New Risk • Jun 25
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 9.3% 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: Minor Risks Dividend is not well covered by earnings (128% payout ratio). Share price has been volatile over the past 3 months (9.3% average weekly change). Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €232, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 12x in the Machinery industry in Germany. Total returns to shareholders of 50% over the past three years. Annuncio • Jun 04
Gévelot SA to Report Q2, 2026 Results on Oct 30, 2026 Gévelot SA announced that they will report Q2, 2026 results on Oct 30, 2026 Declared Dividend • Jun 01
Dividend of €5.00 announced Dividend of €5.00 is the same as last year. Ex-date: 17th June 2026 Payment date: 19th June 2026 Dividend yield will be 2.5%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (128% earnings payout ratio). However, it is well covered by cash flows (36% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 42% to bring the payout ratio under control. EPS is expected to grow by 98% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Board Change • May 21
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. No independent directors (8 non-independent directors). Director Marlene Pham was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Annuncio • Apr 11
Gévelot SA, Annual General Meeting, Jun 11, 2026 Gévelot SA, Annual General Meeting, Jun 11, 2026. Annuncio • Jan 30
Gévelot SA (ENXTPA:ALGEV) commences an Equity Buyback Plan for 75,207 shares, representing 10% for €18 million, under the authorization approved on June 12, 2025. Gévelot SA (ENXTPA:ALGEV) commences share repurchases on January 22, 2026, under the program mandated by the shareholders in the Combined General Meeting held on June 12, 2025. As per the mandate, the company is authorized to repurchase 75,207 shares representing 10% of it's share capital for €18 million. The purpose of the program is for any purpose permitted under the applicable laws and regulations, including but not limited to enhancing market activity or liquidity of the Company’s shares, acquiring shares to hold and potentially use them later as payment or exchange in the context of external growth operations, or canceling the acquired shares. The plan will be valid until December 12, 2026. Annuncio • May 28
Gévelot SA announces Annual dividend, payable on June 20, 2025 Gévelot SA announced Annual dividend of EUR 5.0000 per share payable on June 20, 2025, ex-date on June 18, 2025 and record date on June 19, 2025. Annuncio • Apr 12
Gévelot SA, Annual General Meeting, Jun 12, 2025 Gévelot SA, Annual General Meeting, Jun 12, 2025. New Risk • Oct 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.4% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 16
First half 2024 earnings released First half 2024 results: Revenue: €69.7m (down 8.8% from 1H 2023). Net income: €4.90m (down 32% from 1H 2023). Profit margin: 7.0% (down from 9.4% in 1H 2023). The decrease in margin was driven by lower revenue. Upcoming Dividend • Jun 12
Upcoming dividend of €5.00 per share Eligible shareholders must have bought the stock before 19 June 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 28% and the cash payout ratio is 87%. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.5%). Reported Earnings • May 02
Full year 2023 earnings released: EPS: €17.56 (vs €10.51 in FY 2022) Full year 2023 results: EPS: €17.56 (up from €10.51 in FY 2022). Revenue: €157.1m (up 16% from FY 2022). Net income: €13.3m (up 65% from FY 2022). Profit margin: 8.4% (up from 5.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Apr 29
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 Risk High level of non-cash earnings (25% accrual ratio). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Reported Earnings • Oct 18
First half 2023 earnings released: EPS: €9.53 (vs €2.17 in 1H 2022) First half 2023 results: EPS: €9.53 (up from €2.17 in 1H 2022). Revenue: €76.5m (up 21% from 1H 2022). Net income: €7.22m (up 333% from 1H 2022). Profit margin: 9.4% (up from 2.6% in 1H 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • Jun 21
Upcoming dividend of €4.00 per share at 2.2% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.7%). New Risk • Jun 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 18% per year over the past 5 years. High level of non-cash earnings (27% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Board Change • Nov 16
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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). MD, CEO & Chairman Mario Martignoni was the last director to join the board, commencing their role in 2015. 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 • Oct 15
First half 2022 earnings released First half 2022 results: Revenue: €63.1m (up 33% from 1H 2021). Net income: €1.70m (up 10% from 1H 2021). Profit margin: 2.7% (down from 3.3% in 1H 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jun 09
Upcoming dividend of €3.00 per share Eligible shareholders must have bought the stock before 16 June 2022. Payment date: 20 June 2022. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (2.4%). Reported Earnings • Apr 29
Full year 2021 earnings released: EPS: €9.40 (vs €1.27 in FY 2020) Full year 2021 results: EPS: €9.40 (up from €1.27 in FY 2020). Revenue: €107.3m (up 20% from FY 2020). Net income: €7.24m (up €6.26m from FY 2020). Profit margin: 6.7% (up from 1.1% in FY 2020). The increase in margin was driven by higher revenue. 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. 6 experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Chairman & CEO Mario Martignoni was the last director to join the board, commencing their role in 2015. 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 • May 04
Full year 2020 earnings released: EPS €1.27 (vs €11.25 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €95.7m (down 7.7% from FY 2019). Net income: €976.0k (down 89% from FY 2019). Profit margin: 1.0% (down from 8.3% in FY 2019). 
