New Risk • Dec 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 4.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Share price has been highly volatile over the past 3 months (4.2% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (€22.9m market cap, or US$24.1m). Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to €3.80, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 9x in the Media industry in Italy. Total returns to shareholders of 5.0% over the past three years. Major Estimate Revision • Oct 24
Consensus EPS estimates fall by 62% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.34 to €0.13. Revenue forecast unchanged from €32.9m at last update. Net income forecast to grow 392% next year vs 18% growth forecast for Media industry in Italy. Consensus price target broadly unchanged at €7.88. Share price was steady at €3.26 over the past week. Reported Earnings • Oct 07
First half 2024 earnings released First half 2024 results: Revenue: €15.1m (up 19% from 1H 2023). Net income: €261.0k (down 33% from 1H 2023). Profit margin: 1.7% (down from 3.1% in 1H 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Media industry in Italy. New Risk • Oct 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 3.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (€22.8m market cap, or US$25.2m). Major Estimate Revision • Apr 21
Consensus revenue estimates increase by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €30.0m to €33.0m. EPS estimate unchanged from €0.34 at last update. Media industry in Italy expected to see average net income growth of 77% next year. Consensus price target up from €6.93 to €8.03. Share price was steady at €2.84 over the past week. Price Target Changed • Apr 16
Price target increased by 16% to €8.03 Up from €6.93, the current price target is an average from 2 analysts. New target price is 197% above last closing price of €2.70. Stock is down 22% over the past year. Reported Earnings • Apr 16
Full year 2023 earnings released Full year 2023 results: Revenue: €31.1m (up 72% from FY 2022). Net income: €726.0k (up 218% from FY 2022). Profit margin: 2.3% (up from 1.3% in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Media industry in Italy. New Risk • Apr 14
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2022. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2022 fiscal period end). Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (€21.7m market cap, or US$23.1m). New Risk • Feb 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (5.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (€24.2m market cap, or US$26.0m). New Risk • Nov 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (€21.9m market cap, or US$23.2m). Announcement • Sep 16
NVP S.p.A. (BIT:NVP) completed the acquisition of the Business Unit of Euroscena Srl for €0.08 million. NVP S.p.A. (BIT:NVP) signed a term sheet to acquire the Business Unit of Euroscena Srl on July 13, 2023. The transaction is subject to definitive agreement, and among other things, to the completion of the trade union information and consultation procedure, in relation to the Euroscena employees to be transferred to NVP through the sale of the Mediapro group's branch. The acquisition of the business branch consists of the technological infrastructure and fixed assets, the lease agreement between Eumovil (of the Mediapro group) and Euroscena in relation to the equipment and technologies of the mobile control room, the employment contracts with 25 Euroscena employees and the lease of a warehouse in Tor Cervara (Rome).NVP S.p.A. (BIT:NVP) completed the acquisition of the Business Unit of Euroscena Srl for €0.08 million on September 14, 2023. The transaction took place through NVP's acquisition of the entire stake in Produzioni Italia Srl, a newco established by Euroscena into which the business unit was merged. The acquisition includes in the agreement is all the technological infrastructure and assets currently used by Euroscena for the purposes of the proper conduct of the business unit, the lease agreement entered into between Eumovil, a Mediapro group company, and Euroscena in relation to the equipment and technologies of the mobile control room, the labor contracts with 25 Euroscena employees and the lease agreement relating to a warehouse located in Tor Cervara. Announcement • Jul 14
NVP S.p.A. (BIT:NVP) signed a term sheet to acquire the Business Unit of Euroscena Srl. NVP S.p.A. (BIT:NVP) signed a term sheet to acquire the Business Unit of Euroscena Srl on July 13, 2023. The transaction is subject to definitive agreement, and among other things, to the completion of the trade union information and consultation procedure, in relation to the Euroscena employees to be transferred to NVP through the sale of the Mediapro group's branch. The acquisition of the business branch consists of the technological infrastructure and fixed assets, the lease agreement between Eumovil (of the Mediapro group) and Euroscena in relation to the equipment and technologies of the mobile control room, the employment contracts with 25 Euroscena employees and the lease of a warehouse in Tor Cervara (Rome). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Statutory Auditor Antonio Parisi was the last director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 04
First half 2022 earnings released: EPS: €0 (vs €0.068 in 1H 2021) First half 2022 results: EPS: €0 (down from €0.068 in 1H 2021). Revenue: €9.54m (up 48% from 1H 2021). Net loss: €76.0k (down 115% from profit in 1H 2021). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Media industry in Italy. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €2.48, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Media industry in Italy. Total loss to shareholders of 38% over the past year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). CEO & Director Massimo Pintabona was the last director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 16
Full year 2021 earnings released Full year 2021 results: Revenue: €16.6m (up 152% from FY 2020). Net income: €320.0k (up €1.73m from FY 2020). Profit margin: 1.9% (up from net loss in FY 2020). Reported Earnings • Oct 10
First half 2021 earnings released: EPS €0.068 (vs €0.16 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €6.46m (up 384% from 1H 2020). Net income: €506.5k (up €1.64m from 1H 2020). Profit margin: 7.8% (up from net loss in 1H 2020). Announcement • Apr 30
NVP S.p.A. (BIT:NVP) acquired 37% stake in Hiway Media Srl for €1 million. NVP S.p.A. (BIT:NVP) agreed to acquire 37% stake in Hiway Media Srl on April 6, 2021. The transaction is expected to complete on April 30, 2021.
NVP S.p.A. (BIT:NVP) completed the acquisition of 37% stake in Hiway Media Srl for €1 million on April 28, 2021. Announcement • Feb 24
NVP S.p.A. (BIT:NVP) agreed to acquire Business unit of Xlive S.R.L. for €1 million. NVP S.p.A. (BIT:NVP) agreed to acquire Business unit of Xlive S.R.L. for €1 million on February 22, 2021. The total value of the transaction amounts to €1 million, of which €0.2million will be recognized on the date of the preliminary investment agreement by offsetting trade receivables that NVP has towards Xlive by virtue of the collaboration relationship already in progress, €0.5 million will be disbursed at closing, of which €0.3 million through exchange in NVP shares and €0.2 million through offsetting of credit or cash for any difference and €0.3 million through the payment of two equal installments on the dates of March 31, 2021 and August 31, 2021. The transaction was financed with proceeds from the NVP IPO. The transaction is expected to close on February 26, 2021. Is New 90 Day High Low • Dec 17
New 90-day high: €3.20 The company is up 18% from its price of €2.71 on 18 September 2020. The Italian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 8.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: €2.52 The company is down 12% from its price of €2.85 on 31 July 2020. The Italian market is down 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 6.0% over the same period. Reported Earnings • Oct 06
First half earnings released Over the last 12 months the company has reported total losses of €969.6k, with earnings decreasing by €1.27m from the prior year. Total revenue was €6.10m over the last 12 months, largely unchanged from the prior year.