View Past PerformanceThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsRelatech バランスシートの健全性財務の健全性 基準チェック /36Relatechの総株主資本は€36.4M 、総負債は€28.8Mで、負債比率は79.1%となります。総資産と総負債はそれぞれ€99.1Mと€62.7Mです。 Relatechの EBIT は€5.1Mで、利息カバレッジ比率3.6です。現金および短期投資は€9.7Mです。主要情報79.11%負債資本比率€28.80m負債インタレスト・カバレッジ・レシオ3.6x現金€9.74mエクイティ€36.40m負債合計€62.70m総資産€99.10m財務の健全性に関する最新情報更新なしすべての更新を表示Recent updatesReported Earnings • Sep 30First half 2024 earnings releasedFirst half 2024 results: Revenue: €48.5m (down 3.4% from 1H 2023). Net income: €958.8k (down 67% from 1H 2023). Profit margin: 2.0% (down from 5.8% in 1H 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Germany.New Risk • Sep 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 4.2% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Profit margins are more than 30% lower than last year (1.7% net profit margin).Valuation Update With 7 Day Price Move • Jun 27Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €2.38, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 21x in the Software industry in Germany. Total loss to shareholders of 1.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.55 per share.お知らせ • Apr 19Relatech S.p.A. (BIT:RLT) completed the acquisition of Dialog Sistemi Srl from Francesco Fantuzzi and others.Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire Dialog Sistemi Srl from Francesco Fantuzzi and others on May 13, 2021. The acquisition will occur in two tranches of 60% and 40%. The operation, aimed at the acquisition of 100% of the capital to be carried out in two tranches, provides for a consideration of approximately €0.67 million for 60% of the capital. On May 21, 2021, Relatech announces the closing of the acquisition of 60% of the share capital of Dialog Sistemi S.r.l. This sum will be paid, upon the occurrence of specific conditions precedent, in cash for approximately €0.44 million and through an in-kind component through the sale of a total of no. 73,134 Relatech treasury shares conventionally valued at an amount of €3.20 each. Following the approval of the financial statements at December 31, 2022 of Dialog a further sum will be paid by Relatech in favor of the selling shareholders equal to a total of €0.25 million, increased by the yield of 3.75% on an annual basis, with effect from the closing of the first tranche and until completion of the closing relating to the second tranche. The remaining 40% will be acquired by 2024 for a consideration that will be determined by applying specific formulas based, inter alia, on the EBITDA and NFP values of Dialog. As of December 31, 2021 Dialog Sistemi Srl repoerted sales revenues of approximately €1.12 million with an EBITDA of approximately €0.15 million. As on May 21, 2021, Relatech S.p.A. (BIT:RLT) acquired 60% stake in Dialog Sistemi Srl from Francesco Fantuzzi and others. Luca Marco Bizzozero of Ballabio Studio and Giovanni Prearo of Prearo – Esposito acted as legal advisors to Dialog Sistemi s.r.l. Silvia Bordi and Alessandro Merenda of Gianni, Origoni, Grippo, Cappelli & Partners acted as legal advisors to Relatech S.p.A.Relatech S.p.A. (BIT:RLT) completed the acquisition of Dialog Sistemi Srl from Francesco Fantuzzi and others on April 18, 2024. This is to acquire remaining 40% of the share capital of Dialog Sistemi S.r.l The total consideration - determined by applying specific formulas based on Dialog Sistemi's EBITDA and NFP values as of December 31, 2023 is of €1.153 million fully paid today to the previous minority shareholders, Alessandro Greco, Adriano Giovanni Caffarri and Dialog S.r.l. Management Consulting & Business Management Systems. Finally, by virtue of the previously signed agreements, within 30 days from today's date Relatech will be required to pay in cash in favor of the first selling shareholders - as a deferred price for the purchase of 60% of Dialog Sistemi's share capital - the amount of €0.245 million Euros increased by the yield of 3.75% on an annual basis with effect from May 21, 2021 (i.e., the date of the "first closing") until the date of actual payment.Reported Earnings • Mar 31Full year 2023 earnings releasedFull year 2023 results: Revenue: €98.3m (up 46% from FY 2022). Net income: €3.56m (up 114% from FY 2022). Profit margin: 3.6% (up from 2.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Software industry in Germany.お知らせ • Feb 01+ 6 more updatesRelatech S.p.A. to Report First Half, 2024 Results on Jul 30, 2024Relatech S.p.A. announced that they will report first half, 2024 results on Jul 30, 2024New Risk • Aug 08New 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 6.8% 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 High level of non-cash earnings (56% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin). Shareholders have been diluted in the past year (14% increase in shares outstanding).