Declared Dividend • May 31
Dividend of €0.12 announced Shareholders will receive a dividend of €0.12. Ex-date: 10th June 2026 Payment date: 20th July 2026 Dividend yield will be 4.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (81% earnings payout ratio) but not covered by cash flows (351% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 9.6% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.0% EPS decline seen over the last 5 years. New Risk • Apr 11
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 17% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (€50.6m market cap, or US$59.3m). Reported Earnings • Oct 27
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: лв20.3m (up 18% from 3Q 2024). Net income: лв1.18m (up 73% from 3Q 2024). Profit margin: 5.8% (up from 4.0% in 3Q 2024). The increase in margin was driven by higher revenue. Reported Earnings • Jul 25
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: лв22.0m (up 20% from 2Q 2024). Net income: лв1.26m (up 97% from 2Q 2024). Profit margin: 5.7% (up from 3.5% in 2Q 2024). The increase in margin was driven by higher revenue. 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. 3 experienced directors. No highly experienced directors. No independent directors (3 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. Declared Dividend • Jun 01
Dividend of лв0.21 announced Dividend of лв0.21 is the same as last year. Ex-date: 11th June 2025 Payment date: 22nd July 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (106% earnings payout ratio) nor is it covered by cash flows (185% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 18% to bring the payout ratio under control. However, EPS has declined by 3.5% over the last 5 years so the company would need to reverse this trend. Aankondiging • Mar 31
Hydraulic Elements and Systems AD, Annual General Meeting, May 29, 2025 Hydraulic Elements and Systems AD, Annual General Meeting, May 29, 2025, at 13:30 FLE Standard Time. Location: in the town of yambol at 1 pirin st., Bulgaria Reported Earnings • Oct 29
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: лв17.3m (down 4.9% from 3Q 2023). Net income: лв683.0k (up 317% from 3Q 2023). Profit margin: 4.0% (up from 0.9% in 3Q 2023). The increase in margin was driven by lower expenses. Reported Earnings • Jul 29
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: лв18.4m (down 23% from 2Q 2023). Net income: лв641.0k (down 58% from 2Q 2023). Profit margin: 3.5% (down from 6.4% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 28
First quarter 2024 earnings released First quarter 2024 results: Revenue: лв20.9m (down 21% from 1Q 2023). Net income: лв1.72m (down 9.1% from 1Q 2023). Profit margin: 8.2% (up from 7.2% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: лв0.23 (vs лв0.53 in FY 2022) Full year 2023 results: EPS: лв0.23 (down from лв0.53 in FY 2022). Revenue: лв86.1m (down 9.7% from FY 2022). Net income: лв4.16m (down 57% from FY 2022). Profit margin: 4.8% (down from 10% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. New Risk • Jul 31
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: 6.9% Last year net profit margin: 10% 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: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 14x cash flows per share). Profit margins are more than 30% lower than last year (6.9% net profit margin). Market cap is less than US$100m (лв115.5m market cap, or US$65.2m). Reported Earnings • Jul 31
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: лв24.2m (down 4.1% from 2Q 2022). Net income: лв1.53m (down 58% from 2Q 2022). Profit margin: 6.3% (down from 14% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year. Upcoming Dividend • Jun 05
Upcoming dividend of лв0.33 per share at 4.8% yield Eligible shareholders must have bought the stock before 12 June 2023. Payment date: 20 July 2023. Payout ratio is a comfortable 69% but the company is not cash flow positive. Trailing yield: 4.8%. Lower than top quartile of Bulgarian dividend payers (6.2%). Higher than average of industry peers (2.6%). Board Change • Apr 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. 3 experienced directors. No highly experienced directors. No independent directors (3 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 • Jan 28
Full year 2022 earnings released Full year 2022 results: EPS: лв0.53. Revenue: лв97.6m (up 38% from FY 2021). Net income: лв9.59m (up 28% from FY 2021). Profit margin: 9.8% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Board Change • Jan 04
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. 3 experienced directors. No highly experienced directors. No independent directors (3 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. 3 experienced directors. No highly experienced directors. No independent directors (3 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 • Oct 27
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: лв25.9m (up 49% from 3Q 2021). Net income: лв2.16m (up 58% from 3Q 2021). Profit margin: 8.3% (up from 7.8% in 3Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Jul 25
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: лв26.1m (up 52% from 2Q 2021). Net income: лв3.64m (up 18% from 2Q 2021). Profit margin: 14% (down from 18% in 2Q 2021). The decrease in margin was driven by higher expenses. Aankondiging • Jul 22
Hydraulic Elements and Systems AD Provides Sales Guidance for Month and Year to Date of July 2022 Hydraulic Elements and Systems AD provided sales guidance for month and year to date of July 2022. For the month, the company expects sales of BGN 9,200,000. For the year to date, the company expects sales of BGN 58,027,000. Board Change • Apr 27
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. 3 experienced directors. No highly experienced directors. No independent directors (3 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 • Apr 23
First quarter 2022 earnings released First quarter 2022 results: Revenue: лв24.1m (up 47% from 1Q 2021). Net income: лв2.73m (up 48% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Aankondiging • Feb 24
Hydraulic Elements & Systems Plc Provides Sales Guidance for the Month and Year to Date Ended February 2022 Hydraulic Elements & Systems Plc provided sales guidance for the month and year to date ended February 2022. The company expects sales for the month of February 2022 will reach BGN 7.600 million. The company expects sales for the year to date ended February 2022 will reach BGN 15.088 million. Reported Earnings • Jan 30
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: лв0.41 (up from лв0.33 in FY 2020). Revenue: лв72.7m (up 43% from FY 2020). Net income: лв7.52m (up 24% from FY 2020). Profit margin: 10% (down from 12% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 03
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: лв19.0m (up 93% from 3Q 2020). Net income: лв1.36m (up 30% from 3Q 2020). Profit margin: 7.2% (down from 11% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year and the company’s share price has also increased by 12% per year. Reported Earnings • Jul 26
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: лв18.8m (up 70% from 2Q 2020). Net income: лв3.08m (up 364% from 2Q 2020). Profit margin: 16% (up from 6.0% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Jul 24
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: лв18.8m (up 70% from 2Q 2020). Net income: лв3.08m (up 364% from 2Q 2020). Profit margin: 16% (up from 6.0% in 2Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • May 19
Upcoming dividend of лв0.26 per share Eligible shareholders must have bought the stock before 26 May 2021. Payment date: 07 July 2021. Trailing yield: 4.6%. Lower than top quartile of Bulgarian dividend payers (5.5%). Higher than average of industry peers (1.8%). Reported Earnings • Apr 26
First quarter 2021 earnings released The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: лв16.5m (up 1.5% from 1Q 2020). Net income: лв1.84m (up 5.2% from 1Q 2020). Profit margin: 11% (in line with 1Q 2020). Is New 90 Day High Low • Jan 26
New 90-day high: лв4.56 The company is up 21% from its price of лв3.78 on 28 October 2020. The Bulgarian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: лв3.92 The company is up 8.0% from its price of лв3.62 on 08 October 2020. The Bulgarian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 11% over the same period. Is New 90 Day High Low • Oct 20
New 90-day high: лв3.84 The company is up 4.0% from its price of лв3.70 on 16 July 2020. The Bulgarian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is down 1.0% over the same period. 