View Future GrowthSpan d.d 과거 순이익 실적과거 기준 점검 2/6Span d.d은 연평균 7.5%의 비율로 수입이 증가해 온 반면, IT 산업은 수입이 7.9% 증가했습니다. 매출은 연평균 21.4%의 비율로 증가했습니다. Span d.d의 자기자본이익률은 11.3%이고 순이익률은 1.9%입니다.핵심 정보7.54%순이익 성장률3.75%주당순이익(EPS) 성장률IT 산업 성장률15.31%매출 성장률21.43%자기자본이익률11.29%순이익률1.94%최근 순이익 업데이트31 Mar 2026최근 과거 실적 업데이트분석 기사 • May 07Earnings Troubles May Signal Larger Issues for Span d.d (ZGSE:SPAN) ShareholdersThe subdued market reaction suggests that Span d.d.'s ( ZGSE:SPAN ) recent earnings didn't contain any surprises. Our...Reported Earnings • May 05First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: €65.3m (up 6.5% from 1Q 2025). Net income: €1.48m (down 45% from 1Q 2025). Profit margin: 2.3% (down from 4.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 06Full year 2025 earnings releasedFull year 2025 results: Revenue: €232.2m (up 29% from FY 2024). Net income: €5.76m (up 69% from FY 2024). Profit margin: 2.5% (up from 1.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the IT industry in Europe.Reported Earnings • Nov 02Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €63.4m (up 27% from 3Q 2024). Net income: €1.45m (up 106% from 3Q 2024). Profit margin: 2.3% (up from 1.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the IT industry in Europe.공시 • Oct 27Span d.d. to Report Q3, 2025 Results on Oct 27, 2025Span d.d. announced that they will report Q3, 2025 results on Oct 27, 2025Reported Earnings • Aug 01Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €56.3m (up 3.9% from 2Q 2024). Net income: €2.26m (up 148% from 2Q 2024). Profit margin: 4.0% (up from 1.7% in 2Q 2024). The increase in margin was driven by higher revenue.모든 업데이트 보기Recent updates분석 기사 • May 07Earnings Troubles May Signal Larger Issues for Span d.d (ZGSE:SPAN) ShareholdersThe subdued market reaction suggests that Span d.d.'s ( ZGSE:SPAN ) recent earnings didn't contain any surprises. Our...공시 • May 07Mladen Amidžic signed an agreement to acquire 30% stake in TRILIX d.o.o. from Span d.d. (ZGSE:SPAN).Mladen Amidžic signed an agreement to acquire 30% stake in TRILIX d.o.o. from Span d.d. (ZGSE:SPAN) on April 30, 2026. Span d.d. signed agreements on the transfer and sale of a total of 90% of the business shares in the subsidiary Trilix d.o.o. were signed. One agreement covers the sale of 60% of the shares to Trilix d.o.o., while the other agreement covers the sale of 30% of the shares to Mladen Amidžic.Reported Earnings • May 05First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: €65.3m (up 6.5% from 1Q 2025). Net income: €1.48m (down 45% from 1Q 2025). Profit margin: 2.3% (down from 4.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Declared Dividend • May 03Dividend increased to €1.35Dividend of €1.35 is 69% higher than last year. Ex-date: 24th June 2026 Payment date: 3rd July 2026 Dividend yield will be 2.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 5.5% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.공시 • May 02Span d.d. announces Annual dividend, payable on July 03, 2026Span d.d. announced Annual dividend of EUR 1.3500 per share payable on July 03, 2026, ex-date on June 24, 2026 and record date on June 25, 2026.Reported Earnings • Mar 06Full year 2025 earnings releasedFull year 2025 results: Revenue: €232.2m (up 29% from FY 2024). Net income: €5.76m (up 69% from FY 2024). Profit margin: 2.5% (up from 1.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the IT industry in Europe.Reported Earnings • Nov 02Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €63.4m (up 27% from 3Q 2024). Net income: €1.45m (up 106% from 3Q 2024). Profit margin: 2.3% (up from 1.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the IT industry in Europe.