View ValuationCairo Communication 향후 성장Future 기준 점검 0/6Cairo Communication 의 수익과 수익은 각각 연간 0.7% 및 2.2% 감소할 것으로 예상됩니다 while EPS는 연간 2.2% 만큼 쇠퇴할 것으로 예상됩니다.핵심 정보-2.2%이익 성장률-2.16%EPS 성장률Media 이익 성장29.5%매출 성장률-0.7%향후 자기자본이익률n/a애널리스트 커버리지Low마지막 업데이트13 May 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesReported Earnings • May 21First quarter 2026 earnings releasedFirst quarter 2026 results: €0.023 loss per share. Revenue: €229.6m (down 1.7% from 1Q 2025). Net loss: €2.80m (loss widened 33% from 1Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 3.7% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year.Board Change • May 20Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Valentina Manfredi 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. Insufficient board refreshment.공시 • Mar 30Cairo Communication S.p.A., Annual General Meeting, May 07, 2026Cairo Communication S.p.A., Annual General Meeting, May 07, 2026, at 11:00 W. Europe Standard Time. Location: via angelo rizzoli n 8, milano Italy공시 • Mar 26Cairo Communication S.p.A. announces Annual dividend, payable on May 27, 2026Cairo Communication S.p.A. announced Annual dividend of EUR 0.1800 per share payable on May 27, 2026, ex-date on May 25, 2026 and record date on May 26, 2026.Reported Earnings • Nov 17Third quarter 2024 earnings releasedThird quarter 2024 results: €0.027 loss per share. Revenue: €218.5m (flat on 3Q 2023). Net loss: €3.60m (loss narrowed 29% from 3Q 2023). Revenue is expected to decline by 1.7% p.a. on average during the next 2 years, while revenues in the Media industry in Germany are expected to grow by 4.5%.Reported Earnings • Aug 09Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €333.6m (up 2.3% from 2Q 2023). Net income: €22.3m (up 18% from 2Q 2023). Profit margin: 6.7% (up from 5.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Media industry in Germany.Valuation Update With 7 Day Price Move • May 30Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €2.03, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Media industry in Germany. Total returns to shareholders of 41% over the past three years.Upcoming Dividend • May 20Upcoming dividend of €0.16 per shareEligible shareholders must have bought the stock before 27 May 2024. Payment date: 29 May 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 6.7%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (5.3%).Reported Earnings • May 17First quarter 2024 earnings releasedFirst quarter 2024 results: €0.015 loss per share. Revenue: €232.1m (down 4.7% from 1Q 2023). Net loss: €2.00m (loss narrowed 33% from 1Q 2023). Revenue is forecast to stay flat during the next 2 years compared to a 5.1% growth forecast for the Media industry in Germany.New Risk • May 08New major risk - Revenue and earnings growthEarnings have declined by 5.8% 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 Risk Earnings have declined by 5.8% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Declared Dividend • Apr 08Dividend of €0.16 announcedShareholders will receive a dividend of €0.16. Ex-date: 27th May 2024 Payment date: 29th May 2024 Dividend yield will be 7.8%, which is higher than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 3.1% over the next 2 years. However, it would need to fall by 38% to increase the payout ratio to a potentially unsustainable range.Reported Earnings • Mar 31Full year 2023 earnings releasedFull year 2023 results: Revenue: €1.10b (down 1.4% from FY 2022). Net income: €38.4m (up 20% from FY 2022). Profit margin: 3.5% (up from 2.9% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Media industry in Germany.New Risk • Mar 18New major risk - Revenue and earnings growthEarnings have declined by 9.2% 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 Risk Earnings have declined by 9.2% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows.Reported Earnings • Nov 17Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: €218.0m (down 6.1% from 3Q 2022). Net loss: €5.10m (loss widened 70% from 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Media industry in Germany.Reported Earnings • Aug 08Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €326.1m (flat on 2Q 2022). Net income: €18.9m (up 33% from 2Q 2022). Profit margin: 5.8% (up from 4.3% in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 5.0% growth forecast for the Media industry in Germany.Upcoming Dividend • May 22Upcoming dividend of €0.14 per share at 7.7% yieldEligible shareholders must have bought the stock before 29 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 59% but the company is paying out more than the cash it is generating. Trailing yield: 7.7%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (6.5%).Buying Opportunity • May 15Now 20% undervaluedOver the last 90 days, the stock is up 6.0%. The fair value is estimated to be €2.30, 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 15%. For the next 3 years, revenue is forecast to grow by 0.1% per annum. Earnings is also forecast to grow by 7.0% per annum over the same time period.Reported Earnings • Mar 29Full year 2022 earnings releasedFull year 2022 results: Revenue: €1.11b (flat on FY 2021). Net income: €32.1m (down 37% from FY 2021). Profit margin: 2.9% (down from 4.6% in FY 2021). Revenue is forecast to stay flat during the next 2 years compared to a 4.3% growth forecast for the Media industry in Germany.Board Change • Nov 16Less 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. 