New Risk • May 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 62% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (62% accrual ratio). Minor Risk Market cap is less than US$100m (€76.1m market cap, or US$89.4m). Reported Earnings • May 06
Full year 2025 earnings released: EPS: €12.72 (vs €2.78 in FY 2024) Full year 2025 results: EPS: €12.72 (up from €2.78 in FY 2024). Revenue: €462.2m (up 54% from FY 2024). Net income: €37.5m (up 386% from FY 2024). Profit margin: 8.1% (up from 2.6% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. New Risk • May 05
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€74.9m market cap, or US$87.8m). Declared Dividend • Apr 27
Dividend of €0.40 announced Dividend of €0.40 is the same as last year. Ex-date: 3rd June 2026 Payment date: 5th June 2026 Dividend yield will be 1.6%, which is higher than the industry average of 1.4%. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 3 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공시 • Apr 18
We.Connect SA, Annual General Meeting, May 28, 2026 We.Connect SA, Annual General Meeting, May 28, 2026. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €25.90, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 35x in the Electronic industry in Germany. Board Change • Nov 17
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. No independent directors (6 non-independent directors). Director Coralie Crivile was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 공시 • Apr 29
We.Connect SA, Annual General Meeting, Jun 03, 2025 We.Connect SA, Annual General Meeting, Jun 03, 2025. Location: zac du couternois, 4 avenue louise leblois, serris France 공시 • Apr 24
We.Connect in Talks to Buy Consumer Electronics Firm Exertis France We.Connect SA (ENXTPA:ALWEC) said on April 22, 2025 that it has started exclusive talks on the acquisition of consumer electronics distributor Exertis France SAS. The contemplated deal, financial details of which were not disclosed, does not include the professional tech divisions of Exertis in France and Iberia, namely Exertis Connect, Exertis Azenn, and Exertis AV Spain, a press statement says. The acquisition is expected to bolster We.Connect’s growth trajectory create significant synergies and strengthen its footprint in the European market, particularly in the Iberian Peninsula. The deal is expected to close in Third Quarter 2025, pending regulatory and labour body approvals. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €16.60, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 11x in the Electronic industry in Germany. Reported Earnings • Oct 26
First half 2023 earnings released First half 2023 results: Net income: €4.29m (up €4.29m from 1H 2022). Reported Earnings • Apr 23
Full year 2022 earnings released: EPS: €2.85 (vs €2.33 in FY 2021) Full year 2022 results: EPS: €2.85 (up from €2.33 in FY 2021). Revenue: €237.7m (up 9.3% from FY 2021). Net income: €7.88m (up 24% from FY 2021). Profit margin: 3.3% (up from 2.9% in FY 2021). The increase in margin was driven by higher revenue. Board Change • Mar 27
No independent directors 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. No highly experienced directors. No independent directors (6 non-independent directors). CEO & Chairman of the Board Moshey Gorsd was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.