{"id":27258,"date":"2024-10-18T09:19:44","date_gmt":"2024-10-18T07:19:44","guid":{"rendered":"https:\/\/integrae.it\/?p=27258"},"modified":"2024-10-18T09:19:45","modified_gmt":"2024-10-18T07:19:45","slug":"update-18-10-2024-2","status":"publish","type":"post","link":"https:\/\/integrae.it\/en\/research\/update-18-10-2024-2\/","title":{"rendered":"UPDATE &#8211; 18.10.2024"},"content":{"rendered":"\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Revenue for 1H24A stands at \u20ac10.55 million, a decrease of 19.3% compared to \u20ac13.08 million in 1H23A. EBITDA amounts to \u20ac0.45 million, a decline of 81.2% compared to 1H23A, when it was \u20ac2.41 million. EBITDA margin, at 4.2%, also shows a decrease compared to the 18.2% margin in the first half of 2023. EBIT, after amortization and impairments of \u20ac0.20 million, stands at \u20ac0.25 million, down 89.1% compared to 1H23A\u2019s result of \u20ac2.33 million. EBIT margin for 1H24A is 2.3%, versus 17.6% for 1H23A. The total Net Income amounts to \u20ac0.30 million compared to \u20ac0.43 million recorded in 1H23A. On the balance sheet side, the NFP for the semester amounts to approximately \u20ac0.80 million in debt, compared to the cash positive \u20ac1.63 million of FY23A.\u00a0<br><br>In particular, in light of the results published in the half-year report for 1H24A, we are revising our estimates both for the current year and for the upcoming years. Specifically, we estimate the Value of Production for FY24E at \u20ac30.45 million and EBITDA of \u20ac3.35 million, corresponding to a margin of 11.0%. For the following years, we expect the Value of Production to increase to \u20ac42.65 million (CAGR 23A-26E: 12.6%) in FY26E, with EBITDA amounting to \u20ac6.55 million (corresponding to a margin of 15.4%), up from \u20ac5.41 million in FY23A (with an EBITDA margin of 18.1%). On the balance sheet, we estimate a NFP of \u20ac1.81 million in debt for FY24E.<br><br>We conducted our valuation of the equity value of E-Globe based on the DCF method. The DCF method (including, for prudential purposes, a specific risk of 2.5% in the calculation of the WACC) returned an equity value of \u20ac36.1 million. <strong>The target price is \u20ac 2.00, with a BUY rating and MEDIUM risk.<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Revenue for 1H24A stands at \u20ac10.55 million, a decrease of 19.3% compared to \u20ac13.08 million in 1H23A. EBITDA amounts to \u20ac0.45 million, a decline of 81.2% compared to 1H23A, when it was \u20ac2.41 million.<\/p>\n","protected":false},"author":5,"featured_media":19022,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-ricerche.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[240,242],"tags":[299],"class_list":["post-27258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research","category-update-en","tag-e-globe-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UPDATE - 18.10.2024 - 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\/update-18-10-2024-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UPDATE - 18.10.2024 - integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"og:description\" content=\"Revenue for 1H24A stands at \u20ac10.55 million, a decrease of 19.3% compared to \u20ac13.08 million in 1H23A. EBITDA amounts to \u20ac0.45 million, a decline of 81.2% compared to 1H23A, when it was \u20ac2.41 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrae.it\/en\/research\/update-18-10-2024-2\/\" \/>\n<meta property=\"og:site_name\" content=\"integrae.it \u2013 Financial Boutique\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-18T07:19:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-18T07:19:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/integrae.it\/wp-content\/uploads\/2023\/08\/e-Globe-logo.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 - 18.10.2024 - 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\/update-18-10-2024-2\/","og_locale":"en_US","og_type":"article","og_title":"UPDATE - 18.10.2024 - integrae.it \u2013 Financial Boutique","og_description":"Revenue for 1H24A stands at \u20ac10.55 million, a decrease of 19.3% compared to \u20ac13.08 million in 1H23A. 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