Reported Earnings • Aug 09
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €5.55m (down 92% from 3Q 2023). Net income: €1.96m (up 206% from 3Q 2023). Profit margin: 35% (up from 0.9% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Jun 19
Second quarter 2024 earnings released: €0.041 loss per share (vs €0.78 profit in 2Q 2023) Second quarter 2024 results: €0.041 loss per share (down from €0.78 profit in 2Q 2023). Revenue: €6.58m (down 94% from 2Q 2023). Net loss: €926.8k (down 104% from profit in 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €4.17, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Consumer Durables industry in Europe. Total loss to shareholders of 17% over the past year. Reported Earnings • Jun 14
Second quarter 2024 earnings released: €0.021 loss per share (vs €0.78 profit in 2Q 2023) Second quarter 2024 results: €0.021 loss per share (down from €0.78 profit in 2Q 2023). Revenue: €6.58m (down 94% from 2Q 2023). Net loss: €926.8k (down 104% from profit in 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Feb 14
First quarter 2024 earnings released: EPS: €0.076 (vs €0.04 in 1Q 2023) First quarter 2024 results: EPS: €0.076 (up from €0.04 in 1Q 2023). Revenue: €6.64m (down 78% from 1Q 2023). Net income: €2.01m (up 95% from 1Q 2023). Profit margin: 30% (up from 3.4% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 8.3% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in Germany are expected to grow by 5.6%. Board Change • Jan 01
Insufficient new 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. 6 highly experienced directors. Independent Director Nicla Picchi was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Dec 15
Full year 2023 earnings released: EPS: €0.92 (vs €0.30 in FY 2022) Full year 2023 results: EPS: €0.92 (up from €0.30 in FY 2022). Revenue: €252.4m (up €226.9m from FY 2022). Net income: €24.3m (up 208% from FY 2022). Profit margin: 9.6% (down from 31% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.1% p.a. on average during the next 2 years, while revenues in the Consumer Durables industry in Germany are expected to grow by 5.5%. New Risk • Aug 09
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: 12% Last year net profit margin: 31% 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 High level of debt (55% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Profit margins are more than 30% lower than last year (12% net profit margin). Reported Earnings • Aug 09
Third quarter 2023 earnings released: EPS: €0.024 (vs €0.14 in 3Q 2022) Third quarter 2023 results: EPS: €0.024 (down from €0.14 in 3Q 2022). Revenue: €70.4m (up €68.5m from 3Q 2022). Net income: €640.7k (down 79% from 3Q 2022). Profit margin: 0.9% (down from 161% in 3Q 2022). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Consumer Durables industry in Germany. Aankondiging • Jul 26
Abitare In S.p.A. (BIT:ABT) commences an Equity Buyback Plan for 5,320,156 shares, representing 20% of its issued share capital, under the authorization approved on July 14, 2023. Abitare In S.p.A. (BIT:ABT) commences share repurchases on July 20, 2023, under the program mandated by the Annual General Meeting held on July 14, 2023. As per the mandate, the company is authorized to repurchase up to 5,320,156 shares, representing 20% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 20% of its issued share capital at any point of time. The shares will be purchased at a price per share that may not deviate by more than 20% from the reference price recorded by the stock in the trading session preceding each individual transaction, either by decrease or by increase - to a consideration that is not higher than the higher of the price of the last independent transaction and the price of the highest current independent purchase offer present on the trading venue where the purchase is made. The program is valid for 18 months. As of June 14, 2023, the company had 26,600,780 ordinary shares and no shares in treasury.
