iVision Tech S.p.A.
1/08/2023
On 01st August 2023 Green Oleo S.p.A. announces that it has received from Borsa Italiana the order for the admission of the Company’s Ordinary Shares and Warrants on “Euronext Growth Milan”, a multilateral negotiations system organized and managed by Borsa Italiana. Negotiations began on 03rd July 2023.
The total equivalent of the resources collected through the placement is equal to Euro 2,00 millions.
The enterprise iVision Tech S.p.A. è una PMI Innovativa e realtà d’eccellenza del manufacturing «Made in Italy» attiva nella progettazione e produzione di montature di occhiali da vista e occhiali da sole in acetato, nonché di occhiali combinati.
Last research iVision Tech S.p.A.
BREAKING NEWS| On July 31st, 2025, iVision Tech SpA, an Innovative SME and a leading “Made in Italy” manufacturing company engaged in the design and production of acetate frames for prescription glasses, sunglasses and combined eyewear, as well as owner of the historic high-end French brands “Henry Jullien” and “Henry Jullien Manufacture”, announced the main consolidated management figures as of June 30th, 2025, not subject to statutory audit. In the first half of the year, consolidated value of production amounted to € 10.10 million, up 46.4% compared to € 6.90 million in the same period of 2024, due to the expansion of the production base, the gradual broadening of the product scope, and the ongoing consolidation of the companies acquired in previous months, which enabled the integration of new skills and the expansion of the Group’s operational capacity. Consolidated revenues reached € 7.20 million, an increase of 35.8% compared to the pro forma € 5.30 million in the first half of 2024. The parent company iVision Tech SpA contributed € 4.70 million, essentially in line with the previous year (+0.1%), but with a markedly evolving revenue composition due to the reduction in the weight of the Full-Service and Contract Manufacturing lines in favor of Semi-Finished Products and other items. Specifically: – Full-Service business line, which covers the entire eyewear production cycle from design to delivery, generated € 0.20 million, compared to € 1.30 million in the first half of 2024; – Contract Manufacturing business line, relating to prototyping, engineering, and industrialization, recorded € 2.00 million, compared to € 3.50 million in the first half of 2024; – Semi-Finished Products business line, linked to finishing and assembly, contributed € 1.30 million, more than double the € 0.60 million in the first half of 2024; – Machinery and Components item, dedicated to the sale of equipment and parts related to the eyewear industry, generated € 0.90 million, in line with the business diversification strategy; – Intragroup Service Provision item, relating to services provided to other companies in the Group, contributed € 0.30 million. The remaining part of consolidated revenues came from the wholly owned subsidiary iVision Tech France SaS for € 0.50 million and from the two investees Teknoema Srl (consolidated at 51.0%) for € 1.80 million and IVILENS OOD (consolidated at 60.0%) for € 0.60 million, which as of January 2025 have been fully included in the Group’s consolidated results. At the profitability level, EBITDA amounted to € 1.40 million, showing an increase of 40.0% compared to € 1.00 million in the first half of 2024. In relative terms, the EBITDA margin remained solid at 14.2%, compared to 15.0% in the same period of the previous year, in light of the increase in value of production. As for the balance sheet, net financial position stood at € 9.70 million as of June 30th, 2025, compared to € 8.29 million at the end of 2024. This trend mainly reflects investments for the launch of the iSee eyewear, an innovative patented device for visually impaired and blind individuals which today represents a strategic asset in the Group’s transformation from a manufacturing player to a technological company in the eyewear sector. This is in addition to the progressive reduction in the use of non-recourse factoring, aimed at containing financial costs, and the increase in inventory, in line with the objectives of strengthening brand identity and expanding the Group’s commercial presence. The solidity of the results achieved in the half confirms iVision Tech’s ability to adapt and maintain operational balance even in a context characterized by widespread slowdowns in the luxury sector due to growing macroeconomic and geopolitical instability, which are now also beginning to affect the eyewear segment. This resilience is the result of a well-structured industrial strategy that has combined the integration of skills acquired through recent M&A operations, the commercial launch of the iSee project, and expansion into complementary segments with the sale of machinery and components for eyewear. A set of synergistic actions that has enabled the Group to consolidate its competitive position and maintain continuity even in a challenging scenario. In line with the results achieved so far, looking ahead, the Group expects performance in line with expectations, supported by the commercial launch of the iSee project and the ongoing process of optimizing the acquired structures, with the goal of further stimulating growth and consolidating its presence in the international market. In a market increasingly oriented toward high value-added specialization, the strategic choice to transform its identity from a manufacturing company to a technological player is proving successful: the results achieved in the first half of the year confirmed the soundness of this repositioning, rewarding the forward-looking approach adopted by management. Taking into account the contents of the release, we confirm our recommendation: target price € 3.00, rating BUY, risk Medium. |
