View ValuationBanca Sistema 향후 성장Future 기준 점검 1/6Banca Sistema 의 수익은 연간 7.4% 감소할 것으로 예상되는 반면, 연간 수익은 8% 로 증가할 것으로 예상됩니다. EPS는 연간 33.4% 만큼 쇠퇴할 것으로 예상됩니다. 자기자본이익률은 3년 후 7.7% 로 예상됩니다.핵심 정보-7.4%이익 성장률-33.40%EPS 성장률Banks 이익 성장8.9%매출 성장률8.0%향후 자기자본이익률7.75%애널리스트 커버리지Low마지막 업데이트31 Jul 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesReported Earnings • Aug 09Second quarter 2026 earnings releasedSecond quarter 2026 results: Revenue: €10.3m (down 61% from 2Q 2025). Net loss: €1.34m (down 145% from profit in 2Q 2025). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in Europe.New Risk • Jul 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.3% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 2.3% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (15% net profit margin).Board Change • Jun 11Less than half of directors are independentThere are 11 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 11 new directors. No experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Director Luitgard Spogler is the most experienced director on the board, commencing their role in 2015. Independent Vice Chair Gioia Ghezzi was the last independent director to join the board, commencing their role in 2026. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.공고 • Jun 30+ 1 more updateBanca CF+ S.p.A. proposed to acquire Banca Sistema S.p.A. (BIT:BST) from Fondazione Banco di Sicilia, Società di Gestione delle Partecipazioni in Banca Sistema S.r.l., Garbi Fin S.R.L., Fondazione Cassa di Risparmio di Cuneo and Fondazione Cassa di Risparmio di Alessandria S.P.A. for approximately €140 million.Banca CF+ S.p.A. proposed to acquire Banca Sistema S.p.A. (BIT:BST) from Fondazione Banco di Sicilia, Società di Gestione delle Partecipazioni in Banca Sistema S.r.l., Garbi Fin S.R.L., Fondazione Cassa di Risparmio di Cuneo and Fondazione Cassa di Risparmio di Alessandria S.P.A. for approximately €140 million on June 29, 2025. Banca CF+ S.p.A will acquire 80.4 million shares. The consideration consists of €1.382 in cash per share and €0.418 to be paid within 6 months after the completion of the Offer and the Payment Date of the Initial Consideration through the allocation of no. 21 shares of Kruso Kapital S.p.A., a company controlled by Banca Sistema, admitted to trading on the multilateral trading facility Euronext Growth Milan, organized and managed by Borsa Italiana S.p.A., subject to a split of KK shares on the basis of a 1:98 ratio for each Share tendered to the Offer. Gianluca Garbi, SGBS S.r.l. and Garbifin S.r.l. will be tendering a total of 19,995,371 ordinary shares, representing approximately 24.86% of the share capital of Banca Sistema. Following the completion of the Offer and based on data as of December 31, 2024, the new banking group will have total assets of more than €6.5 billion and loans to customers of more than €4.3 billion. The transaction will be financed through the use of its own financial resources. The period for the acceptance of the Tender Period which shall commence after the publication of the Offer Document, in accordance with applicable laws- will be agreed upon with Borsa Italiana in compliance with the terms set forth in Article 40 of the Issuers’ Regulation and shall have a duration ranging from a minimum of 15 to a maximum of 40 trading days, subject to any extensions or any Reopening of the Terms. The transaction is subject to approval by regulatory board / committee, minimum tender and subject to antitrust regulations and is not aimed at delisting of the Shares of Banca Sistema S.p.A. The deal has been approved by the board of directors of Banca CF+ S.p.A. UniCredit S.p.A. acted as financial advisor to Banca CF+ S.p.A. Chiomenti Studio Legale acted as legal advisor to Banca CF+ S.p.A.공고 • Jan 30Banca Sistema S.p.A. to Report Fiscal Year 2024 Final Results on Mar 14, 2025Banca Sistema S.p.A. announced that they will report fiscal year 2024 final results on Mar 14, 2025공고 • Jan 29+ 3 more updatesBanca Sistema S.p.A. to Report Nine Months, 2025 Results on Nov 07, 2025Banca Sistema S.p.A. announced that they will report nine months, 2025 results on Nov 07, 2025Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €29.1m (up 38% from 3Q 2023). Net income: €6.35m (up 36% from 3Q 2023). Profit margin: 22% (in line with 3Q 2023). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe.Reported Earnings • Aug 02Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €25.5m (up 14% from 2Q 2023). Net income: €1.82m (down 39% from 2Q 2023). Profit margin: 7.1% (down from 13% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Europe.New Risk • Jul 19New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% 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: 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 (6.9% average weekly change).New Risk • Jun 06New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% 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 (7.0% average weekly change).Valuation Update With 7 Day Price Move • May 17Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €1.59, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 1.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.57 per share.Reported Earnings • May 13First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: €25.4m (up 4.9% from 1Q 2023). Net income: €4.14m (up 11% from 1Q 2023). Profit margin: 16% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe.Upcoming Dividend • Apr 22Upcoming dividend of €0.065 per shareEligible shareholders must have bought the stock before 29 April 2024. Payment date: 02 May 2024. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.5%).Reported Earnings • Feb 13Full year 2023 earnings releasedFull year 2023 results: Revenue: €98.8m (up 1.4% from FY 2022). Net income: €16.5m (down 25% from FY 2022). Profit margin: 17% (down from 23% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Banks industry in Europe.New Risk • Feb 13New major risk - Revenue and earnings growthEarnings have declined by 8.8% 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 Risk Earnings have declined by 8.8% 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. Profit margins are more than 30% lower than last year (17% net profit margin).공고 • Jan 18+ 4 more updatesBanca Sistema S.p.A. to Report Nine Months, 2024 Results on Nov 08, 2024Banca Sistema S.p.A. announced that they will report nine months, 2024 results on Nov 08, 2024공고 • Jan 17Banca Sistema S.p.A., Annual General Meeting, Apr 24, 2024Banca Sistema S.p.A., Annual General Meeting, Apr 24, 2024. Agenda: To consider the financial statements as at 31 December 2023.Reported Earnings • Nov 15Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: €21.1m (down 16% from 3Q 2022). Net income: €4.68m (down 23% from 3Q 2022). Profit margin: 22% (down from 24% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Banks industry in Europe.Reported Earnings • Jul 31Second quarter 2023 earnings released: EPS: €0.047 (vs €0.092 in 2Q 2022)Second quarter 2023 results: EPS: €0.047 (down from €0.092 in 2Q 2022). Revenue: €24.1m (down 12% from 2Q 2022). Net income: €3.74m (down 49% from 2Q 2022). Profit margin: 16% (down from 27% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 12% per year.Reported Earnings • May 14First quarter 2023 earnings releasedFirst quarter 2023 results: EPS: €0.046. Revenue: €24.3m (up 8.6% from 1Q 2022). Net income: €3.72m (down 16% from 1Q 2022). Profit margin: 15% (down from 20% in 1Q 2022). 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 3.3% growth forecast for the Banks industry in Europe.공고 • May 11Banca Sistema S.p.A. to Report Nine Months, 2023 Results on Nov 10, 2023Banca Sistema S.p.A. announced that they will report nine months, 2023 results on Nov 10, 2023Board Change • May 10High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Standing Auditor Luigi Ruggiero was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Upcoming Dividend • May 01Upcoming dividend of €0.065 per share at 4.8% yieldEligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 4.8%. Within top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.1%).Reported Earnings • Feb 14Full year 2022 earnings releasedFull year 2022 results: Revenue: €97.4m (flat on FY 2021). Net income: €22.0m (down 5.4% from FY 2021). Profit margin: 23% (down from 24% in FY 2021). Non-performing loans: 9.99% (down from 11.51% in FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in Europe.Reported Earnings • Nov 16Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.07. Revenue: €25.0m (up 6.3% from 3Q 2021). Net income: €5.63m (down 11% from 3Q 2021). Profit margin: 23% (down from 27% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Banks industry in Europe.Board Change • Nov 16High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Pier Taverna was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Board Change • Sep 02High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Pier Taverna was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Jul 31Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €27.1m (up 32% from 2Q 2021). Net income: €7.82m (up 94% from 2Q 2021). Profit margin: 29% (up from 20% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 12%, compared to a 22% growth forecast for the industry in Germany.Reported Earnings • May 13First quarter 2022 