View ValuationAudax Renovables 将来の成長Future 基準チェック /36Audax Renovables利益と収益がそれぞれ年間28%と3.2%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に18.4% 28.1%なると予測されています。主要情報28.0%収益成長率28.09%EPS成長率Renewable Energy 収益成長6.8%収益成長率3.2%将来の株主資本利益率18.40%アナリストカバレッジLow最終更新日18 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 updatesBoard Change • May 21Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Josep Maria Torres was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.お知らせ • May 08Audax Renovables, S.A., Annual General Meeting, Jun 11, 2026Audax Renovables, S.A., Annual General Meeting, Jun 11, 2026. Location: hotel marina badalona, avinguda d`eduard maristany 227, badalona, barcelona., Spainお知らせ • Feb 19Audax Renovables, S.A. to Report Fiscal Year 2025 Results on Feb 26, 2026Audax Renovables, S.A. announced that they will report fiscal year 2025 results Pre-Market on Feb 26, 2026お知らせ • May 15Audax Renovables, S.A., Annual General Meeting, Jun 19, 2025Audax Renovables, S.A., Annual General Meeting, Jun 19, 2025. Location: hotel marina badalona, avinguda deduard maristany 227, badalona, barcelona SpainReported Earnings • Nov 14Third quarter 2024 earnings released: EPS: €0.026 (vs €0.033 in 3Q 2023)Third quarter 2024 results: EPS: €0.026 (down from €0.033 in 3Q 2023). Revenue: €506.1m (down 11% from 3Q 2023). Net income: €11.8m (down 20% from 3Q 2023). Profit margin: 2.3% (down from 2.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • Nov 07Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.4% to €1.65. The fair value is estimated to be €2.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 87%. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 11% in the next 2 years.New Risk • Oct 07New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Shareholders have been diluted in the past year (2.7% increase in shares outstanding).Reported Earnings • Oct 02Second quarter 2024 earnings released: EPS: €0.039 (vs €0.014 in 2Q 2023)Second quarter 2024 results: EPS: €0.039 (up from €0.014 in 2Q 2023). Revenue: €402.6m (down 22% from 2Q 2023). Net income: €17.8m (up 181% from 2Q 2023). Profit margin: 4.4% (up from 1.2% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • Jul 04Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 11% to €1.87. The fair value is estimated to be €1.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 82%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.New Risk • Jun 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (159% net debt to equity). Shareholders have been diluted in the past year (3.0% increase in shares outstanding).Reported Earnings • May 19First quarter 2024 earnings released: EPS: €0.036 (vs €0.005 in 1Q 2023)First quarter 2024 results: EPS: €0.036 (up from €0.005 in 1Q 2023). Revenue: €482.1m (down 31% from 1Q 2023). Net income: €15.9m (up €13.9m from 1Q 2023). Profit margin: 3.3% (up from 0.3% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.お知らせ • May 17Audax Renovables, S.A., Annual General Meeting, Jun 18, 2024Audax Renovables, S.A., Annual General Meeting, Jun 18, 2024. Location: hotel marina badalona, avinguda d`eduard maristany 227, badalona SpainValuation Update With 7 Day Price Move • Mar 28Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €1.54, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 19x in the Renewable Energy industry in Germany. Total loss to shareholders of 24% over the past three years.Reported Earnings • Oct 01Second quarter 2023 earnings released: EPS: €0.014 (vs €0.002 loss in 2Q 2022)Second quarter 2023 results: EPS: €0.014 (up from €0.002 loss in 2Q 2022). Revenue: €519.2m (down 12% from 2Q 2022). Net income: €6.35m (up €7.16m from 2Q 2022). Profit margin: 1.2% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Reported Earnings • Mar 01Full year 2022 earnings released: EPS: €0.01 (vs €0.006 in FY 2021)Full year 2022 results: EPS: €0.01 (up from €0.006 in FY 2021). Revenue: €2.63b (up 56% from FY 2021). Net income: €3.54m (up 25% from FY 2021). Profit margin: 0.1% (down from 0.2% in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 8.4% decline forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Jan 10Investor sentiment improved over the past weekAfter last week's 37% share price gain to €1.15, the stock trades at a forward P/E ratio of 67x. Average forward P/E is 21x in the Renewable Energy industry in Europe. Total loss to shareholders of 54% over the past three years.