Recent Insider Transactions • Jun 04
CEO, GM recently sold €7.7m worth of stock On the 28th of May, Alessandro Bernini sold around 545k shares on-market at roughly €14.07 per share. This transaction amounted to 72% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Alessandro has been a net seller over the last 12 months, reducing personal holdings by €9.2m. Annonce • Mar 07
Maire S.p.A. announces Annual dividend, payable on April 22, 2026 Maire S.p.A. announced Annual dividend of EUR 0.5850 per share payable on April 22, 2026, ex-date on April 20, 2026 and record date on April 21, 2026. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Isabella Nova was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Mar 07
Maire S.p.A. (BIT:MAIRE) commences an Equity Buyback Plan for 10,000,000 shares, representing 3.1% of its issued share capital, under the authorization approved on April 17, 2024. Maire S.p.A. (BIT:MAIRE) commences share repurchases on March 5, 2025, under the program mandated by the shareholders in the Ordinary Shareholders' Meeting held on April 17, 2024. As per the mandate, the company is authorized to repurchase up to 10,000,000 ordinary shares, representing 3.1% of its issued share capital, provided that the above maximum amount shall not in any case exceed 20% of the total number of outstanding shares. The purchase unit price of the ordinary shares will be determined from time to time per each transaction, provided that purchases of shares may be made at a price not higher than the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venue where the purchase is carried out, provided that the above mentioned unit price may not be lower in the minimum of 10% and not higher in the maximum of 10% than the reference price of the security on the Stock Market trading session on the day prior to each individual transaction. The program is aimed at allowing the company to purchase and dispose of ordinary shares, for all purposes permitted by the applicable provisions as well as for the supply of treasury shares for the remuneration or incentive plans, based on MAIRE shares, adopted by the Company, and for the activities supporting market liquidity. The program will run over a period of 18 months from the date of this meeting. As of April 17, 2024, the company had 6,473,086 treasury shares.
On March 4, 2025, the company announced a share repurchase program. Under the program, the company will repurchase 7,700,000, corresponding to the 2.34% of the total number of outstanding ordinary shares of the company, for €66.22 million. These shares will be allotted to Share Incentive Plans. The program is valid till June 15, 2025. Board Change • Dec 30
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Isabella Nova was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: €0.14 (vs €0.093 in 3Q 2023) Third quarter 2024 results: EPS: €0.14 (up from €0.093 in 3Q 2023). Revenue: €1.52b (up 36% from 3Q 2023). Net income: €46.7m (up 53% from 3Q 2023). Profit margin: 3.1% (up from 2.7% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 26% per year. Reported Earnings • Aug 01
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €1.38b (up 37% from 2Q 2023). Net income: €47.1m (up 79% from 2Q 2023). Profit margin: 3.4% (up from 2.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in Europe. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: €0.13 (vs €0.077 in 1Q 2023) First quarter 2024 results: EPS: €0.13 (up from €0.077 in 1Q 2023). Revenue: €1.26b (up 33% from 1Q 2023). Net income: €43.8m (up 74% from 1Q 2023). Profit margin: 3.5% (up from 2.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 15
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 22 April 2024. Payment date: 24 April 2024. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €6.89, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 205% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.49 per share. Buy Or Sell Opportunity • Mar 09
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 57% to €7.00. The fair value is estimated to be €5.59, however this is not to be taken as a sell 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 19%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Declared Dividend • Mar 08
Dividend increased to €0.20 Dividend of €0.20 is 59% higher than last year. Ex-date: 22nd April 2024 Payment date: 24th April 2024 Dividend yield will be 3.0%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 13% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 87% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: €0.38 (vs €0.27 in FY 2022) Full year 2023 results: EPS: €0.38 (up from €0.27 in FY 2022). Revenue: €4.26b (up 24% from FY 2022). Net income: €125.4m (up 40% from FY 2022). Profit margin: 2.9% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 28
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €1.12b (up 27% from 3Q 2022). Net income: €30.6m (up 63% from 3Q 2022). Profit margin: 2.7% (up from 2.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Construction industry in Germany. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €4.33, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Construction industry in Europe. Total returns to shareholders of 255% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.31 per share. Buying Opportunity • Sep 21
