Orege SA

Orege SA has a negative equity position of EUR -49.75 million and a total liabilities of EUR 60.58 million, indicating a significant debt burden. The company's liquidity is constrained, with only EUR 449,000 in cash and equivalents, and a current ratio of 1.39, which is below the typical threshold for financial stability. The company's profitability is weak, with an operating loss of EUR 7.19 million and a net loss of EUR 8.52 million. Its return on equity is 17.12%, but this is misleading due to the negative equity position. The return on assets is -7.86%, indicating poor asset utilization and performance relative to industry standards. Orege SA's revenue is concentrated in the environmental services sector, with no disclosed geographic diversification. The company serves multiple industries, including oil and gas, petrochemical, chemical, and food and beverage, but there is no information on the geographic distribution of its revenue. The company's growth trajectory is uncertain, with no specific revenue growth projections provided. The financial snapshot indicates a challenging operating environment, with negative operating and free cash flows, and a high debt-to-equity ratio of -1.15, which suggests a high financial risk. The risk assessment highlights medium liquidity risk and low dilution risk. The company's negative net cash position after subtracting total debt is a key flag. The valuation adjustments and risk factors suggest that the company is operating under significant financial stress, with a high probability of needing to secure additional financing. Recent events include the acquisition of a 48.9% stake by Eren SA in March 2014, which increased Eren's ownership to 69.22% of the capital and 60.52% of voting rights. This takeover bid was launched together with certain shareholders, indicating a strategic move to consolidate control.