Added to YB: 2026-02-23
Pitch date: 2026-02-19
CIRC.MI [bullish]
Circle S.p.A.
+1.33%
current return
Author Info
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Company Info
Circle S.p.A., together with its subsidiaries, provides management consultancy, IT, and software solutions for the port, maritime, and logistics sectors in Italy.
Market Cap
EUR 42.8M
Pitch Price
EUR 9.02
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.72
P/E
N/A
EV/Sales
2.81
Sector
Professional Services
Category
growth
Circle S.p.A. - $CIRC.MI
CIRC.MI: Italian micro-cap providing mission-critical port/customs digitalization software. 25% revenue CAGR since 2012. Shifting to recurring SaaS/PPU models (42% of H1'25 rev, up 105% YOY proprietary software). Regulation-driven demand (eFTI mandate by 2027). EUR 31M backlog. Guides EUR 24-26.4M VoP in '25, EUR 5-5.7M EBITDA. Currently 6.7x EV/EBITDA '26E, 13.1x EV/EBIT '26E. M&A at <5x. Risks: regulatory delays, larger competitors, project lumpiness, protectionism.
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