(Finance) – ValueTrack has lowered to 7.40 euros per share (6.80 euros fully diluted) from the previous 8.00 euros per share (7.3 euros fully diluted) on fair value on the title Gismondi 1754, a Genoese company active in the production of high-end jewelery and listed on Euronext Growth Milan. The revised recommendation came after the company reported its first-half 2023 results.
Since the first half represents around 40% of the financial year’s financial data and since there is a relatively high volatility typical of prestigious jewels and special sales, analysts say it is particularly difficult to get clear directions for future quarters.
ValueTrack decided to refine estimates due to growing uncertainty of the Hard Luxury sector (the stock market continues to wonder about the 2023 Christmas season and the prospects for 2024). However, the forecasts are only slightly affected, as Gismondi 1754’s high-end positioning and strong business development are expected mitigate the sector’s outlook.
In 2025 ValueTrack now expects: Production value at 27.7 million euros, or CAGR22-25 at 22%; EBITDA at 4.7 million euros (EBITDA Margin of approximately 17%); net debt at 4.2 million euros, strong expansion of POS.