Reported Earnings • May 20
First quarter 2026 earnings released First quarter 2026 results: Revenue: €389.2m (up 2.5% from 1Q 2025). Net income: €5.98m (down 14% from 1Q 2025). Profit margin: 1.5% (down from 1.8% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Annonce • Mar 19
Orsero S.p.A. announces Annual dividend, payable on May 13, 2026 Orsero S.p.A. announced Annual dividend of EUR 0.5000 per share payable on May 13, 2026, ex-date on May 11, 2026 and record date on May 12, 2026. Annonce • Mar 18
Orsero S.p.A. announces Annual dividend, payable on May 14, 2025 Orsero S.p.A. announced Annual dividend of EUR 0.5000 per share payable on May 14, 2025, ex-date on May 12, 2025 and record date on May 13, 2025. Annonce • Mar 17
Orsero S.p.A., Annual General Meeting, Apr 29, 2025 Orsero S.p.A., Annual General Meeting, Apr 29, 2025. New Risk • Nov 17
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 49% 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: Minor Risks High level of debt (49% net debt to equity). Profit margins are more than 30% lower than last year (1.7% net profit margin). Reported Earnings • Sep 13
Second quarter 2024 earnings released: EPS: €0.59 (vs €1.13 in 2Q 2023) Second quarter 2024 results: EPS: €0.59 (down from €1.13 in 2Q 2023). Revenue: €406.2m (down 2.4% from 2Q 2023). Net income: €10.0m (down 48% from 2Q 2023). Profit margin: 2.5% (down from 4.7% in 2Q 2023). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 08
First quarter 2024 earnings released First quarter 2024 results: Revenue: €337.9m (down 2.7% from 1Q 2023). Net income: €4.61m (down 63% from 1Q 2023). Profit margin: 1.4% (down from 3.6% in 1Q 2023). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 06
Upcoming dividend of €0.60 per share Eligible shareholders must have bought the stock before 13 May 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (4.1%). Reported Earnings • Mar 14
Full year 2023 earnings released: EPS: €2.76 (vs €1.87 in FY 2022) Full year 2023 results: EPS: €2.76 (up from €1.87 in FY 2022). Revenue: €1.54b (up 29% from FY 2022). Net income: €47.3m (up 47% from FY 2022). Profit margin: 3.1% (up from 2.7% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €14.54, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 12x in the Consumer Retailing industry in Europe. Total returns to shareholders of 140% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €23.78 per share. Reported Earnings • Nov 17
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €399.3m (up 26% from 3Q 2022). Net income: €15.2m (up 52% from 3Q 2022). Profit margin: 3.8% (up from 3.1% in 3Q 2022). 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 4.9% growth forecast for the Consumer Retailing industry in Europe. Reported Earnings • Sep 14
Second quarter 2023 earnings released: EPS: €1.13 (vs €0.66 in 2Q 2022) Second quarter 2023 results: EPS: €1.13 (up from €0.66 in 2Q 2022). Revenue: €416.1m (up 33% from 2Q 2022). Net income: €19.4m (up 69% from 2Q 2022). Profit margin: 4.7% (up from 3.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in Europe. 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 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
First quarter 2023 earnings released First quarter 2023 results: Revenue: €347.3m (up 32% from 1Q 2022). Net income: €12.5m (up 58% from 1Q 2022). Profit margin: 3.6% (up from 3.0% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Retailing industry in Europe. Upcoming Dividend • May 01
Upcoming dividend of €0.35 per share at 2.8% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.3%). Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: €1.87 (vs €1.05 in FY 2021) Full year 2022 results: EPS: €1.87 (up from €1.05 in FY 2021). Revenue: €1.20b (up 12% from FY 2021). Net income: €32.3m (up 76% from FY 2021). Profit margin: 2.7% (up from 1.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. 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. 12 experienced directors. No highly experienced directors. Chair of Board of Statutory Auditors Giorgio Grosso 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: Insufficient board refreshment. Reported Earnings • Nov 12
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €318.1m (up 15% from 3Q 2021). Net income: €9.97m (up 39% from 3Q 2021). Profit margin: 3.1% (up from 2.6% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Retailing industry in Europe. Reported Earnings • Sep 13
Second quarter 2022 earnings released: EPS: €0.66 (vs €0.19 in 2Q 2021) Second quarter 2022 results: EPS: €0.66 (up from €0.19 in 2Q 2021). Revenue: €312.2m (up 14% from 2Q 2021). Net income: €11.5m (up 247% from 2Q 2021). Profit margin: 3.7% (up from 1.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
First quarter 2022 earnings released First quarter 2022 results: Revenue: €264.0m (up 9.9% from 1Q 2021). Net income: €7.90m (up 68% from 1Q 2021). Profit margin: 3.0% (up from 2.0% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.6%, compared to a 7.6% growth forecast for the industry in Germany. Upcoming Dividend • May 02
