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    AZM   IT0003261697

AZIMUT HOLDING S.P.A.

(AZM)
  Report
Delayed Borsa Italiana  -  11:35 2022-09-30 am EDT
14.71 EUR   +3.27%
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09/12Azimut Announces a Reduction in Outstanding Shares by 3.5% with the Closing of the Eleonore South Sale Transaction
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08/08Azimut Holding : July 2022 net inflows of € 1.4 billion 2022 YTD inflows € 4.9 billion (full-year 2022 target1: € 6 – 8 billion) 73% of net inflows into managed assets in July
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Peninsula clinches buy of Italy's ISEM to drive packaging industry consolidation

05/31/2022 | 12:11pm EDT

MILAN (Reuters) - Investment firm Peninsula Capital said it had agreed to buy Italian premium packaging firm ISEM Bramucci in a deal worth around 90 million euros ($97 million), and targeted further acquisitions in the still fragmented industry.

Reuters had reported in January London-based Peninsula was leading the race to buy ISEM Bramucci, which makes luxury boxes and folding cartons to hold fragrances, cosmetics and champagne bottles, and whose customers include L'Oréal and Shiseido.

At the time, the valuation was pegged at between 80 million and 90 million euros.

The e-commerce boom fuelled by the pandemic has driven rapid growth in the packaging industry, with demand for paper packaging in particular fed also by a de-plastification push.

The paper packaging industry is energy-intensive and has been grappling with the spike in gas prices.

Peninsula said ISEM Bramucci would continue to be led by current CEO Francesco Pintucci, while the chairmanship would be taken by Marco Giovannini, former CEO and chairman of Guala Closures, an Italian maker of safety caps for bottles.

Giovannini's area of expertise could help ISEM Bramucci develop its spirits business, Peninsula said.

Peninsula said it saw room to bring together more Italian packaging firms, and help them make the most of their proximity to make-up manufacturers in a country which accounts for three quarters of the global cosmetics output.

Peninsula owns a significant minority stake in Italian low-cost make-up brand Kiko Milano, which is already among ISEM Bramucci's customers.

The acquisition was carried out by Peninsula's principal fund, with a co-investment by Italian asset manager Azimut.

($1 = 0.9327 euros)

(Reporting by Valentina Za and Francesco Zecchini; Editing by David Holmes)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.00% 0.6402 Delayed Quote.-10.41%
AZIMUT HOLDING S.P.A. 3.27% 14.705 Delayed Quote.-40.42%
BRITISH POUND / US DOLLAR (GBP/USD) 0.00% 1.116 Delayed Quote.-19.96%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.7227 Delayed Quote.-7.30%
EURO / US DOLLAR (EUR/USD) 0.01% 0.9801 Delayed Quote.-13.57%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.04% 0.01227 Delayed Quote.-8.53%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.00% 0.5594 Delayed Quote.-16.40%
SHISEIDO COMPANY, LIMITED -0.12% 5056 Delayed Quote.-21.17%
All news about AZIMUT HOLDING S.P.A.
09/30Italy's Doris family to keep Banca Mediolanum independent and listed
RE
09/12Azimut Announces a Reduction in Outstanding Shares by 3.5% with the Closing of the Eleo..
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08/08Azimut Holding : July 2022 net inflows of € 1.4 billion 2022 YTD inflows € 4.9 billion (fu..
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Analyst Recommendations on AZIMUT HOLDING S.P.A.
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Financials
Sales 2022 1 288 M 1 263 M 1 263 M
Net income 2022 370 M 363 M 363 M
Net cash 2022 501 M 491 M 491 M
P/E ratio 2022 5,67x
Yield 2022 9,20%
Capitalization 2 053 M 2 013 M 2 013 M
EV / Sales 2022 1,20x
EV / Sales 2023 0,98x
Nbr of Employees 1 490
Free-Float 82,9%
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Number of Analysts 12
Last Close Price 14,71 €
Average target price 23,19 €
Spread / Average Target 57,7%
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Managers and Directors
Paolo Martini Director
Alessandro Zambotti Finance Director
Gabriele Roberto Blei Co-Chief Executive Officer & Director
Massimo Guiati Co-Chief Executive Officer & Director
Giorgio Medda Co-Chief Executive Officer & Director
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