View ValuationDexelance 향후 성장Future 기준 점검 4/6Dexelance은 연간 수입과 매출이 각각 102.7%와 7.4% 증가할 것으로 예상되고 EPS는 연간 108.8%만큼 증가할 것으로 예상됩니다.핵심 정보102.7%이익 성장률108.76%EPS 성장률Consumer Durables 이익 성장19.9%매출 성장률7.4%향후 자기자본이익률n/a애널리스트 커버리지Low마지막 업데이트22 May 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesBoard Change • May 20Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (8 non-independent directors). Chairman & CEO Andrea Sasso was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.공시 • Sep 04+ 1 more updateDexelance S.p.A. to Report First Half, 2025 Results on Sep 09, 2025Dexelance S.p.A. announced that they will report first half, 2025 results on Sep 09, 2025공시 • Jul 24Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Flexalighting Srl for €9.6 million.Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Flexalighting Srl for €9.6 million on July 22, 2025. A cash consideration of €9.6 million will be paid by Dexelance S.p.A. Following its completion, Dexelance now holds 100.0% of Flexalighting's share capital. The transaction is financed by Dexelance through financial debt of approximately Euro 6.8 million and, for the remaining portion, with its own means. Roberto Mantovani, who also took on the role of CEO of Axolight in October 2024, will continue to serve as Chairman and CEO of Flexalighting. For the period ending December 31, 2024, Flexalighting Srl reported total revenue of €11 million. Dexelance S.p.A. (BIT:DEX) completed the acquisition of remaining 49% stake in Flexalighting Srl on July 22, 2025.공시 • Mar 18Dexelance S.p.A., Annual General Meeting, Apr 16, 2025Dexelance S.p.A., Annual General Meeting, Apr 16, 2025, at 11:00 W. Europe Standard Time.공시 • Oct 15Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Axo Light srl.Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Axo Light srl on October 15, 2024. The overall transaction in Axolight, which was fully financed by Dexelance with its own funds, took place with an equity value of approximately €3.2 million, of which approximately €1.2 million was used for the acquisition of the remaining minority stake. For the period ending December 31, 2023, Axo Light srl reported total revenue of €5 million. Roberto Mantovani, currently CEO of Flexalighting and experienced entrepreneur in the lighting market, will also take on the role as Axolight's new CEO. Dexelance S.p.A. (BIT:DEX) completed the acquisition of remaining 49% stake in Axo Light srl on October 15, 2024.Reported Earnings • Sep 11Second quarter 2024 earnings released: EPS: €0.027 (vs €0.16 in 2Q 2023)Second quarter 2024 results: EPS: €0.027 (down from €0.16 in 2Q 2023). Revenue: €80.9m (up 12% from 2Q 2023). Net income: €715.0k (down 83% from 2Q 2023). Profit margin: 0.9% (down from 5.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany.New Risk • Jun 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.7% 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 Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future.New Risk • Jun 10New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future.Reported Earnings • Mar 13Full year 2023 earnings released: EPS: €1.05 (vs €0.29 loss in FY 2022)Full year 2023 results: EPS: €1.05 (up from €0.29 loss in FY 2022). Revenue: €292.3m (up 46% from FY 2022). Net income: €28.1m (up €34.1m from FY 2022). Profit margin: 9.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany.New Risk • Mar 12New major risk - Revenue and earnings growthEarnings have declined by 51% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Earnings have declined by 51% per year over the past 5 years.Reported Earnings • Nov 19Third quarter 2023 earnings released: EPS: €0.073 (vs €0.23 in 3Q 2022)Third quarter 2023 results: EPS: €0.073 (down from €0.23 in 3Q 2022). Revenue: €62.9m (up 23% from 3Q 2022). Net income: €1.94m (down 59% from 3Q 2022). Profit margin: 3.1% (down from 9.2% in 3Q 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany.Buying Opportunity • Nov 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 16%. The fair value is estimated to be €10.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 54% over the last year. Meanwhile, the company became loss making.Board Change • Oct 19Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (9 non-independent directors). Chairman & CEO Andrea Sasso was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.New Risk • Sep 20New major risk - Revenue and earnings growthEarnings have declined by 53% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 53% per year over the past 5 years.