View ValuationVRG 향후 성장Future 기준 점검 2/6VRG (는) 각각 연간 10.6% 및 7.8% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 10.5% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 9.5% 로 예상됩니다.핵심 정보10.6%이익 성장률10.54%EPS 성장률Luxury 이익 성장13.2%매출 성장률7.8%향후 자기자본이익률9.50%애널리스트 커버리지Low마지막 업데이트08 May 2026최근 향후 성장 업데이트공시 • Jun 06VRG S.A. Provides Consolidated Revenue Guidance for the Month and Year to Date Ended May 2024VRG S.A. provided consolidated revenue guidance for the month and year to date ended May 2024. VRG's consolidated revenues in May likely amounted to PLN 121.6 million (EUR 28.24 million), down by 2.1% year on year.YTD revenues amounted to PLN 506.5 million (EUR 117.61 mln), up 1.3% year on year.공시 • Apr 04VRG Provides Revenues Guidance for the Month Ended March 2024VRG provided revenues guidance for the month ended March 2024. The company consolidated revenues in March likely amounted to PLN 95.1 million (EUR 22.1 million), up by 6.7 percent year on year.공시 • Apr 20VRG Provides Earnings Guidance for the Year 2021VRG provided earnings guidance for the year 2021. VRG aims to significantly improve its financial results in 2021 against last year.모든 업데이트 보기Recent updates공시 • Jan 21+ 3 more updatesVRG S.A. to Report Fiscal Year 2025 Final Results on Apr 24, 2026VRG S.A. announced that they will report fiscal year 2025 final results at 5:30 PM, Central European Standard Time on Apr 24, 2026공시 • Jan 15+ 3 more updatesVRG S.A. to Report Q3, 2025 Results on Nov 13, 2025VRG S.A. announced that they will report Q3, 2025 results on Nov 13, 2025Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: zł0.04 (vs zł0.004 in 3Q 2023)Third quarter 2024 results: EPS: zł0.04 (up from zł0.004 in 3Q 2023). Revenue: zł311.5m (up 4.8% from 3Q 2023). Net income: zł10.1m (up zł9.21m from 3Q 2023). Profit margin: 3.3% (up from 0.3% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Luxury 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 3% per year, which means it is significantly lagging earnings.Upcoming Dividend • Sep 12Upcoming dividend of zł0.09 per shareEligible shareholders must have bought the stock before 19 September 2024. Payment date: 16 December 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (0.8%).Reported Earnings • Aug 25Second quarter 2024 earnings released: EPS: zł0.12 (vs zł0.20 in 2Q 2023)Second quarter 2024 results: EPS: zł0.12 (down from zł0.20 in 2Q 2023). Revenue: zł340.8m (up 1.6% from 2Q 2023). Net income: zł28.2m (down 41% from 2Q 2023). Profit margin: 8.3% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury 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 4% per year, which means it is significantly lagging earnings growth.공시 • Jun 06VRG S.A. Provides Consolidated Revenue Guidance for the Month and Year to Date Ended May 2024VRG S.A. provided consolidated revenue guidance for the month and year to date ended May 2024. VRG's consolidated revenues in May likely amounted to PLN 121.6 million (EUR 28.24 million), down by 2.1% year on year.YTD revenues amounted to PLN 506.5 million (EUR 117.61 mln), up 1.3% year on year.공시 • May 31VRG S.A., Annual General Meeting, Jun 26, 2024VRG S.A., Annual General Meeting, Jun 26, 2024.Reported Earnings • May 22First quarter 2024 earnings released: EPS: zł0.01 (vs zł0.014 in 1Q 2023)First quarter 2024 results: EPS: zł0.01 (down from zł0.014 in 1Q 2023). Revenue: zł278.2m (up 4.2% from 1Q 2023). Net income: zł2.22m (down 31% from 1Q 2023). Profit margin: 0.8% (down from 1.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Declared Dividend • May 20Dividend of zł0.09 announcedShareholders will receive a dividend of zł0.09. Ex-date: 19th September 2024 Payment date: 16th December 2024 Dividend yield will be 12%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 1.