Ascopiave（0DME）株式概要Ascopiave S.p.A.はイタリアで天然ガスの配給を行っている。 詳細0DME ファンダメンタル分析スノーフレーク・スコア評価3/6将来の成長1/6過去の実績5/6財務の健全性2/6配当金4/6報酬株価収益率（ 8 x） UK市場（ 16.1 x）を下回っています。収益は年間4.69%増加すると予測されています 過去1年間で収益は120.5%増加しました アナリストらは、株価が26.7%上昇するだろうとほぼ一致している。 リスク分析今後3年間の収益は年平均19.8%減少すると予測されている。 株式の流動性は非常に低い 多額の負債を抱えている 不安定な配当実績 すべてのリスクチェックを見る0DME Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value€Current Price€3.2535.4% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-57m545m2016201920222025202620282031Revenue €327.3mEarnings €106.9mAdvancedSet Fair ValueView all narrativesAscopiave S.p.A. 競合他社Telecom PlusSymbol: LSE:TEPMarket cap: UK£871.8mYü GroupSymbol: AIM:YU.Market cap: UK£299.0mPennon GroupSymbol: LSE:PNNMarket cap: UK£2.5bJersey ElectricitySymbol: LSE:JELMarket cap: UK£137.9m価格と性能株価の高値、安値、推移の概要Ascopiave過去の株価現在の株価€3.2552週高値€3.8852週安値€3.02ベータ0.821ヶ月の変化-3.56%3ヶ月変化n/a1年変化0%3年間の変化17.54%5年間の変化-13.33%IPOからの変化89.46%最新ニュースReported Earnings • May 09First quarter 2026 earnings released: EPS: €0.034 (vs €0.043 in 1Q 2025)First quarter 2026 results: EPS: €0.034 (down from €0.043 in 1Q 2025). Revenue: €70.8m (up 29% from 1Q 2025). Net income: €7.47m (down 20% from 1Q 2025). Profit margin: 11% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. 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 6% per year, which means it is significantly lagging earnings growth.Board Change • May 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Lead Independent Director Giovanni Zoppas was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.New Risk • Apr 16New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% 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 Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Shares are highly illiquid. Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (185% cash payout ratio).Declared Dividend • Apr 13Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 60% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Declared Dividend • Mar 19Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 70% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.お知らせ • Mar 18Ascopiave S.p.A. announces Annual dividend, payable on May 06, 2026Ascopiave S.p.A. announced Annual dividend of EUR 0.1600 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026.最新情報をもっと見るRecent updatesReported Earnings • May 09First quarter 2026 earnings released: EPS: €0.034 (vs €0.043 in 1Q 2025)First quarter 2026 results: EPS: €0.034 (down from €0.043 in 1Q 2025). Revenue: €70.8m (up 29% from 1Q 2025). Net income: €7.47m (down 20% from 1Q 2025). Profit margin: 11% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. 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 6% per year, which means it is significantly lagging earnings growth.Board Change • May 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Lead Independent Director Giovanni Zoppas was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.New Risk • Apr 16New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% 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 Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Shares are highly illiquid. Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (185% cash payout ratio).Declared Dividend • Apr 13Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 60% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Declared Dividend • Mar 19Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 70% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.お知らせ • Mar 18Ascopiave S.p.A. announces Annual dividend, payable on May 06, 2026Ascopiave S.p.A. announced Annual dividend of EUR 0.1600 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 16Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026, at 15:00 W. Europe Standard Time.Reported Earnings • Mar 10Full year 2025 earnings released: EPS: €0.40 (vs €0.17 in FY 2024)Full year 2025 results: EPS: €0.40 (up from €0.17 in FY 2024). Revenue: €244.3m (up 19% from FY 2024). Net income: €86.8m (up 142% from FY 2024). Profit margin: 36% (up from 18% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.お知らせ • Dec 16Ascopiave S.p.A. to Report Fiscal Year 2025 Results on Mar 05, 2026Ascopiave S.p.A. announced that they will report fiscal year 2025 results on Mar 05, 2026お知らせ • Dec 13+ 2 more updatesAscopiave S.p.A. to Report First Half, 2026 Results on Jul 30, 2026Ascopiave S.p.A. announced that they will report first half, 2026 results on Jul 30, 2026お知らせ • Nov 27Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million.Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million on November 26, 2025. A cash consideration of €46 million will be paid by Ascopiave S.p.A, which may be subject to adjustment after closing, as is usual. Ascopiave is going to finance the acquisition through its available funds or bank credit lines first and foremost. For the period ending December 31, 2024, Societa' Impianti Metano S.R.L. reported EBITDA of €5.4 million. The deal shall be subject to the condition precedent of the successful completion of the so-called Golden Power procedure.Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: €0.05 (vs €0.036 in 3Q 2024)Third quarter 2025 results: EPS: €0.05 (up from €0.036 in 3Q 2024). Revenue: €75.9m (up 61% from 3Q 2024). Net income: €10.8m (up 37% from 3Q 2024). Profit margin: 14% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Gas Utilities industry in Europe. 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 11% per year, which means it is significantly lagging earnings growth.お知らせ • Jul 02Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A).Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Gas network assets from A2A S.p.A. (BIT:A2A) for €430 million on December 19, 2024. A cash consideration of €430 million will be paid by Ascopiave S.p.A. As part of consideration, €430 million is paid towards assets of Gas network assets of A2A S.p.A. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. For the period ending December 31, 2023, Gas network assets of A2A S.p.A. reported EBITDA of €44 million. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. The closing is expected by July 2025. Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A) on June 30, 2025.お知らせ • Jul 01Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L.Ascopiave S.p.A. (BIT:ASC) proposed a non-binding offer to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. for €430 million on July 30, 2024. The parties agree to continue the negotiation process, and A2A grants Ascopiave an exclusive negotiation period until December 15, 2024, to carry out the usual due diligence activities with the aim of potentially reaching the signing of a binding agreement by that date. The potential completion of the transaction will be subject, among other things, to the positive outcome of the due diligence, the negotiation of mutually satisfactory contractual agreements, the obtaining of necessary authorizations from the competent authorities, as well as the approval of the corporate bodies of A2A and Ascopiave. on December 13, 2024, , A2A S.p.A. and Ascopiave S.p.A. inform that today a technical extension of this exclusive period has been agreed from December 15 to December 24, 2024 inclusive, to allow the parties to finalize the negotiation. Ascopiave S.p.A. entered into a preliminary purchase agreement to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on December 19, 2024. The agreed base price for the transaction is €430 million, which reflects the valuation of the business unit as of December 31, 2023, subject to adjustment after closing, as customary. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. For the year ended December 2023, the portfolio reported EBITDA of €44 million. The closing is expected by July 2025. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on June 30, 2025. The operation was completed following the fulfillment of the relevant condition precedents and the contribution by Unareti S.p.A. and LD Reti S.r.l. to AP RETI GAS North S.r.l. of the assets included in the aforementioned business units. The purchase price paid by Ascopiave S.p.A., which reflects the valuation of the business unit as of December 31, 2023, amounts to €430 million and will be subject to post-closing adjustments, as is customary. The transaction will be effective from July 1, 2025.Reported Earnings • May 10First quarter 2025 earnings released: EPS: €0.043 (vs €0.03 in 1Q 2024)First quarter 2025 results: EPS: €0.043 (up from €0.03 in 1Q 2024). Revenue: €54.8m (up 16% from 1Q 2024). Net income: €9.28m (up 42% from 1Q 2024). Profit margin: 17% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year.New Risk • May 06New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 161% Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Minor Risk High level of debt (45% net debt to equity).