View ValuationErbud 将来の成長Future 基準チェック /06 Erbudは収益が増加すると予測されています。主要情報n/a収益成長率n/aEPS成長率Construction 収益成長11.0%収益成長率0.7%将来の株主資本利益率n/aアナリストカバレッジLow最終更新日13 May 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesお知らせ • Apr 23Erbud S.A., Annual General Meeting, May 19, 2026Erbud S.A., Annual General Meeting, May 19, 2026, at 16:15 Central European Standard Time.New Risk • Dec 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 10% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 57% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (€79.7m market cap, or US$93.6m).お知らせ • Nov 06Erbud S.A. to Report Q3, 2025 Results on Nov 06, 2025Erbud S.A. announced that they will report Q3, 2025 results on Nov 06, 2025お知らせ • Aug 21Erbud S.A. to Report First Half, 2025 Results on Sep 10, 2025Erbud S.A. announced that they will report first half, 2025 results on Sep 10, 2025お知らせ • May 01Erbud S.A., Annual General Meeting, May 27, 2025Erbud S.A., Annual General Meeting, May 27, 2025.Reported Earnings • Nov 08Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: zł771.1m (down 11% from 3Q 2023). Net income: zł5.05m (down 93% from 3Q 2023). Profit margin: 0.7% (down from 7.8% in 3Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.New Risk • Sep 24New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 76% 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 Earnings have declined by 17% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (140% payout ratio). Large one-off items impacting financial results.New Risk • Sep 12New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €88.5m (US$98.0m) 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€88.5m market cap, or US$98.0m).Reported Earnings • Sep 11Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: zł689.2m (down 20% from 2Q 2023). Net loss: zł8.34m (down 341% from profit in 2Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings.Declared Dividend • May 19Dividend of zł1.68 announcedShareholders will receive a dividend of zł1.68. Ex-date: 21st May 2024 Payment date: 4th June 2024 Dividend yield will be 17%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not covered by earnings (200% earnings payout ratio). However, it is well covered by cash flows (9% cash payout ratio). The dividend has increased by an average of 14% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 123% to bring the payout ratio under control. However, EPS has declined by 6.0% over the last 5 years so the company would need to reverse this trend.Upcoming Dividend • May 14Upcoming dividend of zł1.68 per shareEligible shareholders must have bought the stock before 21 May 2024. Payment date: 04 June 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (3.8%).Reported Earnings • May 09First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: zł644.3m (down 11% from 1Q 2023). Net income: zł2.76m (up zł16.2m from 1Q 2023). Profit margin: 0.4% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 13% per year.お知らせ • Apr 23Erbud S.A., Annual General Meeting, May 17, 2024Erbud S.A., Annual General Meeting, May 17, 2024, at 14:00 Central European Standard Time. Location: UL. FRANCISZKA KLIMCZAKA 1 Warsaw Poland Agenda: To consider the report on the Activities of ERBUD S.A. Supervisory Board in the financial year ended on 31 December 2023; to consider the distribution of the profit generated in the financial year ended on 31 December 2023; to consider granting a vote of approval to the members of the Management Board for the performance of their duties in the financial year ended on 31 December 2023; to consider the granting a vote of approval to the members of the Supervisory Board for the performance of their duties in the financial year ended on 31 December 2023; to amend the company's Statutes; to approve the uniform text of the company's Statutes; to consider the appointment of new members of the company's Supervisory Board; and to consider other matters.New Risk • Apr 10New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% 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 (200% payout ratio). Large one-off items impacting financial results.Reported Earnings • Mar 28Full year 2023 earnings releasedFull year 2023 results: Revenue: zł3.23b (down 16% from FY 2022). Net income: zł10.0m (up 21% from FY 2022). Profit margin: 0.3% (up from 0.2% in FY 2022). The increase in margin was driven by lower expenses.Valuation Update With 7 Day Price Move • Feb 28Investor sentiment improves as stock rises 32%After last week's 32% share price gain to €10.60, the stock trades at a trailing P/E ratio of 8.4x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 47% over the past year.