View ValuationAscopiave 향후 성장Future 기준 점검 1/6Ascopiave 의 수익은 연간 19.8% 감소할 것으로 예상되는 반면, 연간 수익은 4.7% 로 증가할 것으로 예상됩니다. EPS는 연간 25.4% 만큼 쇠퇴할 것으로 예상됩니다. 자기자본이익률은 3년 후 4.7% 로 예상됩니다.핵심 정보-19.8%이익 성장률-25.42%EPS 성장률Gas Utilities 이익 성장2.0%매출 성장률4.7%향후 자기자본이익률4.71%애널리스트 커버리지Low마지막 업데이트08 May 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesReported Earnings • 17hFirst quarter 2026 earnings released: EPS: €0.034 (vs €0.043 in 1Q 2025)First quarter 2026 results: EPS: €0.034 (down from €0.043 in 1Q 2025). Revenue: €70.8m (up 29% from 1Q 2025). Net income: €7.47m (down 20% from 1Q 2025). Profit margin: 11% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.Board Change • May 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Lead Independent Director Giovanni Zoppas was the last 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: Insufficient board refreshment.New Risk • Apr 16New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Shares are highly illiquid. Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (185% cash payout ratio).Declared Dividend • Apr 13Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 60% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Declared Dividend • Mar 19Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 70% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.공지 • Mar 18Ascopiave S.p.A. announces Annual dividend, payable on May 06, 2026Ascopiave S.p.A. announced Annual dividend of EUR 0.1600 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026.공지 • Mar 16Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026, at 15:00 W. Europe Standard Time.Reported Earnings • Mar 10Full year 2025 earnings released: EPS: €0.40 (vs €0.17 in FY 2024)Full year 2025 results: EPS: €0.40 (up from €0.17 in FY 2024). Revenue: €244.3m (up 19% from FY 2024). Net income: €86.8m (up 142% from FY 2024). Profit margin: 36% (up from 18% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.공지 • Dec 16Ascopiave S.p.A. to Report Fiscal Year 2025 Results on Mar 05, 2026Ascopiave S.p.A. announced that they will report fiscal year 2025 results on Mar 05, 2026공지 • Dec 13+ 2 more updatesAscopiave S.p.A. to Report First Half, 2026 Results on Jul 30, 2026Ascopiave S.p.A. announced that they will report first half, 2026 results on Jul 30, 2026공지 • Nov 27Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million.Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million on November 26, 2025. A cash consideration of €46 million will be paid by Ascopiave S.p.A, which may be subject to adjustment after closing, as is usual. Ascopiave is going to finance the acquisition through its available funds or bank credit lines first and foremost. For the period ending December 31, 2024, Societa' Impianti Metano S.R.L. reported EBITDA of €5.4 million. The deal shall be subject to the condition precedent of the successful completion of the so-called Golden Power procedure.Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: €0.05 (vs €0.036 in 3Q 2024)Third quarter 2025 results: EPS: €0.05 (up from €0.036 in 3Q 2024). Revenue: €75.9m (up 61% from 3Q 2024). Net income: €10.8m (up 37% from 3Q 2024). Profit margin: 14% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.공지 • Jul 02Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A).Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Gas network assets from A2A S.p.A. (BIT:A2A) for €430 million on December 19, 2024. A cash consideration of €430 million will be paid by Ascopiave S.p.A. As part of consideration, €430 million is paid towards assets of Gas network assets of A2A S.p.A. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. For the period ending December 31, 2023, Gas network assets of A2A S.p.A. reported EBITDA of €44 million. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. The closing is expected by July 2025. Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A) on June 30, 2025.공지 • Jul 01Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L.Ascopiave S.p.A. (BIT:ASC) proposed a non-binding offer to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. for €430 million on July 30, 2024. The parties agree to continue the negotiation process, and A2A grants Ascopiave an exclusive negotiation period until December 15, 2024, to carry out the usual due diligence activities with the aim of potentially reaching the signing of a binding agreement by that date. The potential completion of the transaction will be subject, among other things, to the positive outcome of the due diligence, the negotiation of mutually satisfactory contractual agreements, the obtaining of necessary authorizations from the competent authorities, as well as the approval of the corporate bodies of A2A and Ascopiave. on December 13, 2024, , A2A S.p.A. and Ascopiave S.p.A. inform that today a technical extension of this exclusive period has been agreed from December 15 to December 24, 2024 inclusive, to allow the parties to finalize the negotiation. Ascopiave S.p.A. entered into a preliminary purchase agreement to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on December 19, 2024. The agreed base price for the transaction is €430 million, which reflects the valuation of the business unit as of December 31, 2023, subject to adjustment after closing, as customary. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. For the year ended December 2023, the portfolio reported EBITDA of €44 million. The closing is expected by July 2025. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on June 30, 2025. The operation was completed following the fulfillment of the relevant condition precedents and the contribution by Unareti S.p.A. and LD Reti S.r.l. to AP RETI GAS North S.r.l. of the assets included in the aforementioned business units. The purchase price paid by Ascopiave S.p.A., which reflects the valuation of the business unit as of December 31, 2023, amounts to €430 million and will be subject to post-closing adjustments, as is customary. The transaction will be effective from July 1, 2025.Reported Earnings • May 10First quarter 2025 earnings released: EPS: €0.043 (vs €0.03 in 1Q 2024)First quarter 2025 results: EPS: €0.043 (up from €0.03 in 1Q 2024). Revenue: €54.8m (up 16% from 1Q 2024). Net income: €9.28m (up 42% from 1Q 2024). Profit margin: 17% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year.New Risk • May 06New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 161% Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Minor Risk High level of debt (45% net debt to equity).공지 • Apr 23Ascopiave S.p.A. announces Annual dividend, payable on May 07, 2025Ascopiave S.p.A. announced Annual dividend of EUR 0.1500 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025.공지 • Mar 17Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025, at 15:00 W. Europe Standard Time.New Risk • Mar 12New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 138% Dividend yield: 5.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 138% Minor Risk High level of debt (43% net debt to equity).공지 • Dec 13+ 3 more updatesAscopiave S.p.A. to Report Fiscal Year 2024 Results on Mar 06, 2025Ascopiave S.p.A. announced that they will report fiscal year 2024 results on Mar 06, 2025Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €47.2m (up 14% from 3Q 2023). Net income: €7.87m (up €7.06m from 3Q 2023). Profit margin: 17% (up from 2.0% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Gas Utilities industry in Europe.Reported Earnings • Jul 31Second quarter 2024 earnings released: EPS: €0.052 (vs €0.029 in 2Q 2023)Second quarter 2024 results: EPS: €0.052 (up from €0.029 in 2Q 2023). Revenue: €51.7m (up 20% from 2Q 2023). Net income: €11.3m (up 81% from 2Q 2023). Profit margin: 22% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Gas Utilities industry in Europe. 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 12% per year, which means it has not declined as severely as earnings.Reported Earnings • May 10First quarter 2024 earnings released: EPS: €0.03 (vs €0.027 in 1Q 2023)First quarter 2024 results: EPS: €0.03 (up from €0.027 in 1Q 2023). Revenue: €47.4m (up 17% from 1Q 2023). Net income: €6.55m (up 13% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings.Declared Dividend • Apr 12Dividend increased to €0.14Dividend of €0.14 is 7.7% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 6.0%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. Since a fall of 6.7% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Declared Dividend • Mar 29Dividend increased to €0.14Dividend of €0.14 is 7.7% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. Since a fall of 6.7% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.Reported Earnings • Mar 09Full year 2023 earnings released: EPS: €0.17 (vs €0.14 in FY 2022)Full year 2023 results: EPS: €0.17 (up from €0.14 in FY 2022). Revenue: €180.8m (up 11% from FY 2022). Net income: €36.1m (up 16% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.공지 • Dec 14+ 4 more updatesAscopiave S.p.A., Annual General Meeting, Apr 17, 2024Ascopiave S.p.A., Annual General Meeting, Apr 17, 2024. Agenda: To approve Financial Statements and illustrating the consolidated Financial Statements as of December 31, 2023.Upcoming Dividend • Apr 25Upcoming dividend of €0.13 per share at 4.7% yieldEligible shareholders must have bought the stock before 02 May 2023. Payment date: 04 May 2023. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (4.4%).Reported Earnings • Mar 09Full year 2022 earnings released: EPS: €0.14 (vs €0.21 in FY 2021)Full year 2022 results: EPS: €0.14 (down from €0.21 in FY 2021). Revenue: €163.7m (up 21% from FY 2021). Net income: €31.2m (down 31% from FY 2021). Profit margin: 19% (down from 34% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.