LU-VE S.p.A. (LUVE.MI) | Investment Case

1. Company Snapshot

1.a. Company Description

LU-VE S.p.A. manufactures and sells refrigeration and air conditioning products in Italy and internationally.The company's products consisting commercial and industrial coolers, air coolers, tubeless steel condensers, air cooled condensers, dry coolers, and accessories and special products.It offers its products for industrial processing, industrial and commercial refrigeration, and air conditioning, as well as energy and power generation, and OEM applications.

The company is headquartered in Uboldo, Italy.LU-VE S.p.A. is a subsidiary of Finami S.R.L.

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1.b. Last Insights on LUVE

LU-VE S.p.A.'s recent performance has been positively influenced by its strong fundamentals, which have allowed it to navigate through market volatility. Amidst a decline in the STOXX Europe 600 Index, investors are seeking stocks with growth potential. LU-VE S.p.A. has been identified as an undiscovered European gem, with a resilient business model. Although no recent earnings release data is available, the company's solid position has drawn investor attention. According to recent market analysis, investors are exploring opportunities in sectors with strong growth prospects.

1.c. Company Highlights

Last Price	39.05
Change Percentage	0.64%
Open	39.1
Previous Close	38.8
Market Cap ( Millions)	867
Volume	7511
Year High	40.25
Year Low	23.15
M A 50	36.8
M A 200	32.35

FCF Yield	5.18%
Dividend Yield	1.08%
ROE	12.43%
Debt / Equity	166.62%
Net Debt / EBIDTA	205.29%
Price To Book	3.41
Price Earnings Ratio	27.88
Price To FCF	19.3
Price To sales	1.48
EV / EBITDA	12.34

2. Transcript Summary

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3. NewsRoom

Undiscovered European Gems To Explore In November 2025

Nov -11

Source:

Unearthing 3 Hidden European Stocks with Strong Potential

Sep -11

Source:

Undiscovered Gems in Europe Three Promising Stocks for May 2025

May -13

Source:

Exploring LU-VE And Two Hidden European Small Caps With Strong Financials

Apr -11

Source:

None And 2 Other Undiscovered Gems With Strong Potential

Feb -26

Source:

Three Undiscovered Gems With Strong Potential

Jan -21

Source:

Discovering Promising Stocks With Potential In December 2024

Dec -13

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Cooling Systems

Expected Growth: 4.5%

Increasing demand for efficient heat transfer solutions, growing adoption of sustainable cooling systems, and rising industrial production in various sectors, such as power generation, oil and gas, and chemical processing, drive the growth of LU-VE S.p.A.'s Cooling Systems.

Components

Expected Growth: 4.5%

Growing demand for efficient heat transfer solutions in industrial applications, increasing adoption of sustainable technologies, and rising investments in renewable energy are driving the growth of the high-performance heat exchangers market.

Other

Expected Growth: 4.5%

The Other segment's growth is driven by increasing demand for heat exchangers and components in various industries, such as HVAC, refrigeration, and industrial processes. Additionally, the trend towards energy efficiency and sustainability is expected to boost demand for these products.

7. Detailed Products

Dry Coolers

LU-VE S.p.A. offers a wide range of dry coolers designed to cool process fluids, including air-cooled heat exchangers and radiators for industrial applications.

Adiabatic Coolers

LU-VE S.p.A. provides adiabatic coolers that use a combination of air and water to cool fluids, offering high efficiency and low water consumption.

Air-Cooled Condensers

LU-VE S.p.A. designs and manufactures air-cooled condensers for refrigeration and air conditioning systems, ensuring efficient heat transfer and low noise levels.

Evaporative Cooling Systems

LU-VE S.p.A. offers evaporative cooling systems that use water evaporation to cool air, providing an energy-efficient and environmentally friendly solution.

Heat Exchangers

LU-VE S.p.A. manufactures a range of heat exchangers, including tube and shell, plate, and spiral heat exchangers for various industrial applications.

Cooling Towers

LU-VE S.p.A. designs and manufactures cooling towers for industrial and commercial applications, ensuring efficient heat rejection and low maintenance.

8. LU-VE S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

LU-VE S.p.A. operates in the HVAC industry, where substitutes are available, but they are not a significant threat. The company's products are highly specialized, and substitutes are not easily available.

Bargaining Power Of Customers

LU-VE S.p.A. has a diverse customer base, and no single customer has significant bargaining power. The company's products are customized, and customers rely on LU-VE S.p.A. for their HVAC needs.

Bargaining Power Of Suppliers

LU-VE S.p.A. relies on a few key suppliers for raw materials. While the company has some bargaining power, suppliers also have some leverage due to the specialized nature of the materials.

Threat Of New Entrants

The HVAC industry has high barriers to entry, including significant capital requirements and specialized expertise. New entrants would face significant challenges in competing with established players like LU-VE S.p.A.

Intensity Of Rivalry

The HVAC industry is highly competitive, with several established players competing for market share. LU-VE S.p.A. faces intense competition from rivals, which can lead to pricing pressure and reduced margins.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	62.60%
Debt Cost	3.95%
Equity Weight	37.40%
Equity Cost	8.00%
WACC	5.46%
Leverage	167.37%

11. Quality Control: LU-VE S.p.A. passed 3 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Inefficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Placoplatre

A-Score: 5.2/10

Value: 4.6

Growth: 0.3

Quality: 6.5

Yield: 5.6

Momentum: 6.5

Volatility: 7.7

1-Year Total Return ->

Tarkett

A-Score: 5.1/10

Value: 8.1

Growth: 2.9

Quality: 2.2

Yield: 0.0

Momentum: 9.5

Volatility: 7.7

1-Year Total Return ->

LU-VE

A-Score: 4.9/10

Value: 3.7

Growth: 6.7

Quality: 4.2

Yield: 2.5

Momentum: 7.0

Volatility: 5.3

1-Year Total Return ->

Schweiter Technologies

A-Score: 4.8/10

Value: 7.8

Growth: 2.2

Quality: 4.4

Yield: 6.9

Momentum: 1.5

Volatility: 6.0

1-Year Total Return ->

Arbonia

A-Score: 3.4/10

Value: 4.5

Growth: 1.0

Quality: 5.7

Yield: 6.9

Momentum: 0.0

Volatility: 2.3

1-Year Total Return ->

Caesarstone

A-Score: 2.8/10

Value: 10.0

Growth: 1.4

Quality: 3.5

Yield: 1.2

Momentum: 0.0

Volatility: 0.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-2.92%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

5.46%

LU-VE S.p.A. - IT0005107492

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on LUVE

1.c. Company Highlights

Weak Momentum

Medium Volatility

Average Yield

Average Quality

Stable Momentum

Average Growth

Strong Momentum

Fairly Valued

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Cooling Systems

Expected Growth: 4.5%

Components

Expected Growth: 4.5%

Other

Expected Growth: 4.5%

7. Detailed Products

Dry Coolers

Adiabatic Coolers

Air-Cooled Condensers

Evaporative Cooling Systems

Heat Exchangers

Cooling Towers

8. LU-VE S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: LU-VE S.p.A. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

39.05$

Current Price

39.05$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA