completion schedule of current real-estate partnerships"
    ** Yi Zhong at AlphaValue believes the downgrade of
financial leverage "seems to be the most important factor in
pulling down today's share price"
    ** Zhong says it is explained by a "marginally larger net
growth capex due to lower asset disposals in H2, which reflect
unfavourable market conditions", adding there is "impact of real
estate due to increased cap rates" 
    ** Shares hit their lowest on record at 4.59 euros by 0946
GMT, having lost 57% in value this year alone



    
    

 (Reporting by Pierre John Felcenloben)
 ((pierrejohn.felcenloben@thomsonreuters.com))