Derichebourg, the biggest drop in the SBF 120 mid-session on Thursday, May 19, 2022 – – 05/19/2022 at 12:16 pm.

(AOF) – Derichebourg (-12.90% for 7,665 euros)

Derichebourg has dropped to last place in the SBF 120 after announcing an increase in its stake in Elior’s capital. Getting up at dawn, however, the title of specialist in collective restoration has returned. Derichebourg, which currently owns 4.9% of Elior, thus signed a memorandum of understanding with BIM, controlled by Sofibim, the holding company of Elior founder Robert Zolade, and with Gilles Cojan to increase its stake to 19.6%. .

AOF – LEARN MORE

key points

– Global operator of environmental services, created in 1956 under the name of Cie Française des Ferrailles;

– Turnover of 4.6 billion euros divided into 2 businesses: environmental services for 61% (collection and treatment of metals, aluminum and toxic waste) and multi-services (cleaning, industrial cleaning, public lighting, temporary solutions and human relations);

– Great weight of France (72% of revenues), followed by Europe (22%) and America (6%);

– Business model based on a dense network, vertical integration for the environment and, for multi-services, a digitalized offer and integrated services;

– Capital blocked by the Derichebourg family (41.5% of the capital and 57.8% of the voting rights), Daniel Derichebourg, CEO, chairing the 9-member Board of Directors;

– Financial strength with a net debt of 196 million euros against 703 million euros of equity.

Challenges

– Growth strategy: environmental services: consolidate the leadership position in metals and increase the share of non-ferrous metals to 20-25%, implementation of the collection offer to municipalities, expected synergies of 21 M€ with the integration of Ecore -€ 1.3 billion in sales, 78 sites in Europe with an 80% recovery rate, of which 98% for battery components;

– Innovation strategy not detailed by the company and integrated with environmental issues;

– Environmental strategy 2018/22 “concretely responsible”: reduction of emissions in 2 levers: recycling of metallic waste and energy through the recovery of shredding waste and agreement to deliver 19 MW of load shedding capacity with Total Flex, carbon offset , renewal of the transport fleet, use of StartMC&Alert Gasoil technologies and use of river transport (23.6% for raw materials) and rail transport (8%), implementation of recycling centers for cars and large appliances, launch of a “green loan”;

– Benefits of partnering with Saur on water-related services for local authorities;

– Balance between the 2 activities: short cycles in the environment, with strong price variations, and long cycles guaranteed by multi-year multi-service contracts;

– Continuation of establishments, reinforced in France and abroad – Germany, ie 11 million euros of additional revenue.

Challenges

– Market driven by interest in raw materials from recycling and outsourcing to Multiservice customers;

– Double impact of higher raw material prices: favorable on scrap prices, negative on volume collection due to the drop in automobile production;

– After strong growth in operating profitability, confidence for the year 2021/2022 ended on September 30;

– Resumption of the dividend service, of €0.32, ie a distribution fee of 30%.

Business services: road transport with labor shortages

A report published by Dares (Direction de l’Animation de la recherche, des Etudes et des Statistiques) in October 2020 pointed out that truck drivers were among the thirty most stressed professions in France in 2019. This tension is not a consequence and can even increase in the coming years. According to the OTRE (Organization of European Road Carriers), the needs could reach 100,000 jobs in the next five years. The phenomenon, which was mitigated during successive confinements, reappeared with the resumption of activity. It is partly linked to a lack of image and unattractive remuneration. Unfortunately, recent negotiations between the social partners to revalue the branch minima have not been successful.

Leave a Comment