Valuation Update With 7 Day Price Move • May 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to RON1.40, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 28x in the Consumer Retailing industry in Romania. Total loss to shareholders of 11% over the past year. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to RON1.55, the stock trades at a trailing P/E ratio of 25.9x. Average trailing P/E is 25x in the Consumer Retailing industry in Romania. Total returns to shareholders of 1.3% over the past year. New Risk • Apr 30
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 Romanian stocks, typically moving 12% 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 (12% average weekly change). 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. Revenue is less than US$1m (RON1.0k revenue, or US$229). Market cap is less than US$10m (RON15.5m market cap, or US$3.56m). Minor Risk Large one-off items impacting financial results. New Risk • Apr 07
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 6.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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. Revenue is less than US$1m (RON1.0k revenue, or US$227). Market cap is less than US$10m (RON15.4m market cap, or US$3.49m). Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Large one-off items impacting financial results. New Risk • Apr 03
New major risk - Revenue and earnings growth Earnings have declined by 20% 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 Earnings have declined by 20% per year over the past 5 years. Revenue is less than US$1m (RON1.0k revenue, or US$227). Market cap is less than US$10m (RON14.6m market cap, or US$3.30m). 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. Share price has been volatile over the past 3 months (9.1% average weekly change). Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to RON1.10, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 21x in the Consumer Retailing industry in Romania. Total loss to shareholders of 29% over the past year. 공시 • Mar 21
Germina Agribusiness S.A., Annual General Meeting, Apr 22, 2026 Germina Agribusiness S.A., Annual General Meeting, Apr 22, 2026. New Risk • Mar 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: Major Risks Earnings have declined by 20% per year over the past 5 years. Revenue is less than US$1m (RON1.0k revenue, or US$224). Market cap is less than US$10m (RON20.0m market cap, or US$4.48m). 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. Board Change • Jan 09
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Topor Daniela was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 08
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 24% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). 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. Earnings have declined by 4.5% per year over the past 5 years. Revenue is less than US$1m (RON1.3m revenue, or US$300k). Market cap is less than US$10m (RON21.1m market cap, or US$4.76m). Upcoming Dividend • May 07
Upcoming dividend of RON0.07 per share Eligible shareholders must have bought the stock before 14 May 2025. Payment date: 02 June 2025. Trailing yield: 28%. Within top quartile of Romanian dividend payers (7.0%). Higher than average of industry peers (3.7%). Declared Dividend • Mar 21
Dividend reduced to RON0.07 Dividend of RON0.07 is 82% lower than last year. Ex-date: 14th May 2025 Payment date: 2nd June 2025 Dividend yield will be 4.1%, which is higher than the industry average of 1.8%. Sustainability & Growth The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. New Risk • Mar 14
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 Risks Revenue is less than US$1m (RON6.8k revenue, or US$1.5k). Market cap is less than US$10m (RON23.0m market cap, or US$5.03m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Board Change • Mar 13
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Elena-Liliana Iancu was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 141% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Dividend is not well covered by earnings and cash flows. Dividend per share is over 9x earnings per share. Paying a dividend despite having no free cash flows. Revenue is less than US$1m (RON171k revenue, or US$37k). Market cap is less than US$10m (RON25.8m market cap, or US$5.56m). Minor Risk Large one-off items impacting financial results. Upcoming Dividend • May 09
Upcoming dividend of RON0.38 per share Eligible shareholders must have bought the stock before 16 May 2024. Payment date: 03 June 2024. Trailing yield: 29%. Within top quartile of Romanian dividend payers (6.7%). Higher than average of industry peers (4.2%). Board Change • Mar 18
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. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). Chief Executive Officer and Director Iuliana Cernat was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.