olivLaw · European equity research
Adalan Ventures PLC ZAIM.L
United Kingdom · London Stock Exchange · ISIN GB00BMXTZ463 · Vertical: Listed companies from United Kingdom
Adalan Ventures PLC, formerly Zaim Credit Systems PLC, is a UK company listed on the LSE with activity linked to credit systems. Its annual report for the year ended 31 December 2022 shows a small board and governance adapted to the company's size.
At the close of 04 Nov 2026, Adalan Ventures PLC (ZAIM.L) stock was 0.00 GBP (+0.00% on the day), with market capitalisation 208.3 k GBP, beta -1.88, 52-week range 0.00–0.05 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 45.9
- neutral
- Bollinger (20, 2)
- -0.02 – 0.03
- in the lower half of the band · %B 0.42 · band width 1,081.3%
- SMA 50 / 200
- 0.00 / 0.00
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | unavailable | −0.6% | unavailable | — |
| 3 months | unavailable | −4.2% | unavailable | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | unavailable | +7.5% | unavailable | — |
| 1 year | unavailable | +9.9% | unavailable | +6.7% |
| 3 years | unavailable | +49.8% | unavailable | +24.8% |
| 5 years | −89.3% | +42.8% | −132.1 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2021 | 2022 |
|---|---|---|
| Revenue | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable |
| Net income | -571.3 k | -10.9 m |
| Net income YoY | unavailable | unavailable |
| Diluted EPS | -0.00 | -0.02 |
| Diluted EPS YoY | unavailable | unavailable |
| net % | unavailable | unavailable |
| Free cash flow | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2022 · 31 Dec 2022
- Cash
- 35.5 k GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- -338.5 k GBP
- Total assets
- 35.5 k GBP
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- unavailable
- ROA
- -202.0%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Income statement · GBP
Balance sheet · GBP
Cash flow · GBP
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 0 of at least 6
- score weight coverage: 0.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 208.3 k GBP
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
0% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 0 of at least 6; score weight coverage: 0.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ADALAN VENTURES PLC (ZAIM.L). Latest full fiscal year: 2022; data up to 2022-12-31.
Figures computed from the financial statements: ROE -213.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 0 of at least 6; score weight coverage: 0.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 40 companies
Multiples and returns vs the median
Companies in the vertical
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|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| BMS.LBraemar PLC | 78.3 m | 39.2 | 2.7% | 1.7% | −4.4% | +13% / −11% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for ZAIM.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Adalan Ventures PLC, formerly Zaim Credit Systems PLC, is a UK company listed on the LSE with activity linked to credit systems. Its annual report for the year ended 31 December 2022 shows a small board and governance adapted to the company's size 1.
SWOT
Strengths
- Formalised governance with an audit committee and written compliance policies for the capital market.
- A relationship agreement with the founder shareholder aimed at operational independence.
- An appointed external auditor that, according to the report, provides no material non-audit services.
Weaknesses
- The board is small and a nomination committee has not been established.
- Dependence on the controlling shareholder and its decision structure could limit the company's autonomy.
- The report mentions potential issues related to the remittance of dividends and management fees.
Opportunities
- Business growth could bring EBITDA thresholds that trigger higher pay, alongside performance incentives.
- Strengthening governance as the company grows could reduce operational risk.
- Clarifying the dividend structure and shareholder relationships could improve investor confidence.
Threats
- Compliance risks around LSE rules and market abuse could increase costs.
- Problems remitting funds to shareholders could affect the company's reputation.
- Dependence on a single founder shareholder could amplify the impact of changes in that relationship.
Risks
- Dependence on founder shareholderhigh
Relations with the founder and Zaim SA could affect the independence of decisions if dealings do not follow normal market conditions.
- Fund remittance problemshigh
The report mentions potential issues with remitting dividends and management fees, which could affect liquidity.
- Reduced governancemedium
A small board and the absence of a nomination committee could limit independent oversight of decisions.
- Pay tied to performance thresholdsmedium
Salary increases conditioned on EBITDA could create cost pressure if the thresholds are reached.
- Capital market compliancelow
Reporting and market abuse obligations could lead to sanctions if not met.
Investment thesis
What would need to be true (bull case)
- If governance and the relationship agreement with the founder shareholder work as provided, the company could operate with greater independence.
- Clarifying the dividend policy could support shareholder confidence and the stability of the financial structure.
- The board's commitment to governance standards as the company grows could reduce operational risks.
What would break the thesis
- If fund remittance problems persist, the company's liquidity could be affected.
- Dependence on the controlling shareholder could limit autonomy and create conflicts of interest.
- A small board and no nomination committee could weaken oversight of important decisions.
What to watch
- Next financial results report and notes on dividend remittance2027
- Developments in the relationship agreement with Zaim SA and related-party transactions2027
- Possible establishment of a nomination committee or board changesnext 10-K
- Audit report and conclusions on internal controls2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Adalan Ventures PLC, formerly Zaim Credit Systems PLC, is listed in the Standard segment of the LSE Official List. According to the annual report for the year ended 31 December 2022, the board comprises an executive director, a non-executive chairman and other members, including one independent non-executive director 1. The available excerpt does not provide a detailed description of products or revenues.
The governance structure includes an audit committee and a remuneration committee, while a nomination committee was not established and decisions are taken by the board as a whole 1. The company stated it voluntarily adopts the QCA Code where practicable.
A relationship agreement with the founder shareholder Zaim SA aims to ensure the company operates independently and on arm's length commercial terms 1.
Segments
Core activity
The excerpt does not detail the company's business segments, so separate business lines cannot be described.
Governance and structure
Governance structure is the main information in the report, with defined roles for the chairman, chief executive and finance director.
Market context
The annual report describes the company as listed in the Standard segment of the LSE and does not provide, in the available excerpt, data on the market it operates in or its market share.
The lack of market data limits assessment of competitive position, and conclusions could only be completed from later reports or additional documents.
Trends
- Governance scaled to company sizemixed
The board said it applies governance standards proportionate to the company's size, which could reduce administrative costs.
- Pay linked to EBITDA performancemixed
Some director contracts provide salary increases if EBITDA reaches monthly thresholds, which could make costs dependent on results.
- Dependence on founder shareholderheadwind
The relationship agreement with Zaim SA and the founder could limit operational independence if related dealings are not on normal terms.
- Compliance requirements on the LSEheadwind
Market abuse and periodic reporting obligations increase the compliance required, which could generate additional costs.
Competitive position
The available annual report does not identify direct competitors and does not compare the company's position with other actors in the same field.
Without source information, competitive advantages or strategic differences versus other companies in the credit sector cannot be assessed.
- Competitors not named in the source
The source does not identify competitors; comparable issuers cannot be named.
- Other credit companies listed on the LSE
General category; the source gives no names or comparative data.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202211 Sept 2023
Sources
- [1] Annual report, fiscal year ended 2022-12-31 (ESEF) · SEC / Adalan Ventures PLC · 31 Dec 2022
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.