Financial PerformanceEquita’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 in a still challenging environment for equity capital markets.
RevenueEquita reported 4Q24 net profit of EUR 4.2M vs. EUR 6.9M in 4Q23, below estimate of EUR 5.3M, with lower-than-expected revenues, driven by the Investment Banking and AAM.
Stock ValuationFollowing estimates revision a new target price of EUR 4.7 was set and shares were downgraded to HOLD, as the stock is now seen as fairly pricing in the expected upturn in business activity in 2025.