(Tiper Stock Exchange) – Equity expects second quarter 2023 of Italian Design Brands (IDB), the Italian pole of high quality furniture and design listed on Euronext Milan, has seen a slowdown compared to the first quarter, the result of more difficult comparison bases and a deteriorating market, but IDB expects to have continued to outperform the sector. This can be read in a research that anticipates the release of the results, scheduled for 11 September.
IDB is noted to trade at approximately 9x EV/EBIT and 10x PE, “very attractive valuations” and compared to other quality Italian names in the branded goods world (De’Longhi And Technogym at 12/14x EV/EBIT 2023) and against furniture companies listed abroad with much weaker market positioning and generally negative momentum.
Meanwhile, it is moving downwards Italian Design Brands with prices in line with 10.34 euros, for one drop of 2.27%. The greatest expectations see an extension of the decline towards the support area estimated at 10.25 and subsequent to 10.15. Resistance at 10.53.