{"id":24266,"date":"2024-04-17T09:12:57","date_gmt":"2024-04-17T07:12:57","guid":{"rendered":"https:\/\/integrae.it\/?p=24266"},"modified":"2024-04-17T09:12:59","modified_gmt":"2024-04-17T07:12:59","slug":"update-17-04-2024-2","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/research\/update-17-04-2024-2\/","title":{"rendered":"UPDATE &#8211; 17.04.2024"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Green Oleo, in its financial report as of December 31, 2023, recorded a value of production of \u20ac 62.58 million, of which \u20ac 60.57 million attributable to sales revenues, \u20ac 2.61 million related to a negative change in inventories, and \u20ac 4.62 million representing the item of other revenues. EBITDA amounted to \u20ac 1.55 million, corresponding to an EBITDA margin of 2.5% on the value of production. EBIT, considering the above, came in with a negative value for 2023, equal to \u20ac -1.26 million, after depreciation and amortization of \u20ac 2.81 million. Net Income was negative, equal to \u20ac -0.59 million.<br><br>In light of the FY23A results, we have modified our estimates for both the current year and the following years. In particular, we now estimate an FY24E value of production of \u20ac 67.20 million, and an EBITDA of \u20ac 4.70 million, corresponding to a margin of 7.0%. In the following years, we expect the value of production to reach \u20ac 81.50 million in FY26E, with EBITDA equal to \u20ac 6.10 million (corresponding to an EBITDA margin of 7.5 %), up from the value of \u20ac 1.55 million in FY23A (corresponding to an EBITDA margin of 2.5%).<br><br>We conducted our valuation of the equity value of Green Oleo 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 78,1 million. Using market multiples, the equity value of Green Oleo is \u20ac 45.0 million (including a 25.0% discount). The result gives an average equity value of approximately \u20ac 61,6 million. <strong>The target price is \u20ac 1.90 (prev. \u20ac 2.65), with a BUY rating, and MEDIUM risk.<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Green Oleo, in its financial report as of December 31, 2023, recorded a value of production of \u20ac 62.58 million, of which \u20ac 60.57 million attributable to sales revenues, \u20ac 2.61 million related to<\/p>\n","protected":false},"author":5,"featured_media":17871,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,242],"tags":[300],"class_list":["post-24266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-update-en","tag-green-oleo-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UPDATE - 17.04.2024 - 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\/update-17-04-2024-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPDATE - 17.04.2024 - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"Green Oleo, in its financial report as of December 31, 2023, recorded a value of production of \u20ac 62.58 million, of which \u20ac 60.57 million attributable to sales revenues, \u20ac 2.61 million related to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrae.it\/en\/research\/update-17-04-2024-2\/\" \/>\n<meta property=\"og:site_name\" content=\"integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-17T07:12:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-17T07:12:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/integrae.it\/wp-content\/uploads\/2023\/06\/Green-Oleo.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 - 17.04.2024 - 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\/update-17-04-2024-2\/","og_locale":"en_US","og_type":"article","og_title":"UPDATE - 17.04.2024 - integrae.it \u2013 Financial Boutique","og_description":"Green Oleo, in its financial report as of December 31, 2023, recorded a value of production of \u20ac 62.58 million, of which \u20ac 60.57 million attributable to sales revenues, \u20ac 2.61 million related to","og_url":"https:\/\/integrae.it\/en\/research\/update-17-04-2024-2\/","og_site_name":"integrae.it \u2013 Financial Boutique","article_published_time":"2024-04-17T07:12:57+00:00","article_modified_time":"2024-04-17T07:12:59+00:00","og_image":[{"width":400,"height":400,"url":"https:\/\/integrae.it\/wp-content\/uploads\/2023\/06\/Green-Oleo.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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