Annonce • Mar 20
Grimoldi S.A., Annual General Meeting, Apr 23, 2026 Grimoldi S.A., Annual General Meeting, Apr 23, 2026. Location: av corrientes 327 4th floor, buenos aires Argentina New Risk • Mar 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 28% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risk Market cap is less than US$100m (AR$111.4b market cap, or US$79.7m). New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (AR$114.1b market cap, or US$81.6m). New Risk • Mar 15
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: AR$274m (US$196k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AR$274m revenue, or US$196k). Minor Risk Market cap is less than US$100m (AR$114.1b market cap, or US$81.6m). Reported Earnings • Mar 15
Full year 2025 earnings released Full year 2025 results: Revenue: AR$274.4m (down 100% from FY 2024). Net income: AR$44.5m (down 100% from FY 2024). Profit margin: 16% (up from 5.2% in FY 2024). The increase in margin was driven by lower expenses. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (AR$114.1b market cap, or US$81.0m). Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to AR$1,900, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 7x in the Luxury industry in South America. Total returns to shareholders of 1,155% over the past three years. Buy Or Sell Opportunity • Oct 24
Now 27% overvalued Over the last 90 days, the stock has fallen 23% to AR$1,680. The fair value is estimated to be AR$1,322, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Sep 22
Now 22% overvalued Over the last 90 days, the stock has fallen 22% to AR$1,630. The fair value is estimated to be AR$1,337, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to AR$1,570, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 7x in the Luxury industry in South America. Total returns to shareholders of 1,043% over the past three years. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AR$2,205, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 7x in the Luxury industry in South America. Total returns to shareholders of 2,631% over the past three years. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$2,170, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 8x in the Luxury industry in South America. Total returns to shareholders of 2,800% over the past three years. Valuation Update With 7 Day Price Move • May 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$1,630, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 8x in the Luxury industry in South America. Total returns to shareholders of 1,782% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AR$1,335, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 7x in the Luxury industry in South America. Total returns to shareholders of 1,441% over the past three years. Annonce • Apr 30
Grimoldi S.A. announces Annual dividend, payable on May 12, 2025 Grimoldi S.A. announced Annual dividend of ARS 54.2846 per share payable on May 12, 2025, ex-date on April 29, 2025 and record date on April 29, 2025. New Risk • Apr 21
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 Argentinean stocks, typically moving 9.4% 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 High level of non-cash earnings (37% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (AR$53.8b market cap, or US$49.4m). Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to AR$1,100, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 7x in the Luxury industry in South America. Total returns to shareholders of 1,227% over the past three years. Annonce • Mar 18
Grimoldi S.A., Annual General Meeting, Apr 24, 2025 Grimoldi S.A., Annual General Meeting, Apr 24, 2025. Location: av corrientes 327, 4th floor autonomous, buenos aires Argentina Reported Earnings • Mar 11
Full year 2024 earnings released: EPS: AR$258 (vs AR$53.66 in FY 2023) Full year 2024 results: EPS: AR$258 (up from AR$53.66 in FY 2023). Revenue: AR$220.6b (up 95% from FY 2023). Net income: AR$11.5b (up 382% from FY 2023). Profit margin: 5.2% (up from 2.1% in FY 2023). 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 143% per year, which means it is well ahead of earnings. Reported Earnings • Nov 17
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: AR$50.0b (up 198% from 3Q 2023). Net income: AR$889.7m (up 6.2% from 3Q 2023). Profit margin: 1.8% (down from 5.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: AR$83.23 (vs AR$72.05 in 2Q 2023) Second quarter 2024 results: EPS: AR$83.23 (up from AR$72.05 in 2Q 2023). Revenue: AR$47.3b (up 100% from 2Q 2023). Net income: AR$3.69b (up 16% from 2Q 2023). Profit margin: 7.8% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 190% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: AR$20.44 (vs AR$50.21 in 1Q 2023) First quarter 2024 results: EPS: AR$20.44 (down from AR$50.21 in 1Q 2023). Revenue: AR$32.4b (up 177% from 1Q 2023). Net income: AR$905.7m (down 59% from 1Q 2023). Profit margin: 2.8% (down from 19% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 198% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to AR$892, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 10x in the Luxury industry in South America. Total returns to shareholders of 2,769% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AR$906, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 10x in the Luxury industry in South America. Total returns to shareholders of 3,344% over the past three years. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$698, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 9x in the Luxury industry in South America. Total returns to shareholders of 2,332% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$540, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 9x in the Luxury industry in South America. Total returns to shareholders of 1,692% over the past three years. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to AR$449, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 12x in the Luxury industry in South America. Total returns to shareholders of 1,208% over the past three years. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 16% share price gain to AR$259, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 9x in the Luxury industry in South America. Total returns to shareholders of 608% over the past three years. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. No independent directors (6 non-independent directors). Director Hernán A. Grimoldi was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 20% share price gain to AR$110, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 7x in the Luxury industry in South America. Total returns to shareholders of 437% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to AR$82.00, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 7x in the Luxury industry in South America. Total returns to shareholders of 264% over the past three years. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. No independent directors (6 non-independent directors). Director Hernán A. Grimoldi was the last director to join the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment deteriorated over the past week After last week's 19% share price decline to AR$81.40, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 8x in the Luxury industry in South America. Total returns to shareholders of 402% over the past three years. Is New 90 Day High Low • Mar 04
New 90-day high: AR$31.00 The company is up 7.0% from its price of AR$29.00 on 03 December 2020. The Argentinean market is down 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is down 9.0% over the same period. Reported Earnings • Dec 12
Third quarter 2020 earnings released: AR$4.94 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: AR$871.0m (down 39% from 3Q 2019). Net loss: AR$218.9m (loss widened 84% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 02
New 90-day low: AR$22.60 The company is down 11% from its price of AR$25.50 on 03 July 2020. The Argentinean market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 8.0% over the same period.