{"id":21758,"date":"2024-01-08T08:35:48","date_gmt":"2024-01-08T07:35:48","guid":{"rendered":"https:\/\/integrae.it\/?p=21758"},"modified":"2024-01-08T08:35:50","modified_gmt":"2024-01-08T07:35:50","slug":"initiation-of-coverage-08-01-2024","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/research\/initiation-of-coverage-08-01-2024\/","title":{"rendered":"Initiation of Coverage &#8211; 08.01.2024"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Simone SpA is an Italian company established in Naples in 2011 and  operating in the publishing sector through a number of brands, including  Edizioni Simone, which has over 50 years of history. Simone is also the  parent company of Gruppo Simone, which has the following subsidiaries:  Dike Giuridica Srl, Editrice Ardea Web Srl, Il Gatto Verde Edizioni Srl,  Font Caf\u00e9 Srl, and Libri e Professioni Srl.\u00a0The Group represents an  example of excellence in the Italian publishing market, and it is  specialized in the publication of manuals and books for an extremely  varied clientele. This clientele includes school students of all levels,  as well as professionals preparing for university exams and public  competitions of various kinds. The main objective of the Group is to  combine the experience and expertise of it various companies, and to  consolidate its positioning as a leading point of reference in the  publishing sector. This is made possible by a large portfolio of  proprietary content that is constantly updated by the in-house editors,  as well as by a high-quality customer service.Gruppo  Simone is a leading player in the Italian publishing sector. Currently  the Group carries out its business exclusively in Italy, with a greater  coverage in central and southern regions. In 2022, Italian publishing  confirmed its leading role on the international scene, qualifying as the  fourth largest market in Europe, after Germany, the United Kingdom, and  France.We have conducted  the valuation of Simone&#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 24.6 mln, while the equity value resulting from the  multiples method, applying a 25% discount, is equal to \u20ac 21.8 mln. The  result is an average equity value of \u20ac 23.2 mln.<strong> The target price is \u20ac 3.10, BUY rating and MEDIUM risk.\u00a0 \u00a0\u00a0<\/strong>\u00a0 \u00a0\u00a0<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Simone SpA is an Italian company established in Naples in 2011 and operating in the publishing sector through a number of brands, including Edizioni Simone, which has over 50 years of history. Simone is<\/p>\n","protected":false},"author":5,"featured_media":21603,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,242],"tags":[316],"class_list":["post-21758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-update-en","tag-simone-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 - 08.01.2024 - 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-08-01-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Initiation of Coverage - 08.01.2024 - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"Simone SpA is an Italian company established in Naples in 2011 and operating in the publishing sector through a number of brands, including Edizioni Simone, which has over 50 years of history. 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