お知らせ • Nov 25Relatech S.p.A. (BIT:RLT) completed the acquisition of 36.90% stake in Bto Spa.Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire 36.90% stake in Bto Spa for €6.83 million on October 28, 2022. Total consideration amount up to maximum €5.28 million and in addition to an earn-out component (linked to the achievement of a minimum turnover for the year 2022 of €20 million) for a total of €1.55 million. The consideration amount will be paid in part in cash at closing, for a portion equal to €1.23 million and the remaining amount by Relatech's own shares valued at the higher of (i) €5.00 and (ii) the weighted average closing price of Relatech's shares in the 90 days prior to the date of fulfillment of the relevant payment conditions. Relatech shares will be subject to a 24-month lock-up obligation following the actual transfer to the sellers. The payment of the Consideration with shares (including any portion of the earn-out) is conditional - and linearly subject to adjustment - to the definition of certain fiscal liabilities positions came up by the due diligence procedure carried out on the BTO Group. It is envisaged that Relatech, for the Consideration in Cash, will follow up the transaction through its own means in addition to a bank loan, on which its completion is also conditioned. In a related transaction Relatech S.p.A. (BIT:RLT) agreed for the subscription of a capital increase for a total of €6.17 million, attributing a 43.10% stake in Bto's capital. After the completion of both transaction it will own 80% stake in BTO. The Managers are expected to continue to carry out, within the same, a strategic-management function even after the closing of the transaction. The closing of the transaction is expected within the end of the fiscal year. Simmons & Simmons acted as legal advisor to Relatech S.p.A. (BIT:RLT). Relatech S.p.A. (BIT:RLT) completed the acquisition of 36.90% stake in Bto Spa on November 23, 2022.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. VP & Independent Director Gianni Papa was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Oct 30Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire 36.90% stake in Bto Spa for €6.83 million.Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire 36.90% stake in Bto Spa for €6.83 million on October 28, 2022. Total consideration amount up to maximum €5.28 million and in addition to an earn-out component (linked to the achievement of a minimum turnover for the year 2022 of €20 million) for a total of €1.55 million. The consideration amount will be paid in part in cash at closing, for a portion equal to €1.23 million and the remaining amount by Relatech's own shares valued at the higher of (i) €5.00 and (ii) the weighted average closing price of Relatech's shares in the 90 days prior to the date of fulfillment of the relevant payment conditions. Relatech shares will be subject to a 24-month lock-up obligation following the actual transfer to the sellers. The payment of the Consideration with shares (including any portion of the earn-out) is conditional - and linearly subject to adjustment - to the definition of certain fiscal liabilities positions came up by the due diligence procedure carried out on the BTO Group. It is envisaged that Relatech, for the Consideration in Cash, will follow up the transaction through its own means in addition to a bank loan, on which its completion is also conditioned. In a related transaction Relatech S.p.A. (BIT:RLT) agreed for the subscription of a capital increase for a total of €6.17 million, attributing a 43.10% stake in Bto's capital. After the completion of both transaction it will own 80% stake in BTO. The Managers are expected to continue to carry out, within the same, a strategic-management function even after the closing of the transaction. The closing of the transaction is expected within the end of the fiscal year. Simmons & Simmons acted as legal advisor to Relatech S.p.A. (BIT:RLT).お知らせ • Oct 12Relatech S.p.A. (BIT:RLT) completed the acquisition of 100% stake in Fair Winds Digital S.r.l.Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire Fair Winds Digital S.r.l. from Michael Prisco, Valerio Sinisi, Tommaso Gabriele Bruno and others for €0.31 million on May 23, 2022. The consideration will be paid entirely in cash, without prejudice to the application of specific price adjustment mechanisms. The agreements also provide for an earn-out mechanism based on the achievement of specific objectives of Medium and long-term EBITDA to be paid partly in cash and partly in Relatech shares valued at the unit value resulting from the most recent equity research at the date of transfer of the shares with a discount of 5%. As per the terms of the deal, the selling shareholders have made a commitment towards Relatech for a period of 5 years from the date of the transaction closing to not carry out activities in competition with those carried out by Fair Winds and not to solicit Fair Winds employees. The transaction will be funded by Relatech's own resources. Fair Winds Digital S.r.l. had revenues of €2.5 million and net income of €0.06 million in 2021. The agreements also provide for some shareholder provisions aimed at guaranteeing the appointment of Michael Prisco and Valerio Sinisi, respectively, as Chief Executive Officer and Managing Directors of Fair Winds at least until the approval of the financial statements of December 31, 2024. The deal is subject to the occurrence of usual conditions precedent for operations of this type including obtaining authorization from the Presidency of the Council of Ministers pursuant to Legislative Decree 21/2012 and obtaining the waivers by some contractual counterparties with reference to the transaction. Gianni & Origoni acted as legal advisor to Relatech. Relatech S.p.A. (BIT:RLT) acquired 75% stake in Fair Winds Digital S.r.l. on September 16, 2022. Relatech S.p.A. (BIT:RLT) completed the acquisition of 100% stake in Fair Winds Digital S.r.l. on October 11, 2022.Reported Earnings • Sep 29First half 2022 earnings released: EPS: €0.03 (vs €0.077 in 1H 2021)First half 2022 results: EPS: €0.03 (down from €0.077 in 1H 2021). Revenue: €28.4m (up 105% from 1H 2021). Net income: €807.3k (down 68% from 1H 2021). Profit margin: 2.8% (down from 18% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Software industry in Germany.お知らせ • Sep 15Relatech S.p.A. (BIT:RLT) completed the acquisition of additional 9.71% stake in Venticento Srl.Relatech S.p.A. (BIT:RLT) signed a contract for the acquisition of additional 9.71% stake in Venticento Srl for €0.35 million on May 31, 2022. Relatech will €0.35 million in partly in cash and partly in Relatech shares. The agreement also provides Relatech for the possibility to purchase the shares representing the remaining 49% stake in Venticento, upon the occurrence of certain conditions (Second Phase). In 2021, Venticento reported revenues of €10 million and net profit of €0.29 million. The transaction is subject to authorization from the Presidency of the Council of Ministers pursuant to Legislative Decree 21/12, and the waiver by the shareholders of any pre-emption rights due under the statute of Venticento. Gianni & Origoni Law Firm acted as legal advisor Relatech S.p.A. Thymos Business & Consulting S.R.L. acted as financial advisor to Relatech S.p.A. Relatech S.p.A. (BIT:RLT) completed the acquisition of additional 9.71% stake in Venticento Srl on September 13, 2022. Miccinesi acted as legal advisor to Relatech S.p.A.Valuation Update With 7 Day Price Move • Jul 28Investor sentiment improved over the past weekAfter last week's 18% share price gain to €2.27, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 23x in the Software industry in Germany. Total loss to shareholders of 25% over the past year.お知らせ • Jun 02Relatech S.p.A. (BIT:RLT) signed a contract for the acquisition of additional 9.71% stake in Venticento Srl for € 0.35 million.Relatech S.p.A. (BIT:RLT) signed a contract for the acquisition of additional 9.71% stake in Venticento Srl for € 0.35 million on May 31, 2022. Relatech will € 0.35 million in partly in cash and partly in Relatech shares. The agreement also provides Relatech for the possibility to purchase the shares representing the remaining 49% stake in Venticento, upon the occurrence of certain conditions (Second Phase). With reference to the Second Phase, the agreement provides for a mechanism of put and call options (the Options) on the shares representing the residual 49% of the capital to be exercised within a time window of 1 year starting from the date of approval by the Venticento shareholders' meeting of the financial statements for the year ended December 31, 2024 (Exercise Period). Venticento's Enrico Dellu will be appointed CEO of Venticento until the expiry of the Exercise Period. Venticento will be joining Relatech. The exercise price of the Options will be determined by applying a specific formula that takes into account the EBITDA and NFP values recorded by Venticento, subject to a minimum value of € 680,000, to be paid partly in cash and partly in Relatech shares. The transaction is subject to authorization from the Presidency of the Council of Ministers pursuant to Legislative Decree 21/12, and the waiver by the shareholders of any pre-emption rights due under the statute of Venticento. Gianni, Origoni, Grippo, Cappelli & Partners acting as legal advisor and Thymos Business & Consulting acting as financial advisor to Relatech.