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • May 19VRG Proposes Cash Dividend, Payable on December 16, 2024VRG announced its management board proposed to pay a dividend of PLN 0.09 (EUR 0.02) per share. An amount of PLN 21.1 million (EUR 4.9 million) from the capital reserve would be used for this purpose. The management board proposed to allocate the profit for 2023, amounting to PLN 28.2 million (EUR 6.6 million), to the reserve capital. Those entitled to the dividend will be the company's shareholders as at September 20, 2024 and the dividend would be paid on December 16, 2024. In 2023, VRG paid a dividend of PLN 0.2 (EUR 0.05) per share.New Risk • Apr 24New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.2% 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 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.New Risk • Apr 22New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.2% 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 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.공시 • Apr 04VRG Provides Revenues Guidance for the Month Ended March 2024VRG provided revenues guidance for the month ended March 2024. The company consolidated revenues in March likely amounted to PLN 95.1 million (EUR 22.1 million), up by 6.7 percent year on year.공시 • Jan 13+ 3 more updatesVRG S.A. to Report Q3, 2024 Results on Nov 14, 2024VRG S.A. announced that they will report Q3, 2024 results on Nov 14, 2024Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: zł0.004 (vs zł0.04 in 3Q 2022)Third quarter 2023 results: EPS: zł0.004 (down from zł0.04 in 3Q 2022). Revenue: zł297.1m (down 7.0% from 3Q 2022). Net income: zł937.0k (down 90% from 3Q 2022). Profit margin: 0.3% (down from 2.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe.Upcoming Dividend • Sep 12Upcoming dividend of zł0.20 per share at 5.6% yieldEligible shareholders must have bought the stock before 19 September 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (0.7%).공시 • Sep 03An unknown buyer acquired a 7.23% stake in VRG S.A. (WSE : VRG) from Forum Towarzystwo Funduszy Inwestycyjnych S.A.An unknown buyer acquired a 7.23% stake in VRG S.A. (WSE : VRG) from Forum Towarzystwo Funduszy Inwestycyjnych S.A. on September 1, 2023. An unknown buyer completed the acquisition of a 7.23% stake in VRG S.A. (WSE : VRG) from Forum Towarzystwo Funduszy Inwestycyjnych S.A. on September 1, 2023.Recent Insider Transactions • Aug 30Deputy Chair of the Supervisory Board recently sold €144k worth of stockOn the 28th of August, Jan Pilch sold around 186k shares on-market at roughly €0.78 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jan's only on-market trade for the last 12 months.Reported Earnings • Aug 28Second quarter 2023 earnings released: EPS: zł0.20 (vs zł0.17 in 2Q 2022)Second quarter 2023 results: EPS: zł0.20 (up from zł0.17 in 2Q 2022). Revenue: zł335.3m (down 1.9% from 2Q 2022). Net income: zł47.7m (up 21% from 2Q 2022). Profit margin: 14% (up from 12% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Germany.Buying Opportunity • Jun 21Now 21% undervaluedOver the last 90 days, the stock is up 12%. The fair value is estimated to be €1.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 75%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings is also forecast to grow by 3.0% per annum over the same time period.공시 • Jun 02VRG S.A., Annual General Meeting, Jun 28, 2023VRG S.A., Annual General Meeting, Jun 28, 2023, at 12:00 Central European Standard Time.Reported Earnings • May 21First quarter 2023 earnings released: EPS: zł0.01 (vs zł0.012 loss in 1Q 2022)First quarter 2023 results: EPS: zł0.01 (up from zł0.012 loss in 1Q 2022). Revenue: zł267.0m (up 9.5% from 1Q 2022). Net income: zł3.22m (up zł6.14m from 1Q 2022). Profit margin: 1.2% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Luxury industry in Germany.Reported Earnings • Apr 06Full year 2022 earnings released: EPS: zł0.40 (vs zł0.28 in FY 2021)Full year 2022 results: EPS: zł0.40 (up from zł0.28 in FY 2021). Revenue: zł1.27b (up 19% from FY 2021). Net income: zł93.0m (up 40% from FY 2021). Profit margin: 7.3% (up from 6.