6 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Non-Executive Director Laura Cairo was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Buying Opportunity • Nov 03Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 9.7%. The fair value is estimated to be €2.01, 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 2.8%. Revenue is forecast to decline by 1.2% in 2 years. Earnings is forecast to grow by 9.8% in the next 2 years.Reported Earnings • Aug 08Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €328.6m (up 3.3% from 2Q 2021). Net income: €14.2m (down 50% from 2Q 2021). Profit margin: 4.3% (down from 8.9% 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 8.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 16Upcoming dividend of €0.18 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 8.1%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (7.2%).Board Change • Apr 27Less 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. 6 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Non-Executive Director Laura Cairo was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Reported Earnings • Mar 28Full year 2021 earnings releasedFull year 2021 results: Revenue: €1.11b (up 12% from FY 2020). Net income: €51.0m (up 209% from FY 2020). Profit margin: 4.6% (up from 1.7% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 1.6% compared to a 10% growth forecast for the industry in Germany.Reported Earnings • Nov 18Third quarter 2021 earnings released: EPS €0.032The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €239.7m (up 6.0% from 3Q 2020). Net income: €4.30m (up 231% from 3Q 2020). Profit margin: 1.8% (up from 0.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year and the company’s share price has also fallen by 9% per year.Reported Earnings • Aug 09Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €318.0m (up 55% from 2Q 2020). Net income: €28.4m (up €34.1m from 2Q 2020). Profit margin: 8.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue.Reported Earnings • May 19First quarter 2021 earnings releasedThe company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: €234.5m (up 2.9% from 1Q 2020). Net loss: €3.90m (loss narrowed 44% from 1Q 2020).Upcoming Dividend • May 17Upcoming dividend of €0.04 per shareEligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (4.0%).Reported Earnings • Mar 30Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €988.1m (down 16% from FY 2019). Net income: €16.5m (down 61% from FY 2019). Profit margin: 1.7% (down from 3.6% in FY 2019).Valuation Update With 7 Day Price Move • Mar 23Investor sentiment improved over the past weekAfter last week's 17% share price gain to €1.65, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 25x in the Media industry in Germany. Total returns to shareholders of 8.5% over the past year.Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improved over the past weekAfter last week's 18% share price gain to €1.38, the stock is trading at a trailing P/E ratio of 36.4x, up from the previous P/E ratio of 30.9x. This compares to an average P/E of 27x in the Media industry in Germany. Total return to shareholders over the past year is a loss of 44%.Is New 90 Day High Low • Feb 10New 90-day high: €1.28The company is up 14% from its price of €1.13 on 11 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.70 per share.Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS €0.01The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €226.1m (down 10% from 3Q 2019). Net income: €1.30m (up €2.00m from 3Q 2019). Profit margin: 0.6% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses.Analyst Estimate Surprise Post Earnings • Nov 14Revenue beats expectationsRevenue exceeded analyst estimates by 0.5%. Over the next year, revenue is forecast to grow 5.6%, compared to a 2.7% growth forecast for the Media industry in Germany.Is New 90 Day High Low • Oct 16New 90-day low: €1.19The company is down 20% from its price of €1.48 on 17 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.02 per share.