Financials IRCE S.p.A.

Equities

IRC

IT0001077780

Electrical Components & Equipment

Market Closed - Borsa Italiana Other stock markets 11:44:59 2024-04-26 EDT			5-day change	1st Jan Change
2.19 ^EUR	+1.39%		+1.39%	+11.17%

03-19	Futures passive; BoJ abandons negative rates.	AN
03-18	Milan at parity; De Nora on bottom after accounts	AN

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	47.47	44.92	82.81	52.82	52.21	57.98	-
Enterprise Value (EV) ¹	89.5	84.66	147.1	112.7	52.21	123.4	130.6
P/E ratio	24.5 x	16.4 x	8.84 x	5.72 x	6.35 x	7.32 x	5.12 x
Yield	1.68%	1.78%	1.6%	3.02%	-	2.74%	2.74%
Capitalization / Revenue	0.15 x	0.15 x	0.18 x	0.12 x	0.13 x	0.14 x	0.13 x
EV / Revenue	0.29 x	0.29 x	0.32 x	0.25 x	0.13 x	0.3 x	0.29 x
EV / EBITDA	11.4 x	7.88 x	6.34 x	5.82 x	2.44 x	5.41 x	4.8 x
EV / FCF	4.61 x	29.8 x	-6.28 x	28 x	-	-3.25 x	-23.8 x
FCF Yield	21.7%	3.35%	-15.9%	3.57%	-	-30.8%	-4.21%
Price to Book	0.36 x	0.37 x	0.77 x	0.36 x	-	0.38 x	0.36 x
Nbr of stocks (in thousands)	26,596	26,580	26,543	26,542	26,504	26,474	-
Reference price ²	1.785	1.690	3.120	1.990	1.970	2.190	2.190
Announcement Date	20-03-13	21-03-16	22-03-15	23-03-15	24-03-15	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	312.9	295.3	457.1	454.7	402.8	417	450
EBITDA ¹	7.82	10.75	23.2	19.37	21.37	22.82	27.22
EBIT ¹	2.15	3.2	14.36	11.55	14.42	15.53	19.49
Operating Margin	0.69%	1.08%	3.14%	2.54%	3.58%	3.72%	4.33%
Earnings before Tax (EBT) ¹	2.723	4.293	14.16	10.3	12.47	10.53	16.49
Net income ¹	1.942	2.726	9.376	9.204	8.226	8.42	12.04
Net margin	0.62%	0.92%	2.05%	2.02%	2.04%	2.02%	2.68%
EPS ²	0.0730	0.1030	0.3530	0.3480	0.3100	0.2990	0.4280
Free Cash Flow ¹	19.42	2.839	-23.43	4.02	-	-38	-5.5
FCF margin	6.21%	0.96%	-5.12%	0.88%	-	-9.11%	-1.22%
FCF Conversion (EBITDA)	248.39%	26.41%	-	20.75%	-	-	-
FCF Conversion (Net income)	1,000.12%	104.16%	-	43.68%	-	-	-
Dividend per Share ²	0.0300	0.0300	0.0500	0.0600	-	0.0600	0.0600
Announcement Date	20-03-13	21-03-16	22-03-15	23-03-15	24-03-15	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q3	2022 Q4
Net sales	-	-
EBITDA ¹	-	7.04
EBIT ¹	-	5.439
Operating Margin	-	-
Earnings before Tax (EBT)	-	-
Net income	0.8	-
Net margin	-	-
EPS	0.0302	-
Dividend per Share	-	-
Announcement Date	22-11-14	23-03-15

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	42	39.7	64.3	59.9	-	65.4	72.7
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	5.375 x	3.697 x	2.771 x	3.093 x	-	2.865 x	2.669 x
Free Cash Flow ¹	19.4	2.84	-23.4	4.02	-	-38	-5.5
ROE (net income / shareholders' equity)	1.47%	2.14%	7.35%	6.65%	-	5.4%	7.3%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	4.960	4.620	4.030	5.470	-	5.700	6.100
Cash Flow per Share	0.3400	0.1900	-0.5900	0.6700	-	-	-
Capex ¹	6.07	2.14	7.7	13.6	-	32	10
Capex / Sales	1.94%	0.72%	1.68%	3%	-	7.67%	2.22%
Announcement Date	20-03-13	21-03-16	22-03-15	23-03-15	24-03-15	-	-

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 IRCE S.p.A.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.19 EUR

Average target price

3 EUR

Spread / Average Target

+36.99%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Wires & Cables

	1st Jan change	Capi.
IRCE S.P.A.	+11.17%	61.9M
PRYSMIAN S.P.A.	+24.31%	14.91B
NEXANS	+25.17%	4.62B
WALSIN LIHWA CORPORATION	-4.79%	4.55B
ENCORE WIRE CORPORATION	+33.38%	4.5B
KEI INDUSTRIES LIMITED	+19.84%	4.22B
RIYADH CABLES GROUP COMPANY	+2.81%	3.8B
NINGBO ORIENT WIRES & CABLES CO.,LTD.	-8.68%	3.71B
LS CORP.	+37.12%	2.55B
R R KABEL LIMITED	+7.02%	2.27B

Wires & Cables