공시 • Sep 20Italian Design Brands S.p.A. (BIT:IDB) reached an agreement to acquire 51% stake in Turri Srl.Italian Design Brands S.p.A. (BIT:IDB) reached an agreement to acquire 51% stake in Turri Srl on September 19, 2023. Andrea Turri will reinvest in the transaction as a minority shareholder and remain Chief Executive Officer of Turri. The transaction will be financed through IDB’s own means for approximately €5 million and with recourse to financial debt. Turri has reported revenue of €28.1 million and EBITDA of approximately €4 million in 2022. Marco Franzini of Grimaldi Studio Legale acted as legal advisor, Luciana Sist and Stefano Brunello of EY S.p.A. acted as financial and tax due diligence provider, Marco Valdonio of Maisto e Associati acted as legal advisor to Italian Design Brands. Marco Nicolini of Chiomenti Studio Legale acted as legal advisor and Roberto Bonacina and Jacopo de Maio of Ethica Holding S.p.A. acted as financial advisor to Andrea Turri.Reported Earnings • Sep 14Second quarter 2023 earnings released: EPS: €0.16 (vs €0.19 in 2Q 2022)Second quarter 2023 results: EPS: €0.16. Revenue: €72.4m (up 43% from 2Q 2022). Net income: €4.21m (up 8.2% from 2Q 2022). Profit margin: 5.8% (down from 7.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Germany.New Risk • Jun 22New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Shares are highly illiquid. Earnings have declined by 43% per year over the past 5 years.New Risk • Jun 12New major risk - Revenue and earnings growthEarnings have declined by 43% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 43% per year over the past 5 years. Minor Risk High level of debt (57% net debt to equity).New Risk • Jun 10New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 74% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk High level of debt (74% net debt to equity).이익 및 매출 성장 예측DB:QZ2 - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202844982431112/31/202740051225112/31/2026381231713/31/2026332-19415N/A12/31/2025320-18515N/A9/30/20253154-63N/A6/30/20253319411N/A3/31/2025324152025N/A12/31/2024324183339N/A9/30/2024320243744N/A6/30/2024305232837N/A3/31/2024300271422N/A12/31/2023290281320N/A9/30/2023265-81217N/A6/30/2023250-51418N/A3/31/2023228-52730N/A12/31/2022200-62326N/A9/30/2022175131214N/A6/30/2022163122325N/A3/31/2022146101416N/A12/31/2021145112628N/A12/31/202011191720N/A12/31/20191337N/A7N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: QZ2 은 향후 3년 동안 수익을 낼 것으로 예상되며, 이는 절약률(1.9%)보다 빠른 성장으로 간주됩니다.수익 vs 시장: QZ2 (는) 향후 3년 동안 평균 시장 성장보다 높은 수익을 올릴 것으로 예상됩니다.고성장 수익: QZ2 향후 3년 내에 수익을 낼 것으로 예상됩니다.수익 대 시장: QZ2 의 수익(연간 7.4%)이 German 시장(연간 6.8%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: QZ2 의 수익(연간 7.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: QZ2의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YConsumer-durables 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/26 12:43종가2026/05/26 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 소스Dexelance S.p.A.는 6명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Carmen NovelBanca Akros S.p.A. (ESN)Vandita Sood ChowdharyCitigroup IncLuigi De BellisEquita SIM S.p.A.3명의 분석가 더 보기
Board Change • May 20Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (8 non-independent directors). Chairman & CEO Andrea Sasso was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
공시 • Sep 04+ 1 more updateDexelance S.p.A. to Report First Half, 2025 Results on Sep 09, 2025Dexelance S.p.A. announced that they will report first half, 2025 results on Sep 09, 2025
공시 • Jul 24Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Flexalighting Srl for €9.6 million.Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Flexalighting Srl for €9.6 million on July 22, 2025. A cash consideration of €9.6 million will be paid by Dexelance S.p.A. Following its completion, Dexelance now holds 100.0% of Flexalighting's share capital. The transaction is financed by Dexelance through financial debt of approximately Euro 6.8 million and, for the remaining portion, with its own means. Roberto Mantovani, who also took on the role of CEO of Axolight in October 2024, will continue to serve as Chairman and CEO of Flexalighting. For the period ending December 31, 2024, Flexalighting Srl reported total revenue of €11 million. Dexelance S.p.A. (BIT:DEX) completed the acquisition of remaining 49% stake in Flexalighting Srl on July 22, 2025.
공시 • Mar 18Dexelance S.p.A., Annual General Meeting, Apr 16, 2025Dexelance S.p.A., Annual General Meeting, Apr 16, 2025, at 11:00 W. Europe Standard Time.
