RE: SharesMagazine: "Novacyt still looks really cheap"12 Oct 2020 13:38
H1 sales E72.4m ebitda E49.4m
Outlook at H1 was full year sales >E150m and ebitda >E100m
At AGM on 29th Sept this was reiterated but did not include new DHS contract announced that day
H1 had only 3 months of trading so pre the contract a conservative forecast would be an additional E150m sales and E100m ebitda - giving full year sales cE225m and ebitda cE150m
There will be the first £150m of DHS contract this year which should add E165m and ebitda of cE130m.
Overall, a conservative for 2020 on basis of current contracts is sales of E390m and ebitda of cE280m.
I would thus be more conservative than you on the forecasts. On the valuation, with testing to be required for the foreseeable future, I would be higher. A multiple of 5x ebitda would give a share price of cEuro 20 per share, which is my target for this year.