Stivala Group Finance plc - Updated Financial Analysis Summary

On 27 June 2023, Stivala Group Finance plc published an updated Financial Analysis Summary. The following are the main highlights of the company’s expected financial performance and position in 2023:

• Revenues are expected to surge by 29% to €37.2 million (2022: €28.8 million) reflecting an improvement in performance across all operational sectors as well as the sale of the remaining residential units held as inventory.
• In view of the higher level of business, EBITDA is expected to climb to €27.1 million compared to €21.1 million in 2022.
• Net finance costs are anticipated to remain virtually unchanged at €3.8 million. As a result, the interest cover is expected to improve to 7.1 times from 5.6 times last year.
• In terms of financial position, total assets are forecasted to remain practically unchanged at €398 million whilst total liabilities are expected to drop by 12.8% to €128.5 million.
• Total debt is projected to drop by 5.5% to €97.6 million. In view of the reduction in overall indebtedness as well as the further growth of 8.3% in the company’s equity base to €270 million, the gearing ratio (calculated as total debt divided by total debt plus equity) is expected to ease to 26.6% compared to 29.3% as at the end of 2022. Likewise, the net debt-to-EBITDA multiple is forecasted to improve to 3.5 times from 4.8 times last year.