お知らせ • Dec 29Audax Renovables, S.A. (BME:ADX) announces an Equity Buyback for 800,000 shares, representing 0.18% for €1 million.Audax Renovables, S.A. (BME:ADX) announces a share repurchase program. Under the program, the company will repurchase up to 800,000 shares for €1 million. The company will not buy shares at a price higher than the highest of the last independent transaction or the highest independent offer at that moment in the trading venues where the purchase is made. The program will be valid for 11 months.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. 5 non-independent directors. Independent Director Josep Maria Torres was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 03Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €586.6m (up 68% from 2Q 2021). Net loss: €804.0k (loss narrowed 84% from 2Q 2021). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.お知らせ • Sep 14+ 2 more updatesAudax Renovables, S.A. to Report Q3, 2022 Results on Nov 15, 2022Audax Renovables, S.A. announced that they will report Q3, 2022 results on Nov 15, 2022Board 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. 5 non-independent directors. Independent Director Josep Maria Torres was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Feb 28Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: €0.01 (down from €0.06 in FY 2020). Revenue: €1.68b (up 74% from FY 2020). Net income: €2.84m (down 89% from FY 2020). Profit margin: 0.2% (down from 2.7% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to stay flat compared to a 44% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Feb 23Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €1.02, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 24x in the Renewable Energy industry in Europe. Total loss to shareholders of 58% over the past three years.Reported Earnings • Oct 01Second quarter 2021 earnings releasedThe company reported a decent second quarter result with improved revenues, although earnings and control over costs were weaker. Second quarter 2021 results: Revenue: €348.4m (up 106% from 2Q 2020). Net loss: €5.11m (down 293% from profit in 2Q 2020).Reported Earnings • Mar 04Full year 2020 earnings released: EPS €0.06 (vs €0.058 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: €967.4m (down 7.1% from FY 2019). Net income: €26.4m (up 3.8% from FY 2019). Profit margin: 2.7% (up from 2.4% in FY 2019). The increase in margin was driven by lower expenses.Analyst Estimate Surprise Post Earnings • Mar 04Revenue beats expectationsRevenue exceeded analyst estimates by 12%. Over the next year, revenue is forecast to grow 15%, compared to a 28% growth forecast for the Renewable Energy industry in Germany.お知らせ • Jan 15Audax Renovables, S.A. (BME:ADX) acquired Two 5-MWp solar photovoltaic projects in Toledo from Energy Pool.Audax Renovables, S.A. (BME:ADX) acquired Two 5-MWp solar photovoltaic projects in Toledo from Energy Pool on January 14, 2021. Audax Renovables, S.A. funded the transaction in part using proceeds from recent green bond issues and will cover the rest with own resources. Audax Renovables, S.A. (BME:ADX) completed the acquisition of Two 5-MWp solar photovoltaic projects in Toledo from Energy Pool on January 14, 2021.お知らせ • Jan 12Global Portfolio Investments, S. L. managed by Indumenta Pueri, S.L. acquired a 5.8% stake in Audax Renovables, S.A. (BME:ADX) from Electrica Nuriel S.L. for €56.2 million.Global Portfolio Investments, S. L. managed by Indumenta Pueri, S.L. acquired a 5.8% stake in Audax Renovables, S.A. (BME:ADX) from Electrica Nuriel S.L. for €56.2 million on January 11, 2021. Under the terms of the transaction, Global Portfolio Investments will acquire the shares at €2.2 per share. Upon completion, Electrica Nuriel will now hold 70% stake in Audax. Global Portfolio Investments, S. L. managed by Indumenta Pueri, S.L. completed the acquisition of a 5.8% stake in Audax Renovables, S.A. (BME:ADX) from Electrica Nuriel S.L. on January 11, 2021.Valuation Update With 7 Day Price Move • Jan 08Investor sentiment