Financials Intred S.p.A.

Equities

ITD

IT0005337818

Integrated Telecommunications Services

Market Closed - Borsa Italiana Other stock markets 11:44:59 2024-05-15 am EDT			5-day change	1st Jan Change
9.98 ^EUR	0.00%		-0.70%	-9.27%

May. 07	Intred, revenues grow by double-digit percent in first quarter	AN
Apr. 19	ITALY GROWTH WINNERS & LOSERS: Medica bullish; Plants in the red.	AN

Valuation

Fiscal Period: December	2021	2022	2024	2025	2026
Capitalization ¹	299.6	229.3	158.4	-	-
Enterprise Value (EV) ¹	294.2	240.8	186.8	183.9	176.4
P/E ratio	34.8 x	26.4 x	23.5 x	20.9 x	17.9 x
Yield	-	0.48%	0.81%	0.87%	0.96%
Capitalization / Revenue	7.4 x	5.04 x	2.74 x	2.46 x	2.22 x
EV / Revenue	7.27 x	5.29 x	3.23 x	2.86 x	2.47 x
EV / EBITDA	16.7 x	12.1 x	7.79 x	6.78 x	5.76 x
EV / FCF	14.3 x	-14.6 x	-58.4 x	39 x	18.7 x
FCF Yield	7.01%	-6.84%	-1.71%	2.57%	5.35%
Price to Book	-	4.78 x	2.65 x	2.42 x	2.18 x
Nbr of stocks (in thousands)	15,851	15,865	15,873	-	-
Reference price ²	18.90	14.45	9.980	9.980	9.980
Announcement Date	3/28/22	3/27/23	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2020	2021	2022	2024	2025	2026
Net sales ¹	-	40.46	45.52	57.88	64.35	71.35
EBITDA ¹	-	17.6	19.9	23.97	27.1	30.63
EBIT ¹	-	-	12.16	11.27	12.97	15.3
Operating Margin	-	-	26.72%	19.46%	20.15%	21.44%
Earnings before Tax (EBT) ¹	8.181	-	12.18	10	11.65	14.65
Net income ¹	6.111	8.62	8.675	7	8.117	9.85
Net margin	-	21.31%	19.06%	12.09%	12.61%	13.81%
EPS ²	-	0.5439	0.5468	0.4240	0.4785	0.5580
Free Cash Flow ¹	-	20.63	-16.48	-3.2	4.717	9.433
FCF margin	-	51%	-36.2%	-5.53%	7.33%	13.22%
FCF Conversion (EBITDA)	-	117.23%	-	-	17.4%	30.79%
FCF Conversion (Net income)	-	239.34%	-	-	58.11%	95.77%
Dividend per Share ²	-	-	0.0700	0.0810	0.0870	0.0960
Announcement Date	7/22/21	3/28/22	3/27/23	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 S1	2022 S2	2023 S1
Net sales ¹	23.35	22.17	24.7
EBITDA	-	-	-
EBIT	-	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	6.032	-
Net income ¹	4.267	4.408	3.901
Net margin	18.28%	19.88%	15.79%
EPS	-	-	-
Dividend per Share	-	-	-
Announcement Date	9/30/22	3/27/23	9/27/23

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2020	2021	2022	2024	2025	2026
Net Debt ¹	-	-	11.5	28.4	25.4	18
Net Cash position ¹	-	5.41	-	-	-	-
Leverage (Debt/EBITDA)	-	-	0.5795 x	1.183 x	0.9387 x	0.5864 x
Free Cash Flow ¹	-	20.6	-16.5	-3.2	4.72	9.43
ROE (net income / shareholders' equity)	-	-	19.7%	11.3%	11.5%	12.1%
ROA (Net income/ Total Assets)	-	-	8.19%	4.9%	5.2%	5.5%
Assets ¹	-	-	105.9	142.9	156.1	179.1
Book Value Per Share ²	-	-	3.030	3.770	4.130	4.570
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	-	-	39.3	26.6	18.7	17
Capex / Sales	-	-	86.43%	45.92%	29.01%	23.78%
Announcement Date	7/22/21	3/28/22	3/27/23	-	-	-

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

Ratings for Intred S.p.A.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

9.98 EUR

Average target price

18.33 EUR

Spread / Average Target

+83.70%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Integrated Telecommunications Services

	1st Jan change	Capi.
INTRED S.P.A.	-9.27%	171M
CHINA MOBILE LIMITED	+13.73%	206B
VERIZON COMMUNICATIONS	+7.40%	170B
DEUTSCHE TELEKOM AG	+1.70%	118B
NIPPON TELEGRAPH AND TELEPHONE CORPORATION	-9.05%	85.74B
CHINA TELECOM CORPORATION LIMITED	+18.45%	71.41B
AMÉRICA MÓVIL, S.A.B. DE C.V.	+6.73%	61.6B
SAUDI TELECOM COMPANY	-6.19%	50.57B
CHARTER COMMUNICATIONS, INC.	-30.08%	40.06B
EMIRATES TELECOMMUNICATIONS GROUP COMPANY	-17.52%	39.07B

Other Integrated Telecommunications Services