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Executive VP & Independent Director Gianni Papa was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Apr 18Full year 2021 earnings released: EPS: €0.10 (vs €0.083 in FY 2020)Full year 2021 results: EPS: €0.10 (up from €0.083 in FY 2020). Revenue: €32.9m (up 40% from FY 2020). Net income: €3.65m (up 43% from FY 2020). Profit margin: 11% (in line with FY 2020). Over the next year, revenue is forecast to grow 39%, compared to a 15% growth forecast for the industry in Germany.Valuation Update With 7 Day Price Move • Mar 05Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €2.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Software industry in Germany. Total loss to shareholders of 26% over the past year.お知らせ • Feb 20Relatech S.p.A. (BIT:RLT) acquired 81.66% stake in E.F.A. Automazione SpaRelatech S.p.A. (BIT:RLT) agreed to acquire 81.66% stake in E.F.A. Automazione Spa for €7.3 million on December 29, 2021. For the year ended December 31, 2020 revenues of €13.5 million, EBITDA of €1.5 million, Net Profit €1.0 million. Relatech S.p.A. (BIT:RLT) completed the acquisition of 81.66% stake in E.F.A. Automazione Spa on February 18, 2022.お知らせ • Jan 30+ 5 more updatesRelatech S.p.A. to Report Q1, 2022 Results on May 03, 2022Relatech S.p.A. announced that they will report Q1, 2022 results on May 03, 2022お知らせ • Dec 30Relatech S.p.A. (BIT:RLT) agreed to acquire 81.66% stake in E.F.A. Automazione Spa for €7.3 million.Relatech S.p.A. (BIT:RLT) agreed to acquire 81.66% stake in E.F.A. Automazione Spa for €7.3 million on December 29, 2021. For the year ended December 31, 2020 revenues of €13.5 million, EBITDA of €1.5 million, Net Profit €1.0 million.お知らせ • Nov 27Relatech S.p.A. (BIT:RLT) acquired remaining 46.5% stake in Xonne Srl for €0.31 million.Relatech S.p.A. (BIT:RLT) acquired remaining 46.5% stake in Xonne Srl for €0.31 million on November 26, 2021. The consideration was paid through the transfer of a total of 120,000 Relatech treasury shares. Relatech S.p.A. (BIT:RLT) completed the acquisition of remaining 46.5% stake in Xonne Srl on November 26, 2021.Reported Earnings • Sep 26First half 2021 earnings released: EPS €0.077 (vs €0.037 in 1H 2020)The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €13.9m (up 32% from 1H 2020). Net income: €2.48m (up 108% from 1H 2020). Profit margin: 18% (up from 11% in 1H 2020). The increase in margin was driven by higher revenue.お知らせ • Jul 02Relatech S.p.A. (BIT:RLT) acquired remaining 40% stake in Mediatech S.r.l. for approximately €0.29 million.Relatech S.p.A. (BIT:RLT) acquired remaining 40% stake in Mediatech S.r.l. for approximately €0.29 million on June 30, 2021. Relatech S.p.A. (BIT:RLT) completed the acquisition of remaining 40% stake in Mediatech S.r.l. on June 30, 2021.お知らせ • May 14Relatech signed binding agreement to acquire Gruppo Sigla Srl.Relatech signed binding agreement to acquire Gruppo Sigla Srl on May 12, 2021. The acquisition will occur in three tranches of 60%,20%,20%. The consideration for 60% tranche is €2.3 million and the remaining 20% tranches expected to close in 2023 and 2024.Reported Earnings • Mar 26Full year 2020 earnings releasedThe company reported a mediocre full year result with weaker profit margins, although earnings were flat and revenues improved. Full year 2020 results: Revenue: €24.0m (up 16% from FY 2019). Net income: €2.55m (flat on FY 2019). Profit margin: 11% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses.財務状況分析短期負債: 8EPの 短期資産 ( €49.0M ) が 短期負債 ( €33.2M ) を超えています。長期負債: 8EPの短期資産 ( €49.0M ) が 長期負債 ( €29.5M ) を上回っています。デット・ツー・エクイティの歴史と分析負債レベル: 8EPの 純負債対資本比率 ( 52.4% ) は 高い と見なされます。負債の削減: 8EPの負債対資本比率は、過去 5 年間で38.6%から79.1%に増加しました。債務返済能力: 8EPの 営業キャッシュフロー はマイナスであるため、負債は十分にカバーされていません。インタレストカバレッジ: 8EPの負債に対する 利息支払い は EBIT ( 3.6 x coverage) によって 十分にカバーされています。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YSoftware 業界の健全な企業。View Dividend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2024/12/12 23:34終値2024/12/09 00:00収益2024/06/30年間収益2023/12/31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Relatech S.p.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。2 アナリスト機関Federica FiorenzaKT & Partners SrlMaria Di GradoKT & Partners Srl
Reported Earnings • Sep 30First half 2024 earnings releasedFirst half 2024 results: Revenue: €48.5m (down 3.4% from 1H 2023). Net income: €958.8k (down 67% from 1H 2023). Profit margin: 2.0% (down from 5.8% in 1H 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Software industry in Germany.
