(Finance) – Analysts have promoted the first quarter record of Propellera company listed on Euronext STAR Milan and active in the production of kitchen hoods and extractor hobs, with the period to March 31st which recorded revenues of 144 million euros, up 5.1% compared to the same period of the year previous (+ 5.7% organic).
Equity talk about a Q1 “better than expected especially for the resilience of margins”, with the “organic growth in sales slightly higher than expected (+ 5.7% vs + 5% expected) and in quality thanks to the market share gain of own-brand brands (Elica brands + 17% organic in a market context with slightly negative volumes in EMEA) and the favorable price / mix “. The good stability of margins is also highlighted, thanks to efficiencies and positive operating leverage, which more than offset 18 million headwinds (raw materials / logistics). “There good execution in a difficult environment combined with the appeal from M&A (cooking high-end in the US) lead us to confirm our recommendation “, write the analysts. Equita has a Buy rating with a target price of € 3.9 per share.
Intermonte confirmed the Buy judgment with a target price of € 4.9 per share, in light of the guidelines and unchanged forecasts, on which “visibility now appears higher after the company beat first-quarter 2020 data. “Analysts pointed out that management” once again confirmed its ability to maintain price increases and control over fixed costs in the 1st quarter, both crucial factors for achieving its renewed guidance for the year 2022 and subsequently achieving the target of a medium-term Adjusted EBIT margin of 7.5% -8% “.