Breaking News, Research 19 Jan 2024
BREAKING NEWS – 19.01.2024
| In the press release of January 17, 2024, FOPE SpA – a leading Italian jewelry company in the high-end jewelry sector listed on the Euronext Growth Milan market, announced that it had closed the 2023 fiscal year generating net consolidated revenues of € 66.80 million. The result testifies to last year’s outstanding performance, reporting a 7.4 % growth over the FY22A figure of € 62.16 million. Moreover, the figure for 2023 is fully in line with the estimate for revenues (amounting to € 68.50 million) reported within our last report as of October 6, 2023. The result is even more positive considering the low economic performance during the period, thus confirming the Company’s ability to maintain a high overall level of sales and good efficiency in its operations. Moreover, as previously estimated, further growth is expected during the current and subsequent years. Considering the press release, while waiting to evaluate the full results of the financial statements for 2023, we confirm our recommendation: target price € 41.50, rating BUY and risk MEDIUM. |