In 2024, the number of companies listed on the EGM remained unchanged, slightly above 200. There were 5 IPOs in the quarter, quite in line with last year when there were 8 IPOs and then 33 at the end of the year. Total capitalization fell below 9 billion euros, with an average of just under40 million.
Since the beginning of the year, the FTSE Italia Growth index continues to underperform both the FTSE Italia All-Share and the FTSE Italia STAR. Notably, EGM participated to a lesser extent in the October 2023 stock rally resulting from slowing inflationary pressure and the first signs of a reversal in monetary policy.
In 2023, the EGM companies confirmed their growth potential and good profitability: the average revenue growth was 22% and approximately 45% of the companies reported an EBITDA margin greater than 15%.
The pace of M&A operations remained high also in the first quarter with 18 deals (in line with 19 last year).
What are the growth and margin prospects for the next three years? Find out the report by Francesca Sabatini, Head of Equity Research, and Enrico Luca, CFA, Equity Research Analyst of Banca Profilo.
