Financials Buzzi S.p.A. Wiener Boerse

Equities

BZU

IT0001347308

Construction Materials

Real-time Estimate Tradegate 13:40:31 2024-05-16 EDT 5-day change 1st Jan Change
39.15 EUR +0.38% Intraday chart for Buzzi S.p.A. +11.49% +40.79%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,259 3,749 3,646 3,332 5,099 7,293 - -
Enterprise Value (EV) 1 4,827 3,990 3,410 3,044 5,099 5,996 5,439 4,786
P/E ratio 12 x 7.17 x 6.73 x 7.31 x 5.27 x 8.4 x 8.03 x 7.74 x
Yield 0.67% 1.28% 2.11% 2.5% - 1.79% 1.95% 1.98%
Capitalization / Revenue 1.32 x 1.16 x 1.06 x 0.83 x 1.18 x 1.68 x 1.64 x 1.59 x
EV / Revenue 1.5 x 1.24 x 0.99 x 0.76 x 1.18 x 1.38 x 1.22 x 1.04 x
EV / EBITDA 6.85 x 5.08 x 4.28 x 3.44 x 4.1 x 4.88 x 4.31 x 3.68 x
EV / FCF 14.8 x 10.9 x 9.04 x 23.8 x - 9.06 x 8.06 x 6.35 x
FCF Yield 6.74% 9.17% 11.1% 4.2% - 11% 12.4% 15.7%
Price to Book 1.26 x 1.11 x 0.84 x 0.68 x - 1.17 x 1.04 x 0.94 x
Nbr of stocks (in thousands) 205,300 205,521 192,132 185,132 185,132 185,097 - -
Reference price 2 22.45 19.50 18.98 18.00 27.54 39.40 39.40 39.40
Announcement Date 3/25/20 3/25/21 3/25/22 3/29/23 3/28/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,221 3,222 3,446 3,996 4,318 4,354 4,450 4,595
EBITDA 1 704.4 785 795.9 883.7 1,243 1,229 1,262 1,301
EBIT 1 472.2 528.1 546.9 503.5 984.8 961.5 990.6 1,019
Operating Margin 14.66% 16.39% 15.87% 12.6% 22.81% 22.08% 22.26% 22.18%
Earnings before Tax (EBT) 1 482 700.3 635.3 589.3 1,141 1,131 1,172 1,220
Net income 1 385.7 560.2 541.9 458.8 966.5 868.6 901.9 919.1
Net margin 11.97% 17.39% 15.73% 11.48% 22.39% 19.95% 20.27% 20%
EPS 2 1.878 2.719 2.820 2.462 5.221 4.691 4.906 5.093
Free Cash Flow 1 325.5 365.9 377.3 128 - 662.2 675.1 753.7
FCF margin 10.1% 11.36% 10.95% 3.2% - 15.21% 15.17% 16.4%
FCF Conversion (EBITDA) 46.2% 46.61% 47.41% 14.48% - 53.88% 53.5% 57.93%
FCF Conversion (Net income) 84.39% 65.31% 69.63% 27.9% - 76.24% 74.85% 82%
Dividend per Share 2 0.1500 0.2500 0.4000 0.4500 - 0.7044 0.7684 0.7795
Announcement Date 3/25/20 3/25/21 3/25/22 3/29/23 3/28/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 S2 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2
Net sales 1 1,703 1,520 1,702 1,609 903.9 1,837 800.1 1,080 1,880 1,124 2,116 1,194 2,150 1,153 1,015 2,168
EBITDA 428.1 313.9 471.1 352.5 - 443.4 - - 365 - 518.6 - 575.3 - - 667.9
EBIT 306.6 185.5 - 229.7 - - - - 118.1 - - - 447.1 - - 537.7
Operating Margin 18.01% 12.2% - 14.28% - - - - 6.28% - - - 20.8% - - 24.8%
Earnings before Tax (EBT) 311.2 279.4 - 262.1 - - - - 119.8 - - - 552.9 - - 588
Net income 251.1 216.5 - 209.6 - - - - 88.64 - - - 431.1 - - 535.4
Net margin 14.74% 14.24% - 13.03% - - - - 4.72% - - - 20.05% - - 24.7%
EPS - - - - - - - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - - - - -
Announcement Date 3/25/20 8/4/20 3/25/21 8/3/21 3/25/22 3/25/22 5/12/22 8/5/22 8/5/22 11/8/22 3/29/23 8/3/23 8/3/23 11/10/23 3/28/24 3/28/24
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 568 242 - - - - - -
Net Cash position 1 - - 236 288 - 1,297 1,854 2,507
Leverage (Debt/EBITDA) 0.8061 x 0.3078 x - - - - - -
Free Cash Flow 1 325 366 377 128 - 662 675 754
ROE (net income / shareholders' equity) 11.3% 15.4% 13.6% 9.89% - 14.7% 13.4% 12.6%
ROA (Net income/ Total Assets) 6.39% 8.76% 8.14% 6.36% - 12.3% 11.5% 11.4%
Assets 1 6,038 6,395 6,654 7,213 - 7,048 7,842 8,059
Book Value Per Share 2 17.90 17.50 22.70 26.50 - 33.70 37.70 41.80
Cash Flow per Share 2 2.810 2.860 3.080 2.120 - 5.950 7.270 7.150
Capex 1 250 223 214 267 - 379 382 389
Capex / Sales 7.76% 6.92% 6.22% 6.68% - 8.71% 8.59% 8.47%
Announcement Date 3/25/20 3/25/21 3/25/22 3/29/23 3/28/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
39.4 EUR
Average target price
41.96 EUR
Spread / Average Target
+6.49%
Consensus

Quarterly revenue - Rate of surprise

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