お知らせ • Apr 23Ascopiave S.p.A. announces Annual dividend, payable on May 07, 2025Ascopiave S.p.A. announced Annual dividend of EUR 0.1500 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025.お知らせ • Mar 17Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025, at 15:00 W. Europe Standard Time.New Risk • Mar 12New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 138% Dividend yield: 5.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 138% Minor Risk High level of debt (43% net debt to equity).お知らせ • Dec 13+ 3 more updatesAscopiave S.p.A. to Report Fiscal Year 2024 Results on Mar 06, 2025Ascopiave S.p.A. announced that they will report fiscal year 2024 results on Mar 06, 2025Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €47.2m (up 14% from 3Q 2023). Net income: €7.87m (up €7.06m from 3Q 2023). Profit margin: 17% (up from 2.0% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Gas Utilities industry in Europe.Reported Earnings • Jul 31Second quarter 2024 earnings released: EPS: €0.052 (vs €0.029 in 2Q 2023)Second quarter 2024 results: EPS: €0.052 (up from €0.029 in 2Q 2023). Revenue: €51.7m (up 20% from 2Q 2023). Net income: €11.3m (up 81% from 2Q 2023). Profit margin: 22% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% 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 • May 10First quarter 2024 earnings released: EPS: €0.03 (vs €0.027 in 1Q 2023)First quarter 2024 results: EPS: €0.03 (up from €0.027 in 1Q 2023). Revenue: €47.4m (up 17% from 1Q 2023). Net income: €6.55m (up 13% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings.Declared Dividend • Apr 12Dividend increased to €0.14Dividend of €0.14 is 7.7% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 6.0%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. Since a fall of 6.7% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Declared Dividend • Mar 29Dividend increased to €0.14Dividend of €0.14 is 7.7% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. Since a fall of 6.7% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Reported Earnings • Mar 09Full year 2023 earnings released: EPS: €0.17 (vs €0.14 in FY 2022)Full year 2023 results: EPS: €0.17 (up from €0.14 in FY 2022). Revenue: €180.8m (up 11% from FY 2022). Net income: €36.1m (up 16% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% 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.お知らせ • Dec 14+ 4 more updatesAscopiave S.p.A., Annual General Meeting, Apr 17, 2024Ascopiave S.p.A., Annual General Meeting, Apr 17, 2024. Agenda: To approve Financial Statements and illustrating the consolidated Financial Statements as of December 31, 2023.Upcoming Dividend • Apr 25Upcoming dividend of €0.13 per share at 4.7% yieldEligible shareholders must have bought the stock before 02 May 2023. Payment date: 04 May 2023. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (4.4%).Reported Earnings • Mar 09Full year 2022 earnings released: EPS: €0.14 (vs €0.21 in FY 2021)Full year 2022 results: EPS: €0.14 (down from €0.21 in FY 2021). Revenue: €163.7m (up 21% from FY 2021). Net income: €31.2m (down 31% from FY 2021). Profit margin: 19% (down from 34% 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, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.お知らせ • Dec 07+ 2 more updatesAscopiave S.p.A., Annual General Meeting, Apr 26, 2023Ascopiave S.p.A., Annual General Meeting, Apr 26, 2023. Agenda: To consider approving the Financial Statements and illustrating the consolidated Financial Statements as of December 31, 2022.Board Change • Nov 17High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Nov 05Third quarter 2022 earnings releasedThird quarter 2022 results: Net income: (down €2.84m from profit in 3Q 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Oct 26Investor sentiment improved over the past weekAfter last week's 17% share price gain to €2.27, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Gas Utilities industry in Europe. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.47 per share.Reported Earnings • Aug 05Second quarter 2022 earnings released: EPS: €0.051 (vs €0.061 in 2Q 2021)Second quarter 2022 results: EPS: €0.051 (down from €0.061 in 2Q 2021). Revenue: €47.3m (up 71% from 2Q 2021). Net income: €11.1m (down 16% from 2Q 2021). Profit margin: 24% (down from 48% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19% compared to a 11% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Buying Opportunity • Aug 05Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 20%. The fair value is estimated to be €3.