狠狠撸

狠狠撸Share a Scribd company logo
Corporate
Finance
Jaimin Shah
厂辞尘蹿测’蝉奥颁搁&补尘辫;翱颁搁
Sales/Equity
(2003/2010) year by
year, from 146.9%
to 106.2%
Somfy’sROCE&ROE
ROE
(2002/2010) year by
year, from 29.7% to
13.8%
Net margin
(2003/2016)
(2007/2010)
Somfy’sshare
value
P/E = 11.5 < 19 Industry Avg. Growing company is paying good dividend.
? Expected rate of return: 13%
? Beta = 1.1
? No asymmetric risk and growing capital
? Moderate volatility over a past decade
? In the future, share price will be overpriced
IMPROVINGTHEVALUEOFTHESHARE
M & A for higher
market share in
Europe
Development in
emerging markets
New range of
products
Focus on CSR
activity and
Green Channel
Focus on cost
optimization
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