BREAKING NEWS – 02.08.2024

In its press release of July 31st, 2024, Spindox, a leading company in ICT (Information & Communication Technology) products and services for digital innovation for businesses, announced the approval of their main, consolidated economic and financial data related to the first half of 2024, which is not subject to audit. As of June 30th, 2024, production value reached € 56.50 million, showing a 14.5% increase compared to the same period in the previous year. This growth is mainly attributable to two factors: excellent performances in the Banking & Insurance, Automotive, Transportation & Logistics, and Utility sectors, as well as the increment in services provided in the cybersecurity sector. In this regard, the subsidiary Oplium Italia, active in the cybersecurity market, achieved a production value of € 2.50 million as of June 30th, 2024, growing by over 75.0% compared to 1H23A. Six Consulting, a company that joined the Group in May 2024, contributed to the Consolidated Value of production by approximately € 0.30 million. The Adjusted EBITDA at the end of the first half of 2024 is approximately € 4.70 million, showing a 29.5% growth compared to the Group’s EBITDA as of June 30th, 2023. The margin is equal to 8.4%, with a significant increase compared to the 7.4% EBITDA margin registered in the same period of the previous year. The Adjustment pertains to extraordinary expenses for approximately € 0.40 million and is related to incentives for the exit of managerial figures, which have not been and will not be replaced, in addition to costs associated with their completion. Factoring in the above charges, the consolidated EBITDA for the period stands at € 4.30 million. Lastly, the NFP (Net Financial Position) as of June 30th, 2024 was € 2.40 million, showing an improvement compared to December 31st, when the NFP was equal to € 2.00 million. This positive change of € 0.50 million is primarily due to the positive financial outcomes of the economic margins generated by operational activities. Additionally, on July 22nd, 2024, Spindox announced the inclusion of its proprietary technology Ublique© among the global Decision Intelligence Platforms (DIP) of Gartner’s new guide. Specifically, DIPs are software developed to support, automate, and enhance decision-making processes for people and machines, through the integration of data, analyses, knowledge, and artificial intelligence techniques. Gartner predicts significant growth in the sector for the coming years. They expect that by 2026, 75.0% of companies worldwide will adopt Decision Intelligence practices to manage decisions and assess their effectiveness. Currently, Ublique© is widely used by several prominent companies, including Enel, €opcar, OVS, Poste Italiane, Aspiag/Despar, PAM, Moncler, Pirelli, and SOL, supporting and automating decision-making processes through advanced algorithms and artificial intelligence techniques. The great success that Ublique© is experiencing is guaranteed by the platform’s ability to combine mathematical optimization, machine learning, and dynamic simulation, offering a flexible and powerful solution for modeling decision flows. Therefore, the inclusion of Spindox in Gartner’s guide represents a significant milestone, confirming the company’s solidity and its ability to meet the growing needs of modern organizations in the field of Decision Intelligence. Consequently, this recognition not only strengthens Spindox’s position as a leader in the sector, but also underlines the validity of its strategy of integrating Data & Analytics with AI, paving the way for new growth and innovation opportunities. Considering the press releases, we reaffirm our positive view on the stock and confirm our estimates: Target Price € 15.80, Rating BUY e Risk MEDIUM.

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