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 40%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 9.0% in the next 2 years.Buying Opportunity • Jul 14Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be €3.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings is also forecast to grow by 1.6% per annum over the same time period.Reported Earnings • May 14First quarter 2022 earnings released: EPS: €0.056 (vs €0.063 in 1Q 2021)First quarter 2022 results: EPS: €0.056 (down from €0.063 in 1Q 2021). Revenue: €34.1m (down 11% from 1Q 2021). Net income: €12.2m (down 11% from 1Q 2021). Profit margin: 36% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 41%, compared to a 1.4% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Board Change • May 04High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Mar 13Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: €0.21 (down from €0.26 in FY 2020). Revenue: €134.9m (down 18% from FY 2020). Net income: €45.3m (down 23% from FY 2020). Profit margin: 34% (down from 36% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 26% compared to a 2.3% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Board Change • Feb 24High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. 1 highly experienced director. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS €0.10 (vs €0.034 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €33.6m (down 22% from 3Q 2020). Net income: €2.84m (down 63% from 3Q 2020). Profit margin: 8.5% (down from 18% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 26Upcoming dividend of €0.16 per shareEligible shareholders must have bought the stock before 03 May 2021. Payment date: 05 May 2021. Trailing yield: 4.1%. Within top quartile of British dividend payers (4.1%). Lower than average of industry peers (6.1%).株主還元0DMEGB Gas UtilitiesGB 市場7D-7.4%-1.4%-0.8%1Y0%21.1%19.7%株主還元を見る業界別リターン: 0DME過去 1 年間で21.1 % の収益を上げたUK Gas Utilities業界を下回りました。リターン対市場: 0DMEは、過去 1 年間で19.7 % のリターンを上げたUK市場を下回りました。価格変動Is 0DME's price volatile compared to industry and market?0DME volatility0DME Average Weekly Movementn/aGas Utilities Industry Average Movement3.4%Market Average Movement5.6%10% most volatile stocks in GB Market11.6%10% least volatile stocks in GB Market3.1%安定した株価: 0DMEの株価は、 UK市場と比較して過去 3 か月間で変動しています。時間の経過による変動: 過去 1 年間の0DMEのボラティリティの変化を判断するには データが不十分です。会社概要設立従業員CEO（最高経営責任者ウェブサイト1956706Nicola Cecconatowww.gruppoascopiave.itAscopiave S.p.A.はイタリアで天然ガスの配給を行っている。ガス供給事業、再生可能エネルギー事業、その他事業を行っている。同社は、様々な自治体でガス配給のコンセッションや直接委託を受け、配給ネットワークを通じて利用者にサービスを提供している。また、再生可能エネルギーおよび総合水事業、熱管理およびコージェネレーション事業、水力発電所、太陽光発電所、風力発電所の運営を通じた再生可能エネルギーによるエネルギー生産にも携わっている。1956年に設立され、イタリアのピエーヴェ・ディ・ソリーゴに本社を置く。Ascopiave S.p.A.はAsco Holding SpAの子会社である。もっと見るAscopiave S.p.A. 基礎のまとめAscopiave の収益と売上を時価総額と比較するとどうか。0DME 基礎統計学時価総額€677.45m収益（TTM）€85.03m売上高(TTM)€260.31m8.0xPER（株価収益率2.6xP/Sレシオ0DME は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計0DME 損益計算書（TTM）収益€260.31m売上原価€37.64m売上総利益€222.67mその他の費用€137.65m収益€85.03m直近の収益報告Mar 31, 2026次回決算日Jul 30, 2026一株当たり利益（EPS）0.39グロス・マージン85.54%純利益率32.66%有利子負債／自己資本比率72.4%0DME の長期的なパフォーマンスは？過去の実績と比較を見る配当金5.1%現在の配当利回り41%配当性向0DME 配当は確実ですか？0DME 配当履歴とベンチマークを見る0DME 、いつまでに購入すれば配当金を受け取れますか？Ascopiave 配当日配当落ち日Jun 08 2026配当支払日Jun 10 2026配当落ちまでの日数29 days配当支払日までの日数31 days0DME 配当は確実ですか？0DME 配当履歴とベンチマークを見るView Valuation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2026/05/10 08:26終値2026/05/07 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Ascopiave S.p.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。3 アナリスト機関Luigi De BellisEquita SIM S.p.A.Alberto FranceseIntesa Sanpaolo Equity ResearchDavide CandelaIntesa Sanpaolo Equity Research
Reported Earnings • May 09First quarter 2026 earnings released: EPS: €0.034 (vs €0.043 in 1Q 2025)First quarter 2026 results: EPS: €0.034 (down from €0.043 in 1Q 2025). Revenue: €70.8m (up 29% from 1Q 2025). Net income: €7.47m (down 20% from 1Q 2025). Profit margin: 11% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. 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 6% per year, which means it is significantly lagging earnings growth.
