New Risk • May 11
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 Austrian stocks, typically moving 5.9% 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: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • May 06
Second quarter 2026 earnings released: EPS: €0.37 (vs €0.44 in 2Q 2025) Second quarter 2026 results: EPS: €0.37 (down from €0.44 in 2Q 2025). Revenue: €304.9m (down 9.8% from 2Q 2025). Net income: €9.13m (down 17% from 2Q 2025). Profit margin: 3.0% (down from 3.2% in 2Q 2025). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 16
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to €17.10. The fair value is estimated to be €22.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to grow by 2.7% in 2 years. Earnings are forecast to grow by 254% in the next 2 years. Buy Or Sell Opportunity • Mar 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to €17.88. The fair value is estimated to be €22.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to grow by 2.9% in 2 years. Earnings are forecast to grow by 252% in the next 2 years. Upcoming Dividend • Jan 29
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 05 February 2026. Payment date: 09 February 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Austrian dividend payers (4.4%). Lower than average of industry peers (2.6%). Reported Earnings • Jan 27
First quarter 2026 earnings released: EPS: €0.31 (vs €0.56 in 1Q 2025) First quarter 2026 results: EPS: €0.31 (down from €0.56 in 1Q 2025). Revenue: €291.1m (down 11% from 1Q 2025). Net income: €7.72m (down 44% from 1Q 2025). Profit margin: 2.7% (down from 4.2% in 1Q 2025). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Declared Dividend • Jan 07
Dividend reduced to €0.35 Dividend of €0.35 is 70% lower than last year. Ex-date: 5th February 2026 Payment date: 9th February 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 153% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Dec 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (4.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.8% net profit margin). 공시 • Dec 17
Stabilus SE, Annual General Meeting, Feb 04, 2026 Stabilus SE, Annual General Meeting, Feb 04, 2026, at 10:00 W. Europe Standard Time. Declared Dividend • Dec 10
Dividend reduced to €0.35 Dividend of €0.35 is 70% lower than last year. Ex-date: 5th February 2026 Payment date: 9th February 2026 Dividend yield will be 1.9%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 154% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 09
Full year 2025 earnings released: EPS: €0.93 (vs €2.84 in FY 2024) Full year 2025 results: EPS: €0.93 (down from €2.84 in FY 2024). Revenue: €1.30b (flat on FY 2024). Net income: €24.2m (down 66% from FY 2024). Profit margin: 1.9% (down from 5.4% in FY 2024). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 30% per year whereas the company’s share price has fallen by 33% per year. 공시 • Dec 09
Stabilus SE announces Annual dividend, payable on February 09, 2026 Stabilus SE announced Annual dividend of EUR 0.3500 per share payable on February 09, 2026, ex-date on February 05, 2026 and record date on February 06, 2026. New Risk • Dec 08
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 Austrian stocks, typically moving 4.7% 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: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). 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 (4.7% average weekly change). Profit margins are more than 30% lower than last year (3.9% net profit margin). 공시 • Sep 05
Stabilus SE to Report Q1, 2026 Results on Jan 26, 2026 Stabilus SE announced that they will report Q1, 2026 results on Jan 26, 2026 Reported Earnings • Aug 04
Third quarter 2025 earnings released: EPS: €0.40 (vs €0.97 in 3Q 2024) Third quarter 2025 results: EPS: €0.40 (down from €0.97 in 3Q 2024). Revenue: €316.0m (down 9.9% from 3Q 2024). Net income: €9.80m (down 59% from 3Q 2024). Profit margin: 3.1% (down from 6.8% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. 공시 • Jul 04
Stabilus SE Announces Chief Financial Officer Changes Stabilus SE announced that it has appointed a new chief financial officer (CFO). Stabilus said that its supervisory board has appointed Andreas Jaeger to the role, effective November 1. He succeeds Stefan Bauerreis, who left the company at his own request in February. Until then, chief executive officer Michael Büchsner will continue to handle the financial duties, supported by Wend von Wietersheim. The company stated that Jaeger, a Swiss national, brings over two decades of financial leadership in industrial firms. Since 2021, he has served as CFO and executive board member of Forbo Holding. In early 2025, he also assumed interim chief executive duties. Prior to Forbo, Jaeger held senior finance roles at Geberit and Holcim. 공시 • Jun 06
Stabilus SE Reaffirms Earnings Guidance for the Year 2030 Stabilus SE reaffirmed earnings guidance for the year 2030. The company reaffirmed its 2030 target of increasing revenue to up to €2.0 billion. New Risk • Apr 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.1% average weekly change). Minor Risks High level of debt (90% net debt to equity). 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 (5.5% net profit margin). Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €25.10, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Machinery industry in Europe. Total loss to shareholders of 39% over the past three years. 공시 • Feb 22
