Reported Earnings • Apr 16
Full year 2025 earnings released: EPS: €0.041 (vs €0.073 in FY 2024) Full year 2025 results: EPS: €0.041 (down from €0.073 in FY 2024). Revenue: €4.43m (down 32% from FY 2024). Net income: €901.8k (down 44% from FY 2024). Profit margin: 20% (down from 25% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. 공고 • Mar 03
CPI Property Group (XTRA:O5G) proposed to acquire remaining 40.2% stake in Next Re SIIQ S.p.A. (BIT:NR) for €13.2 million. CPI Property Group (XTRA:O5G) proposed to acquire remaining 40.2% stake in Next Re SIIQ S.p.A. (BIT:NR) for €13.2 million on March 2, 2026. A cash consideration of €3 per share will be paid by CPI Property Group. The Consideration is understood to be cum dividend. As of date, Next Re SIIQ has 11,013,054 ordinary shares with no par value admitted to listing and traded on the regulated market Euronext Milan consisting of 38,205 treasury shares. Out of these shares CPI Property owns 4,413,586 Listed Shares. Next Re SIIQ also has 11,012,055 Class B Shares which are all owned by the Offeror. The Offer therefore concerns a maximum of 4,413,586 Listed Shares, representing approximately 20.04% of the Issuer's share capital and 40.22% of the voting rights at the Issuer's ordinary shareholders' meetings and is aimed at obtaining the delisting of the Shares from Euronext Milan, organized and managed by Borsa Italiana. The Offer is the means by which the Offeror intends to acquire all of the Shares Subject to the Offer and, consequently, proceed with the Delisting of the Issuer. Upon completion, CPI Property Group will own 100% stake in Next Re SIIQ S.p.A. If the Delisting is not achieved as a result of the Offer, the Offeror intends to achieve the objective of Delisting, subject to the relevant approval by the competent corporate bodies, through the merger by incorporation of the Issuer with an unlisted subsidiary of the Offeror, to be established for this purpose. Upon completion of the Merger for Delisting, holders of Listed Shares who do not exercise their right of withdrawal would become holders of a stake in the share capital of an unlisted company. The Offeror intends to cover the Maximum Total Outlay using its own funds, without incurring financial debt.
The transaction is subject to minimum tender of 90% and non-occurrence, by the second trading day prior to the date of payment of the Consideration of any extraordinary and unforeseeable events. By the end of the Acceptance Period, as may be extended, a total stake of more than 90% of the share capital represented by the Issuer's Listed Shares, but less than 95% of the Issuer's share capital, the Offeror hereby declares its intention not to restore a free float sufficient to ensure the regular trading of the Listed Shares. If even one of the Conditions of Effectiveness is not met and the Offeror does not exercise its right to waive it, the Offer will not be completed.
Dentons Europe Studio Legale Tributario acted as legal advisor for CPI Property Group. New Risk • Feb 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by cash flows (141% cash payout ratio). Share price has been volatile over the past 3 months (5.8% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€63.8m market cap, or US$75.7m). New Risk • Jan 22
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 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (141% cash payout ratio). Share price has been volatile over the past 3 months (5.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€63.3m market cap, or US$74.4m). New Risk • Jul 25
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 5.6% 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 (5.6% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€63.8m market cap, or US$74.9m). Upcoming Dividend • Apr 28
Upcoming dividend of €0.06 per share Eligible shareholders must have bought the stock before 05 May 2025. Payment date: 07 May 2025. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Italian dividend payers (5.7%). Lower than average of industry peers (3.1%). Reported Earnings • Apr 01
Full year 2024 earnings released Full year 2024 results: Revenue: €6.48m (up 1.4% from FY 2023). Net income: €1.61m (up €11.1m from FY 2023). Profit margin: 25% (up from net loss in FY 2023). Buy Or Sell Opportunity • Mar 17
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 2.0% to €3.08. The fair value is estimated to be €2.52, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 68%. 공고 • Mar 16
Next Re SIIQ S.p.A. announces Annual dividend, payable on May 07, 2025 Next Re SIIQ S.p.A. announced Annual dividend of EUR 0.0600 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025. 공고 • Mar 14
Next Re SIIQ S.p.A., Annual General Meeting, Apr 18, 2025 Next Re SIIQ S.p.A., Annual General Meeting, Apr 18, 2025. Buy Or Sell Opportunity • Feb 18
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at €3.28. The fair value is estimated to be €2.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 68%. New Risk • Feb 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 2024. 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 Earnings have declined by 23% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€69.9m market cap, or US$73.4m). New Risk • Jan 06
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 5.7% 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 Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (€66.4m market cap, or US$69.0m). New Risk • Aug 07
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 5.5% 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: Major Risk Earnings have declined by 23% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (€72.1m market cap, or US$78.7m). Reported Earnings • Apr 02
Full year 2023 earnings released Full year 2023 results: Net loss: €9.44m (down €9.79m from profit in FY 2022). Reported Earnings • Sep 20
First half 2023 earnings released First half 2023 results: Net loss: €6.09m (down €6.26m from profit in 1H 2022). Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Sep 18
New major risk - Revenue and earnings growth Earnings have declined by 34% 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 (-€5.5m free cash flow). Earnings have declined by 34% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€74.3m market cap, or US$79.2m). Board Change • Nov 16
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 3 experienced directors. No highly experienced directors. CEO, MD, GM & Director Stefano Cervone is the most experienced director on the board, commencing their role in 2018. 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 • Aug 08
First half 2022 earnings released First half 2022 results: Net income: (down €2.02m from profit in 1H 2021). Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. CEO, MD, GM & Director Stefano Cervone is the most experienced director on the board, commencing their role in 2018. 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 • Sep 26
First half 2021 earnings released: EPS €0.092 (vs €0.43 loss in 1H 2020) First half 2021 results: Net income: €2.02m (up €6.72m from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 17
Full year 2020 earnings released Full year 2020 results: Net loss: €9.32m (down €9.69m from profit in FY 2019). Is New 90 Day High Low • Mar 02
New 90-day high: €2.45 The company is up 4.0% from its price of €2.35 on 02 December 2020. The Italian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Real Estate industry, which is also up 4.0% over the same period. Is New 90 Day High Low • Feb 01
New 90-day low: €2.31 The company is down 2.0% from its price of €2.36 on 03 November 2020. The Italian market is up 15% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Real Estate industry, which is also down 2.0% over the same period. Is New 90 Day High Low • Oct 09
New 90-day low: €2.36 The company is down 13% from its price of €2.71 on 10 July 2020. The Italian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 7.0% over the same period. Reported Earnings • Sep 30
First half earnings released Over the last 12 months the company has reported total losses of €4.65m, with earnings decreasing by €6.24m from the prior year. Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total losses of €4.65m, with earnings decreasing by €6.24m from the prior year.