earnings releasedFirst quarter 2022 results: EPS: €0.055. Revenue: €22.4m (up 2.2% from 1Q 2021). Net income: €4.41m (down 1.2% from 1Q 2021). Profit margin: 20% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 15%, compared to a 15% growth forecast for the industry in Germany.Reported Earnings • May 13First quarter 2022 earnings releasedFirst quarter 2022 results: EPS: €0.055. Revenue: €22.4m (up 2.2% from 1Q 2021). Net income: €4.41m (down 1.2% from 1Q 2021). Profit margin: 20% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 15%, compared to a 15% growth forecast for the industry in Germany.Upcoming Dividend • Apr 27Upcoming dividend of €0.072 per shareEligible shareholders must have bought the stock before 02 May 2022. Payment date: 04 May 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of German dividend payers (4.0%). Lower than average of industry peers (6.5%).Reported Earnings • Feb 16Full year 2021 earnings: Revenues miss analyst expectationsFull year 2021 results: Revenue: €97.3m (up 6.3% from FY 2020). Net income: €23.3m (down 9.7% from FY 2020). Profit margin: 24% (down from 28% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.0%. Over the next year, revenue is forecast to grow 14%, compared to a 12% growth forecast for the banks industry in Germany.공고 • Feb 03+ 3 more updatesBanca Sistema S.p.A. to Report Fiscal Year 2021 Final Results on Apr 28, 2022Banca Sistema S.p.A. announced that they will report fiscal year 2021 final results on Apr 28, 2022Reported Earnings • Nov 04Third quarter 2021 earnings released: EPS €0.078The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €23.5m (down 2.4% from 3Q 2020). Net income: €6.29m (down 15% from 3Q 2020). Profit margin: 27% (down from 31% in 3Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.Upcoming Dividend • Nov 01Upcoming dividend of €0.17 per shareEligible shareholders must have bought the stock before 08 November 2021. Payment date: 10 November 2021. Trailing yield: 3.5%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.9%).Reported Earnings • Aug 05Second quarter 2021 earnings releasedThe company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €20.5m (down 7.6% from 2Q 2020). Net income: €3.94m (down 48% from 2Q 2020). Profit margin: 19% (down from 34% in 2Q 2020). The decrease in margin was primarily driven by higher expenses.Is New 90 Day High Low • Mar 03New 90-day high: €1.95The company is up 16% from its price of €1.68 on 03 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.78 per share.Analyst Estimate Surprise Post Earnings • Feb 13Revenue beats expectationsRevenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 23%, compared to a 25% growth forecast for the Banks industry in Germany.Reported Earnings • Feb 13Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €91.6m (flat on FY 2019). Net income: €25.8m (down 12% from FY 2019). Profit margin: 28% (down from 32% in FY 2019).Is New 90 Day High Low • Feb 10New 90-day high: €1.80The company is up 12% from its price of €1.60 on 11 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Banks industry, which is also up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.03 per share.공고 • Feb 07+ 3 more updatesBanca Sistema S.p.A. to Report Nine Months, 2021 Results on Oct 29, 2021Banca Sistema S.p.A. announced that they will report nine months, 2021 results on Oct 29, 2021공고 • Feb 06Banca Sistema S.p.A., Annual General Meeting, Apr 30, 2021Banca Sistema S.p.A., Annual General Meeting, Apr 30, 2021. Agenda: To consider the approval of the financial statements as at 31 December 2020.Analyst Estimate Surprise Post Earnings • Nov 18Revenue misses expectationsRevenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 22%, compared to a 20% growth forecast for the Banks industry in Germany.Is New 90 Day High Low • Oct 24New 90-day low: €1.57The company is down 13% from its price of €1.79 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.28 per share.이익 및 매출 성장 예측DB:B2S - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202818635N/AN/A212/31/202717626N/AN/A212/31/202617272N/AN/A26/30/202614621N/AN/AN/A3/31/202615223-45-37N/A12/31/202516129-62N/A9/30/202512931161168N/A6/30/202512531-103-97N/A3/31/202512529-65-59N/A12/31/202412025-142-136N/A9/30/202411117-39-38N/A6/30/20241031598100N/A3/31/202410017198200N/A12/31/20239917129131N/A9/30/202390161215N/A6/30/20239418107111N/A3/31/20239921-160-158N/A12/31/20229722-42-39N/A9/30/202210626125127N/A6/30/2022104263639N/A3/31/20229823134136N/A12/31/202197238395N/A9/30/20219221-55-44N/A6/30/20219222-394N/A3/31/20219426851N/A12/31/202092261348N/A9/30/20209228841N/A6/30/2020953122N/A3/31/20209530N/A11N/A12/31/20199229N/A10N/A9/30/20199129N/A11N/A6/30/20198627N/A12N/A3/31/20198427N/A12N/A12/31/20188428N/A13N/A9/30/20187824N/A12N/A6/30/20188128N/A11N/A3/31/20187927N/A8N/A12/31/20177727N/A8N/A9/30/20177726N/A-154N/A6/30/20176820N/A-163N/A3/31/20177024N/A487N/A12/31/20167225N/A640N/A9/30/20167126N/A785N/A6/30/20166925N/A924N/A3/31/20166617N/A-13N/A12/31/20156718N/A-759N/A9/30/20156418N/A-796N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: B2S 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -7.4%).