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be €4.55, 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 12%. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Buying Opportunity • Sep 04
Now 20% undervalued Over the last 90 days, the stock is up 9.8%. The fair value is estimated to be €4.53, 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 12%. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Reported Earnings • Jul 29
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €1.01b (up 18% from 2Q 2022). Net income: €26.4m (up 11% from 2Q 2022). Profit margin: 2.6% (down from 2.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Construction industry in Germany. Reported Earnings • Mar 06
Full year 2022 earnings released: EPS: €0.27 (vs €0.25 in FY 2021) Full year 2022 results: EPS: €0.27 (up from €0.25 in FY 2021). Revenue: €3.46b (up 21% from FY 2021). Net income: €89.9m (up 7.9% from FY 2021). Profit margin: 2.6% (down from 2.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent & Non-Executive Director Maurizia Squinzi was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: €0.057 (vs €0.062 in 3Q 2021) Third quarter 2022 results: EPS: €0.057 (down from €0.062 in 3Q 2021). Revenue: €886.4m (up 24% from 3Q 2021). Net income: €18.8m (down 7.9% from 3Q 2021). Profit margin: 2.1% (down from 2.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Jul 31
Second quarter 2022 earnings released: EPS: €0.073 (vs €0.067 in 2Q 2021) Second quarter 2022 results: EPS: €0.073 (up from €0.067 in 2Q 2021). Revenue: €892.5m (up 27% from 2Q 2021). Net income: €23.8m (up 8.7% from 2Q 2021). Profit margin: 2.7% (down from 3.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 5.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €2.76, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 7.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.76 per share. Buying Opportunity • Jun 11
Now 20% undervalued Over the last 90 days, the stock is up 8.1%. The fair value is estimated to be €4.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Earnings per share has declined by 14%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is also forecast to grow by 6.8% per annum over the same time period. Reported Earnings • May 13
First quarter 2022 earnings released First quarter 2022 results: Revenue: €728.4m (up 17% from 1Q 2021). Net income: €18.4m (up 1.8% from 1Q 2021). Profit margin: 2.5% (down from 2.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 18%, compared to a 7.1% growth forecast for the industry in Germany. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent & Non-Executive Director Maurizia Squinzi was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be €3.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Earnings per share has declined by 17%. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings is also forecast to grow by 9.3% per annum over the same time period. Upcoming Dividend • Apr 12
Upcoming dividend of €0.18 per share Eligible shareholders must have bought the stock before 19 April 2022. Payment date: 21 April 2022. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 5.8%. Within top quartile of German dividend payers (3.9%). Higher than average of industry peers (4.0%). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 20% share price gain to €3.01, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Construction industry in Europe. Total loss to shareholders of 5.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.64 per share. Reported Earnings • Mar 01
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: €0.25 (up from €0.18 in FY 2020). Revenue: €2.86b (up 11% from FY 2020). Net income: €83.3m (up 44% from FY 2020). Profit margin: 2.9% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 22%, compared to a 5.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Buying Opportunity • Feb 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €4.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% per annum over the last 3 years. Earnings per share has declined by 19% per annum over the last 3 years. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS €0.062 (vs €0.046 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €730.1m (up 17% from 3Q 2020). Net income: €20.4m (up 37% from 3Q 2020). Profit margin: 2.8% (up from 2.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS €0.067 (vs €0.028 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €707.0m (up 40% from 2Q 2020). Net income: €21.9m (up 140% from 2Q 2020). Profit margin: 3.1% (up from 1.8% 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 21% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • May 02
First quarter 2021 earnings released: EPS €0.055 (vs €0.033 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: €620.4m (down 11% from 1Q 2020). Net income: €18.1m (up 65% from 1Q 2020). Profit margin: 2.9% (up from 1.6% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 12
Upcoming dividend of €0.12 per share Eligible shareholders must have bought the stock before 19 April 2021. Payment date: 21 April 2021. Trailing yield: 4.5%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.2%). Is New 90 Day High Low • Mar 12
New 90-day high: €2.70 The company is up 58% from its price of €1.71 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.12 per share. Reported Earnings • Mar 11