お知らせ • Jan 10+ 3 more updatesErbud S.A. to Report Q1, 2024 Results on May 08, 2024Erbud S.A. announced that they will report Q1, 2024 results on May 08, 2024お知らせ • Jan 04Erbud S.A. (WSE:ERB) acquired CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR).Erbud S.A. (WSE:ERB) acquired CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR) on January 3, 2024. Upon completion, CKTiS has employed 130 people. Erbud S.A. (WSE:ERB) completed the acquisition of CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR) on January 3, 2024.New Risk • Dec 01New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €91.8m (US$99.9m) 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (dividend per share is over 43x earnings per share). Market cap is less than US$100m (€91.8m market cap, or US$99.9m).Reported Earnings • Nov 17Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: zł865.0m (down 14% from 3Q 2022). Net income: zł67.6m (up zł64.7m from 3Q 2022). Profit margin: 7.8% (up from 0.3% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Construction industry in Germany are expected to grow by 7.3%.Reported Earnings • Sep 08Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: zł861.6m (down 16% from 2Q 2022). Net income: zł3.47m (up zł5.03m from 2Q 2022). Profit margin: 0.4% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Construction industry in Germany are expected to grow by 8.8%.お知らせ • May 09Erbud S.A., Annual General Meeting, May 22, 2023Erbud S.A., Annual General Meeting, May 22, 2023, at 15:30 Central European Standard Time.Valuation Update With 7 Day Price Move • Apr 15Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €8.80, the stock trades at a trailing P/E ratio of 60.7x. Average forward P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 11% over the past year.お知らせ • Jan 12+ 3 more updatesErbud S.A. to Report First Half, 2023 Results on Sep 06, 2023Erbud S.A. announced that they will report first half, 2023 results on Sep 06, 2023Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to €6.64, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 10x in the Construction industry in Germany. Total loss to shareholders of 50% over the past year.Reported Earnings • Nov 09Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: zł1.01b (up 14% from 3Q 2021). Net income: zł3.33m (up zł27.2m from 3Q 2021). Profit margin: 0.3% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue.Reported Earnings • May 12First quarter 2022 earnings releasedFirst quarter 2022 results: Revenue: zł763.9m (up 42% from 1Q 2021). Net income: zł179.0k (up zł7.61m from 1Q 2021). Profit margin: 0% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue.お知らせ • Apr 26Erbud S.A., Annual General Meeting, May 20, 2022Erbud S.A., Annual General Meeting, May 20, 2022, at 13:00 Central European Standard Time.Reported Earnings • Apr 10Full year 2021 earnings releasedFull year 2021 results: Revenue: zł3.10b (up 39% from FY 2020). Net income: zł8.79m (down 81% from FY 2020). Profit margin: 0.3% (down from 2.1% in FY 2020). The decrease in margin was driven by higher expenses.Reported Earnings • Nov 10Third quarter 2021 earnings releasedThe company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: zł881.0m (up 69% from 3Q 2020). Net loss: zł23.9m (down 207% from profit in 3Q 2020).Reported Earnings • Sep 04Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł754.1m (up 17% from 2Q 2020). Net income: zł21.4m (up 83% from 2Q 2020). Profit margin: 2.8% (up from 1.8% in 2Q 2020). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Jul 06Investor sentiment improved over the past weekAfter last week's 16% share price gain to zł21.30, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 15x in the Construction industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €26.12 per share.Valuation Update With 7 Day Price Move • Jun 18Investor sentiment improved over the past weekAfter last week's 18% share price gain to zł17.00, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 15x in the Construction industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €21.23 per share.