Annuncio • May 21
Netgem SA, Annual General Meeting, Jun 29, 2026 Netgem SA, Annual General Meeting, Jun 29, 2026. Location: 103 rue de grenelle, paris France New Risk • May 20
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 109% Cash payout ratio: 103% Dividend yield: 6.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 109% Cash payout ratio: 103% Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Market cap is less than US$100m (€25.9m market cap, or US$30.1m). Reported Earnings • Mar 27
Full year 2025 earnings released Full year 2025 results: Revenue: €31.7m (down 6.1% from FY 2024). Net income: €1.50m (down 23% from FY 2024). Profit margin: 4.7% (down from 5.8% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Software industry in France. New Risk • Mar 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 8.1% 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 Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (110% payout ratio). Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (€26.0m market cap, or US$29.8m). New Risk • Feb 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (110% payout ratio). Market cap is less than US$100m (€24.7m market cap, or US$29.1m). Price Target Changed • Jan 30
Price target decreased by 15% to €1.15 Down from €1.35, the current price target is an average from 2 analysts. New target price is 52% above last closing price of €0.76. Stock is down 20% over the past year. The company is forecast to post earnings per share of €0.047 for next year compared to €0.058 last year. Major Estimate Revision • Aug 04
Consensus EPS estimates fall by 60% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €33.8m to €32.6m. EPS estimate also fell from €0.122 per share to €0.049 per share. Net income forecast to shrink 14% next year vs 14% growth forecast for Software industry in France . Consensus price target down from €1.50 to €1.35. Share price fell 2.9% to €0.94 over the past week. Major Estimate Revision • Aug 03
Consensus EPS estimates fall by 60% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €33.8m to €32.6m. EPS estimate also fell from €0.122 per share to €0.049 per share. Net income forecast to shrink 14% next year vs 16% growth forecast for Software industry in France . Consensus price target down from €1.50 to €1.35. Share price was steady at €0.96 over the past week. Price Target Changed • Jul 31
Price target decreased by 13% to €1.40 Down from €1.60, the current price target is an average from 2 analysts. New target price is 44% above last closing price of €0.97. Stock is up 26% over the past year. The company posted earnings per share of €0.058 last year. Upcoming Dividend • May 27
Upcoming dividend of €0.05 per share Eligible shareholders must have bought the stock before 03 June 2025. Payment date: 05 June 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.3%. Lower than top quartile of French dividend payers (5.4%). Higher than average of industry peers (0.8%). Reported Earnings • May 05
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: €0.058 (up from €0.016 in FY 2023). Revenue: €33.8m (down 5.1% from FY 2023). Net income: €1.95m (up 261% from FY 2023). Profit margin: 5.8% (up from 1.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Software industry in France. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 17
Dividend of €0.05 announced Dividend of €0.05 is the same as last year. Ex-date: 3rd June 2025 Payment date: 5th June 2025 Dividend yield will be 5.1%, which is higher than the industry average of 0.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 22% to bring the payout ratio under control. EPS is expected to grow by 210% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Annuncio • Mar 29
Netgem SA, Annual General Meeting, May 22, 2025 Netgem SA, Annual General Meeting, May 22, 2025. New Risk • Feb 21
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 110% Cash payout ratio: 230% Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€31.8m market cap, or US$33.3m). Price Target Changed • Jan 30
Price target decreased by 8.8% to €1.55 Down from €1.70, the current price target is an average from 2 analysts. New target price is 63% above last closing price of €0.95. Stock is down 8.2% over the past year. The company is forecast to post earnings per share of €0.053 for next year compared to €0.016 last year. Reported Earnings • Aug 05
First half 2024 earnings released First half 2024 results: Revenue: €16.7m (down 7.5% from 1H 2023). Net income: €800.0k (up €939.0k from 1H 2023). Profit margin: 4.8% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Software industry in France. Major Estimate Revision • Aug 02
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €35.7m to €35.1m. EPS estimate also fell from €0.08 per share to €0.06 per share. Net income forecast to grow 307% next year vs 24% growth forecast for Software industry in France. Consensus price target down from €1.70 to €1.60. Share price fell 3.3% to €0.77 over the past week. Price Target Changed • Jul 31
