New Risk • May 27
New major risk - Revenue and earnings growth Earnings have declined by 2.2% 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 2.2% 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. Board Change • May 20
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. 4 experienced directors. 8 highly experienced directors. Director Benedetta Corazza 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: Insufficient board refreshment. 공시 • Mar 26
RCS MediaGroup S.p.A. announces Annual dividend, payable on May 20, 2026 RCS MediaGroup S.p.A. announced Annual dividend of EUR 0.0700 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026. Board Change • Dec 30
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. 4 experienced directors. 8 highly experienced directors. Lead Independent Director Federica Calmi 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: Insufficient board refreshment. 공시 • Mar 26
RCS MediaGroup S.p.A. announces Annual dividend, payable on May 21, 2025 RCS MediaGroup S.p.A. announced Annual dividend of EUR 0.0700 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025. Reported Earnings • Nov 12
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €168.2m (flat on 3Q 2023). Net loss: €1.80m (loss narrowed 28% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €265.2m (up 2.0% from 2Q 2023). Net income: €35.5m (up 11% from 2Q 2023). Profit margin: 13% (up from 12% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. New Risk • Jun 30
New major risk - Revenue and earnings growth Earnings have declined by 2.9% 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 2.9% 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. Reported Earnings • May 14
First quarter 2024 earnings released First quarter 2024 results: €0.003 loss per share. Revenue: €168.9m (down 5.7% from 1Q 2023). Net loss: €1.60m (loss narrowed 11% from 1Q 2023). Upcoming Dividend • May 13
Upcoming dividend of €0.07 per share Eligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 8.0%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (5.5%). 공시 • Mar 30
RCS MediaGroup S.p.A., Annual General Meeting, May 08, 2024 RCS MediaGroup S.p.A., Annual General Meeting, May 08, 2024, at 10:00 Central European Standard Time. Agenda: To consider Financial statements at December 31, 2023, Directors' Report on Operations, Independent Auditors' Report, Report of the Board of Statutory Auditors, Presentation of the consolidated financial statements at December 31, 2023; to consider Appointment of the Board of Statutory Auditors; to consider Report on the Remuneration Policy and compensation paid pursuant to Article 123-ter of Legislative Decree 58/1998; to consider Authorization to purchase and dispose of treasury shares pursuant to Article 2357 et seq. of the Italian Civil Code subject to revocation of the prior shareholders' resolution; and to consider Proposal to introduce the possibility to held the Shareholders' meeting exclusively through the so called Appointed Representative and to held the Shareholders' meeting, as well as the Board of Directors' meeting and the Board of Statutory Auditors' meeting, by means of telecommunication. Reported Earnings • Mar 28
Full year 2023 earnings released Full year 2023 results: Revenue: €828.0m (down 2.0% from FY 2022). Net income: €57.0m (up 14% from FY 2022). Profit margin: 6.9% (up from 5.9% in FY 2022). The increase in margin was driven by lower expenses. Reported Earnings • Nov 13
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €167.6m (down 4.0% from 3Q 2022). Net loss: €2.50m (loss widened 400% from 3Q 2022). Reported Earnings • Aug 03
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €260.1m (flat on 2Q 2022). Net income: €32.1m (up 29% from 2Q 2022). Profit margin: 12% (up from 9.5% in 2Q 2022). Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 21
First quarter 2023 earnings released First quarter 2023 results: €0.003 loss per share. Revenue: €179.1m (down 2.5% from 1Q 2022). Net loss: €1.80m (loss widened 157% from 1Q 2022). Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 15
Upcoming dividend of €0.06 per share at 7.7% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 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%). Reported Earnings • Mar 27
Full year 2022 earnings released Full year 2022 results: Revenue: €845.0m (flat on FY 2021). Net income: €50.1m (down 31% from FY 2021). Profit margin: 5.9% (down from 8.6% in FY 2021). Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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 an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. 5 independent directors (7 non-independent directors). Lead Independent Director Benedetta Corazza was the last independent 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. Insufficient board refreshment. Upcoming Dividend • May 09
Upcoming dividend of €0.06 per share Eligible shareholders must have bought the stock before 16 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of German dividend payers (4.2%). Higher than average of industry peers (7.2%). Reported Earnings • Nov 13
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €188.2m (up 8.0% from 3Q 2020). Net income: €7.80m (up 77% from 3Q 2020). Profit margin: 4.1% (up from 2.5% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 03
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: €247.4m (up 67% from 2Q 2020). Net income: €41.9m (up €47.8m from 2Q 2020). Profit margin: 17% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Reported Earnings • May 15
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: €174.4m (up 1.8% from 1Q 2020). Net loss: €3.20m (loss narrowed 48% from 1Q 2020). Upcoming Dividend • May 10
Upcoming dividend of €0.03 per share Eligible shareholders must have bought the stock before 17 May 2021. Payment date: 19 May 2021. Trailing yield: 4.1%. Within top quartile of German dividend payers (3.2%). In line with average of industry peers (3.9%). Reported Earnings • Mar 20
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: €749.5m (down 19% from FY 2019). Net income: €31.7m (down 54% from FY 2019). Profit margin: 4.2% (down from 7.4% in FY 2019). The decrease in margin was driven by lower revenue. 공시 • Mar 20
RCS MediaGroup S.p.A., Annual General Meeting, Apr 29, 2021 RCS MediaGroup S.p.A., Annual General Meeting, Apr 29, 2021, at 10:30 Central European Standard Time. Location: Rizzoli 8 Milan Italy Agenda: To consider financial statements at December 31, 2020; To consider directors' report on operations; independent auditors' report; to consider report of the board of statutory auditors; to consider presentation of the consolidated financial statements at December 31, 2020; and to consider report on the remuneration policy and compensation paid under article 123-ter of legislative decree 58/1998; to consider appointment of the board of statutory auditors. Is New 90 Day High Low • Feb 19
New 90-day high: €0.60 The company is up 8.0% from its price of €0.55 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.09 per share. Is New 90 Day High Low • Nov 28
New 90-day high: €0.58 The company is up 5.0% from its price of €0.55 on 28 August 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.98 per share. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue beats expectations Revenue exceeded analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 5.6% while the growth in Media industry in Germany is expected to stay flat. Is New 90 Day High Low • Oct 22
New 90-day low: €0.49 The company is down 20% from its price of €0.61 on 24 July 2020. The German market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.79 per share. Is New 90 Day High Low • Sep 19
New 90-day low: €0.52 The company is down 17% from its price of €0.62 on 19 June 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.79 per share.