Annuncio • Mar 06
Kendrion N.V. announces Annual dividend, payable on April 22, 2026 Kendrion N.V. announced Annual dividend of EUR 0.7000 per share payable on April 22, 2026, ex-date on April 15, 2026 and record date on April 16, 2026. Annuncio • Mar 26
Kendrion N.V. announces Annual dividend, payable on May 09, 2025 Kendrion N.V. announced Annual dividend of EUR 0.4500 per share payable on May 09, 2025, ex-date on April 16, 2025 and record date on April 17, 2025. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: €0.12 (vs €0.16 in 3Q 2023) Third quarter 2024 results: EPS: €0.12 (down from €0.16 in 3Q 2023). Revenue: €72.7m (down 42% from 3Q 2023). Net income: €1.90m (down 21% from 3Q 2023). Profit margin: 2.6% (up from 1.9% in 3Q 2023). Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Auto Components industry in Germany are expected to grow by 5.6%. 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 19% per year, which means it has not declined as severely as earnings. Annuncio • Nov 13
Kendrion N.V., Annual General Meeting, Apr 14, 2025 Kendrion N.V., Annual General Meeting, Apr 14, 2025. Annuncio • Oct 02
Solero Technologies, LLC completed the acquisition of Automotive Business of Kendrion N.V.(ENXTAM:KENDR) for €65 million. Solero Technologies, LLC entered into an agreement to acquire Automotive Business of Kendrion N.V.(ENXTAM:KENDR) on April 15, 2024. Andreas Driver , Roya Bayatloo, Fabian Reissinger, Marcus Iske, Susanne Weckbach, Katharina A. Weimer, Matthias Berger and Benjamin Grzimek of Fieldfisher (Germany) LLP acted as legal advisor to Solero Technologies, LLC. Bart de Klerk, Jeroen Beets and Pim van der Velden of ING Corporate Finance acted as financial advisor to Kendrion N.V.
Solero Technologies, LLC completed the acquisition of Automotive Business of Kendrion N.V.(ENXTAM:KENDR) for €65 million on October 1, 2024. Automotive Business reported revenues of €208 million and EBITDA of €20.9 million. New Risk • Aug 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Dividend is not well covered by earnings (140% payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: €0.10 (vs €0.24 in 2Q 2023) Second quarter 2024 results: EPS: €0.10 (down from €0.24 in 2Q 2023). Revenue: €77.7m (down 43% from 2Q 2023). Net income: €1.00m (down 73% from 2Q 2023). Profit margin: 1.3% (down from 2.7% in 2Q 2023). Revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Auto Components industry in Germany are expected to grow by 5.8%. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. New Risk • May 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x 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 (2.8x net interest cover). Minor Risk Dividend is not well covered by cash flows (111% cash payout ratio). Recent Insider Transactions • May 10
Key Executive recently bought €101k worth of stock On the 7th of May, Frits van Hout bought around 8k shares on-market at roughly €13.30 per share. This transaction amounted to 64% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Frits' only on-market trade for the last 12 months. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: €0.18 (vs €0.33 in 1Q 2023) First quarter 2024 results: EPS: €0.18 (down from €0.33 in 1Q 2023). Revenue: €75.2m (down 45% from 1Q 2023). Net income: €4.20m (down 14% from 1Q 2023). Profit margin: 5.6% (up from 3.6% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has fallen by 61% 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. Buy Or Sell Opportunity • Mar 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.2% to €12.54. The fair value is estimated to be €10.38, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: €0.65 (vs €3.09 loss in FY 2022) Full year 2023 results: EPS: €0.65 (up from €3.09 loss in FY 2022). Revenue: €518.6m (flat on FY 2022). Net income: €9.90m (up €56.2m from FY 2022). Profit margin: 1.9% (up from net loss in FY 2022). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Feb 23
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to €12.60. The fair value is estimated to be €10.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 20
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to €12.36. The fair value is estimated to be €10.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: €0.16 (vs €0.26 in 3Q 2022) Third quarter 2023 results: EPS: €0.16 (down from €0.26 in 3Q 2022). Revenue: €124.5m (down 6.3% from 3Q 2022). Net income: €2.40m (down 40% from 3Q 2022). Profit margin: 1.9% (down from 3.0% in 3Q 2022). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. New Risk • Aug 25
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). 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. Recent Insider Transactions • Apr 21
Key Executive recently bought €99k worth of stock On the 18th of April, Frits van Hout bought around 6k shares on-market at roughly €18.02 per share. This transaction amounted to 87% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Frits has been a buyer over the last 12 months, purchasing a net total of €214k worth in shares. Upcoming Dividend • Apr 12
Upcoming dividend of €0.72 per share at 4.6% yield Eligible shareholders must have bought the stock before 19 April 2023. Payment date: 11 May 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 4.6%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 03
Full year 2022 earnings released: €3.09 loss per share (vs €0.97 profit in FY 2021) Full year 2022 results: €3.09 loss per share (down from €0.97 profit in FY 2021). Revenue: €519.8m (up 12% from FY 2021). Net loss: €46.3m (down 422% from profit in FY 2021). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Buying Opportunity • Feb 18
