Declared Dividend • May 25
Dividend of €4.00 announced Dividend of €4.00 is the same as last year. Ex-date: 26th May 2026 Payment date: 28th May 2026 Dividend yield will be 2.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 27% to shift the payout ratio to a potentially unsustainable range, which is more than the 17% EPS decline seen over the last 5 years. New Risk • Mar 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 2025. 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. Earnings have declined by 7.4% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (€57.0m market cap, or US$65.1m). Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 35% After last week's 35% share price decline to €150, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 18x in the Luxury industry in Europe. Total loss to shareholders of 23% over the past three years. New Risk • Mar 05
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.0% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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. Earnings have declined by 7.4% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (€69.0m market cap, or US$80.1m). Declared Dividend • May 24
Dividend of €4.00 announced Shareholders will receive a dividend of €4.00. Ex-date: 26th May 2025 Payment date: 28th May 2025 Dividend yield will be 1.4%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 45%. Cash payout ratio: 32%. 공고 • Apr 24
Linz Textil Holding AG, Annual General Meeting, May 22, 2025 Linz Textil Holding AG, Annual General Meeting, May 22, 2025. New Risk • Mar 16
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. Earnings have declined by 24% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Dividend is not well covered by cash flows (125% cash payout ratio). Large one-off items impacting financial results. Market cap is less than US$100m (€84.0m market cap, or US$91.4m). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €252, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 15x in the Luxury industry in Europe. Total returns to shareholders of 5.1% over the past three years. Declared Dividend • May 26
Dividend of €21.00 announced Shareholders will receive a dividend of €21.00. Ex-date: 27th May 2024 Payment date: 29th May 2024 Dividend yield will be 11%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (26% earnings payout ratio) and cash flows (80% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 1.9% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,153% 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 Risks Shares are highly illiquid. Earnings have declined by 24% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (€54.0m market cap, or US$58.3m). Reported Earnings • May 03
Full year 2023 earnings released Full year 2023 results: Revenue: €87.2m (down 15% from FY 2022). Net income: €4.58m (up 41% from FY 2022). Profit margin: 5.2% (up from 3.2% in FY 2022). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €160, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 14x in the Luxury industry in Europe. Total loss to shareholders of 19% over the past three years. New Risk • Jun 13
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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. Earnings have declined by 1.5% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.4% net profit margin). Market cap is less than US$100m (€66.0m market cap, or US$71.0m). Reported Earnings • Aug 25
First half 2022 earnings released: EPS: €5.85 (vs €8.11 in 1H 2021) First half 2022 results: EPS: €5.85 (down from €8.11 in 1H 2021). Revenue: €52.4m (up 14% from 1H 2021). Net income: €1.76m (down 28% from 1H 2021). Profit margin: 3.3% (down from 5.3% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 52% 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. 공고 • Jul 29
Programming factory GmbH acquired the 90% stake in Infrasoft Datenservice Gesellschaft M.B.H. Programming factory GmbH acquired the 90% stake in Infrasoft Datenservice Gesellschaft M.B.H. on July 28, 2022.
Programming factory GmbH completed the acquisition of 90% stake in Infrasoft Datenservice Gesellschaft M.B.H. on July 28, 2022. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 23% share price gain to €270, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 16x in the Luxury industry in Europe. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorated over the past week After last week's 21% share price decline to €220, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 16x in the Luxury industry in Europe. Total loss to shareholders of 1.3% over the past three years. Upcoming Dividend • May 13
Upcoming dividend of €28.00 per share Eligible shareholders must have bought the stock before 20 May 2022. Payment date: 24 May 2022. Trailing yield: 1.3%. Lower than top quartile of Austrian dividend payers (4.5%). Lower than average of industry peers (1.7%).