Earnings Per ShareAn average cut of FY25-26E EPS by around 29% vs. previous estimates led to a lowered target price of EUR 10, confirming a NEUTRAL rating given the current uncertain scenario.
Market And Demand UncertaintyConsidering a still mixed scenario in the first part of the year and a possible weakening of the consumer confidence related to the ongoing trade war, a HOLD rating is confirmed.
Revenue And EBITDA DeclineZignago Vetro’s revenues declined by 1.8% to EUR 155.4M and EBITDA decreased by around 36% to EUR 22M, affected by a temporary impact of the inventory reduction and by some inflationary trend on costs, in particular energy.