Profile
DHH is a publicly-traded company with shares listed on AIM Italia, a Multilateral Trading Facility regulated by Borsa Italiana and registered as a SME Growth Market.
DHH’s investment objective is to provide above average long-term capital appreciation for shareholders by investing in privately owned companies in two primary business segments: Cloud computing and Web hosting in the emerging digital economies. Through ownership of DHH stock, investors are getting access to one of the most attractive private markets characterised by high growth at a reasonable price compared to more mature geographies. To achieve this objective DHH is proactively sourcing buy and hold investment opportunities with the best potential to create long-term shareholder value for its public market investors.
Value Creation
DHH creates value executing a sound M&A strategy, which aims at substantially increasing the intrinsic value of acquired companies in the very short term after the completion of the deal.
This strategy is based on the following pillars:
1) proposing a fair valuation for the acquisition, not over-paying the companies;
2) structuring a deal where the entrepreneurs have strong incentives to stay in the company after the acquisition with the goal of growing the main business KPIs: revenue, EBITDA, net profit, free cash flow;
3) cleaning-up the companies from the costs not connected to the core business, which are a constant in the world of SMEs;
4) implementing a control management system in companies, so to improve the budgeting and planning process, which is usually non-existent in the SMEs;
5) representing companies’ financials in the best possible way, communicating the meaning behind the numbers.
Thanks to this approach, in the last 3 years DHH invested 6M EUR in M&A deals and the portfolio companies are now worth more than 10M EUR.
DHH Stock
Information for Shareholders
Details
Ticker: DHH
ISIN Codes 1: IT0005203622 (ordinary shares)
ISIN Codes 2: IT0005203663 (ordinary shares with bonus shares)
ISIN Codes 3: IT0005203689 (warrants)
Market: AIM Italia/MAC
SDIR: eMarket SDIR managed by Spafid Connect S.p.A.
Advisors
Nomad: Advance SIM S.p.A.
Specialist: CFO SIM S.p.A.
Auditor: BDO Italia S.p.A.
Financial Performance
Highlights
– Double-digit growth on all the main financial KPIs (net sales, EBITDA, net profit)
– Cashflow before NWC changes up 31%
– Continuing growth in sales across all subsidiaries
– Improved EBITDA margin, as operating expenses scale with revenue
– Strong net cash position and almost zero debt
– Robust cash conversion – OCF/EBITDA = 100%
* The consolidated pro forma is not audited by the audit firm but it has been checked only the mathematics accuracy.
Largest shareholders
Analyst coverage
COMPANY
ValueTrack
ANALYST
Marco Greco
+39 02 8088 6654
marco.greco@value-track.com
Pietro Nargi
pietro.nargi@value-track.com
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