お知らせ • Nov 04
B&S Group S.A. Announces Board Resignations B&S Group S.A. announced that Mr. B.A. Wissink and Mr. W.A. Blijdorp withdrew their candidacies for the Executive Board and Supervisory Board, respectively. Accordingly, the resolutions concerning their appointments became moot and were not voted on. お知らせ • Apr 28
B&S Group S.A. Approves the Dividend for the 2024, Payable on or Around July 3, 2025 B&S Group S.A. approved the dividend proposal. The dividend for the 2024 financial year amounts to EUR 0.19 per Ordinary Share and will be payable on or around July 3, 2025. The ex-dividend date is set for April 29, 2025, and the record date for April 30, 2025. お知らせ • Nov 12
B&S Group S.A., Annual General Meeting, Apr 25, 2025 B&S Group S.A., Annual General Meeting, Apr 25, 2025. お知らせ • Nov 08
B&S Group S.A. to Report First Half, 2024 Results on Aug 19, 2024 B&S Group S.A. announced that they will report first half, 2024 results on Aug 19, 2024 Reported Earnings • Aug 22
First half 2023 earnings released: EPS: €0.08 (vs €0.15 in 1H 2022) First half 2023 results: EPS: €0.08 (down from €0.15 in 1H 2022). Revenue: €1.06b (up 7.6% from 1H 2022). Net income: €7.03m (down 43% from 1H 2022). Profit margin: 0.7% (down from 1.2% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Buying Opportunity • May 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.4%. The fair value is estimated to be €4.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has declined by 3.9%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings is also forecast to grow by 27% per annum over the same time period. Upcoming Dividend • May 17
Upcoming dividend of €0.12 per share at 3.0% yield Eligible shareholders must have bought the stock before 24 May 2023. Payment date: 04 July 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (3.9%). Reported Earnings • Apr 21
Full year 2022 earnings released: EPS: €0.31 (vs €0.46 in FY 2021) Full year 2022 results: EPS: €0.31 (down from €0.46 in FY 2021). Revenue: €2.15b (up 15% from FY 2021). Net income: €26.1m (down 32% from FY 2021). Profit margin: 1.2% (down from 2.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €4.05, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Retail Distributors industry in Europe. Total loss to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €4.43, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Retail Distributors industry in Europe. Total loss to shareholders of 60% over the past three years. Reported Earnings • Aug 24
First half 2022 earnings released: EPS: €0.15 (vs €0.17 in 1H 2021) First half 2022 results: EPS: €0.15 (down from €0.17 in 1H 2021). Revenue: €983.2m (up 19% from 1H 2021). Net income: €12.3m (down 16% from 1H 2021). Profit margin: 1.2% (down from 1.8% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.0% while the Retail Distributors industry in the United Kingdom is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • May 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €5.58, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Retail Distributors industry in Europe. Total loss to shareholders of 53% over the past three years. Upcoming Dividend • May 12
Upcoming dividend of €0.18 per share Eligible shareholders must have bought the stock before 19 May 2022. Payment date: 04 July 2022. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of British dividend payers (4.8%). Higher than average of industry peers (2.1%). Reported Earnings • Mar 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.46 (up from €0.26 in FY 2020). Revenue: €1.87b (flat on FY 2020). Net income: €38.5m (up 77% from FY 2020). Profit margin: 2.1% (up from 1.2% in FY 2020). Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 7.7%, compared to a 4.0% growth forecast for the retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 01
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.46 (up from €0.26 in FY 2020). Revenue: €1.87b (flat on FY 2020). Net income: €38.5m (up 77% from FY 2020). Profit margin: 2.1% (up from 1.2% in FY 2020). Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 6.0%, compared to a 3.7% growth forecast for the retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 01
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.46 (up from €0.26 in FY 2020). Revenue: €1.87b (flat on FY 2020). Net income: €38.5m (up 77% from FY 2020). Profit margin: 2.1% (up from 1.2% in FY 2020). Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 6.0%, compared to a 3.7% growth forecast for the retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 25
First half 2021 earnings released: EPS €0.17 (vs €0.07 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: €823.6m (down 1.5% from 1H 2020). Net income: €14.7m (up 160% from 1H 2020). Profit margin: 1.8% (up from 0.7% in 1H 2020). The increase in margin was driven by lower expenses. Upcoming Dividend • May 13
Upcoming dividend of €0.10 per share Eligible shareholders must have bought the stock before 20 May 2021. Payment date: 02 July 2021. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (1.3%). Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 7.3% while theRetail Distributors industry in the United Kingdom is not expected to grow. Reported Earnings • Feb 23
Full year 2020 earnings released: EPS €0.26 (vs €0.56 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.86b (down 5.9% from FY 2019). Net income: €21.7m (down 54% from FY 2019). Profit margin: 1.2% (down from 2.4% in FY 2019). The decrease in margin was driven by lower revenue.