お知らせ • Jun 03Erbud S.A. (WSE:ERB) acquired Bilfinger Rohrleitungsbau GmbH.Erbud S.A. (WSE:ERB) acquired Bilfinger Rohrleitungsbau GmbH from Bilfinger Berger Industrial Services GmbH on June 1, 2021. Bilfinger will operate under the name IKR in the Erbud Group. Bilfinger generated revenue of €39.3 million in 2020. Bern König will retain the position of president, Andreas Schmitz, president of the service company IVT Weiner + Reimann GmbH from Oberhausen, taken over by ERBUD in 2018, will join the management board. Erbud S.A. (WSE:ERB) completed the acquisition of Bilfinger Rohrleitungsbau GmbH from Bilfinger Berger Industrial Services GmbH on June 1, 2021. Manfred Steinborn, Fabian Kinalzik of RSM GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft acted as legal advisor and Nils Wördemann, Jörg Zerhusen of RWP Rechtsanwälte acted as legal advisors to Erbud S.A in the deal. Ulrich Schneider, Christoph Studinka, John Jürgens of Proventis Partners GmbH acted as financial advisors to Bilfinger SE. Benjamin Parameswaran, Christoph Dachner, Semin ODLA Piper acted as legal advisor for Bilfinger Berger Industrial. Clairfield International LLC acted as financial advisor to Erbud S.A.Reported Earnings • May 15First quarter 2021 earnings released: EPS zł1.51 (vs zł0.041 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: zł536.7m (up 22% from 1Q 2020). Net income: zł19.3m (up zł19.8m from 1Q 2020). Profit margin: 3.6% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue.Reported Earnings • Apr 10Full year 2020 earnings released: EPS zł3.65 (vs zł2.63 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: zł2.23b (down 3.7% from FY 2019). Net income: zł46.7m (up 39% from FY 2019). Profit margin: 2.1% (up from 1.5% in FY 2019). The increase in margin was driven by lower expenses.業績と収益の成長予測DB:9DP - アナリストの将来予測と過去の財務データ ( )PLN Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20273,149N/AN/AN/A212/31/20263,145N/AN/AN/A13/31/20263,112-41-62-43N/A12/31/20253,258-36-61-37N/A9/30/20253,319-48-2071N/A6/30/20253,179-35-4447N/A3/31/20253,069-455102N/A12/31/20242,980-2987182N/A9/30/20242,892-48200233N/A6/30/20242,98614202230N/A3/31/20243,15826225246N/A12/31/20233,23410234257N/A9/30/20233,507657388N/A6/30/20233,6480115144N/A3/31/20233,812-5-135-93N/A12/31/20223,8568-190-136N/A9/30/20223,72620-242-153N/A6/30/20223,602-7-379-300N/A3/31/20223,32915-306-228N/A12/31/20213,1029-261-173N/A9/30/20212,7933-79-25N/A6/30/20212,4354968119N/A3/31/20212,32541193230N/A12/31/20202,22847291304N/A9/30/20202,131404154N/A6/30/20202,199293043N/A3/31/20202,152311330N/A12/31/20192,31334N/A-116N/A9/30/20192,49631N/A35N/A6/30/20192,57124N/A62N/A3/31/20192,501-23N/A72N/A12/31/20182,332-20N/A67N/A9/30/20182,148-16N/A38N/A6/30/20181,989-13N/A-41N/A3/31/20181,89427N/A-61N/A12/31/20171,80523N/A-44N/A9/30/20171,85822N/A-30N/A6/30/20171,77818N/A24N/A3/31/20171,79230N/A51N/A12/31/20161,79036N/A75N/A9/30/20161,63528N/A3N/A6/30/20161,69835N/A1N/A3/31/20161,74424N/A-22N/A12/31/20151,71519N/A9N/A9/30/20151,73431N/A129N/A6/30/20151,67527N/A78N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 9DPの予測収益成長が 貯蓄率 ( 1.9% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: 9DPの収益がGerman市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: 9DPの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: 9DPの収益 ( 0.7% ) German市場 ( 6.7% ) よりも低い成長が予測されています。高い収益成長: 9DPの収益 ( 0.7% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 9DPの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YCapital-goods 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/06/09 13:13終値2026/06/09 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Erbud S.A. 2 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。9 アナリスト機関Kamil KliszczBiuro maklerskie mBankuPawel PuchalskiErste Bank Polska S.A.Tomasz SokolowskiErste Bank Polska S.A.6 その他のアナリストを表示
お知らせ • Apr 23Erbud S.A., Annual General Meeting, May 19, 2026Erbud S.A., Annual General Meeting, May 19, 2026, at 16:15 Central European Standard Time.
New Risk • Dec 30New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 10% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 57% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (€79.7m market cap, or US$93.6m).
お知らせ • Nov 06Erbud S.A. to Report Q3, 2025 Results on Nov 06, 2025Erbud S.A. announced that they will report Q3, 2025 results on Nov 06, 2025
お知らせ • Aug 21Erbud S.A. to Report First Half, 2025 Results on Sep 10, 2025Erbud S.A. announced that they will report first half, 2025 results on Sep 10, 2025
お知らせ • May 01Erbud S.A., Annual General Meeting, May 27, 2025Erbud S.A., Annual General Meeting, May 27, 2025.