공지 • Dec 07+ 2 more updatesAscopiave S.p.A., Annual General Meeting, Apr 26, 2023Ascopiave S.p.A., Annual General Meeting, Apr 26, 2023. Agenda: To consider approving the Financial Statements and illustrating the consolidated Financial Statements as of December 31, 2022.Board Change • Nov 17High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Nov 05Third quarter 2022 earnings releasedThird quarter 2022 results: Net income: (down €2.84m from profit in 3Q 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Oct 26Investor sentiment improved over the past weekAfter last week's 17% share price gain to €2.27, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Gas Utilities industry in Europe. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.47 per share.Reported Earnings • Aug 05Second quarter 2022 earnings released: EPS: €0.051 (vs €0.061 in 2Q 2021)Second quarter 2022 results: EPS: €0.051 (down from €0.061 in 2Q 2021). Revenue: €47.3m (up 71% from 2Q 2021). Net income: €11.1m (down 16% from 2Q 2021). Profit margin: 24% (down from 48% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19% compared to a 11% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.Buying Opportunity • Aug 05Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 20%. The fair value is estimated to be €3.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 40%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 9.0% in the next 2 years.Buying Opportunity • Jul 14Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be €3.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings is also forecast to grow by 1.6% per annum over the same time period.Reported Earnings • May 14First quarter 2022 earnings released: EPS: €0.056 (vs €0.063 in 1Q 2021)First quarter 2022 results: EPS: €0.056 (down from €0.063 in 1Q 2021). Revenue: €34.1m (down 11% from 1Q 2021). Net income: €12.2m (down 11% from 1Q 2021). Profit margin: 36% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 41%, compared to a 1.4% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Board Change • May 04High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Mar 13Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: €0.21 (down from €0.26 in FY 2020). Revenue: €134.9m (down 18% from FY 2020). Net income: €45.3m (down 23% from FY 2020). Profit margin: 34% (down from 36% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 26% compared to a 2.3% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.Board Change • Feb 24High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. 1 highly experienced director. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS €0.10 (vs €0.034 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €33.6m (down 22% from 3Q 2020). Net income: €2.84m (down 63% from 3Q 2020). Profit margin: 8.5% (down from 18% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • Apr 26Upcoming dividend of €0.16 per shareEligible shareholders must have bought the stock before 03 May 2021. Payment date: 05 May 2021. Trailing yield: 4.1%. Within top quartile of British dividend payers (4.1%). Lower than average of industry peers (6.1%).이익 및 매출 성장 예측LSE:0DME - 애널리스트 향후 추정치 및 과거 재무 데이터 (EUR Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/2028299457134212/31/20272894310126312/31/202627339-1110813/31/20262608547147N/A12/31/20252448719112N/A9/30/20252438621111N/A6/30/20252148333117N/A3/31/20252123964145N/A12/31/20242053620101N/A9/30/20242024923109N/A6/30/202419642-283N/A3/31/202418837-104-10N/A12/31/202318136-726N/A9/30/202316919-6322N/A6/30/202316620-5828N/A3/31/202317025579N/A12/31/2022164311299N/A9/30/202215540-758N/A6/30/202215041-354N/A3/31/202213144358N/A12/31/2021135453083N/A9/30/2021134602578N/A6/30/2021143642375N/A3/31/2021158591260N/A12/31/202016459-242N/A9/30/202016437-90-50N/A6/30/202015133-69-32N/A3/31/202014226-43-8N/A12/31/201912514N/A26N/A9/30/201911810N/A79N/A6/30/20191118N/A50N/A3/31/2019-57-9N/A73N/A12/31/201811513N/A73N/A9/30/201824324N/A66N/A6/30/201830126N/A68N/A3/31/201853446N/A77N/A12/31/201753347N/A51N/A9/30/201752253N/A46N/A6/30/201752955N/A51N/A3/31/201751556N/A64N/A12/31/201649854N/A68N/A9/30/201652250N/A87N/A6/30/201652648N/A99N/A3/31/201654544N/A97N/A12/31/201558243N/A69N/A9/30/201556738N/A79N/A6/30/201557037N/A64N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 0DME 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -19.8%).수익 vs 시장: 0DME 의 수익은 향후 3년간 감소할 것으로 예상됩니다(연간 -19.8%).고성장 수익: 0DME 의 수익은 향후 3년간 감소할 것으로 예상됩니다.수익 대 시장: 0DME 의 수익(연간 4.7%)이 UK 시장(연간 4.4%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: 0DME 의 수익(연간 4.7%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 0DME의 자본 수익률은 3년 후 4.7%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YUtilities 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/09 14:51종가2026/05/07 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 소스Ascopiave S.p.A.는 3명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Luigi De BellisEquita SIM S.p.A.Alberto FranceseIntesa Sanpaolo Equity ResearchDavide CandelaIntesa Sanpaolo Equity Research
Reported Earnings • 17hFirst quarter 2026 earnings released: EPS: €0.034 (vs €0.043 in 1Q 2025)First quarter 2026 results: EPS: €0.034 (down from €0.043 in 1Q 2025). Revenue: €70.8m (up 29% from 1Q 2025). Net income: €7.47m (down 20% from 1Q 2025). Profit margin: 11% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth.
