Derichebourg's Stock Falls Below €10 After a High Since 2022
Mid-session, the metal recycler's stock is losing ground. The shares are down 2.4% at €9.955, in a Parisian market where the SBF 120 is down by 0.84%. However, the stock maintains a strong annual momentum with a 58% gain over twelve months.
The Stock Digests the Rally Following the Acquisition of Scholz Recycling
Derichebourg's stock is retracing its steps after reaching €10.69 last week, a high since early 2022. This consolidation follows the acquisition of Scholz Recycling, a deal announced in early May concerning a German company with a turnover of €1.6 billion. The current session's context does not help. The SBF 120 is down 0.84%, the CAC 40 is down 0.81%, while US and Japanese bond yields are rising against a backdrop of Brent crude above $110. Cyclical stocks exposed to the industry are feeling the pressure from these long-term rate increases. Based on the expected earnings per share, the stock is trading at about 11.1 times the earnings for the current fiscal year, compared to 17.2 times for the Utilities sector average. A consensus of five analysts anticipates an EPS growth of 17.6% year-over-year.
The Decline Brings the Price Back to Its 20-Day Moving Average Before the Half-Year Results
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Today's decline comes after an RSI that was at 67, close to the overbought zone. The price is at the upper end of the Bollinger Bands (83% of the range), near the upper limit at €10.22. The 20-day moving average, at €9.42, becomes the next downward reference point, with a current gap of 5.68%. Over longer horizons, the stock maintains a substantial lead over its averages: 12.87% above the MM50 (€8.82) and 39.43% above the MM200 (€7.14). Today's 2.4% loss moderates the weekly gain, reduced to 4.24%, without questioning the quarterly trend (+17.88%).
SectorEnvironnement / recyclage · Services aux entreprises · Services aux collectivités›Gestion des déchets
Context
Period
Period: 2024-2025
Guidance from the release
C’est finalement un bel exercice, avec toutes les activités qui contribuent positivement au résultat. L’amélioration du résultat net est spectaculaire, grâce à l’ampleur du retournement réussi chez Elior Group.
Bonne résistance de l'activité malgré des prix bas des ferrailles et une baisse des volumes; amélioration des marges unitaires et forte contribution d'Elior; perspectives soutenues par mesures réglementaires européennes et nouveaux investissements.
Risks mentioned
Baisse des prix moyens des ferrailles et pression sur les volumes
Faible demande dans les secteurs automobile et construction en Europe
Visibilité réduite en contexte de bas de cycle
Opportunities identified
Amélioration de la contribution d'Elior Group
Entrée en vigueur du mécanisme d’ajustement carbone aux frontières et réforme des quotas/droits de douane favorisant la production locale
Mise en production de la nouvelle ligne de grenaillage de câbles en Espagne
Décarbonation des sites sidérurgiques en Europe susceptible d'augmenter la demande de ferrailles
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