In the press release dated August 1, 2024, Pozzi Milano SpA – a Company active in the tableware fashion sector, owner of the “EasyLife” brand, and through its subsidiary Pozzi Brand Diffusion Srl, of the historic brands “Pozzi” and “Castello Pozzi” – reviewed the management data as of June 30, 2024, and some KPIs not subject to audit.
Preliminary results show significant revenue growth, reaching €9.40 million, an increase of 11.8% compared to €8.40 million for the same period the previous year. This improvement is mainly due to an increase in the number of customers, despite a reduction in average household spending, influenced by inflationary pressures and uncertainty from international conflicts. Revenues, excluding those from promotional channels, amounted to €7.30 million, a figure that remains essentially unchanged compared to the €7.40 million recorded as of June 30, 2023. This demonstrates stability in sales outside promotions, highlighting the solidity of the Company’s core business.
Another key performance indicator (KPI) concerns the total number of B2B customers, which increased by 4.5%, from 1,317 to 1,376. In particular, the retail channel saw a growth of 5.4%, with an increase in the number of customers from 1,204 to 1,270. These numbers reflect the effectiveness of the Company’s commercial and marketing strategies.
During the first half, Pozzi Milano initiated collaborations with luxury companies such as Bellini Nautica SpA and signed agreements that allowed it to enter new market sectors, as evidenced by the agreement with Antica Occhialeria, a historic artisanal company specializing in the production of eyewear made from fine materials. These developments demonstrate Pozzi Milano’s ability to respond to market needs by offering innovative and high-quality solutions. The expansion of the product range and the focus on research and development have further strengthened the presence of the Company’s brands in the market.
From a financial perspective, the Company’s NFP remained stable at €1.4 million, in line with the value recorded on December 31, 2023. This figure reflects prudent and sustainable financial management, despite economic and market challenges.
In summary, the data reviewed by the Board of Directors of Pozzi Milano as of June 30, 2024, highlights a positive performance, with revenue growth and an increase in the number of customers, supported by effective strategies and strategic collaborations. Financial stability and a continuous commitment to innovation and product development position the Company favorably to face future challenges and seize further growth opportunities.
Taking into consideration the press release, while awaiting a meeting with management and assessing the half-year financial results, we confirm our recommendation: target price €1.50, rating BUY, and risk MEDIUM.
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