NVP
On 3 December 2019, NVP S.p.A. obtained admission to negotiate ordinary shares on AIM Italia, a multilateral negotiations system organized and managed by Borsa Italiana. Negotiations began on 05 December 2019.
Integrae SIM acted as a Nomad of the private placement and is a Specialist of the Issuer.
The placement price The unit price of the shares resulting from the placement was set at Euro 3.8;
The enterprise. NVP is an Italian company active in the sector of video production services mainly for television networks and owners or managers of television rights. The activity is carried out, in particular, in the design and development, of mobile directories (Ob-Van) with high technological content, of television events, in particular sports, entertainment, concerts, and shows.
Ultima Ricerca NVP
UPDATE| As of 30 June 2026, Convergenze recorded a value of production of € 13.21 mln, up 3.5% compared to € 12.75 mln in 1H25A, thanks to the positive contribution of both Business Units, TLC and Energy. Adj. EBITDA stood at € 1.97 mln, slightly down from € 2.18 mln in 1H25A, with an Adj. EBITDA margin of 14.9% (17.1% as of 30 June 2025), reflecting the higher incidence of procurement costs in the Energy BU. Reported EBITDA came in at € 1.94 mln (€ 2.11 mln in 1H25A), with a margin of 14.7%. Consequently, EBIT, after depreciation and amortization of approximately € 1.03 mln, amounted to € 0.91 mln (€ 1.03 mln in 1H25A), while net income remained positive at approximately € 0.41 mln, compared to € 0.49 mln in the comparative period. In light of the results published in the 1H26A half-year report, we have slightly revised our estimates for both the current year and the coming years. We estimate a value of production for FY26E of € 27.20 mln and EBITDA of € 4.47 mln, corresponding to a margin of 16.4%. For the following years, we expect the value of production to increase to € 31.20 mln (CAGR 25A-28E: 6.4%) in FY28E, with EBITDA of € 5.95 mln (corresponding to a margin of 19.1%), up from € 3.73 mln in FY25A (corresponding to an EBITDA margin of 14.4%). On the balance sheet side, we estimate a net debt position of € 0.18 mln for FY28E. We conducted the valuation of Convergenze’s equity value based on the DCF methodology and on the multiples of a sample of comparable companies. The DCF method (which, for prudential purposes, also includes a specific risk premium of 2.5% in the WACC calculation) returns an equity value of € 32.00 mln. Convergenze’s equity value based on market multiples is € 29.47 mln. This results in an average equity value of € 30.73 mln. The target price is € 4.10, with a BUY rating and MEDIUM risk. |