Price target decreased by 8.3% to €1.65 Down from €1.80, the current price target is an average from 2 analysts. New target price is 103% above last closing price of €0.81. Stock is down 22% over the past year. The company is forecast to post earnings per share of €0.08 for next year compared to €0.016 last year. Upcoming Dividend • Jun 05
Upcoming dividend of €0.05 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 14 June 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.3%. Within top quartile of French dividend payers (5.1%). Higher than average of industry peers (0.6%). Reported Earnings • May 03
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €0.016 (up from €0.004 in FY 2022). Revenue: €35.6m (down 2.0% from FY 2022). Net income: €541.0k (up 401% from FY 2022). Profit margin: 1.5% (up from 0.3% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Software industry in France. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 26
Dividend of €0.05 announced Shareholders will receive a dividend of €0.05. Ex-date: 12th June 2024 Payment date: 14th June 2024 Dividend yield will be 5.3%, which is higher than the industry average of 0.5%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 248% to bring the payout ratio under control. EPS is expected to grow by 333% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Feb 18
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Dividend is not well covered by earnings (313% payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (€32.5m market cap, or US$35.1m). Price Target Changed • Sep 06
Price target increased by 8.8% to €1.85 Up from €1.70, the current price target is an average from 2 analysts. New target price is 83% above last closing price of €1.01. Stock is down 6.0% over the past year. The company is forecast to post earnings per share of €0.035 for next year compared to €0.0037 last year. New Risk • Aug 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% 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: Minor Risks Dividend is not well covered by earnings (313% payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (€35.1m market cap, or US$38.4m). Reported Earnings • Aug 03
First half 2023 earnings released First half 2023 results: Revenue: €18.1m (up 11% from 1H 2022). Net loss: €100.0k (loss narrowed 81% from 1H 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Software industry in France. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 28
Price target increased by 9.4% to €1.75 Up from €1.60, the current price target is an average from 2 analysts. New target price is 52% above last closing price of €1.15. Stock is down 15% over the past year. The company is forecast to post earnings per share of €0.037 for next year compared to €0.0037 last year. New Risk • Jul 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% 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 Dividend is not well covered by earnings and cash flows. Dividend per share is over 13x earnings per share. Cash payout ratio: 292% Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (€33.9m market cap, or US$37.3m). Annuncio • Jun 24
Netgem SA (ENXTPA:ALNTG) acquired Eclair Préservation and Eclair Digital Services for an enterprise value of 4 million. Netgem SA (ENXTPA:ALNTG) acquired Eclair Préservation and Eclair Digital Services for an enterprise value of 4 million on June 23, 2023. In parallel with these acquisitions, Netgem has announced that it is buying out the minority stakes held by Caisse des Dépôts and Oceinde in Vitis.Netgem SA (ENXTPA:ALNTG) completed the acquisition of Eclair Préservation and Eclair Digital Services for an enterprise value of 4 million on June 23, 2023. Upcoming Dividend • May 31
Upcoming dividend of €0.05 per share at 4.7% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 09 June 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 4.7%. Lower than top quartile of French dividend payers (5.3%). Higher than average of industry peers (0.6%). Annuncio • Feb 02
J.2.H. SARL acquired additional unknown minority stake in Netgem SA (ENXTPA:ALNTG). J.2.H. SARL acquired additional unknown minority stake in Netgem SA (ENXTPA:ALNTG) on January 20, 2023. Following this transaction, J.2.H. SARL’s shareholding has reached to 8,992,435 NETGEM shares, representing 29.27% of its capital.J.2.H. SARL completed the acquisition of additional unknown minority stake in Netgem SA (ENXTPA:ALNTG) on January 20, 2023. 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. 4 experienced directors. 4 highly experienced directors. 1 independent director (6 non-independent directors). Representative Director Catherine Haddad was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Oct 21
Price target decreased to €1.65 Down from €1.90, the current price target is an average from 2 analysts. New target price is 56% above last closing price of €1.06. Stock is down 24% over the past year. The company is forecast to post a net loss per share of €0.0033 next year compared to a net loss per share of €0.045 last year. Reported Earnings • Jul 31
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up €976.0k from 1H 2021). Profit margin: (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the next year, revenue is forecast to grow 35%, compared to a 11% growth forecast for the industry in France. Upcoming Dividend • May 31
