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    LD   IT0001055521

LA DORIA S.P.A.

(LD)
  Report
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La Doria (LD): Looking ahead with confidence

05/28/2021 | 02:01am EST
Edison Investment Research Limited 
La Doria (LD): Looking ahead with confidence 
28-May-2021 / 07:00 GMT/BST 
=---------------------------------------------------------------------------------------------------------------------- 
 
London, UK, 28 May 2021 
 
La Doria (LD): Looking ahead with confidence 
La Doria has posted another strong quarter, with revenue and EBITDA growth notwithstanding the strong base. Revenue 
growth was mainly price-driven, and mostly driven by the UK business. While the outlook for the sector remains 
favourable, the company continues to expect revenues and volumes to fall during 2021 as consumption gradually returns 
to normal and following the exceptionally strong performance during FY20. Management expects EBITDA to improve as the 
benefits of the investment plan start to flow through in full. We leave our estimates unchanged. 
 
Our DCF model indicates a fair value of EUR20.00 per share (unchanged), or c 15% upside from the current share price. La 
Doria trades on a P/E of 11.3x FY21e, a c 35% discount to its private-label peer group. On EV/EBITDA it trades at 7.6x 
FY21e, a c 10% discount, and its dividend is well covered, with a yield of 2.3%. We believe La Doria remains an 
attractive proposition, given the strength of its market position in the private-label segment. Management remains 
committed to improving the stability of the business, while continuing to invest to maintain its competitive edge. 
Click here to view the full report or here to sign up to receive research as it is published. 
 
All reports published by Edison are available to download free of charge from its website 
www.edisongroup.com 
About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the 
widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, 
family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the 
darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. 
Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. 
Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in 
Athens, Johannesburg and Sydney. 
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solicitations to buy or sell any securities. 
For more information, please contact Edison: 
Sara Welford +44 (0)20 3077 5700 consumer@edisongroup.com 
Russell Pointon +44 (0)20 3077 5700 consumer@edisongroup.com 
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=---------------------------------------------------------------------------------------------------------------------- 
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 

1201653 28-May-2021

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1201653&application_name=news 
 

(END) Dow Jones Newswires

May 28, 2021 02:00 ET (06:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
BELIEVE -2.86% 17.826 Real-time Quote.0.00%
DJ INDUSTRIAL 0.10% 35754.75 Delayed Quote.12.98%
LA DORIA S.P.A. 0.12% 16.5 Delayed Quote.20.47%
All news about LA DORIA S.P.A.
11/12La Doria S.p.A. Reports Earnings Results for the Third Quarter and Nine Months Ended Se..
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11/12LA DORIA S P A : BoD approves the Interim Report at 30 September 2021 See Attachment View ..
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11/12LA DORIA S P A : Interim Report at September 30, 2021 See Attachment View research
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10/30Key information as per articles 122 of the CFA and 130 of the See Attachment View resea..
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10/30Filing of Shareholder Agreements
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10/27INVESTINDUSTRIAL VII L.P. FUND MANAG : LD) from Ferraioli family for approximately ?320 mi..
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10/27INVESTINDUSTRIAL VII L.P. MANAGED BY : LD) from Ferraioli family for approximately ?320 mi..
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10/19LA DORIA S P A : Exclusive negotiations continue between the majority shareholders of La D..
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09/27La Doria Top Investor in Talks with InvestIndustrial to Sell
CI
09/27LA DORIA S P A : Shares Down12% on Proposed Sale of Interest by Majority Shareholders
MT
More news
Financials
Sales 2021 807 M 915 M 915 M
Net income 2021 47,0 M 53,3 M 53,3 M
Net Debt 2021 104 M 118 M 118 M
P/E ratio 2021 10,8x
Yield 2021 2,48%
Capitalization 504 M 572 M 572 M
EV / Sales 2021 0,75x
EV / Sales 2022 0,70x
Nbr of Employees 820
Free-Float 30,2%
Chart LA DORIA S.P.A.
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La Doria S.p.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends LA DORIA S.P.A.
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TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 0
Last Close Price 16,50 €
Average target price 22,00 €
Spread / Average Target 33,3%
EPS Revisions
Managers and Directors
Andrea Ferraioli Vice Chairman & Co-Chief Executive Officer
Antonio Ferraioli Chairman & Co-Chief Executive Officer
Elena David Independent Director
Michele Preda Independent Director
Iolanda Ferraioli Director