Betolar: Enabling a greener concrete industry
We initiate coverage of the materials technology company Betolar with a Reduce recommendation and a EUR 3.00 target price. Betolar has since 2016 developed the Geoprime concept that allows cement to be replaced in concrete production. Its biggest benefit is a clear reduction in CO2 emissions from concrete production. As a whole, we see the valuation of Betolar’s share as too high relative to the risks in the short term, and therefore wait for the risk/return-ratio of the share to improve.
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Betolar is a pioneering materials technology company focusing on turning industrial side streams into value. Betolar offers continuous competitive edge to the construction industry and enable the transition towards a sustainable built environment - socially, environmentally and economically.
Read more on company pageKey Estimate Figures02.11.2022
| 2021 | 22e | 23e | |
|---|---|---|---|
| Revenue | 0.0 | 0.3 | 5.3 |
| growth-% | 66.7 % | 2,900.0 % | 1,650.0 % |
| EBIT (adj.) | -3.9 | -11.4 | -13.9 |
| EBIT-% (adj.) | -38,590.0 % | -3,808.0 % | -265.0 % |
| EPS (adj.) | -0.38 | -0.62 | -0.72 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | neg. | neg. | neg. |
| EV/EBITDA | neg. | 0.0 | neg. |
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