Comal: successful completion of the capital increase in option
Comal S.p.A. (CML.MI), active in the solar energy generation sector, has successfully concluded its capital increase in option, raising a total of approximately €4.8 million. This operation aims to support Comal in building a factory for the production of innovative and high-efficiency photovoltaic modules in Abruzzo.
In this operation, Banca Profilo acted as Placing Agent.
For more details, visit the Investors section on Comal’s website and read the press release.
DEA debuts on the EGM market
We are pleased to announce that DEA – Distribuzione Elettrica Adriatica S.p.A., a company active in the distribution of electricity and management of public lighting in the regions of Marche, Abruzzo, and Liguria, has been admitted by Borsa Italiana for trading of ordinary shares and warrants on the EGM market.
In this operation, Banca Profilo assisted DEA as Euronext Growth Advisor, Global Coordinator, and Corporate Broker.
We wish DEA a future of success and growth in the prosperous and dynamic energy market!
The Future of Energy: The Role of Smart Grids
In the last 15 years, significant exogenous shocks (GFC, Covid, 2022 energy crisis) and a slower-than-expected electrification process have impacted energy demand. As a result, since 2008, electricity consumption has cumulatively decreased by 10%.
It is estimated that in the next 10 years, energy demand could exceed +50% for two main reasons: the rapid expansion of data centers, which are essentially physical structures that host servers used for AI technologies, and the launch of the REPowerEU plan to reduce energy dependence on imported fossil fuels.
In this process, the role of Smart Grids, intelligent networks that, thanks to the use of modern digital technology, are able to acquire new functionalities, will be fundamental to:
- Increase the resilience and security of electrical networks;
- Improve outage management;
- Promote more efficient energy management.
Check out the market analysis for the month of June by Lorenzo Fuscà, Head of Wealth Management, and Stefania Cardone, Investment Advisory at Banca Profilo.
EGM Analysis 1Q24
In 2024, the number of companies listed on the EGM remained unchanged, slightly above 200. There were 5 IPOs in the quarter, quite in line with last year when there were 8 IPOs and then 33 at the end of the year. Total capitalization fell below 9 billion euros, with an average of just under40 million.
Since the beginning of the year, the FTSE Italia Growth index continues to underperform both the FTSE Italia All-Share and the FTSE Italia STAR. Notably, EGM participated to a lesser extent in the October 2023 stock rally resulting from slowing inflationary pressure and the first signs of a reversal in monetary policy.
In 2023, the EGM companies confirmed their growth potential and good profitability: the average revenue growth was 22% and approximately 45% of the companies reported an EBITDA margin greater than 15%.
The pace of M&A operations remained high also in the first quarter with 18 deals (in line with 19 last year).
What are the growth and margin prospects for the next three years? Find out the report by Francesca Sabatini, Head of Equity Research, and Enrico Luca, CFA, Equity Research Analyst of Banca Profilo.
Markets: the Yen hits the historic lows
In the last month the Yen reached 160 against the dollar, a level that has not been recorded since 1990.
This has marked the arrival point of a long depreciation trend that finds its main causes in the divergence of monetary policy, in the different trajectories of economic growth and in the inflationary dynamics compared to the Western world.
If, in fact, in the post-Covid phase in the rest of the world the main central banks proceeded to raise rates to cope with inflationary pressures, in the country of the Rising Sun there was growth and low inflation, and an ultra-monetary policy accommodative, in contrast to that of the FED and the ECB. This environment has favoured carry trade operations, which have further weakened the yen.
The next key event will be the June meeting of the Bank of Japan (boj), where the central bank will have to take into account not only the dynamics of internal growth and inflation, but also the effects that higher interest rates could have on the cost of the country’s debt. You will need to wait for a clear signal from the boj before the Yen can catch up.
Take a look at the May market analysis by Lorenzo Fuscà, Head of Wealth Management and Emanuele Fino, CFA, Investment Advisory at Banca Profilo.
Tiny Titans Talk
With great pride, we present to you the new segment ‘Tiny Titans Talk,’ sharing some of the successful entrepreneurial stories from EGM (Euronext Growth Milan).
Why is their offering innovative? What are the strengths and competitive advantages? What are the challenges of 2024? All this and more can be found in the video interview conducted during the Spring Investor Conference of Banca Profilo.
In order of appearance, we thank: Alessandro Peveraro of HOMIZY, Marco Dezi of Riba Mundo Tecnología SA, Jean Michel Karam of MEMSCAP, Luisa Franceschetti of Saccheria F.lli Franceschetti S.p.A., Daniele Peli of INTRED S.p.A., Roberto Rizzo of SolidWorld GROUP, Christian Traviglia of IDNTT, Alfredo Balletti of COMAL SpA, Gismondi Massimo of Gismondi 1754 spa.
Spring Investor Conference 2024
The Spring Investor Conference (Tiny Titans Talk) took place on Tuesday, April 9th, at DAZI MILANO, an event organized by BancaProfilo.
On this occasion, institutional investors and some of the most promising companies listed on the EGM had the opportunity to meet and discuss the results of 2023, their strategies, and future objectives.
30 Italian and foreign institutional investors participated, along with 12 EGM companies: Cofle Group, COMAL SpA, Gismondi, Homizy, IDNTT S.A., Intred, MEMSCAP S.A., Nusco S.p.A., Riba Mundo Tecnología SA, Saccheria Franceschetti S.p.A, SolidWorld Group, SVAS Biosana S.p.A.
It was a moment of fruitful exchange and great vision on the future of the Italian financial market.
We thank everyone for participating and look forward to meeting again in September to continue this path of growth and collaboration.
