{"id":13902,"date":"2022-12-21T08:51:32","date_gmt":"2022-12-21T07:51:32","guid":{"rendered":"https:\/\/integrae.it\/?p=13902"},"modified":"2022-12-21T08:51:33","modified_gmt":"2022-12-21T07:51:33","slug":"initiation-of-coverage-21-12-2022","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/research\/initiation-of-coverage-21-12-2022\/","title":{"rendered":"Initiation of Coverage &#8211; 21.12.2022"},"content":{"rendered":"\n<p>Saccheria F.lli Franceschetti SpA is an Italian company active in the textile sector, established at the end of the 1930s as a recovery company for used jute bags. The Company has evolved over time to become a leader in the Italian market for polypropylene raffia packaging such as bags, big bags and canvases. The Company is able to provide customers with a level of extreme precision, speed and customization in every single order, through constant and scrupulous research, analysis and study of business processes and operating flows. Saccheria Franceschetti is also among the top five European Big Bag traders, guaranteeing competitive prices for consumer products. In Italy, it stands out for being the only industrial company able to create a completely customized product.<\/p>\n\n\n\n<p>Saccheria F.lli Franceschetti SpA is a company active in the market of FIBC (Flexible Intermediate Bulk Container Fill Spout), bags and sacks in polyethylene, polypropylene or cotton. The Company is positioned as a leader in the Italian packaging market and is in a favorable position to face the current macroeconomic changes. The FIBC market is defined as the market for bags for the storage of bulk products. These bags are made of canvas with the aim of optimizing shipping costs compared to other heavy or bulky containers. The market reached a value in 2022 of about \u20ac6.5 billion and according to Maia Research will reach \u20ac 7 billion by 2023. The market maintained constant growth levels, with expected growth rates for the period 2022-2023 of around 8.0%.&nbsp;<\/p>\n\n\n\n<p>We have conducted the valuation of Saccheria F.lli Franceschetti&#8217;s equity value based on the DCF methodology and the multiples of a sample of comparable companies. The value resulting from the application of the DCF methodology (which in the calculation of the WACC includes for prudential purposes a specific risk equal to 2.5%) is equal to \u20ac 32.9 mln, while the equity value resulting from the multiples method, applying a 25% discount, is equal to \u20ac 19.2 mln. <strong>The result is an average equity value of \u20ac 26.0 mln. The target price is \u20ac 3.00, BUY rating and MEDIUM risk.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saccheria F.lli Franceschetti SpA is an Italian company active in the textile sector, established at the end of the 1930s as a recovery company for used jute bags. The Company has evolved over time<\/p>\n","protected":false},"author":5,"featured_media":13772,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,241],"tags":[263],"class_list":["post-13902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-initiation-of-coverage-en","tag-saccheria-franceschetti-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Initiation of Coverage - 21.12.2022 - integrae.it \u2013 Financial Boutique<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/integrae.it\/en\/research\/initiation-of-coverage-21-12-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Initiation of Coverage - 21.12.2022 - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"Saccheria F.lli Franceschetti SpA is an Italian company active in the textile sector, established at the end of the 1930s as a recovery company for used jute bags. The Company has evolved over time\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrae.it\/en\/research\/initiation-of-coverage-21-12-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-21T07:51:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-21T07:51:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/integrae.it\/wp-content\/uploads\/2022\/12\/Logo-Saccheria.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"225\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"amministratore integrae\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Initiation of Coverage - 21.12.2022 - integrae.it \u2013 Financial Boutique","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/integrae.it\/en\/research\/initiation-of-coverage-21-12-2022\/","og_locale":"en_US","og_type":"article","og_title":"Initiation of Coverage - 21.12.2022 - integrae.it \u2013 Financial Boutique","og_description":"Saccheria F.lli Franceschetti SpA is an Italian company active in the textile sector, established at the end of the 1930s as a recovery company for used jute bags. 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