Clariane up after core profit beat, asset disposals on track

Clariane SE

29/02/2024 09:54

** Shares of Clariane  CLARI.PA  rise as much as 19% after
the French care homes operator's FY results beat expectations
while it progresses with its asset disposal program 
        ** It reports a post-IFRS 16 EBITDA of 1.02 billion
euros  ($1.11 billion) in 2023, which analyst Yi Zhong at
Alphavalue says is 2.5% ahead of consensus 
    ** FY organic revenue grew 8.4% to 5.05 billion euros was in
line with consensus but above company's guidance, Zhong adds 
        ** "The group's debt profile appears manageable, aided
by ongoing asset disposals that considerably secure debt
repayments," says analyst Yi Zhong at Alphavalue
  
    ** For 2024, Clariane forecasts organic revenue growth at a
level above +5%, helped by volumes and pricing, it said 
    ** "The company's 2024 organic growth target aligns with
consensus, although profitability rebuild may need more time
than we expected," Zhong adds 
    ** The shares were down about 70% in the last 12 months 
 
 


($1 = 0.9219 euros)

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))