공시 • Oct 27Span d.d. to Report Q3, 2025 Results on Oct 27, 2025Span d.d. announced that they will report Q3, 2025 results on Oct 27, 2025Reported Earnings • Aug 01Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €56.3m (up 3.9% from 2Q 2024). Net income: €2.26m (up 148% from 2Q 2024). Profit margin: 4.0% (up from 1.7% in 2Q 2024). The increase in margin was driven by higher revenue.Upcoming Dividend • Jun 09Upcoming dividend of €0.80 per shareEligible shareholders must have bought the stock before 16 June 2025. Payment date: 01 July 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Croatian dividend payers (4.7%). Lower than average of industry peers (2.4%).분석 기사 • May 09We Think Span d.d's (ZGSE:SPAN) Profit Is Only A Baseline For What They Can AchieveSpan d.d. ( ZGSE:SPAN ) recently posted some strong earnings, and the market responded positively. We have done some...Reported Earnings • May 05First quarter 2025 earnings released: EPS: €1.37 (vs €0.71 in 1Q 2024)First quarter 2025 results: EPS: €1.37 (up from €0.71 in 1Q 2024). Revenue: €61.1m (up 80% from 1Q 2024). Net income: €2.68m (up 94% from 1Q 2024). Profit margin: 4.4% (up from 4.1% in 1Q 2024). The increase in margin was driven by higher revenue.Declared Dividend • May 02Dividend increased to €0.80Dividend of €0.80 is 167% higher than last year. Ex-date: 16th June 2025 Payment date: 1st July 2025 Dividend yield will be 1.6%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 47%. Cash payout ratio: 5%.공시 • May 01Span d.d. announces Annual dividend, payable on July 01, 2025Span d.d. announced Annual dividend of EUR 0.8000 per share payable on July 01, 2025, ex-date on June 16, 2025 and record date on June 17, 2025.공시 • Apr 25Span d.d. to Report Fiscal Year 2024 Final Results on Apr 30, 2025Span d.d. announced that they will report fiscal year 2024 final results on Apr 30, 2025분석 기사 • Apr 08The Return Trends At Span d.d (ZGSE:SPAN) Look PromisingWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? One common...New Risk • Apr 05New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €88.6m (US$97.1m) 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. This is currently the only risk that has been identified for the company.New Risk • Mar 03New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.9% Last year net profit margin: 3.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company.Reported Earnings • Mar 02Full year 2024 earnings releasedFull year 2024 results: Revenue: €182.0m (up 27% from FY 2023). Net income: €3.36m (up 193% from FY 2023). Profit margin: 1.8% (up from 0.8% in FY 2023). The increase in margin was driven by higher revenue.공시 • Feb 24Span d.d. to Report Fiscal Year 2024 Results on Feb 28, 2025Span d.d. announced that they will report fiscal year 2024 results on Feb 28, 2025New Risk • Nov 14New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €92.7m (US$97.5m) 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: Minor Risks Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (€92.7m market cap, or US$97.5m).분석 기사 • Nov 07Span d.d's (ZGSE:SPAN) Soft Earnings Don't Show The Whole PictureInvestors were disappointed with the weak earnings posted by Span d.d. ( ZGSE:SPAN ). While the headline numbers were...Reported Earnings • Nov 02Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €49.9m (up 18% from 3Q 2023). Net income: €702.2k (up 120% from 3Q 2023). Profit margin: 1.4% (up from 0.8% in 3Q 2023). The increase in margin was driven by higher revenue.공시 • Oct 25Span d.d. to Report Nine Months, 2024 Results on Oct 31, 2024Span d.d. announced that they will report nine months, 2024 results on Oct 31, 2024Reported Earnings • Aug 01Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €54.7m (up 47% from 2Q 2023). Net income: €912.8k (up 179% from 2Q 2023). Profit margin: 1.7% (up from 0.9% in 2Q 2023). The increase in margin was driven by higher revenue.New Risk • Jul 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Croatian stocks, typically moving 4.5% 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: Minor Risks Share price has been volatile over the past 3 months (4.5% average weekly change). Profit margins are more than 30% lower than last year (0.4% net profit margin).Upcoming Dividend • Jun 14Upcoming dividend of €0.30 per shareEligible shareholders must have bought the stock before 