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €20.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 124% in the next 2 years. Buying Opportunity • Jan 24
Now 20% undervalued Over the last 90 days, the stock is up 23%. The fair value is estimated to be €20.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 124% in the next 2 years. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: €0.26 (vs €0.20 in 3Q 2021) Third quarter 2022 results: EPS: €0.26 (up from €0.20 in 3Q 2021). Revenue: €132.9m (up 17% from 3Q 2021). Net income: €4.00m (up 38% from 3Q 2021). Profit margin: 3.0% (up from 2.6% in 3Q 2021). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Aug 27
Key Executive recently bought €115k worth of stock On the 24th of August, Frits van Hout bought around 7k shares on-market at roughly €15.70 per share. This was the largest purchase by an insider in the last 3 months. This was Frits' only on-market trade for the last 12 months. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: €0.25 (vs €0.36 in 2Q 2021) Second quarter 2022 results: EPS: €0.25 (down from €0.36 in 2Q 2021). Revenue: €126.9m (up 6.4% from 2Q 2021). Net income: €3.70m (down 32% from 2Q 2021). Profit margin: 2.9% (down from 4.5% in 2Q 2021). Over the next year, revenue is forecast to grow 4.4%, compared to a 12% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 05
First quarter 2022 earnings released: EPS: €0.35 (vs €0.40 in 1Q 2021) First quarter 2022 results: EPS: €0.35 (down from €0.40 in 1Q 2021). Revenue: €130.4m (up 13% from 1Q 2021). Net income: €5.10m (down 14% from 1Q 2021). Profit margin: 3.9% (down from 5.1% in 1Q 2021). Over the next year, revenue is forecast to grow 3.9%, compared to a 9.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Annuncio • May 03
Kendrion N.V., Annual General Meeting, Apr 17, 2023 Kendrion N.V., Annual General Meeting, Apr 17, 2023, at 14:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €16.62, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 8x in the Auto Components industry in Germany. Total loss to shareholders of 14% over the past three years. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.97 (up from €0.29 in FY 2020). Revenue: €464.2m (up 17% from FY 2020). Net income: €14.4m (up 235% from FY 2020). Profit margin: 3.1% (up from 1.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.2%. Over the next year, revenue is expected to shrink by 1.1% compared to a 2.4% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS €0.20 (vs €0.11 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €113.4m (up 15% from 3Q 2020). Net income: €2.90m (up 81% from 3Q 2020). Profit margin: 2.6% (up from 1.6% in 3Q 2020). 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 7% per year, which means it has not declined as severely as earnings. Annuncio • Sep 23
Kendrion N.V. (ENXTAM:KENDR) acquired 3T B.V. Kendrion N.V. (ENXTAM:KENDR) acquired 3T B.V. on September 21, 2021. Kendrion N.V. (ENXTAM:KENDR) will finance the deal from its existing resources. 3T employs some 80 FTE, and realizes around €12 million in annual profitable revenues.
Kendrion N.V. (ENXTAM:KENDR) completed the acquisition of 3T B.V. on September 21, 2021. Reported Earnings • Jun 18
First quarter 2021 earnings released: EPS €0.40 (vs €0.20 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €115.3m (up 5.1% from 1Q 2020). Net income: €5.90m (up 97% from 1Q 2020). Profit margin: 5.1% (up from 2.7% in 1Q 2020). Reported Earnings • Feb 20
Full year 2020 earnings released: EPS €0.29 (vs €0.59 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €396.7m (down 3.8% from FY 2019). Net income: €4.30m (down 46% from FY 2019). Profit margin: 1.1% (down from 1.9% in FY 2019). The decrease in margin was driven by lower revenue. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue beats expectations Revenue exceeded analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 1.7%, compared to a 9.7% growth forecast for the Auto Components industry in Germany. Is New 90 Day High Low • Feb 20
New 90-day high: €20.50 The company is up 24% from its price of €16.48 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €43.06 per share. Is New 90 Day High Low • Jan 23
New 90-day high: €19.42 The company is up 19% from its price of €16.36 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Auto Components industry, which is also up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €38.17 per share. Is New 90 Day High Low • Jan 07
New 90-day high: €17.34 The company is up 7.0% from its price of €16.22 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €37.68 per share. Is New 90 Day High Low • Nov 24
New 90-day high: €16.70 The company is up 29% from its price of €12.90 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 Auto Components industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €25.58 per share. Reported Earnings • Nov 05
Third quarter 2020 earnings released: EPS €0.11 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €98.6m (down 4.1% from 3Q 2019). Net income: €1.60m (down 24% from 3Q 2019). Profit margin: 1.6% (down from 2.0% in 3Q 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Oct 06
New 90-day high: €15.84 The company is up 38% from its price of €11.52 on 08 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.30 per share. Annuncio • Jul 22
Kendrion N.V. To Be Deleted From Other OTC Kendrion N.V. Ordinary Shares (Netherlands) will be deleted from Other OTC effective July 17, 2020. The deletion was due to Inactive Security.