olivLaw · European equity research
Netweek S.p.A. OPR.MI
Italy · Euronext Milan · ISIN IT0005545675 · Vertical: Listed companies from Italy
Netweek is an Italian local publishing and communications group with print, digital and regional TV assets that expanded through mergers and contributions in 2023. Its financial position remains strained: the consolidated loss reached 13.4 million EUR and net debt stood at 8.0 million EUR.
At the close of 04 Nov 2026, Netweek S.p.A. (OPR.MI) stock was 0.01 EUR (+0.00% on the day), with market capitalisation 533.2 k EUR, beta -0.06, 52-week range 0.01–0.05 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 41.8
- weak (30–45)
- Bollinger (20, 2)
- 0.01 – 0.01
- in the lower half of the band · %B 0.38 · band width 7.7%
- SMA 50 / 200
- 0.01 / 0.03
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | unavailable | −0.6% | unavailable | — |
| 3 months | unavailable | −4.2% | unavailable | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | −73.0% | +7.5% | −80.5 pp | — |
| 1 year | −74.7% | +9.9% | −84.6 pp | −6.1% |
| 3 years | −94.7% | +49.8% | −144.5 pp | +7.7% |
| 5 years | −98.2% | +42.8% | −141.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue | 23.1 m | 22.1 m | 24.5 m |
| Revenue YoY | unavailable | −4.1% | +10.9% |
| Net income | -1.6 m | -1.8 m | -13.4 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -0.01 | -0.01 | -0.27 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -7.0% | -8.0% | -54.6% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2023 · 31 Dec 2023
- Cash
- 82.0 k EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 13.3 m EUR
- Total assets
- 53.1 m EUR
- Debt / equity
- unavailable
- Current ratio
- 0.62x
- ROE
- unavailable
- ROA
- -34.4%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 23.1 m | 22.1 m | 24.5 m | esef· 28 May 2024verified |
| Operating income | -1.4 m | -2.0 m | -13.1 m | esef· 28 May 2024verified |
| Depreciation & amortisation | 1.4 m | 1.4 m | 1.8 m | esef· 28 May 2024verified |
| EBITDA | -36.0 k ≈ | -594.0 k ≈ | -11.3 m ≈ | esef· 28 May 2024derived |
| Interest expense | 178.0 k | 112.0 k | 353.0 k | esef· 28 May 2024verified |
| Pre-tax income | -1.7 m | -2.1 m | -13.4 m | esef· 28 May 2024verified |
| Income tax | 34.0 k | -240.0 k | -4.0 k | esef· 28 May 2024verified |
| Net income | -1.6 m | -1.8 m | -13.4 m | esef· 28 May 2024verified |
| Diluted EPS | -0.01 | -0.01 | -0.27 | esef· 28 May 2024verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Cash | 333.0 k | 307.0 k | 82.0 k | esef· 28 May 2024verified |
| Receivables | 9.9 m | 12.2 m | 14.9 m | esef· 28 May 2024verified |
| Inventories | 270.0 k | 325.0 k | 134.0 k | esef· 28 May 2024verified |
| Current assets | 10.9 m | 13.4 m | 15.7 m | esef· 28 May 2024verified |
| Property, plant & equipment, net | 2.2 m | 2.2 m | 2.3 m | esef· 28 May 2024verified |
| Goodwill | 2.6 m | 2.8 m | 25.0 m | esef· 28 May 2024verified |
| Intangibles (excl. goodwill) | 3.1 m | 2.8 m | 3.5 m | esef· 28 May 2024verified |
| Total assets | 22.7 m | 24.7 m | 53.1 m | esef· 28 May 2024verified |
| Accounts payable | 9.8 m | 12.8 m | 16.5 m | esef· 28 May 2024verified |
| Current liabilities | 17.4 m | 20.1 m | 25.3 m | esef· 28 May 2024verified |
| Total liabilities | 28.1 m | 31.4 m | 39.7 m | esef· 28 May 2024verified |
| Equity | -5.4 m | -6.6 m | 13.3 m | esef· 28 May 2024verified |
| Shares outstanding at year end | 134.1 m | 135.7 m | 48.9 m | esef· 28 May 2024derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 3 of at least 6
- score weight coverage: 16.7% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 533.2 k EUR
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
17% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -54.6% | 3 (vs peers) | 38% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -37.0x | 0 (on a fixed band) | 38% |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 25% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial3/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
NETWEEK S.P.A. (OPR.MI). Latest full fiscal year: 2023; data up to 2023-12-31.
