Bifire rises on the stock market after better-than-expected accounts

Bifire rises on the stock market after better than expected accounts

(Finance) – Positive start in Piazza Affari for the title Bifirea company listed on Euronext Growth Milan and active in the production of materials for fire protection and thermal insulation in the construction and industrial sectors, after yesterday afternoon announcing that it had closed the 2023 with a Record Net Profit of 7.8 million euros, with a jump of 45.8% compared to the previous year.
The analysts of Alantra they write that the 2023 results were 7% better at the EBITDA level compared to the preliminary results published last February. “We reiterate our opinion on one solid set of results in 2H23, beating our estimates across the boardthanks to an acceleration of the back-end business during the last part of the year – we read in a note – This could be partly attributable to the success of the advertising campaign on Mediaset television channels and the introduction of new products” .

The broker recalls that its estimates for 2023 incorporated the impact of the progressive elimination of tax incentive schemes, which negatively affected the entire sector. Despite this challenge, Bifire has managed to increase its revenues and profitability, outperforming the market. “We believe our phase-out assumptions remain relevant in the near term, moving the uncertainties of the reference market to 1H24 – it is underlined – The cuts in interest rates could represent a favorable factor for the second part of the year”.

Good performance BifireThat it stands at 3.66 euroswith a increase of 3.39% and a value of around 70 thousand euros in the first 25 minutes of trading. At an operational level, a continuation of the bullish session is expected with resistance seen at 3.687 and subsequently at 3.747. Support at 3.627.