New Risk • Sep 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 4.2% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Profit margins are more than 30% lower than last year (1.7% net profit margin).
Valuation Update With 7 Day Price Move • Jun 27Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €2.38, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 21x in the Software industry in Germany. Total loss to shareholders of 1.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.55 per share.
お知らせ • Apr 19Relatech S.p.A. (BIT:RLT) completed the acquisition of Dialog Sistemi Srl from Francesco Fantuzzi and others.Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire Dialog Sistemi Srl from Francesco Fantuzzi and others on May 13, 2021. The acquisition will occur in two tranches of 60% and 40%. The operation, aimed at the acquisition of 100% of the capital to be carried out in two tranches, provides for a consideration of approximately €0.67 million for 60% of the capital. On May 21, 2021, Relatech announces the closing of the acquisition of 60% of the share capital of Dialog Sistemi S.r.l. This sum will be paid, upon the occurrence of specific conditions precedent, in cash for approximately €0.44 million and through an in-kind component through the sale of a total of no. 73,134 Relatech treasury shares conventionally valued at an amount of €3.20 each. Following the approval of the financial statements at December 31, 2022 of Dialog a further sum will be paid by Relatech in favor of the selling shareholders equal to a total of €0.25 million, increased by the yield of 3.75% on an annual basis, with effect from the closing of the first tranche and until completion of the closing relating to the second tranche. The remaining 40% will be acquired by 2024 for a consideration that will be determined by applying specific formulas based, inter alia, on the EBITDA and NFP values of Dialog. As of December 31, 2021 Dialog Sistemi Srl repoerted sales revenues of approximately €1.12 million with an EBITDA of approximately €0.15 million. As on May 21, 2021, Relatech S.p.A. (BIT:RLT) acquired 60% stake in Dialog Sistemi Srl from Francesco Fantuzzi and others. Luca Marco Bizzozero of Ballabio Studio and Giovanni Prearo of Prearo – Esposito acted as legal advisors to Dialog Sistemi s.r.l. Silvia Bordi and Alessandro Merenda of Gianni, Origoni, Grippo, Cappelli & Partners acted as legal advisors to Relatech S.p.A.Relatech S.p.A. (BIT:RLT) completed the acquisition of Dialog Sistemi Srl from Francesco Fantuzzi and others on April 18, 2024. This is to acquire remaining 40% of the share capital of Dialog Sistemi S.r.l The total consideration - determined by applying specific formulas based on Dialog Sistemi's EBITDA and NFP values as of December 31, 2023 is of €1.153 million fully paid today to the previous minority shareholders, Alessandro Greco, Adriano Giovanni Caffarri and Dialog S.r.l. Management Consulting & Business Management Systems. Finally, by virtue of the previously signed agreements, within 30 days from today's date Relatech will be required to pay in cash in favor of the first selling shareholders - as a deferred price for the purchase of 60% of Dialog Sistemi's share capital - the amount of €0.245 million Euros increased by the yield of 3.75% on an annual basis with effect from May 21, 2021 (i.e., the date of the "first closing") until the date of actual payment.
