공고 • May 07
Give AG, Annual General Meeting, Jun 16, 2026 Give AG, Annual General Meeting, Jun 16, 2026, at 11:00 W. Europe Standard Time. 공고 • Apr 17
Give AG, Annual General Meeting, Jun 03, 2025 Give AG, Annual General Meeting, Jun 03, 2025, at 11:00 W. Europe Standard Time. 공고 • Jun 08
Muehlhan AG, Annual General Meeting, Jul 16, 2024 Muehlhan AG, Annual General Meeting, Jul 16, 2024, at 11:00 W. Europe Standard Time. 공고 • Dec 15
Muehlhan AG Provides Correction to the Group Forecast for Financial Year 2023 Muehlhan AG provided Correction to the Group forecast for financial year 2023. For the period, the company announced that the Group forecast published on October 13, 2023, revenues of €10 million to €15 million and an EBIT of between €-3.5 million and €-4.0 million were forecast for the 2023 financial year. The company continues to expect revenues of €10 million to €15 million, but predicts EBIT will be between €-4.0 million and €-4.5 million. The main reason for the renewed forecast revision is expenses for the decision to discontinue all activities in Oman. New Risk • Oct 20
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 German stocks, typically moving 6.2% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 286% Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (€28.1m market cap, or US$29.8m). New Risk • Aug 02
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.9% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 8x cash flows per share. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (€33.9m market cap, or US$37.0m). New Risk • Jun 08
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 German stocks, typically moving 11% 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 8x cash flows per share. Minor Risk Market cap is less than US$100m (€33.5m market cap, or US$36.1m). Upcoming Dividend • May 31
Upcoming dividend of €1.00 per share at 39% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 09 June 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 39%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.7%). Reported Earnings • Apr 14
Full year 2022 earnings released: EPS: €0.18 (vs €0.43 in FY 2021) Full year 2022 results: EPS: €0.18 (down from €0.43 in FY 2021). Revenue: €288.3m (down 3.4% from FY 2021). Net income: €3.56m (down 57% from FY 2021). Profit margin: 1.2% (down from 2.8% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 2.3% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be €3.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 28%. Revenue is forecast to decline by 3.3% in 2 years. Earnings is forecast to decline by 55% in the next 2 years. Price Target Changed • Nov 16
Price target decreased to €4.00 Down from €5.10, the current price target is provided by 1 analyst. New target price is 52% above last closing price of €2.64. Stock is down 27% over the past year. The company is forecast to post earnings per share of €0.24 for next year compared to €0.43 last year. Valuation Update With 7 Day Price Move • May 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €3.84, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 62% over the past three years. Upcoming Dividend • May 18
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 25 May 2022. Payment date: 30 May 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 17%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (3.5%). Reported Earnings • May 01
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: €0.01 loss per share (up from €0.05 loss in 1Q 2021). Revenue: €52.2m (down 14% from 1Q 2021). Net loss: €141.0k (loss narrowed 86% from 1Q 2021). Revenue exceeded analyst estimates by 26%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is expected to shrink by 13% compared to a 5.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target increased to €5.10 Up from €4.40, the current price target is provided by 1 analyst. New target price is 18% above last closing price of €4.34. Stock is up 62% over the past year. The company is forecast to post earnings per share of €0.12 for next year compared to €0.43 last year. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improved over the past week After last week's 15% share price gain to €4.80, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 86% over the past three years. Reported Earnings • Apr 03
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: €0.43 (up from €0.016 in FY 2020). Revenue: €298.5m (up 15% from FY 2020). Net income: €8.27m (up €7.97m from FY 2020). Profit margin: 2.8% (up from 0.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 26%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 23% compared to a 5.8% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improved over the past week After last week's 15% share price gain to €3.88, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €3.22, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Construction industry in Europe. Total returns to shareholders of 16% over the past three years. Reported Earnings • Aug 03
First half 2021 earnings released: EPS €0.056 (vs €0.041 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €143.5m (up 9.4% from 1H 2020). Net income: €1.09m (up €1.88m from 1H 2020). Profit margin: 0.8% (up from net loss in 1H 2020). The move to profitability 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 increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • May 12
Upcoming dividend of €0.12 per share Eligible shareholders must have bought the stock before 19 May 2021. Payment date: 21 May 2021. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.8%). Reported Earnings • Apr 04
Full year 2020 earnings released: EPS €0.02 (vs €0.39 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €260.4m (down 12% from FY 2019). Net income: €305.0k (down 96% from FY 2019). Profit margin: 0.1% (down from 2.6% 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 7% per year whereas the company’s share price has fallen by 4% per year. Is New 90 Day High Low • Nov 03
New 90-day low: €2.26 The company is down 4.0% from its price of €2.36 on 04 August 2020. The German market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 8.0% over the same period. Price Target Changed • Nov 01
Price target raised to €4.40 Up from €3.65, the current price target is provided by 1 analyst. The new target price is 76% above the current share price of €2.50. As of last close, the stock is down 4.6% over the past year.