New Risk • Aug 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 17% per year over the past 5 years. High level of non-cash earnings (28% accrual ratio). Market cap is less than US$10m (zł22.2m market cap, or US$5.83m). Reported Earnings • Aug 19
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł6.14m (up 65% from 2Q 2023). Net income: zł663.0k (up zł1.24m from 2Q 2023). Profit margin: 11% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. New Risk • Jun 15
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 30% per year over the past 5 years. High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (zł29.0m market cap, or US$7.08m). 공고 • Jun 05
G-Energy S.A., Annual General Meeting, Jun 28, 2024 G-Energy S.A., Annual General Meeting, Jun 28, 2024. New Risk • Jun 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). Earnings have declined by 30% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Market cap is less than US$10m (zł25.1m market cap, or US$6.40m). New Risk • May 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 30% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Market cap is less than US$10m (zł29.0m market cap, or US$7.36m). Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). 공고 • Apr 28
G-Energy S.A., Annual General Meeting, May 23, 2024 G-Energy S.A., Annual General Meeting, May 23, 2024, at 12:00 Central European Standard Time. New Risk • Apr 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings have declined by 35% per year over the past 5 years. Market cap is less than US$10m (zł30.3m market cap, or US$7.64m). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). New Risk • Mar 27
New major risk - Revenue and earnings growth Earnings have declined by 33% 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 33% per year over the past 5 years. High level of non-cash earnings (23% accrual ratio). Market cap is less than US$10m (zł31.3m market cap, or US$7.85m). 공고 • May 31
G-Energy S.A., Annual General Meeting, Jun 26, 2023 G-Energy S.A., Annual General Meeting, Jun 26, 2023, at 12:00 Central European Standard Time. Reported Earnings • May 20
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł5.27m (down 47% from 1Q 2021). Net income: zł266.7k (down 41% from 1Q 2021). Profit margin: 5.1% (up from 4.5% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 05
New 90-day high: zł0.71 The company is up 3.0% from its price of zł0.69 on 07 October 2020. The Polish market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 28% over the same period. Is New 90 Day High Low • Oct 13
New 90-day low: zł0.63 The company is down 19% from its price of zł0.78 on 15 July 2020. The Polish market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 11% over the same period.