21 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Croatian dividend payers (4.4%). Higher than average of industry peers (2.2%).Reported Earnings • May 01First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: €34.8m (up 36% from 1Q 2023). Net income: €1.38m (down 26% from 1Q 2023). Profit margin: 4.0% (down from 7.3% in 1Q 2023). The decrease in margin was driven by higher expenses.New Risk • Mar 05New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €89.8m (US$97.5m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (€89.8m market cap, or US$97.5m).Reported Earnings • Mar 04Full year 2023 earnings releasedFull year 2023 results: Revenue: Kn144.3m (down 83% from FY 2022). Net income: Kn1.14m (down 98% from FY 2022). Profit margin: 0.8% (down from 6.0% in FY 2022). The decrease in margin was driven by lower revenue.New Risk • Nov 06New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.0% Last year net profit margin: 5.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (€83.4m market cap, or US$89.4m).Reported Earnings • Nov 06Third quarter 2023 earnings releasedThird quarter 2023 results: EPS: €0.17. Revenue: €42.2m (up 30% from 3Q 2022). Net income: €319.6k (down 84% from 3Q 2022). Profit margin: 0.8% (down from 6.1% in 3Q 2022). The decrease in margin was driven by higher expenses.New Risk • Oct 18New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €94.1m (US$99.1m) 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: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (€94.1m market cap, or US$99.1m).Valuation Update With 7 Day Price Move • Aug 11Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to €55.00, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 19x in the IT industry in Europe. Total returns to shareholders of 64% over the past year.New Risk • Aug 03New minor risk - Dividend sustainabilityThe company has a short dividend paying track record. Continuous dividend paying years: 1 Dividend yield: 2.0% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.Reported Earnings • Aug 03Second quarter 2023 earnings releasedSecond quarter 2023 results: EPS: €0.17. Revenue: €37.3m (up 27% from 2Q 2022). Net income: €327.7k (down 68% from 2Q 2022). Profit margin: 0.9% (down from 3.4% in 2Q 2022). The decrease in margin was driven by higher expenses.분석 기사 • Jul 11Estimating The Intrinsic Value Of Span d.d. (ZGSE:SPAN)Key Insights Span d.d's estimated fair value is €77.37 based on 2 Stage Free Cash Flow to Equity With €68.60 share...Buying Opportunity • Jul 06Now 20% undervaluedOver the last 90 days, the stock is up 16%. The fair value is estimated to be €76.83, 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 year. Earnings per share has grown by 31%.Buying Opportunity • Jun 17Now 20% undervaluedOver the last 90 days, the stock is up 24%. The fair value is estimated to be €76.98, 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 year. Earnings per share has grown by 31%.Upcoming Dividend • Jun 12Upcoming dividend of €1.33 per share at 1.1% yieldEligible shareholders must have bought the stock before 19 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Croatian dividend payers (4.3%). Lower than average of industry peers (2.3%).분석 기사 • Mar 08Many Would Be Envious Of SPAN d.d's (ZGSE:SPAN) Excellent Returns On CapitalIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll...Reported Earnings • Mar 03Full year 2022 earnings releasedFull year 2022 results: Revenue: Kn867.2m (up 13% from FY 2021). Net income: Kn50.2m (up 112% from FY 2021). Profit margin: 5.8% (up from 3.1% in FY 2021). The increase in margin was driven by higher revenue.Valuation Update With 7 Day Price Move • Feb 01Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €45.00, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 21x in the IT industry in Europe. Total returns to shareholders of 60% over the past year.