New Risk • Jun 04
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 47% 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 (47% net debt to equity). Share price has been volatile over the past 3 months (6.4% average weekly change). Profit margins are more than 30% lower than last year (8.0% net profit margin). Reported Earnings • May 29
First quarter 2026 earnings released: EPS: €0.005 (vs €0.005 in 1Q 2025) First quarter 2026 results: EPS: €0.005 (in line with 1Q 2025). Revenue: €14.7m (up 9.7% from 1Q 2025). Net income: €820.0k (down 2.7% from 1Q 2025). Profit margin: 5.6% (down from 6.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 29
Full year 2025 earnings released: EPS: €0.03 (vs €0.052 in FY 2024) Full year 2025 results: EPS: €0.03 (down from €0.052 in FY 2024). Revenue: €62.6m (up 18% from FY 2024). Net income: €5.05m (down 42% from FY 2024). Profit margin: 8.1% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.42, the stock trades at a trailing P/E ratio of 47.4x. Average trailing P/E is 21x in the Pharmaceuticals industry in Europe. Total returns to shareholders of 253% over the past three years. Reported Earnings • Mar 20
Full year 2025 earnings released Full year 2025 results: Revenue: €62.6m (up 18% from FY 2024). Net income: €5.05m (down 42% from FY 2024). Profit margin: 8.1% (down from 16% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. New Risk • Jan 26
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 Greek stocks, typically moving 5.3% 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 Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (3.8% net profit margin). New Risk • Nov 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 172% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (3.8% net profit margin). Upcoming Dividend • Jul 10
Inaugural dividend of €0.02 per share Eligible shareholders must have bought the stock before 17 July 2025. Payment date: 24 July 2025. This is the first dividend for Lavipharm since going public. The average dividend yield among industry peers is 2.8%. Reported Earnings • Apr 08
Full year 2024 earnings released: EPS: €0.052 (vs €0.012 in FY 2023) Full year 2024 results: EPS: €0.052 (up from €0.012 in FY 2023). Revenue: €52.9m (up 11% from FY 2023). Net income: €8.67m (up 340% from FY 2023). Profit margin: 16% (up from 4.1% in FY 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. New Risk • Mar 28
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Share price has been volatile over the past 3 months (4.8% average weekly change). Annonce • Mar 15
Lavipharm S.A., Annual General Meeting, Jul 03, 2025 Lavipharm S.A., Annual General Meeting, Jul 03, 2025. New Risk • Dec 05
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 Greek stocks, typically moving 4.4% 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: Minor Risks Share price has been volatile over the past 3 months (4.4% average weekly change). Large one-off items impacting financial results. Annonce • Nov 01
Lavipharm S.A. to Report Nine Months, 2024 Results on Nov 14, 2024 Lavipharm S.A. announced that they will report nine months, 2024 results on Nov 14, 2024 Reported Earnings • Sep 20
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €13.1m (down 16% from 2Q 2023). Net income: €6.63m (up 307% from 2Q 2023). Profit margin: 50% (up from 10% in 2Q 2023). Annonce • Sep 02
Lavipharm S.A. to Report First Half, 2024 Results on Sep 19, 2024 Lavipharm S.A. announced that they will report first half, 2024 results on Sep 19, 2024 New Risk • May 29
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risk Large one-off items impacting financial results. Annonce • May 01
Lavipharm S.A. to Report Q1, 2024 Results on May 23, 2024 Lavipharm S.A. announced that they will report Q1, 2024 results at 5:20 PM, GTB Standard Time on May 23, 2024 New Risk • Apr 11
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 Greek stocks, typically moving 4.9% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 05
Full year 2023 earnings released Full year 2023 results: Revenue: €50.9m (up 11% from FY 2022). Net income: €2.00m (up 139% from FY 2022). Profit margin: 3.9% (up from 1.8% in FY 2022). The increase in margin was driven by higher revenue. Annonce • Mar 01
Lavipharm S.A. to Report Fiscal Year 2023 Results on Mar 21, 2024 Lavipharm S.A. announced that they will report fiscal year 2023 results on Mar 21, 2024 Reported Earnings • Nov 10
Third quarter 2023 earnings released: €0.001 loss per share (vs €0.021 loss in 3Q 2022) Third quarter 2023 results: €0.001 loss per share (improved from €0.021 loss in 3Q 2022). Revenue: €11.7m (down 5.6% from 3Q 2022). Net loss: €118.0k (loss narrowed 78% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Annonce • Nov 01
Lavipharm S.A. to Report Nine Months, 2023 Results on Nov 08, 2023 Lavipharm S.A. announced that they will report nine months, 2023 results on Nov 08, 2023 Reported Earnings • Sep 24
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €15.6m (up 52% from 2Q 2022). Net income: €1.63m (up 63% from 2Q 2022). Profit margin: 10% (in line with 2Q 2022). Annonce • Sep 01
Lavipharm S.A. to Report First Half, 2024 Results on Sep 21, 2023 Lavipharm S.A. announced that they will report first half, 2024 results on Sep 21, 2023 Board Change • Nov 16
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. 4 non-independent directors. Independent Non Executive Director Sophia Kounenaki-Efraimoglou was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 17
First half 2022 earnings released: EPS: €0.037 (vs €0.15 in 1H 2021) First half 2022 results: EPS: €0.037 (down from €0.15 in 1H 2021). Revenue: €21.2m (up 8.4% from 1H 2021). Net income: €1.90m (down 27% from 1H 2021). Profit margin: 9.0% (down from 13% in 1H 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Annonce • Aug 09
Lavipharm S.A., Annual General Meeting, Aug 30, 2022 Lavipharm S.A., Annual General Meeting, Aug 30, 2022. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improved over the past week After last week's 19% share price gain to €1.39, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 18x in the Pharmaceuticals industry in Europe. Total returns to shareholders of 64% over the past three years. Annonce • Jun 01
Lavipharm S.A., Annual General Meeting, Jun 30, 2022 Lavipharm S.A., Annual General Meeting, Jun 30, 2022. Buying Opportunity • May 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be €0.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years, while earnings per share has been flat. Buying Opportunity • May 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 36%. The fair value is estimated to be €0.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years, while earnings per share has been flat. Board Change • Apr 27
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, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). Executive Director Telemaque Lavidas is the most experienced director on the board, commencing their role in 2019. Independent Non Executive Director James Christopoulos was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 03
First half 2021 earnings released: EPS €0.051 (vs €0.042 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €19.6m (up 7.1% from 1H 2020). Net income: €2.60m (up 20% from 1H 2020). Profit margin: 13% (up from 12% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 44% per year whereas the company’s share price has increased by 49% per year. Reported Earnings • May 02
Full year 2020 earnings released: EPS €0.042 (vs €0.10 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €37.6m (up 12% from FY 2019). Net income: €2.17m (down 59% from FY 2019). Profit margin: 5.8% (down from 16% in FY 2019). The decrease in margin was driven by higher expenses. 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 46% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 11
New 90-day high: €0.40 The company is up 38% from its price of €0.29 on 13 August 2020. The Greek market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 3.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: €0.37 The company is up 29% from its price of €0.29 on 10 July 2020. The Greek market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 4.0% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total profits of €6.88m, up 397% from the prior year. Total revenue was €35.7m over the last 12 months, up 5.8% from the prior year.