A little Italian anomaly

Discreet Italian craftsmanship in refrigeration and comfort technologies

I. Key Metrics
II. Modus Operandi
III. Moat
IV. Business Performance
V. Valuation

I. Key Metrics

First I will start with some key metrics. I decided to add some little anomalies to my portfolio. So by little I mean small caps:

Market Cap: 104 million euro

Enterprise value: 133 million euro

Net debt: 29 million euro

CFO (cash flow from operations) (2024): 17 million euro

EBITDA (2024): 16 million euro

EBIT margin 6y average: 7.5%

source: tikr.com

EBIT margin 2024: 5.5%

ROE 2024: 8.6%

P/B: 0.75x (0.82x before revaluation of equity investment) vs 1.42x mean

EV/EBITDA: 8.16x vs 8.7x mean

Div. yield: 4.05% vs 3.35% mean