Upcoming dividend of €0.30 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.1%). Lower than average of industry peers (4.2%). Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €1.05. Revenue: €1.07b (up 2.7% from FY 2020). Net income: €18.3m (up 50% from FY 2020). Profit margin: 1.7% (up from 1.2% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 5.5%, compared to a 7.1% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €11.30, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Consumer Retailing industry in Europe. Total returns to shareholders of 63% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €18.72 per share. Buying Opportunity • Feb 11
Now 21% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be €16.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% per annum over the last 3 years. Earnings per share has grown by 26% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 17% share price gain to €12.55, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Consumer Retailing industry in Europe. Total returns to shareholders of 76% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.03 per share. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS €0.41 (vs €0.33 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €275.9m (up 3.0% from 3Q 2020). Net income: €7.19m (up 24% from 3Q 2020). Profit margin: 2.6% (up from 2.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 15
Second quarter 2021 earnings released: EPS €0.19 (vs €0.26 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €272.8m (down 2.5% from 2Q 2020). Net income: €3.31m (down 26% from 2Q 2020). Profit margin: 1.2% (down from 1.6% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 03
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 12 May 2021. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (4.3%). Reported Earnings • Apr 04
Full year 2020 earnings released: EPS €0.71 (vs €0.12 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.04b (up 3.6% from FY 2019). Net income: €12.2m (up €10.2m from FY 2019). Profit margin: 1.2% (up from 0.2% in FY 2019). 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 only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS €0.71 (vs €0.12 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.04b (up 3.6% from FY 2019). Net income: €12.3m (up €10.2m from FY 2019). Profit margin: 1.2% (up from 0.2% in FY 2019). 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 only fallen by 9% per year, which means it has not declined as severely as earnings. Annonce • Mar 16
Orsero S.p.A. to Report Fiscal Year 2020 Results on Mar 16, 2021 Orsero S.p.A. announced that they will report fiscal year 2020 results on Mar 16, 2021 Is New 90 Day High Low • Feb 13
New 90-day high: €6.70 The company is up 11% from its price of €6.04 on 13 November 2020. The German market is also up 11% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Consumer Retailing industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.68 per share. Is New 90 Day High Low • Nov 24
New 90-day high: €6.54 The company is up 8.0% from its price of €6.06 on 25 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.89 per share. Reported Earnings • Sep 19
First half earnings released Over the last 12 months the company has reported total profits of €7.12m, up 103% from the prior year. Total revenue was €1.03b over the last 12 months, up 5.9% from the prior year. Annonce • Sep 11
Orsero S.p.A. (BIT:ORS) completed the acquisition of remaining 50% stake in Moncada Frutta Srl from the local partners. Orsero S.p.A. (BIT:ORS) entered into an agreement to acquire the remaining 50% stake in Moncada Frutta Srl from the local partners for €1.2 million on July 29, 2020. Orsero transferred 176,825 shares as consideration to sellers. The agreement also provides for a payment in cash, variable and deferred until 2030, of a maximum of € 0.5 million in 3 equal annual installments , subject to the fact that in the reference financial statements of Moncada Frutta on each occasion there is a profit distributable to shareholders. The shares issued are subject to a lock-up agreement. The consideration of the acquisition, in the deferred and variable cash component, will be financed using Orsero’s own financial resources. In 2019, Moncada Frutta achieved revenues of approximately €16.8 million with an Adjusted Ebitda of approximately €0.7 million. The net financial position is essentially neutral. The transaction is expected to complete by September 2020.
Orsero S.p.A. (BIT:ORS) completed the acquisition of remaining 50% stake in Moncada Frutta Srl from the local partners on September 10, 2020. Annonce • Jul 31
Orsero S.p.A. (BIT:ORS) entered into an agreement to acquire the remaining 50% stake in Moncada Frutta Srl from the local partners. Orsero S.p.A. (BIT:ORS) entered into an agreement to acquire the remaining 50% stake in Moncada Frutta Srl from the local partners on July 29, 2020. The transaction is expected to complete by September 2020. 
