On 3 December 2019, NVP S.p.A. obtained admission to negotiate ordinary shares on AIM Italia, a multilateral negotiations system organized and managed by Borsa Italiana. Negotiations began on 05 December 2019.
Integrae SIM acted as a Nomad of the private placement and is a Specialist of the Issuer.
The placement price The unit price of the shares resulting from the placement was set at Euro 3.8;
The enterprise. NVP is an Italian company active in the sector of video production services mainly for television networks and owners or managers of television rights. The activity is carried out, in particular, in the design and development, of mobile directories (Ob-Van) with high technological content, of television events, in particular sports, entertainment, concerts, and shows.
Ultima Ricerca NVP
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UPDATE – 30.10.2024
In the consolidated half-year report as of June 30th, 2024, NVP recorded revenues of € 14.78 million, marking an 18.8% increase compared to € 12.43 million in the first half of 2023. The Group’s EBITDA for the first half of 2024 reached € 3.82 million, showing a slight increase from € 3.71 million in 1H23A. The EBITDA margin stood at 25.3%, down from 29.2% in the same period of the previous year. EBIT came in at € 1.37 million, a decrease from € 1.69 million in the first half of 2023. The EBIT margin, calculated on the value of production, declined to 9.1% from 13.3% in 1H23A. Net Income amounted to € 0.26 million, down from € 0.39 million in the first half of 2023.
In light of the results published in the half-year report for 1H24A, we are slightly adjusting our estimates for both the current year and the upcoming years. Specifically, we forecast a FY24E value of production of € 35.50 million with an EBITDA of € 10.25 million, reflecting a margin of 31.1%. For the following years, we expect the value of production to increase to € 50.50 million by FY26E, with an EBITDA of € 16.80 million (corresponding to an EBITDA margin of 35.0%), up from € 7.75 million in FY23A (equivalent to an EBITDA margin of 28.2%).
We conducted the equity value assessment of NVP based on the DCF methodology and multiples from a sample of comparable companies. The DCF method (which, for prudential purposes, includes a specific risk of 2.5% in the WACC calculation) yields an equity value of € 78.47 million. The equity value of NVP using market multiples is € 65.89 million (including a 25.0% discount). This results in an average equity value of approximately € 72.18 million. The target price is € 9.50, with a BUY rating and MEDIUM risk.
Latest Research NVP
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UPDATE – 30.10.2024
In the consolidated half-year report as of June 30th, 2024, ...
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BREAKING NEWS – 03.06.2024
In a press release dated May 27th, 2024, NVP SpA, an Innovat...
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UPDATE – 16.04.2024
In the consolidated financial statements as of December 31, ...
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BREAKING NEWS – 05.02.2024
In a press release issued on January 25th, 2024, NVP SpA, an...
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BREAKING NEWS – 01.02.2024
In a press release issued on January 25th, 2024, NVP SpA, an...
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UPDATE – 23.10.2023
In the half year results as of June 30, 2023, NVP reported r...
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BREAKING NEWS – 19.09.2023
In a press release dated August 1st, NVP SpA – an Inno...
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BREAKING NEWS – 21.07.2023
In the press release of July 13th, 2023, NVP SpA – Innovat...
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UPDATE – 12.04.2023
In the financial statements as at December 31, 2022, NVP con...
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BREAKING NEWS – 02.02.2023
In the press release of 1 February 2023, the Board of Direct...