{"id":19455,"date":"2023-09-18T11:55:57","date_gmt":"2023-09-18T09:55:57","guid":{"rendered":"https:\/\/integrae.it\/?p=19455"},"modified":"2023-09-18T11:56:10","modified_gmt":"2023-09-18T09:56:10","slug":"breaking-news-15-09-2023","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/research\/breaking-news-15-09-2023\/","title":{"rendered":"UPDATE &#8211; 15.09.2023"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>In the half-yearly report as of June 30th, 2023, Matica Fintec reported consolidated revenues of \u20ac 11.44 million and parent company revenues of \u20ac 9.50 million, recording a positive growth (+14.0%) compared to 1H22A, which saw revenues of \u20ac 8.34 million. The consolidated value of production came in equal to \u20ac 11.82 million, up from the equivalent figure for 1H22A of \u20ac 8.77 million. EBITDA for the period came in at \u20ac 2.06 million (\u20ac 2.34 million in 1H22A), with a margin on revenues of 18.0%, thus marking a slowdown compared to 1H22A. EBIT was \u20ac 1.61 million, compared to \u20ac 1.94 million in 1H22A, with an EBIT margin of 14.1%. Net Income was also positive, amounting to a value of \u20ac 0.88 million.<br><br>In light of the results published in the annual report for 1H23A, we estimate a revenue volume for FY23E equal to \u20ac 21.00 million, and an expected growth over the next three years up to \u20ac 25.00 million in FY25E. Marginality is in line to be positive for the end of the year, with an EBITDA of \u20ac 3.60 million for FY23E, corresponding to a margin of 17.1%, despite the slowdowns. In the following years, we expect the EBITDA of Matica Fintec to rise to \u20ac 4.45 million in FY25E, corresponding to an EBITDA margin of 17.8%.<br><br>We conducted our valuation of the equity value of Matica Fintec based on the DCF method and multiples of a sample of comparable companies. The DCF method (including, for prudential purposes, a specific risk equal to 2.5% in the calculation of the WACC) returned an equity value of \u20ac 33.7 million. Using market multiples, the equity value of Matica Fintec was \u20ac 29.8 million (including a 25.0% discount). The result gives an average equity value of approximately \u20ac 31.7 million.\u00a0<strong>The target price is \u20ac 2.90, with a BUY rating and MEDIUM risk.<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>In the half-yearly report as of June 30th, 2023, Matica Fintec reported consolidated revenues of \u20ac 11.44 million and parent company revenues of \u20ac 9.50 million, recording a positive growth (+14.0%) compared to 1H22A,<\/p>\n","protected":false},"author":5,"featured_media":11530,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,242],"tags":[301],"class_list":["post-19455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-update-en","tag-matica-fintech"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UPDATE - 15.09.2023 - 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\/breaking-news-15-09-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPDATE - 15.09.2023 - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"In the half-yearly report as of June 30th, 2023, Matica Fintec reported consolidated revenues of \u20ac 11.44 million and parent company revenues of \u20ac 9.50 million, recording a positive growth (+14.0%) compared to 1H22A,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrae.it\/en\/research\/breaking-news-15-09-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-18T09:55:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-18T09:56:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/integrae.it\/wp-content\/uploads\/2021\/03\/matica-400x400-1-ojr1p5ky4j110x7l5qwten98jygxroo3tsc32zz928.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\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":"UPDATE - 15.09.2023 - 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\/breaking-news-15-09-2023\/","og_locale":"en_US","og_type":"article","og_title":"UPDATE - 15.09.2023 - integrae.it \u2013 Financial Boutique","og_description":"In the half-yearly report as of June 30th, 2023, Matica Fintec reported consolidated revenues of \u20ac 11.44 million and parent company revenues of \u20ac 9.50 million, recording a positive growth (+14.0%) compared to 1H22A,","og_url":"https:\/\/integrae.it\/en\/research\/breaking-news-15-09-2023\/","og_site_name":"integrae.it \u2013 Financial Boutique","article_published_time":"2023-09-18T09:55:57+00:00","article_modified_time":"2023-09-18T09:56:10+00:00","og_image":[{"width":400,"height":400,"url":"https:\/\/integrae.it\/wp-content\/uploads\/2021\/03\/matica-400x400-1-ojr1p5ky4j110x7l5qwten98jygxroo3tsc32zz928.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"amministratore integrae","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/integrae.it\/en\/#website","url":"https:\/\/integrae.it\/en\/","name":"integrae.it \u2013 Financial Boutique","description":"CORPORATE FINANCE EQUITY RESEARCH EQUITY SALES &amp; 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