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Germany.Buying Opportunity • Mar 24Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 5.2%. The fair value is estimated to be €0.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings is also forecast to grow by 4.8% per annum over the same time period.공시 • Jan 26+ 3 more updatesVRG S.A. to Report First Half, 2023 Results on Aug 24, 2023VRG S.A. announced that they will report first half, 2023 results on Aug 24, 2023Buying Opportunity • Aug 30Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 18%. The fair value is estimated to be €0.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 14% in 2 years. Earnings is forecast to decline by 5.9% in the next 2 years.Reported Earnings • Aug 28Second quarter 2022 earnings released: EPS: zł0.17 (vs zł0.098 in 2Q 2021)Second quarter 2022 results: EPS: zł0.17 (up from zł0.098 in 2Q 2021). Revenue: zł341.8m (up 40% from 2Q 2021). Net income: zł39.3m (up 71% from 2Q 2021). Profit margin: 12% (up from 9.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.1%, compared to a 13% growth forecast for the Luxury industry in Germany.공시 • May 26VRG S.A., Annual General Meeting, Jun 21, 2022VRG S.A., Annual General Meeting, Jun 21, 2022, at 12:00 Central Europe Standard Time.Reported Earnings • May 20First quarter 2022 earnings releasedFirst quarter 2022 results: Revenue: zł243.8m (up 42% from 1Q 2021). Net loss: zł2.91m (loss narrowed 86% from 1Q 2021). Over the next year, revenue is forecast to grow 9.3%, compared to a 14% growth forecast for the industry in Germany.Reported Earnings • Apr 10Full year 2021 earnings released: EPS: zł0.28 (vs zł0.20 loss in FY 2020)Full year 2021 results: EPS: zł0.28 (up from zł0.20 loss in FY 2020). Revenue: zł1.07b (up 25% from FY 2020). Net income: zł66.3m (up zł114.5m from FY 2020). Profit margin: 6.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 13% growth forecast for the industry in Germany.공시 • Apr 06VRG Announces Executive ChangesVRG announced resignation of acting CEO Jan Pilch effective April 18, 2022 and appointed Janusz Plocica as CEO, effective as of June 1, 2022.Reported Earnings • Nov 18Third quarter 2021 earnings released: EPS zł0.10 (vs zł0.021 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł305.0m (up 22% from 3Q 2020). Net income: zł23.7m (up 374% from 3Q 2020). Profit margin: 7.8% (up from 2.0% in 3Q 2020). The increase in margin was driven by higher revenue.Reported Earnings • Jun 01First quarter 2021 earnings released: zł0.086 loss per share (vs zł0.14 loss in 1Q 2020)The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: zł172.1m (down 13% from 1Q 2020). Net loss: zł20.1m (loss narrowed 37% from 1Q 2020).공시 • Apr 20VRG Provides Earnings Guidance for the Year 2021VRG provided earnings guidance for the year 2021. VRG aims to significantly improve its financial results in 2021 against last year.Reported Earnings • Apr 17Full year 2020 earnings released: zł0.20 loss per share (vs zł0.27 profit in FY 2019)The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: zł853.7m (down 20% from FY 2019). Net loss: zł48.2m (down 175% from profit in FY 2019).이익 및 매출 성장 예측DB:1NL - 애널리스트 향후 추정치 및 과거 재무 데이터 (PLN Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20282,00414058291112/31/20271,75211465244212/31/20261,709108-91201112/31/20251,50598209252N/A9/30/20251,46294140185N/A6/30/20251,42792107148N/A3/31/20251,390925599N/A12/31/20241,375885198N/A9/30/20241,3339054101N/A6/30/20241,31881102147N/A3/31/20241,313101143187N/A12/31/20231,302102171210N/A9/30/20231,26899136173N/A6/30/20231,291107134172N/A3/31/20231,29799148180N/A12/31/20221,27493145175N/A9/30/20221,25485147174N/A6/30/20221,239100185209N/A3/31/20221,14282185206N/A12/31/20211,07066174192N/A9/30/202195313130142N/A6/30/2021897-594107N/A3/31/2021828-27114129N/A12/31/2020854-40126143N/A9/30/202095418187210N/A6/30/202095611152172N/A3/31/20201,05134109132N/A12/31/20191,0686483109N/A9/30/20191,00852N/A61N/A6/30/201993761N/A54N/A3/31/201986051N/A26N/A1/1/201980654N/A54N/A9/30/201875745N/A36N/A6/30/201873444N/A40N/A3/31/201871344N/A26N/A12/31/201768943N/A26N/A9/30/201765439N/A11N/A6/30/201763336N/A8N/A3/31/201761535N/A10N/A12/31/201659935N/A6N/A9/30/201657028N/A5N/A6/30/201655227N/A16N/A3/31/201653027N/A18N/A12/31/201551425N/A26N/A9/30/201549527N/A17N/A6/30/201547724N/A16N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 1NL 의 연간 예상 수익 증가율(10.6%)이 saving rate(1.9%)보다 높습니다.