When the “little ones” have their grace

By | May 8, 2023

By Apostolos Manthos

In an environment of unrelenting energy and inflationary pressures, the group unibios (BIOSK) managed to increase its net profitability by almost 100% compared to 2021, reaching 651,000 euros, from 334,000 euros, with consolidated sales that increased to 11,244 million euros, from 8,478 million euros. Likewise, the result before taxes, financing, investment results and amortizations (EBITDA) was 1,811 million euros, compared to 1,287 million euros in 2021, which represents a significant increase of 40%. At the same time, net worth increased to 13,593 million euros, compared to 12,833 million euros in 2021. The group, which has begun to increasingly expand its network in the sustainable development sector through water treatment , seems to be doing what the management had promised to its shareholders, completely turning the page towards the healthy growth of their sizes. Let us remember that Unibios has, having entered in 2023, a portfolio of projects of the order of 7.6 million euros, not counting the new ones, at the same time that it has begun the process of selling half of the property it owns in Volos with a price that can exceed 3.4 million euros. An element, of course, that changes the whole panorama of the sizes of Unibios, since it gives it the opportunity to proceed with the acquisition of a similar company, significantly increasing its income. The €10m market capitalization does it a disservice as, according to its European peer in the water treatment industry, it should have had an EV/EBITDA ratio of 12, giving it a share price of … 1.10 euro. It is an element that we will analyze shortly. Schematically, the bag is not there to get more than 0.74 euros. Above that, the path will be free for the 1.07 euros that was signed in 2014.

performance of their sizes. elton group (ELTON) is more than satisfactory, with consolidated turnover showing an increase of 28.4% for 2022 compared to 2021, closing at 194.6 million euros, from 151.5 million euros. Profit before taxes, financial and investment results and amortizations (EBITDA) amounted to 19.17 million euros, from 12.68 million euros the previous year, marking a strong increase of 51.22%, with a profit net after taxes that ends with an increase of 30%, to 10.94 million euros, from 8.41 million euros. The increase in the group’s own funds is also significant, which now stands at 67.84 million euros, with available cash at the end of the year of 4,027 million euros. The group seems to be doing so well that a few days ago it went out to buy a series of 131.29-hectare farms in Oinophyta for a total price of 5.35 million euros. With the new ownership, the company’s storage capacity will triple, significantly opening up the scope to increase production volume. Chartically, now, the stock appears to be forming higher trading bands under pressure from the bullish “S” pivot. Thus, after the bullish flight above 1.97 to 2 euros, the action broke free from the bonds of the lower zone, opening the chart field at 2.65 euros. Along the way, the upside break of €2.65 will give buyers room to gradually extend their strength to the upper limit of €3.30, or +38% of current trading prices.

metal construction company mevaco (MEBA) only has good news to tell us. First of all, the company’s turnover for 2022 amounted to 40,952 million euros, showing an impressive increase of 59.99% compared to the previous year, which was 25,597 million euros. EBITDA stood at 4,982 million euros, compared to 3,423 million euros in 2021, which represents a significant increase of 45.54%, mainly due to the increase in turnover and the more rational management of production costs . And the net profit after taxes shoots up 63.47%, up to 3,167 million euros, increasing the company’s own funds by 18%, up to 28.75 million euros. The most admirable thing is that the company has a positive net cash of 1,884 million euros. Mevaco’s great asset is the production and construction of metal bases for photovoltaic parks. It is precisely there where it will put a lot of weight in the coming years through the investment program that it has started to increase its productive capacity, while also preparing the attack on electrification. The stock’s two-month price chart is surprising with its long-term bullish momentum under the guidance of the ‘W’ pattern pivot. Here, therefore, the stock market has set as its medium-term objective the approximation of the area of ​​4 to 4.20 euros, which were formed in July 2003 and July 2007, the two all-time highs. Statistically, will we see something similar this July as well?

Finally, it is necessary to highlight the admirable performance of the stock values ​​of the listed companies in relation to the market and the General Index, without forgetting the small and medium-sized companies, and we constantly look at 10 to 15 companies of heavy papers and light. After all, small businesses have another grace. Thus, while the General Index in the last almost four years has risen 74%, Elton has grabbed more with 97.5%, Unibios has offered +125%, while Mevaco has “escaped” with + 266%

* Apostolos Manthos is responsible for technical analysis and investment strategy

**Republished from the Kefalio newspaper

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