View ValuationHigh 향후 성장Future 기준 점검 4/6High (는) 각각 연간 20.7% 및 11.9% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 20.4% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 13.2% 로 예상됩니다.핵심 정보20.7%이익 성장률20.45%EPS 성장률Media 이익 성장28.2%매출 성장률11.9%향후 자기자본이익률13.20%애널리스트 커버리지Low마지막 업데이트23 Apr 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesDeclared Dividend • Apr 27Final dividend of €0.25 announcedShareholders will receive a dividend of €0.25. Ex-date: 1st June 2026 Payment date: 3rd June 2026 Dividend yield will be 34%, which is higher than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover.공지 • Apr 21+ 1 more updateHigh Co. SA announces Annual dividend, payable on June 03, 2026High Co. SA announced Annual dividend of EUR 0.2500 per share payable on June 03, 2026, ex-date on June 01, 2026 and record date on June 02, 2026.Reported Earnings • Mar 29Full year 2025 earnings released: EPS: €0.22 (vs €0.39 in FY 2024)Full year 2025 results: EPS: €0.22 (down from €0.39 in FY 2024). Revenue: €98.7m (down 33% from FY 2024). Net income: €4.24m (down 45% from FY 2024). Profit margin: 4.3% (down from 5.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Feb 25Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €3.75, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Media industry in Germany. Total returns to shareholders of 13% over the past three years.New Risk • Jan 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. 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 (4.0% net profit margin). Market cap is less than US$100m (€76.2m market cap, or US$91.1m).공지 • Jan 29+ 4 more updatesHigh Co. SA to Report Q3, 2026 Results on Oct 21, 2026High Co. SA announced that they will report Q3, 2026 results After-Market on Oct 21, 2026공지 • Jan 28High Co. SA to Report Q1, 2026 Results on Apr 22, 2026High Co. SA announced that they will report Q1, 2026 results After-Market on Apr 22, 2026New Risk • Oct 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.0% 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 1.0% per year for the foreseeable future. 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 (7.7% average weekly change). Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (€77.9m market cap, or US$90.8m).New Risk • Sep 18New 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 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (€79.2m market cap, or US$93.3m).Reported Earnings • Sep 14First half 2025 earnings released: EPS: €0.17 (vs €0.34 in 1H 2024)First half 2025 results: EPS: €0.17 (down from €0.34 in 1H 2024). Revenue: €45.0m (down 42% from 1H 2024). Net income: €3.24m (down 51% from 1H 2024). Profit margin: 7.2% (down from 8.6% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 5.6% p.a. on average during the next 3 years, while revenues in the Media industry in Germany are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.New Risk • Sep 12New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.0% Last year net profit margin: 7.7% 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 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 (4.0% net profit margin). Market cap is less than US$100m (€75.9m market cap, or US$88.9m).Valuation Update With 7 Day Price Move • Sep 04Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to €3.61, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Media industry in Germany. Total returns to shareholders of 22% over the past three years.Upcoming Dividend • Aug 27Upcoming dividend of €1.00 per shareEligible shareholders must have bought the stock before 03 September 2025. Payment date: 05 September 2025. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.9%).Upcoming Dividend • May 16Upcoming dividend of €0.25 per shareEligible shareholders must have bought the stock before 23 May 2025. Payment date: 27 May 2025. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 6.9%. Within top quartile of German dividend payers (4.4%). Higher than average of industry peers (3.8%).Reported Earnings • Apr 23Full year 2024 earnings released: EPS: €0.39 (vs €0.53 in FY 2023)Full year 2024 results: EPS: €0.39 (down from €0.53 in FY 2023). Revenue: €146.4m (flat on FY 2023). Net income: €7.75m (down 27% from FY 2023). Profit margin: 5.3% (down from 7.3% in FY 2023). Revenue is expected to decline by 4.8% p.a. on average during the next 3 years, while revenues in the Media industry in Germany are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.New Risk • Apr 06New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (€55.4m market cap, or US$60.7m).Declared Dividend • Mar 31Dividend increased to €0.25Dividend of €0.25 is 25% higher than last year. Ex-date: 23rd May 2025 Payment date: 27th May 2025 Dividend yield will be 8.0%, which is higher than the industry average of 5.1%. Sustainability & Growth The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 67% over the next 3 years. Since a fall of 61% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.