수익 vs 시장: B2S 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -7.4%).고성장 수익: B2S 의 수익은 향후 3년간 감소할 것으로 예상됩니다.수익 대 시장: B2S 의 수익(연간 8%)이 German 시장(연간 6.7%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: B2S 의 수익(연간 8%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: B2S의 자본 수익률은 3년 후 7.7%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YBanks 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/08/10 20:32종가2026/08/10 00:00수익2026/06/30연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Banca Sistema S.p.A.는 7명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Gabriele VenturiBanca Akros S.p.A. (ESN)Fabrizio BernardiIntermonte SIM S.p.A.Lorenzo GiacomettiIntermonte SIM S.p.A.4명의 분석가 더 보기
Reported Earnings • Aug 09Second quarter 2026 earnings releasedSecond quarter 2026 results: Revenue: €10.3m (down 61% from 2Q 2025). Net loss: €1.34m (down 145% from profit in 2Q 2025). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in Europe.
New Risk • Jul 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 2.3% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 2.3% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (15% net profit margin).
Board Change • Jun 11Less than half of directors are independentThere are 11 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 11 new directors. No experienced directors. 1 highly experienced director. 3 independent directors (6 non-independent directors). Director Luitgard Spogler is the most experienced director on the board, commencing their role in 2015. Independent Vice Chair Gioia Ghezzi was the last independent director to join the board, commencing their role in 2026. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
공고 • Jun 30+ 1 more updateBanca CF+ S.p.A. proposed to acquire Banca Sistema S.p.A. (BIT:BST) from Fondazione Banco di Sicilia, Società di Gestione delle Partecipazioni in Banca Sistema S.r.l., Garbi Fin S.R.L., Fondazione Cassa di Risparmio di Cuneo and Fondazione Cassa di Risparmio di Alessandria S.P.A. for approximately €140 million.Banca CF+ S.p.A. proposed to acquire Banca Sistema S.p.A. (BIT:BST) from Fondazione Banco di Sicilia, Società di Gestione delle Partecipazioni in Banca Sistema S.r.l., Garbi Fin S.R.L., Fondazione Cassa di Risparmio di Cuneo and Fondazione Cassa di Risparmio di Alessandria S.P.A. for approximately €140 million on June 29, 2025. Banca CF+ S.p.A will acquire 80.4 million shares. The consideration consists of €1.382 in cash per share and €0.418 to be paid within 6 months after the completion of the Offer and the Payment Date of the Initial Consideration through the allocation of no. 21 shares of Kruso Kapital S.p.A., a company controlled by Banca Sistema, admitted to trading on the multilateral trading facility Euronext Growth Milan, organized and managed by Borsa Italiana S.p.A., subject to a split of KK shares on the basis of a 1:98 ratio for each Share tendered to the Offer. Gianluca Garbi, SGBS S.r.l. and Garbifin S.r.l. will be tendering a total of 19,995,371 ordinary shares, representing approximately 24.86% of the share capital of Banca Sistema. Following the completion of the Offer and based on data as of December 31, 2024, the new banking group will have total assets of more than €6.5 billion and loans to customers of more than €4.3 billion. The transaction will be financed through the use of its own financial resources. The period for the acceptance of the Tender Period which shall commence after the publication of the Offer Document, in accordance with applicable laws- will be agreed upon with Borsa Italiana in compliance with the terms set forth in Article 40 of the Issuers’ Regulation and shall have a duration ranging from a minimum of 15 to a maximum of 40 trading days, subject to any extensions or any Reopening of the Terms. The transaction is subject to approval by regulatory board / committee, minimum tender and subject to antitrust regulations and is not aimed at delisting of the Shares of Banca Sistema S.p.A. The deal has been approved by the board of directors of Banca CF+ S.p.A. UniCredit S.p.A. acted as financial advisor to Banca CF+ S.p.A. Chiomenti Studio Legale acted as legal advisor to Banca CF+ S.p.A.
