Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.76, the stock trades at a trailing P/E ratio of 17.5x. Average forward P/E is 10x in the Machinery industry in Germany. Total loss to shareholders of 35% over the past three years. New Risk • Sep 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x 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 (1.3x net interest cover). Minor Risk Market cap is less than US$100m (€17.2m market cap, or US$19.2m). Reported Earnings • May 19
Full year 2023 earnings released Full year 2023 results: Revenue: €63.9m (up 15% from FY 2022). Net loss: €5.7k (down 101% from profit in FY 2022). Profit margin: 0% (down from 0.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. New Risk • Apr 08
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 Risks Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€23.2m market cap, or US$25.2m). Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €2.53, the stock trades at a trailing P/E ratio of 29.5x. Average forward P/E is 12x in the Machinery industry in Germany. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €2.28, the stock trades at a trailing P/E ratio of 27.3x. Average forward P/E is 12x in the Machinery industry in Germany. Total returns to shareholders of 21% over the past year. New Risk • Jan 31
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 10% 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 Risks Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Market cap is less than US$100m (€21.5m market cap, or US$23.3m). Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €2.53, the stock trades at a trailing P/E ratio of 30.3x. Average forward P/E is 11x in the Machinery industry in Germany. Total returns to shareholders of 16% over the past year. New Risk • Nov 30
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 7.7% 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 Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (€19.5m market cap, or US$21.4m). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to €2.24, the stock trades at a trailing P/E ratio of 24.2x. Average forward P/E is 10x in the Machinery industry in Germany. Total returns to shareholders of 30% 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. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 29
First half 2022 earnings released First half 2022 results: Revenue: €28.9m (up 13% from 1H 2021). Net loss: €572.2k (down €646.2k from profit in 1H 2021). 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. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 03
First half 2021 earnings released: EPS €0.009 (vs €0.71 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €25.5m (up 27% from 1H 2020). Net income: €74.1k (up €6.10m from 1H 2020). Profit margin: 0.3% (up from net loss in 1H 2020). The move to profitability was primarily driven by higher revenue. Reported Earnings • Jun 20
Full year 2020 earnings released: €1.22 loss per share The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €37.5m (down 30% from FY 2019). Net loss: €10.3m (down €10.3m from profit in FY 2019).