ARNOLDO MONDADORI EDITORE S.P.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.26 EUR | +2.49% |
|
+4.39% | +5.36% |
| Apr. 24 | Mondadori renews board of directors; Marina Berlusconi confirmed as chairman | AN |
| Apr. 16 | Milan black jersey; Eurozone widens surplus | AN |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 535.6 | 392 | 532 | 471.1 | 558.4 | 588 | - | - |
| Enterprise Value (EV) 1 | 591 | 490.2 | 711.1 | 648.5 | 558.4 | 722.6 | 688 | 653.8 |
| P/E ratio | 19.1 x | 88.8 x | 12 x | 9.04 x | 8.94 x | 9.15 x | 8.76 x | 8.32 x |
| Yield | 2.91% | - | 4.17% | - | - | 5.89% | 6.53% | 7.19% |
| Capitalization / Revenue | 0.61 x | 0.53 x | 0.66 x | 0.52 x | 0.62 x | 0.63 x | 0.61 x | 0.6 x |
| EV / Revenue | 0.67 x | 0.66 x | 0.88 x | 0.72 x | 0.62 x | 0.78 x | 0.72 x | 0.67 x |
| EV / EBITDA | 6.25 x | 5 x | 6.73 x | 4.76 x | 3.67 x | 4.64 x | 4.28 x | 3.96 x |
| EV / FCF | 9.87 x | 6.16 x | 13.6 x | - | - | 10.9 x | 9.57 x | 8.84 x |
| FCF Yield | 10.1% | 16.2% | 7.33% | - | - | 9.17% | 10.5% | 11.3% |
| Price to Book | 3.13 x | 2.27 x | 2.42 x | - | - | 1.78 x | 1.62 x | 1.47 x |
| Nbr of stocks (in thousands) | 260,020 | 259,573 | 260,788 | 260,545 | 260,310 | 260,181 | - | - |
| Reference price 2 | 2.060 | 1.510 | 2.040 | 1.808 | 2.145 | 2.260 | 2.260 | 2.260 |
| Announcement Date | 3/17/20 | 3/18/21 | 3/16/22 | 3/16/23 | 3/14/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 884.9 | 744 | 807.3 | 903 | 904.7 | 927.8 | 956.2 | 974.7 |
| EBITDA 1 | 94.5 | 98.1 | 105.7 | 136.3 | 152.1 | 155.7 | 160.8 | 165.2 |
| EBIT 1 | 68.6 | 56.9 | 59.8 | 78.3 | 84.2 | 97.02 | 100.3 | 103.8 |
| Operating Margin | 7.75% | 7.65% | 7.41% | 8.67% | 9.31% | 10.46% | 10.49% | 10.65% |
| Earnings before Tax (EBT) 1 | 51.7 | 1.5 | 38.6 | 66.9 | 80.5 | 87.65 | 91.52 | 95.74 |
| Net income 1 | 29.3 | 4.5 | 44.2 | 52.1 | 62.4 | 65.17 | 68.54 | 71.81 |
| Net margin | 3.31% | 0.6% | 5.48% | 5.77% | 6.9% | 7.02% | 7.17% | 7.37% |
| EPS 2 | 0.1080 | 0.0170 | 0.1700 | 0.2000 | 0.2400 | 0.2470 | 0.2580 | 0.2717 |
| Free Cash Flow 1 | 59.89 | 79.54 | 52.1 | - | - | 66.28 | 71.92 | 73.95 |
| FCF margin | 6.77% | 10.69% | 6.45% | - | - | 7.14% | 7.52% | 7.59% |
| FCF Conversion (EBITDA) | 63.37% | 81.08% | 49.29% | - | - | 42.56% | 44.73% | 44.76% |
| FCF Conversion (Net income) | 204.39% | 1,767.6% | 117.87% | - | - | 101.69% | 104.94% | 102.98% |
| Dividend per Share 2 | 0.0600 | - | 0.0850 | - | - | 0.1332 | 0.1475 | 0.1625 |
| Announcement Date | 3/17/20 | 3/18/21 | 3/16/22 | 3/16/23 | 3/14/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 268.5 | 218.4 | 153.1 | 202 | 355.1 | 323.1 | 224.8 | 160 | 202.4 | 362.4 | 317.6 | 224.8 | 164 |
| EBITDA 1 | 87.1 | 63.5 | 20.7 | -1.1 | 28.7 | 27.6 | 87.9 | 20.8 | 4.4 | 33.8 | 38.2 | 91.1 | 22.8 | 4.6 |
| EBIT 1 | - | 51.8 | 3.2 | -12.28 | 15.5 | 3.2 | 74.8 | - | -8.245 | 22.2 | 14 | 76.5 | -6.3 | -9.1 |
| Operating Margin | - | 19.29% | 1.47% | -8.02% | 7.67% | 0.9% | 23.15% | - | -5.15% | 10.97% | 3.86% | 24.09% | -2.8% | -5.55% |
| Earnings before Tax (EBT) | 32.4 | - | - | - | - | - | 75.3 | - | - | 21.1 | 12.3 | - | - | - |
| Net income | 29.5 | 45 | -5.2 | -11.41 | 14.2 | 2.8 | 55.5 | -6.2 | -5.2 | 17.4 | 12.2 | 54.1 | -3.9 | - |
| Net margin | - | 16.76% | -2.38% | -7.45% | 7.03% | 0.79% | 17.18% | -2.76% | -3.25% | 8.6% | 3.37% | 17.03% | -1.73% | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/18/21 | 11/11/21 | 3/16/22 | 5/12/22 | 7/28/22 | 7/28/22 | 11/10/22 | 3/16/23 | 5/10/23 | 8/1/23 | 8/1/23 | 11/8/23 | 3/14/24 | - |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 55.4 | 98.2 | 179 | 177 | - | 135 | 100 | 65.8 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.5862 x | 1.001 x | 1.694 x | 1.302 x | - | 0.8645 x | 0.622 x | 0.398 x |
| Free Cash Flow 1 | 59.9 | 79.5 | 52.1 | - | - | 66.3 | 71.9 | 74 |
| ROE (net income / shareholders' equity) | 18.1% | 27.2% | 28.9% | - | - | 22.1% | 21% | 21.1% |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 0.6600 | 0.6600 | 0.8400 | - | - | 1.270 | 1.390 | 1.540 |
| Cash Flow per Share 2 | 0.3300 | 0.3200 | 0.3700 | - | - | 0.4100 | - | - |
| Capex 1 | 18.4 | 4.36 | 8.6 | - | - | 37.5 | 38.2 | 39 |
| Capex / Sales | 2.08% | 0.59% | 1.07% | - | - | 4.04% | 3.99% | 4% |
| Announcement Date | 3/17/20 | 3/18/21 | 3/16/22 | 3/16/23 | 3/14/24 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
2.26
EUR
Average target price
3.07
EUR
Spread / Average Target
+35.84%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +5.36% | 628M | |
| +6.93% | 2.89B | |
| +10.09% | 2.71B | |
| +9.95% | 2.58B | |
| -5.84% | 2.53B | |
| -4.43% | 2.48B | |
| -8.79% | 1.94B | |
| +1.44% | 1.93B | |
| +4.83% | 1.44B | |
| -25.89% | 1.06B |
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