공시 • Nov 15
ML System S.A. to Report Q3, 2025 Results on Nov 21, 2025 ML System S.A. announced that they will report Q3, 2025 results on Nov 21, 2025 공시 • Aug 25
ML System S.A. to Report First Half, 2025 Results on Sep 26, 2025 ML System S.A. announced that they will report first half, 2025 results on Sep 26, 2025 Reported Earnings • Sep 20
Second quarter 2024 earnings released: zł1.20 loss per share (vs zł1.26 loss in 2Q 2023) Second quarter 2024 results: zł1.20 loss per share. Revenue: zł31.3m (down 35% from 2Q 2023). Net loss: zł8.81m (loss widened 5.0% from 2Q 2023). New Risk • Aug 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% 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: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Earnings have declined by 49% per year over the past 5 years. High level of non-cash earnings (84% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (€88.9m market cap, or US$98.6m). New Risk • May 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.2% 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: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 49% per year over the past 5 years. High level of non-cash earnings (85% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (€86.7m market cap, or US$94.1m). Reported Earnings • May 24
First quarter 2024 earnings released: EPS: zł0.79 (vs zł0.35 loss in 1Q 2023) First quarter 2024 results: EPS: zł0.79 (up from zł0.35 loss in 1Q 2023). Revenue: zł40.1m (down 13% from 1Q 2023). Net income: zł5.87m (up zł8.13m from 1Q 2023). Profit margin: 15% (up from net loss in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. 공시 • Apr 26
ML System S.A., Annual General Meeting, May 20, 2024 ML System S.A., Annual General Meeting, May 20, 2024, at 11:00 Central European Standard Time. Reported Earnings • Apr 17
Full year 2023 earnings released: zł0.67 loss per share (vs zł0.033 profit in FY 2022) Full year 2023 results: zł0.67 loss per share (down from zł0.033 profit in FY 2022). Revenue: zł193.3m (down 31% from FY 2022). Net loss: zł4.64m (down zł4.86m from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. 공시 • Feb 03
ML System S.A. to Report Fiscal Year 2023 Final Results on Mar 27, 2024 ML System S.A. announced that they will report fiscal year 2023 final results on Mar 27, 2024 Reported Earnings • Nov 25
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł39.7m (down 38% from 3Q 2022). Net loss: zł103.0k (loss narrowed 89% from 3Q 2022). New Risk • Oct 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €91.0m (US$95.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 43% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (€91.0m market cap, or US$95.8m). Reported Earnings • Sep 21
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł48.4m (down 3.8% from 2Q 2022). Net loss: zł8.39m (loss widened zł7.38m from 2Q 2022). New Risk • Jun 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 14% 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 Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 34% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (14% increase in shares outstanding). 공시 • Jun 04
ML System S.A., Annual General Meeting, Jun 28, 2023 ML System S.A., Annual General Meeting, Jun 28, 2023, at 11:00 Central European Standard Time. Reported Earnings • Nov 20
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł63.7m (up 30% from 3Q 2021). Net loss: zł930.0k (loss narrowed 49% from 3Q 2021). Reported Earnings • Sep 02
Second quarter 2022 earnings released: zł0.16 loss per share (vs zł0.58 profit in 2Q 2021) Second quarter 2022 results: zł0.16 loss per share (down from zł0.58 profit in 2Q 2021). Revenue: zł50.3m (up 9.1% from 2Q 2021). Net loss: zł1.01m (down 127% from profit in 2Q 2021). 공시 • Jun 07
ML System S.A., Annual General Meeting, Jun 28, 2022 ML System S.A., Annual General Meeting, Jun 28, 2022, at 11:00 Central European Standard Time. Reported Earnings • May 27
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł54.9m (up 109% from 1Q 2021). Net loss: zł2.75m (loss widened 499% from 1Q 2021). Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: zł49.0m (up 57% from 3Q 2020). Net loss: zł1.83m (down 302% from profit in 3Q 2020). Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €19.90, the stock trades at a trailing P/E ratio of 70.6x. Average trailing P/E is 38x in the Semiconductor 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 zł23.00, the stock trades at a trailing P/E ratio of 71.1x. Average trailing P/E is 39x in the Semiconductor industry in Germany.