EarningsEquita's 4Q24 results were softer than estimates, both at the top and bottom line, with each business unit’s revenue declining double digit yoy, leading to a -9% drop in FY24 total revenue.
Profit DeclineEquita reported 4Q24 net profit of EUR 4.2M vs. EUR 6.9M in 4Q23, below estimates, with lower-than-expected revenues, driven by the Investment Banking and AAM.
Stock ValuationFollowing the estimates revision, a new target price of EUR 4.7 was set, with shares downgraded to HOLD, as the stock is seen as fairly pricing in the expected upturn in business activity in 2025.