Reported Earnings • Nov 08Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: zł771.1m (down 11% from 3Q 2023). Net income: zł5.05m (down 93% from 3Q 2023). Profit margin: 0.7% (down from 7.8% in 3Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings.
New Risk • Sep 24New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 76% 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 Earnings have declined by 17% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (140% payout ratio). Large one-off items impacting financial results.
New Risk • Sep 12New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €88.5m (US$98.0m) 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€88.5m market cap, or US$98.0m).
Reported Earnings • Sep 11Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: zł689.2m (down 20% from 2Q 2023). Net loss: zł8.34m (down 341% from profit in 2Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings.
Declared Dividend • May 19Dividend of zł1.68 announcedShareholders will receive a dividend of zł1.68. Ex-date: 21st May 2024 Payment date: 4th June 2024 Dividend yield will be 17%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not covered by earnings (200% earnings payout ratio). However, it is well covered by cash flows (9% cash payout ratio). The dividend has increased by an average of 14% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 123% to bring the payout ratio under control. However, EPS has declined by 6.0% over the last 5 years so the company would need to reverse this trend.
Upcoming Dividend • May 14Upcoming dividend of zł1.68 per shareEligible shareholders must have bought the stock before 21 May 2024. Payment date: 04 June 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (3.8%).
Reported Earnings • May 09First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: zł644.3m (down 11% from 1Q 2023). Net income: zł2.76m (up zł16.2m from 1Q 2023). Profit margin: 0.4% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 13% per year.
お知らせ • Apr 23Erbud S.A., Annual General Meeting, May 17, 2024Erbud S.A., Annual General Meeting, May 17, 2024, at 14:00 Central European Standard Time. Location: UL. FRANCISZKA KLIMCZAKA 1 Warsaw Poland Agenda: To consider the report on the Activities of ERBUD S.A. Supervisory Board in the financial year ended on 31 December 2023; to consider the distribution of the profit generated in the financial year ended on 31 December 2023; to consider granting a vote of approval to the members of the Management Board for the performance of their duties in the financial year ended on 31 December 2023; to consider the granting a vote of approval to the members of the Supervisory Board for the performance of their duties in the financial year ended on 31 December 2023; to amend the company's Statutes; to approve the uniform text of the company's Statutes; to consider the appointment of new members of the company's Supervisory Board; and to consider other matters.
New Risk • Apr 10New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 23% 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 (200% payout ratio). Large one-off items impacting financial results.
Reported Earnings • Mar 28Full year 2023 earnings releasedFull year 2023 results: Revenue: zł3.23b (down 16% from FY 2022). Net income: zł10.0m (up 21% from FY 2022). Profit margin: 0.3% (up from 0.2% in FY 2022). The increase in margin was driven by lower expenses.
Valuation Update With 7 Day Price Move • Feb 28Investor sentiment improves as stock rises 32%After last week's 32% share price gain to €10.60, the stock trades at a trailing P/E ratio of 8.4x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 47% over the past year.
お知らせ • Jan 10+ 3 more updatesErbud S.A. to Report Q1, 2024 Results on May 08, 2024Erbud S.A. announced that they will report Q1, 2024 results on May 08, 2024
お知らせ • Jan 04Erbud S.A. (WSE:ERB) acquired CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR).Erbud S.A. (WSE:ERB) acquired CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR) on January 3, 2024. Upon completion, CKTiS has employed 130 people. Erbud S.A. (WSE:ERB) completed the acquisition of CKTiS Spólka Akcyjna from Termo-Rex S.A. (WSE:TRR) on January 3, 2024.
New Risk • Dec 01New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €91.8m (US$99.9m) 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (dividend per share is over 43x earnings per share). Market cap is less than US$100m (€91.8m market cap, or US$99.9m).
Reported Earnings • Nov 17Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: zł865.0m (down 14% from 3Q 2022). Net income: zł67.6m (up zł64.7m from 3Q 2022). Profit margin: 7.8% (up from 0.3% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Construction industry in Germany are expected to grow by 7.3%.
Reported Earnings • Sep 08Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: zł861.6m (down 16% from 2Q 2022). Net income: zł3.47m (up zł5.03m from 2Q 2022). Profit margin: 0.4% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Construction industry in Germany are expected to grow by 8.8%.