improved over the past weekAfter last week's 19% share price gain to €2.29, the stock is trading at a trailing P/E ratio of 41.3x, up from the previous P/E ratio of 34.6x. This compares to an average P/E of 33x in the Renewable Energy industry in Germany. Total return to shareholders over the past year is a loss of 5.2%.Is New 90 Day High Low • Jan 08New 90-day high: €2.29The company is up 12% from its price of €2.05 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 10.0% over the same period.Valuation Update With 7 Day Price Move • Dec 30Investor sentiment improved over the past weekAfter last week's 15% share price gain to €1.97, the stock is trading at a trailing P/E ratio of 35.6x, up from the previous P/E ratio of 31x. This compares to an average P/E of 32x in the Renewable Energy industry in Germany. Total return to shareholders over the past year is a loss of 1.1%.Is New 90 Day High Low • Dec 03New 90-day low: €1.63The company is down 1.0% from its price of €1.64 on 04 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.お知らせ • Nov 24Audax Renovables, S.A. announced that it has received €125 million in fundingOn November 23, 2020, Audax Renovables, S.A. (BME:ADX) closed the transaction. The transaction was 2.4 times over demanded.Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS €0.014The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €222.3m (down 8.1% from 3Q 2019). Net income: €6.21m (up 45% from 3Q 2019). Profit margin: 2.8% (up from 1.8% in 3Q 2019). The increase in margin was driven by lower expenses.Valuation Update With 7 Day Price Move • Oct 14Market bids up stock over the past weekAfter last week's 17% share price gain to €2.18, the stock is trading at a trailing P/E ratio of 42.3x, up from the previous P/E ratio of 36x. This compares to an average P/E of 24x in the Renewable Energy industry in Germany. Total returns to shareholders over the past year are 29%.Is New 90 Day High Low • Oct 08New 90-day high: €2.06The company is up 21% from its price of €1.70 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is flat over the same period.お知らせ • Oct 05Audax Renovables, S.A. to Report Q1, 2021 Results on May 15, 2021Audax Renovables, S.A. announced that they will report Q1, 2021 results on May 15, 2021お知らせ • Sep 29+ 1 more updateAudax Renovables, S.A. (BME:ADX) completed the acquisition of E.ON Energiakereskedelmi Korlátolt Felelosségu Társaság from E.ON Hungária Zrt.Audax Renovables, S.A. (BME:ADX) signed a contract to acquire E.ON Energiakereskedelmi Korlátolt Felelosségu Társaság from E.ON Hungária Zrt. on July 8, 2020. The transaction is subject to certain conditions precedent and has yet to obtain the necessary approval from appropriate European and Hungarian regulatory bodies. It is expected to be completed between the third and the fourth quarter of 2020. BNP Paribas SA acted as financial advisor to E.ON Hungária Zrt. CMS Germany acted as legal advisor to E.ON Hungária Zrt. Audax Renovables, S.A. (BME:ADX) completed the acquisition of E.ON Energiakereskedelmi Korlátolt Felelosségu Társaság from E.ON Hungária Zrt. on September 28, 2020. All the conditions have been satisfied and approval has been received from European and Hungarian regulatory bodies.Reported Earnings • Sep 26First half earnings releasedOver the last 12 months the company has reported total profits of €22.7m, up 31% from the prior year. Total revenue was €919.2m over the last 12 months, down 15% from the prior year.お知らせ • Sep 24Audax Renovables, S.A. (BME:ADX) acquired a 75% stake in PH Simples.Audax Renovables, S.A. (BME:ADX) acquired a 75% stake in PH Simples effective September 1, 2020.業績と収益の成長予測DB:54F - アナリストの将来予測と過去の財務データ ( )EUR 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12/31/20282,0586112114312/31/20271,9915515109312/31/20261,91049-1085312/31/20251,87520-1251N/A9/30/20251,96636-472N/A6/30/20252,04346-1648N/A3/31/20252,070572778N/A12/31/20241,982611874N/A9/30/20241,89751N/AN/AN/A6/30/20241,958542975N/A3/31/20242,07543N/AN/AN/A12/31/20232,29029109141N/A9/30/20232,37928N/AN/AN/A6/30/20232,52012148191N/A3/31/20232,5875N/AN/AN/A12/31/20222,6264106151N/A9/30/20222,5753N/AN/AN/A6/30/20222,3112-61-20N/A3/31/20222,0792N/AN/AN/A12/31/20211,679-2-112-74N/A9/30/20211,48116N/AN/AN/A6/30/20211,25319-67-40N/A3/31/20211,07426N/AN/AN/A12/31/2020967265976N/A9/30/202090025N/AN/AN/A6/30/202091923117133N/A3/31/202098725N/AN/AN/A12/31/20191,041252356N/A9/30/20191,04218N/AN/AN/A6/30/20191,08217N/A-7N/A3/31/20191,08612N/AN/AN/A12/31/20189848N/A56N/A12/31/20176718N/A-85N/A12/31/201636012N/A19N/A12/31/201548812N/A5N/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: 54Fの予測収益成長率 (年間28% ) は 貯蓄率 ( 1.9% ) を上回っています。