Major Estimate Revision • May 20
Consensus EPS estimates increase by 36%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from €189.2m to €185.8m. EPS estimate rose from €0.445 to €0.605. Net income forecast to shrink 29% next year vs 51% growth forecast for Forestry industry in Italy . Consensus price target up from €5.07 to €5.77. Share price rose 9.7% to €4.19 over the past week. Price Target Changed • May 18
Price target increased by 10% to €5.47 Up from €4.95, the current price target is an average from 3 analysts. New target price is 33% above last closing price of €4.10. Stock is up 35% over the past year. The company is forecast to post earnings per share of €0.60 for next year compared to €0.54 last year. Upcoming Dividend • May 18
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 25 May 2026. Payment date: 27 May 2026. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Italian dividend payers (4.5%). In line with average of industry peers (4.0%). Reported Earnings • May 14
First quarter 2026 earnings released: EPS: €0.40 (vs €0.06 in 1Q 2025) First quarter 2026 results: EPS: €0.40 (up from €0.06 in 1Q 2025). Revenue: €48.8m (up 11% from 1Q 2025). Net income: €5.52m (up €4.74m from 1Q 2025). Profit margin: 11% (up from 1.8% in 1Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 2.4% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 19
Dividend of €0.15 announced Dividend of €0.15 is the same as last year. Ex-date: 25th May 2026 Payment date: 27th May 2026 Dividend yield will be 4.2%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 6.6% over the next 3 years. However, it would need to fall by 69% to increase the payout ratio to a potentially unsustainable range. Anuncio • Mar 18
Neodecortech S.p.A. announces Annual dividend, payable on May 27, 2026 Neodecortech S.p.A. announced Annual dividend of EUR 0.1500 per share payable on May 27, 2026, ex-date on May 25, 2026 and record date on May 26, 2026. Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: €0.54 (vs €0.29 in FY 2024) Full year 2025 results: EPS: €0.54 (up from €0.29 in FY 2024). Revenue: €187.9m (up 9.4% from FY 2024). Net income: €7.33m (up 81% from FY 2024). Profit margin: 3.9% (up from 2.4% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 2.3% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 06
Now 21% undervalued Over the last 90 days, the stock has risen 21% to €3.74. The fair value is estimated to be €4.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 3.2% in 2 years. Earnings are forecast to decline by 2.2% in the next 2 years. Anuncio • Nov 27
Neodecortech S.p.A. (BIT:NDT) completed the acquisition of Lamitex S.P.A. for €8.1 million. Neodecortech S.p.A. (BIT:NDT) signed a binding agreement acquire Lamitex S.P.A. for €8.1 million on November 25, 2025. The total purchase price, which is not subject to adjustment mechanisms, is equal to €8.38 million, which will be paid for €7.5 million in cash and for the remaining €0.88 million through the transfer of 189,247 treasury shares of NDT at a unit price of €4.65 each. At the closing date, the treasury shares indicated will be transferred in full and, using available resources, a total amount of €3.5 million will be paid in cash. The remaining portion of the consideration, equal to €4.0 million, will be paid in two equal tranches respectively 6 months and 12 months after closing. Within the Neodecortech Group, Lamitex will remain a separate legal entity. In the 2024 financial year, Lamitex S.P.A. achieved a turnover of €12.8 million with an EBITDA of €1.8 million.
Studio Legale Associato Deloitte acted as legal advisor for Neodecortech S.p.A. Deloitte Financial Advisory Services S.p.A. acted as financial advisor for Neodecortech S.p.A. Colla Di Piazza acted as legal advisor for Lamitex S.P.A.