Full year 2020 earnings released: EPS €0.18 (vs €0.34 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €2.63b (down 21% from FY 2019). Net income: €57.8m (down 49% from FY 2019). Profit margin: 2.2% (down from 3.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 17% per year. Analyst Estimate Surprise Post Earnings • Mar 11
Revenue misses expectations Revenue missed analyst estimates by 3.6%. Over the next year, revenue is forecast to grow 9.3%, compared to a 10% growth forecast for the Construction industry in Germany. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 15% share price gain to €2.23, the stock is trading at a trailing P/E ratio of 10.6x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 13x in the Construction industry in Europe. Total return to shareholders over the past three years is a loss of 35%. Is New 90 Day High Low • Feb 05
New 90-day high: €2.06 The company is up 84% from its price of €1.12 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.57 per share. Annonce • Jan 24
Maire Tecnimont S.p.A. to Report Q4, 2020 Results on Mar 10, 2021 Maire Tecnimont S.p.A. announced that they will report Q4, 2020 results on Mar 10, 2021 Is New 90 Day High Low • Jan 06
New 90-day high: €1.83 The company is up 25% from its price of €1.46 on 08 October 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction 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 €1.58 per share. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 17% share price gain to €1.82, the stock is trading at a trailing P/E ratio of 8.9x, up from the previous P/E ratio of 7.6x. This compares to an average P/E of 12x in the Construction industry in Europe. Total return to shareholders over the past three years is a loss of 52%. Is New 90 Day High Low • Dec 11
New 90-day high: €1.69 The company is up 17% from its price of €1.45 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.68 per share. Analyst Estimate Surprise Post Earnings • Nov 15
Revenue misses expectations Revenue missed analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 5.7%, compared to a 1.4% growth forecast for the Construction industry in Germany. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS €0.046 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €625.6m (down 14% from 3Q 2019). Net income: €14.9m (down 50% from 3Q 2019). Profit margin: 2.4% (down from 4.1% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS €0.046 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €664.2m (down 8.4% from 3Q 2019). Net income: €14.9m (down 50% from 3Q 2019). Profit margin: 2.2% (down from 4.1% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue misses expectations Revenue missed analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 6.3%, compared to a 1.5% growth forecast for the Construction industry in Germany. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 19% share price gain to €1.36, the stock is trading at a trailing P/E ratio of 5.3x, up from the previous P/E ratio of 4.5x. This compares to an average P/E of 12x in the Construction industry in Europe. Total return to shareholders over the past three years is a loss of 64%. Annonce • Nov 06
Maire Tecnimont S.P.A. and Indian Oil Corporation Ltd. Signs A Memorandum of Understanding Maire Tecnimont S.p.A. and Indian Oil Corporation Ltd. have signed a Memorandum of Understanding for the development of industrial projects using NextChem technologies to industrialize circular economy in India. The projects will be focused on plastics recycling, producing biofuels from renewable feedstock and circular fuels and chemicals from non-recyclable waste. IndianOil is India's national integrated oil company engaged in the entire energy value chain (Oil, Natural Gas as well as non-conventional sources). Under the agreement, IndianOil and NextChem will jointly explore opportunities for waste valorization by utilizing NextChem's technologies for plastic waste Upcycling and Waste-to-Chemicals solutions. NextChem, relying on the historical presence of the Maire Tecnimont Group in India (over 2,200 engineers and about 3,000 E&I[1] professionals in Mumbai), will guarantee technological solutions and best know-how for project development and execution. IndianOil is working to develop a sustainable business model of closed loop ecosystem of waste-plastics under its "Plastic Neutrality Initiative" and it is looking for partners who can contribute to addressing the end-life management of plastic wastes in India. IndianOil intends to introduce recyclates as a new line of product portfolio in addition to the existing virgin polymers business. NextChem is developing technological solutions to generate value from waste, providing its contribution by scouting, pivoting, industrializing and commercializing a portfolio of sustainable technologies. Valuation Update With 7 Day Price Move • Oct 30
Market pulls back on stock over the past week After last week's 17% share price decline to €1.05, the stock is trading at a trailing P/E ratio of 4.6x, down from the previous P/E ratio of 5.6x. This compares to an average P/E of 10x in the Construction industry in Europe. Total return to shareholders over the past three years is a loss of 77%. Is New 90 Day High Low • Oct 14
New 90-day low: €1.33 The company is down 17% from its price of €1.62 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.44 per share.