収益対市場: 54Fの収益 ( 28% ) はGerman市場 ( 17.1% ) よりも速いペースで成長すると予測されています。高成長収益: 54Fの収益は今後 3 年間で 大幅に 増加すると予想されています。収益対市場: 54Fの収益 ( 3.2% ) German市場 ( 6.8% ) よりも低い成長が予測されています。高い収益成長: 54Fの収益 ( 3.2% ) 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: 54Fの 自己資本利益率 は、3年後には低くなると予測されています ( 18.4 %)。成長企業の発掘7D1Y7D1Y7D1YUtilities 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2026/05/22 10:22終値2026/05/22 00:00収益2025/12/31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Audax Renovables, S.A. 3 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。5 アナリスト機関Francisco RuizBNP ParibasVictor Peiro PérezGVC Gaesco ValoresAlberto Espelosín González-SimarroJB Capital Markets2 その他のアナリストを表示
Board Change • May 21Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Josep Maria Torres was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
お知らせ • May 08Audax Renovables, S.A., Annual General Meeting, Jun 11, 2026Audax Renovables, S.A., Annual General Meeting, Jun 11, 2026. Location: hotel marina badalona, avinguda d`eduard maristany 227, badalona, barcelona., Spain
お知らせ • Feb 19Audax Renovables, S.A. to Report Fiscal Year 2025 Results on Feb 26, 2026Audax Renovables, S.A. announced that they will report fiscal year 2025 results Pre-Market on Feb 26, 2026
お知らせ • May 15Audax Renovables, S.A., Annual General Meeting, Jun 19, 2025Audax Renovables, S.A., Annual General Meeting, Jun 19, 2025. Location: hotel marina badalona, avinguda deduard maristany 227, badalona, barcelona Spain
Reported Earnings • Nov 14Third quarter 2024 earnings released: EPS: €0.026 (vs €0.033 in 3Q 2023)Third quarter 2024 results: EPS: €0.026 (down from €0.033 in 3Q 2023). Revenue: €506.1m (down 11% from 3Q 2023). Net income: €11.8m (down 20% from 3Q 2023). Profit margin: 2.3% (down from 2.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Nov 07Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.4% to €1.65. The fair value is estimated to be €2.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 87%. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 11% in the next 2 years.
New Risk • Oct 07New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Shareholders have been diluted in the past year (2.7% increase in shares outstanding).
Reported Earnings • Oct 02Second quarter 2024 earnings released: EPS: €0.039 (vs €0.014 in 2Q 2023)Second quarter 2024 results: EPS: €0.039 (up from €0.014 in 2Q 2023). Revenue: €402.6m (down 22% from 2Q 2023). Net income: €17.8m (up 181% from 2Q 2023). Profit margin: 4.4% (up from 1.2% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Jul 04Now 21% overvalued after recent price riseOver the last 90 days, the stock has risen 11% to €1.87. The fair value is estimated to be €1.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 82%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.
New Risk • Jun 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (159% net debt to equity). Shareholders have been diluted in the past year (3.0% increase in shares outstanding).
Reported Earnings • May 19First quarter 2024 earnings released: EPS: €0.036 (vs €0.005 in 1Q 2023)First quarter 2024 results: EPS: €0.036 (up from €0.005 in 1Q 2023). Revenue: €482.1m (down 31% from 1Q 2023). Net income: €15.9m (up €13.9m from 1Q 2023). Profit margin: 3.3% (up from 0.3% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
お知らせ • May 17Audax Renovables, S.A., Annual General Meeting, Jun 18, 2024Audax Renovables, S.A., Annual General Meeting, Jun 18, 2024. Location: hotel marina badalona, avinguda d`eduard maristany 227, badalona Spain
Valuation Update With 7 Day Price Move • Mar 28Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €1.54, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 19x in the Renewable Energy industry in Germany. Total loss to shareholders of 24% over the past three years.
