| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 18.56 | 1940 |
| Intrinsic value (DCF) | 0.59 | -35 |
| Graham-Dodd Method | 1.05 | 15 |
| Graham Formula | n/a |
Plásticos Compuestos, S.A. (ALKOM.PA) is a Spain-based specialty chemicals company specializing in the design, production, and marketing of mineral filler concentrates, color concentrates, and additives. The company serves diverse industries, including blown film, injection molding, thermoforming, pipes, and recycling, under brands like exfill, biokomp, Okean, and kroma. Operating in the Basic Materials sector, Plásticos Compuestos focuses on sustainable solutions, offering compostable resins (biokomp) and biodegradable products (Okean), aligning with global environmental trends. Headquartered in Barcelona, the company leverages innovation to cater to industrial applications while addressing the growing demand for eco-friendly materials. Despite its niche market positioning, Plásticos Compuestos faces challenges in profitability, as reflected in its recent financial performance. The company's presence on Euronext Paris provides European investors exposure to the specialty chemicals segment, particularly in sustainable polymer additives.
Plásticos Compuestos presents a mixed investment case. The company operates in a niche segment of the specialty chemicals industry, with a focus on sustainable solutions like biodegradable and compostable resins, which could benefit from increasing environmental regulations. However, its financials reveal challenges, including a net loss of €115,616 in FY 2023 and negative diluted EPS (-€0.0097). While operating cash flow remains positive (€1.69M), high total debt (€8.23M) and minimal cash reserves (€1.08M) raise liquidity concerns. The lack of dividends further limits income appeal. Investors may find speculative value in its sustainability-focused product lines, but profitability and debt management remain key risks. The low beta (0.257) suggests relative stability, but growth prospects depend on operational improvements and market demand for eco-friendly additives.
Plásticos Compuestos competes in the fragmented specialty chemicals market, where differentiation through sustainability and niche applications is critical. The company’s competitive advantage lies in its specialized product portfolio, including biodegradable (Okean) and compostable (biokomp) resins, which cater to increasing regulatory and consumer demand for eco-friendly materials. However, its small scale (€46.2M revenue) limits economies of scale compared to multinational peers. The company’s focus on mineral fillers and color concentrates provides some insulation from commoditized segments, but pricing pressure from larger competitors persists. Its presence in Europe offers regional supply chain benefits, but global players dominate R&D and distribution networks. Plásticos Compuestos’ financial constraints (negative net income) hinder aggressive expansion or innovation, making it vulnerable to larger firms with deeper pockets. Strategic partnerships or acquisitions could enhance its market position, but current leverage (debt-to-equity concerns) restricts flexibility. The company must balance sustainability-driven differentiation with cost efficiency to improve margins.