분석 기사 • Dec 09Fewer Investors Than Expected Jumping On SPAN d.d. (ZGSE:SPAN)With a price-to-earnings (or "P/E") ratio of 10.9x SPAN d.d. ( ZGSE:SPAN ) may be sending bullish signals at the...Reported Earnings • Nov 02Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: Kn245.0m (up 26% from 3Q 2021). Net income: Kn14.8m (up 105% from 3Q 2021). Profit margin: 6.1% (up from 3.7% in 3Q 2021). The increase in margin was driven by higher revenue.Reported Earnings • Aug 01Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: Kn222.7m (down 14% from 2Q 2021). Net income: Kn7.62m (up Kn7.23m from 2Q 2021). Profit margin: 3.4% (up from 0.2% in 2Q 2021). The increase in margin was driven by lower expenses.Reported Earnings • May 01First quarter 2022 earnings releasedFirst quarter 2022 results: Revenue: Kn185.9m (up 3.1% from 1Q 2021). Net income: Kn17.5m (up 460% from 1Q 2021). Profit margin: 9.4% (up from 1.7% in 1Q 2021). The increase in margin was primarily driven by lower expenses.Valuation Update With 7 Day Price Move • Mar 15Investor sentiment improved over the past weekAfter last week's 20% share price gain to Kn214, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 21x in the IT industry in Europe.분석 기사 • Mar 08SPAN d.d's (ZGSE:SPAN) Robust Earnings Are Supported By Other Strong FactorsThe subdued stock price reaction suggests that SPAN d.d.'s ( ZGSE:SPAN ) strong earnings didn't offer any surprises...Valuation Update With 7 Day Price Move • Nov 11Investor sentiment improved over the past weekAfter last week's 19% share price gain to Kn245, the stock trades at a trailing P/E ratio of 61.6x. Average trailing P/E is 26x in the IT industry in Europe.매출 및 비용 세부 내역Span d.d가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이ZGSE:SPAN 매출, 비용 및 순이익 (EUR Millions)날짜매출순이익일반관리비연구개발비31 Mar 2623550031 Dec 2523160030 Sep 2522371030 Jun 2520961031 Mar 2520751031 Dec 2418031030 Sep 2417522030 Jun 2416812031 Mar 2415112031 Dec 2314312030 Sep 2312941030 Jun 2311961031 Mar 2311161031 Dec 2211071030 Sep 2211161030 Jun 2210451031 Mar 2210841031 Dec 2110231030 Sep 2110221030 Jun 219121031 Mar 217721031 Dec 208111031 Dec 196301031 Dec 185311031 Dec 174711031 Dec 1639110양질의 수익: SPAN는 고품질 수익을 보유하고 있습니다.이익 마진 증가: SPAN의 현재 순 이익률 (1.9%)은 지난해 (2.3%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: SPAN의 수익은 지난 5년 동안 연평균 7.5% 증가했습니다.성장 가속화: SPAN은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.수익 대 산업: SPAN은 지난 1년 동안 수익이 감소(-2.9%)하여 IT 업계 평균(-1.5%)과 비교하기 어렵습니다.자기자본이익률높은 ROE: SPAN의 자본 수익률(11.3%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YSoftware 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/21 15:20종가2026/05/21 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 소스Span d.d.는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Marin OrelInterCapital Securities Ltd.
분석 기사 • May 07Earnings Troubles May Signal Larger Issues for Span d.d (ZGSE:SPAN) ShareholdersThe subdued market reaction suggests that Span d.d.'s ( ZGSE:SPAN ) recent earnings didn't contain any surprises. Our...
Reported Earnings • May 05First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: €65.3m (up 6.5% from 1Q 2025). Net income: €1.48m (down 45% from 1Q 2025). Profit margin: 2.3% (down from 4.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 06Full year 2025 earnings releasedFull year 2025 results: Revenue: €232.2m (up 29% from FY 2024). Net income: €5.76m (up 69% from FY 2024). Profit margin: 2.5% (up from 1.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the IT industry in Europe.
Reported Earnings • Nov 02Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €63.4m (up 27% from 3Q 2024). Net income: €1.45m (up 106% from 3Q 2024). Profit margin: 2.3% (up from 1.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the IT industry in Europe.
공시 • Oct 27Span d.d. to Report Q3, 2025 Results on Oct 27, 2025Span d.d. announced that they will report Q3, 2025 results on Oct 27, 2025
Reported Earnings • Aug 01Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €56.3m (up 3.9% from 2Q 2024). Net income: €2.26m (up 148% from 2Q 2024). Profit margin: 4.0% (up from 1.7% in 2Q 2024). The increase in margin was driven by higher revenue.
