Clariane up after H1 shows progress on asset sales, debt reduction

Clariane SE

06/08/2024 09:05

** Shares in Clariane  CLARI.PA  rise 5.5% after the care
homes company's H1 results showed progress on asset sales and
debt reduction 
    ** Net debt at end-June 2024 was 3.77 billion euros ($4.12
billion), down from 4.01 billion euros a year earlier 
    ** "We saw significant pressure on the stock for several
days and the trading update demonstrated effective asset
disposals and debt reductions, coupled with improved operational
leverage," says analyst Yi Zhong from AlphaValue
    ** Clariane says its asset disposals are "well underway" and
it has secured 40% of the 1 billion euros it wants to raise by
2025 
    ** Zhong also flags Clariane confirming FY guidance, but
says its loan-to-value ratio, which rose to 63% from 58% last
year, remains a concern
    ** "Also, part of the positives (in the share reaction) can
be explained by the wide market correction from the recent
global stock crash..," the analyst adds
    ** Shares are up 16% YTD

($1 = 0.9146 euros)


($1 = 0.9152 euros)

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