Reported Earnings • Mar 31Full year 2023 earnings releasedFull year 2023 results: Revenue: €98.3m (up 46% from FY 2022). Net income: €3.56m (up 114% from FY 2022). Profit margin: 3.6% (up from 2.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Software industry in Germany.
お知らせ • Feb 01+ 6 more updatesRelatech S.p.A. to Report First Half, 2024 Results on Jul 30, 2024Relatech S.p.A. announced that they will report first half, 2024 results on Jul 30, 2024
New Risk • Aug 08New 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 6.8% 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 High level of non-cash earnings (56% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin). Shareholders have been diluted in the past year (14% increase in shares outstanding).
お知らせ • Nov 25Relatech S.p.A. (BIT:RLT) completed the acquisition of 36.90% stake in Bto Spa.Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire 36.90% stake in Bto Spa for €6.83 million on October 28, 2022. Total consideration amount up to maximum €5.28 million and in addition to an earn-out component (linked to the achievement of a minimum turnover for the year 2022 of €20 million) for a total of €1.55 million. The consideration amount will be paid in part in cash at closing, for a portion equal to €1.23 million and the remaining amount by Relatech's own shares valued at the higher of (i) €5.00 and (ii) the weighted average closing price of Relatech's shares in the 90 days prior to the date of fulfillment of the relevant payment conditions. Relatech shares will be subject to a 24-month lock-up obligation following the actual transfer to the sellers. The payment of the Consideration with shares (including any portion of the earn-out) is conditional - and linearly subject to adjustment - to the definition of certain fiscal liabilities positions came up by the due diligence procedure carried out on the BTO Group. It is envisaged that Relatech, for the Consideration in Cash, will follow up the transaction through its own means in addition to a bank loan, on which its completion is also conditioned. In a related transaction Relatech S.p.A. (BIT:RLT) agreed for the subscription of a capital increase for a total of €6.17 million, attributing a 43.10% stake in Bto's capital. After the completion of both transaction it will own 80% stake in BTO. The Managers are expected to continue to carry out, within the same, a strategic-management function even after the closing of the transaction. The closing of the transaction is expected within the end of the fiscal year. Simmons & Simmons acted as legal advisor to Relatech S.p.A. (BIT:RLT). Relatech S.p.A. (BIT:RLT) completed the acquisition of 36.90% stake in Bto Spa on November 23, 2022.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. VP & Independent Director Gianni Papa was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Oct 30Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire 36.90% stake in Bto Spa for €6.83 million.Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire 36.90% stake in Bto Spa for €6.83 million on October 28, 2022. Total consideration amount up to maximum €5.28 million and in addition to an earn-out component (linked to the achievement of a minimum turnover for the year 2022 of €20 million) for a total of €1.55 million. The consideration amount will be paid in part in cash at closing, for a portion equal to €1.23 million and the remaining amount by Relatech's own shares valued at the higher of (i) €5.00 and (ii) the weighted average closing price of Relatech's shares in the 90 days prior to the date of fulfillment of the relevant payment conditions. Relatech shares will be subject to a 24-month lock-up obligation following the actual transfer to the sellers. The payment of the Consideration with shares (including any portion of the earn-out) is conditional - and linearly subject to adjustment - to the definition of certain fiscal liabilities positions came up by the due diligence procedure carried out on the BTO Group. It is envisaged that Relatech, for the Consideration in Cash, will follow up the transaction through its own means in addition to a bank loan, on which its completion is also conditioned. In a related transaction Relatech S.p.A. (BIT:RLT) agreed for the subscription of a capital increase for a total of €6.17 million, attributing a 43.10% stake in Bto's capital. After the completion of both transaction it will own 80% stake in BTO. The Managers are expected to continue to carry out, within the same, a strategic-management function even after the closing of the transaction. The closing of the transaction is expected within the end of the fiscal year. Simmons & Simmons acted as legal advisor to Relatech S.p.A. (BIT:RLT).
