Company: Landi Renzo
Listings: Milan Exchange & Frankfurt Exchange
Ticker: LR.MI & ARQ.F
Market cap at time of publication: € 119 MEUR
Stock price at time of publication: € 0.53
Analyst target Price: € 0.98 EUR
Business: RNG/Hydrogen mobility & OEM producer


ESGFIRE Comment:

We are extremely pleased to see our portfolio company Landi Renze deliver a very pleasing Q3 report. Although the net result was negative the consolidated revenues increased by 33,1 % totalling €216,4 million EUR. The EBITDA result increased with 15,2 % to €8,7 million EUR. What is also striking is that the company had a cash and cash equivalents at the end of the period of  €59 million after the latest capital increase compared to the market cap of €119 million.

The company has also done  management changes  and presented a new CFO, Vittorio
Tavanti, of the new Group COO, Corrado Belicchi, and the new Head of Strategy and Business
Development, Giorgio Maria Nero. Vittorio Tavanti has extensive international experience in senior roles in finance and control, built up in renowned blue chips with global presence, including Schneider Electric, General Electrics, Siemens, and Baker Hughes.

We were especially intrigued by the following statement in the Q3 report”Hydrogen developments are progressing both in the Clean Tech Solutions segment, with a significant order book and several negotiations already in place, and in the Green Transportation field, with a substantial number of initiatives underway. “

Landi Renzo is the global leader in the natural gas, biomethane and hydrogen sustainable mobility and
infrastructure sector. The Group stands out for its extensive presence at global level in over 50 countries,
generating nearly 90% of its revenues abroad. Landi Renzo S.p.A. has been listed on the Euronext STAR Milan segment of Borsa Italiana since June 2007

Full press release available below:

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