New Risk • Jun 08
New major risk - Revenue and earnings growth Earnings have declined by 41% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Negative equity (-€28m). Earnings have declined by 41% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (€25.6m market cap, or US$29.5m). Annuncio • May 25
Holaluz-Clidom, S.A., Annual General Meeting, Jun 25, 2026 Holaluz-Clidom, S.A., Annual General Meeting, Jun 25, 2026. Board Change • May 21
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. 6 non-independent directors. Director Eduardo Vila was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Apr 24
Holaluz-Clidom, S.A. to Report Fiscal Year 2025 Results on Apr 27, 2026 Holaluz-Clidom, S.A. announced that they will report fiscal year 2025 results at 9:00 AM, Romance Standard Time on Apr 27, 2026 New Risk • Jan 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Negative equity (-€17m). Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (€9.1m net loss in 3 years). Market cap is less than US$100m (€23.9m market cap, or US$28.1m). Board Change • Dec 30
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. 6 non-independent directors. Director Eduardo Vila was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Oct 28
Holaluz-Clidom, S.A. to Report First Half, 2025 Results on Oct 30, 2025 Holaluz-Clidom, S.A. announced that they will report first half, 2025 results on Oct 30, 2025 Annuncio • May 23
Holaluz-Clidom, S.A., Annual General Meeting, Jun 26, 2025 Holaluz-Clidom, S.A., Annual General Meeting, Jun 26, 2025. New Risk • Nov 08
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€3.2m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Negative equity (-€3.2m). Earnings have declined by 55% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€32.2m market cap, or US$34.5m). Annuncio • Nov 06
Holaluz-Clidom, S.A. announced that it expects to receive €22 million in funding from ICOSIUM Investment, S.L Holaluz-Clidom, S.A. announced a private placement to issue 3,600,000 common shares at an issue price of €1.80 per share for the gross proceeds of €6,840,000 and the second phase of the investment of the remaining €15,520,000, is expected to be completed within the following months at €2.10 per share through the subscription of a convertible loan. on November 4, 2024. The transaction will include participation from returning investor ICOSIUM Investment, S.L. with 14.12% stake. The initial phase will be the investment of €6,48,000 of capital contribution through the issuance of new common shares at €1.80 per share without pre-emptive rights, using the prior authorization granted by the This will grant ICOSIUM with 14,12% ownership of the Company. The investor will appoint one additional member to the Board of Directors of company. The total investment is €22,000,000 in the transaction. Reported Earnings • May 05
Full year 2023 earnings released Full year 2023 results: Revenue: €283.1m (down 69% from FY 2022). Net loss: €26.2m (loss widened 412% from FY 2022). New Risk • May 03
New major risk - Revenue and earnings growth Earnings have declined by 80% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 80% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (€56.1m market cap, or US$60.2m). Annuncio • Apr 26
Holaluz-Clidom, S.A. to Report Fiscal Year 2023 Results on Apr 30, 2024 Holaluz-Clidom, S.A. announced that they will report fiscal year 2023 results at 9:00 AM, Romance Standard Time on Apr 30, 2024 Annuncio • Apr 23
Holaluz-Clidom, S.A. announced that it expects to receive €8 million in funding Holaluz-Clidom, S.A. announced a private placement of €2 million on convertible loan and €6 million equity line on April 23, 2024. The transaction will include participation from several Catalan family offices for convertible loan. Buy Or Sell Opportunity • Apr 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.2% to €2.56. The fair value is estimated to be €3.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 20% in a year. Earnings are forecast to grow by 88% in the next year. New Risk • Dec 06
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 German stocks, typically moving 9.5% 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 Risk Share price has been highly volatile over the past 3 months (9.5% average weekly change). Minor Risk Market cap is less than US$100m (€47.8m market cap, or US$51.6m). Buying Opportunity • Nov 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 48%. The fair value is estimated to be €3.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 18% in a year. Earnings is forecast to grow by 79% in the next year. Reported Earnings • Nov 06
First half 2023 earnings released First half 2023 results: €0.96 loss per share. Net loss: €20.9m (flat on 1H 2022). Revenue is expected to fall by 13% p.a. on average during the next 4 years compared to a 3.3% decline forecast for the Electric Utilities industry in Europe. New Risk • Nov 02
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €5.1m Forecast net loss in 2 years: €3.4m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€3.4m net loss in 2 years). Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€71.2m market cap, or US$75.2m). Annuncio • Oct 20
Holaluz-Clidom, S.A. to Report First Half, 2023 Results on Oct 31, 2023 Holaluz-Clidom, S.A. announced that they will report first half, 2023 results on Oct 31, 2023 New Risk • Oct 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €89.5m (US$94.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. New Risk • Aug 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 6.6% 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 • May 03
Full year 2022 earnings released Full year 2022 results: Revenue: €919.8m (up 61% from FY 2021). Net loss: €5.12m (loss narrowed 39% from FY 2021). Revenue is expected to fall by 16% p.a. on average during the next 3 years compared to a 4.4% decline forecast for the Electric Utilities industry in Europe. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €6.16, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total loss to shareholders of 50% over the past year. 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. 7 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Isabela Perez Nivela 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. Insufficient board refreshment. Annuncio • May 10
Holaluz-Clidom, S.A. (BME:HLZ) acquired Customer portfolio of peer OVO Energy from OVO Energy Spain S.L. Holaluz-Clidom, S.A. (BME:HLZ) acquired Customer portfolio of peer OVO Energy from OVO Energy Spain S.L. on may 9, 2022.
Holaluz-Clidom, S.A. (BME:HLZ) completed the acquisition of Customer portfolio of peer OVO Energy from OVO Energy Spain S.L. on may 9, 2022. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Isabela Perez Nivela 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. Insufficient board refreshment. Annuncio • Jan 20
Holaluz-Clidom, S.A. (BME:HLZ) acquired KATAE ENERGÍA, S.L. and Serna Energia S.L. and GHC Instalaciones. Holaluz-Clidom, S.A. (BME:HLZ) acquired KATAE ENERGÍA, S.L. and Serna Energia S.L. and GHC Instalaciones on January 19, 2022.
Holaluz-Clidom, S.A. (BME:HLZ) completed the acquisition of KATAE ENERGÍA, S.L. and Serna Energia S.L. and GHC Instalaciones on January 19, 2022. 
