(Finance) – Tamburi Investment Partners (TIP), an independent investment-merchant bank listed on Euronext STAR Milan, closed i first nine months of 2022 with a consolidated pro forma profit of over 122.7 million and with shareholders’ equity of over € 1.14 billion, after dividend distributions of over € 20 million in the period and the purchase of treasury shares for a further € 16.9 million. The earnings from associated equity investments contributed more than 43 million; the capital gain on the sale of BE for approximately 100 million.
“Sorry to note – the company states in the note on the accounts – that theTIP’s current price is so inexplicably depressed. With analysts’ target price between 12 and 13 euros per share, with implicit capital gains that at the current market prices of listed subsidiaries well exceed one billion euros but which are around two billion if we consider the Intrinsic Net Value level. current stock market price seems to us very penalizing. This is why we insist on the buy back and we believe that it is an excellent way to continue investing the liquidity in the portfolio “.
With reference to the outlook, “the total inconsistency between the performance of TIP subsidiaries and the general climate that reigns, not only in Italy, is highlighted. it is likely that 2022 will close, for TIP and for almost all the subsidiaries, with record results“.