Fund interest ignites Bff at Piazza Affari, analysts say 'next quarters decisive'
The recovery comes after a critical period for the company's share price, with capitalisation down more than 60% since the beginning of February. But new CEO Sica assures: 'We are doing better than the market perceived' and does not rule out a return to the coupon as early as 2026
(Il Sole 24 Ore Radiocor) - The hypothesis of investment funds ready to climb in the capital of Bff pushes the stock of the institution that travels to Piazza Affari with a rise of 5% in a session that marks instead "red" for much of the Milan stock exchange. The stock's recovery comes in any case after a critical period for the factoring company's share price, with Bff's capitalisation having fallen by more than 60% since the beginning of February, i.e. after the departure of the former CEO, the cut in targets and the extraordinary provisions to secure its profitability. But now the market seems to be betting on the entry of new shareholders. The new CEO Giuseppe Sica, in an interview with Radiocor on the eve of the meeting, explained how there are 'financial investors interested in growing in the capital' and that 'everything will be linked to the ability to do well in the next two quarters to reassure the market'.
The company's resilience, he added, is visible in the numbers: 'If you look at our liquidity ratios at the end of 2025, I think few banks have such high levels. Funding is definitely under control'. This while the first quarter of the year, albeit ongoing, 'is going better than the market perceived' and a return to the coupon as early as 2026 is not ruled out: 'That is the expectation, if we do the right things'.
Analysts say 'important will be to reassure the market'
Equita's analysts underline, in the wake of Sica's words, the possibility of new developments in the shareholding structure, 'with Banca d'Italia urging maximum discontinuity'. The preferable option, according to other rumours, 'would be that of a buyer with broader shoulders, who could enter after the sale of the depository bank business'. However, one would not look to large groups, but to 'specialised operators including Cf+ (controlled by Elliott) or Aidexa'. According to the broker, 'execution in the coming quarters will be important to improve visibility on the evolution of the business and reassure the market on the various risks present'. In the meantime, the stock is registering an initial recovery at Piazza Affari.