Stabilus SE Announces CFO Changes The CFO of Stabilus SE, Stefan Bauerreis, has requested the Supervisory Board to approve the early termination of his contract for personal reasons. The Supervisory Board has complied with this request, and Stefan Bauerreis will leave the company at the end of the month. CEO Dr. Michael Büchsner will assume his responsibilities on an interim basis. A structured search process has been initiated to fill the position of Chief Financial Officer. Until a permanent CFO is appointed, the Management Board will be supported on an interim basis by Dr. Wend v. Wietersheim, an experienced financial manager. Dr. v. Wietersheim began his professional career in 1993 at the Mannesmann Group. He subsequently held various management positions at international companies, mainly in the fields of mechanical and plant engineering and in the automotive industry. In his previous positions, he acted as Chief Financial Officer and was responsible for IT, HR, Legal, the operational supply chain management and post-merger integration. Dr. v. Wietersheim has been working as interim managing director and board member for nearly 15 years and has been active in these functions at various companies in Germany and abroad as Chief Financial Officer, Chief Transformation Officer and Chief Operating Officer. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €32.40, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 15x in the Machinery industry in Europe. Total loss to shareholders of 37% over the past three years. Upcoming Dividend • Jan 30
Upcoming dividend of €1.15 per share Eligible shareholders must have bought the stock before 06 February 2025. Payment date: 10 February 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Austrian dividend payers (5.8%). Lower than average of industry peers (4.6%). Reported Earnings • Jan 29
First quarter 2025 earnings released: EPS: €0.56 (vs €0.47 in 1Q 2024) First quarter 2025 results: EPS: €0.56 (up from €0.47 in 1Q 2024). Revenue: €326.0m (up 6.7% from 1Q 2024). Net income: €13.9m (up 20% from 1Q 2024). Profit margin: 4.2% (up from 3.8% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. 공시 • Jan 27
Stabilus SE Confirms Earnings Guidance for the Fiscal Year 2025 Stabilus SE confirmed earnings guidance for the fiscal year 2025. for the year, the company continues to expects revenue of €1.3 billion to €1.45 billion. Declared Dividend • Jan 10
Dividend of €1.15 announced Shareholders will receive a dividend of €1.15. Ex-date: 6th February 2025 Payment date: 10th February 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 11% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Dec 20
Stabilus SE, Annual General Meeting, Feb 05, 2025 Stabilus SE, Annual General Meeting, Feb 05, 2025, at 09:30 W. Europe Standard Time. Reported Earnings • Dec 14
Full year 2024 earnings released: EPS: €2.84 (vs €4.12 in FY 2023) Full year 2024 results: EPS: €2.84 (down from €4.12 in FY 2023). Revenue: €1.31b (up 7.5% from FY 2023). Net income: €70.2m (down 31% from FY 2023). Profit margin: 5.4% (down from 8.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Full year 2024 earnings released: EPS: €2.84 (vs €4.12 in FY 2023) Full year 2024 results: EPS: €2.84 (down from €4.12 in FY 2023). Revenue: €1.31b (up 7.5% from FY 2023). Net income: €72.0m (down 29% from FY 2023). Profit margin: 5.5% (down from 8.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Aug 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 5.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (5.8% average weekly change). 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 (6.0% net profit margin). Reported Earnings • Jul 31
Third quarter 2024 earnings released: EPS: €0.97 (vs €0.86 in 3Q 2023) Third quarter 2024 results: EPS: €0.97 (up from €0.86 in 3Q 2023). Revenue: €350.7m (up 14% from 3Q 2023). Net income: €23.9m (up 12% from 3Q 2023). Profit margin: 6.8% (down from 7.0% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. 공시 • Jun 14
Stabilus SE Provides Earnings Guidance for Fiscal Year 2024 Stabilus SE provided earnings guidance for fiscal year 2024. For the period, the company adjusts its forecast for the current fiscal year 2024 and now expects revenues in the range of €1.3 billion to €1.35 billion and an adjusted EBIT margin of 11.7% to 12.3%. According to current calculations, the company’s expectations are below its original forecast of €1.4 billion to €1.5 billion for revenues and 13% to 14% for the adjusted EBIT margin. Due to the challenging market environment, Stabilus had already specified its forecast to the lower end of the originally expected range for revenues and adjusted EBIT margin at the half-year stage. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €48.20, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Machinery industry in Europe. Total loss to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €89.40 per share. Reported Earnings • May 08
Second quarter 2024 earnings released: EPS: €0.71 (vs €1.71 in 2Q 2023) Second quarter 2024 results: EPS: €0.71 (down from €1.71 in 2Q 2023). Revenue: €313.5m (flat on 2Q 2023). Net income: €17.6m (down 59% from 2Q 2023). Profit margin: 5.6% (down from 14% in 2Q 2023). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. 공시 • Apr 02
