View Future GrowthEmak 과거 순이익 실적과거 기준 점검 4/6Emak의 수입은 연평균 -29.4%의 비율로 감소해 온 반면, Consumer Durables 산업은 수입이 연평균 3.4% 감소했습니다. 매출은 연평균 1.5%의 비율로 증가해 왔습니다. Emak의 자기자본이익률은 4.4%이고 순이익률은 2.1%입니다.핵심 정보-29.44%순이익 성장률-29.34%주당순이익(EPS) 성장률Consumer Durables 산업 성장률-22.91%매출 성장률1.50%자기자본이익률4.40%순이익률2.07%최근 순이익 업데이트31 Mar 2026최근 과거 실적 업데이트Reported Earnings • Nov 14Third quarter 2024 earnings released: €0.003 loss per share (vs €0.003 profit in 3Q 2023)Third quarter 2024 results: €0.003 loss per share (down from €0.003 profit in 3Q 2023). Revenue: €130.0m (up 9.5% from 3Q 2023). Net loss: €507.0k (down 194% from profit in 3Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: €0.039 (vs €0.064 in 2Q 2023)Second quarter 2024 results: EPS: €0.039 (down from €0.064 in 2Q 2023). Revenue: €177.3m (up 11% from 2Q 2023). Net income: €6.37m (down 39% from 2Q 2023). Profit margin: 3.6% (down from 6.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Reported Earnings • May 17First quarter 2024 earnings released: EPS: €0.047 (vs €0.068 in 1Q 2023)First quarter 2024 results: EPS: €0.047 (down from €0.068 in 1Q 2023). Revenue: €171.0m (flat on 1Q 2023). Net income: €7.59m (down 32% from 1Q 2023). Profit margin: 4.4% (down from 6.5% in 1Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Reported Earnings • Mar 17Full year 2023 earnings released: EPS: €0.12 (vs €0.18 in FY 2022)Full year 2023 results: EPS: €0.12 (down from €0.18 in FY 2022). Revenue: €571.8m (down 5.6% from FY 2022). Net income: €19.1m (down 37% from FY 2022). Profit margin: 3.3% (down from 5.0% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: €0.003 (vs €0.031 in 3Q 2022)Third quarter 2023 results: EPS: €0.003 (down from €0.031 in 3Q 2022). Revenue: €119.6m (down 3.6% from 3Q 2022). Net income: €542.0k (down 89% from 3Q 2022). Profit margin: 0.5% (down from 4.1% in 3Q 2022). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year.Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: €0.064 (vs €0.089 in 2Q 2022)Second quarter 2023 results: EPS: €0.064 (down from €0.089 in 2Q 2022). Revenue: €161.9m (down 9.0% from 2Q 2022). Net income: €10.4m (down 29% from 2Q 2022). Profit margin: 6.4% (down from 8.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year.모든 업데이트 보기Recent updatesDeclared Dividend • May 21Dividend increased to €0.03Dividend of €0.03 is 20% higher than last year. Ex-date: 1st June 2026 Payment date: 3rd June 2026 Dividend yield will be 3.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 78% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공시 • Mar 23Emak S.p.A., Annual General Meeting, Apr 21, 2026Emak S.p.A., Annual General Meeting, Apr 21, 2026, at 10:00 W. Europe Standard Time.공시 • Mar 18Emak S.p.A. announces Annual dividend, payable on June 03, 2026Emak S.p.A. announced Annual dividend of EUR 0.0300 per share payable on June 03, 2026, ex-date on June 01, 2026 and record date on June 02, 2026.공시 • Mar 21Emak S.p.A., Annual General Meeting, Apr 29, 2025Emak S.p.A., Annual General Meeting, Apr 29, 2025, at 10:00 W. Europe Standard Time.공시 • Mar 14Emak S.p.A. announces Annual dividend, payable on June 04, 2025Emak S.p.A. announced Annual dividend of EUR 0.0250 per share payable on June 04, 2025, ex-date on June 02, 2025 and record date on June 03, 2025.Buy Or Sell Opportunity • Jan 06Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to €0.83. The fair value is estimated to be €1.04, 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 declined by 39%. Revenue is forecast to grow by 8.8% in 2 years. Earnings are forecast to grow by 106% in the next 2 years.Reported Earnings • Nov 14Third quarter 2024 earnings released: €0.003 loss per share (vs €0.003 profit in 3Q 2023)Third quarter 2024 results: €0.003 loss per share (down from €0.003 profit in 3Q 2023). Revenue: €130.0m (up 9.5% from 3Q 2023). Net loss: €507.0k (down 194% from profit in 3Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings.Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: €0.039 (vs €0.064 in 2Q 2023)Second quarter 2024 results: EPS: €0.039 (down from €0.064 in 2Q 2023). Revenue: €177.3m (up 11% from 2Q 2023). Net income: €6.37m (down 39% from 2Q 2023). Profit margin: 3.6% (down from 6.