Board Change • May 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Lead Independent Director Giovanni Zoppas was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
New Risk • Apr 16New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% 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 Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Shares are highly illiquid. Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (185% cash payout ratio).
Declared Dividend • Apr 13Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 60% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Declared Dividend • Mar 19Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 70% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
お知らせ • Mar 18Ascopiave S.p.A. announces Annual dividend, payable on May 06, 2026Ascopiave S.p.A. announced Annual dividend of EUR 0.1600 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026.
Reported Earnings • May 09First quarter 2026 earnings released: EPS: €0.034 (vs €0.043 in 1Q 2025)First quarter 2026 results: EPS: €0.034 (down from €0.043 in 1Q 2025). Revenue: €70.8m (up 29% from 1Q 2025). Net income: €7.47m (down 20% from 1Q 2025). Profit margin: 11% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. 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 6% per year, which means it is significantly lagging earnings growth.
Board Change • May 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Lead Independent Director Giovanni Zoppas was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
New Risk • Apr 16New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% 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 Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Shares are highly illiquid. Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (185% cash payout ratio).
Declared Dividend • Apr 13Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 60% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Declared Dividend • Mar 19Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 70% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
お知らせ • Mar 18Ascopiave S.p.A. announces Annual dividend, payable on May 06, 2026Ascopiave S.p.A. announced Annual dividend of EUR 0.1600 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 16Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026, at 15:00 W. Europe Standard Time.
Reported Earnings • Mar 10Full year 2025 earnings released: EPS: €0.40 (vs €0.17 in FY 2024)Full year 2025 results: EPS: €0.40 (up from €0.17 in FY 2024). Revenue: €244.3m (up 19% from FY 2024). Net income: €86.8m (up 142% from FY 2024). Profit margin: 36% (up from 18% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
お知らせ • Dec 16Ascopiave S.p.A. to Report Fiscal Year 2025 Results on Mar 05, 2026Ascopiave S.p.A. announced that they will report fiscal year 2025 results on Mar 05, 2026
お知らせ • Dec 13+ 2 more updatesAscopiave S.p.A. to Report First Half, 2026 Results on Jul 30, 2026Ascopiave S.p.A. announced that they will report first half, 2026 results on Jul 30, 2026
お知らせ • Nov 27Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million.Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million on November 26, 2025. A cash consideration of €46 million will be paid by Ascopiave S.p.A, which may be subject to adjustment after closing, as is usual. Ascopiave is going to finance the acquisition through its available funds or bank credit lines first and foremost. For the period ending December 31, 2024, Societa' Impianti Metano S.R.L. reported EBITDA of €5.4 million. The deal shall be subject to the condition precedent of the successful completion of the so-called Golden Power procedure.
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: €0.05 (vs €0.036 in 3Q 2024)Third quarter 2025 results: EPS: €0.05 (up from €0.036 in 3Q 2024). Revenue: €75.9m (up 61% from 3Q 2024). Net income: €10.8m (up 37% from 3Q 2024). Profit margin: 14% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Gas Utilities industry in Europe. 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 11% per year, which means it is significantly lagging earnings growth.
