New Risk • May 06
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings have declined by 3.2% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (0.2% net profit margin). New Risk • May 05
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (2.0% net profit margin). Board Change • Apr 04
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. Member of the Supervisory Board Marton Olah 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. Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: Ft139 (vs Ft485 in FY 2024) Full year 2025 results: EPS: Ft139 (down from Ft485 in FY 2024). Revenue: Ft125.4b (up 19% from FY 2024). Net income: Ft3.04b (down 68% from FY 2024). Profit margin: 2.4% (down from 9.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Nov 21
Third quarter 2025 earnings released: Ft4.76 loss per share (vs Ft134 profit in 3Q 2024) Third quarter 2025 results: Ft4.76 loss per share (down from Ft134 profit in 3Q 2024). Revenue: Ft32.3b (up 29% from 3Q 2024). Net loss: Ft94.0m (down 103% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Ft5,140, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 15x in the Renewable Energy industry in Europe. Total returns to shareholders of 108% over the past three years. Reported Earnings • Sep 03
Second quarter 2025 earnings released: EPS: Ft92.06 (vs Ft158 in 2Q 2024) Second quarter 2025 results: EPS: Ft92.06 (down from Ft158 in 2Q 2024). Revenue: Ft25.5b (up 10% from 2Q 2024). Net income: Ft1.81b (down 42% from 2Q 2024). Profit margin: 7.1% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • May 20
First quarter 2025 earnings released: EPS: Ft49.40 (vs Ft128 in 1Q 2024) First quarter 2025 results: EPS: Ft49.40 (down from Ft128 in 1Q 2024). Revenue: Ft29.0b (up 8.7% from 1Q 2024). Net income: Ft981.0m (down 62% from 1Q 2024). Profit margin: 3.4% (down from 9.6% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to Ft4,780, the stock trades at a trailing P/E ratio of 9.7x. Average forward P/E is 12x in the Renewable Energy industry in Europe. Total returns to shareholders of 139% over the past three years. お知らせ • Dec 20
ALTEO Energy Services Public Limited Company, Annual General Meeting, Apr 16, 2025 ALTEO Energy Services Public Limited Company, Annual General Meeting, Apr 16, 2025. Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: Ft134 (vs Ft121 in 3Q 2023) Third quarter 2024 results: EPS: Ft134 (up from Ft121 in 3Q 2023). Revenue: Ft25.0b (up 39% from 3Q 2023). Net income: Ft2.67b (up 11% from 3Q 2023). Profit margin: 11% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 04
Second quarter 2024 earnings released: EPS: Ft158 (vs Ft161 in 2Q 2023) Second quarter 2024 results: EPS: Ft158 (down from Ft161 in 2Q 2023). Revenue: Ft23.1b (up 1.4% from 2Q 2023). Net income: Ft3.13b (down 2.6% from 2Q 2023). Profit margin: 14% (in line with 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Ft3,660, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 18x in the Renewable Energy industry in Europe. Total returns to shareholders of 226% over the past three years. New Risk • May 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hungarian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Reported Earnings • May 23
First quarter 2024 earnings released: EPS: Ft128 (vs Ft291 in 1Q 2023) First quarter 2024 results: EPS: Ft128 (down from Ft291 in 1Q 2023). Revenue: Ft26.7b (down 26% from 1Q 2023). Net income: Ft2.55b (down 56% from 1Q 2023). Profit margin: 9.6% (down from 16% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 21
Upcoming dividend of Ft403 per share Eligible shareholders must have bought the stock before 28 May 2024. Payment date: 07 June 2024. Trailing yield: 5.0%. Lower than top quartile of Hungarian dividend payers (7.8%). Higher than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Ft3,430, the stock trades at a trailing P/E ratio of 5.3x. Average forward P/E is 14x in the Renewable Energy industry in Europe. Total returns to shareholders of 184% over the past three years. お知らせ • Mar 20
ALTEO Energy Services Public Limited Company, , Annual General Meeting, Apr 19, 2024 ALTEO Energy Services Public Limited Company, , Annual General Meeting, Apr 19, 2024, at 10:00 Central European Standard Time. Location: Conference Hall I of the Bank Center at H-1054 Budapest, Szabadság tér 7 Budapest Hungary Agenda: To consider decision on the adoption of the company's individual annual report for 2023 under the international financial reporting standards its business report, the report of he board of directors and the auditor's report, and presentation of the relevant reports of the audit committee and the supervisory board; to consider decision on the adoption of the company's consolidated annual report for 2023 under the international financial reporting standards, its business report, the report of the board of directors and the auditor's report, and presentation of the relevant reports of the audit committee and the supervisory board; to consider decision on the acceptance of the corporate governance report prepared by the board of directors for submission to the Budapest stock exchange; to consider decision on the integrated report of ALTEO group for 2023; to consider decision on the use of the 2023 profit after taxation; and to consider other issues. New Risk • Aug 30
