Financials Inwit S.p.A.

Equities

INW

IT0005090300

Integrated Telecommunications Services

Market Closed - Borsa Italiana Other stock markets 11:44:59 2025-01-17 am EST			5-day change	1st Jan Change
10.06 ^EUR	+1.51%		+4.41%	+2.50%

Dec. 23	Mib down; Bankitalia, stop Banca Sistema dividends	AN
Dec. 10	Futures await European stock markets on the downside	AN

Projected Income Statement: Inwit S.p.A.

income-statement-evolution-chart INWIT-S-P-A

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	395.4	663.4	785.1	853	960.3	1,037	1,100	1,162
Change	-	67.78%	18.34%	8.65%	12.58%	8.03%	6.08%	5.59%
EBITDA ¹	349.8	610.5	714.9	781.4	878.6	948.4	1,004	1,064
Change	-	74.54%	17.1%	9.3%	12.44%	7.94%	5.86%	6.03%
EBIT ¹	219.8	297.4	354.7	417.7	508.1	566.7	622.6	683.2
Change	-	35.34%	19.26%	17.76%	21.65%	11.52%	9.87%	9.74%
Interest Paid ¹	-24.17	-69.76	-90.1	-81.2	-112.9	-116.9	-118.2	-127.6
Earnings before Tax (EBT) ¹	195.6	220.9	264.6	334.3	395.8	443.4	498.1	548.9
Change	-	12.97%	19.76%	26.34%	18.39%	12.04%	12.32%	10.2%
Net income ¹	139.3	156.7	191.4	293.3	339.5	374.9	421.4	456.7
Change	-	12.46%	22.17%	53.24%	15.75%	10.41%	12.42%	8.37%
Announcement Date	3/5/20	3/4/21	2/24/22	3/3/23	3/7/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	108.1	103	184.4	186.1	189.9	190.2	192.9	198.1	203.9	207	210.7	214.8	220.5	233.6	237.6	242	247.1	254.6	257.1	260.3	264.3
Change	-	-4.76%	79.1%	0.92%	2.06%	0.14%	1.42%	2.7%	2.93%	1.52%	1.79%	1.95%	2.65%	5.94%	1.71%	1.85%	2.11%	3.05%	0.97%	1.24%	1.52%
EBITDA ¹	94.08	93.02	173.7	172.8	171.3	173	175.9	180.9	185.1	189	191.7	197.1	203.5	213.6	216.3	223	226	233	235.6	237.2	243.2
Change	-	-1.13%	86.75%	-0.52%	-0.86%	0.99%	1.68%	2.84%	2.32%	2.11%	1.43%	2.82%	3.25%	4.96%	1.26%	3.1%	1.35%	3.11%	1.1%	0.68%	2.53%
EBIT ¹	61.85	56.73	72.5	77.6	83.84	83.83	87.1	90.8	93	95.7	102.2	107.6	111.3	122.3	123.4	128.4	134.2	137.8	140.5	140.1	151.6
Change	-	-8.28%	27.79%	7.03%	8.04%	-0.01%	3.9%	4.25%	2.42%	2.9%	6.79%	5.28%	3.44%	9.88%	0.9%	4.05%	4.56%	2.65%	1.96%	-0.28%	8.24%
Charge d'intérêts ¹	-	-9.466	-	-20.63	-	-21.5	-26.4	-22.1	-20	-18.8	-19	-19.76	-23.7	-25	-26.8	-30.46	-30.9	-	-32.45	-35.93	-29.7
Earnings before Tax (EBT) ¹	-	47.27	-	57	61.63	62.34	60.7	68.6	73	76.9	83.2	86	88.2	97.5	96.73	98.07	103.5	107.8	-	104.2	127.5
Change	-	-	-100%	-	8.12%	1.15%	-2.63%	13.01%	6.41%	5.34%	8.19%	3.37%	2.56%	10.54%	-0.79%	1.38%	5.53%	4.16%	-100%	-	22.36%
Net income ¹	40.41	33.53	38.1	40.3	44.74	43.45	51.5	54.6	41.8	68.1	73.9	75	76.3	82.9	80.82	85.1	90.6	89.73	89.3	87	109.5
Change	-	-17.04%	13.64%	5.77%	11.02%	-2.88%	18.52%	6.02%	-23.44%	62.92%	8.52%	1.49%	1.73%	8.65%	-2.51%	5.29%	6.46%	-0.96%	-0.48%	-2.58%	25.86%
Announcement Date	3/5/20	5/11/20	7/31/20	11/5/20	3/4/21	5/13/21	7/29/21	11/4/21	2/24/22	5/5/22	7/28/22	10/27/22	3/3/23	5/9/23	7/26/23	11/9/23	3/7/24	5/7/24	7/31/24	11/6/24	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2023 S1	2024 S1
Net sales ¹	383.1	417.7	471.2	511.7
Change	-	9.03%	12.82%	8.59%
EBITDA ¹	348.9	380.7	429.9	468.6
Change	-	9.11%	12.92%	9.01%
EBIT ¹	-	197.9	245.7	278.3
Change	-	-	24.17%	13.25%
Charge d'intérêts	-	-37.8	-51.8	-
Earnings before Tax (EBT)	-	160.1	194.2	-
Change	-	-	21.32%	-100%
Net income ¹	-	142	163.7	179.1
Change	-	-	15.3%	9.39%
Announcement Date	7/29/21	7/28/22	7/26/23	7/31/24

