Malin Corporation

FY results preview – now trading at 80% discount to book

  • Sectors : Pharma and healthcare
  • Companies : Malin Corporation

Ratings and price correct at time of issue.

  • Malin Corporation

    Closing Price: 162c

  • RATING 29/09/15



Malin will report its FY19 results on February 25th. Excluding the sale of 3D4Medical for €17m (H1 €15.5m) in November 2019, we don’t expect material changes to Malin’s portfolio value (H1 €384.8m). The effect of COVID-19 is uncertain, but we don’t see any obvious pressure points for Malin’s key assets. We also know that Malin’s balance sheet has ample reserves to finance the business over the next two+ years. Given last week’s market sell- off, where Malin’s share price declined 50%, it is now trading at a very material c.80% discount to its fair value per share (FVPS) of €7.80, a compelling value/price disconnect worth consideration by investors.

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Mar 23 2020, 07:45 GMT