Added to YB: 2026-04-16
Pitch date: 2026-04-14
IIT.F [neutral]
CSP International Fashion Group S.p.A.
Author Info
Dismissed & Asset Backed has their heads stuck in 10Ks and 10Qs of 'old world' businesses trading below tangible book value. Sign up for the newsletter.
Company Info
CSP International Fashion Group S.p.A. produces and sells hosiery and underwear in Italy, France, European Union, and internationally.
Market Cap
EUR 12.2M
Pitch Price
EUR 0.31
Price Target
0.90 (+185%)
Dividend
N/A
EV/EBITDA
5.33
P/E
568.31
EV/Sales
0.19
Sector
Textiles, Apparel and Luxury Goods
Category
value
CSP International (CSP) – An Italian Hosiery Net-net with Hidden Real Estate Values
IIT.F (quick overview): Italian hosiery co at 0.60x NCAV (near ATL 0.51x), 0.35x TB. Sales declined €135M→€88M since 2012 despite M&A. Hidden RE value €12.3M (33% equity boost). V2D acquisition (€3.2M) adds €14M sales. F-Score 8. 3yr base: 14% CAGR to €0.45. M&A exit at 0.40x sales = €0.90 (200% upside). Risks: weak margins, capital intensive, sales decline.
Read full article (8 min)