공시 • Jun 10
Toscana Aeroporti S.p.A. (BIT:TYA) agreed to acquire 49% stake in Jet Fuel Co. S.r.l. from Air BP Italia S.p.A. and Carboil S.r.l. Toscana Aeroporti S.p.A. (BIT:TYA) agreed to acquire 49% stake in Jet Fuel Co. S.r.l. from Air BP Italia S.p.A. and Carboil S.r.l. on June 8, 2026.
Piero de Mattia and Iacopo Canino of Hogan Lovells Studio Legale acted as legal advisor for Jet Fuel Co. S.r.l. and Toscana Aeroporti S.p.A. New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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 High level of debt (60% net debt to equity). Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Dividend is not well covered by cash flows (98% cash payout ratio). 공시 • Mar 23
Toscana Aeroporti S.p.A., Annual General Meeting, Apr 29, 2026 Toscana Aeroporti S.p.A., Annual General Meeting, Apr 29, 2026, at 11:00 W. Europe Standard Time. 공시 • Mar 13
Toscana Aeroporti S.p.A. announces Annual dividend, payable on July 22, 2026 Toscana Aeroporti S.p.A. announced Annual dividend of EUR 0.3760 per share payable on July 22, 2026, ex-date on July 20, 2026 and record date on July 21, 2026. 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 5.8% 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 High level of debt (60% net debt to equity). Dividend is not well covered by cash flows (98% cash payout ratio). Share price has been volatile over the past 3 months (5.8% average weekly change). Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: €0.44 (vs €0.39 in 3Q 2024) Third quarter 2025 results: EPS: €0.44 (up from €0.39 in 3Q 2024). Revenue: €42.5m (up 11% from 3Q 2024). Net income: €8.14m (up 12% from 3Q 2024). Profit margin: 19% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 14
Second quarter 2025 earnings released: EPS: €0.35 (vs €0.34 in 2Q 2024) Second quarter 2025 results: EPS: €0.35 (up from €0.34 in 2Q 2024). Revenue: €40.6m (up 24% from 2Q 2024). Net income: €6.61m (up 5.2% from 2Q 2024). Profit margin: 16% (down from 19% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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: Minor Risks High level of debt (65% net debt to equity). Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • May 05
Upcoming dividend of €0.38 per share Eligible shareholders must have bought the stock before 12 May 2025. Payment date: 14 May 2025. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Italian dividend payers (5.5%). Lower than average of industry peers (7.2%). 공시 • Mar 18
Toscana Aeroporti S.p.A. announces Annual dividend, payable on May 14, 2025 Toscana Aeroporti S.p.A. announced Annual dividend of EUR 0.3760 per share payable on May 14, 2025, ex-date on May 12, 2025 and record date on May 13, 2025. 공시 • Mar 17
Toscana Aeroporti S.p.A., Annual General Meeting, Apr 29, 2025 Toscana Aeroporti S.p.A., Annual General Meeting, Apr 29, 2025. New Risk • Jan 24
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 High level of debt (65% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.6% average weekly change). Reported Earnings • Nov 18
Third quarter 2024 earnings released: EPS: €0.39 (vs €0.50 in 3Q 2023) Third quarter 2024 results: EPS: €0.39 (down from €0.50 in 3Q 2023). Revenue: €38.7m (down 2.7% from 3Q 2023). Net income: €7.24m (down 22% from 3Q 2023). Profit margin: 19% (down from 23% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 22
Upcoming dividend of €0.38 per share Eligible shareholders must have bought the stock before 29 July 2024. Payment date: 31 July 2024. Trailing yield: 2.8%. Lower than top quartile of Italian dividend payers (5.4%). Lower than average of industry peers (6.3%). Declared Dividend • Jun 28
Dividend of €0.38 announced Shareholders will receive a dividend of €0.38. Ex-date: 29th July 2024 Payment date: 31st July 2024 Dividend yield will be 3.3%, which is lower than the industry average of 3.5%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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: Minor Risks High level of debt (77% net debt to equity). Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: €0.50 (vs €0.19 in 3Q 2022) Third quarter 2023 results: EPS: €0.50 (up from €0.19 in 3Q 2022). Revenue: €51.1m (up 48% from 3Q 2022). Net income: €9.27m (up 149% from 3Q 2022). Profit margin: 18% (up from 11% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Infrastructure industry in Italy. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. New Risk • Sep 28
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 80% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (80% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Sep 24
Second quarter 2023 earnings released: EPS: €0.18 (vs €0.071 in 2Q 2022) Second quarter 2023 results: EPS: €0.18 (up from €0.071 in 2Q 2022). Revenue: €29.3m (down 4.8% from 2Q 2022). Net income: €3.33m (up 152% from 2Q 2022). Profit margin: 11% (up from 4.3% in 2Q 2022). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Infrastructure industry in Italy. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 17
Upcoming dividend of €0.38 per share at 2.9% yield Eligible shareholders must have bought the stock before 24 July 2023. Payment date: 26 July 2023. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Italian dividend payers (5.2%). In line with average of industry peers (3.2%). Major Estimate Revision • Mar 26
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €148.7m to €124.2m. EPS estimate fell from €0.40 to €0.27 per share. Net income forecast to grow 74% next year vs 3.9% growth forecast for Infrastructure industry in Italy. Consensus price target broadly unchanged at €13.00. Share price rose 5.3% to €12.00 over the past week. Reported Earnings • Mar 18