공고 • Jan 30Banca Sistema S.p.A. to Report Fiscal Year 2024 Final Results on Mar 14, 2025Banca Sistema S.p.A. announced that they will report fiscal year 2024 final results on Mar 14, 2025
공고 • Jan 29+ 3 more updatesBanca Sistema S.p.A. to Report Nine Months, 2025 Results on Nov 07, 2025Banca Sistema S.p.A. announced that they will report nine months, 2025 results on Nov 07, 2025
Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €29.1m (up 38% from 3Q 2023). Net income: €6.35m (up 36% from 3Q 2023). Profit margin: 22% (in line with 3Q 2023). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe.
Reported Earnings • Aug 02Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €25.5m (up 14% from 2Q 2023). Net income: €1.82m (down 39% from 2Q 2023). Profit margin: 7.1% (down from 13% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Europe.
New Risk • Jul 19New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% 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: 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 (6.9% average weekly change).
New Risk • Jun 06New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% 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 (7.0% average weekly change).
Valuation Update With 7 Day Price Move • May 17Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €1.59, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 1.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.57 per share.
Reported Earnings • May 13First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: €25.4m (up 4.9% from 1Q 2023). Net income: €4.14m (up 11% from 1Q 2023). Profit margin: 16% (up from 15% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe.
Upcoming Dividend • Apr 22Upcoming dividend of €0.065 per shareEligible shareholders must have bought the stock before 29 April 2024. Payment date: 02 May 2024. Trailing yield: 4.7%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.5%).
Reported Earnings • Feb 13Full year 2023 earnings releasedFull year 2023 results: Revenue: €98.8m (up 1.4% from FY 2022). Net income: €16.5m (down 25% from FY 2022). Profit margin: 17% (down from 23% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 2.4% growth forecast for the Banks industry in Europe.
New Risk • Feb 13New major risk - Revenue and earnings growthEarnings have declined by 8.8% 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 Risk Earnings have declined by 8.8% 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. Profit margins are more than 30% lower than last year (17% net profit margin).
공고 • Jan 18+ 4 more updatesBanca Sistema S.p.A. to Report Nine Months, 2024 Results on Nov 08, 2024Banca Sistema S.p.A. announced that they will report nine months, 2024 results on Nov 08, 2024
공고 • Jan 17Banca Sistema S.p.A., Annual General Meeting, Apr 24, 2024Banca Sistema S.p.A., Annual General Meeting, Apr 24, 2024. Agenda: To consider the financial statements as at 31 December 2023.
Reported Earnings • Nov 15Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: €21.1m (down 16% from 3Q 2022). Net income: €4.68m (down 23% from 3Q 2022). Profit margin: 22% (down from 24% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Banks industry in Europe.
Reported Earnings • Jul 31Second quarter 2023 earnings released: EPS: €0.047 (vs €0.092 in 2Q 2022)Second quarter 2023 results: EPS: €0.047 (down from €0.092 in 2Q 2022). Revenue: €24.1m (down 12% from 2Q 2022). Net income: €3.74m (down 49% from 2Q 2022). Profit margin: 16% (down from 27% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 12% per year.
Reported Earnings • May 14First quarter 2023 earnings releasedFirst quarter 2023 results: EPS: €0.046. Revenue: €24.3m (up 8.6% from 1Q 2022). Net income: €3.72m (down 16% from 1Q 2022). Profit margin: 15% (down from 20% in 1Q 2022). 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 3.3% growth forecast for the Banks industry in Europe.
공고 • May 11Banca Sistema S.p.A. to Report Nine Months, 2023 Results on Nov 10, 2023Banca Sistema S.p.A. announced that they will report nine months, 2023 results on Nov 10, 2023
Board Change • May 10High number of new directorsThere are 6 new directors who have joined the board in the last 3 years. Standing Auditor Luigi Ruggiero was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • May 01Upcoming dividend of €0.065 per share at 4.8% yieldEligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 4.8%. Within top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.1%).
Reported Earnings • Feb 14Full year 2022 earnings releasedFull year 2022 results: Revenue: €97.4m (flat on FY 2021). Net income: €22.0m (down 5.4% from FY 2021). Profit margin: 23% (down from 24% in FY 2021). Non-performing loans: 9.99% (down from 11.51% in FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in Europe.