Neodecortech S.p.A. (BIT:NDT) completed the acquisition of Lamitex S.P.A. on November 26, 2025. Major Estimate Revision • Nov 20
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from €0.377 to €0.419. Revenue forecast steady at €177.4m. Net income forecast to shrink 15% next year vs 30% growth forecast for Forestry industry in Italy . Consensus price target broadly unchanged at €4.95. Share price rose 3.8% to €3.24 over the past week. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: €0.18 (vs €0.074 in 3Q 2024) Third quarter 2025 results: EPS: €0.18 (up from €0.074 in 3Q 2024). Revenue: €49.0m (up 32% from 3Q 2024). Net income: €2.48m (up 160% from 3Q 2024). Profit margin: 5.1% (up from 2.6% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Major Estimate Revision • Aug 11
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from €174.2m to €176.2m. EPS estimate increased from €0.323 to €0.377 per share. Net income forecast to shrink 3.0% next year vs 25% growth forecast for Forestry industry in Italy . Consensus price target up from €4.65 to €4.88. Share price rose 6.9% to €3.08 over the past week. Price Target Changed • Aug 08
Price target increased by 7.4% to €4.73 Up from €4.40, the current price target is an average from 2 analysts. New target price is 53% above last closing price of €3.08. Stock is down 1.9% over the past year. The company is forecast to post earnings per share of €0.34 for next year compared to €0.29 last year. Reported Earnings • Aug 06
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €47.5m (up 11% from 2Q 2024). Net income: €2.02m (up 234% from 2Q 2024). Profit margin: 4.3% (up from 1.4% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Forestry industry in Europe. Buy Or Sell Opportunity • May 16
Now 20% undervalued Over the last 90 days, the stock has risen 5.6% to €3.00. The fair value is estimated to be €3.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.6% over the last 3 years. Earnings per share has declined by 59%. Revenue is forecast to grow by 4.8% in 2 years. Earnings are forecast to grow by 40% in the next 2 years. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: €0.057 (vs €0.04 in 1Q 2024) First quarter 2025 results: EPS: €0.057 (up from €0.04 in 1Q 2024). Revenue: €43.9m (flat on 1Q 2024). Net income: €782.0k (up 28% from 1Q 2024). Profit margin: 1.8% (up from 1.4% in 1Q 2024). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 12
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Italian dividend payers (5.5%). Higher than average of industry peers (4.2%). Buy Or Sell Opportunity • Apr 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to €2.52. The fair value is estimated to be €3.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 55%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 34% per annum over the same time period. New Risk • Nov 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.8x 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 Risks Interest payments are not well covered by earnings (1.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 116% Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (€40.4m market cap, or US$42.1m). Major Estimate Revision • Nov 21
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €169.0m to €158.4m. EPS estimate also fell from €0.24 per share to €0.185 per share. Net income forecast to grow 94% next year vs 13% growth forecast for Forestry industry in Italy. Consensus price target of €4.40 unchanged from last update. Share price was steady at €2.85 over the past week. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: €0.074 (vs €0.031 loss in 3Q 2023) Third quarter 2024 results: EPS: €0.074 (up from €0.031 loss in 3Q 2023). Revenue: €37.2m (down 5.9% from 3Q 2023). Net income: €956.0k (up €1.37m from 3Q 2023). Profit margin: 2.6% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Oct 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.6% to €3.08. The fair value is estimated to be €3.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 44%. Revenue is forecast to grow by 7.7% in 2 years. Earnings are forecast to grow by 1,000% in the next 2 years. Buy Or Sell Opportunity • Sep 02
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.1% to €3.06. The fair value is estimated to be €3.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 44%. Revenue is forecast to grow by 7.7% in 2 years. Earnings are forecast to grow by 1,000% in the next 2 years. New Risk • Aug 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x 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 Risks Interest payments are not well covered by earnings (2.0x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 116% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (€43.0m market cap, or US$47.0m). Reported Earnings • Aug 06
Second quarter 2024 earnings released: EPS: €0.052 (vs €0.16 in 2Q 2023) Second quarter 2024 results: EPS: €0.052 (down from €0.16 in 2Q 2023). Revenue: €42.8m (down 7.1% from 2Q 2023). Net income: €604.0k (down 74% from 2Q 2023). Profit margin: 1.4% (down from 5.1% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Aug 05
Now 21% undervalued Over the last 90 days, the stock has risen 10% to €3.10. The fair value is estimated to be €3.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Earnings per share has declined by 23%. Revenue is forecast to grow by 6.8% in 2 years. Earnings are forecast to grow by 137% in the next 2 years. New Risk • May 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.8x 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 (1.8x net interest cover). Minor Risks Dividend is not well covered by earnings (116% payout ratio). Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (€40.9m market cap, or US$44.4m). Reported Earnings • May 14
