New Risk • May 23
New major risk - Revenue and earnings growth Earnings have declined by 79% 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 Negative equity (-€3.8m). Earnings have declined by 79% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€45.0m market cap, or US$52.2m). Reported Earnings • Dec 16
First half 2026 earnings released First half 2026 results: Revenue: €13.8m (up 21% from 1H 2025). Net loss: €1.90m (loss narrowed 62% from 1H 2025). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 1.5% growth forecast for the Entertainment industry in France. New Risk • Dec 15
New major risk - Revenue and earnings growth Earnings have declined by 85% 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 Negative equity (-€1.9m). Earnings have declined by 85% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (€50.6m market cap, or US$59.5m). Annuncio • Aug 06
EuropaCorp, Annual General Meeting, Sep 10, 2025 EuropaCorp, Annual General Meeting, Sep 10, 2025. Location: 14 rue troyon, paris France Reported Earnings • Jun 27
Full year 2025 earnings released Full year 2025 results: Revenue: €31.6m (down 11% from FY 2024). Net loss: €4.90m (down €5.76m from profit in FY 2024). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 2.6% growth forecast for the Entertainment industry in France. New Risk • Feb 18
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 French stocks, typically moving 7.0% 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: Major Risk Negative equity (-€1.9m). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€60.2m market cap, or US$62.9m). Reported Earnings • Dec 13
First half 2025 earnings released: €0.04 loss per share (vs €0 in 1H 2024) First half 2025 results: €0.04 loss per share (further deteriorated from €0 in 1H 2024). Revenue: €11.4m (down 15% from 1H 2024). Net loss: €4.93m (down €4.99m from profit in 1H 2024). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Entertainment industry in France. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. New Risk • Dec 12
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€1.9m 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 Risk Negative equity (-€1.9m). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (€42.6m market cap, or US$44.8m). Major Estimate Revision • Sep 08
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from €0.02 to €0.023. Revenue forecast unchanged at €37.0m. Net income forecast to grow 209% next year vs 30% growth forecast for Entertainment industry in France. Consensus price target of €0.40 unchanged from last update. Share price rose 38% to €0.63 over the past week. Annuncio • Aug 06
EuropaCorp, Annual General Meeting, Sep 12, 2024 EuropaCorp, Annual General Meeting, Sep 12, 2024. Location: club de l etoile, 14 rue troyon, paris France Reported Earnings • Jun 23
Full year 2024 earnings released Full year 2024 results: Revenue: €35.3m (down 5.9% from FY 2023). Net income: €900.0k (up €800.0k from FY 2023). Profit margin: 2.5% (up from 0.3% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Entertainment industry in France. New Risk • Jun 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 500% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (€64.0m market cap, or US$69.7m). New Risk • Jun 23
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.3% Last year net profit margin: 47% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (€63.7m market cap, or US$69.8m). Reported Earnings • Jun 23
Full year 2023 earnings released Full year 2023 results: Revenue: €37.5m (up 6.2% from FY 2022). Net income: €100.0k (down 99% from FY 2022). Profit margin: 0.3% (down from 47% in FY 2022). The decrease in margin was driven by higher expenses. New Risk • Jun 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. 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 Interest payments are not well covered by earnings (1.6x net interest cover). Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (€64.5m market cap, or US$70.4m). Reported Earnings • Dec 16
First half 2023 earnings released: EPS: €0.005 (vs €0.015 loss in 1H 2022) First half 2023 results: EPS: €0.005 (up from €0.015 loss in 1H 2022). Revenue: €13.2m (down 24% from 1H 2022). Net income: €636.0k (up €2.54m from 1H 2022). Profit margin: 4.8% (up from net loss in 1H 2022). Revenue is forecast to grow 122% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Entertainment industry in France. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Co-Founder, Artistic Director & Chairman Luc Besson is the most experienced director on the board, commencing their role in 2012. Independent Director Deborah Carlson was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Jun 30
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: €35.3m (down 15% from FY 2021). Net income: €16.7m (down 86% from FY 2021). Profit margin: 47% (down from 296% in FY 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 16% compared to a 2.9% decline forecast for the industry in France. Price Target Changed • Apr 27
Price target decreased to €1.00 Down from €1.50, the current price target is provided by 1 analyst. New target price is 104% above last closing price of €0.49. Stock is down 37% over the past year. The company is forecast to post earnings per share of €0.024 for next year compared to €1.28 last year. Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Co-Founder, Artistic Director & Chairman Luc Besson is the most experienced director on the board, commencing their role in 2012. Independent Director Deborah Carlson was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Dec 17
First half 2022 earnings: EPS misses analyst expectations First half 2022 results: €0.015 loss per share (down from €1.01 profit in 1H 2021). Revenue: €17.3m (down 34% from 1H 2021). Net loss: €1.91m (down 101% from profit in 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 429%. Earnings per share (EPS) missed analyst estimates by 429%. Over the next year, revenue is forecast to grow 369% compared to a 3.9% decline forecast for the industry in France. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 27
Full year 2021 earnings released Full year 2021 results: Revenue: €41.5m (down 41% from FY 2020). Net income: €122.7m (up €217.7m from FY 2020). Reported Earnings • Jan 02
First half 2021 earnings released: EPS €1.01 First half 2021 results: Revenue: €26.2m (down 36% from 1H 2020). Net income: €123.5m (up €146.2m from 1H 2020). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 16
New 90-day high: €0.85 The company is up 15% from its price of €0.74 on 16 September 2020. The French market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 3.0% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: €0.84 The company is up 12% from its price of €0.75 on 01 September 2020. The French market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Entertainment industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: €0.67 The company is down 5.0% from its price of €0.71 on 28 July 2020. The French market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 12% over the same period. Is New 90 Day High Low • Sep 26
New 90-day low: €0.69 The company is down 8.0% from its price of €0.75 on 26 June 2020. The French market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 5.0% over the same period.