분석 기사 • May 07Earnings Troubles May Signal Larger Issues for Span d.d (ZGSE:SPAN) ShareholdersThe subdued market reaction suggests that Span d.d.'s ( ZGSE:SPAN ) recent earnings didn't contain any surprises. Our...
공시 • May 07Mladen Amidžic signed an agreement to acquire 30% stake in TRILIX d.o.o. from Span d.d. (ZGSE:SPAN).Mladen Amidžic signed an agreement to acquire 30% stake in TRILIX d.o.o. from Span d.d. (ZGSE:SPAN) on April 30, 2026. Span d.d. signed agreements on the transfer and sale of a total of 90% of the business shares in the subsidiary Trilix d.o.o. were signed. One agreement covers the sale of 60% of the shares to Trilix d.o.o., while the other agreement covers the sale of 30% of the shares to Mladen Amidžic.
Reported Earnings • May 05First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: €65.3m (up 6.5% from 1Q 2025). Net income: €1.48m (down 45% from 1Q 2025). Profit margin: 2.3% (down from 4.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Declared Dividend • May 03Dividend increased to €1.35Dividend of €1.35 is 69% higher than last year. Ex-date: 24th June 2026 Payment date: 3rd July 2026 Dividend yield will be 2.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 5.5% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
공시 • May 02Span d.d. announces Annual dividend, payable on July 03, 2026Span d.d. announced Annual dividend of EUR 1.3500 per share payable on July 03, 2026, ex-date on June 24, 2026 and record date on June 25, 2026.
Reported Earnings • Mar 06Full year 2025 earnings releasedFull year 2025 results: Revenue: €232.2m (up 29% from FY 2024). Net income: €5.76m (up 69% from FY 2024). Profit margin: 2.5% (up from 1.9% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the IT industry in Europe.
Reported Earnings • Nov 02Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: €63.4m (up 27% from 3Q 2024). Net income: €1.45m (up 106% from 3Q 2024). Profit margin: 2.3% (up from 1.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the IT industry in Europe.
공시 • Oct 27Span d.d. to Report Q3, 2025 Results on Oct 27, 2025Span d.d. announced that they will report Q3, 2025 results on Oct 27, 2025
Reported Earnings • Aug 01Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €56.3m (up 3.9% from 2Q 2024). Net income: €2.26m (up 148% from 2Q 2024). Profit margin: 4.0% (up from 1.7% in 2Q 2024). The increase in margin was driven by higher revenue.
Upcoming Dividend • Jun 09Upcoming dividend of €0.80 per shareEligible shareholders must have bought the stock before 16 June 2025. Payment date: 01 July 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Croatian dividend payers (4.7%). Lower than average of industry peers (2.4%).
분석 기사 • May 09We Think Span d.d's (ZGSE:SPAN) Profit Is Only A Baseline For What They Can AchieveSpan d.d. ( ZGSE:SPAN ) recently posted some strong earnings, and the market responded positively. We have done some...
Reported Earnings • May 05First quarter 2025 earnings released: EPS: €1.37 (vs €0.71 in 1Q 2024)First quarter 2025 results: EPS: €1.37 (up from €0.71 in 1Q 2024). Revenue: €61.1m (up 80% from 1Q 2024). Net income: €2.68m (up 94% from 1Q 2024). Profit margin: 4.4% (up from 4.1% in 1Q 2024). The increase in margin was driven by higher revenue.
Declared Dividend • May 02Dividend increased to €0.80Dividend of €0.80 is 167% higher than last year. Ex-date: 16th June 2025 Payment date: 1st July 2025 Dividend yield will be 1.6%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 47%. Cash payout ratio: 5%.
공시 • May 01Span d.d. announces Annual dividend, payable on July 01, 2025Span d.d. announced Annual dividend of EUR 0.8000 per share payable on July 01, 2025, ex-date on June 16, 2025 and record date on June 17, 2025.