お知らせ • Oct 12Relatech S.p.A. (BIT:RLT) completed the acquisition of 100% stake in Fair Winds Digital S.r.l.Relatech S.p.A. (BIT:RLT) signed a binding agreement to acquire Fair Winds Digital S.r.l. from Michael Prisco, Valerio Sinisi, Tommaso Gabriele Bruno and others for €0.31 million on May 23, 2022. The consideration will be paid entirely in cash, without prejudice to the application of specific price adjustment mechanisms. The agreements also provide for an earn-out mechanism based on the achievement of specific objectives of Medium and long-term EBITDA to be paid partly in cash and partly in Relatech shares valued at the unit value resulting from the most recent equity research at the date of transfer of the shares with a discount of 5%. As per the terms of the deal, the selling shareholders have made a commitment towards Relatech for a period of 5 years from the date of the transaction closing to not carry out activities in competition with those carried out by Fair Winds and not to solicit Fair Winds employees. The transaction will be funded by Relatech's own resources. Fair Winds Digital S.r.l. had revenues of €2.5 million and net income of €0.06 million in 2021. The agreements also provide for some shareholder provisions aimed at guaranteeing the appointment of Michael Prisco and Valerio Sinisi, respectively, as Chief Executive Officer and Managing Directors of Fair Winds at least until the approval of the financial statements of December 31, 2024. The deal is subject to the occurrence of usual conditions precedent for operations of this type including obtaining authorization from the Presidency of the Council of Ministers pursuant to Legislative Decree 21/2012 and obtaining the waivers by some contractual counterparties with reference to the transaction. Gianni & Origoni acted as legal advisor to Relatech. Relatech S.p.A. (BIT:RLT) acquired 75% stake in Fair Winds Digital S.r.l. on September 16, 2022. Relatech S.p.A. (BIT:RLT) completed the acquisition of 100% stake in Fair Winds Digital S.r.l. on October 11, 2022.
Reported Earnings • Sep 29First half 2022 earnings released: EPS: €0.03 (vs €0.077 in 1H 2021)First half 2022 results: EPS: €0.03 (down from €0.077 in 1H 2021). Revenue: €28.4m (up 105% from 1H 2021). Net income: €807.3k (down 68% from 1H 2021). Profit margin: 2.8% (down from 18% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Software industry in Germany.
お知らせ • Sep 15Relatech S.p.A. (BIT:RLT) completed the acquisition of additional 9.71% stake in Venticento Srl.Relatech S.p.A. (BIT:RLT) signed a contract for the acquisition of additional 9.71% stake in Venticento Srl for €0.35 million on May 31, 2022. Relatech will €0.35 million in partly in cash and partly in Relatech shares. The agreement also provides Relatech for the possibility to purchase the shares representing the remaining 49% stake in Venticento, upon the occurrence of certain conditions (Second Phase). In 2021, Venticento reported revenues of €10 million and net profit of €0.29 million. The transaction is subject to authorization from the Presidency of the Council of Ministers pursuant to Legislative Decree 21/12, and the waiver by the shareholders of any pre-emption rights due under the statute of Venticento. Gianni & Origoni Law Firm acted as legal advisor Relatech S.p.A. Thymos Business & Consulting S.R.L. acted as financial advisor to Relatech S.p.A. Relatech S.p.A. (BIT:RLT) completed the acquisition of additional 9.71% stake in Venticento Srl on September 13, 2022. Miccinesi acted as legal advisor to Relatech S.p.A.
Valuation Update With 7 Day Price Move • Jul 28Investor sentiment improved over the past weekAfter last week's 18% share price gain to €2.27, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 23x in the Software industry in Germany. Total loss to shareholders of 25% over the past year.
お知らせ • Jun 02Relatech S.p.A. (BIT:RLT) signed a contract for the acquisition of additional 9.71% stake in Venticento Srl for € 0.35 million.Relatech S.p.A. (BIT:RLT) signed a contract for the acquisition of additional 9.71% stake in Venticento Srl for € 0.35 million on May 31, 2022. Relatech will € 0.35 million in partly in cash and partly in Relatech shares. The agreement also provides Relatech for the possibility to purchase the shares representing the remaining 49% stake in Venticento, upon the occurrence of certain conditions (Second Phase). With reference to the Second Phase, the agreement provides for a mechanism of put and call options (the Options) on the shares representing the residual 49% of the capital to be exercised within a time window of 1 year starting from the date of approval by the Venticento shareholders' meeting of the financial statements for the year ended December 31, 2024 (Exercise Period). Venticento's Enrico Dellu will be appointed CEO of Venticento until the expiry of the Exercise Period. Venticento will be joining Relatech. The exercise price of the Options will be determined by applying a specific formula that takes into account the EBITDA and NFP values recorded by Venticento, subject to a minimum value of € 680,000, to be paid partly in cash and partly in Relatech shares. The transaction is subject to authorization from the Presidency of the Council of Ministers pursuant to Legislative Decree 21/12, and the waiver by the shareholders of any pre-emption rights due under the statute of Venticento. Gianni, Origoni, Grippo, Cappelli & Partners acting as legal advisor and Thymos Business & Consulting acting as financial advisor to Relatech.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Executive VP & Independent Director Gianni Papa was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Apr 18Full year 2021 earnings released: EPS: €0.10 (vs €0.083 in FY 2020)Full year 2021 results: EPS: €0.10 (up from €0.083 in FY 2020). Revenue: €32.9m (up 40% from FY 2020). Net income: €3.65m (up 43% from FY 2020). Profit margin: 11% (in line with FY 2020). Over the next year, revenue is forecast to grow 39%, compared to a 15% growth forecast for the industry in Germany.