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Buy Or Sell Opportunity • Jul 30Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 12% to €0.95. The fair value is estimated to be €1.24, 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 declined by 27%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 108% in the next 2 years.New Risk • Jul 26New 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 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin).Buy Or Sell Opportunity • Jul 10Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.5% to €0.97. The fair value is estimated to be €1.22, 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 declined by 27%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 108% in the next 2 years.New Risk • Jun 14New 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: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin).Upcoming Dividend • May 27Upcoming dividend of €0.045 per shareEligible shareholders must have bought the stock before 03 June 2024. Payment date: 05 June 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (4.1%).Reported Earnings • May 17First quarter 2024 earnings released: EPS: €0.047 (vs €0.068 in 1Q 2023)First quarter 2024 results: EPS: €0.047 (down from €0.068 in 1Q 2023). Revenue: €171.0m (flat on 1Q 2023). Net income: €7.59m (down 32% from 1Q 2023). Profit margin: 4.4% (down from 6.5% in 1Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.New Risk • Mar 31New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 3.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (3.0x net interest cover). 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 (3.4% net profit margin).Valuation Update With 7 Day Price Move • Mar 21Investor sentiment improves as stock rises 20%After last week's 20% share price gain to €1.10, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Consumer Durables industry in Germany. Total loss to shareholders of 6.0% over the past three years.Declared Dividend • Mar 18Dividend of €0.045 announcedShareholders will receive a dividend of €0.045. Ex-date: 3rd June 2024 Payment date: 5th June 2024 Dividend yield will be 4.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 11% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Mar 17Full year 2023 earnings released: EPS: €0.12 (vs €0.18 in FY 2022)Full year 2023 results: EPS: €0.12 (down from €0.18 in FY 2022). Revenue: €571.8m (down 5.6% from FY 2022). Net income: €19.1m (down 37% from FY 2022). Profit margin: 3.3% (down from 5.0% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Dec 19Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €1.02, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Consumer Durables industry in Europe. Total returns to shareholders of 11% over the past three years.Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: €0.003 (vs €0.031 in 3Q 2022)Third quarter 2023 results: EPS: €0.003 (down from €0.031 in 3Q 2022). Revenue: €119.6m (down 3.6% from 3Q 2022). Net income: €542.0k (down 89% from 3Q 2022). Profit margin: 0.5% (down from 4.1% in 3Q 2022). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year.Valuation Update With 7 Day Price Move • Oct 18Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €1.02, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Consumer Durables industry in Europe. Total returns to shareholders of 36% over the past three years.New Risk • Aug 10New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.6% Last year net profit margin: 5.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (60% net debt to equity). 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 (9.0% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin).Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: €0.064 (vs €0.089 in 2Q 2022)Second quarter 2023 results: EPS: €0.064 (down from €0.089 in 2Q 2022). Revenue: €161.9m (down 9.0% from 2Q 2022). Net income: €10.4m (down 29% from 2Q 2022). Profit margin: 6.4% (down from 8.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year.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 8.2% 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 Risk Debt is not well covered by operating cash flow (5.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change).Valuation Update With 7 Day Price Move • Jul 18Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €1.14, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Consumer Durables industry in Germany. Total returns to shareholders of 76% over the past three years.Upcoming Dividend • May 29Upcoming dividend of €0.065 per share at 6.0% yieldEligible shareholders must have bought the stock before 05 June 2023. Payment date: 07 June 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 6.0%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.9%).Reported Earnings • May 16First quarter 2023 earnings released: EPS: €0.068 (vs €0.10 in 1Q 2022)First quarter 2023 results: EPS: €0.068 (down from €0.10 in 1Q 2022). Revenue: €173.0m (down 9.1% from 1Q 2022). Net income: €11.1m (down 33% from 1Q 2022). Profit margin: 6.4% (down from 8.