On 6 December 2021 I.C.C. S.p.A. obtained the order for admission to negotiate its ordinary shares and warrants called “Warrant International Care Company 2021-2024”, on the Euronext Growth Milan market, a multilateral negotiations system organized and managed by Borsa Italiana. The start of negotiations took place on 8 December 2021.
The total equivalent of the resources raised is approximately Euro 2.5 million, at an offer price of Euro 2.10 per share.
The enterprise International Care Company SpA operates as a care services company and was established in 2018 through the conferral of the business unit relating to personal care activities, management of satellite alarms and claims on behalf of third parties and call centers by FD Service SpA and the business unit relating to the development of telemedicine projects by FD W.OR.L.D. Care S.r.l., both founded by Eng. Ventura, current Chairman and Chief Executive Officer of the Issuer.
Ultima Ricerca International Care Company
UPDATE – 23.10.2023
The company’s revenues came in at € 3.18 million, marking an increase of 30.8% compared to the 1H22A figure of € 2.43 million. EBITDA came in negative by € 0.45 million, worsening compared to the 1H22A figure, negative by € 0.15 million. EBIT, after depreciation and amortization of € 0.33 million, stood at a value of € -0.78 million, worsening compared to the 1H22A figure of € -0.47 million. Net Income came in at € -0.61 million, compared to a loss of € -0.45 million in 1H22A. The NFP is cash positive by € 0.51 million, showing an improvement compared to the 2022 year-end cash positive figure of € 0.45 million.
In light of the published 1H23A half-year results, we have updated our estimates for both the current year and the coming years. In particular, we estimate an FY23E value of production of € 7.20 million, and an EBITDA of € -0.50 million, corresponding to a margin of -7.4%. In the following years, we expect the value of production to rise to € 11.30 million (CAGR 22A-25E: 20.3%) in FY25E, with EBITDA equal to € 2.35 million (corresponding to a margin of 21.4%), up from € -0.34 million in FY22A (corresponding to an EBITDA margin of -5.8%).
We conducted our valuation of the equity value of ICC based on the DCF method. The DCF method (including, for prudential purposes, a specific risk of 2.5% in the calculation of the WACC) returned an equity value of € 15.8 million. The target price is € 3.30 (prev. € 4,20), with BUY rating and MEDIUM risk.
Latest Research International Care Company
UPDATE – 23.10.2023
The company’s revenues came in at € 3.18 million, markin...
BREAKING NEWS – 01.08.2023
In a press release of July 28th, 2023, International Care Co...
UPDATE – 12.04.2023
The Company’s revenues amounted to approximately € 5.89 ...