Edison Issues Report on Accsys Technologies (AXS)

Core Insights - Accsys Technologies has set ambitious financial targets for FY25-30, aiming for a combined volume and revenue CAGR of 14% driven by its Netherlands and USA plants [2] - The company expects adjusted group EBITDA to rise significantly from €10.5 million in FY25e to €54 million by FY30, surpassing previous estimates [2] - Accsys plans to reduce net debt to zero by FY30, supported by increasing free cash flows, and has a revised value per share estimate of 83p or €1.00 [2] Financial Targets - The financial targets include a combined volume and revenue CAGR of 14% for FY25-30e for the Netherlands and Accoya USA plants [2] - Adjusted group EBITDA is projected to improve from €10.5 million in FY25e to €54 million by FY30, including the company's 60% share in the joint venture [2] - The company aims to achieve net debt reduction to zero by FY30, which is considered achievable due to increasing free cash flows [2] Valuation - The discounted cash flow analysis indicates a revised value per share of 83p or €1.00, an increase from the previous estimate of €0.95 [2]