{"id":26896,"date":"2024-10-02T09:36:18","date_gmt":"2024-10-02T07:36:18","guid":{"rendered":"https:\/\/integrae.it\/?p=26896"},"modified":"2024-10-02T09:36:40","modified_gmt":"2024-10-02T07:36:40","slug":"breaking-news-01-10-2024","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/","title":{"rendered":"UPDATE &#8211; 01.10.2024"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>The value of production for 1H24A stands at \u20ac 26.29 million, showing a 6.4% growth compared to 1H23A (\u20ac 24.70 million). EBITDA reached \u20ac 11.47 million, marking a 6.7% increase compared to \u20ac 10.75 million in 1H23A. The EBITDA margin, at 43.6%, also saw a slight improvement from last year\u2019s first half result (43.5%). EBIT amounted to \u20ac 5.84 million (\u20ac 5.95 million in 1H23A). Net income stood at \u20ac 3.54 million (\u20ac 3.90 million in the first half of 2023). As of June 30, 2024, the NFP shows a debt of \u20ac 27.37 million.<br><br>In light of the results published in the 1H24A interim report and the presentation of the 2024-2027 Strategic Plan, we are revising our estimates for the current year and the coming years. Specifically, we estimate a production value of \u20ac 57.45 million for FY24E, with an EBITDA of \u20ac 24.85 million, corresponding to a margin of 43.3%. For the subsequent years, we expect the production value to increase to \u20ac 71.45 million (CAGR 23A-27E: 9.1%) by FY27E, with an EBITDA of \u20ac 35.70 million (corresponding to a margin of 50.0%), up from \u20ac 22.53 million in FY23A (with an EBITDA margin of 44.6%). On the balance sheet, for FY27E, we estimate an NFP debt of \u20ac 10.02 million.<br><br>We have conducted a valuation of Intred\u2019s equity value using the DCF methodology and multiples from a peer group of comparable companies. The DCF method (which prudently includes a specific risk premium of 1.0% in the WACC calculation) results in an equity value of \u20ac 387.4 million. Intred\u2019s equity value using market multiples amounts to \u20ac 295.6 million. <strong>As a result, the average equity value is approximately \u20ac 341.5 million. The target price is set at \u20ac 21.50, with a BUY rating and a MEDIUM risk level.<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The value of production for 1H24A stands at \u20ac 26.29 million, showing a 6.4% growth compared to 1H23A (\u20ac 24.70 million). EBITDA reached \u20ac 11.47 million, marking a 6.7% increase compared to \u20ac 10.75<\/p>\n","protected":false},"author":5,"featured_media":22239,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,242],"tags":[199],"class_list":["post-26896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-update-en","tag-intred-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UPDATE - 01.10.2024 - 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\/breaking-news-01-10-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPDATE - 01.10.2024 - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"The value of production for 1H24A stands at \u20ac 26.29 million, showing a 6.4% growth compared to 1H23A (\u20ac 24.70 million). EBITDA reached \u20ac 11.47 million, marking a 6.7% increase compared to \u20ac 10.75\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-02T07:36:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-02T07:36:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/integrae.it\/wp-content\/uploads\/2024\/01\/20137.png\" \/>\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\/png\" \/>\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 - 01.10.2024 - 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\/breaking-news-01-10-2024\/","og_locale":"en_US","og_type":"article","og_title":"UPDATE - 01.10.2024 - integrae.it \u2013 Financial Boutique","og_description":"The value of production for 1H24A stands at \u20ac 26.29 million, showing a 6.4% growth compared to 1H23A (\u20ac 24.70 million). EBITDA reached \u20ac 11.47 million, marking a 6.7% increase compared to \u20ac 10.75","og_url":"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/","og_site_name":"integrae.it \u2013 Financial Boutique","article_published_time":"2024-10-02T07:36:18+00:00","article_modified_time":"2024-10-02T07:36:40+00:00","og_image":[{"width":400,"height":400,"url":"https:\/\/integrae.it\/wp-content\/uploads\/2024\/01\/20137.png","type":"image\/png"}],"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; TRADING","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/integrae.it\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/#primaryimage","url":"https:\/\/integrae.it\/wp-content\/uploads\/2024\/01\/20137.png","contentUrl":"https:\/\/integrae.it\/wp-content\/uploads\/2024\/01\/20137.png","width":400,"height":400,"caption":"Intred"},{"@type":"WebPage","@id":"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/#webpage","url":"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/","name":"UPDATE - 01.10.2024 - integrae.it \u2013 Financial Boutique","isPartOf":{"@id":"https:\/\/integrae.it\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/#primaryimage"},"datePublished":"2024-10-02T07:36:18+00:00","dateModified":"2024-10-02T07:36:40+00:00","author":{"@id":"https:\/\/integrae.it\/en\/#\/schema\/person\/ff4803b14289cbd9d1c029003956aa7e"},"breadcrumb":{"@id":"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/integrae.it\/en\/research\/breaking-news-01-10-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"UPDATE &#8211; 01.10.2024"}]},{"@type":"Person","@id":"https:\/\/integrae.it\/en\/#\/schema\/person\/ff4803b14289cbd9d1c029003956aa7e","name":"amministratore integrae","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/integrae.it\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8bfcd102ed022191bffee6f9b0482ddd?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8bfcd102ed022191bffee6f9b0482ddd?s=96&d=mm&r=g","caption":"amministratore integrae"},"sameAs":["https:\/\/www.integrae.it"],"url":"https:\/\/integrae.it\/en\/author\/amministratore_integrae\/"}]}},"_links":{"self":[{"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/posts\/26896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/comments?post=26896"}],"version-history":[{"count":2,"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/posts\/26896\/revisions"}],"predecessor-version":[{"id":26898,"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/posts\/26896\/revisions\/26898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/media\/22239"}],"wp:attachment":[{"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/media?parent=26896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/categories?post=26896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/integrae.it\/en\/wp-json\/wp\/v2\/tags?post=26896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}