New IPO at EUR 10 per share. Currently, 11,3m shares, share price EUR 12,25 per share. Market Cap: EUR 138m
The company is buying Finnish Elkamo for EUR 4,5m
Book value: Equity EUR 7,1m/11,3m shares = 0,6 EUR Book value per share
Adjusted Earnings Guess for 2018: 0,2 EUR per share. Graham Number (Geometric average of 15x Earnings and 1,5 x Book value = Graham Value EUR 1,68 per share.
The company is growing revenues quickly (plus 32% in the first half of 2018), but seems expensive at the current stock price. The company would have to keep growing at this pace for 3-4 years to justify the current share price. The EV market could grow that quickly, but I don't know how much competition there is.
Current ratio: 30,4m/24,8m = 1,2
Long term debt: 8,6m (including Elkamo?)
Conclusion: Not a stock for the Defensive investor.