Banca Imi: target price of Biesse shares revised upwards

Biesse ended 2015 with an estimated turnover of 519 million euros, recording a 21.6 percent increase. “It should be noted − says Banca IMI (Intesa Sanpaolo Group) − that the fourth quarter of 2015 appears to have been the best for the Group, with double-digit growth in all divisions and a 23.8 percent increase in revenues”. “Biesse − continues Banca Imi − is expected in the medium term to perform better in its target markets with an expected average annual growth rate of 10.7 percent”.“The value added margin − records Banca Imi − reached 41 percent in 2015 compared to 39.6 percent in the previous year, benefiting from an improved sales mix in the higher-end of the market. Ebitds grew by 67 percent in the fourth quarter of 2015 and 60 percent in the year. Ebit increased by 63.8 percent in the fourth quarter of 2015 and 76.9 percent in the year. Compared to net debt of EUR 11.3 million in 2014, Biesse in 2015 can record an almost zero net debt”. 
On 1st March, Biesse shares achieved the best performance of the STAR segment, with an increase in share value of 7.68 percent.