お知らせ • Jul 02Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A).Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Gas network assets from A2A S.p.A. (BIT:A2A) for €430 million on December 19, 2024. A cash consideration of €430 million will be paid by Ascopiave S.p.A. As part of consideration, €430 million is paid towards assets of Gas network assets of A2A S.p.A. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. For the period ending December 31, 2023, Gas network assets of A2A S.p.A. reported EBITDA of €44 million. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. The closing is expected by July 2025. Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A) on June 30, 2025.
お知らせ • Jul 01Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L.Ascopiave S.p.A. (BIT:ASC) proposed a non-binding offer to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. for €430 million on July 30, 2024. The parties agree to continue the negotiation process, and A2A grants Ascopiave an exclusive negotiation period until December 15, 2024, to carry out the usual due diligence activities with the aim of potentially reaching the signing of a binding agreement by that date. The potential completion of the transaction will be subject, among other things, to the positive outcome of the due diligence, the negotiation of mutually satisfactory contractual agreements, the obtaining of necessary authorizations from the competent authorities, as well as the approval of the corporate bodies of A2A and Ascopiave. on December 13, 2024, , A2A S.p.A. and Ascopiave S.p.A. inform that today a technical extension of this exclusive period has been agreed from December 15 to December 24, 2024 inclusive, to allow the parties to finalize the negotiation. Ascopiave S.p.A. entered into a preliminary purchase agreement to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on December 19, 2024. The agreed base price for the transaction is €430 million, which reflects the valuation of the business unit as of December 31, 2023, subject to adjustment after closing, as customary. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. For the year ended December 2023, the portfolio reported EBITDA of €44 million. The closing is expected by July 2025. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on June 30, 2025. The operation was completed following the fulfillment of the relevant condition precedents and the contribution by Unareti S.p.A. and LD Reti S.r.l. to AP RETI GAS North S.r.l. of the assets included in the aforementioned business units. The purchase price paid by Ascopiave S.p.A., which reflects the valuation of the business unit as of December 31, 2023, amounts to €430 million and will be subject to post-closing adjustments, as is customary. The transaction will be effective from July 1, 2025.
Reported Earnings • May 10First quarter 2025 earnings released: EPS: €0.043 (vs €0.03 in 1Q 2024)First quarter 2025 results: EPS: €0.043 (up from €0.03 in 1Q 2024). Revenue: €54.8m (up 16% from 1Q 2024). Net income: €9.28m (up 42% from 1Q 2024). Profit margin: 17% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year.
New Risk • May 06New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 161% Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Minor Risk High level of debt (45% net debt to equity).
お知らせ • Apr 23Ascopiave S.p.A. announces Annual dividend, payable on May 07, 2025Ascopiave S.p.A. announced Annual dividend of EUR 0.1500 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025.
お知らせ • Mar 17Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025, at 15:00 W. Europe Standard Time.
New Risk • Mar 12New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 138% Dividend yield: 5.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 138% Minor Risk High level of debt (43% net debt to equity).
お知らせ • Dec 13+ 3 more updatesAscopiave S.p.A. to Report Fiscal Year 2024 Results on Mar 06, 2025Ascopiave S.p.A. announced that they will report fiscal year 2024 results on Mar 06, 2025
Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €47.2m (up 14% from 3Q 2023). Net income: €7.87m (up €7.06m from 3Q 2023). Profit margin: 17% (up from 2.0% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Gas Utilities industry in Europe.
Reported Earnings • Jul 31Second quarter 2024 earnings released: EPS: €0.052 (vs €0.029 in 2Q 2023)Second quarter 2024 results: EPS: €0.052 (up from €0.029 in 2Q 2023). Revenue: €51.7m (up 20% from 2Q 2023). Net income: €11.3m (up 81% from 2Q 2023). Profit margin: 22% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% 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 • May 10First quarter 2024 earnings released: EPS: €0.03 (vs €0.027 in 1Q 2023)First quarter 2024 results: EPS: €0.03 (up from €0.027 in 1Q 2023). Revenue: €47.4m (up 17% from 1Q 2023). Net income: €6.55m (up 13% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings.