수익 vs 시장: 1NL 의 연간 수익(10.6%)이 German 시장(17%)보다 느리게 성장할 것으로 예상됩니다.고성장 수익: 1NL 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: 1NL 의 수익(연간 7.8%)이 German 시장(연간 6.8%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: 1NL 의 수익(연간 7.8%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 1NL의 자본 수익률은 3년 후 9.5%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YConsumer-durables 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/22 00:10종가2026/05/22 00:00수익2025/12/31연간 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 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.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 소스VRG S.A.는 3명의 분석가가 다루고 있습니다. 이 중 2명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Sylwia JaskiewiczDom Maklerski Banku Ochrony Srodowiska S.A.Piotr BoguszErste Group Bank AGSeweryn ZolyniakMillennium Dom Maklerski Spolka Akcyjna
공시 • Jun 06VRG S.A. Provides Consolidated Revenue Guidance for the Month and Year to Date Ended May 2024VRG S.A. provided consolidated revenue guidance for the month and year to date ended May 2024. VRG's consolidated revenues in May likely amounted to PLN 121.6 million (EUR 28.24 million), down by 2.1% year on year.YTD revenues amounted to PLN 506.5 million (EUR 117.61 mln), up 1.3% year on year.
공시 • Apr 04VRG Provides Revenues Guidance for the Month Ended March 2024VRG provided revenues guidance for the month ended March 2024. The company consolidated revenues in March likely amounted to PLN 95.1 million (EUR 22.1 million), up by 6.7 percent year on year.
공시 • Apr 20VRG Provides Earnings Guidance for the Year 2021VRG provided earnings guidance for the year 2021. VRG aims to significantly improve its financial results in 2021 against last year.
공시 • Jan 21+ 3 more updatesVRG S.A. to Report Fiscal Year 2025 Final Results on Apr 24, 2026VRG S.A. announced that they will report fiscal year 2025 final results at 5:30 PM, Central European Standard Time on Apr 24, 2026
공시 • Jan 15+ 3 more updatesVRG S.A. to Report Q3, 2025 Results on Nov 13, 2025VRG S.A. announced that they will report Q3, 2025 results on Nov 13, 2025
Reported Earnings • Nov 17Third quarter 2024 earnings released: EPS: zł0.04 (vs zł0.004 in 3Q 2023)Third quarter 2024 results: EPS: zł0.04 (up from zł0.004 in 3Q 2023). Revenue: zł311.5m (up 4.8% from 3Q 2023). Net income: zł10.1m (up zł9.21m from 3Q 2023). Profit margin: 3.3% (up from 0.3% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Luxury 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 3% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Sep 12Upcoming dividend of zł0.09 per shareEligible shareholders must have bought the stock before 19 September 2024. Payment date: 16 December 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (0.8%).
Reported Earnings • Aug 25Second quarter 2024 earnings released: EPS: zł0.12 (vs zł0.20 in 2Q 2023)Second quarter 2024 results: EPS: zł0.12 (down from zł0.20 in 2Q 2023). Revenue: zł340.8m (up 1.6% from 2Q 2023). Net income: zł28.2m (down 41% from 2Q 2023). Profit margin: 8.3% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury 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 4% per year, which means it is significantly lagging earnings growth.
공시 • Jun 06VRG S.A. Provides Consolidated Revenue Guidance for the Month and Year to Date Ended May 2024VRG S.A. provided consolidated revenue guidance for the month and year to date ended May 2024. VRG's consolidated revenues in May likely amounted to PLN 121.6 million (EUR 28.24 million), down by 2.1% year on year.YTD revenues amounted to PLN 506.5 million (EUR 117.61 mln), up 1.3% year on year.
