BREAKING NEWS – 02.02.2023

In the press release of 1 February 2023, the Board of Directors of NVP, an innovative SME active in the end-to-end creation of content for television networks and broadcasting services, listed on Euronext Growth Milan, announced consolidated revenues as of 31 December 2022, not yet subject to audit:

• Revenues amounted to € 17.40 million, 30.0% up compared to the 2021 year-end figure (€ 13.40 million). The Group’s main source of turnover is sports events, with € 12.50 million generated (+39.0% vs FY21A). In fact, the existing collaborations with Dazn and Lega Calcio Serie A have been strengthened, as well as having established long-term relationships with Sky, RMC France, Bein Sport and other broadcasters and having confirmed its presence in the Euroleague Basketball and some prestigious tennis tournaments. The “entertainment and fashion” segment contributes € 4.50 million (+115.0% vs FY21A) from study programmes and fashion events.
• The consolidated value of production therefore amounts to € 20.00 million, up compared to FY21A equal to € 16.55 million and perfectly in line with what was estimated in our previous report of 10 October 2022;
• It is specified that the scope of consolidation currently includes the NVP Roma Srl subsidiary and the newly acquired E.G. Audiovisivi Srl, included from October 2022. 

In light of the approved operating revenues, waiting to evaluate the overall results of the 2022 fiscal year, we confirm our estimates: target price: € 6.75, BUY rating, and Medium risk.

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