공시 • Apr 25Span d.d. to Report Fiscal Year 2024 Final Results on Apr 30, 2025Span d.d. announced that they will report fiscal year 2024 final results on Apr 30, 2025
분석 기사 • Apr 08The Return Trends At Span d.d (ZGSE:SPAN) Look PromisingWhat trends should we look for it we want to identify stocks that can multiply in value over the long term? One common...
New Risk • Apr 05New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €88.6m (US$97.1m) 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. This is currently the only risk that has been identified for the company.
New Risk • Mar 03New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.9% Last year net profit margin: 3.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company.
Reported Earnings • Mar 02Full year 2024 earnings releasedFull year 2024 results: Revenue: €182.0m (up 27% from FY 2023). Net income: €3.36m (up 193% from FY 2023). Profit margin: 1.8% (up from 0.8% in FY 2023). The increase in margin was driven by higher revenue.
공시 • Feb 24Span d.d. to Report Fiscal Year 2024 Results on Feb 28, 2025Span d.d. announced that they will report fiscal year 2024 results on Feb 28, 2025
New Risk • Nov 14New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €92.7m (US$97.5m) 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: Minor Risks Profit margins are more than 30% lower than last year (0.9% net profit margin). Market cap is less than US$100m (€92.7m market cap, or US$97.5m).
분석 기사 • Nov 07Span d.d's (ZGSE:SPAN) Soft Earnings Don't Show The Whole PictureInvestors were disappointed with the weak earnings posted by Span d.d. ( ZGSE:SPAN ). While the headline numbers were...
Reported Earnings • Nov 02Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €49.9m (up 18% from 3Q 2023). Net income: €702.2k (up 120% from 3Q 2023). Profit margin: 1.4% (up from 0.8% in 3Q 2023). The increase in margin was driven by higher revenue.
공시 • Oct 25Span d.d. to Report Nine Months, 2024 Results on Oct 31, 2024Span d.d. announced that they will report nine months, 2024 results on Oct 31, 2024
Reported Earnings • Aug 01Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €54.7m (up 47% from 2Q 2023). Net income: €912.8k (up 179% from 2Q 2023). Profit margin: 1.7% (up from 0.9% in 2Q 2023). The increase in margin was driven by higher revenue.
New Risk • Jul 25New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Croatian stocks, typically moving 4.5% 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: Minor Risks Share price has been volatile over the past 3 months (4.5% average weekly change). Profit margins are more than 30% lower than last year (0.4% net profit margin).
Upcoming Dividend • Jun 14Upcoming dividend of €0.30 per shareEligible shareholders must have bought the stock before 21 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of Croatian dividend payers (4.4%). Higher than average of industry peers (2.2%).
Reported Earnings • May 01First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: €34.8m (up 36% from 1Q 2023). Net income: €1.38m (down 26% from 1Q 2023). Profit margin: 4.0% (down from 7.3% in 1Q 2023). The decrease in margin was driven by higher expenses.
New Risk • Mar 05New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €89.8m (US$97.5m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (€89.8m market cap, or US$97.5m).
Reported Earnings • Mar 04Full year 2023 earnings releasedFull year 2023 results: Revenue: Kn144.3m (down 83% from FY 2022). Net income: Kn1.14m (down 98% from FY 2022). Profit margin: 0.8% (down from 6.0% in FY 2022). The decrease in margin was driven by lower revenue.
New Risk • Nov 06New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.0% Last year net profit margin: 5.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (€83.4m market cap, or US$89.4m).
Reported Earnings • Nov 06Third quarter 2023 earnings releasedThird quarter 2023 results: EPS: €0.17. Revenue: €42.2m (up 30% from 3Q 2022). Net income: €319.6k (down 84% from 3Q 2022). Profit margin: 0.8% (down from 6.1% in 3Q 2022). The decrease in margin was driven by higher expenses.
New Risk • Oct 18New minor risk - Market cap sizeThe company's market capitalization is less than US$100m. Market cap: €94.1m (US$99.1m) 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: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (€94.1m market cap, or US$99.1m).
Valuation Update With 7 Day Price Move • Aug 11Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to €55.00, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 19x in the IT industry in Europe. Total returns to shareholders of 64% over the past year.
