BREAKING NEWS – 10.05.2023

In a press release issued on 8 May 2023, Nusco SpA, a company active in the production and marketing of wood, PVC, aluminum, and iron interior doors and windows under the NUSCO brand, listed on the Euronext Growth Milan market of Borsa Italiana, announced that in the first quarter of 2023, consolidated preliminary revenues amounted to approximately € 11.10 million, which also included the contribution of the newly acquired Pinum Doors & Windows Srl. The figure reflects the excellent results of the Group’s organic growth strategy, based on the increase of Nusco-branded single-brand stores nationwide and the diversification and customization of the commercial offer, as well as the development of commercial initiatives in the foreign markets of greatest interest. The Company also announced the order backlog to be executed as of 31 March 2023, which amounted to approximately € 12.50 million, of which € 6.00 stems from Pinum Doors & Windows. In conjunction with the sharing of this data, the Company also released its first Sustainability Report, with reference to the 2022 year. Nusco thus confirms to the community and stakeholders the commitment undertaken in the ESG field, communicating all the initiatives and company policies implemented to improve the impact of activities on the environment, the territory, and people and its contribution to sustainable development. Among the main achievements shared in the Sustainability Report stand out the increases in the economic value generated, with implications regarding the value distributed to stakeholders, the possession of ISO 9001:2015 and UNI EN ISO 14001:2015 environmental certifications, the implementation of an environmental management system (EMS) and commitments in terms of energy efficiency, as well as the confirmation of the focus on training, workplace health, and safety. Taking into account the press release, we confirm our recommendation: target price € 3.15, BUY rating and MEDIUM risk.

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