お知らせ • May 09Erbud S.A., Annual General Meeting, May 22, 2023Erbud S.A., Annual General Meeting, May 22, 2023, at 15:30 Central European Standard Time.
Valuation Update With 7 Day Price Move • Apr 15Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €8.80, the stock trades at a trailing P/E ratio of 60.7x. Average forward P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 11% over the past year.
お知らせ • Jan 12+ 3 more updatesErbud S.A. to Report First Half, 2023 Results on Sep 06, 2023Erbud S.A. announced that they will report first half, 2023 results on Sep 06, 2023
Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to €6.64, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 10x in the Construction industry in Germany. Total loss to shareholders of 50% over the past year.
Reported Earnings • Nov 09Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: zł1.01b (up 14% from 3Q 2021). Net income: zł3.33m (up zł27.2m from 3Q 2021). Profit margin: 0.3% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue.
Reported Earnings • May 12First quarter 2022 earnings releasedFirst quarter 2022 results: Revenue: zł763.9m (up 42% from 1Q 2021). Net income: zł179.0k (up zł7.61m from 1Q 2021). Profit margin: 0% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue.
お知らせ • Apr 26Erbud S.A., Annual General Meeting, May 20, 2022Erbud S.A., Annual General Meeting, May 20, 2022, at 13:00 Central European Standard Time.
Reported Earnings • Apr 10Full year 2021 earnings releasedFull year 2021 results: Revenue: zł3.10b (up 39% from FY 2020). Net income: zł8.79m (down 81% from FY 2020). Profit margin: 0.3% (down from 2.1% in FY 2020). The decrease in margin was driven by higher expenses.
Reported Earnings • Nov 10Third quarter 2021 earnings releasedThe company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: zł881.0m (up 69% from 3Q 2020). Net loss: zł23.9m (down 207% from profit in 3Q 2020).
Reported Earnings • Sep 04Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł754.1m (up 17% from 2Q 2020). Net income: zł21.4m (up 83% from 2Q 2020). Profit margin: 2.8% (up from 1.8% in 2Q 2020). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Jul 06Investor sentiment improved over the past weekAfter last week's 16% share price gain to zł21.30, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 15x in the Construction industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €26.12 per share.
Valuation Update With 7 Day Price Move • Jun 18Investor sentiment improved over the past weekAfter last week's 18% share price gain to zł17.00, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 15x in the Construction industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €21.23 per share.
お知らせ • Jun 03Erbud S.A. (WSE:ERB) acquired Bilfinger Rohrleitungsbau GmbH.Erbud S.A. (WSE:ERB) acquired Bilfinger Rohrleitungsbau GmbH from Bilfinger Berger Industrial Services GmbH on June 1, 2021. Bilfinger will operate under the name IKR in the Erbud Group. Bilfinger generated revenue of €39.3 million in 2020. Bern König will retain the position of president, Andreas Schmitz, president of the service company IVT Weiner + Reimann GmbH from Oberhausen, taken over by ERBUD in 2018, will join the management board. Erbud S.A. (WSE:ERB) completed the acquisition of Bilfinger Rohrleitungsbau GmbH from Bilfinger Berger Industrial Services GmbH on June 1, 2021. Manfred Steinborn, Fabian Kinalzik of RSM GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft acted as legal advisor and Nils Wördemann, Jörg Zerhusen of RWP Rechtsanwälte acted as legal advisors to Erbud S.A in the deal. Ulrich Schneider, Christoph Studinka, John Jürgens of Proventis Partners GmbH acted as financial advisors to Bilfinger SE. Benjamin Parameswaran, Christoph Dachner, Semin ODLA Piper acted as legal advisor for Bilfinger Berger Industrial. Clairfield International LLC acted as financial advisor to Erbud S.A.
Reported Earnings • May 15First quarter 2021 earnings released: EPS zł1.51 (vs zł0.041 loss in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: zł536.7m (up 22% from 1Q 2020). Net income: zł19.3m (up zł19.8m from 1Q 2020). Profit margin: 3.6% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue.
Reported Earnings • Apr 10Full year 2020 earnings released: EPS zł3.65 (vs zł2.63 in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: zł2.23b (down 3.7% from FY 2019). Net income: zł46.7m (up 39% from FY 2019). Profit margin: 2.1% (up from 1.5% in FY 2019). The increase in margin was driven by lower expenses.