New Risk • May 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -RON1.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-RON1.3m free cash flow). Shares are highly illiquid. Earnings have declined by 53% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RON210.1m market cap, or US$47.1m). New Risk • May 13
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2024 fiscal period end). Shares are highly illiquid. High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (RON211.8m market cap, or US$47.8m). New Risk • May 06
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -RON1.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-RON1.3m free cash flow). Shares are highly illiquid. Earnings have declined by 53% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RON211.8m market cap, or US$47.3m). New Risk • May 01
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2024 fiscal period end). Shares are highly illiquid. High level of non-cash earnings (21% accrual ratio). Minor Risk Market cap is less than US$100m (RON218.3m market cap, or US$49.3m). Annonce • Apr 26
Alum S.A. to Report Fiscal Year 2025 Results on Apr 24, 2026 Alum S.A. announced that they will report fiscal year 2025 results on Apr 24, 2026 Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to RON2.80, the stock trades at a trailing P/E ratio of 63.1x. Average trailing P/E is 63x in the Chemicals industry in Romania. Negligible returns to shareholders over past year. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to RON1.68, the stock trades at a trailing P/E ratio of 37.9x. Average trailing P/E is 54x in the Chemicals industry in Romania. Total loss to shareholders of 28% over the past year. Board Change • Mar 10
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Jan 29
Alum S.A., Annual General Meeting, Apr 28, 2026 Alum S.A., Annual General Meeting, Apr 28, 2026. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to RON2.04, the stock trades at a trailing P/E ratio of 46x. Average trailing P/E is 18x in the Chemicals industry in Europe. Board Change • Jan 08
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorates as stock falls 29% After last week's 29% share price decline to RON1.31, the stock trades at a trailing P/E ratio of 29.5x. Average trailing P/E is 17x in the Chemicals industry in Europe. Total loss to shareholders of 48% over the past year. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to RON1.75, the stock trades at a trailing P/E ratio of 39.4x. Average trailing P/E is 18x in the Chemicals industry in Europe. Total loss to shareholders of 39% over the past year. New Risk • Nov 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 Shares are highly illiquid. High level of non-cash earnings (21% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (RON139.5m market cap, or US$31.9m). Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to RON2.32, the stock trades at a trailing P/E ratio of 52.3x. Average trailing P/E is 18x in the Chemicals industry in Europe. Board Change • Oct 31
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to RON2.00, the stock trades at a trailing P/E ratio of 45.1x. Average trailing P/E is 19x in the Chemicals industry in Europe. Board Change • Sep 10
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to RON2.64, the stock trades at a trailing P/E ratio of 59.5x. Average trailing P/E is 19x in the Chemicals industry in Europe. Board Change • Jul 24
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to RON2.84, the stock trades at a trailing P/E ratio of 64x. Average trailing P/E is 19x in the Chemicals industry in Europe. Board Change • Jun 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 26
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 09
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Interim Director Razvan-Sebastian Pop was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Vice Chairman Higer Igor was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 31
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Vice Chairman Higer Igor was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Jan 29
Alum S.A., Annual General Meeting, Mar 28, 2025 Alum S.A., Annual General Meeting, Mar 28, 2025. Board Change • Nov 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Vice Chairman Higer Igor was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 08
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Vice Chairman Higer Igor was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 08
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Vice Chairman Higer Igor was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 25
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. 4 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). CFO, Financial Director & Executive Director Mihaela Duralia was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Mar 29
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. 4 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). CFO, Financial Director & Executive Director Mihaela Duralia was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.