Italian cable maker IRCE's H1 revenue rises on higher copper prices
Italian cable maker IRCE's H1 revenue rises on higher copper prices
Overview
Italy winding wires maker's H1 2026 consolidated revenue grew 9.4% yr/yr, driven by higher copper prices
Net income for H1 2026 rose yr/yr amid weak market demand and declining sales volumes
Company cited loss of sales from Dutch subsidiary closure and difficulties in automotive, appliance markets
Outlook
Company says ongoing conflicts and rising costs are creating uncertainty for market prospects
IRCE continues rationalization efforts and medium- to long-term growth strategy in energy transition sectors
Output continues to increase at Czech plant; system installations underway in China
Result Drivers
COPPER PRICES - Co said revenue growth was driven by higher copper prices, despite declining sales volumes
MARKET DEMAND - Co cited weak demand and declining sales volumes across business lines, especially in automotive and appliance sectors
SUBSIDIARY CLOSURE - Co said loss of sales from Dutch subsidiary closure contributed to winding wires segment decline
Company press release: ID:nBIA2h13NB
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| EUR 223.35 mln |
|
H1 Net Income |
| EUR 7.29 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for IRCE SpA is €2.90, about 25% above its September 10 closing price of €2.32
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago
Reuters Recommended Reads
Sept 8 - Italy targets banks in revenue hunt for 2027 budget
Sept 9 - Italian banks' lending to firms accelerates in July
Sept 10 - Italy's Orsero H1 revenue rises on high value fruit
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)