공시 • May 31VRG S.A., Annual General Meeting, Jun 26, 2024VRG S.A., Annual General Meeting, Jun 26, 2024.
Reported Earnings • May 22First quarter 2024 earnings released: EPS: zł0.01 (vs zł0.014 in 1Q 2023)First quarter 2024 results: EPS: zł0.01 (down from zł0.014 in 1Q 2023). Revenue: zł278.2m (up 4.2% from 1Q 2023). Net income: zł2.22m (down 31% from 1Q 2023). Profit margin: 0.8% (down from 1.2% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Declared Dividend • May 20Dividend of zł0.09 announcedShareholders will receive a dividend of zł0.09. Ex-date: 19th September 2024 Payment date: 16th December 2024 Dividend yield will be 12%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 8.5% per year over the past 2 years and payments have been stable during that time. EPS is expected to grow by 1.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • May 19VRG Proposes Cash Dividend, Payable on December 16, 2024VRG announced its management board proposed to pay a dividend of PLN 0.09 (EUR 0.02) per share. An amount of PLN 21.1 million (EUR 4.9 million) from the capital reserve would be used for this purpose. The management board proposed to allocate the profit for 2023, amounting to PLN 28.2 million (EUR 6.6 million), to the reserve capital. Those entitled to the dividend will be the company's shareholders as at September 20, 2024 and the dividend would be paid on December 16, 2024. In 2023, VRG paid a dividend of PLN 0.2 (EUR 0.05) per share.
New Risk • Apr 24New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.2% 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 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
New Risk • Apr 22New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.2% 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 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
공시 • Apr 04VRG Provides Revenues Guidance for the Month Ended March 2024VRG provided revenues guidance for the month ended March 2024. The company consolidated revenues in March likely amounted to PLN 95.1 million (EUR 22.1 million), up by 6.7 percent year on year.
공시 • Jan 13+ 3 more updatesVRG S.A. to Report Q3, 2024 Results on Nov 14, 2024VRG S.A. announced that they will report Q3, 2024 results on Nov 14, 2024
Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: zł0.004 (vs zł0.04 in 3Q 2022)Third quarter 2023 results: EPS: zł0.004 (down from zł0.04 in 3Q 2022). Revenue: zł297.1m (down 7.0% from 3Q 2022). Net income: zł937.0k (down 90% from 3Q 2022). Profit margin: 0.3% (down from 2.9% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe.
Upcoming Dividend • Sep 12Upcoming dividend of zł0.20 per share at 5.6% yieldEligible shareholders must have bought the stock before 19 September 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (0.7%).
공시 • Sep 03An unknown buyer acquired a 7.23% stake in VRG S.A. (WSE : VRG) from Forum Towarzystwo Funduszy Inwestycyjnych S.A.An unknown buyer acquired a 7.23% stake in VRG S.A. (WSE : VRG) from Forum Towarzystwo Funduszy Inwestycyjnych S.A. on September 1, 2023. An unknown buyer completed the acquisition of a 7.23% stake in VRG S.A. (WSE : VRG) from Forum Towarzystwo Funduszy Inwestycyjnych S.A. on September 1, 2023.
Recent Insider Transactions • Aug 30Deputy Chair of the Supervisory Board recently sold €144k worth of stockOn the 28th of August, Jan Pilch sold around 186k shares on-market at roughly €0.78 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jan's only on-market trade for the last 12 months.
Reported Earnings • Aug 28Second quarter 2023 earnings released: EPS: zł0.20 (vs zł0.17 in 2Q 2022)Second quarter 2023 results: EPS: zł0.20 (up from zł0.17 in 2Q 2022). Revenue: zł335.3m (down 1.9% from 2Q 2022). Net income: zł47.7m (up 21% from 2Q 2022). Profit margin: 14% (up from 12% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Germany.
Buying Opportunity • Jun 21Now 21% undervaluedOver the last 90 days, the stock is up 12%. The fair value is estimated to be €1.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 75%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings is also forecast to grow by 3.0% per annum over the same time period.