Upcoming dividend of €0.03 per share Eligible shareholders must have bought the stock before 07 June 2022. Payment date: 09 June 2022. Trailing yield: 2.3%. Lower than top quartile of French dividend payers (4.9%). Higher than average of industry peers (0.5%). Reported Earnings • May 01
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: €0.045 loss per share (down from €0.25 profit in FY 2020). Revenue: €28.3m (down 6.5% from FY 2020). Net loss: €1.31m (down 118% from profit in FY 2020). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 100%. Over the next year, revenue is forecast to grow 17%, compared to a 12% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to €1.95 Up from €1.65, the current price target is an average from 2 analysts. New target price is 48% above last closing price of €1.32. Stock is up 8.2% over the past year. The company is forecast to post a net loss per share of €0.074 compared to earnings per share of €0.25 last year. Board Change • Apr 27
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. 5 experienced directors. 3 highly experienced directors. 1 independent director (6 non-independent directors). Representative Director Catherine Haddad was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Apr 01
Consensus EPS estimates have been upgraded The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €34.7m to €35.9m. EPS estimate increased from -€0.01 per share to €0 per share. Software industry in France expected to see average net income growth of 15% next year. Consensus price target of €1.95 unchanged from last update. Share price rose 9.7% to €1.47 over the past week. Price Target Changed • Nov 17
Price target increased to €1.95 Up from €1.55, the current price target is an average from 2 analysts. New target price is 24% above last closing price of €1.57. Stock is up 57% over the past year. The company is forecast to post a net loss per share of €0.059 compared to earnings per share of €0.25 last year. Reported Earnings • Aug 03
First half 2021 earnings released The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: €14.7m (down 4.3% from 1H 2020). Net loss: €1.00m (down 112% from profit in 1H 2020). Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €1.31, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 35x in the Software industry in France. Total loss to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.86 per share. Price Target Changed • Mar 19
Price target increased to €1.55 Up from €1.10, the current price target is an average from 2 analysts. New target price is 6.9% above last closing price of €1.45. Stock is up 61% over the past year. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improved over the past week After last week's 22% share price gain to €1.69, the stock is trading at a trailing P/E ratio of 12.2x, up from the previous P/E ratio of 10.1x. This compares to an average P/E of 66x in the Software industry in France. Total return to shareholders over the past three years is a loss of 24%. Is New 90 Day High Low • Mar 03
New 90-day high: €1.52 The company is up 52% from its price of €1.00 on 03 December 2020. The French market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.28 per share. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €1.19, the stock is trading at a trailing P/E ratio of 8.6x, down from the previous P/E ratio of 10.6x. This compares to an average P/E of 63x in the Software industry in France. Total return to shareholders over the past three years is a loss of 50%. Is New 90 Day High Low • Jan 22
New 90-day high: €1.47 The company is up 32% from its price of €1.11 on 23 October 2020. The French market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.06 per share. Is New 90 Day High Low • Dec 10
New 90-day high: €1.18 The company is up 5.0% from its price of €1.13 on 11 September 2020. The French market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Software industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.03 per share. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 18% share price gain to €1.18, the stock is trading at a trailing P/E ratio of 8.5x, up from the previous P/E ratio of 7.2x. This compares to an average P/E of 41x in the Software industry in France. Total return to shareholders over the past three years is a loss of 43%. Is New 90 Day High Low • Oct 29
New 90-day low: €0.98 The company is down 8.0% from its price of €1.06 on 30 July 2020. The French market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.45 per share. Major Estimate Revision • Oct 22
Analysts update estimates The 2020 consensus revenue estimate was lowered from €38.0m to €30.3m. Earning per share (EPS) estimate received an upgrade, with analysts raising their estimates from €0.22 to €0.25 for the same period. Net income is expected to grow by 1.1% next year compared to 12% growth forecast for the Software industry in France. The consensus price target increased from €1.10 to €1.15. Share price stayed mostly flat at €1.09 over the past week.