Reported Earnings • Apr 09
Full year 2025 earnings released: EPS: €0 (vs €0.018 in FY 2024) Full year 2025 results: EPS: €0 (down from €0.018 in FY 2024). Revenue: €1.59b (down 8.9% from FY 2024). Net income: €98.0k (down 98% from FY 2024). Profit margin: 0% (down from 0.3% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Anuncio • Mar 31
Immsi S.p.A., Annual General Meeting, Apr 30, 2026 Immsi S.p.A., Annual General Meeting, Apr 30, 2026, at 09:30 W. Europe Standard Time. New Risk • Nov 30
New major risk - Revenue and earnings growth Earnings have declined by 11% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 11% per year over the past 5 years. New Risk • Sep 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 229% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.06% net profit margin). Reported Earnings • Sep 22
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €502.7m (down 13% from 2Q 2024). Net income: €7.37m (down 24% from 2Q 2024). Profit margin: 1.5% (down from 1.7% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • May 17
First quarter 2025 earnings released First quarter 2025 results: Revenue: €385.2m (down 11% from 1Q 2024). Net loss: €982.0k (down 155% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • May 12
Upcoming dividend of €0.012 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.5%. Lower than top quartile of Italian dividend payers (5.4%). In line with average of industry peers (4.9%). New Risk • Jan 13
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 17
Third quarter 2024 earnings released: €0.003 loss per share (vs €0.009 profit in 3Q 2023) Third quarter 2024 results: €0.003 loss per share (down from €0.009 profit in 3Q 2023). Revenue: €377.8m (down 18% from 3Q 2023). Net loss: €878.0k (down 128% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Reported Earnings • Sep 06
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €578.9m (down 8.3% from 2Q 2023). Net income: €9.71m (down 29% from 2Q 2023). Profit margin: 1.7% (down from 2.2% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Jul 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (0.8% net profit margin). New Risk • Jun 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.8% Last year net profit margin: 1.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (0.8% net profit margin). Upcoming Dividend • May 13
Upcoming dividend of €0.025 per share Eligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 8.8%. Within top quartile of Italian dividend payers (5.4%). Higher than average of industry peers (6.2%). Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. Independent Director Giulia Molteni was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Dec 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 17
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €460.1m (down 21% from 3Q 2022). Net income: €3.14m (down 61% from 3Q 2022). Profit margin: 0.7% (down from 1.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 07
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €631.1m (up 3.4% from 2Q 2022). Net income: €13.7m (up 1.7% from 2Q 2022). Profit margin: 2.2% (in line with 2Q 2022). Reported Earnings • May 21
First quarter 2023 earnings released First quarter 2023 results: Revenue: €556.4m (up 19% from 1Q 2022). Net income: €5.89m (up 360% from 1Q 2022). Profit margin: 1.1% (up from 0.3% in 1Q 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • May 15
Upcoming dividend of €0.039 per share at 6.7% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 6.7%. Within top quartile of Italian dividend payers (5.3%). Higher than average of industry peers (5.7%). Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €580.3m (up 35% from 3Q 2021). Net income: €8.06m (up €8.11m from 3Q 2021). Profit margin: 1.4% (up from 0% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 07
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €610.4m (up 16% from 2Q 2021). Net income: €13.4m (up 6.6% from 2Q 2021). Profit margin: 2.2% (down from 2.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • May 09
Upcoming dividend of €0.03 per share Eligible shareholders must have bought the stock before 16 May 2022. Payment date: 18 May 2022. The company last paid an ordinary dividend in August 2011. The average dividend yield among industry peers is 6.2%. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: €0.036 (vs €0.029 in FY 2020) Full year 2021 results: EPS: €0.036 (up from €0.029 in FY 2020). Revenue: €1.71b (up 24% from FY 2020). Net income: €12.3m (up 26% from FY 2020). Profit margin: 0.7% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: €0.036 (vs €0.029 in FY 2020) Full year 2021 results: EPS: €0.036 (up from €0.029 in FY 2020). Revenue: €1.71b (up 24% from FY 2020). Net income: €12.3m (up 26% from FY 2020). Profit margin: 0.7% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 08
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €527.1m (up 75% from 2Q 2020). Net income: €12.6m (up 462% from 2Q 2020). Profit margin: 2.4% (up from 0.7% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • May 17
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €393.6m (up 20% from 1Q 2020). Net income: €2.04m (up €2.77m from 1Q 2020). Profit margin: 0.5% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 13
New 90-day high: €0.47 The company is up 22% from its price of €0.38 on 13 November 2020. The Italian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto industry, which is up 17% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: €0.42 The company is up 7.0% from its price of €0.39 on 28 August 2020. The Italian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is up 37% over the same period. Is New 90 Day High Low • Oct 16
New 90-day low: €0.34 The company is down 15% from its price of €0.40 on 17 July 2020. The Italian market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is up 12% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: €0.35 The company is down 12% from its price of €0.40 on 26 June 2020. The Italian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto industry, which is up 19% over the same period. Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total losses of €3.37m, with earnings decreasing by €17.6m from the prior year. Total revenue was €1.37b over the last 12 months, down 11% from the prior year.