공지 • Mar 29High Co. SA, Annual General Meeting, May 19, 2025High Co. SA, Annual General Meeting, May 19, 2025.공지 • Mar 27+ 1 more updateHigh Co. SA Proposes Exceptional DividendHigh Co. SA announced that the income from this disposal should enable the company to propose an exceptional dividend of €1 per share as a result of the sale.Valuation Update With 7 Day Price Move • Mar 20Investor sentiment improves as stock rises 19%After last week's 19% share price gain to €3.14, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Media industry in Germany. Total loss to shareholders of 33% over the past three years.공지 • Mar 20A group of investors including Albarest Partners SAS and Guillaume Guttin has entered into an agreement to acquire 51% stake in High Connexion from High Co. SA (ENXTPA:HCO).A group of investors including Albarest Partners SAS and Guillaume Guttin has entered into an agreement to acquire 51% stake in High Connexion from High Co. SA (ENXTPA:HCO) on March 19, 2025. For the period ending December 31, 2024, High Connexion reported total revenue of €146.38 million.공지 • Feb 06High Co. SA to Report Fiscal Year 2024 Final Results on Mar 26, 2025High Co. SA announced that they will report fiscal year 2024 final results at 5:40 PM, Central European Standard Time on Mar 26, 2025공지 • Jan 23+ 4 more updatesHigh Co. SA to Report Q4, 2025 Results on Jan 28, 2026High Co. SA announced that they will report Q4, 2025 results After-Market on Jan 28, 2026Buy Or Sell Opportunity • Oct 18Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.0% to €2.58. The fair value is estimated to be €3.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.2%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to decline by 45% in the next 2 years.Reported Earnings • Sep 15First half 2024 earnings releasedFirst half 2024 results: Revenue: €77.0m (flat on 1H 2023). Net income: €6.63m (up 4.5% from 1H 2023). Profit margin: 8.6% (up from 8.3% in 1H 2023). Revenue is expected to decline by 6.5% p.a. on average during the next 3 years, while revenues in the Media industry in Germany are expected to grow by 5.7%.Upcoming Dividend • May 17Upcoming dividend of €0.20 per shareEligible shareholders must have bought the stock before 24 May 2024. Payment date: 28 May 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 6.2%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (5.5%).Buy Or Sell Opportunity • May 17Now 20% undervaluedOver the last 90 days, the stock has risen 20% to €3.22. The fair value is estimated to be €4.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to decline by 6.8% per annum. Earnings are also forecast to decline by 33% per annum over the same time period.Reported Earnings • Apr 18Full year 2023 earnings released: EPS: €0.53 (vs €0.069 in FY 2022)Full year 2023 results: EPS: €0.53 (up from €0.069 in FY 2022). Revenue: €145.4m (flat on FY 2022). Net income: €10.7m (up €9.26m from FY 2022). Profit margin: 7.3% (up from 1.0% in FY 2022). Revenue is expected to decline by 6.8% p.a. on average during the next 3 years, while revenues in the Media industry in Germany are expected to grow by 5.0%. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.Declared Dividend • Apr 05Dividend reduced to €0.20Dividend of €0.20 is 50% lower than last year. Ex-date: 24th May 2024 Payment date: 28th May 2024 Dividend yield will be 7.1%, which is higher than the industry average of 5.1%. Sustainability & Growth The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 301% to bring the payout ratio under control. EPS is expected to grow by 3.1% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.New Risk • Apr 04New 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 Risk Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (€57.4m market cap, or US$62.3m).New Risk • Mar 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 361% Cash payout ratio: 265% Earnings are forecast to decline by an average of 5.3% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (€56.4m market cap, or US$60.8m).공지 • Mar 28+ 1 more updateHigh Co. SA, Annual General Meeting, May 21, 2024High Co. SA, Annual General Meeting, May 21, 2024, at 11:00 Central European Standard Time. Location: head office in Aix-en-Provence Aix-en-Provence France Agenda: To propose a dividend of €0.20 per share with respect to FY 2023,.공지 • Mar 06High Co. SA to Report Q2, 2024 Results on Jul 18, 2024High Co. SA announced that they will report Q2, 2024 results After-Market on Jul 18, 2024Valuation Update With 7 Day Price Move • Jan 26Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €3.15, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Media industry in Europe. Total loss to shareholders of 33% over the past year.