Reported Earnings • Jun 15
Full year 2021 earnings released: EPS: US$18.18 (vs US$3.33 in FY 2020) Full year 2021 results: EPS: US$18.18 (up from US$3.33 in FY 2020). Revenue: US$4.61b (up 30% from FY 2020). Net income: US$633.0m (up 446% from FY 2020). Profit margin: 14% (up from 3.3% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
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. 4 experienced directors. No highly experienced directors. Independent Director Adriaan Nuhn was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 78% share price gain to €172, the stock trades at a trailing P/E ratio of 15.4x. Average trailing P/E is 13x in the Consumer Durables industry in Europe. Total returns to shareholders of 207% over the past three years. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS US$3.68 (vs US$1.09 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$1.18b (up 18% from 3Q 2020). Net income: US$127.8m (up 237% from 3Q 2020). Profit margin: 11% (up from 3.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS US$4.42 (vs US$0.29 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$1.19b (up 73% from 2Q 2020). Net income: US$153.9m (up US$164.0m from 2Q 2020). Profit margin: 13% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improved over the past week After last week's 15% share price gain to US$95.80, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 18x in the Consumer Durables industry in Europe. Total returns to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improved over the past week After last week's 22% share price gain to US$83.10, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 17x in the Consumer Durables industry in Europe. Total returns to shareholders of 32% over the past three years. Reported Earnings • May 07
First quarter 2021 earnings released: EPS US$3.12 (vs US$1.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$1.05b (up 31% from 1Q 2020). Net income: US$108.6m (up 181% from 1Q 2020). Profit margin: 10% (up from 4.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS US$3.34 (vs US$8.39 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$3.54b (down 3.9% from FY 2019). Net income: US$116.1m (down 60% from FY 2019). Profit margin: 3.3% (down from 7.9% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 02
New 90-day high: €65.80 The company is up 23% from its price of €53.60 on 01 December 2020. The Dutch market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 5.0% over the same period. Is New 90 Day High Low • Feb 04
New 90-day high: €65.40 The company is up 22% from its price of €53.60 on 05 November 2020. The Dutch market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: €63.40 The company is up 32% from its price of €48.10 on 15 September 2020. The Dutch market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 21% share price gain to US$63.40, the stock is trading at a trailing P/E ratio of 15.8x, up from the previous P/E ratio of 13x. This compares to an average P/E of 18x in the Consumer Durables industry in Europe. Total returns to shareholders over the past three years are 2.0%. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS US$1.09 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: US$1.00b (up 12% from 3Q 2019). Net income: US$37.9m (down 46% from 3Q 2019). Profit margin: 3.8% (down from 7.9% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 6% per year. Is New 90 Day High Low • Oct 21
New 90-day high: €52.20 The company is up 11% from its price of €47.20 on 22 July 2020. The Dutch market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 6.0% over the same period. Is New 90 Day High Low • Sep 30
New 90-day high: €49.70 The company is up 6.0% from its price of €47.10 on 02 July 2020. The Dutch market is down 3.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Consumer Durables industry, which is also up 6.0% over the same period.