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1. Company Snapshot

1.a. Company Description

Piovan S.p.A., through its subsidiaries, develops, produces, ad sells automation systems for storage, transport, and processing of plastics, food powders, and non-plastics in Europe, the Middle East, Africa, Asia, North America, and South America.The company offers feeding and conveying products, including automatic and manual coupling stations, feeding and pneumatic material systems, vacuum chambers and receivers, loaders, filters, hoppers, conveying systems, vacuum units, pumps, valves, unloading systems, customized solutions, and production monitoring products; and drying and dehumidifying products, such as dryers and drying systems, automatic injection pressure control and condensing systems, desiccant towers, crystallizers, condensing units, gas heaters, dehumidifiers, retro-fit-conversions, and controllers.It also provides dosing and blending systems comprising blenders, dosing units, and microdosing units; temperature control units; analyzers, moisture and odor minders, and point meters; and granulators, film and edge trimmers, shredders, and de-dusting systems.


In addition, the company offers Winfactory 4.0, a production process control and management software; Winenergy, a software for monitoring and analyzing energy consumption; automation and control systems; control and monitoring systems; spare parts; and help desk, maintenance contracts, training, equipment overhauling, engineering, installation, and energy audit services.Its products have applications in PET preforms and bottles, rigid packaging, automotive components, technical parts, medical solutions, thermoforming and technical sheets, flexible films, fibers and strapping, and recycling and compounds, as well as pipes, profiles, and cables.The company was founded in 1934 and is headquartered in Santa Maria di Sala, Italy.


Piovan S.p.A. is a subsidiary of Pentafin S.p.A.

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1.b. Last Insights on PVN

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.53%)

6. Segments

Technical Polymers

Expected Growth: 3.5%

Technical Polymers from Piovan S.p.A. growth driven by increasing demand for high-performance materials in automotive, aerospace, and industrial applications, coupled with expanding production capacity and strategic partnerships, resulting in a 3.5% growth rate.

Services

Expected Growth: 3.2%

Piovan S.p.A.'s 3.2% growth in services is driven by increasing demand for industrial automation, rising adoption of Industry 4.0 technologies, and growing need for energy-efficient solutions. Additionally, the company's expansion into new markets, strategic partnerships, and investments in digitalization and innovation are contributing to its growth momentum.

Food & Industrial Applications

Expected Growth: 4.5%

Piovan S.p.A.'s Food & Industrial Applications segment growth of 4.5% is driven by increasing demand for automated food processing and packaging, rising adoption of Industry 4.0 technologies, and growing need for energy-efficient solutions. Additionally, expansion in emerging markets and strategic partnerships are contributing to the segment's growth.

7. Detailed Products

Drying Systems

Piovan's drying systems are designed to dry plastic materials, removing moisture and impurities to ensure high-quality production.

Conveying Systems

Piovan's conveying systems are designed to transport plastic materials efficiently and reliably, ensuring minimal material degradation.

Crushing and Grinding Systems

Piovan's crushing and grinding systems are designed to reduce plastic materials to specific sizes, ensuring consistent quality.

Dosing and Blending Systems

Piovan's dosing and blending systems are designed to accurately measure and mix plastic materials, ensuring consistent quality.

Cooling Systems

Piovan's cooling systems are designed to cool plastic materials, ensuring optimal processing conditions.

Automation and Control Systems

Piovan's automation and control systems are designed to optimize production processes, ensuring efficiency and quality.

Material Handling Systems

Piovan's material handling systems are designed to handle and store plastic materials, ensuring efficient production.

8. Piovan S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Piovan S.p.A. operates in a niche market, and the threat of substitutes is moderate. While there are some alternative products available, they are not as efficient or effective as Piovan's products.

Bargaining Power Of Customers

Piovan S.p.A. has a diverse customer base, and no single customer has significant bargaining power. The company's products are also highly customized, making it difficult for customers to switch to alternative suppliers.

Bargaining Power Of Suppliers

Piovan S.p.A. relies on a few key suppliers for critical components, giving them some bargaining power. However, the company's strong relationships with suppliers and its ability to negotiate prices mitigate this risk.

Threat Of New Entrants

The barriers to entry in Piovan S.p.A.'s market are relatively high, due to the need for specialized knowledge and equipment. Additionally, the company's strong brand reputation and established customer relationships make it difficult for new entrants to gain traction.

Intensity Of Rivalry

The market for Piovan S.p.A.'s products is highly competitive, with several established players vying for market share. The company must continually innovate and improve its products to maintain its market position.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 47.81%
Debt Cost 3.95%
Equity Weight 52.19%
Equity Cost 10.10%
WACC 7.16%
Leverage 91.62%

11. Quality Control: Piovan 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

Stock-Card
Manitou BF

A-Score: 6.2/10

Value: 7.9

Growth: 7.2

Quality: 3.4

Yield: 8.8

Momentum: 6.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Pfeiffer Vacuum

A-Score: 5.3/10

Value: 2.5

Growth: 3.9

Quality: 4.7

Yield: 5.6

Momentum: 5.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Sabaf

A-Score: 4.6/10

Value: 5.6

Growth: 3.6

Quality: 3.4

Yield: 5.6

Momentum: 1.5

Volatility: 8.0

1-Year Total Return ->

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Stock-Card
Piovan

A-Score: 4.4/10

Value: 1.7

Growth: 6.7

Quality: 5.6

Yield: 1.9

Momentum: 5.0

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
DEUTZ

A-Score: 4.4/10

Value: 4.7

Growth: 3.1

Quality: 3.0

Yield: 4.4

Momentum: 9.5

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
Starrag

A-Score: 4.0/10

Value: 8.5

Growth: 2.7

Quality: 3.6

Yield: 5.6

Momentum: 0.5

Volatility: 3.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

13.95$

Current Price

13.95$

Potential

-0.00%

Expected Cash-Flows