공지 • Jan 25+ 3 more updatesHigh Co. SA to Report Q3, 2024 Results on Oct 16, 2024High Co. SA announced that they will report Q3, 2024 results After-Market on Oct 16, 2024Upcoming Dividend • May 17Upcoming dividend of €0.40 per share at 8.0% yieldEligible shareholders must have bought the stock before 24 May 2023. Payment date: 26 May 2023. The company is paying out more than 100% of its profits and is paying out 87% of its cash flow. Trailing yield: 8.0%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (6.5%).공지 • Jan 07+ 5 more updatesHigh Co. SA to Report Fiscal Year 2023 Results on Jan 24, 2024High Co. SA announced that they will report fiscal year 2023 results at 5:40 PM, Central European Standard Time on Jan 24, 2024Reported Earnings • Aug 28First half 2022 earnings released: EPS: €0.29 (vs €0.28 in 1H 2021)First half 2022 results: EPS: €0.29 (up from €0.28 in 1H 2021). Revenue: €72.7m (up 5.0% from 1H 2021). Net income: €5.91m (flat on 1H 2021). Profit margin: 8.1% (down from 8.5% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.3%, compared to a 6.3% growth forecast for the Media industry in Germany.Upcoming Dividend • May 12Upcoming dividend of €0.32 per shareEligible shareholders must have bought the stock before 19 May 2022. Payment date: 23 May 2022. Payout ratio is a comfortable 59% and the cash payout ratio is 88%. Trailing yield: 5.8%. Within top quartile of German dividend payers (4.2%). Lower than average of industry peers (7.3%).Reported Earnings • Apr 27Full year 2021 earnings released: EPS: €0.54 (vs €0.30 in FY 2020)Full year 2021 results: EPS: €0.54 (up from €0.30 in FY 2020). Revenue: €137.4m (flat on FY 2020). Net income: €11.2m (up 76% from FY 2020). Profit margin: 8.1% (up from 4.6% in FY 2020). Over the next year, revenue is forecast to grow 2.6%, compared to a 8.4% growth forecast for the industry in Germany.이익 및 매출 성장 예측BST:HIH - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202814771213112/31/202713471314212/31/2026140379112/31/20259941719N/A9/30/20259141920N/A6/30/202514362121N/A3/31/202514572223N/A12/31/20248652425N/A9/30/202410272728N/A6/30/2024118103132N/A3/31/2024132102122N/A12/31/2023145111113N/A6/30/2023147235N/A3/31/2023146168N/A12/31/202214511011N/A9/30/202214461011N/A6/30/2022141111111N/A3/31/2022139111011N/A12/31/2021137111011N/A6/30/2021138724N/A3/31/20211377912N/A12/31/202013661619N/A6/30/202013871821N/A3/31/202014982124N/A12/31/201916092426N/A9/30/20191759N/A25N/A6/30/20191759N/A24N/A3/31/20191749N/A22N/A12/31/20181749N/A20N/A9/30/20181689N/A14N/A6/30/20181638N/A7N/A3/31/20181568N/A6N/A12/31/20171497N/A5N/A9/30/20171507N/A7N/A6/30/20171517N/A8N/A3/31/20171538N/A12N/A12/31/20161568N/A15N/A6/30/20161568N/A22N/A3/31/20161527N/A18N/A12/31/20151496N/A13N/A9/30/20151475N/A13N/A6/30/20151403N/A13N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: HIH 의 연간 예상 수익 증가율(20.7%)이 saving rate(1.9%)보다 높습니다.수익 vs 시장: HIH 의 연간 수익(20.7%)이 German 시장(16.7%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: HIH 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: HIH 의 수익(연간 11.9%)이 German 시장(연간 6.4%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: HIH 의 수익(연간 11.9%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: HIH의 자본 수익률은 3년 후 13.2%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YMedia 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/08 20:00종가2026/05/08 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 소스High Co. SA는 4명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Stephanie LefebvreGilbert DupontMaud Penillard ServagnatIn Extenso Financement & MarchéEmmanuel MatotODDO BHF Corporate & Markets1명의 분석가 더 보기
Declared Dividend • Apr 27Final dividend of €0.25 announcedShareholders will receive a dividend of €0.25. Ex-date: 1st June 2026 Payment date: 3rd June 2026 Dividend yield will be 34%, which is higher than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
공지 • Apr 21+ 1 more updateHigh Co. SA announces Annual dividend, payable on June 03, 2026High Co. SA announced Annual dividend of EUR 0.2500 per share payable on June 03, 2026, ex-date on June 01, 2026 and record date on June 02, 2026.
Reported Earnings • Mar 29Full year 2025 earnings released: EPS: €0.22 (vs €0.39 in FY 2024)Full year 2025 results: EPS: €0.22 (down from €0.39 in FY 2024). Revenue: €98.7m (down 33% from FY 2024). Net income: €4.24m (down 45% from FY 2024). Profit margin: 4.3% (down from 5.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Feb 25Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €3.75, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 10x in the Media industry in Germany. Total returns to shareholders of 13% over the past three years.
New Risk • Jan 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.3% per year for the foreseeable future. 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 (4.0% net profit margin). Market cap is less than US$100m (€76.2m market cap, or US$91.1m).