이익 및 매출 성장 예측DB:CI1A - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20281,0413738N/A112/31/20271,0493738N/A112/31/20261,0643738N/A13/31/20261,05939N/AN/AN/A12/31/20251,0634070116N/A9/30/20251,07945N/AN/AN/A6/30/20251,09145111155N/A3/31/20251,09745N/AN/AN/A12/31/20241,0954584120N/A9/30/20241,09344N/AN/AN/A6/30/20241,0934390127N/A3/31/20241,08639N/AN/AN/A12/31/20231,0973868107N/A9/30/20231,10135N/AN/AN/A6/30/20231,11537-2472N/A3/31/20231,11632N/AN/AN/A12/31/20221,1133211103N/A9/30/20221,11831N/AN/AN/A6/30/20221,12638119153N/A3/31/20221,11652N/AN/AN/A12/31/20211,11051129161N/A9/30/20211,12257N/AN/AN/A6/30/20211,1085496122N/A3/31/202199520N/AN/AN/A12/31/20209881779104N/A9/30/20209797N/AN/AN/A6/30/20201,0055102125N/A3/31/20201,13932N/AN/AN/A12/31/20191,18242N/A146N/A9/30/20191,20352N/AN/AN/A6/30/20191,21755N/A142N/A3/31/20191,23460N/AN/AN/A12/31/20181,24760N/A116N/A9/30/20181,21366N/AN/AN/A6/30/20181,18162N/A120N/A3/31/20181,14957N/AN/AN/A12/31/20171,13552N/A97N/A9/30/20171,16334N/AN/AN/A6/30/20171,05637N/A69N/A3/31/201779718N/AN/AN/A12/31/201658322N/A56N/A9/30/201631610N/AN/AN/A6/30/201623610N/A11N/A3/31/201623511N/AN/AN/A12/31/201523611N/A14N/A9/30/201524111N/AN/AN/A6/30/201524415N/A28N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: CI1A 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -2.2%).수익 vs 시장: CI1A 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -2.2%).고성장 수익: CI1A 의 수익은 향후 3년간 감소할 것으로 예상됩니다.수익 대 시장: CI1A 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -0.7%).고성장 매출: CI1A 의 수익은 향후 3년 동안 감소할 것으로 예상됩니다(연간 -0.7%).주당순이익 성장 예측향후 자기자본이익률미래 ROE: CI1A의 자본 수익률이 3년 후 높을 것으로 예상되는지 판단하기에 데이터가 부족합니다.성장 기업 찾아보기7D1Y7D1Y7D1YMedia 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/24 01:35종가2026/05/22 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 소스Cairo Communication S.p.A.는 5명의 분석가가 다루고 있습니다. 이 중 1명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Andrea DevitaBanca Akros S.p.A. (ESN)Domenico GhilottiEquita SIM S.p.A.null nullEquita SIM S.p.A.2명의 분석가 더 보기
Reported Earnings • May 21First quarter 2026 earnings releasedFirst quarter 2026 results: €0.023 loss per share. Revenue: €229.6m (down 1.7% from 1Q 2025). Net loss: €2.80m (loss widened 33% from 1Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 3.7% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 10% per year.
Board Change • May 20Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Director Valentina Manfredi 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. Insufficient board refreshment.
공시 • Mar 30Cairo Communication S.p.A., Annual General Meeting, May 07, 2026Cairo Communication S.p.A., Annual General Meeting, May 07, 2026, at 11:00 W. Europe Standard Time. Location: via angelo rizzoli n 8, milano Italy
공시 • Mar 26Cairo Communication S.p.A. announces Annual dividend, payable on May 27, 2026Cairo Communication S.p.A. announced Annual dividend of EUR 0.1800 per share payable on May 27, 2026, ex-date on May 25, 2026 and record date on May 26, 2026.
Reported Earnings • Nov 17Third quarter 2024 earnings releasedThird quarter 2024 results: €0.027 loss per share. Revenue: €218.5m (flat on 3Q 2023). Net loss: €3.60m (loss narrowed 29% from 3Q 2023). Revenue is expected to decline by 1.7% p.a. on average during the next 2 years, while revenues in the Media industry in Germany are expected to grow by 4.5%.
Reported Earnings • Aug 09Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €333.6m (up 2.3% from 2Q 2023). Net income: €22.3m (up 18% from 2Q 2023). Profit margin: 6.7% (up from 5.8% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Media industry in Germany.
Valuation Update With 7 Day Price Move • May 30Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to €2.03, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Media industry in Germany. Total returns to shareholders of 41% over the past three years.
Upcoming Dividend • May 20Upcoming dividend of €0.16 per shareEligible shareholders must have bought the stock before 27 May 2024. Payment date: 29 May 2024. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 6.7%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (5.3%).
Reported Earnings • May 17First quarter 2024 earnings releasedFirst quarter 2024 results: €0.015 loss per share. Revenue: €232.1m (down 4.7% from 1Q 2023). Net loss: €2.00m (loss narrowed 33% from 1Q 2023). Revenue is forecast to stay flat during the next 2 years compared to a 5.1% growth forecast for the Media industry in Germany.
New Risk • May 08New major risk - Revenue and earnings growthEarnings have declined by 5.8% 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 Risk Earnings have declined by 5.8% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Declared Dividend • Apr 08Dividend of €0.16 announcedShareholders will receive a dividend of €0.16. Ex-date: 27th May 2024 Payment date: 29th May 2024 Dividend yield will be 7.8%, which is higher than the industry average of 5.1%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 3.1% over the next 2 years. However, it would need to fall by 38% to increase the payout ratio to a potentially unsustainable range.
Reported Earnings • Mar 31Full year 2023 earnings releasedFull year 2023 results: Revenue: €1.10b (down 1.4% from FY 2022). Net income: €38.4m (up 20% from FY 2022). Profit margin: 3.5% (up from 2.9% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Media industry in Germany.
New Risk • Mar 18New major risk - Revenue and earnings growthEarnings have declined by 9.2% 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 Risk Earnings have declined by 9.2% per year over the past 5 years. Minor Risk Paying a dividend despite having no free cash flows.
