Annonce • May 31
JONIX S.p.A., Annual General Meeting, Jun 12, 2024 JONIX S.p.A., Annual General Meeting, Jun 12, 2024, at 10:00 W. Europe Standard Time. New Risk • Apr 08
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: Major Risks Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (€2.62m market cap, or US$2.84m). 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. Share price has been volatile over the past 3 months (6.0% average weekly change). Revenue is less than US$5m (€3.7m revenue, or US$4.0m). Buying Opportunity • Oct 10
Now 24% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be €0.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 33% over the last year. Meanwhile, the company became loss making. New Risk • Jul 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 189% The company is paying a dividend despite having no free cash flows. Dividend yield: 12% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 189% Paying a dividend despite having no free cash flows. Market cap is less than US$10m (€3.35m market cap, or US$3.75m). Minor Risk Revenue is less than US$5m (€4.4m revenue, or US$5.0m). Buying Opportunity • Jun 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be €0.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Jun 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 6.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.8% average weekly change). High level of non-cash earnings (49% accrual ratio). Market cap is less than US$10m (€2.67m market cap, or US$2.92m). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (0.2% net profit margin). Revenue is less than US$5m (€4.4m revenue, or US$4.8m). Buying Opportunity • Jun 08
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 37%. The fair value is estimated to be €0.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 20% share price gain to €1.05, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 12x in the Machinery industry in Italy. Total loss to shareholders of 80% over the past year. Reported Earnings • Sep 28
First half 2022 earnings released: EPS: €0 (vs €0.047 in 1H 2021) First half 2022 results: EPS: €0 (down from €0.047 in 1H 2021). Revenue: €1.69m (down 33% from 1H 2021). Net income: €22.0k (down 93% from 1H 2021). Profit margin: 1.3% (down from 12% in 1H 2021). The decrease in margin was driven by lower revenue. Buying Opportunity • Sep 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 60%. The fair value is estimated to be €1.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 46% share price decline to €1.12, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 12x in the Machinery industry in Italy. Total loss to shareholders of 79% over the past year. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €2.46, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 16x in the Machinery industry in Italy. Total loss to shareholders of 51% over the past year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 17
Full year 2021 earnings released Full year 2021 results: EPS: €0.15. Revenue: €6.80m (up 24% from FY 2020). Net income: €964.7k (down 1.8% from FY 2020). Profit margin: 14% (down from 18% in FY 2020). The decrease in margin was driven by higher expenses.