Board Change • Mar 07
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 1 experienced director. No highly experienced directors. 1 independent director (4 non-independent directors). Member of the Board of Statutory Auditors Antonio Fortarezza is the most experienced director on the board, commencing their role in 2023. Independent Director Francesco de Leva was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Feb 06
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 1 experienced director. No highly experienced directors. 1 independent director (4 non-independent directors). Member of the Board of Statutory Auditors Antonio Fortarezza is the most experienced director on the board, commencing their role in 2023. Independent Director Francesco de Leva was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Aug 15
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). Director Stefano Cervone is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Jul 06
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). Director Stefano Cervone is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Jun 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Earnings have declined by 73% per year over the past 5 years. Market cap is less than US$10m (€100.2k market cap, or US$109.1k). Minor Risk Shareholders have been diluted in the past year (15% increase in shares outstanding). Board Change • Apr 20
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 4 experienced directors. No highly experienced directors. 1 independent director (6 non-independent directors). Director Stefano Cervone is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Buying Opportunity • Feb 07
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €1.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Board Change • Jan 31
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 1 independent director. 6 non-independent directors. Chairman of the Board of Statutory Auditors Francesco Molinari was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Jan 13
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 1 independent director. 6 non-independent directors. Chairman of the Board of Statutory Auditors Francesco Molinari was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • Nov 21
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 1 independent director. 6 non-independent directors. Chairman of the Board of Statutory Auditors Francesco Molinari was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 05
First half 2022 earnings released: EPS: €0 (vs €0 in 1H 2021) First half 2022 results: EPS: €0 (in line with 1H 2021). Revenue: €13.6m (up 2.4% from 1H 2021). Net loss: €463.0k (down 177% from profit in 1H 2021). Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in Germany. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 15% share price gain to €3.00, the stock trades at a trailing P/E ratio of 22.3x. Average forward P/E is 16x in the Entertainment industry in Germany. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €3.46, the stock trades at a trailing P/E ratio of 25.8x. Average forward P/E is 16x in the Entertainment industry in Germany. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €4.92, the stock trades at a trailing P/E ratio of 7.1x. Average forward P/E is 16x in the Entertainment industry in Germany. Board Change • Apr 29
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.