Reported Earnings • Oct 01Second quarter 2023 earnings released: EPS: €0.014 (vs €0.002 loss in 2Q 2022)Second quarter 2023 results: EPS: €0.014 (up from €0.002 loss in 2Q 2022). Revenue: €519.2m (down 12% from 2Q 2022). Net income: €6.35m (up €7.16m from 2Q 2022). Profit margin: 1.2% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Reported Earnings • Mar 01Full year 2022 earnings released: EPS: €0.01 (vs €0.006 in FY 2021)Full year 2022 results: EPS: €0.01 (up from €0.006 in FY 2021). Revenue: €2.63b (up 56% from FY 2021). Net income: €3.54m (up 25% from FY 2021). Profit margin: 0.1% (down from 0.2% in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 8.4% decline forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Jan 10Investor sentiment improved over the past weekAfter last week's 37% share price gain to €1.15, the stock trades at a forward P/E ratio of 67x. Average forward P/E is 21x in the Renewable Energy industry in Europe. Total loss to shareholders of 54% over the past three years.
お知らせ • Dec 29Audax Renovables, S.A. (BME:ADX) announces an Equity Buyback for 800,000 shares, representing 0.18% for €1 million.Audax Renovables, S.A. (BME:ADX) announces a share repurchase program. Under the program, the company will repurchase up to 800,000 shares for €1 million. The company will not buy shares at a price higher than the highest of the last independent transaction or the highest independent offer at that moment in the trading venues where the purchase is made. The program will be valid for 11 months.
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. 5 non-independent directors. Independent Director Josep Maria Torres was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 03Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €586.6m (up 68% from 2Q 2021). Net loss: €804.0k (loss narrowed 84% from 2Q 2021). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
お知らせ • Sep 14+ 2 more updatesAudax Renovables, S.A. to Report Q3, 2022 Results on Nov 15, 2022Audax Renovables, S.A. announced that they will report Q3, 2022 results on Nov 15, 2022
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. 5 non-independent directors. Independent Director Josep Maria Torres was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Feb 28Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: €0.01 (down from €0.06 in FY 2020). Revenue: €1.68b (up 74% from FY 2020). Net income: €2.84m (down 89% from FY 2020). Profit margin: 0.2% (down from 2.7% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to stay flat compared to a 44% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Feb 23Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €1.02, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 24x in the Renewable Energy industry in Europe. Total loss to shareholders of 58% over the past three years.
Reported Earnings • Oct 01Second quarter 2021 earnings releasedThe company reported a decent second quarter result with improved revenues, although earnings and control over costs were weaker. Second quarter 2021 results: Revenue: €348.4m (up 106% from 2Q 2020). Net loss: €5.11m (down 293% from profit in 2Q 2020).
Reported Earnings • Mar 04Full year 2020 earnings released: EPS €0.06 (vs €0.058 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: €967.4m (down 7.1% from FY 2019). Net income: €26.4m (up 3.8% from FY 2019). Profit margin: 2.7% (up from 2.4% in FY 2019). The increase in margin was driven by lower expenses.
Analyst Estimate Surprise Post Earnings • Mar 04Revenue beats expectationsRevenue exceeded analyst estimates by 12%. Over the next year, revenue is forecast to grow 15%, compared to a 28% growth forecast for the Renewable Energy industry in Germany.
お知らせ • Jan 15Audax Renovables, S.A. (BME:ADX) acquired Two 5-MWp solar photovoltaic projects in Toledo from Energy Pool.Audax Renovables, S.A. (BME:ADX) acquired Two 5-MWp solar photovoltaic projects in Toledo from Energy Pool on January 14, 2021. Audax Renovables, S.A. funded the transaction in part using proceeds from recent green bond issues and will cover the rest with own resources. Audax Renovables, S.A. (BME:ADX) completed the acquisition of Two 5-MWp solar photovoltaic projects in Toledo from Energy Pool on January 14, 2021.