Valuation Update With 7 Day Price Move • Mar 05Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €2.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Software industry in Germany. Total loss to shareholders of 26% over the past year.
お知らせ • Feb 20Relatech S.p.A. (BIT:RLT) acquired 81.66% stake in E.F.A. Automazione SpaRelatech S.p.A. (BIT:RLT) agreed to acquire 81.66% stake in E.F.A. Automazione Spa for €7.3 million on December 29, 2021. For the year ended December 31, 2020 revenues of €13.5 million, EBITDA of €1.5 million, Net Profit €1.0 million. Relatech S.p.A. (BIT:RLT) completed the acquisition of 81.66% stake in E.F.A. Automazione Spa on February 18, 2022.
お知らせ • Jan 30+ 5 more updatesRelatech S.p.A. to Report Q1, 2022 Results on May 03, 2022Relatech S.p.A. announced that they will report Q1, 2022 results on May 03, 2022
お知らせ • Dec 30Relatech S.p.A. (BIT:RLT) agreed to acquire 81.66% stake in E.F.A. Automazione Spa for €7.3 million.Relatech S.p.A. (BIT:RLT) agreed to acquire 81.66% stake in E.F.A. Automazione Spa for €7.3 million on December 29, 2021. For the year ended December 31, 2020 revenues of €13.5 million, EBITDA of €1.5 million, Net Profit €1.0 million.
お知らせ • Nov 27Relatech S.p.A. (BIT:RLT) acquired remaining 46.5% stake in Xonne Srl for €0.31 million.Relatech S.p.A. (BIT:RLT) acquired remaining 46.5% stake in Xonne Srl for €0.31 million on November 26, 2021. The consideration was paid through the transfer of a total of 120,000 Relatech treasury shares. Relatech S.p.A. (BIT:RLT) completed the acquisition of remaining 46.5% stake in Xonne Srl on November 26, 2021.
Reported Earnings • Sep 26First half 2021 earnings released: EPS €0.077 (vs €0.037 in 1H 2020)The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €13.9m (up 32% from 1H 2020). Net income: €2.48m (up 108% from 1H 2020). Profit margin: 18% (up from 11% in 1H 2020). The increase in margin was driven by higher revenue.
お知らせ • Jul 02Relatech S.p.A. (BIT:RLT) acquired remaining 40% stake in Mediatech S.r.l. for approximately €0.29 million.Relatech S.p.A. (BIT:RLT) acquired remaining 40% stake in Mediatech S.r.l. for approximately €0.29 million on June 30, 2021. Relatech S.p.A. (BIT:RLT) completed the acquisition of remaining 40% stake in Mediatech S.r.l. on June 30, 2021.
お知らせ • May 14Relatech signed binding agreement to acquire Gruppo Sigla Srl.Relatech signed binding agreement to acquire Gruppo Sigla Srl on May 12, 2021. The acquisition will occur in three tranches of 60%,20%,20%. The consideration for 60% tranche is €2.3 million and the remaining 20% tranches expected to close in 2023 and 2024.
Reported Earnings • Mar 26Full year 2020 earnings releasedThe company reported a mediocre full year result with weaker profit margins, although earnings were flat and revenues improved. Full year 2020 results: Revenue: €24.0m (up 16% from FY 2019). Net income: €2.55m (flat on FY 2019). Profit margin: 11% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses.