Financials Relatech S.p.A.

Equities

Market Closed - Borsa Italiana Other stock markets 11:44:59 2024-05-09 EDT			5-day change	1st Jan Change
2 ^EUR	-0.99%		0.00%	-5.21%

04-18	Relatech S.p.A. completed the acquisition of Dialog Sistemi Srl from Francesco Fantuzzi and others.	CI
03-28	Relatech S.p.A. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	21.42	79.3	103	87	89.14	85.44	-	-
Enterprise Value (EV) ¹	20.33	77.12	101.3	102.2	89.14	99.54	86.39	76.34
P/E ratio	-	37.5 x	31.1 x	52 x	-	10.1 x	7.45 x	6.52 x
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	1.01 x	3.26 x	2.77 x	1.24 x	0.91 x	0.85 x	0.71 x	0.69 x
EV / Revenue	0.95 x	3.17 x	2.73 x	1.46 x	0.91 x	0.99 x	0.72 x	0.62 x
EV / EBITDA	4.13 x	13.1 x	13.9 x	7.75 x	5.54 x	5.08 x	3.57 x	2.85 x
EV / FCF	16.4 x	12.1 x	-266 x	11.4 x	-	11.4 x	9 x	5.61 x
FCF Yield	6.1%	8.29%	-0.38%	8.78%	-	8.74%	11.1%	17.8%
Price to Book	-	18.6 x	4.46 x	-	-	1.74 x	1.39 x	-
Nbr of stocks (in thousands)	28,005	31,718	36,786	41,825	42,247	42,298	-	-
Reference price ²	0.7650	2.500	2.800	2.080	2.110	2.020	2.020	2.020
Announcement Date	20-04-07	21-03-24	22-03-29	23-03-28	24-03-28	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	21.32	24.34	37.17	70	98.48	100.6	119.7	123.8
EBITDA ¹	4.921	5.898	7.303	13.18	16.08	19.6	24.2	26.8
EBIT ¹	4.278	4.105	4.079	8.7	9.496	12.8	17.2	19.3
Operating Margin	20.07%	16.86%	10.98%	12.43%	9.64%	12.72%	14.37%	15.59%
Earnings before Tax (EBT) ¹	3.75	3.356	3.295	4.545	6.16	11.4	16.2	18.2
Net income ¹	2.534	2.551	3.703	1.659	3.558	8.6	11.65	13.2
Net margin	11.89%	10.48%	9.96%	2.37%	3.61%	8.55%	9.73%	10.66%
EPS ²	-	0.0667	0.0900	0.0400	-	0.2000	0.2710	0.3100
Free Cash Flow ¹	1.24	6.391	-0.3802	8.971	-	8.7	9.6	13.6
FCF margin	5.82%	26.25%	-1.02%	12.82%	-	8.65%	8.02%	10.99%
FCF Conversion (EBITDA)	25.2%	108.37%	-	68.05%	-	44.39%	39.67%	50.75%
FCF Conversion (Net income)	48.93%	250.55%	-	540.74%	-	101.16%	82.4%	103.03%
Dividend per Share	-	-	-	-	-	-	-	-
Announcement Date	20-04-07	21-03-24	22-03-29	23-03-28	24-03-28	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	15.2	-	14.1	0.95	-
Net Cash position ¹	1.09	2.17	1.71	-	-	-	-	9.1
Leverage (Debt/EBITDA)	-	-	-	1.155 x	-	0.7194 x	0.0393 x	-
Free Cash Flow ¹	1.24	6.39	-0.38	8.97	-	8.7	9.6	13.6
ROE (net income / shareholders' equity)	-	24%	20.7%	5.9%	-	19.4%	21.1%	19.3%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	-	0.1300	0.6300	-	-	1.160	1.460	-
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	1.96	0.59	9.05	28.8	-	8.4	7.8	6.6
Capex / Sales	9.2%	2.42%	24.35%	41.15%	-	8.35%	6.52%	5.33%
Announcement Date	20-04-07	21-03-24	22-03-29	23-03-28	24-03-28	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.02 EUR

Average target price

4.055 EUR

Spread / Average Target

+100.74%

	1st Jan change	Capi.
RELATECH S.P.A.	-5.21%	91.82M
SALESFORCE.COM, INC.	+4.28%	271B
CLOUDFLARE, INC.	-11.68%	24.62B
DYNATRACE, INC.	-15.33%	13.64B
QUALYS, INC.	-23.24%	5.53B
KINGDEE INTERNATIONAL SOFTWARE GROUP COMPANY LIMITED	-18.37%	4.05B
IONOS GROUP SE	+39.75%	3.58B
DIGITALOCEAN HOLDINGS, INC.	-10.55%	3.07B
ALKAMI TECHNOLOGY, INC.	+8.82%	2.59B
BEIJING SINNET TECHNOLOGY CO.,LTD	-5.66%	2.26B