Alantra has been appointed Corporate Broker to Next Geosolutions

Oct 2024

Corporate Broker

Milan – Alantra has been appointed as Corporate Broker to Next Geosolutions Spa and has initiated coverage by the Alantra Italian Equity Research team.

With €149mn revenues, 27% EBITDA and 41% ROCE in 2023, Next Geosolutions Europe conducts subsea surveys, encompassing geophysical and geotechnical aspects, to map marine soil characteristics and acquire detailed soil data through drilling.

Founded in 2014 and listed on the Euronext Growth Milan segment last 22-May, the group has gained an established track-record by serving clients active primarily in the submarine cables & wind farm industries.

With a backlog of €305mn at end-Jun, a projected 23% EBIT CAGR in 2023-26E and a strong competitive positioning, Next Geosolutions Europe stands out as a promising opportunity for long-term investment.

Alantra initiated coverage with BUY rating and target price of €10.4/share.