New Risk • Feb 24
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: Major Risk Earnings have declined by 12% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). 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 (53% net profit margin). Market cap is less than US$100m (€62.4m market cap, or US$73.5m). Recent Insider Transactions • Jan 08
Chairman of the Board & CEO recently bought €81k worth of stock On the 30th of December, Peter Paul de Vries bought around 12k shares on-market at roughly €6.58 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Peter Paul has been a buyer over the last 12 months, purchasing a net total of €656k worth in shares. New Risk • Sep 04
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 Dutch 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 12% per year over the past 5 years. Minor Risks 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 (5.5% average weekly change). Profit margins are more than 30% lower than last year (53% net profit margin). Market cap is less than US$100m (€63.4m market cap, or US$73.9m). New Risk • Aug 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 53% Last year net profit margin: 84% 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 Earnings have declined by 12% per year over the past 5 years. 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 (53% net profit margin). Market cap is less than US$100m (€59.5m market cap, or US$69.1m). Recent Insider Transactions • Jun 25
Chairman of the Board & CEO recently bought €62k worth of stock On the 16th of June, Peter Paul de Vries bought around 10k shares on-market at roughly €6.12 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Peter Paul has been a buyer over the last 12 months, purchasing a net total of €318k worth in shares. Recent Insider Transactions • Jun 15
Chairman of the Board & CEO recently bought €55k worth of stock On the 6th of June, Peter Paul de Vries bought around 9k shares on-market at roughly €6.10 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Peter Paul has been a buyer over the last 12 months, purchasing a net total of €196k worth in shares. Recent Insider Transactions • Mar 26
Chairman of the Board & CEO recently bought €2.7m worth of stock On the 19th of March, Peter Paul de Vries bought around 5k shares on-market at roughly €580 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Peter Paul has been a buyer over the last 12 months, purchasing a net total of €3.2m worth in shares. New Risk • Feb 24
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 3.0% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Dividend is not well covered by cash flows (96% cash payout ratio). Market cap is less than US$100m (€54.7m market cap, or US$57.3m). New Risk • Feb 23
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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 128% Cash payout ratio: 102% Earnings have declined by 14% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (40% net profit margin). Revenue is less than US$5m (€3.5m revenue, or US$3.7m). Market cap is less than US$100m (€51.6m market cap, or US$55.9m). Buying Opportunity • Apr 17
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €7.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 44%. Buying Opportunity • Feb 03
Now 21% undervalued Over the last 90 days, the stock is up 1.1%. The fair value is estimated to be €7.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 44%. Buying Opportunity • Jan 17
Now 21% undervalued Over the last 90 days, the stock is up 2.1%. The fair value is estimated to be €7.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 44%. Upcoming Dividend • Jul 13
Upcoming dividend of €0.17 per share Eligible shareholders must have bought the stock before 20 July 2022. Payment date: 09 August 2022. Payout ratio is a comfortable 9.1% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Dutch dividend payers (6.5%). Lower than average of industry peers (3.6%). Recent Insider Transactions • May 23
Chairman of the Board & CEO recently bought €119k worth of stock On the 14th of May, Peter Paul de Vries bought around 19k shares on-market at roughly €6.28 per share. In the last 3 months, they made an even bigger purchase worth €164k. Peter Paul has been a buyer over the last 12 months, purchasing a net total of €559k worth in shares. Recent Insider Transactions • Mar 28
Chairman of the Board & CEO recently bought €73k worth of stock On the 22nd of March, Peter Paul de Vries bought around 12k shares on-market at roughly €5.88 per share. In the last 3 months, they made an even bigger purchase worth €164k. Peter Paul has been a buyer over the last 12 months, purchasing a net total of €410k worth in shares. Recent Insider Transactions • Mar 06
Chairman of the Board & CEO recently bought €164k worth of stock On the 26th of February, Peter Paul de Vries bought around 30k shares on-market at roughly €5.47 per share. This was the largest purchase by an insider in the last 3 months. Peter Paul has been a buyer over the last 12 months, purchasing a net total of €214k worth in shares. Is New 90 Day High Low • Feb 26
New 90-day high: €5.42 The company is up 8.0% from its price of €5.00 on 27 November 2020. The Dutch market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: €5.28 The company is up 7.0% from its price of €4.92 on 20 October 2020. The Dutch market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 14% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: €5.34 The company is up 16% from its price of €4.60 on 16 July 2020. The Dutch market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is down 3.0% over the same period.