Board Change • May 07Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Lead Independent Director Giovanni Zoppas was the last 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: Insufficient board refreshment.
New Risk • Apr 16New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Shares are highly illiquid. Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (185% cash payout ratio).
Declared Dividend • Apr 13Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 60% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Declared Dividend • Mar 19Dividend increased to €0.16Dividend of €0.16 is 6.7% higher than last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (164% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 70% over the next 3 years. Since a fall of 56% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
공지 • Mar 18Ascopiave S.p.A. announces Annual dividend, payable on May 06, 2026Ascopiave S.p.A. announced Annual dividend of EUR 0.1600 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026.
공지 • Mar 16Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026Ascopiave S.p.A., Annual General Meeting, Apr 23, 2026, at 15:00 W. Europe Standard Time.
Reported Earnings • Mar 10Full year 2025 earnings released: EPS: €0.40 (vs €0.17 in FY 2024)Full year 2025 results: EPS: €0.40 (up from €0.17 in FY 2024). Revenue: €244.3m (up 19% from FY 2024). Net income: €86.8m (up 142% from FY 2024). Profit margin: 36% (up from 18% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
공지 • Dec 16Ascopiave S.p.A. to Report Fiscal Year 2025 Results on Mar 05, 2026Ascopiave S.p.A. announced that they will report fiscal year 2025 results on Mar 05, 2026
공지 • Dec 13+ 2 more updatesAscopiave S.p.A. to Report First Half, 2026 Results on Jul 30, 2026Ascopiave S.p.A. announced that they will report first half, 2026 results on Jul 30, 2026
공지 • Nov 27Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million.Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Societa' Impianti Metano S.R.L. from Gruppo S.I.M.E. Srl for €46 million on November 26, 2025. A cash consideration of €46 million will be paid by Ascopiave S.p.A, which may be subject to adjustment after closing, as is usual. Ascopiave is going to finance the acquisition through its available funds or bank credit lines first and foremost. For the period ending December 31, 2024, Societa' Impianti Metano S.R.L. reported EBITDA of €5.4 million. The deal shall be subject to the condition precedent of the successful completion of the so-called Golden Power procedure.
Reported Earnings • Nov 08Third quarter 2025 earnings released: EPS: €0.05 (vs €0.036 in 3Q 2024)Third quarter 2025 results: EPS: €0.05 (up from €0.036 in 3Q 2024). Revenue: €75.9m (up 61% from 3Q 2024). Net income: €10.8m (up 37% from 3Q 2024). Profit margin: 14% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.
공지 • Jul 02Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A).Ascopiave S.p.A. (BIT:ASC) signed a preliminary purchase agreement to acquire Gas network assets from A2A S.p.A. (BIT:A2A) for €430 million on December 19, 2024. A cash consideration of €430 million will be paid by Ascopiave S.p.A. As part of consideration, €430 million is paid towards assets of Gas network assets of A2A S.p.A. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. For the period ending December 31, 2023, Gas network assets of A2A S.p.A. reported EBITDA of €44 million. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. The closing is expected by July 2025. Ascopiave S.p.A. (BIT:ASC) completed the acquisition of Gas network assets from A2A S.p.A. (BIT:A2A) on June 30, 2025.
