Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (8 non-independent directors). Chairman & CEO Andrea Sasso was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • Jul 24
Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Flexalighting Srl for €9.6 million. Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Flexalighting Srl for €9.6 million on July 22, 2025. A cash consideration of €9.6 million will be paid by Dexelance S.p.A. Following its completion, Dexelance now holds 100.0% of Flexalighting's share capital.
The transaction is financed by Dexelance through financial debt of approximately Euro 6.8 million and, for the remaining portion, with its own means. Roberto Mantovani, who also took on the role of CEO of Axolight in October 2024, will continue to serve as Chairman and CEO of Flexalighting.
For the period ending December 31, 2024, Flexalighting Srl reported total revenue of €11 million.
Dexelance S.p.A. (BIT:DEX) completed the acquisition of remaining 49% stake in Flexalighting Srl on July 22, 2025. Annonce • Mar 18
Dexelance S.p.A., Annual General Meeting, Apr 16, 2025 Dexelance S.p.A., Annual General Meeting, Apr 16, 2025, at 11:00 W. Europe Standard Time. Annonce • Oct 15
Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Axo Light srl. Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Axo Light srl on October 15, 2024. The overall transaction in Axolight, which was fully financed by Dexelance with its own funds, took place with an equity value of approximately €3.2 million, of which approximately €1.2 million was used for the acquisition of the remaining minority stake.
For the period ending December 31, 2023, Axo Light srl reported total revenue of €5 million. Roberto Mantovani, currently CEO of Flexalighting and experienced entrepreneur in the lighting market, will also take on the role as Axolight's new CEO.
Dexelance S.p.A. (BIT:DEX) completed the acquisition of remaining 49% stake in Axo Light srl on October 15, 2024. Reported Earnings • Sep 11
Second quarter 2024 earnings released: EPS: €0.027 (vs €0.16 in 2Q 2023) Second quarter 2024 results: EPS: €0.027 (down from €0.16 in 2Q 2023). Revenue: €80.9m (up 12% from 2Q 2023). Net income: €715.0k (down 83% from 2Q 2023). Profit margin: 0.9% (down from 5.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. New Risk • Jun 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. New Risk • Jun 10
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: €1.05 (vs €0.29 loss in FY 2022) Full year 2023 results: EPS: €1.05 (up from €0.29 loss in FY 2022). Revenue: €292.3m (up 46% from FY 2022). Net income: €28.1m (up €34.1m from FY 2022). Profit margin: 9.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 51% 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 (2.6x net interest cover). Earnings have declined by 51% per year over the past 5 years. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: €0.073 (vs €0.23 in 3Q 2022) Third quarter 2023 results: EPS: €0.073 (down from €0.23 in 3Q 2022). Revenue: €62.9m (up 23% from 3Q 2022). Net income: €1.94m (down 59% from 3Q 2022). Profit margin: 3.1% (down from 9.2% in 3Q 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Buying Opportunity • Nov 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €10.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 54% over the last year. Meanwhile, the company became loss making. Board Change • Oct 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (9 non-independent directors). Chairman & CEO Andrea Sasso was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Sep 20
New major risk - Revenue and earnings growth Earnings have declined by 53% 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 Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 53% per year over the past 5 years. Annonce • Sep 20
Italian Design Brands S.p.A. (BIT:IDB) reached an agreement to acquire 51% stake in Turri Srl. Italian Design Brands S.p.A. (BIT:IDB) reached an agreement to acquire 51% stake in Turri Srl on September 19, 2023. Andrea Turri will reinvest in the transaction as a minority shareholder and remain Chief Executive Officer of Turri. The transaction will be financed through IDB’s own means for approximately €5 million and with recourse to financial debt. Turri has reported revenue of €28.1 million and EBITDA of approximately €4 million in 2022. Marco Franzini of Grimaldi Studio Legale acted as legal advisor, Luciana Sist and Stefano Brunello of EY S.p.A. acted as financial and tax due diligence provider, Marco Valdonio of Maisto e Associati acted as legal advisor to Italian Design Brands. Marco Nicolini of Chiomenti Studio Legale acted as legal advisor and Roberto Bonacina and Jacopo de Maio of Ethica Holding S.p.A. acted as financial advisor to Andrea Turri. Reported Earnings • Sep 14
Second quarter 2023 earnings released: EPS: €0.16 (vs €0.19 in 2Q 2022) Second quarter 2023 results: EPS: €0.16. Revenue: €72.4m (up 43% from 2Q 2022). Net income: €4.21m (up 8.2% from 2Q 2022). Profit margin: 5.8% (down from 7.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Germany. New Risk • Jun 22
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Shares are highly illiquid. Earnings have declined by 43% per year over the past 5 years. New Risk • Jun 12
New major risk - Revenue and earnings growth Earnings have declined by 43% 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 Shares are highly illiquid. Earnings have declined by 43% per year over the past 5 years. Minor Risk High level of debt (57% net debt to equity). New Risk • Jun 10
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 74% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk High level of debt (74% net debt to equity).