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 18% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (11% net profit margin). Reported Earnings • Aug 30
First half 2023 earnings released: EPS: Ft451 (vs Ft414 in 1H 2022) First half 2023 results: EPS: Ft451 (up from Ft414 in 1H 2022). Revenue: Ft58.9b (up 55% from 1H 2022). Net income: Ft8.96b (up 11% from 1H 2022). Profit margin: 15% (down from 21% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jul 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.9%. The fair value is estimated to be Ft3,324, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 97%. Buying Opportunity • Apr 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.2%. The fair value is estimated to be Ft3,602, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 97%. Buying Opportunity • Mar 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be Ft3,602, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last 3 years. Earnings per share has grown by 97%. Reported Earnings • Nov 18
Third quarter 2021 earnings released Third quarter 2021 results: Revenue: Ft9.27b (up 10% from 3Q 2020). Net income: Ft2.09b (up Ft2.32b from 3Q 2020). Profit margin: 23% (up from net loss in 3Q 2020). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 4 years, compared to a 8.8% growth forecast for the Renewable Energy industry in Europe. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Member of the Supervisory Board Attila Suto was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Price Target Changed • Sep 13
Price target increased to Ft3,802 Up from Ft2,992, the current price target is provided by 1 analyst. New target price is 27% above last closing price of Ft3,000. Stock is up 114% over the past year. The company posted earnings per share of Ft31.48 last year. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Member of the Supervisory Board Attila Suto was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to Ft1,890, the stock trades at a trailing P/E ratio of 15.6x. Average trailing P/E is 29x in the Renewable Energy industry in Europe. Total returns to shareholders of 162% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 26% share price gain to Ft2,270, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 29x in the Renewable Energy industry in Europe. Total returns to shareholders of 269% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 26% share price gain to Ft2,270, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 29x in the Renewable Energy industry in Europe. Total returns to shareholders of 269% over the past three years. Is New 90 Day High Low • Mar 16
New 90-day high: Ft1,225 The company is up 29% from a price of Ft950 on 16 December 2020. Outperformed the Hungarian market which is up 4.0% over the last 90 days. Exceeded the Renewable Energy industry, which is up 2.0% over the same period. Is New 90 Day High Low • Feb 03
New 90-day high: Ft1,200 The company is up 51% from its price of Ft796 on 04 November 2020. The Hungarian market is up 28% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 24% over the same period. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 22% share price gain to Ft1,145, the stock is trading at a trailing P/E ratio of 31.3x, up from the previous P/E ratio of 25.7x. This compares to an average P/E of 36x in the Renewable Energy industry in Europe. Total returns to shareholders over the past three years are 71%. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improved over the past week After last week's 23% share price gain to Ft1,140, the stock is trading at a trailing P/E ratio of 31.1x, up from the previous P/E ratio of 25.4x. This compares to an average P/E of 36x in the Renewable Energy industry in Europe. Total returns to shareholders over the past three years are 67%. Is New 90 Day High Low • Jan 07
New 90-day high: Ft976 The company is up 26% from its price of Ft776 on 09 October 2020. The Hungarian market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 28% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: Ft926 The company is up 14% from its price of Ft810 on 08 September 2020. The Hungarian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 13% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: Ft854 The company is up 14% from its price of Ft750 on 19 August 2020. The Hungarian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 8.0% over the same period. お知らせ • Aug 25
ALTEO Energiaszolgaltato Nyilvanosan Mukodo Reszvenytarsasag to Report First Half, 2020 Results on Aug 31, 2020 ALTEO Energiaszolgaltato Nyilvanosan Mukodo Reszvenytarsasag announced that they will report first half, 2020 results on Aug 31, 2020