Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to د.ت2.35, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 24x in the Tech industry globally. Total loss to shareholders of 43% over the past three years. New Risk • Sep 14
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: 1.7% Last year net profit margin: 2.4% 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 Risks Interest payments are not well covered by earnings (0.9x net interest cover). Market cap is less than US$10m (د.ت8.88m market cap, or US$3.06m). Minor Risks Share price has been volatile over the past 3 months (4.6% average weekly change). Profit margins are more than 30% lower than last year (1.7% net profit margin). 공지 • Jul 02
Cellcom Société Anonyme, Annual General Meeting, Jun 30, 2025 Cellcom Société Anonyme, Annual General Meeting, Jun 30, 2025, at 15:00 W. Central Africa Standard Time. Location: berges du lac, tunis Tunisia Board Change • Jul 01
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 22
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 03
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Dec 06
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Buy Or Sell Opportunity • Sep 05
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 5.1% to د.ت2.08. The fair value is estimated to be د.ت1.63, 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 3 years. Meanwhile, the company has become profitable. New Risk • Jun 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 119% 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 Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$10m (د.ت8.08m market cap, or US$2.58m). Minor Risk Large one-off items impacting financial results. 공지 • Jun 20
Cellcom Société Anonyme, Annual General Meeting, Jun 19, 2024 Cellcom Société Anonyme, Annual General Meeting, Jun 19, 2024, at 11:00 W. Central Africa Standard Time. Location: berges du lac, tunis Tunisia Reported Earnings • Jun 14
Full year 2023 earnings released Full year 2023 results: Revenue: د.ت62.5m (flat on FY 2022). Net income: د.ت218.4k (up د.ت3.55m from FY 2022). Profit margin: 0.3% (up from net loss in FY 2022). New Risk • May 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.8% average weekly change). Revenue has declined by 6.1% over the past year. Market cap is less than US$10m (د.ت8.39m market cap, or US$2.70m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Board Change • Feb 13
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Dec 31
New major risk - Revenue and earnings growth Revenue has declined by 6.1% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Revenue has declined by 6.1% over the past year. Market cap is less than US$10m (د.ت7.09m market cap, or US$2.31m). Board Change • Oct 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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Aug 17
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 17
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 19
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 16
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Oct 03
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jul 07
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Jun 18
Full year 2021 earnings released Full year 2021 results: Revenue: د.ت66.5m (up 18% from FY 2020). Net income: د.ت10.1k (down 99% from FY 2020). Profit margin: 0% (down from 1.4% in FY 2020). The decrease in margin was driven by higher expenses. Board Change • Apr 28
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Sep 21
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. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Is New 90 Day High Low • Dec 28
New 90-day low: د.ت4.66 The company is down 12% from its price of د.ت5.30 on 29 September 2020. The Tunisian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: د.ت4.82 The company is down 4.0% from its price of د.ت5.00 on 11 September 2020. The Tunisian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 12% over the same period. Is New 90 Day High Low • Nov 06
New 90-day high: د.ت5.47 The company is up 10.0% from its price of د.ت4.98 on 07 August 2020. The Tunisian market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 09
New 90-day high: د.ت5.41 The company is up 6.0% from its price of د.ت5.09 on 10 July 2020. The Tunisian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Tech industry, which is up 16% over the same period.