BREAKING NEWS – 07.03.2024

In a press release on March 6th, 2024, E-Globe, an innovative SME operating in the manufacture, design and distribution of energy-efficient plumbing, heating and air conditioning systems through its proprietary platform www.climamarket.it, listed on the Euronext Growth Milan (EGM) market, announced that it ranked among the top 1,000 European companies by revenue growth for the period 2019 – 2022, registering a CAGR of about 61.0%. The highly recognized FT1000 – Europe’s Fastest Growing Companies 2024 ranking, prepared by the Financial Times and Statista in its eighth edition, includes the European companies with the highest compound annual growth rate (CAGR) in terms of turnover from 2019 to 2022. The data confirm the leadership of Italian companies, with 309 companies listed; followed by Germany, which has 202. The ranking was determined by experts from Financial Times 1000, who examine tens of thousands of companies in Europe using company databases and public sources, according to specific selection criteria. These include: revenues of not less than € 0.10 million in 2019 and at least € 1.50 million in 2022; being an independent (non-subsidiary) entity; record a growth in revenues in the period under consideration that is mostly organic; possess a CAGR of not less than 36.3 %; for listed companies, not to have experienced a decline in share value of more than 50.0% since 2022. Taking the press release into consideration, while waiting to meet with management and evaluate the 2023 fiscal year results, we confirm our recommendation: Target Price € 3.45, Rating BUY and Risk Medium.

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