공시 • Oct 15Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Axo Light srl.Dexelance S.p.A. (BIT:DEX) acquired remaining 49% stake in Axo Light srl on October 15, 2024. The overall transaction in Axolight, which was fully financed by Dexelance with its own funds, took place with an equity value of approximately €3.2 million, of which approximately €1.2 million was used for the acquisition of the remaining minority stake. For the period ending December 31, 2023, Axo Light srl reported total revenue of €5 million. Roberto Mantovani, currently CEO of Flexalighting and experienced entrepreneur in the lighting market, will also take on the role as Axolight's new CEO. Dexelance S.p.A. (BIT:DEX) completed the acquisition of remaining 49% stake in Axo Light srl on October 15, 2024.
Reported Earnings • Sep 11Second quarter 2024 earnings released: EPS: €0.027 (vs €0.16 in 2Q 2023)Second quarter 2024 results: EPS: €0.027 (down from €0.16 in 2Q 2023). Revenue: €80.9m (up 12% from 2Q 2023). Net income: €715.0k (down 83% from 2Q 2023). Profit margin: 0.9% (down from 5.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany.
New Risk • Jun 14New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.7% 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 Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future.
New Risk • Jun 10New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future.
Reported Earnings • Mar 13Full year 2023 earnings released: EPS: €1.05 (vs €0.29 loss in FY 2022)Full year 2023 results: EPS: €1.05 (up from €0.29 loss in FY 2022). Revenue: €292.3m (up 46% from FY 2022). Net income: €28.1m (up €34.1m from FY 2022). Profit margin: 9.6% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany.
New Risk • Mar 12New major risk - Revenue and earnings growthEarnings have declined by 51% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Earnings have declined by 51% per year over the past 5 years.
Reported Earnings • Nov 19Third quarter 2023 earnings released: EPS: €0.073 (vs €0.23 in 3Q 2022)Third quarter 2023 results: EPS: €0.073 (down from €0.23 in 3Q 2022). Revenue: €62.9m (up 23% from 3Q 2022). Net income: €1.94m (down 59% from 3Q 2022). Profit margin: 3.1% (down from 9.2% in 3Q 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany.
Buying Opportunity • Nov 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 16%. The fair value is estimated to be €10.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 54% over the last year. Meanwhile, the company became loss making.
Board Change • Oct 19Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 3 independent directors (9 non-independent directors). Chairman & CEO Andrea Sasso was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
New Risk • Sep 20New major risk - Revenue and earnings growthEarnings have declined by 53% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings have declined by 53% per year over the past 5 years.
공시 • Sep 20Italian Design Brands S.p.A. (BIT:IDB) reached an agreement to acquire 51% stake in Turri Srl.Italian Design Brands S.p.A. (BIT:IDB) reached an agreement to acquire 51% stake in Turri Srl on September 19, 2023. Andrea Turri will reinvest in the transaction as a minority shareholder and remain Chief Executive Officer of Turri. The transaction will be financed through IDB’s own means for approximately €5 million and with recourse to financial debt. Turri has reported revenue of €28.1 million and EBITDA of approximately €4 million in 2022. Marco Franzini of Grimaldi Studio Legale acted as legal advisor, Luciana Sist and Stefano Brunello of EY S.p.A. acted as financial and tax due diligence provider, Marco Valdonio of Maisto e Associati acted as legal advisor to Italian Design Brands. Marco Nicolini of Chiomenti Studio Legale acted as legal advisor and Roberto Bonacina and Jacopo de Maio of Ethica Holding S.p.A. acted as financial advisor to Andrea Turri.
Reported Earnings • Sep 14Second quarter 2023 earnings released: EPS: €0.16 (vs €0.19 in 2Q 2022)Second quarter 2023 results: EPS: €0.16. Revenue: €72.4m (up 43% from 2Q 2022). Net income: €4.21m (up 8.2% from 2Q 2022). Profit margin: 5.8% (down from 7.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Germany.
New Risk • Jun 22New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Shares are highly illiquid. Earnings have declined by 43% per year over the past 5 years.
New Risk • Jun 12New major risk - Revenue and earnings growthEarnings have declined by 43% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 43% per year over the past 5 years. Minor Risk High level of debt (57% net debt to equity).
New Risk • Jun 10New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 74% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk High level of debt (74% net debt to equity).