Reported Earnings • Nov 16Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.07. Revenue: €25.0m (up 6.3% from 3Q 2021). Net income: €5.63m (down 11% from 3Q 2021). Profit margin: 23% (down from 27% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Banks industry in Europe.
Board Change • Nov 16High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Pier Taverna was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Board Change • Sep 02High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Independent Director Pier Taverna was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Jul 31Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €27.1m (up 32% from 2Q 2021). Net income: €7.82m (up 94% from 2Q 2021). Profit margin: 29% (up from 20% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 12%, compared to a 22% growth forecast for the industry in Germany.
Reported Earnings • May 13First quarter 2022 earnings releasedFirst quarter 2022 results: EPS: €0.055. Revenue: €22.4m (up 2.2% from 1Q 2021). Net income: €4.41m (down 1.2% from 1Q 2021). Profit margin: 20% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 15%, compared to a 15% growth forecast for the industry in Germany.
Reported Earnings • May 13First quarter 2022 earnings releasedFirst quarter 2022 results: EPS: €0.055. Revenue: €22.4m (up 2.2% from 1Q 2021). Net income: €4.41m (down 1.2% from 1Q 2021). Profit margin: 20% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 15%, compared to a 15% growth forecast for the industry in Germany.
Upcoming Dividend • Apr 27Upcoming dividend of €0.072 per shareEligible shareholders must have bought the stock before 02 May 2022. Payment date: 04 May 2022. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of German dividend payers (4.0%). Lower than average of industry peers (6.5%).
Reported Earnings • Feb 16Full year 2021 earnings: Revenues miss analyst expectationsFull year 2021 results: Revenue: €97.3m (up 6.3% from FY 2020). Net income: €23.3m (down 9.7% from FY 2020). Profit margin: 24% (down from 28% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 7.0%. Over the next year, revenue is forecast to grow 14%, compared to a 12% growth forecast for the banks industry in Germany.
공고 • Feb 03+ 3 more updatesBanca Sistema S.p.A. to Report Fiscal Year 2021 Final Results on Apr 28, 2022Banca Sistema S.p.A. announced that they will report fiscal year 2021 final results on Apr 28, 2022
Reported Earnings • Nov 04Third quarter 2021 earnings released: EPS €0.078The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €23.5m (down 2.4% from 3Q 2020). Net income: €6.29m (down 15% from 3Q 2020). Profit margin: 27% (down from 31% in 3Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings.
Upcoming Dividend • Nov 01Upcoming dividend of €0.17 per shareEligible shareholders must have bought the stock before 08 November 2021. Payment date: 10 November 2021. Trailing yield: 3.5%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.9%).
Reported Earnings • Aug 05Second quarter 2021 earnings releasedThe company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €20.5m (down 7.6% from 2Q 2020). Net income: €3.94m (down 48% from 2Q 2020). Profit margin: 19% (down from 34% in 2Q 2020). The decrease in margin was primarily driven by higher expenses.
Is New 90 Day High Low • Mar 03New 90-day high: €1.95The company is up 16% from its price of €1.68 on 03 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.78 per share.
Analyst Estimate Surprise Post Earnings • Feb 13Revenue beats expectationsRevenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 23%, compared to a 25% growth forecast for the Banks industry in Germany.
Reported Earnings • Feb 13Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €91.6m (flat on FY 2019). Net income: €25.8m (down 12% from FY 2019). Profit margin: 28% (down from 32% in FY 2019).
Is New 90 Day High Low • Feb 10New 90-day high: €1.80The company is up 12% from its price of €1.60 on 11 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Banks industry, which is also up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.03 per share.
공고 • Feb 07+ 3 more updatesBanca Sistema S.p.A. to Report Nine Months, 2021 Results on Oct 29, 2021Banca Sistema S.p.A. announced that they will report nine months, 2021 results on Oct 29, 2021
공고 • Feb 06Banca Sistema S.p.A., Annual General Meeting, Apr 30, 2021Banca Sistema S.p.A., Annual General Meeting, Apr 30, 2021. Agenda: To consider the approval of the financial statements as at 31 December 2020.
Analyst Estimate Surprise Post Earnings • Nov 18Revenue misses expectationsRevenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 22%, compared to a 20% growth forecast for the Banks industry in Germany.
Is New 90 Day High Low • Oct 24New 90-day low: €1.57The company is down 13% from its price of €1.79 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.28 per share.