Declared Dividend • Mar 27
Dividend reduced to RON0.30 Dividend of RON0.30 is 79% lower than last year. Ex-date: 28th May 2026 Payment date: 18th June 2026 Dividend yield will be 1.5%, which is lower than the industry average of 7.4%. Sustainability & Growth The dividend has increased by an average of 8.0% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 210% to bring the payout ratio under control. However, EPS has declined by 62% over the last year so the company would need to reverse this trend. Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: RON0.79 (vs RON2.09 in FY 2024) Full year 2025 results: EPS: RON0.79 (down from RON2.09 in FY 2024). Revenue: RON106.3m (down 24% from FY 2024). Net income: RON3.33m (down 62% from FY 2024). Profit margin: 3.1% (down from 6.3% in FY 2024). The decrease in margin was driven by lower revenue. New Risk • Mar 03
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.9x 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 (1.9x net interest cover). Revenue has declined by 24% over the past year. Minor Risks Profit margins are more than 30% lower than last year (3.1% net profit margin). Market cap is less than US$100m (RON83.6m market cap, or US$19.0m). Buy Or Sell Opportunity • Sep 03
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.5% to RON20.70. The fair value is estimated to be RON17.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 36%. Buy Or Sell Opportunity • Aug 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.2% to RON20.70. The fair value is estimated to be RON17.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 36%. Buy Or Sell Opportunity • Jul 24
Now 20% overvalued Over the last 90 days, the stock has fallen 5.7% to RON21.50. The fair value is estimated to be RON17.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 36%. 공지 • Jul 08
Arctic Stream Appoints Florin Marginean as CEO, Effective from July 7 Arctic Stream has appointed Florin Marginean as its new CEO starting July 7. Mr. Florin Marginean is a professional with over 25 years of experience in the IT and telecommunications industry, gained at international companies such as Hewlett Packard Enterprise, Microsoft, VMware, and Fortinet. New Risk • May 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 109% Dividend yield: 7.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. 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 Risk Revenue has declined by 0.1% over the past year. Minor Risks Dividend is not well covered by cash flows (109% cash payout ratio). Profit margins are more than 30% lower than last year (4.6% net profit margin). Market cap is less than US$100m (RON85.5m market cap, or US$19.2m). 공지 • May 28
Arctic Stream S.A. (BVB : AST) signed a share purchase agreement to acquire 50.20% stake in IT Prepared SRL from Bittnet Systems SA (BVB:BNET) for RON 6.12 million. Arctic Stream S.A. (BVB : AST) signed a share purchase agreement to acquire 50.20% stake in IT Prepared SRL from Bittnet Systems SA (BVB:BNET) for RON 6.12 million on May 27, 2025. IT Prepared SRL will be rebranded as Optimizor. The transaction price of RON 6.12 million will be paid within 5 business days from the signing of the share purchase agreement.
The expected completion of the transaction is within 5 working days from the signing of the share sale-purchase agreement. Upcoming Dividend • May 21
Upcoming dividend of RON1.40 per share Eligible shareholders must have bought the stock before 28 May 2025. Payment date: 11 June 2025. Trailing yield: 6.3%. Lower than top quartile of Romanian dividend payers (6.7%). Higher than average of industry peers (3.2%). Buy Or Sell Opportunity • May 21
Now 22% overvalued Over the last 90 days, the stock has fallen 8.6% to RON19.20. The fair value is estimated to be RON15.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • May 20
First quarter 2025 earnings released First quarter 2025 results: Revenue: RON15.2m (down 49% from 1Q 2024). Net loss: RON1.08m (down 154% from profit in 1Q 2024). Buy Or Sell Opportunity • Apr 08
Now 25% overvalued Over the last 90 days, the stock has fallen 12% to RON20.60. The fair value is estimated to be RON16.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Declared Dividend • Mar 26
Dividend increased to RON1.40 Dividend of RON1.40 is 17% higher than last year. Ex-date: 28th May 2025 Payment date: 11th June 2025 Dividend yield will be 6.7%, which is lower than the industry average of 7.4%. Sustainability & Growth The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. 공지 • Mar 25
Arctic Stream S.A. announces Annual dividend, payable on June 11, 2025 Arctic Stream S.A. announced Annual dividend of RON 1.4000 per share payable on June 11, 2025, ex-date on May 28, 2025 and record date on May 29, 2025. 공지 • Mar 24
Arctic Stream S.A., Annual General Meeting, Apr 24, 2025 Arctic Stream S.A., Annual General Meeting, Apr 24, 2025, at 16:00 E. Europe Standard Time. Location: at the companys headquarters in bucharest, sector, 1, park avenue business center, located at 93-95 emanoil, porumbaru street, 1st floor, Romania Buy Or Sell Opportunity • Jan 30
Now 20% overvalued Over the last 90 days, the stock has fallen 11% to RON22.00. The fair value is estimated to be RON18.32, however this is not to be taken as a sell recommendation but rather should be used as a guide only. New Risk • Jan 09
New major risk - Revenue and earnings growth Revenue has declined by 2.5% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Risk Revenue has declined by 2.5% over the past year. Minor Risk Market cap is less than US$100m (RON99.1m market cap, or US$20.5m). Buy Or Sell Opportunity • Dec 04
Now 26% overvalued Over the last 90 days, the stock has fallen 8.0% to RON23.00. The fair value is estimated to be RON18.19, however this is not to be taken as a sell recommendation but rather should be used as a guide only.