お知らせ • Mar 20
B&C Speakers S.p.A. announces Annual dividend, payable on May 06, 2026 B&C Speakers S.p.A. announced Annual dividend of EUR 0.7000 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026. お知らせ • Mar 21
B&C Speakers S.p.A. announces Annual dividend, payable on May 07, 2025 B&C Speakers S.p.A. announced Annual dividend of EUR 1.0000 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: €0.37 (vs €0.32 in 3Q 2023) Third quarter 2024 results: EPS: €0.37 (up from €0.32 in 3Q 2023). Revenue: €25.4m (up 12% from 3Q 2023). Net income: €4.06m (up 14% from 3Q 2023). Profit margin: 16% (in line with 3Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 15
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €16.00. The fair value is estimated to be €20.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has grown by 43%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 1.7% per annum over the same time period. Reported Earnings • Sep 11
Second quarter 2024 earnings released: EPS: €0.77 (vs €0.38 in 2Q 2023) Second quarter 2024 results: EPS: €0.77 (up from €0.38 in 2Q 2023). Revenue: €27.4m (up 13% from 2Q 2023). Net income: €8.47m (up 109% from 2Q 2023). Profit margin: 31% (up from 17% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Jul 12
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Valerie Sun was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: €0.30 (vs €0.37 in 1Q 2023) First quarter 2024 results: EPS: €0.30 (down from €0.37 in 1Q 2023). Revenue: €23.9m (down 1.5% from 1Q 2023). Net income: €3.26m (down 20% from 1Q 2023). Profit margin: 14% (down from 17% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 24
Dividend increased to €0.70 Dividend of €0.70 is 17% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 4.0%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 9.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 35% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: €1.28 (vs €1.13 in FY 2022) Full year 2023 results: EPS: €1.28 (up from €1.13 in FY 2022). Revenue: €94.0m (up 14% from FY 2022). Net income: €14.0m (up 14% from FY 2022). Profit margin: 15% (in line with FY 2022). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: €0.32 (vs €0.44 in 3Q 2022) Third quarter 2023 results: EPS: €0.32. Revenue: €22.7m (up 9.6% from 3Q 2022). Net income: €3.56m (flat on 3Q 2022). Profit margin: 16% (down from 17% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Sep 14
Second quarter 2023 earnings released: EPS: €0.38 (vs €0.20 in 2Q 2022) Second quarter 2023 results: EPS: €0.38 (up from €0.20 in 2Q 2022). Revenue: €24.3m (up 21% from 2Q 2022). Net income: €4.06m (up 83% from 2Q 2022). Profit margin: 17% (up from 11% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. お知らせ • Sep 10
B&C Speakers S.p.A. acquired Eminence Speaker LLC from Eminence Holdings, LLC for $3.56 million. B&C Speakers S.p.A. acquired Eminence Speaker LLC from Eminence Holdings, LLC for $3.56 million on September 8, 2023. In the year 2022, Eminence Speaker LLC recorded revenue of $11.9 million and EBITDA of $0.48. KT&Partners served as Financial Advisor, Nelson Mullins Riley, Scarborough LLP and GWA served as legal advisor and Deloitte provided the due diligence provider to B&C SpeakersB&C Speakers S.p.A. completed the acquisition of Eminence Speaker LLC from Eminence Holdings, LLC on September 8, 2023 Reported Earnings • May 18
First quarter 2023 earnings released: EPS: €0.37 (vs €0.20 in 1Q 2022) First quarter 2023 results: EPS: €0.37 (up from €0.20 in 1Q 2022). Revenue: €24.2m (up 41% from 1Q 2022). Net income: €4.05m (up 88% from 1Q 2022). Profit margin: 17% (up from 13% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 01
Upcoming dividend of €0.60 per share at 4.1% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.5%). Higher than average of industry peers (2.8%). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: €1.13 (vs €0.46 in FY 2021) Full year 2022 results: EPS: €1.13 (up from €0.46 in FY 2021). Revenue: €82.1m (up 82% from FY 2021). Net income: €12.2m (up 146% from FY 2021). Profit margin: 15% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Durables industry in Germany. 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 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €20.7m (up 70% from 3Q 2021). Net income: €3.53m (up 130% from 3Q 2021). Profit margin: 17% (up from 13% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Sep 11
Second quarter 2022 earnings released: EPS: €0.20 (vs €0.13 in 2Q 2021) Second quarter 2022 results: EPS: €0.20 (up from €0.13 in 2Q 2021). Revenue: €20.2m (up 77% from 2Q 2021). Net income: €2.22m (up 51% from 2Q 2021). Profit margin: 11% (down from 13% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • May 16
First quarter 2022 earnings released: EPS: €0.20 (vs €0.05 in 1Q 2021) First quarter 2022 results: EPS: €0.20 (up from €0.05 in 1Q 2021). Revenue: €17.2m (up 110% from 1Q 2021). Net income: €2.16m (up 312% from 1Q 2021). Profit margin: 13% (up from 6.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • May 02
Upcoming dividend of €0.32 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.1%). In line with average of industry peers (2.7%). Reported Earnings • Sep 15
Second quarter 2021 earnings released: EPS €0.13 (vs €0.046 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €11.4m (up 121% from 2Q 2020). Net income: €1.47m (up 155% from 2Q 2020). Profit margin: 13% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 26
Upcoming dividend of €0.26 per share Eligible shareholders must have bought the stock before 03 May 2021. Payment date: 05 May 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.0%). Reported Earnings • Mar 24
Full year 2020 earnings released: EPS €0.18 (vs €0.78 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €32.0m (down 43% from FY 2019). Net income: €1.92m (down 78% from FY 2019). Profit margin: 6.0% (down from 15% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 25
New 90-day high: €10.50 The company is up 13% from its price of €9.30 on 27 November 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 19% over the same period. Is New 90 Day High Low • Dec 11
New 90-day high: €10.30 The company is up 7.0% from its price of €9.62 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 15% over the same period. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS €0.064 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €7.90m (down 46% from 3Q 2019). Net income: €749.0k (down 71% from 3Q 2019). Profit margin: 9.5% (down from 18% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Is New 90 Day High Low • Nov 13
New 90-day high: €9.78 The company is up 9.0% from its price of €8.98 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Consumer Durables industry, which is also up 9.0% over the same period. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 18% share price gain to €9.14, the stock is trading at a trailing P/E ratio of 19.6x, up from the previous P/E ratio of 16.6x. This compares to an average P/E of 28x in the Consumer Durables industry in Germany. Total return to shareholders over the past three years is a loss of 16%. Is New 90 Day High Low • Oct 14
New 90-day low: €8.64 The company is down 22% from its price of €11.05 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 15% over the same period.