Farmacosmo (COSMO) is a Health, Pharma & Beauty e-retailer for OTC and SOP pharmaceuticals (without prescription) and BPC (beauty and personal care) SKUs. COSMO also boasts pharmacies and digital health services.
With 1H24 results substantially coherent with our FY estimates, we only fine-tuned our top line forecasts to account for a stronger-than-expected speed of the B2B voluntarily decline, a more controlled growth of Pharmasi and ProfumeriaWeb, and a slightly lower ramp-up of ContactU.
We have revised our Fair Equity Value to €1.20 p/s