Stabilus SE (XTRA:STM) acquired De-Sta-Co from Dover Corporation. Stabilus SE (XTRA:STM) entered into a definitive agreement to acquire De-Sta-Co from Dover Corporation for an enterprise value of approximately $680 million on October 11, 2023. The purchase price is subject to customary post-closing adjustments. De-Sta-Co generated revenue of $213 million in 2022. The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including receipt of regulatory approvals and the finalization of certain local transactions. The transaction is expected to close by the end of February 2024. As of February 9, 2024, is expected to close in the first quarter of 2024. As on March 5, 2024, all necessary regulatory approvals has received and Stabilus expects the deal to be completed by the end of March.Stabilus SE (XTRA:STM) completed the acquisition of De-Sta-Co from Dover Corporation on March 31, 2024. New Risk • Feb 09
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 Austrian stocks, typically moving 3.8% 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 (3.8% average weekly change). Upcoming Dividend • Feb 01
Upcoming dividend of €1.75 per share at 2.7% yield Eligible shareholders must have bought the stock before 08 February 2024. Payment date: 12 February 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Austrian dividend payers (5.0%). In line with average of industry peers (2.8%). Reported Earnings • Jan 30
First quarter 2024 earnings released: EPS: €0.47 (vs €0.61 in 1Q 2023) First quarter 2024 results: EPS: €0.47 (down from €0.61 in 1Q 2023). Revenue: €305.4m (up 5.1% from 1Q 2023). Net income: €11.5m (down 23% from 1Q 2023). Profit margin: 3.8% (down from 5.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 공시 • Jan 30
Stabilus SE Provides Earnings Guidance for the Year 2024 Stabilus SE provided earnings guidance for the year 2024. The guidance for the year remains unchanged. It's €1.4 billion to €1.5 billion in terms of revenues, and 13% to 14% EBIT margin. Reported Earnings • Dec 18
Full year 2023 earnings released: EPS: €4.12 (vs €4.17 in FY 2022) Full year 2023 results: EPS: €4.12 (down from €4.17 in FY 2022). Revenue: €1.22b (up 8.9% from FY 2022). Net income: €101.8m (down 1.1% from FY 2022). Profit margin: 8.4% (down from 9.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Machinery 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 remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 13
Full year 2023 earnings released: EPS: €4.12 (vs €4.17 in FY 2022) Full year 2023 results: EPS: €4.12. Revenue: €1.22b (up 8.9% from FY 2022). Net income: €103.3m (flat on FY 2022). Profit margin: 8.5% (down from 9.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Machinery industry in Europe. 공시 • Oct 13
Stabilus SE (XTRA:STM) entered into a definitive agreement to acquire DE-STA-CO from Dover Corporation for an enterprise value of $680 million. Stabilus SE (XTRA:STM) entered into a definitive agreement to acquire De-Sta-Co from Dover Corporation for an enterprise value of $680 million on October 11, 2023. The deal is subject to customary post-closing adjustments and generated revenue of $213 million in 2022. The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including receipt of regulatory approvals and the finalization of certain local transactions. Reported Earnings • Jul 31
Third quarter 2023 earnings released: EPS: €0.86 (vs €0.97 in 3Q 2022) Third quarter 2023 results: EPS: €0.86 (down from €0.97 in 3Q 2022). Revenue: €306.5m (up 13% from 3Q 2022). Net income: €21.4m (down 11% from 3Q 2022). Profit margin: 7.0% (down from 8.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 03
Second quarter 2023 earnings released: EPS: €1.71 (vs €1.05 in 2Q 2022) Second quarter 2023 results: EPS: €1.71 (up from €1.05 in 2Q 2022). Revenue: €310.6m (up 11% from 2Q 2022). Net income: €42.4m (up 63% from 2Q 2022). Profit margin: 14% (up from 9.2% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 09
Upcoming dividend of €1.75 per share at 2.8% yield Eligible shareholders must have bought the stock before 16 February 2023. Payment date: 20 February 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Austrian dividend payers (5.1%). Higher than average of industry peers (2.4%). Reported Earnings • Jan 31
First quarter 2023 earnings released: EPS: €0.61 (vs €0.71 in 1Q 2022) First quarter 2023 results: EPS: €0.61 (down from €0.71 in 1Q 2022). Revenue: €290.7m (up 19% from 1Q 2022). Net income: €15.1m (down 14% from 1Q 2022). Profit margin: 5.2% (down from 7.2% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 14
Now 21% undervalued Over the last 90 days, the stock is up 16%. The fair value is estimated to be €80.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings is also forecast to grow by 6.3% per annum over the same time period. Reported Earnings • Nov 16
Full year 2022 earnings released: EPS: €4.17 (vs €2.97 in FY 2021) Full year 2022 results: EPS: €4.17 (up from €2.97 in FY 2021). Revenue: €1.12b (up 19% from FY 2021). Net income: €104.3m (up 42% from FY 2021). Profit margin: 9.3% (up from 7.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 12