お知らせ • Jan 12Global Portfolio Investments, S. L. managed by Indumenta Pueri, S.L. acquired a 5.8% stake in Audax Renovables, S.A. (BME:ADX) from Electrica Nuriel S.L. for €56.2 million.Global Portfolio Investments, S. L. managed by Indumenta Pueri, S.L. acquired a 5.8% stake in Audax Renovables, S.A. (BME:ADX) from Electrica Nuriel S.L. for €56.2 million on January 11, 2021. Under the terms of the transaction, Global Portfolio Investments will acquire the shares at €2.2 per share. Upon completion, Electrica Nuriel will now hold 70% stake in Audax. Global Portfolio Investments, S. L. managed by Indumenta Pueri, S.L. completed the acquisition of a 5.8% stake in Audax Renovables, S.A. (BME:ADX) from Electrica Nuriel S.L. on January 11, 2021.
Valuation Update With 7 Day Price Move • Jan 08Investor sentiment improved over the past weekAfter last week's 19% share price gain to €2.29, the stock is trading at a trailing P/E ratio of 41.3x, up from the previous P/E ratio of 34.6x. This compares to an average P/E of 33x in the Renewable Energy industry in Germany. Total return to shareholders over the past year is a loss of 5.2%.
Is New 90 Day High Low • Jan 08New 90-day high: €2.29The company is up 12% from its price of €2.05 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 10.0% over the same period.
Valuation Update With 7 Day Price Move • Dec 30Investor sentiment improved over the past weekAfter last week's 15% share price gain to €1.97, the stock is trading at a trailing P/E ratio of 35.6x, up from the previous P/E ratio of 31x. This compares to an average P/E of 32x in the Renewable Energy industry in Germany. Total return to shareholders over the past year is a loss of 1.1%.
Is New 90 Day High Low • Dec 03New 90-day low: €1.63The company is down 1.0% from its price of €1.64 on 04 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.
お知らせ • Nov 24Audax Renovables, S.A. announced that it has received €125 million in fundingOn November 23, 2020, Audax Renovables, S.A. (BME:ADX) closed the transaction. The transaction was 2.4 times over demanded.
Reported Earnings • Nov 16Third quarter 2020 earnings released: EPS €0.014The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €222.3m (down 8.1% from 3Q 2019). Net income: €6.21m (up 45% from 3Q 2019). Profit margin: 2.8% (up from 1.8% in 3Q 2019). The increase in margin was driven by lower expenses.
Valuation Update With 7 Day Price Move • Oct 14Market bids up stock over the past weekAfter last week's 17% share price gain to €2.18, the stock is trading at a trailing P/E ratio of 42.3x, up from the previous P/E ratio of 36x. This compares to an average P/E of 24x in the Renewable Energy industry in Germany. Total returns to shareholders over the past year are 29%.
Is New 90 Day High Low • Oct 08New 90-day high: €2.06The company is up 21% from its price of €1.70 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is flat over the same period.
お知らせ • Oct 05Audax Renovables, S.A. to Report Q1, 2021 Results on May 15, 2021Audax Renovables, S.A. announced that they will report Q1, 2021 results on May 15, 2021
お知らせ • Sep 29+ 1 more updateAudax Renovables, S.A. (BME:ADX) completed the acquisition of E.ON Energiakereskedelmi Korlátolt Felelosségu Társaság from E.ON Hungária Zrt.Audax Renovables, S.A. (BME:ADX) signed a contract to acquire E.ON Energiakereskedelmi Korlátolt Felelosségu Társaság from E.ON Hungária Zrt. on July 8, 2020. The transaction is subject to certain conditions precedent and has yet to obtain the necessary approval from appropriate European and Hungarian regulatory bodies. It is expected to be completed between the third and the fourth quarter of 2020. BNP Paribas SA acted as financial advisor to E.ON Hungária Zrt. CMS Germany acted as legal advisor to E.ON Hungária Zrt. Audax Renovables, S.A. (BME:ADX) completed the acquisition of E.ON Energiakereskedelmi Korlátolt Felelosségu Társaság from E.ON Hungária Zrt. on September 28, 2020. All the conditions have been satisfied and approval has been received from European and Hungarian regulatory bodies.
Reported Earnings • Sep 26First half earnings releasedOver the last 12 months the company has reported total profits of €22.7m, up 31% from the prior year. Total revenue was €919.2m over the last 12 months, down 15% from the prior year.
お知らせ • Sep 24Audax Renovables, S.A. (BME:ADX) acquired a 75% stake in PH Simples.Audax Renovables, S.A. (BME:ADX) acquired a 75% stake in PH Simples effective September 1, 2020.