Declared Dividend • Apr 12Dividend increased to €0.14Dividend of €0.14 is 7.7% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 6.0%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. Since a fall of 6.7% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Declared Dividend • Mar 29Dividend increased to €0.14Dividend of €0.14 is 7.7% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. Since a fall of 6.7% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Reported Earnings • Mar 09Full year 2023 earnings released: EPS: €0.17 (vs €0.14 in FY 2022)Full year 2023 results: EPS: €0.17 (up from €0.14 in FY 2022). Revenue: €180.8m (up 11% from FY 2022). Net income: €36.1m (up 16% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% 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.
お知らせ • Dec 14+ 4 more updatesAscopiave S.p.A., Annual General Meeting, Apr 17, 2024Ascopiave S.p.A., Annual General Meeting, Apr 17, 2024. Agenda: To approve Financial Statements and illustrating the consolidated Financial Statements as of December 31, 2023.
Upcoming Dividend • Apr 25Upcoming dividend of €0.13 per share at 4.7% yieldEligible shareholders must have bought the stock before 02 May 2023. Payment date: 04 May 2023. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (4.4%).
Reported Earnings • Mar 09Full year 2022 earnings released: EPS: €0.14 (vs €0.21 in FY 2021)Full year 2022 results: EPS: €0.14 (down from €0.21 in FY 2021). Revenue: €163.7m (up 21% from FY 2021). Net income: €31.2m (down 31% from FY 2021). Profit margin: 19% (down from 34% 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, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
お知らせ • Dec 07+ 2 more updatesAscopiave S.p.A., Annual General Meeting, Apr 26, 2023Ascopiave S.p.A., Annual General Meeting, Apr 26, 2023. Agenda: To consider approving the Financial Statements and illustrating the consolidated Financial Statements as of December 31, 2022.
Board Change • Nov 17High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Nov 05Third quarter 2022 earnings releasedThird quarter 2022 results: Net income: (down €2.84m from profit in 3Q 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Oct 26Investor sentiment improved over the past weekAfter last week's 17% share price gain to €2.27, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Gas Utilities industry in Europe. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.47 per share.
Reported Earnings • Aug 05Second quarter 2022 earnings released: EPS: €0.051 (vs €0.061 in 2Q 2021)Second quarter 2022 results: EPS: €0.051 (down from €0.061 in 2Q 2021). Revenue: €47.3m (up 71% from 2Q 2021). Net income: €11.1m (down 16% from 2Q 2021). Profit margin: 24% (down from 48% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19% compared to a 11% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Buying Opportunity • Aug 05Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 20%. The fair value is estimated to be €3.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 40%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 9.0% in the next 2 years.
Buying Opportunity • Jul 14Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be €3.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings is also forecast to grow by 1.6% per annum over the same time period.
Reported Earnings • May 14First quarter 2022 earnings released: EPS: €0.056 (vs €0.063 in 1Q 2021)First quarter 2022 results: EPS: €0.056 (down from €0.063 in 1Q 2021). Revenue: €34.1m (down 11% from 1Q 2021). Net income: €12.2m (down 11% from 1Q 2021). Profit margin: 36% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 41%, compared to a 1.4% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Board Change • May 04High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Mar 13Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: €0.21 (down from €0.26 in FY 2020). Revenue: €134.9m (down 18% from FY 2020). Net income: €45.3m (down 23% from FY 2020). Profit margin: 34% (down from 36% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 26% compared to a 2.3% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Board Change • Feb 24High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. 1 highly experienced director. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS €0.10 (vs €0.034 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €33.6m (down 22% from 3Q 2020). Net income: €2.84m (down 63% from 3Q 2020). Profit margin: 8.5% (down from 18% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 26Upcoming dividend of €0.16 per shareEligible shareholders must have bought the stock before 03 May 2021. Payment date: 05 May 2021. Trailing yield: 4.1%. Within top quartile of British dividend payers (4.1%). Lower than average of industry peers (6.1%).
