Business OutlookThe conference call confirmed a solid business outlook in Italy and Germany, with a multi-year order backlog at €247.3mn, up from €150mn.
Growth ProspectsManagement reaffirmed its target of high single-digit organic growth in FY24-25, with both Italy and Germany on track.
Stock RatingThe stock rating is upgraded to 'buy' with an upside potential of 20% from the current market price.