Yoox, the most expensive stock in the MIB index!

(CercleFinance.com) - Is the excellent performance of the Yoox stock over yet? Featuring in the Milan benchmark index, the FTSE MIB, which has risen by 11% since the start of 2014, the Yoox stock has outperformed significantly, rising 24% to 24.
9 euros. However, it is still the most expensive of the 40 shares in the MIB, trading at a P/E of over 80x.

Created in 2000, Yoox is a specialist in upmarket online retail, with sites such as yoox.com, thecorner.com and shoescribe.com. Thanks to its expertise, it has also created the commercial sites for brands such as Armani and those of the French group Kering.

Floated at 4.30 euros in December 2009, the Yoox action is undoubtedly a huge success story for its founder Federico Marchetti and those who have accompanied him. A rumour about a takeover bid from Richemont was denied last year. However, after peaking at over 35 euros in January, the Yoox share had experienced a sharp correction, unlike the FTSE MIB index.

In 2013, sales growth reached 21.2% at 455.6 million euros. Its operating margin rose by 0.2 percentage points to 5.2%, while its consolidated net profit increased 23.9% to 12.6 million euros (0.20 euros per share).

In 2014, the consensus anticipates strong growth in earnings per share of 0.30 euro, before 0.41 euro in 2015.

However, we need to be cautious: the share is still up 83% y-o-y and its market capitalisation is verging on 1.5 billion euros. Trading at a very high 2014 P/E of 82x, is remains above that of the UK group Asos (74x), another dynamic sector player. It is also the highest of the 40 stocks in the FTSE MIB index.

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