Full year 2022 earnings released: EPS: €4.17 (vs €2.97 in FY 2021) Full year 2022 results: EPS: €4.17 (up from €2.97 in FY 2021). Revenue: €1.12b (up 19% from FY 2021). Net income: €104.3m (up 42% from FY 2021). Profit margin: 9.3% (up from 7.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 17% share price gain to €51.55, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Machinery industry in Europe. Total returns to shareholders of 23% over the past three years. Reported Earnings • Aug 02
Third quarter 2022 earnings released: EPS: €0.97 (vs €0.64 in 3Q 2021) Third quarter 2022 results: EPS: €0.97 (up from €0.64 in 3Q 2021). Revenue: €271.1m (up 19% from 3Q 2021). Net income: €24.0m (up 52% from 3Q 2021). Profit margin: 8.9% (up from 6.9% in 3Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.6%, compared to a 13% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • May 03
Second quarter 2022 earnings released: EPS: €1.05 (vs €1.05 in 2Q 2021) Second quarter 2022 results: EPS: €1.05 (vs €1.05 in 2Q 2021). Revenue: €281.2m (up 15% from 2Q 2021). Net income: €25.9m (flat on 2Q 2021). Profit margin: 9.2% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.9%, compared to a 17% growth forecast for the industry in Austria. 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 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Feb 10
Upcoming dividend of €1.25 per share Eligible shareholders must have bought the stock before 17 February 2022. Payment date: 21 February 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Austrian dividend payers (3.5%). Higher than average of industry peers (1.9%). Reported Earnings • Feb 03
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: EPS: €0.71 (up from €0.58 in 1Q 2021). Revenue: €243.7m (up 3.5% from 1Q 2021). Net income: €17.6m (up 23% from 1Q 2021). Profit margin: 7.2% (up from 6.1% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 8.2%, compared to a 15% growth forecast for the industry in Austria. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Nov 17
Full year 2021 earnings released: EPS €2.97 (vs €1.27 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: €937.7m (up 14% from FY 2020). Net income: €73.8m (up 135% from FY 2020). Profit margin: 7.9% (up from 3.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 03
Third quarter 2021 earnings released: EPS €0.64 (vs €0.59 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €228.7m (up 56% from 3Q 2020). Net income: €15.8m (up €30.4m from 3Q 2020). Profit margin: 6.9% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. 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 1% per year, which means it has not declined as severely as earnings. Reported Earnings • May 05
Second quarter 2021 earnings released: EPS €1.05 (vs €0.73 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €244.0m (up 10% from 2Q 2020). Net income: €26.0m (up 44% from 2Q 2020). Profit margin: 11% (up from 8.1% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 04
First quarter 2021 earnings released: EPS €0.58 (vs €0.66 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: €235.4m (up 1.8% from 1Q 2020). Net income: €14.3m (down 12% from 1Q 2020). Profit margin: 6.1% (down from 7.0% in 1Q 2020). 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 6% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 04
Revenue beats expectations Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to grow 13%, compared to a 5.1% growth forecast for the Machinery industry in Austria. Is New 90 Day High Low • Jan 20
New 90-day high: €61.90 The company is up 19% from its price of €51.90 on 22 October 2020. The Austrian market is up 35% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Machinery industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €78.19 per share. Reported Earnings • Dec 13
Full year 2020 earnings released: EPS €1.27 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €822.1m (down 14% from FY 2019). Net income: €31.4m (down 61% from FY 2019). Profit margin: 3.8% (down from 8.5% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Dec 13
Revenue beats expectations Revenue exceeded analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 10%, compared to a 3.9% growth forecast for the Machinery industry in Austria. Is New 90 Day High Low • Dec 10
New 90-day high: €61.20 The company is up 30% from its price of €47.24 on 10 September 2020. The Austrian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €56.07 per share. Analyst Estimate Surprise Post Earnings • Nov 19
Revenue beats expectations Revenue exceeded analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 10%, compared to a 3.0% growth forecast for the Machinery industry in Austria. Analyst Estimate Surprise Post Earnings • Nov 16
Revenue beats expectations Revenue exceeded analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 10%, compared to a 3.0% growth forecast for the Machinery industry in Austria. Reported Earnings • Nov 15
Full year 2020 earnings released: EPS €1.27 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €822.1m (down 14% from FY 2019). Net income: €30.0m (down 63% from FY 2019). Profit margin: 3.6% (down from 8.5% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 11
New 90-day high: €56.95 The company is up 20% from its price of €47.30 on 12 August 2020. The Austrian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €58.82 per share. Is New 90 Day High Low • Sep 19
New 90-day high: €48.52 The company is up 5.0% from its price of €46.36 on 19 June 2020. The Austrian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €53.30 per share. 
