This indication is confirmed by the results of the first three months of 2020. Despite the economic crisis triggered by the Covid-19 pandemic, the quarterly report reported excellent data. Net Revenues for the first quarter of 2020 amounted to 97.9 million Euros, an increase of 11.0% compared to 88.3 million Euros in the first quarter of 2019.
The president of the group Massimo Perotti commented on the quarterly data
The results of the first months of 2020 once again confirm the validity of our business model which is resilient in the various phases of the economic cycle.
It was thus possible – added Perotti – to reopen the construction sites quickly and in complete safety, reducing the overall suspension of activities to just 28 days. Since March, a plan to contain operating costs and deferred investments has been implemented, keeping those related to new products, innovation and sustainability unchanged. The measures put in place, combined with the important visibility provided by the order portfolio of 500 million Euros, 92% of which is covered by end customers, allow us to predict a trend for the current year in line with the results of 2019.
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Buy now or wait? The indications of the graphical and forecast analysis
The Sanlorenzo share (MIL: SL) closed the session on May 22, up 1.6% compared to the previous session at € 13.31.
The projection in progress on the daily time frame is bullish and has the price target in the area at € 16.05. The other bullish targets, then, are those indicated in the red box shown on the following figure.
Since the prices are very close to the support in the € 13.2491 area, there are ideal conditions to enter the upside on the stock. It could, in fact, go upwards with stops in the case of daily closings of less than € 13.2491. In this way the risk of loss is very limited.