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 23% per year.Reported Earnings • Mar 19Full year 2022 earnings released: EPS: €0.18 (vs €0.20 in FY 2021)Full year 2022 results: EPS: €0.18 (down from €0.20 in FY 2021). Revenue: €610.5m (up 3.8% from FY 2021). Net income: €30.3m (down 6.9% from FY 2021). Profit margin: 5.0% (down from 5.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: €0.031 (vs €0.037 in 3Q 2021)Third quarter 2022 results: EPS: €0.031 (down from €0.037 in 3Q 2021). Revenue: €124.1m (down 5.5% from 3Q 2021). Net income: €5.06m (down 17% from 3Q 2021). Profit margin: 4.1% (down from 4.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: €0.031 (vs €0.037 in 3Q 2021)Third quarter 2022 results: EPS: €0.031 (down from €0.037 in 3Q 2021). Revenue: €125.3m (down 4.6% from 3Q 2021). Net income: €5.06m (down 17% from 3Q 2021). Profit margin: 4.0% (down from 4.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 08Second quarter 2022 earnings released: EPS: €0.089 (vs €0.098 in 2Q 2021)Second quarter 2022 results: EPS: €0.089 (down from €0.098 in 2Q 2021). Revenue: €178.0m (up 4.6% from 2Q 2021). Net income: €14.6m (down 8.6% from 2Q 2021). Profit margin: 8.2% (down from 9.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to stay flat compared to a 3.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 30Upcoming dividend of €0.075 per shareEligible shareholders must have bought the stock before 06 June 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (3.0%).Reported Earnings • May 14First quarter 2022 earnings released: EPS: €0.10 (vs €0.093 in 1Q 2021)First quarter 2022 results: EPS: €0.10 (up from €0.093 in 1Q 2021). Revenue: €191.0m (up 17% from 1Q 2021). Net income: €16.6m (up 9.7% from 1Q 2021). Profit margin: 8.7% (down from 9.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.0%, compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 18Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: €0.20 (up from €0.12 in FY 2020). Revenue: €593.4m (up 26% from FY 2020). Net income: €32.5m (up 68% from FY 2020). Profit margin: 5.5% (up from 4.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 2.1%, compared to a 8.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Feb 08Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be €2.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% per annum over the last 3 years. Earnings per share has grown by 24% per annum over the last 3 years.Buying Opportunity • Jan 22Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 4.0%. The fair value is estimated to be €2.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% per annum over the last 3 years. Earnings per share has grown by 24% per annum over the last 3 years.Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to €2.22, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Consumer Durables industry in Germany. Total returns to shareholders of 83% over the past three years.Reported Earnings • Nov 13Third quarter 2021 earnings released: EPS €0.037 (vs €0.029 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €132.8m (up 18% from 3Q 2020). Net income: €6.07m (up 28% from 3Q 2020). Profit margin: 4.6% (up from 4.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS €0.098 (vs €0.042 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €170.1m (up 31% from 2Q 2020). Net income: €16.0m (up 130% from 2Q 2020). Profit margin: 9.4% (up from 5.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year.Upcoming Dividend • Jun 01Upcoming dividend of €0.045 per shareEligible shareholders must have bought the stock before 07 June 2021. Payment date: 09 June 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (2.3%).Valuation Update With 7 Day Price Move • May 26Investor sentiment improved over the past weekAfter last week's 16% share price gain to €1.88, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Consumer Durables industry in Germany. Total returns to shareholders of 224% over the past year.Reported Earnings • May 13First quarter 2021 earnings released: EPS €0.093 (vs €0.024 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €164.3m (up 39% from 1Q 2020). Net income: €15.1m (up 291% from 1Q 2020). Profit margin: 9.2% (up from 3.3% in 1Q 2020). The increase in margin was driven by higher revenue.Reported Earnings • Apr 04Full year 2020 earnings releasedThe company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €469.8m (up 8.3% from FY 2019). Net income: €19.3m (up 49% from FY 2019). Profit margin: 4.1% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue.Reported Earnings • Mar 19Full year 2020 earnings released: EPS €0.12 (vs €0.079 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €469.8m (up 8.3% from FY 2019). Net