On July 19, 2023, the company announced a share repurchase program. Under the program, the company will repurchase €20 million worth of shares. The repurchased shares will be allocated to service any future incentive plans for the purpose to incentivize and retain employees, collaborators, directors of the Company, subsidiaries and/or other categories of subjects chosen at the discretion of the Board operations such as the sale and/or exchange of treasury shares for the acquisition of direct or indirect shareholdings and/or real estate and/or the conclusion of agreements with strategic partners and/or for the implementation of industrial projects or extraordinary finance operations, which fall within the expansion objectives of the Company and the group. New Risk • Jul 21
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 6.9% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. 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: Minor Risks High level of debt (63% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Reported Earnings • Jun 17
Second quarter 2023 earnings released: EPS: €0.78 (vs €0.19 loss in 2Q 2022) Second quarter 2023 results: EPS: €0.78 (up from €0.19 loss in 2Q 2022). Revenue: €113.2m (up €104.7m from 2Q 2022). Net income: €21.2m (up €26.3m from 2Q 2022). Profit margin: 19% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Consumer Durables industry in Germany. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. Independent Director Giuseppe Vegas was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: €0.30 (vs €0.47 in FY 2021) Full year 2022 results: EPS: €0.30 (down from €0.47 in FY 2021). Revenue: €25.5m (down 53% from FY 2021). Net income: €7.89m (down 35% from FY 2021). Profit margin: 31% (up from 22% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Dec 15
Full year 2022 earnings released: EPS: €0.30 (vs €0.47 in FY 2021) Full year 2022 results: EPS: €0.30 (down from €0.47 in FY 2021). Revenue: €25.5m (down 53% from FY 2021). Net income: €7.89m (down 35% from FY 2021). Profit margin: 31% (up from 22% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 69% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Consumer Durables industry in Germany. Aankondiging • Sep 24
Supernova S.R.L. signed a preliminary agreement to acquire Development Operation Of Via Cadolini from Abitare In S.p.A. (BIT:ABT) for €72 million. Supernova S.R.L. signed a preliminary agreement to acquire Development Operation Of Via Cadolini from Abitare In S.p.A. (BIT:ABT) for €72 million on September 22, 2022. With the signing of the preliminary agreement, the buyer paid the amount of €11 million as a deposit. The transaction is currently financed by a debt of € 10 million, consisting of a bank loan used for activities carried out on the area. The signing of the final sale agreement is expected to take place at the turn of the third and fourth quarter of 2023, following the certification of successful reclamation. Dils acted as advisor to Abitare In S.p.A. Studio ADVANT Nctm, with a team led by Attorneys Luigi Croce and Rosemarie Serrato, and Lawyer Marco Starace assisted Abitare In and Studio Belvedere Inzaghi & Partners, with Attorneys Guido Inzaghi and Ivana Magistrelli assisted Supernova. Reported Earnings • Aug 10
Third quarter 2022 earnings released: EPS: €0.14 (vs €0.17 in 3Q 2021) Third quarter 2022 results: EPS: €0.14 (down from €0.17 in 3Q 2021). Revenue: €6.15m (down 62% from 3Q 2021). Net income: €2.99m (down 30% from 3Q 2021). Profit margin: 49% (up from 27% in 3Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 418%, compared to a 3.0% growth forecast for the industry in Germany. Reported Earnings • Jun 15
Second quarter 2022 earnings released Second quarter 2022 results: €0.21 loss per share. Revenue: €8.52m (flat on 2Q 2021). Net loss: €5.04m (flat on 2Q 2021). Over the next year, revenue is forecast to grow 275%, compared to a 5.3% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €6.18, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Consumer Durables industry in Germany. Recent Insider Transactions • Feb 23
CEO & Director recently bought €72k worth of stock On the 21st of February, Marco Grillo bought around 11k shares on-market at roughly €6.58 per share. In the last 3 months, there was an even bigger purchase from another insider worth €121k. This was Marco's only on-market trade for the last 12 months. Reported Earnings • Feb 18
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: €0.30 (up from €0.11 in 1Q 2021). Revenue: €9.26m (down 57% from 1Q 2021). Net income: €7.80m (up 164% from 1Q 2021). Profit margin: 84% (up from 14% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 303%, compared to a 7.3% growth forecast for the industry in Germany. Reported Earnings • Jan 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €0.47 (up from €0.35 in FY 2020). Revenue: €54.5m (up 24% from FY 2020). Net income: €12.2m (up 33% from FY 2020). Profit margin: 22% (up from 21% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 226%, compared to a 4.0% growth forecast for the industry in Germany. 