공지 • Jan 29+ 4 more updatesHigh Co. SA to Report Q3, 2026 Results on Oct 21, 2026High Co. SA announced that they will report Q3, 2026 results After-Market on Oct 21, 2026
공지 • Jan 28High Co. SA to Report Q1, 2026 Results on Apr 22, 2026High Co. SA announced that they will report Q1, 2026 results After-Market on Apr 22, 2026
New Risk • Oct 16New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.0% 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 1.0% per year for the foreseeable future. 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 (7.7% average weekly change). Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (€77.9m market cap, or US$90.8m).
New Risk • Sep 18New 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 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (€79.2m market cap, or US$93.3m).
Reported Earnings • Sep 14First half 2025 earnings released: EPS: €0.17 (vs €0.34 in 1H 2024)First half 2025 results: EPS: €0.17 (down from €0.34 in 1H 2024). Revenue: €45.0m (down 42% from 1H 2024). Net income: €3.24m (down 51% from 1H 2024). Profit margin: 7.2% (down from 8.6% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 5.6% p.a. on average during the next 3 years, while revenues in the Media industry in Germany are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings.
New Risk • Sep 12New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.0% Last year net profit margin: 7.7% 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 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 (4.0% net profit margin). Market cap is less than US$100m (€75.9m market cap, or US$88.9m).
Valuation Update With 7 Day Price Move • Sep 04Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to €3.61, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Media industry in Germany. Total returns to shareholders of 22% over the past three years.
Upcoming Dividend • Aug 27Upcoming dividend of €1.00 per shareEligible shareholders must have bought the stock before 03 September 2025. Payment date: 05 September 2025. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.9%).
Upcoming Dividend • May 16Upcoming dividend of €0.25 per shareEligible shareholders must have bought the stock before 23 May 2025. Payment date: 27 May 2025. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 6.9%. Within top quartile of German dividend payers (4.4%). Higher than average of industry peers (3.8%).
Reported Earnings • Apr 23Full year 2024 earnings released: EPS: €0.39 (vs €0.53 in FY 2023)Full year 2024 results: EPS: €0.39 (down from €0.53 in FY 2023). Revenue: €146.4m (flat on FY 2023). Net income: €7.75m (down 27% from FY 2023). Profit margin: 5.3% (down from 7.3% in FY 2023). Revenue is expected to decline by 4.8% p.a. on average during the next 3 years, while revenues in the Media industry in Germany are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings.
New Risk • Apr 06New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (€55.4m market cap, or US$60.7m).
Declared Dividend • Mar 31Dividend increased to €0.25Dividend of €0.25 is 25% higher than last year. Ex-date: 23rd May 2025 Payment date: 27th May 2025 Dividend yield will be 8.0%, which is higher than the industry average of 5.1%. Sustainability & Growth The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 67% over the next 3 years. Since a fall of 61% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
공지 • Mar 29High Co. SA, Annual General Meeting, May 19, 2025High Co. SA, Annual General Meeting, May 19, 2025.
공지 • Mar 27+ 1 more updateHigh Co. SA Proposes Exceptional DividendHigh Co. SA announced that the income from this disposal should enable the company to propose an exceptional dividend of €1 per share as a result of the sale.
Valuation Update With 7 Day Price Move • Mar 20Investor sentiment improves as stock rises 19%After last week's 19% share price gain to €3.14, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Media industry in Germany. Total loss to shareholders of 33% over the past three years.
공지 • Mar 20A group of investors including Albarest Partners SAS and Guillaume Guttin has entered into an agreement to acquire 51% stake in High Connexion from High Co. SA (ENXTPA:HCO).A group of investors including Albarest Partners SAS and Guillaume Guttin has entered into an agreement to acquire 51% stake in High Connexion from High Co. SA (ENXTPA:HCO) on March 19, 2025. For the period ending December 31, 2024, High Connexion reported total revenue of €146.38 million.
공지 • Feb 06High Co. SA to Report Fiscal Year 2024 Final Results on Mar 26, 2025High Co. SA announced that they will report fiscal year 2024 final results at 5:40 PM, Central European Standard Time on Mar 26, 2025
공지 • Jan 23+ 4 more updatesHigh Co. SA to Report Q4, 2025 Results on Jan 28, 2026High Co. SA announced that they will report Q4, 2025 results After-Market on Jan 28, 2026
Buy Or Sell Opportunity • Oct 18Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.0% to €2.58. The fair value is estimated to be €3.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.2%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to decline by 45% in the next 2 years.