¹EUR in Million

Estimates

Forecast Balance Sheet: Inwit S.p.A.

balance-sheet-analysis-chart INWIT-S-P-A

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	727	3,712	4,053	4,079	4,207	4,466	4,537	4,559
Change	-	410.59%	9.19%	0.64%	3.14%	6.16%	1.59%	0.48%
Announcement Date	3/5/20	3/4/21	2/24/22	3/3/23	3/7/24	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Inwit S.p.A.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	210.8	89.3	160.2	187	290	349.8	272.6	254.5
Change	-	-57.64%	79.39%	16.73%	55.08%	20.63%	-22.07%	-6.64%
Free Cash Flow (FCF) ¹	94	397.3	366.5	491.4	611.5	620.6	645.5	693.2
Change	-	322.67%	-7.76%	34.09%	24.44%	1.48%	4.02%	7.38%
Announcement Date	3/5/20	3/4/21	2/24/22	3/3/23	3/7/24	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Inwit S.p.A.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	88.46%	92.02%	91.06%	91.61%	91.5%	91.42%	91.23%	91.6%
EBIT Margin (%)	55.58%	44.83%	45.18%	48.97%	52.91%	54.62%	56.57%	58.79%
EBT Margin (%)	49.46%	33.3%	33.7%	39.19%	41.22%	42.75%	45.26%	47.23%
Net margin (%)	35.23%	23.62%	24.38%	34.38%	35.35%	36.13%	38.29%	39.3%
FCF margin (%)	23.77%	59.89%	46.68%	57.61%	63.68%	59.82%	58.66%	59.65%
FCF / Net Income (%)	67.48%	253.61%	191.47%	167.54%	180.12%	165.55%	153.18%	151.79%
Profitability
ROA	6.16%	2.68%	2.08%	3.46%	3.65%	3.97%	4.56%	5.15%
ROE	8.96%	5.26%	4.22%	6.6%	7.71%	9.17%	10.76%	12.09%
Financial Health
Leverage (Debt/EBITDA)	2.08x	6.08x	5.67x	5.22x	4.79x	4.71x	4.52x	4.28x
Debt / Free cash flow	7.74x	9.34x	11.06x	8.3x	6.88x	7.2x	7.03x	6.58x
Capital Intensity
CAPEX / Current Assets (%)	53.32%	13.46%	20.41%	21.92%	30.2%	33.72%	24.77%	21.9%
CAPEX / EBITDA (%)	60.27%	14.63%	22.41%	23.93%	33.01%	36.89%	27.15%	23.91%
CAPEX / FCF (%)	224.27%	22.48%	43.71%	38.05%	47.42%	56.37%	42.23%	36.72%
Items per share
Cash flow per share ¹	0.5076	0.5591	0.2269	-	0.8482	0.798	0.8454	0.9218
Change	-	10.15%	-59.42%	-	-	-5.92%	5.95%	9.03%
Dividend per Share ¹	0.132	0.3	0.3225	0.3472	0.48	0.5067	0.5439	0.5851
Change	-	127.27%	7.5%	7.66%	38.25%	5.57%	7.34%	7.57%
Book Value Per Share ¹	2.602	5.257	4.67	4.653	4.576	4.476	4.388	4.311
Change	-	102.04%	-11.17%	-0.36%	-1.64%	-2.19%	-1.96%	-1.75%
EPS ¹	0.232	0.18	0.199	0.306	0.355	0.403	0.4556	0.502
Change	-	-22.41%	10.56%	53.77%	16.01%	13.53%	13.06%	10.18%
Nbr of stocks (in thousands)	599,778	960,200	959,913	959,906	947,551	931,774	931,774	931,774
Announcement Date	3/5/20	3/4/21	2/24/22	3/3/23	3/7/24	-	-	-