공시 • Jun 02VRG S.A., Annual General Meeting, Jun 28, 2023VRG S.A., Annual General Meeting, Jun 28, 2023, at 12:00 Central European Standard Time.
Reported Earnings • May 21First quarter 2023 earnings released: EPS: zł0.01 (vs zł0.012 loss in 1Q 2022)First quarter 2023 results: EPS: zł0.01 (up from zł0.012 loss in 1Q 2022). Revenue: zł267.0m (up 9.5% from 1Q 2022). Net income: zł3.22m (up zł6.14m from 1Q 2022). Profit margin: 1.2% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Luxury industry in Germany.
Reported Earnings • Apr 06Full year 2022 earnings released: EPS: zł0.40 (vs zł0.28 in FY 2021)Full year 2022 results: EPS: zł0.40 (up from zł0.28 in FY 2021). Revenue: zł1.27b (up 19% from FY 2021). Net income: zł93.0m (up 40% from FY 2021). Profit margin: 7.3% (up from 6.2% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Germany.
Buying Opportunity • Mar 24Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 5.2%. The fair value is estimated to be €0.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings is also forecast to grow by 4.8% per annum over the same time period.
공시 • Jan 26+ 3 more updatesVRG S.A. to Report First Half, 2023 Results on Aug 24, 2023VRG S.A. announced that they will report first half, 2023 results on Aug 24, 2023
Buying Opportunity • Aug 30Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 18%. The fair value is estimated to be €0.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 14% in 2 years. Earnings is forecast to decline by 5.9% in the next 2 years.
Reported Earnings • Aug 28Second quarter 2022 earnings released: EPS: zł0.17 (vs zł0.098 in 2Q 2021)Second quarter 2022 results: EPS: zł0.17 (up from zł0.098 in 2Q 2021). Revenue: zł341.8m (up 40% from 2Q 2021). Net income: zł39.3m (up 71% from 2Q 2021). Profit margin: 12% (up from 9.4% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.1%, compared to a 13% growth forecast for the Luxury industry in Germany.
공시 • May 26VRG S.A., Annual General Meeting, Jun 21, 2022VRG S.A., Annual General Meeting, Jun 21, 2022, at 12:00 Central Europe Standard Time.
Reported Earnings • May 20First quarter 2022 earnings releasedFirst quarter 2022 results: Revenue: zł243.8m (up 42% from 1Q 2021). Net loss: zł2.91m (loss narrowed 86% from 1Q 2021). Over the next year, revenue is forecast to grow 9.3%, compared to a 14% growth forecast for the industry in Germany.
Reported Earnings • Apr 10Full year 2021 earnings released: EPS: zł0.28 (vs zł0.20 loss in FY 2020)Full year 2021 results: EPS: zł0.28 (up from zł0.20 loss in FY 2020). Revenue: zł1.07b (up 25% from FY 2020). Net income: zł66.3m (up zł114.5m from FY 2020). Profit margin: 6.2% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 13% growth forecast for the industry in Germany.
공시 • Apr 06VRG Announces Executive ChangesVRG announced resignation of acting CEO Jan Pilch effective April 18, 2022 and appointed Janusz Plocica as CEO, effective as of June 1, 2022.
Reported Earnings • Nov 18Third quarter 2021 earnings released: EPS zł0.10 (vs zł0.021 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł305.0m (up 22% from 3Q 2020). Net income: zł23.7m (up 374% from 3Q 2020). Profit margin: 7.8% (up from 2.0% in 3Q 2020). The increase in margin was driven by higher revenue.
Reported Earnings • Jun 01First quarter 2021 earnings released: zł0.086 loss per share (vs zł0.14 loss in 1Q 2020)The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: zł172.1m (down 13% from 1Q 2020). Net loss: zł20.1m (loss narrowed 37% from 1Q 2020).
공시 • Apr 20VRG Provides Earnings Guidance for the Year 2021VRG provided earnings guidance for the year 2021. VRG aims to significantly improve its financial results in 2021 against last year.
Reported Earnings • Apr 17Full year 2020 earnings released: zł0.20 loss per share (vs zł0.27 profit in FY 2019)The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: zł853.7m (down 20% from FY 2019). Net loss: zł48.2m (down 175% from profit in FY 2019).