(Finance) – Bank Profile confirmed the recommendation (Buy) and lowered the target price (to 32.5 euros per share from the previous 35.8 euros) on the stock Riba Mundo Tecnologíaa tech company specializing in Big Bata active in the B2B segment of consumer electronics and listed on Euronext Growth Milan.
In light of the half-yearly results, analysts have revised the estimate downwards of the revenues for 2024 to 516 million euros, a decrease of 6% compared to the previous estimate of 547.7 million euros. This adjustment takes into account the lack of one-quarter consolidation of ePRICE and a more conservative growth outlook, which led to lowering the forecast CAGR for 2023-26 from 16.3% to 14.7%.
It is noted that gross margin has struggled to improve, leading to revisions to future margin growth; however, they expect some offsetting effect from better management of transportation costs, as the company has successfully passed on some costs to customers as of 2H24. They predict a EBITDA margin by 2.3% (unchanged) for 2024, equal to 11.9 million euros.
Other estimates remain essentially unchanged, with a net debt expected to decline to €30.7 million by the end of the year, compared to the previous estimate of €29.1 million, supported by effective working capital management.
(Photo: © Veerasak Piyawatanakul)