GBC AG Initiates Coverage on Somec S.p.A.: Margin Expansion in Sight

GBC AG, the research and investment firm focusing on European small and mid-cap companies, has begun covering Somec S.p.A., an Italian engineering group. Somec, listed on Euronext Milan, excels in maritime glazing, complex façade systems, and custom interiors, underlining its niche leadership.

Established in 1978, Somec operates through three segments: Horizons, Talenta, and Mestieri. With over 1,000 employees and 18 production sites across three continents, it is a leader in value-added industrial engineering.

In 2024, Somec reported revenues of €382.8 million, with a 62.7% rise in EBITDA. A €744 million order backlog provides visibility and stability, especially in the high-margin marine sector. Consequently, GBC AG rates Somec as a BUY with a €22.50 price target.

Manuel Hölzle, GBC AG's Chief Analyst, highlights the company's strategic niche positioning and growth potential, particularly in cruise and façade markets.