First quarter 2024 earnings released: EPS: €0.04 (vs €0.09 in 1Q 2023) First quarter 2024 results: EPS: €0.04 (down from €0.09 in 1Q 2023). Revenue: €43.5m (down 7.3% from 1Q 2023). Net income: €612.0k (down 51% from 1Q 2023). Profit margin: 1.4% (down from 2.7% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Mar 19
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €180.6m to €172.5m. EPS estimate also fell from €0.391 per share to €0.341 per share. Net income forecast to grow 77% next year vs 9.6% decline forecast for Forestry industry in Italy. Consensus price target broadly unchanged at €4.50. Share price was steady at €3.04 over the past week. Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: €0.20 (vs €0.60 in FY 2022) Full year 2023 results: EPS: €0.20 (down from €0.60 in FY 2022). Revenue: €168.8m (down 17% from FY 2022). Net income: €2.85m (down 66% from FY 2022). Profit margin: 1.7% (down from 4.1% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 4% per year. Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €176.5m to €167.9m. EPS estimate also fell from €0.367 per share to €0.283 per share. Net income forecast to grow 213% next year vs 32% decline forecast for Forestry industry in Italy. Consensus price target down from €4.75 to €4.43. Share price rose 2.9% to €2.83 over the past week. New Risk • Nov 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 124% 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 (0.4x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 116% 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 (0.9% net profit margin). Market cap is less than US$100m (€39.1m market cap, or US$42.5m). Reported Earnings • Nov 10
Third quarter 2023 earnings released: €0.029 loss per share (vs €0.13 profit in 3Q 2022) Third quarter 2023 results: €0.029 loss per share (down from €0.13 profit in 3Q 2022). Revenue: €39.5m (down 27% from 3Q 2022). Net loss: €414.0k (down 123% from profit in 3Q 2022). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Price Target Changed • Nov 09
Price target decreased by 13% to €4.43 Down from €5.10, the current price target is an average from 2 analysts. New target price is 61% above last closing price of €2.75. Stock is down 12% over the past year. The company is forecast to post earnings per share of €0.37 for next year compared to €0.60 last year. Reported Earnings • Sep 08
Second quarter 2023 earnings released: EPS: €0.17 (vs €0.27 in 2Q 2022) Second quarter 2023 results: EPS: €0.17 (down from €0.27 in 2Q 2022). Revenue: €46.4m (down 11% from 2Q 2022). Net income: €2.34m (down 40% from 2Q 2022). Profit margin: 5.0% (down from 7.5% in 2Q 2022). Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Jul 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 4.9% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (4.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.7% net profit margin). Market cap is less than US$100m (€42.7m market cap, or US$47.8m). Price Target Changed • Jun 28
Price target decreased by 7.8% to €4.70 Down from €5.10, the current price target is an average from 2 analysts. New target price is 64% above last closing price of €2.86. Stock is down 19% over the past year. The company is forecast to post earnings per share of €0.33 for next year compared to €0.60 last year. Upcoming Dividend • May 16
Upcoming dividend of €0.14 per share at 4.5% yield Eligible shareholders must have bought the stock before 23 May 2023. Payment date: 25 May 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Italian dividend payers (5.3%). Lower than average of industry peers (5.6%). Major Estimate Revision • May 15
Consensus EPS estimates increase by 18%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €183.0m to €176.9m. EPS estimate rose from €0.28 to €0.33. Net income forecast to shrink 12% next year vs 43% decline forecast for Forestry industry in Italy. Consensus price target of €4.80 unchanged from last update. Share price fell 7.0% to €3.07 over the past week. Reported Earnings • May 10
First quarter 2023 earnings released: EPS: €0.09 (vs €0.30 in 1Q 2022) First quarter 2023 results: EPS: €0.09 (down from €0.30 in 1Q 2022). Revenue: €49.4m (down 2.1% from 1Q 2022). Net income: €1.25m (down 70% from 1Q 2022). Profit margin: 2.5% (down from 8.4% in 1Q 2022). Revenue is forecast to decline by 2.6% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Price Target Changed • Dec 23
Price target decreased to €5.10 Down from €5.90, the current price target is an average from 2 analysts. New target price is 53% above last closing price of €3.34. Stock is down 24% over the past year. The company is forecast to post earnings per share of €0.63 for next year compared to €0.50 last year. Buying Opportunity • Dec 09
Now 21% undervalued Over the last 90 days, the stock is up 2.7%. The fair value is estimated to be €4.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 41%. Revenue is forecast to decline by 3.0% in 2 years. Earnings is forecast to decline by 38% in the next 2 years. Board Change • Nov 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Chairman of the Board of Directors Luca Peli is the most experienced director on the board, commencing their role in 2021. Independent Director Ida Altimare was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 09
Second quarter 2022 earnings released: EPS: €0.27 (vs €0.10 in 2Q 2021) Second quarter 2022 results: EPS: €0.27 (up from €0.10 in 2Q 2021). Revenue: €52.3m (up 23% from 2Q 2021). Net income: €3.91m (up 187% from 2Q 2021). Profit margin: 7.5% (up from 3.2% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 07
