(Telestock) – Weak session at Piazza Affari For Danielsa group listed on Euronext Milan and one of the world’s largest producers of machinery and equipment for the metallurgical industry, which nevertheless recovered from the lows of the day recorded at the opening, after the publication of the balance sheet as of 30 June 2024 yesterday evening. The financial year closed with revenues at 4.350 million euros (+6% YoY), EBITDA at 391 million euros (-8%), net profit at 241 million euros (-1% YoY).
FY24 results were below expectations due to the split Steel makingcomment Equitywho on the contrary appreciated the numbers of the division Plant making which shows an EBITDA higher than expected, with a significant progression in margins despite significant prudential provisions.
“Plant-making has confirmed a solid growth path with expanding margins and the ability to take on high orders even in a more challenging context for the steel sector – the research reads – Although we understand the uncertainty linked to the cyclicality of Steel-making, we think that the current ratings (PE below 8x at historic lows) are unjustified for one of the main beneficiaries of the mega trend of the green transition of steel”.
Banca Akros instead underlines the “drastic” reduction in profitability in the Steel Making division and the 2024/2025 guidance below consensus.
In red the Friulian multinationalwith a 1.75% drop, bringing it to 28 euros. Expected for the rest of the session an extension of the bearish phase with support area seen at 26.95 and then at 25.9. Resistance at 28.7.