IRCE S.p.A.

Equities

IRC

IT0001077780

Electrical Components & Equipment

Market Closed - Borsa Italiana Other stock markets 11:44:59 2024-04-29 am EDT			5-day change	1st Jan Change
2.24 ^EUR	0.00%		+4.67%	+13.71%

Mar. 19	Futures passive; BoJ abandons negative rates.	AN
Mar. 18	Milan at parity; De Nora on bottom after accounts	AN

IRCE to invest EUR45 million to strengthen position in EU market

December 21, 2023 at 01:54 pm EST

(Alliance News) - IRCE Spa announced Thursday that the board has approved a EUR45 million investment project in the Czech Republic.

The investment is aimed at strengthening the group's position in the European winding conductor market, with a focus on the electric vehicle market.

A production plant is scheduled to be built by the end of 2024 and the progressive purchase of machinery and equipment is planned to be completed by the end of 2028. The project will be carried out by the subsidiary in the Czech Republic, IRCE sro, and production is expected to begin in the first quarter of 2025.

The current financial commitment associated with the project is approximately EUR25 million, an amount that will be paid by 2024 based on the progress of the work and the delivery and installation of the first equipment and machinery.

IRCE's stock closed Thursday down 0.5 percent at EUR1.97 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Go to the original article.
Legal disclaimer

Latest news about IRCE S.p.A.

Futures passive; BoJ abandons negative rates.	Mar. 19	AN
Milan at parity; De Nora on bottom after accounts	Mar. 18	AN
IRCE closes 2023 with drop in revenue and profit	Mar. 15	AN
IRCE S.p.A. Reports Earnings Results for the Full Year Ended December 31, 2023	Mar. 14	CI
Futures up; US inflation does not dampen buying	Mar. 13	AN
Mib rises to 33,700; MPS and BPER at annual highs	Mar. 12	AN
Sogefi in the lead; Beewize still bearish	Mar. 12	AN
Futures up in wake of Asia and New York rises.	Dec. 27	AN
Mib closes up slightly before break	Dec. 22	AN
Mib at parity; confidence in Italy improves	Dec. 22	AN
Indices down slightly; Brent rises above USD80	Dec. 22	AN
IRCE to invest EUR45 million to strengthen position in EU market	Dec. 21	AN
IRCE S.p.A. Reports Earnings Results for the Nine Months Ended September 30, 2023	Nov. 14	CI
IRCE in nine months reports rising profit and falling revenues	Nov. 14	AN
IRCE S.p.A. Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-13	CI
IRCE, half-year profit increases but revenues fall	23-09-13	AN
European stock markets down; MPS tops on Mib.	23-09-13	AN
Europeans down; Brent crude above USD92	23-09-13	AN
Stock markets expected down on U.S. inflation day	23-09-13	AN
Stock exchanges mixed; Brent over USD92	23-09-12	AN
IRCE S.p.A. Reports Earnings Results for the First Quarter Ended March 31, 2023	23-05-15	CI
IRCE closes with turnover down; Ebitda in line, profit up	23-05-15	AN
IRCE, profit and sales fall slightly; there's dividend	23-03-15	AN
IRCE S.p.A. Reports Earnings Results for the Full Year Ended December 31, 2022	23-03-14	CI
IRCE S.p.A. Reports Earnings Results for the Nine Months Ended September 30, 2022	22-11-13	CI

Chart IRCE S.p.A.

Duration

Period

More charts

Company Profile

IRCE SpA is an Italy-based cable producer. The Company's activities are structured into two segments, Winding Wires and Cables. Winding Wires products include winding wires, which are used in the manufacture of electric motors, generators, transformers, relays and solenoids. Cables segment includes energy and data cables for the construction sector and for electrical equipment. The Company operates through factories located in Italy, in the municipalities of Imola, Guglionesi, Umbertide and Miradolo Terme, in the Netherlands, the United Kingdom, Brazil, India and Germany. Through its subsidiaries, the Company is also engaged in the distribution of its products. The Companyâs subsidiaries include Isomet AG, Smit Draad Nijmegen BV, FD Sims Ltd, Isolveco Srl, DMG GmbH, IRCE SL, IRCE Ltda, ISODRA Gmbh, Stable Magnet Wire P Ltd and IRCE Kablo Ve Tel Ltd.

Sector

Electrical Components & Equipment

Calendar

2024-05-12 - Q1 2024 Earnings Release (Projected)

More about the company

Income Statement Evolution

More financial data

Ratings for IRCE S.p.A.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.24 EUR

Average target price

3 EUR

Spread / Average Target

+33.93%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Wires & Cables

	1st Jan change	Capi.
IRCE S.P.A.	+13.71%	63.54M
PRYSMIAN S.P.A.	+24.27%	14.95B
NEXANS	+27.32%	4.72B
WALSIN LIHWA CORPORATION	-3.36%	4.62B
ENCORE WIRE CORPORATION	+32.50%	4.47B
KEI INDUSTRIES LIMITED	+23.35%	4.16B
RIYADH CABLES GROUP COMPANY	+0.22%	3.71B
NINGBO ORIENT WIRES & CABLES CO.,LTD.	+0.44%	4.08B
LS CORP.	+48.39%	2.76B
R R KABEL LIMITED	+6.99%	2.27B

Wires & Cables