Reported Earnings • Sep 15First half 2024 earnings releasedFirst half 2024 results: Revenue: €77.0m (flat on 1H 2023). Net income: €6.63m (up 4.5% from 1H 2023). Profit margin: 8.6% (up from 8.3% in 1H 2023). Revenue is expected to decline by 6.5% p.a. on average during the next 3 years, while revenues in the Media industry in Germany are expected to grow by 5.7%.
Upcoming Dividend • May 17Upcoming dividend of €0.20 per shareEligible shareholders must have bought the stock before 24 May 2024. Payment date: 28 May 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 6.2%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (5.5%).
Buy Or Sell Opportunity • May 17Now 20% undervaluedOver the last 90 days, the stock has risen 20% to €3.22. The fair value is estimated to be €4.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to decline by 6.8% per annum. Earnings are also forecast to decline by 33% per annum over the same time period.
Reported Earnings • Apr 18Full year 2023 earnings released: EPS: €0.53 (vs €0.069 in FY 2022)Full year 2023 results: EPS: €0.53 (up from €0.069 in FY 2022). Revenue: €145.4m (flat on FY 2022). Net income: €10.7m (up €9.26m from FY 2022). Profit margin: 7.3% (up from 1.0% in FY 2022). Revenue is expected to decline by 6.8% p.a. on average during the next 3 years, while revenues in the Media industry in Germany are expected to grow by 5.0%. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings.
Declared Dividend • Apr 05Dividend reduced to €0.20Dividend of €0.20 is 50% lower than last year. Ex-date: 24th May 2024 Payment date: 28th May 2024 Dividend yield will be 7.1%, which is higher than the industry average of 5.1%. Sustainability & Growth The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 301% to bring the payout ratio under control. EPS is expected to grow by 3.1% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
New Risk • Apr 04New 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 Risk Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (€57.4m market cap, or US$62.3m).
New Risk • Mar 29New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 5.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 361% Cash payout ratio: 265% Earnings are forecast to decline by an average of 5.3% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (€56.4m market cap, or US$60.8m).
공지 • Mar 28+ 1 more updateHigh Co. SA, Annual General Meeting, May 21, 2024High Co. SA, Annual General Meeting, May 21, 2024, at 11:00 Central European Standard Time. Location: head office in Aix-en-Provence Aix-en-Provence France Agenda: To propose a dividend of €0.20 per share with respect to FY 2023,.
공지 • Mar 06High Co. SA to Report Q2, 2024 Results on Jul 18, 2024High Co. SA announced that they will report Q2, 2024 results After-Market on Jul 18, 2024
Valuation Update With 7 Day Price Move • Jan 26Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €3.15, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Media industry in Europe. Total loss to shareholders of 33% over the past year.
공지 • Jan 25+ 3 more updatesHigh Co. SA to Report Q3, 2024 Results on Oct 16, 2024High Co. SA announced that they will report Q3, 2024 results After-Market on Oct 16, 2024
Upcoming Dividend • May 17Upcoming dividend of €0.40 per share at 8.0% yieldEligible shareholders must have bought the stock before 24 May 2023. Payment date: 26 May 2023. The company is paying out more than 100% of its profits and is paying out 87% of its cash flow. Trailing yield: 8.0%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (6.5%).
공지 • Jan 07+ 5 more updatesHigh Co. SA to Report Fiscal Year 2023 Results on Jan 24, 2024High Co. SA announced that they will report fiscal year 2023 results at 5:40 PM, Central European Standard Time on Jan 24, 2024
Reported Earnings • Aug 28First half 2022 earnings released: EPS: €0.29 (vs €0.28 in 1H 2021)First half 2022 results: EPS: €0.29 (up from €0.28 in 1H 2021). Revenue: €72.7m (up 5.0% from 1H 2021). Net income: €5.91m (flat on 1H 2021). Profit margin: 8.1% (down from 8.5% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.3%, compared to a 6.3% growth forecast for the Media industry in Germany.
Upcoming Dividend • May 12Upcoming dividend of €0.32 per shareEligible shareholders must have bought the stock before 19 May 2022. Payment date: 23 May 2022. Payout ratio is a comfortable 59% and the cash payout ratio is 88%. Trailing yield: 5.8%. Within top quartile of German dividend payers (4.2%). Lower than average of industry peers (7.3%).
Reported Earnings • Apr 27Full year 2021 earnings released: EPS: €0.54 (vs €0.30 in FY 2020)Full year 2021 results: EPS: €0.54 (up from €0.30 in FY 2020). Revenue: €137.4m (flat on FY 2020). Net income: €11.2m (up 76% from FY 2020). Profit margin: 8.1% (up from 4.6% in FY 2020). Over the next year, revenue is forecast to grow 2.6%, compared to a 8.4% growth forecast for the industry in Germany.