New Risk • Aug 03New minor risk - Dividend sustainabilityThe company has a short dividend paying track record. Continuous dividend paying years: 1 Dividend yield: 2.0% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company.
Reported Earnings • Aug 03Second quarter 2023 earnings releasedSecond quarter 2023 results: EPS: €0.17. Revenue: €37.3m (up 27% from 2Q 2022). Net income: €327.7k (down 68% from 2Q 2022). Profit margin: 0.9% (down from 3.4% in 2Q 2022). The decrease in margin was driven by higher expenses.
분석 기사 • Jul 11Estimating The Intrinsic Value Of Span d.d. (ZGSE:SPAN)Key Insights Span d.d's estimated fair value is €77.37 based on 2 Stage Free Cash Flow to Equity With €68.60 share...
Buying Opportunity • Jul 06Now 20% undervaluedOver the last 90 days, the stock is up 16%. The fair value is estimated to be €76.83, 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 year. Earnings per share has grown by 31%.
Buying Opportunity • Jun 17Now 20% undervaluedOver the last 90 days, the stock is up 24%. The fair value is estimated to be €76.98, 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 year. Earnings per share has grown by 31%.
Upcoming Dividend • Jun 12Upcoming dividend of €1.33 per share at 1.1% yieldEligible shareholders must have bought the stock before 19 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Croatian dividend payers (4.3%). Lower than average of industry peers (2.3%).
분석 기사 • Mar 08Many Would Be Envious Of SPAN d.d's (ZGSE:SPAN) Excellent Returns On CapitalIf we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll...
Reported Earnings • Mar 03Full year 2022 earnings releasedFull year 2022 results: Revenue: Kn867.2m (up 13% from FY 2021). Net income: Kn50.2m (up 112% from FY 2021). Profit margin: 5.8% (up from 3.1% in FY 2021). The increase in margin was driven by higher revenue.
Valuation Update With 7 Day Price Move • Feb 01Investor sentiment improves as stock rises 15%After last week's 15% share price gain to €45.00, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 21x in the IT industry in Europe. Total returns to shareholders of 60% over the past year.
분석 기사 • Dec 09Fewer Investors Than Expected Jumping On SPAN d.d. (ZGSE:SPAN)With a price-to-earnings (or "P/E") ratio of 10.9x SPAN d.d. ( ZGSE:SPAN ) may be sending bullish signals at the...
Reported Earnings • Nov 02Third quarter 2022 earnings releasedThird quarter 2022 results: Revenue: Kn245.0m (up 26% from 3Q 2021). Net income: Kn14.8m (up 105% from 3Q 2021). Profit margin: 6.1% (up from 3.7% in 3Q 2021). The increase in margin was driven by higher revenue.
Reported Earnings • Aug 01Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: Kn222.7m (down 14% from 2Q 2021). Net income: Kn7.62m (up Kn7.23m from 2Q 2021). Profit margin: 3.4% (up from 0.2% in 2Q 2021). The increase in margin was driven by lower expenses.
Reported Earnings • May 01First quarter 2022 earnings releasedFirst quarter 2022 results: Revenue: Kn185.9m (up 3.1% from 1Q 2021). Net income: Kn17.5m (up 460% from 1Q 2021). Profit margin: 9.4% (up from 1.7% in 1Q 2021). The increase in margin was primarily driven by lower expenses.
Valuation Update With 7 Day Price Move • Mar 15Investor sentiment improved over the past weekAfter last week's 20% share price gain to Kn214, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 21x in the IT industry in Europe.
분석 기사 • Mar 08SPAN d.d's (ZGSE:SPAN) Robust Earnings Are Supported By Other Strong FactorsThe subdued stock price reaction suggests that SPAN d.d.'s ( ZGSE:SPAN ) strong earnings didn't offer any surprises...
Valuation Update With 7 Day Price Move • Nov 11Investor sentiment improved over the past weekAfter last week's 19% share price gain to Kn245, the stock trades at a trailing P/E ratio of 61.6x. Average trailing P/E is 26x in the IT industry in Europe.