(Finance) – Integrae SIM has lowered to 7.10 euros per share (from 7.80 euros) the target price on Siava company listed on Euronext Growth Milan and active in the Enterprise Content Management sector, confirming the judgment on the title to “Buy” given the potential upside of 95%. The revision of the recommendation came after the company reported its first half 2023 results.
In light of the results published in the semi-annual report for 1H23, analysts have changed the estimates both for the current year and for the next few years. In particular, we estimate production value FY23 equal to 36.80 million euros and an EBITDA equal to 5.65 million euros, corresponding to a margin of 15.4%.
For the following yearsthey expect the value of production to increase up to 48.05 million euros (CAGR 22-25: 12.5%) in FY25, with EBITDA equal to 12.25 million euros (corresponding to a margin of 25, 5%), up compared to 5.83 million euros in FY22 (corresponding to an EBITDA margin of 17.3%).
(Photo: © Veerasak Piyawatanakul)