Price target decreased to €5.65 Down from €6.23, the current price target is an average from 3 analysts. New target price is 68% above last closing price of €3.36. Stock is down 33% over the past year. The company is forecast to post earnings per share of €0.68 for next year compared to €0.50 last year. Buying Opportunity • Jun 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €4.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to decline by 1.2% in a year. Earnings is forecast to grow by 4.9% in the next year. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: €0.30 (up from €0.13 in 1Q 2021). Revenue: €50.4m (up 25% from 1Q 2021). Net income: €4.22m (up 140% from 1Q 2021). Profit margin: 8.4% (up from 4.4% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 6.0%. Over the next year, revenue is expected to shrink by 1.2% compared to a 8.0% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 09
Upcoming dividend of €0.14 per share Eligible shareholders must have bought the stock before 16 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Italian dividend payers (4.8%). Higher than average of industry peers (3.2%). Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Director Luca Peli 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: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: €0.49 (up from €0.27 in FY 2020). Revenue: €179.0m (up 38% from FY 2020). Net income: €6.69m (up 89% from FY 2020). Profit margin: 3.7% (up from 2.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 3.3%, compared to a 3.2% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 4% per year. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 18% share price gain to €3.99, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Forestry industry in Europe. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.98 per share. Buying Opportunity • Mar 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €4.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% per annum over the last 3 years. Earnings per share has declined by 4.8% per annum over the last 3 years. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS €0.097 (vs €0.13 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: €44.3m (up 18% from 3Q 2020). Net income: €1.35m (down 19% from 3Q 2020). Profit margin: 3.0% (down from 4.4% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Sep 09
Second quarter 2021 earnings released: EPS €0.10 (vs €0.16 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €42.3m (up 99% from 2Q 2020). Net income: €1.36m (up €3.42m from 2Q 2020). Profit margin: 3.2% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Price Target Changed • Sep 09
Price target increased to €5.88 Up from €5.33, the current price target is an average from 3 analysts. New target price is 23% above last closing price of €4.79. Stock is up 81% over the past year. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 15% share price gain to €4.94, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Forestry industry in Europe. Total returns to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.30 per share. Upcoming Dividend • May 10
Upcoming dividend of €0.09 per share Eligible shareholders must have bought the stock before 17 May 2021. Payment date: 19 May 2021. Trailing yield: 3.8%. Lower than top quartile of Italian dividend payers (3.9%). Higher than average of industry peers (2.7%). Price Target Changed • Apr 10
Price target increased to €4.83 Up from €4.49, the current price target is an average from 4 analysts. New target price is 34% above last closing price of €3.59. Stock is up 20% over the past year. Is New 90 Day High Low • Mar 02
New 90-day high: €3.44 The company is up 31% from its price of €2.62 on 02 December 2020. The Italian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.07 per share. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 21% share price gain to €3.30, the stock is trading at a trailing P/E ratio of 14.1x, up from the previous P/E ratio of 11.7x. This compares to an average P/E of 14x in the Forestry industry in Europe. Total returns to shareholders over the past three years were flat. Is New 90 Day High Low • Jan 04
New 90-day high: €3.06 The company is up 30% from its price of €2.36 on 06 October 2020. The Italian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.00 per share. Is New 90 Day High Low • Dec 16
New 90-day high: €2.90 The company is up 11% from its price of €2.62 on 17 September 2020. The Italian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Forestry industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.00 per share. Is New 90 Day High Low • Nov 25
New 90-day high: €2.74 The company is up 4.0% from its price of €2.64 on 27 August 2020. The Italian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.44 per share. Major Estimate Revision • Oct 24
Analysts update estimates The 2020 consensus earning per share (EPS) estimate increased from €0.11 to €0.13. Revenue estimate for the same period was approximately flat at €124.6m. Net income is expected to grow by 5.4% next year compared to 20% decline forecast for the Forestry industry in Italy. The consensus price target of €4.43 was unchanged from the last update. Share price is up 7.3% to €2.36 over the past week. Is New 90 Day High Low • Oct 02
New 90-day low: €2.44 The company is down 10.0% from its price of €2.72 on 03 July 2020. The Italian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.59 per share. Anuncio • Sep 26
Neodecortech S.p.A. to Report First Half, 2020 Results on Sep 07, 2020 Neodecortech S.p.A. announced that they will report first half, 2020 results on Sep 07, 2020