income: €19.3m (up 49% from FY 2019). Profit margin: 4.1% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue.Is New 90 Day High Low • Mar 09New 90-day high: €1.22The company is up 18% from its price of €1.03 on 09 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Consumer Durables industry, which is also up 18% over the same period.Is New 90 Day High Low • Feb 02New 90-day high: €1.18The company is up 39% from its price of €0.85 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 26% over the same period.Is New 90 Day High Low • Jan 07New 90-day high: €1.13The company is up 30% from its price of €0.87 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 18% over the same period.Is New 90 Day High Low • Dec 08New 90-day high: €1.04The company is up 28% from its price of €0.81 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 17% over the same period.Is New 90 Day High Low • Nov 13New 90-day high: €0.98The company is up 14% from its price of €0.86 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 9.0% over the same period.Reported Earnings • Nov 12Third quarter 2020 earnings released: EPS €0.029The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €113.5m (up 21% from 3Q 2019). Net income: €4.76m (up 316% from 3Q 2019). Profit margin: 4.2% (up from 1.2% in 3Q 2019). The increase in margin was driven by higher revenue.Is New 90 Day High Low • Oct 13New 90-day high: €0.91The company is up 22% from its price of €0.75 on 15 July 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 17% over the same period.매출 및 비용 세부 내역Emak가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이DB:EK4 매출, 비용 및 순이익 (EUR Millions)날짜매출순이익일반관리비연구개발비31 Mar 2659712134031 Dec 2561214135030 Sep 2562313135030 Jun 2562611135031 Mar 256249134031 Dec 246026132030 Sep 2459110126030 Jun 2458112124031 Mar 2456516118031 Dec 2356619115030 Sep 2356316111030 Jun 2356921109031 Mar 2358725109031 Dec 2260630108030 Sep 2261632109030 Jun 2262433110031 Mar 2261634108031 Dec 2158833105030 Sep 215744199030 Jun 2155540100031 Mar 215153192031 Dec 204701989030 Sep 204571786030 Jun 204381383031 Mar 204301183031 Dec 194341384030 Sep 194351489030 Jun 194291485031 Mar 194442090031 Dec 184532591030 Sep 184552496030 Jun 184552296031 Mar 184341894031 Dec 174221692030 Sep 174041787030 Jun 173961884031 Mar 173971984031 Dec 163921884030 Sep 163891883030 Jun 163841383031 Mar 16386982031 Dec 15382981030 Sep 15373481030 Jun 153709790양질의 수익: EK4는 고품질 수익을 보유하고 있습니다.이익 마진 증가: EK4의 현재 순 이익률 (2.1%)은 지난해 (1.5%)보다 높습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: EK4의 수익은 지난 5년 동안 연평균 29.4% 감소했습니다.성장 가속화: 지난 1년간 EK4 의 수익 증가율(35.5%)은 연간 평균(-29.4%)을 초과합니다.수익 대 산업: EK4의 지난 1년 수익 증가율(35.5%)은 Consumer Durables 업계의 5.4%를 상회했습니다.자기자본이익률높은 ROE: EK4의 자본 수익률(4.4%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YConsumer-durables 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/22 00:57종가2026/05/22 00:00수익2026/03/31연간 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 소스Emak S.p.A.는 2명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Paola SagliettiBanca Akros S.p.A. (ESN)Carlo MaritanoIntermonte SIM S.p.A.
Reported Earnings • Nov 14Third quarter 2024 earnings released: €0.003 loss per share (vs €0.003 profit in 3Q 2023)Third quarter 2024 results: €0.003 loss per share (down from €0.003 profit in 3Q 2023). Revenue: €130.0m (up 9.5% from 3Q 2023). Net loss: €507.0k (down 194% from profit in 3Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: €0.039 (vs €0.064 in 2Q 2023)Second quarter 2024 results: EPS: €0.039 (down from €0.064 in 2Q 2023). Revenue: €177.3m (up 11% from 2Q 2023). Net income: €6.37m (down 39% from 2Q 2023). Profit margin: 3.6% (down from 6.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 17First quarter 2024 earnings released: EPS: €0.047 (vs €0.068 in 1Q 2023)First quarter 2024 results: EPS: €0.047 (down from €0.068 in 1Q 2023). Revenue: €171.0m (flat on 1Q 2023). Net income: €7.59m (down 32% from 1Q 2023). Profit margin: 4.4% (down from 6.5% in 1Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Reported Earnings • Mar 17Full year 2023 earnings released: EPS: €0.12 (vs €0.18 in FY 2022)Full year 2023 results: EPS: €0.12 (down from €0.18 in FY 2022). Revenue: €571.8m (down 5.6% from FY 2022). Net income: €19.1m (down 37% from FY 2022). Profit margin: 3.3% (down from 5.0% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: €0.003 (vs €0.031 in 3Q 2022)Third quarter 2023 results: EPS: €0.003 (down from €0.031 in 3Q 2022). Revenue: €119.6m (down 3.6% from 3Q 2022). Net income: €542.0k (down 89% from 3Q 2022). Profit margin: 0.5% (down from 4.1% in 3Q 2022). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year.
Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: €0.064 (vs €0.089 in 2Q 2022)Second quarter 2023 results: EPS: €0.064 (down from €0.089 in 2Q 2022). Revenue: €161.9m (down 9.0% from 2Q 2022). Net income: €10.4m (down 29% from 2Q 2022). Profit margin: 6.4% (down from 8.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year.
Declared Dividend • May 21Dividend increased to €0.03Dividend of €0.03 is 20% higher than last year. Ex-date: 1st June 2026 Payment date: 3rd June 2026 Dividend yield will be 3.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 78% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공시 • Mar 23Emak S.p.A., Annual General Meeting, Apr 21, 2026Emak S.p.A., Annual General Meeting, Apr 21, 2026, at 10:00 W. Europe Standard Time.
공시 • Mar 18Emak S.p.A. announces Annual dividend, payable on June 03, 2026Emak S.p.A. announced Annual dividend of EUR 0.0300 per share payable on June 03, 2026, ex-date on June 01, 2026 and record date on June 02, 2026.
공시 • Mar 21Emak S.p.A., Annual General Meeting, Apr 29, 2025Emak S.p.A., Annual General Meeting, Apr 29, 2025, at 10:00 W. Europe Standard Time.
공시 • Mar 14Emak S.p.A. announces Annual dividend, payable on June 04, 2025Emak S.p.A. announced Annual dividend of EUR 0.0250 per share payable on June 04, 2025, ex-date on June 02, 2025 and record date on June 03, 2025.
Buy Or Sell Opportunity • Jan 06Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to €0.83. The fair value is estimated to be €1.04, 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 declined by 39%. Revenue is forecast to grow by 8.8% in 2 years. Earnings are forecast to grow by 106% in the next 2 years.
Reported Earnings • Nov 14Third quarter 2024 earnings released: €0.003 loss per share (vs €0.003 profit in 3Q 2023)Third quarter 2024 results: €0.003 loss per share (down from €0.003 profit in 3Q 2023). Revenue: €130.0m (up 9.5% from 3Q 2023). Net loss: €507.0k (down 194% from profit in 3Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings.
Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: €0.039 (vs €0.064 in 2Q 2023)Second quarter 2024 results: EPS: €0.039 (down from €0.064 in 2Q 2023). Revenue: €177.3m (up 11% from 2Q 2023). Net income: €6.37m (down 39% from 2Q 2023). Profit margin: 3.6% (down from 6.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Buy Or Sell Opportunity • Jul 30Now 23% undervalued after recent price dropOver the last 90 days, the stock has fallen 12% to €0.95. The fair value is estimated to be €1.24, 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 declined by 27%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 108% in the next 2 years.
New Risk • Jul 26New 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 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin).
Buy Or Sell Opportunity • Jul 10Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.5% to €0.97. The fair value is estimated to be €1.22, 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 declined by 27%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 108% in the next 2 years.
New Risk • Jun 14New 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: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin).
Upcoming Dividend • May 27Upcoming dividend of €0.045 per shareEligible shareholders must have bought the stock before 03 June 2024. Payment date: 05 June 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (4.1%).
Reported Earnings • May 17First quarter 2024 earnings released: EPS: €0.047 (vs €0.068 in 1Q 2023)First quarter 2024 results: EPS: €0.047 (down from €0.068 in 1Q 2023). Revenue: €171.0m (flat on 1Q 2023). Net income: €7.59m (down 32% from 1Q 2023). Profit margin: 4.4% (down from 6.5% in 1Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
New Risk • Mar 31New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 3.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (3.0x net interest cover). 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 (3.4% net profit margin).