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: €0.25 (up from €0.28 loss in FY 2021). Revenue: €91.1m (up 26% from FY 2021). Net income: €4.68m (up €9.93m from FY 2021). Profit margin: 5.1% (up from net loss in FY 2021). Revenue missed analyst estimates by 17%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Infrastructure industry in Italy. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. Major Estimate Revision • Sep 30
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €94.9m to €103.1m. Now expected to report loss of -€0.11 instead of €0.08 per share profit. Infrastructure industry in Italy expected to see average net income growth of 29% next year. Consensus price target down from €13.40 to €12.80. Share price was steady at €11.65 over the past week. Price Target Changed • Sep 29
Price target decreased to €12.80 Down from €13.80, the current price target is provided by 1 analyst. New target price is 11% above last closing price of €11.50. Stock is down 13% over the past year. The company is forecast to post earnings per share of €0.08 next year compared to a net loss per share of €0.28 last year. Reported Earnings • Sep 12
Second quarter 2022 earnings released: EPS: €0.071 (vs €0.30 loss in 2Q 2021) Second quarter 2022 results: EPS: €0.071 (up from €0.30 loss in 2Q 2021). Revenue: €31.5m (up 149% from 2Q 2021). Net income: €1.32m (up €6.92m from 2Q 2021). Profit margin: 4.2% (up from net loss in 2Q 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Infrastructure industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 16
Upcoming dividend of €0.38 per share Eligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. The company last paid an ordinary dividend in March 2012. The average dividend yield among industry peers is 2.6%. Reported Earnings • May 15
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: €0.25 loss per share (up from €0.41 loss in 1Q 2021). Revenue: €15.2m (up 128% from 1Q 2021). Net loss: €4.73m (loss narrowed 39% from 1Q 2021). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 50%, compared to a 7.0% growth forecast for the industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Mar 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €84.7m to €97.1m. EPS estimate unchanged from -€0.21 at last update. Infrastructure industry in Italy expected to see average net income growth of 8.5% next year. Consensus price target of €13.80 unchanged from last update. Share price fell 2.4% to €11.95 over the past week. Reported Earnings • Nov 18
Third quarter 2021 earnings released: €0.13 loss per share (vs €0.21 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: €20.5m (up 55% from 3Q 2020). Net loss: €2.39m (loss narrowed 38% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 10
Second quarter 2021 earnings released: €0.30 loss per share (vs €0.32 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: €13.6m (up 237% from 2Q 2020). Net loss: €5.59m (loss narrowed 6.0% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2021 earnings released The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: €6.81m (down 65% from 1Q 2020). Net loss: €7.73m (loss widened 162% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Apr 08
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from €85.5m to €68.4m. EPS estimate increased from -€0.31 to -€0.25 per share. Infrastructure industry in Italy expected to see average net income growth of 10% next year. Consensus price target down from €15.59 to €14.40. Share price was steady at €13.90 over the past week. Reported Earnings • Mar 14
Full year 2020 earnings released: €0.67 loss per share (vs €0.76 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €61.0m (down 53% from FY 2019). Net loss: €12.5m (down 188% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 14
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 4.7%. Over the next year, revenue is forecast to grow 40%, compared to a 16% growth forecast for the Infrastructure industry in Italy. Is New 90 Day High Low • Feb 24
New 90-day low: €13.20 The company is down 7.0% from its price of €14.15 on 26 November 2020. The Italian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 11
New 90-day high: €14.45 The company is up 8.0% from its price of €13.40 on 11 September 2020. The Italian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Infrastructure industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 10
New 90-day high: €14.00 The company is up 4.0% from its price of €13.40 on 11 August 2020. The Italian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Infrastructure industry, which is down 2.0% over the same period. Analyst Estimate Surprise Post Earnings • Nov 06
Revenue misses expectations Revenue missed analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 12% compared to a 7.2% decline forecast for the Infrastructure industry in Italy. Reported Earnings • Nov 06
Third quarter 2020 earnings released: €0.21 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: €13.8m (down 63% from 3Q 2019). Net loss: €3.86m (down 155% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 16
New 90-day low: €12.60 The company is down 11% from its price of €14.10 on 17 July 2020. The Italian market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Infrastructure industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: €13.05 The company is down 6.0% from its price of €13.95 on 24 June 2020. The Italian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Infrastructure industry, which is down 7.0% over the same period.