Currency in EUR
Last close As at 25/03/2023
▲ −0.10 (−0.41%)
Portobello aims to build a national Italian retail presence via a rapid rollout of own-stores and franchises. It uses a combination of barter (own and third-party media) and cash purchases to source branded products from its suppliers.
Portobello’s aspiration is to grow its retail footprint across Italy. If management can execute this strategy, it would produce premium revenue and profit growth in the long term versus its peers. Management is accelerating its store expansion plans from FY22, following the disruption caused by the outbreak of COVID-19.
Mirco Di Giuseppe
Co-founder and COO
Forecast net debt (€m)
Forecast gearing ratio (%)
|52 week high/low||€39.2/€15.8|
Portobello’s underlying profitability in FY22 was ahead of our expectations despite the more difficult operating environment affecting revenue growth. Portobello’s multi-distribution model enabled its B2B activities to partially compensate for the slower-than-expected but still strong Retail and Media growth. Our forecasts are under review and will be updated following publication of Portobello’s full financial statements in English.
|Y/E Dec||Revenue (€m)||EBITDA (€m)||PBT (€m)||EPS (fd) (c)||P/E (x)||P/CF (x)|
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