Board Change • Apr 15
No independent 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. No independent directors (7 non-independent directors). Technical & Production Director and Director Gheorghe Indreica 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: Lack of independent directors. Insufficient board refreshment. New Risk • Mar 31
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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. Earnings have declined by 17% per year over the past 5 years. Market cap is less than US$10m (RON7.64m market cap, or US$1.72m). Board Change • Feb 17
No independent 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. No independent directors (7 non-independent directors). Technical & Production Director and Director Gheorghe Indreica 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: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 12
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. 7 non-independent directors. Technical & Production Director and Director Gheorghe Indreica was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 25
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. 7 non-independent directors. Software Director & Director Gheorghe Indreica was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 17
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. 7 non-independent directors. Software Director & Director Gheorghe Indreica was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 10
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. 7 non-independent directors. Software Director & Director Gheorghe Indreica was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (RON5.66m market cap, or US$1.29m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Board Change • Feb 28
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. 7 non-independent directors. Software Director & Director Gheorghe Indreica was the last director to join the board, commencing their role in 2023. 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 • Aug 27
Investor sentiment deteriorates as stock falls 31% After last week's 31% share price decline to RON5.50, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 23x in the Metals and Mining industry in Romania. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to RON9.20, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 12x in the Metals and Mining industry in Romania. Reported Earnings • Apr 14
Full year 2023 earnings released Full year 2023 results: Revenue: RON104.4m (down 6.1% from FY 2022). Net income: RON3.38m (down 23% from FY 2022). Profit margin: 3.2% (down from 3.9% in FY 2022). The decrease in margin was driven by lower revenue. Board Change • Apr 12
No independent 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. No independent directors (7 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.