Valuation Update With 7 Day Price Move • Mar 21Investor sentiment improves as stock rises 20%After last week's 20% share price gain to €1.10, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Consumer Durables industry in Germany. Total loss to shareholders of 6.0% over the past three years.
Declared Dividend • Mar 18Dividend of €0.045 announcedShareholders will receive a dividend of €0.045. Ex-date: 3rd June 2024 Payment date: 5th June 2024 Dividend yield will be 4.9%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 11% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Mar 17Full year 2023 earnings released: EPS: €0.12 (vs €0.18 in FY 2022)Full year 2023 results: EPS: €0.12 (down from €0.18 in FY 2022). Revenue: €571.8m (down 5.6% from FY 2022). Net income: €19.1m (down 37% from FY 2022). Profit margin: 3.3% (down from 5.0% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Dec 19Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €1.02, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Consumer Durables industry in Europe. Total returns to shareholders of 11% over the past three years.
Reported Earnings • Nov 17Third quarter 2023 earnings released: EPS: €0.003 (vs €0.031 in 3Q 2022)Third quarter 2023 results: EPS: €0.003 (down from €0.031 in 3Q 2022). Revenue: €119.6m (down 3.6% from 3Q 2022). Net income: €542.0k (down 89% from 3Q 2022). Profit margin: 0.5% (down from 4.1% in 3Q 2022). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 2% per year.
Valuation Update With 7 Day Price Move • Oct 18Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €1.02, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Consumer Durables industry in Europe. Total returns to shareholders of 36% over the past three years.
New Risk • Aug 10New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.6% Last year net profit margin: 5.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (60% net debt to equity). 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 (9.0% average weekly change). Profit margins are more than 30% lower than last year (3.6% net profit margin).
Reported Earnings • Aug 10Second quarter 2023 earnings released: EPS: €0.064 (vs €0.089 in 2Q 2022)Second quarter 2023 results: EPS: €0.064 (down from €0.089 in 2Q 2022). Revenue: €161.9m (down 9.0% from 2Q 2022). Net income: €10.4m (down 29% from 2Q 2022). Profit margin: 6.4% (down from 8.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year.
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 8.2% 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 Risk Debt is not well covered by operating cash flow (5.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change).
Valuation Update With 7 Day Price Move • Jul 18Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €1.14, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Consumer Durables industry in Germany. Total returns to shareholders of 76% over the past three years.
Upcoming Dividend • May 29Upcoming dividend of €0.065 per share at 6.0% yieldEligible shareholders must have bought the stock before 05 June 2023. Payment date: 07 June 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 6.0%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.9%).
Reported Earnings • May 16First quarter 2023 earnings released: EPS: €0.068 (vs €0.10 in 1Q 2022)First quarter 2023 results: EPS: €0.068 (down from €0.10 in 1Q 2022). Revenue: €173.0m (down 9.1% from 1Q 2022). Net income: €11.1m (down 33% from 1Q 2022). Profit margin: 6.4% (down from 8.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 23% per year.
Reported Earnings • Mar 19Full year 2022 earnings released: EPS: €0.18 (vs €0.20 in FY 2021)Full year 2022 results: EPS: €0.18 (down from €0.20 in FY 2021). Revenue: €610.5m (up 3.8% from FY 2021). Net income: €30.3m (down 6.9% from FY 2021). Profit margin: 5.0% (down from 5.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: €0.031 (vs €0.037 in 3Q 2021)Third quarter 2022 results: EPS: €0.031 (down from €0.037 in 3Q 2021). Revenue: €124.1m (down 5.5% from 3Q 2021). Net income: €5.06m (down 17% from 3Q 2021). Profit margin: 4.1% (down from 4.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 13Third quarter 2022 earnings released: EPS: €0.031 (vs €0.037 in 3Q 2021)Third quarter 2022 results: EPS: €0.031 (down from €0.037 in 3Q 2021). Revenue: €125.3m (down 4.6% from 3Q 2021). Net income: €5.06m (down 17% from 3Q 2021). Profit margin: 4.0% (down from 4.6% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 08Second quarter 2022 earnings released: EPS: €0.089 (vs €0.098 in 2Q 2021)Second quarter 2022 results: EPS: €0.089 (down from €0.098 in 2Q 2021). Revenue: €178.0m (up 4.6% from 2Q 2021). Net income: €14.6m (down 8.6% from 2Q 2021). Profit margin: 8.2% (down from 9.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to stay flat compared to a 3.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 30Upcoming dividend of €0.075 per shareEligible shareholders must have bought the stock before 06 June 2022. Payment date: 08 June 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (3.0%).
