BREAKING NEWS – 19.09.2024

In the press release of September 17, 2024, Intred SpA, a telecommunications operator listed on the Euronext Growth Milan market, announced the signing of a preliminary contract for the purchase of a building plot located in the province of Brescia. The area, strategically positioned for urban redevelopment, is currently undergoing environmental remediation and plays a key role in the company’s development plan. The acquisition of this property, which spans over 28,000 square meters, is aimed at the construction of a Data Center, a crucial infrastructure within Intred’s Strategic Plan for the 2021-2027 period. This plan will be reviewed and approved by the Board of Directors in the meeting scheduled for September 24. In addition to the land extension, Intred will also acquire the corresponding building rights, which include 6,000 square meters allocated for the Data Center and another 4,000 square meters reserved for the construction of offices designated for production or tertiary and managerial purposes. The Data Center project, pivotal for the company’s expansion and service diversification, represents one of the main pillars of Intred’s long-term strategy. However, the finalization of the contract and the start of construction work are contingent upon obtaining all necessary authorizations, approvals, and certifications in accordance with current regulations. Once completed, the Data Center will be a highly significant technological infrastructure for the entire region, contributing to strengthening Intred’s presence in the sector and supporting the region’s digital transformation. The contract signed by the Company demonstrates Intred’s full alignment with its Strategic Plan, not only reinforcing its territorial presence but also contributing to the creation of economic and infrastructural opportunities for the entire province. This strengthens our positive outlook on the stock, and we therefore confirm our recommendation: Target Price € 20.50, Rating BUY, and Risk MEDIUM.

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