Reported Earnings • May 21
First quarter 2026 earnings released First 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 20
Less than half of directors are independent There 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 30
Cairo Communication S.p.A., Annual General Meeting, May 07, 2026 Cairo 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 26
Cairo Communication S.p.A. announces Annual dividend, payable on May 27, 2026 Cairo 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 17
Third quarter 2024 earnings released Third 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 09
Second quarter 2024 earnings released Second 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 30
Investor 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 20
Upcoming dividend of €0.16 per share Eligible 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 17
First quarter 2024 earnings released First 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 08
New major risk - Revenue and earnings growth Earnings 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 08
Dividend of €0.16 announced Shareholders 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 31
Full year 2023 earnings released Full 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 18
New major risk - Revenue and earnings growth Earnings 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 17
Third quarter 2023 earnings released Third 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 08
Second quarter 2023 earnings released Second 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 22
Upcoming dividend of €0.14 per share at 7.7% yield Eligible 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 15
Now 20% undervalued Over 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 29
Full year 2022 earnings released Full 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 16
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. 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 03
Now 22% undervalued after recent price drop Over 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 08
Second quarter 2022 earnings released Second 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 16
Upcoming dividend of €0.18 per share Eligible 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 27
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. 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 28
Full year 2021 earnings released Full 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 18
Third quarter 2021 earnings released: EPS €0.032 The 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 09
Second quarter 2021 earnings released The 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 19
First quarter 2021 earnings released The 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 17
Upcoming dividend of €0.04 per share Eligible 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 30
Full year 2020 earnings released The 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 23
Investor sentiment improved over the past week After 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 12
Investor sentiment improved over the past week After 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 10
New 90-day high: €1.28 The 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 14
Third quarter 2020 earnings released: EPS €0.01 The 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 14
Revenue beats expectations Revenue 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 16
New 90-day low: €1.19 The 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.