공지 • Jul 01Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L.Ascopiave S.p.A. (BIT:ASC) proposed a non-binding offer to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. for €430 million on July 30, 2024. The parties agree to continue the negotiation process, and A2A grants Ascopiave an exclusive negotiation period until December 15, 2024, to carry out the usual due diligence activities with the aim of potentially reaching the signing of a binding agreement by that date. The potential completion of the transaction will be subject, among other things, to the positive outcome of the due diligence, the negotiation of mutually satisfactory contractual agreements, the obtaining of necessary authorizations from the competent authorities, as well as the approval of the corporate bodies of A2A and Ascopiave. on December 13, 2024, , A2A S.p.A. and Ascopiave S.p.A. inform that today a technical extension of this exclusive period has been agreed from December 15 to December 24, 2024 inclusive, to allow the parties to finalize the negotiation. Ascopiave S.p.A. entered into a preliminary purchase agreement to acquire Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on December 19, 2024. The agreed base price for the transaction is €430 million, which reflects the valuation of the business unit as of December 31, 2023, subject to adjustment after closing, as customary. The deal is subject to the occurrence of conditions precedent as usual for this type of transaction, including the so-called Golden Power procedure. For the year ended December 2023, the portfolio reported EBITDA of €44 million. The closing is expected by July 2025. Ascopiave will finance the acquisition mainly through the resources derived from the exercise of the put option on its minority stake in EstEnergy and, for the remaining part, through the assumption of new financial debt. Ascopiave S.p.A. completed the acquisition of Portfolio of assets consisting of approximately 490,000 gas distribution points in Lombardy from Unareti S.p.A. and LD Reti S.R.L. on June 30, 2025. The operation was completed following the fulfillment of the relevant condition precedents and the contribution by Unareti S.p.A. and LD Reti S.r.l. to AP RETI GAS North S.r.l. of the assets included in the aforementioned business units. The purchase price paid by Ascopiave S.p.A., which reflects the valuation of the business unit as of December 31, 2023, amounts to €430 million and will be subject to post-closing adjustments, as is customary. The transaction will be effective from July 1, 2025.
Reported Earnings • May 10First quarter 2025 earnings released: EPS: €0.043 (vs €0.03 in 1Q 2024)First quarter 2025 results: EPS: €0.043 (up from €0.03 in 1Q 2024). Revenue: €54.8m (up 16% from 1Q 2024). Net income: €9.28m (up 42% from 1Q 2024). Profit margin: 17% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year.
New Risk • May 06New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.7% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 161% Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Minor Risk High level of debt (45% net debt to equity).
공지 • Apr 23Ascopiave S.p.A. announces Annual dividend, payable on May 07, 2025Ascopiave S.p.A. announced Annual dividend of EUR 0.1500 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025.
공지 • Mar 17Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025Ascopiave S.p.A., Annual General Meeting, Apr 17, 2025, at 15:00 W. Europe Standard Time.
New Risk • Mar 12New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 138% Dividend yield: 5.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Cash payout ratio: 138% Minor Risk High level of debt (43% net debt to equity).
공지 • Dec 13+ 3 more updatesAscopiave S.p.A. to Report Fiscal Year 2024 Results on Mar 06, 2025Ascopiave S.p.A. announced that they will report fiscal year 2024 results on Mar 06, 2025
Reported Earnings • Nov 10Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €47.2m (up 14% from 3Q 2023). Net income: €7.87m (up €7.06m from 3Q 2023). Profit margin: 17% (up from 2.0% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Gas Utilities industry in Europe.
Reported Earnings • Jul 31Second quarter 2024 earnings released: EPS: €0.052 (vs €0.029 in 2Q 2023)Second quarter 2024 results: EPS: €0.052 (up from €0.029 in 2Q 2023). Revenue: €51.7m (up 20% from 2Q 2023). Net income: €11.3m (up 81% from 2Q 2023). Profit margin: 22% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Gas Utilities industry in Europe. 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 12% per year, which means it has not declined as severely as earnings.
Reported Earnings • May 10First quarter 2024 earnings released: EPS: €0.03 (vs €0.027 in 1Q 2023)First quarter 2024 results: EPS: €0.03 (up from €0.027 in 1Q 2023). Revenue: €47.4m (up 17% from 1Q 2023). Net income: €6.55m (up 13% from 1Q 2023). Profit margin: 14% (in line with 1Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings.