Figures computed from the financial statements: revenue 24.5 m EUR in 2023; YoY growth 10.9%; net margin -54.6%; ROE -337.0%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -54.6%
- Interest coverage: -37.0x
- Current ratio: 0.6x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Italy · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| DLG.MIDe' Longhi S.p.a. | 6.8 bn | 21.5 | 15.4% | 8.4% | +8.7% | +24% / +60% |
| ACE.MIAcea S.p.a. | 4.6 bn | 9.6 | 18.2% | 16.6% | +0.2% | −4% / +73% |
| DIA.MIDiasorin S.p.a. | 4.3 bn | 28.3 | 9.2% | 13.0% | +0.8% | +31% / −7% |
| CRL.MICarel Industries S.p.a. | 2.9 bn | 39.5 | 16.1% | 11.7% | +8.7% | +3% / +10% |
| AMP.MIAmplifon S.p.a. | 2.7 bn | 29.9 | 8.5% | 3.8% | −0.6% | −9% / −58% |
| CMB.MICembre S.p.a. | 1.3 bn | 27.0 | 20.6% | 18.9% | +6.7% | +11% / +108% |
| COM.MIComer Industries S.p.a. | 1.3 bn | 18.6 | 12.8% | 7.1% | −23.0% | +8% / +64% |
| DNR.MIIndustrie De Nora S.p.a. | 1.1 bn | 13.4 | 8.6% | 9.4% | +1.4% | −22% / −62% |
| ARN.MIAlerion Clean Power S.p.a. In Forma Abbreviata Alerion S.p.a. | 969.2 m | 10.4 | 23.5% | 41.0% | +1.8% | −5% / −23% |
| AVIO.MIAvio S.p.a. | 883.6 m | 86.8 | 2.1% | 1.8% | +21.5% | +18% / +291% |
| CIR.MICir S.p.a. - Compagnie Industriali Riunite | 783.3 m | 6.0 | 17.1% | 7.3% | +1.6% | +4% / +72% |
| ASC.MIAscopiave S.p.a. | 646.3 m | 18.0 | 4.2% | 17.5% | +13.4% | −8% / +33% |
| AC5.MIAcinque S.p.a. | 412.6 m | 19.6 | 4.1% | 3.6% | +0.2% | −6% / +8% |
| BAN.MIBasic Net S.p.a. | 348.0 m | — | -4.9% | -3.5% | +0.4% | −30% / +5% |
| ADB.MIAeroporto Guglielmo Marconi Di Bologna S.p.a. | 324.7 m | 13.1 | 11.1% | 13.7% | +9.2% | −2% / +12% |
| CAI.MICairo Communication S.p.a. | 289.2 m | 6.4 | 8.1% | 4.4% | −1.3% | −22% / +28% |
| ECNL.MIAquafil S.p.a. | 129.6 m | — | -3.2% | -0.9% | −3.9% | −1% / −52% |
| BEC.MIB&C Speakers S.p.a. | 118.7 m | 11.7 | 18.5% | 10.2% | −1.3% | −26% / −32% |
| ABT.MIAbitare In S.p.a. | 76.0 m | 276.0 | 0.4% | 0.4% | +39.8% | −6% / −47% |
| ELC.MIElica S.p.a. | 64.3 m | — | -7.8% | -2.2% | +1.9% | −34% / −48% |
| DEX.MIDexelance S.p.a. | 50.7 m | 2.8 | 11.0% | 5.4% | +12.6% | −63% / −78% |
| CLE.MIClass Editori S.p.a. | 35.1 m | — | -29.2% | -3.8% | −0.7% | −9% / +106% |
| CLF.MICaleffi - S.p.a. | 11.6 m | 5.2 | 10.9% | 3.8% | −2.5% | −4% / −10% |
| AEF.MIAeffe S.p.a. | 10.1 m | 0.5 | 21.9% | 7.7% | −21.3% | −59% / −86% |
| BC.MIBrunello Cucinelli S.p.a. | 6.2 m | 0.0 | 26.5% | 75,526.1% | 0.0% | −5% / +15% |
1- and 3-year price returns: for OPR.MI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Netweek is an Italian local publishing and communications group with print, digital and regional TV assets that expanded through mergers and contributions in 2023. Its financial position remains strained: the consolidated loss reached 13.4 million EUR and net debt stood at 8.0 million EUR 1.
SWOT
Strengths
- A consolidated position of more than fifty years in local communications in northern Italy, with integrated publications and TV.
- Broader coverage through contributions and acquisitions, including circuit channels authorised at national level.
- Equity turned positive at consolidated level after the 2023 transactions, according to the report.
Weaknesses
- A consolidated net loss in 2023 and overdue tax, social security and trade payables.
- Reliance on convertible financing, with progressive dilution of shares through repeated conversions.
- High short-term indebtedness, and management has flagged a situation of financial tension.
