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Diapositiva 1 - Solventis...2019/11/29 · Italy Spain France Alemania States Japan China 58 ' 555 "1.0 52' sss 606 52B 552 584 59.6 552 586 515 56.9 sss 528 52' 569 539 523 50 a

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Page 1: Diapositiva 1 - Solventis...2019/11/29 · Italy Spain France Alemania States Japan China 58 ' 555 "1.0 52' sss 606 52B 552 584 59.6 552 586 515 56.9 sss 528 52' 569 539 523 50 a

Page 2: Diapositiva 1 - Solventis...2019/11/29 · Italy Spain France Alemania States Japan China 58 ' 555 "1.0 52' sss 606 52B 552 584 59.6 552 586 515 56.9 sss 528 52' 569 539 523 50 a

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Page 4: Diapositiva 1 - Solventis...2019/11/29 · Italy Spain France Alemania States Japan China 58 ' 555 "1.0 52' sss 606 52B 552 584 59.6 552 586 515 56.9 sss 528 52' 569 539 523 50 a

Page 5: Diapositiva 1 - Solventis...2019/11/29 · Italy Spain France Alemania States Japan China 58 ' 555 "1.0 52' sss 606 52B 552 584 59.6 552 586 515 56.9 sss 528 52' 569 539 523 50 a

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“O” ??

…

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Invirtiendo en Renta Fija en euros no recuperaré mi inversión…

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…

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“O” ??

…

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EJEMPLO: Laboratorios Farmacéuticos ROVI

Precio: 24,6€ (Nov. 08, 2019) Precio promedio adq. = 16,6€

Cap. Burs. = 1.379 Mill. € // Caja neta aj. = 61 mill.€

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Una historia de transformación

Internacionalización

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•

•

•

•

•

•

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Por acción

Capitalización ROVI (MM€) 1.211 21,6 €

ValorBeneficio

normalizado Probabilidad PE

Negocio actual (Bemiparina…) 35,25 13 458

Becat (Enoxaparina) 54,5 13 709

Valor del equity ex Pipeline 1.167

Doria 70 100% 13 910

Valor del equity incl. Doria 2.077 37,1 €

Margen de seguridad 71,5%

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→

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