{"id":27152,"date":"2024-10-15T09:39:29","date_gmt":"2024-10-15T07:39:29","guid":{"rendered":"https:\/\/integrae.it\/?p=27152"},"modified":"2024-10-15T09:39:30","modified_gmt":"2024-10-15T07:39:30","slug":"update-15-10-2024","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/ricerche\/update-15-10-2024\/","title":{"rendered":"UPDATE 15.10.2024"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>As of the first half of 2024, the value of production reached \u20ac 3.52 million, reflecting a 22.0% increase compared to \u20ac 2.88 million as of June 30th, 2023. EBITDA for June 30th, 2024, stood at \u20ac 1.05 million, marking a significant growth of 122.0% compared to \u20ac 0.48 million for the 1H23A. The EBITDA margin for the period, calculated on sales revenue, was 58.5%, a notable increase from 20.8% in the first half of 2023. EBIT reached \u20ac 0.78 million, rising from \u20ac 0.33 million in the 1H23A, with the EBIT margin at 43.5%, up from 14.6% recorded on June 30th, 2023. Net income as of June 30th, 2024, was \u20ac 0.45 million, exceeding the \u20ac 0.17 million result of the previous period.<br><br>In light of the results published in the semi-annual report for 1H24A, we are revising our estimates for both the current year and the upcoming years. Specifically, we estimate the value of production for FY24E to be \u20ac 10.00 million, with an EBITDA of \u20ac 3.25 million, corresponding to an EBITDA margin of 40.6% on sales revenue. Looking forward, we anticipate that the value of production will increase to \u20ac 17.00 million by FY26E, reflecting a CAGR of 34.3% from FY23A to FY26E. In the same period, we expect EBITDA to grow to \u20ac 5.65 million (with a margin of 40.9%), up from \u20ac 2.54 million in FY23A (which had an EBITDA margin of 41.2%). From a balance sheet perspective, we project a NFP that will turn cash positive by FY26E, amounting to \u20ac 4.82 million.<br><br>Due to the lack of comparable companies, we conducted the valuation of Franchetti\u2019s equity value using only the DCF methodology. The DCF method, which includes a specific risk premium of 2.5% in the WACC calculation for prudential purposes, resulted in an equity value of \u20ac 80.1 million. Based on this, the <strong>target price is set at \u20ac 10.00, with a BUY rating and MEDIUM risk.<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>As of the first half of 2024, the value of production reached \u20ac 3.52 million, reflecting a 22.0% increase compared to \u20ac 2.88 million as of June 30th, 2023. EBITDA for June 30th, 2024,<\/p>\n","protected":false},"author":5,"featured_media":12324,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17,130],"tags":[163],"class_list":["post-27152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ricerche","category-update","tag-franchetti-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UPDATE 15.10.2024 - 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\/ricerche\/update-15-10-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPDATE 15.10.2024 - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"As of the first half of 2024, the value of production reached \u20ac 3.52 million, reflecting a 22.0% increase compared to \u20ac 2.88 million as of June 30th, 2023. 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