Duyuru • 9h
Fincantieri S.p.A. (BIT:FCT) agreed to acquire 52.60% stake in Next Geosolutions Europe SpA (BIT:NXT) from Marnavi Spa for €410.3 million. Fincantieri S.p.A. (BIT:FCT) agreed to acquire 52.60% stake in Next Geosolutions Europe SpA (BIT:NXT) from Marnavi Spa for €410.3 million on July 6, 2026. As part of consideration Fincantieri S.p.A. will pay €16.25 per share for 23.75 million ordinary shares and 1.5 million of Class A shares of Next Geosolutions Europe SpA. Should a dividend be declared prior to completion of the Sale and Purchase Agreement, the price per share will be adjusted accordingly by an equivalent amount. The acquisition will be financed through the euro 500 million accelerated bookbuilding (ABB) capital increase successfully completed in February 2026.
Concurrently, on the basis of the agreements currently being finalized with the Reinvesting Shareholders, Fincantieri will acquire from the vehicles of certain Reinvesting Shareholders up to 30% of the NextGeo shares held by them representing 4.48 % of NextGeo’s share capital. Following completion of the Sale and Purchase Agreement, Fincantieri, acting in concert with the Reinvesting Shareholders, will launch, either directly or through a specially established vehicle, a mandatory tender offer on all the remaining outstanding ordinary shares of NextGe
The transaction is subject to the fulfilment of certain condition precedents, including the receipt of the required approvals from the competent antitrust authorities as well as foreign investment control clearances. The acquisitions are highly accretive to Fincantieri’s financial profile , delivering EPSgrowth of 30% by 2028 and 20% by 2030.
Intesa Sanpaolo S.p.A. acted as financial advisor for Fincantieri S.p.A. Studio Legale Cappelli RCCD acted as legal advisor for Fincantieri S.p.A. The Boston Consulting Group Srl acted as due diligence provider for Fincantieri S.p.A. Deloitte Italy S.p.A acted as due diligence provider for Fincantieri S.p.A. New Risk • May 26
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 6.8% 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 High level of non-cash earnings (36% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.8% average weekly change). Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €15.05, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Construction industry in Italy. Total returns to shareholders of 85% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €17.78 per share. Duyuru • Apr 16
Next Geosolutions Europe SpA, Annual General Meeting, Apr 30, 2026 Next Geosolutions Europe SpA, Annual General Meeting, Apr 30, 2026, at 12:00 W. Europe Standard Time. Location: via santa brigida n 39, napoli Italy New Risk • Apr 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 37% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Mar 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to €10.80. The fair value is estimated to be €13.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last year. Earnings per share has grown by 31%. Revenue is forecast to grow by 84% in 2 years. Earnings are forecast to grow by 50% in the next 2 years. Duyuru • Mar 28
Next Geosolutions Europe SpA announces Annual dividend, payable on May 20, 2026 Next Geosolutions Europe SpA announced Annual dividend of EUR 0.1200 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €14.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Construction industry in Italy. Total returns to shareholders of 78% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €22.24 per share. Reported Earnings • Sep 28
First half 2025 earnings released: EPS: €0.53 (vs €0.44 in 1H 2024) First half 2025 results: EPS: €0.53 (up from €0.44 in 1H 2024). Revenue: €105.0m (down 46% from 1H 2024). Net income: €25.4m (up 21% from 1H 2024). Profit margin: 24% (up from 11% in 1H 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Construction industry in Italy. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €12.40, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Construction industry in Italy. Total returns to shareholders of 75% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €19.39 per share. New Risk • Aug 06
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 5.4% 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 High level of non-cash earnings (24% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Profit margins are more than 30% lower than last year (14% net profit margin). Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €10.40, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Construction industry in Italy. Total returns to shareholders of 51% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €20.26 per share. Duyuru • Jul 23
Next Geosolutions Europe SpA (BIT:NXT) agreed to acquire 75.40% stake in Rana Diving Spa from Nettuno Holding - S.R.L. and Alessandro Buffa for €36.7 million. Next Geosolutions Europe SpA (BIT:NXT) agreed to acquire 75.40% stake in Rana Diving Spa from Nettuno Holding - S.R.L. and Alessandro Buffa for €36.7 million on July 22, 2025. The transaction involves the acquisition of 75.4% of the share capital of RANA Subsea, currently held by Nettuno Holding, owning around 55.8%, and 19.6% directly and indirectly held by RANA’s CEO Alessandro Buffa. The maximum consideration amounts to €36.7 million and will be paid in cash, with approximately €26 million upon closing and a maximum of approximately €10.7 million upon approval of RANA Subsea’s consolidated financial statements on December 31. Buffa will remain in place as CEO of RANA Subsea.
The expected completion of the transaction is September 30, 2025. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €8.72, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Construction industry in Italy. Duyuru • Mar 20
Next Geosolutions Europe SpA, Annual General Meeting, Apr 02, 2025 Next Geosolutions Europe SpA, Annual General Meeting, Apr 02, 2025, at 11:00 W. Europe Standard Time. New Risk • Mar 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (14% net profit margin). Reported Earnings • Mar 06
Full year 2024 earnings released Full year 2024 results: Revenue: €304 (down 100% from FY 2023). Net income: €45.0 (down 100% from FY 2023). Profit margin: 15% (down from 36% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in Italy. Duyuru • Sep 19
Next Geosolutions Europe SpA to Report First Half, 2024 Results on Sep 27, 2024 Next Geosolutions Europe SpA announced that they will report first half, 2024 results on Sep 27, 2024 Duyuru • May 23
Next Geosolutions Europe SpA has completed an IPO in the amount of €50 million. Next Geosolutions Europe SpA has completed an IPO in the amount of €50 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 8,000,000
Price\Range: €6.25
Transaction Features: Direct Listing; Regulation S