TECMA Solutions, Alantra confirms Buy and raises target price

TECMA Solutions Alantra confirms Buy and raises target price

(Finance) – Alantra has increased a 15 euros (from 10 euros) his target price up TECMA Solutionstech company specialized in the Real Estate sector and listed on Euronext Growth Milan, maintaining the judgement on the title a “BuyThe review of the recommendation comes after the company approved the budget 2021which closed with a Value of Production of € 13.2 million (up 64%), an EBITDA of € 2.2 million (compared to € 2 million in 2020) and a Net Result equal to to -0.4 million euros (down from 0.8 million euros).

“The top line of 2021 was slightly better than our estimate, while the EBITDA was in line – write the analysts – The strong order book paves the way for further growth of revenues. Margins, on the other hand, should be affected by investments in business development, reflecting Tecma’s commitment to medium / long-term growth “.

We don’t see similar actors with such a wide range of products, covered segments and geographical coverage – they add – Furthermore, Tecma Solutions has significantly raised the bar during 2021 (also thanks to the proceeds of the IPO), investing in three strategic directions: internationalization, new products and new business segments. The group has significantly strengthened its organizational structure to support the further expansion of the business “.

Alantra expects the company to close 2022 with a Production value of 21.5 million euros, a Adjusted EBITDA of 0.7 million euros and a Adjusted net profit of -1.2 million euros. These values ​​should increase in 2023, respectively, to 34.8 million euros, 4.5 million euros and 0.7 million euros. A further increase is then expected in 2024 to a Production Value of € 47.5 million, an EBITDA of € 11.6 million and an Adjusted net profit of € 5.4 million.

(Photo: by Samson Creative on Unsplash)

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