Declared Dividend • Apr 12Dividend increased to €0.14Dividend of €0.14 is 7.7% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 6.0%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. Since a fall of 6.7% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Declared Dividend • Mar 29Dividend increased to €0.14Dividend of €0.14 is 7.7% higher than last year. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 13% over the next 3 years. Since a fall of 6.7% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk.
Reported Earnings • Mar 09Full year 2023 earnings released: EPS: €0.17 (vs €0.14 in FY 2022)Full year 2023 results: EPS: €0.17 (up from €0.14 in FY 2022). Revenue: €180.8m (up 11% from FY 2022). Net income: €36.1m (up 16% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
공지 • Dec 14+ 4 more updatesAscopiave S.p.A., Annual General Meeting, Apr 17, 2024Ascopiave S.p.A., Annual General Meeting, Apr 17, 2024. Agenda: To approve Financial Statements and illustrating the consolidated Financial Statements as of December 31, 2023.
Upcoming Dividend • Apr 25Upcoming dividend of €0.13 per share at 4.7% yieldEligible shareholders must have bought the stock before 02 May 2023. Payment date: 04 May 2023. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (4.4%).
Reported Earnings • Mar 09Full year 2022 earnings released: EPS: €0.14 (vs €0.21 in FY 2021)Full year 2022 results: EPS: €0.14 (down from €0.21 in FY 2021). Revenue: €163.7m (up 21% from FY 2021). Net income: €31.2m (down 31% from FY 2021). Profit margin: 19% (down from 34% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings.
공지 • Dec 07+ 2 more updatesAscopiave S.p.A., Annual General Meeting, Apr 26, 2023Ascopiave S.p.A., Annual General Meeting, Apr 26, 2023. Agenda: To consider approving the Financial Statements and illustrating the consolidated Financial Statements as of December 31, 2022.
Board Change • Nov 17High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Nov 05Third quarter 2022 earnings releasedThird quarter 2022 results: Net income: (down €2.84m from profit in 3Q 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Oct 26Investor sentiment improved over the past weekAfter last week's 17% share price gain to €2.27, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Gas Utilities industry in Europe. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.47 per share.
Reported Earnings • Aug 05Second quarter 2022 earnings released: EPS: €0.051 (vs €0.061 in 2Q 2021)Second quarter 2022 results: EPS: €0.051 (down from €0.061 in 2Q 2021). Revenue: €47.3m (up 71% from 2Q 2021). Net income: €11.1m (down 16% from 2Q 2021). Profit margin: 24% (down from 48% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 19% compared to a 11% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings.
Buying Opportunity • Aug 05Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 20%. The fair value is estimated to be €3.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 40%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 9.0% in the next 2 years.
Buying Opportunity • Jul 14Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 24%. The fair value is estimated to be €3.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings is also forecast to grow by 1.6% per annum over the same time period.
Reported Earnings • May 14First quarter 2022 earnings released: EPS: €0.056 (vs €0.063 in 1Q 2021)First quarter 2022 results: EPS: €0.056 (down from €0.063 in 1Q 2021). Revenue: €34.1m (down 11% from 1Q 2021). Net income: €12.2m (down 11% from 1Q 2021). Profit margin: 36% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 41%, compared to a 1.4% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Board Change • May 04High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. 3 highly experienced directors. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Mar 13Full year 2021 earnings: EPS in line with expectations, revenues disappointFull year 2021 results: EPS: €0.21 (down from €0.26 in FY 2020). Revenue: €134.9m (down 18% from FY 2020). Net income: €45.3m (down 23% from FY 2020). Profit margin: 34% (down from 36% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 26% compared to a 2.3% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
Board Change • Feb 24High number of new and inexperienced directorsThere are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. 1 highly experienced director. Director Enrico Quarello is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS €0.10 (vs €0.034 in 3Q 2020)The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €33.6m (down 22% from 3Q 2020). Net income: €2.84m (down 63% from 3Q 2020). Profit margin: 8.5% (down from 18% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Apr 26Upcoming dividend of €0.16 per shareEligible shareholders must have bought the stock before 03 May 2021. Payment date: 05 May 2021. Trailing yield: 4.1%. Within top quartile of British dividend payers (4.1%). Lower than average of industry peers (6.1%).