Reported Earnings • May 14First quarter 2022 earnings released: EPS: €0.10 (vs €0.093 in 1Q 2021)First quarter 2022 results: EPS: €0.10 (up from €0.093 in 1Q 2021). Revenue: €191.0m (up 17% from 1Q 2021). Net income: €16.6m (up 9.7% from 1Q 2021). Profit margin: 8.7% (down from 9.3% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.0%, compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 18Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: €0.20 (up from €0.12 in FY 2020). Revenue: €593.4m (up 26% from FY 2020). Net income: €32.5m (up 68% from FY 2020). Profit margin: 5.5% (up from 4.1% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 2.1%, compared to a 8.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Feb 08Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be €2.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% per annum over the last 3 years. Earnings per share has grown by 24% per annum over the last 3 years.
Buying Opportunity • Jan 22Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 4.0%. The fair value is estimated to be €2.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.9% per annum over the last 3 years. Earnings per share has grown by 24% per annum over the last 3 years.
Valuation Update With 7 Day Price Move • Dec 01Investor sentiment improved over the past weekAfter last week's 16% share price gain to €2.22, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Consumer Durables industry in Germany. Total returns to shareholders of 83% over the past three years.
Reported Earnings • Nov 13Third quarter 2021 earnings released: EPS €0.037 (vs €0.029 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €132.8m (up 18% from 3Q 2020). Net income: €6.07m (up 28% from 3Q 2020). Profit margin: 4.6% (up from 4.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 09Second quarter 2021 earnings released: EPS €0.098 (vs €0.042 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €170.1m (up 31% from 2Q 2020). Net income: €16.0m (up 130% from 2Q 2020). Profit margin: 9.4% (up from 5.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 13% per year.
Upcoming Dividend • Jun 01Upcoming dividend of €0.045 per shareEligible shareholders must have bought the stock before 07 June 2021. Payment date: 09 June 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (2.3%).
Valuation Update With 7 Day Price Move • May 26Investor sentiment improved over the past weekAfter last week's 16% share price gain to €1.88, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Consumer Durables industry in Germany. Total returns to shareholders of 224% over the past year.
Reported Earnings • May 13First quarter 2021 earnings released: EPS €0.093 (vs €0.024 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €164.3m (up 39% from 1Q 2020). Net income: €15.1m (up 291% from 1Q 2020). Profit margin: 9.2% (up from 3.3% in 1Q 2020). The increase in margin was driven by higher revenue.
Reported Earnings • Apr 04Full year 2020 earnings releasedThe company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €469.8m (up 8.3% from FY 2019). Net income: €19.3m (up 49% from FY 2019). Profit margin: 4.1% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue.
Reported Earnings • Mar 19Full year 2020 earnings released: EPS €0.12 (vs €0.079 in FY 2019)The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €469.8m (up 8.3% from FY 2019). Net income: €19.3m (up 49% from FY 2019). Profit margin: 4.1% (up from 3.0% in FY 2019). The increase in margin was driven by higher revenue.
Is New 90 Day High Low • Mar 09New 90-day high: €1.22The company is up 18% from its price of €1.03 on 09 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Consumer Durables industry, which is also up 18% over the same period.
Is New 90 Day High Low • Feb 02New 90-day high: €1.18The company is up 39% from its price of €0.85 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 26% over the same period.
Is New 90 Day High Low • Jan 07New 90-day high: €1.13The company is up 30% from its price of €0.87 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 18% over the same period.
Is New 90 Day High Low • Dec 08New 90-day high: €1.04The company is up 28% from its price of €0.81 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 17% over the same period.
Is New 90 Day High Low • Nov 13New 90-day high: €0.98The company is up 14% from its price of €0.86 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 9.0% over the same period.
Reported Earnings • Nov 12Third quarter 2020 earnings released: EPS €0.029The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €113.5m (up 21% from 3Q 2019). Net income: €4.76m (up 316% from 3Q 2019). Profit margin: 4.2% (up from 1.2% in 3Q 2019). The increase in margin was driven by higher revenue.
Is New 90 Day High Low • Oct 13New 90-day high: €0.91The company is up 22% from its price of €0.75 on 15 July 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 17% over the same period.