Opportunities
- If the Telecity acquisition is completed, the group could extend TV coverage across several regions.
- A shift to digital could reduce the production and distribution costs of paper press.
- Consolidating regional publications could create editorial and commercial synergies across existing channels.
Threats
- If financial tensions persist, additional funding could become more expensive or harder to obtain.
- Geopolitical uncertainty and climate risks may affect the cost of paper and the distribution chain.
- Cybersecurity and personal data protection risks could affect reader trust.
Risks
- Financial tension and going concernhigh
The report describes a situation of strong financial tension, with overdue payables and repeated losses, which raises questions about business continuity 1.
- Dilution through conversionshigh
The convertible bond with warrants has led to repeated issues of new shares at falling prices, diluting existing shareholders 1.
- Telecity acquisition riskmedium
Completion depends on authority clearances, and part of the funding could come from medium- to long-term instruments 1.
- Climate and paper supply risksmedium
Forest fires in paper supply areas and transport disruptions could affect costs and revenues 1.
- Cybersecurity and personal datalow
Growth in digital products brings data protection risks, with an impact on reader trust 1.
Investment thesis
What would need to be true (bull case)
- If consolidation and acquisitions proceed as planned, the group could benefit from wider coverage and synergies between publications and television.
- Positive equity after the contributions could support access to additional funding if operating results improve.
- A shift to digital could reduce dependence on paper costs and improve distribution efficiency.
What would break the thesis
- Repeated losses and overdue payables could limit the group's financial flexibility.
- Ongoing conversions of the loan could significantly dilute existing shareholders in the short term.
- Dependence on authority approvals and medium-term funding for Telecity could delay or reduce the benefits of the acquisition.
What to watch
- Completion of the Telecity acquisition and authority approvals2024
- Trend in the net loss and net debtnext 10-K
- Number of new shares issued through conversions2024
- Measures to rebalance overdue payables2024
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The Netweek group operates in local publishing, mainly print and online media, and in local television. In 2023 it absorbed Media Group S.r.l. by merger, which raised its share capital, and received through contribution the company Rete7 S.r.l., which controls Canale Marche 1. These transactions extended regional TV coverage in Valle d’Aosta, Liguria and other areas 1.
The annual report stresses that the group faces strong financial tension, with significant overdue tax, social security and trade payables, and that business continuity depends on the success of consolidation measures 1.
Segments
Local media (print and online)
The traditional segment includes weekly and daily online titles in Liguria and northern Italy, where the group has held a competitive position for over 50 years 1.
Local radio and TV broadcasters
The local TV segment grew through TVdA, Telegenova and, under a framework agreement, four Telecity broadcasters in Lombardy, Piedmont, Liguria and Valle d’Aosta, whose acquisition was expected in the first half of 2024 1.
Digital platforms
Digital products are gradually replacing paper products, which reduces exposure to the price of paper as a raw material, according to the report 1.
Market context
The Italian local publishing and communications market is fragmented, and consolidation through acquisitions is the group's stated strategy. The report gives no market figures, so the size of the segment cannot be estimated from this source 1.
Authorisation from the Ministry of Enterprises and Made in Italy for the circuit channels LCN 72 and LCN 74, broadcast in 14 regions, shows that the group pursues national reach through regional networks 1.
Trends
- Shift from paper to digitalmixed
Traditional paper products are gradually moving to digital formats, which could reduce raw material and distribution costs but changes the revenue model 1.
- Consolidation in local publishingtailwind
Acquisitions and asset contributions in 2023 point to a trend of integrating regional TV and publications into one group 1.
- Geopolitical uncertaintyheadwind
The conflicts in Ukraine and the Middle East have created general uncertainty, although the group says it has no direct exposure to those markets 1.
- Data protection and cybersecurityheadwind
Digitalisation and customer-centric strategies increase cybersecurity and personal data protection risks, which are essential to reader trust 1.
Competitive position
The annual report does not explicitly name competitors. The local press and television market includes several regional players, and Netweek states that it holds consolidated positions in the North-West 1.
Because the source names no other operators, market share comparisons cannot be drawn from these documents, and the competitors listed below are indicative and not sourced from the filing.
- Regional local press publishers
Direct competition for local advertising and readers in Liguria and Lombardy; not named in the source.
- Local TV broadcasters
Competition for audience and advertising on regional channels, including the Telecity and Telegenova areas.
- Digital news platforms
Competition for online traffic and digital advertising in the areas covered by the group.
- National media groups
Indirect competition for advertising budgets and audience attention in the regions.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202328 May 2024
- Annual report 202230 May 2023
Sources
- [1] Annual report, fiscal year ended 2023-12-31 (ESEF) · SEC / Netweek S.p.A. · 31 Dec 2023
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.