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 – 16.04.2024
In the consolidated financial statements as of December 31, 2023, NVP reported revenues of € 27.48 million, marking a growth of 57.9% compared to € 17.41 million in FY22A, and exceeding the estimate of our previous report of € 24.50 million. EBITDA for the period was € 7.75 million, up 38.2% compared to € 5.61 million in FY22A. The EBITDA margin fell slightly, from 32.2% in FY22A to 28.2% in 2023. EBIT came in at € 3.11 million, up 47.0% from € 2.11 million in FY21A, substantially in line with our previous report’s estimate of € 3.25 million. Net Income was also positive, at € 0.73 million.
In light of the results published in the financial statements for FY23A, we have adjusted our estimates for both the current year and the following years. In particular, we now estimate an FY24E value of production of € 35.50 million, with an EBITDA of € 10.25 million, corresponding to a margin of 31.1%. In the following years, we expect the value of production to reach € 49.50 in FY26E, with EBITDA equal to € 16.45 million (corresponding to an EBITDA margin of 35.0%), up from € 7.75 million in FY23A (corresponding to an EBITDA margin of 28.2%).
We conducted our valuation of the equity value of NVP based on the DCF method and multiples of a sample of comparable companies. The DCF method (including, for prudential purposes, a specific risk of 2.5% in the calculation of the WACC) returned an equity value of € 74.02 million. Using market multiples, the equity value of NVP is € 66.57 million (including a 25.0% discount). The results gives an average equity value of approximately € 70.29 million. The target price is € 9.25, with a BUY rating and MEDIUM risk.
Latest Research NVP
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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...
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BREAKING NEWS – 19.12.2022
In the press release of 15 December 2022, NVP, an innovative...
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UPDATE – 10.10.2022
The Company generated revenues of € 8.18 million,up 30.0% ...