Annonce • Apr 02
OTRS AG Announces Changes in Supervisory Board OTRS AG announced that the District Court of Frankfurt am Main, as competent registry court, has appointed the supervisory board of the Company with three new members of the supervisory board. The three new members of the supervisory board of the Company are Mr. Patrice Barbedette (CEO of Easyvista Holding S.A.S., France), who will be the chairman of the supervisory board, Ms. Pauline Caillard (CFO of Easyvista Holding S.A.S., France) and Mr. Evan Carlson (COO of Easyvista Holding S.A.S., France). New Risk • Sep 06
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 German stocks, typically moving 7.3% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Market cap is less than US$10m (€7.74m market cap, or US$8.58m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Upcoming Dividend • Aug 09
Upcoming dividend of €0.10 per share Eligible shareholders must have bought the stock before 16 August 2024. Payment date: 20 August 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (1.1%). New Risk • Jul 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.24m (US$10.00m) This is considered a major risk. Companies with a small market capitalization 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Market cap is less than US$10m (€9.24m market cap, or US$10.00m). Annonce • Jul 10
OTRS AG to Report First Half, 2024 Results on Oct 31, 2024 OTRS AG announced that they will report first half, 2024 results on Oct 31, 2024 Annonce • Jul 09
OTRS AG, Annual General Meeting, Aug 15, 2024 OTRS AG, Annual General Meeting, Aug 15, 2024, at 16:00 W. Europe Standard Time. Reported Earnings • Jun 30
Full year 2023 earnings released Full year 2023 results: Revenue: €12.8m (flat on FY 2022). Net loss: €1.08m (down 422% from profit in FY 2022). New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 2.3% 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 Risk Earnings have declined by 2.3% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€11.0m market cap, or US$11.8m). New Risk • May 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€10.6m market cap, or US$11.6m). Reported Earnings • Nov 06
First half 2023 earnings released First half 2023 results: Revenue: €6.28m (up 2.2% from 1H 2022). Net loss: €379.8k (down 248% from profit in 1H 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Software industry in Germany. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 38%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €12.0m to €12.4m. Forecast EPS reduced from -€0.69 to -€0.95 per share. Software industry in Germany expected to see average net income growth of 10% next year. Consensus price target of €13.00 unchanged from last update. Share price fell 16% to €5.70 over the past week. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €5.70, the stock trades at a trailing P/E ratio of 32.6x. Average forward P/E is 25x in the Software industry in Germany. Total loss to shareholders of 31% over the past three years. Annonce • Aug 09
OTRS AG to Report First Half, 2023 Results on Oct 31, 2023 OTRS AG announced that they will report first half, 2023 results on Oct 31, 2023 Upcoming Dividend • Jul 14
Upcoming dividend of €0.10 per share at 1.4% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 25 July 2023. Payout ratio is a comfortable 57% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (1.6%). Major Estimate Revision • Jun 21
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €12.3m to €12.0m. Losses expected to increase from €0.59 per share to €0.69. Software industry in Germany expected to see average net income growth of 19% next year. Consensus price target of €13.00 unchanged from last update. Share price rose 4.4% to €7.10 over the past week. Reported Earnings • Jun 08
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: €13.1m (up 10% from FY 2021). Net income: €334.9k (down 72% from FY 2021). Profit margin: 2.6% (down from 10% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Software industry in Germany. Price Target Changed • Nov 16
Price target decreased to €19.00 Down from €25.00, the current price target is provided by 1 analyst. New target price is 126% above last closing price of €8.40. Stock is down 47% over the past year. The company is forecast to post earnings per share of €0.16 for next year compared to €0.62 last year. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 21% share price decline to €8.45, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 18x in the Software industry in Germany. Total loss to shareholders of 50% over the past year. Upcoming Dividend • Jul 15
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 22 July 2022. Payment date: 26 July 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.2%). Reported Earnings • Jun 11
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €12.2m (up 11% from FY 2020). Net income: €1.19m (down 1.8% from FY 2020). Profit margin: 9.8% (down from 11% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 3.4% compared to a 13% growth forecast for the industry in Germany. Reported Earnings • Oct 03
First half 2021 earnings released The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €5.87m (up 8.7% from 1H 2020). Net income: €771.0k (up 47% from 1H 2020). Profit margin: 13% (up from 9.7% in 1H 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improved over the past week After last week's 27% share price gain to €16.80, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 41x in the Software industry in Germany. Total returns to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €12.00, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 34x in the Software industry in Germany. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improved over the past week After last week's 37% share price gain to €12.00, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 41x in the Software industry in Germany. Total loss to shareholders of 2.4% over the past three years. Is New 90 Day High Low • Jan 27
New 90-day high: €10.20 The company is up 19% from its price of €8.60 on 29 October 2020. The German market is up 21% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Software industry, which is also up 19% over the same period. Reported Earnings • Oct 06
First half earnings released Over the last 12 months the company has reported total profits of €981.4k, up 96% from the prior year. Total revenue was €10.7m over the last 12 months, up 13% from the prior year. Reported Earnings • Oct 04
First half earnings released Over the last 12 months the company has reported total profits of €981.4k, up 96% from the prior year. Total revenue was €10.8m over the last 12 months, up 14% from the prior year. Annonce • Jul 17
Otrs Ag Announces That It Will Not Be Possible to Maintain the Forecast of the Continued Growth OTRS AG announced that it will not be possible to maintain the forecast of the continued growth against the background of the Corona pandemic.