(Finance) – Antares Visiona company listed on Euronext STAR Milan and active in the sector of quality control and product traceability, presented the Industrial Plan 2024-2026. It expects a revenue growth CAGR of 4/6%, combined with an EBITDA CAGR of 47/55% and positive cash conversion leading to a 2026 NET DEBT/EBITDA of less than 1.7x.
“The 2024-2026 Strategic Plan is based on a new organizational model based on four distinct CGUs (Cash Generating Units), supported by a new and more detailed financial and management reporting model – commented the CEO Gianluca Mazzantini – All aimed at strengthening the Group’s internal synergies, thanks to the restructuring of processes and organisation”.
“The growth strategy of Antares Vision Group – he explained – will be implemented following three strategic pillars: 1) continue and increase focus on existing markets with a more selective approach to opportunities, 2) establish greater discipline on costs also thanks to internal reorganization and an acceleration of product delivery times, with the clear objective of improving margins, 3) restore and incentivize cash generation”.
Going into detail, i main growth drivers are: consolidation of the market position by exploiting the growth trends of the reference markets; accelerating growth in services, increasing penetration into existing customers with an improved offering; refocusing of the inspection machine business, through greater expansion in the North American market; acceleration of delivery times for T&T products, through product standardization and simplification and acceleration of internal processes; new growth initiatives, continuing to invest in the development of software solutions – Saas / Smart Data and in technological innovation and exploring new use cases.
A focus is cost discipline and improving margins, through: optimization of pricing strategies, to protect the value of products; cost reduction, through centralization of purchases, reduction of expenses for external services and efficiency of the organizational structure; greater saturation of internal staff, concentrating activity on remunerated and profitable orders; containment of the growth of fixed costs, through a new operational model for performance control and a new organizational model, in order to promote cost control.
The restoration of cash generation will be pursued through: optimization of working capital, acting on all its components; focus of the organization on cash generation, through the implementation of adequate incentive systems; more balanced distribution of sales over the year, improving and accelerating planning and production, also thanks to product standardization.
From a financial point of view, over the period 2024-2026, Antares Vision expects revenues consolidated on a like-for-like basis, i.e. including acquisitions completed up to 2023 in the scope and comparison data, grow at an average rate (CAGR) of +4/6%, in line with the expected evolution of the markets in which the group operates . As regards margins, at the end of 2026 the management expects a Adjusted EBITDA Margin between 17.5 and 19.5%, and equal to 11.5/14% for 2024, compared to the 6.2% recorded in 2023. Consequently, Adjusted EBITDA is expected to grow at average rate (CAGR) between 47 and 55%, fully exploiting the operating leverage thanks to careful cost control. A. is expected Capex annual equal to 15/17 million, compared to the 25.8 million invested in 2023. Finally, in 2026 it is expected that the ratio NET DEBT/EBITDA is less than 1.7x vs. 7.8x at the end of 2023. Specifically, management estimates that at the end of 2024 this ratio could be between 4.1x and 3.3x.
(Photo: Carrie Allen www.carrieallen.com on Unsplash)