New Risk • Dec 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.8% per year over the past 5 years. Market cap is less than US$10m (€8.98m market cap, or US$9.49m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$10m (€8.31m market cap, or US$9.25m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Jun 05
New major risk - Revenue and earnings growth Earnings have declined by 1.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€6.3m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 1.4% per year over the past 5 years. Market cap is less than US$10m (€8.68m market cap, or US$9.44m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (€2.9m revenue, or US$3.2m). New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€6.65m market cap, or US$7.07m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Feb 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.20m (US$9.91m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Market cap is less than US$10m (€9.20m market cap, or US$9.91m). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Statutory Auditor Maria Blefari was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Sep 30
First half 2022 earnings released: EPS: €0 (vs €0.002 in 1H 2021) First half 2022 results: EPS: €0 (down from €0.002 in 1H 2021). Net loss: €4.78m (down €4.85m from profit in 1H 2021). Upcoming Dividend • May 02
Upcoming dividend of €0.04 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 7.8%. Within top quartile of Italian dividend payers (4.7%). Higher than average of industry peers (3.8%). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Statutory Auditor Maria Blefari was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • May 04
Upcoming dividend of €0.027 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 12 May 2021. Trailing yield: 5.2%. Within top quartile of Italian dividend payers (3.9%). Higher than average of industry peers (2.0%). Is New 90 Day High Low • Mar 01
New 90-day low: €0.24 The company is down 6.0% from its price of €0.26 on 01 December 2020. The Italian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 23% over the same period. Is New 90 Day High Low • Feb 11
New 90-day low: €0.25 The company is down 7.0% from its price of €0.27 on 12 November 2020. The Italian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 28% over the same period. Is New 90 Day High Low • Oct 14
New 90-day low: €0.25 The company is down 10.0% from its price of €0.28 on 16 July 2020. The Italian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 14% over the same period.