Reported Earnings • Nov 17Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: €218.0m (down 6.1% from 3Q 2022). Net loss: €5.10m (loss widened 70% from 3Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Media industry in Germany.
Reported Earnings • Aug 08Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €326.1m (flat on 2Q 2022). Net income: €18.9m (up 33% from 2Q 2022). Profit margin: 5.8% (up from 4.3% in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 5.0% growth forecast for the Media industry in Germany.
Upcoming Dividend • May 22Upcoming dividend of €0.14 per share at 7.7% yieldEligible shareholders must have bought the stock before 29 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 59% but the company is paying out more than the cash it is generating. Trailing yield: 7.7%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (6.5%).
Buying Opportunity • May 15Now 20% undervaluedOver the last 90 days, the stock is up 6.0%. The fair value is estimated to be €2.30, 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 15%. For the next 3 years, revenue is forecast to grow by 0.1% per annum. Earnings is also forecast to grow by 7.0% per annum over the same time period.
Reported Earnings • Mar 29Full year 2022 earnings releasedFull year 2022 results: Revenue: €1.11b (flat on FY 2021). Net income: €32.1m (down 37% from FY 2021). Profit margin: 2.9% (down from 4.6% in FY 2021). Revenue is forecast to stay flat during the next 2 years compared to a 4.3% growth forecast for the Media industry in Germany.
Board Change • Nov 16Less 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. 6 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Non-Executive Director Laura Cairo was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Buying Opportunity • Nov 03Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 9.7%. The fair value is estimated to be €2.01, 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 2.8%. Revenue is forecast to decline by 1.2% in 2 years. Earnings is forecast to grow by 9.8% in the next 2 years.
Reported Earnings • Aug 08Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €328.6m (up 3.3% from 2Q 2021). Net income: €14.2m (down 50% from 2Q 2021). Profit margin: 4.3% (down from 8.9% 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 8.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 16Upcoming dividend of €0.18 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 8.1%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (7.2%).
Board Change • Apr 27Less 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. 6 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Non-Executive Director Laura Cairo was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Reported Earnings • Mar 28Full year 2021 earnings releasedFull year 2021 results: Revenue: €1.11b (up 12% from FY 2020). Net income: €51.0m (up 209% from FY 2020). Profit margin: 4.6% (up from 1.7% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 1.6% compared to a 10% growth forecast for the industry in Germany.
Reported Earnings • Nov 18Third quarter 2021 earnings released: EPS €0.032The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €239.7m (up 6.0% from 3Q 2020). Net income: €4.30m (up 231% from 3Q 2020). Profit margin: 1.8% (up from 0.6% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year and the company’s share price has also fallen by 9% per year.
Reported Earnings • Aug 09Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €318.0m (up 55% from 2Q 2020). Net income: €28.4m (up €34.1m from 2Q 2020). Profit margin: 8.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue.
Reported Earnings • May 19First quarter 2021 earnings releasedThe company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: €234.5m (up 2.9% from 1Q 2020). Net loss: €3.90m (loss narrowed 44% from 1Q 2020).
Upcoming Dividend • May 17Upcoming dividend of €0.04 per shareEligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (4.0%).
Reported Earnings • Mar 30Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €988.1m (down 16% from FY 2019). Net income: €16.5m (down 61% from FY 2019). Profit margin: 1.7% (down from 3.6% in FY 2019).
Valuation Update With 7 Day Price Move • Mar 23Investor sentiment improved over the past weekAfter last week's 17% share price gain to €1.65, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 25x in the Media industry in Germany. Total returns to shareholders of 8.5% over the past year.
Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improved over the past weekAfter last week's 18% share price gain to €1.38, the stock is trading at a trailing P/E ratio of 36.4x, up from the previous P/E ratio of 30.9x. This compares to an average P/E of 27x in the Media industry in Germany. Total return to shareholders over the past year is a loss of 44%.
Is New 90 Day High Low • Feb 10New 90-day high: €1.28The company is up 14% from its price of €1.13 on 11 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.70 per share.
Reported Earnings • Nov 14Third quarter 2020 earnings released: EPS €0.01The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €226.1m (down 10% from 3Q 2019). Net income: €1.30m (up €2.00m from 3Q 2019). Profit margin: 0.6% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses.
Analyst Estimate Surprise Post Earnings • Nov 14Revenue beats expectationsRevenue exceeded analyst estimates by 0.5%. Over the next year, revenue is forecast to grow 5.6%, compared to a 2.7% growth forecast for the Media industry in Germany.
Is New 90 Day High Low • Oct 16New 90-day low: €1.19The company is down 20% from its price of €1.48 on 17 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.02 per share.