Aankondiging • Jun 25
Wavestone SA to Report First Half, 2027 Results on Dec 02, 2026 Wavestone SA announced that they will report first half, 2027 results on Dec 02, 2026 Aankondiging • Jun 24
Wavestone SA, Annual General Meeting, Jul 30, 2026 Wavestone SA, Annual General Meeting, Jul 30, 2026. Location: pavillon gabriel, 5 avenue gabriel, paris France Aankondiging • Jun 23
Wavestone SA to Report Fiscal Year 2027 Results on Jun 02, 2027 Wavestone SA announced that they will report fiscal year 2027 results on Jun 02, 2027 Reported Earnings • Jun 07
Full year 2026 earnings released: EPS: €3.34 (vs €3.09 in FY 2025) Full year 2026 results: EPS: €3.34 (up from €3.09 in FY 2025). Revenue: €954.3m (up 1.1% from FY 2025). Net income: €82.0m (up 8.5% from FY 2025). Profit margin: 8.6% (up from 8.0% in FY 2025). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • May 20
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Graciana Petersen was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Jul 24
Upcoming dividend of €0.38 per share Eligible shareholders must have bought the stock before 31 July 2024. Payment date: 02 August 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.6%). Declared Dividend • Jun 24
Dividend of €0.38 announced Shareholders will receive a dividend of €0.38. Ex-date: 31st July 2024 Payment date: 2nd August 2024 Dividend yield will be 0.7%, which is lower than the industry average of 2.1%. Payout Ratios Payout ratio: 14%. Cash payout ratio: 12%. Aankondiging • Jun 20
Wavestone SA, Annual General Meeting, Jul 25, 2024 Wavestone SA, Annual General Meeting, Jul 25, 2024. Location: auditorium l apostrophe, 83 avenue marceau, paris France Reported Earnings • Jun 06
Full year 2024 earnings released: EPS: €2.71 (vs €2.51 in FY 2023) Full year 2024 results: EPS: €2.71 (up from €2.51 in FY 2023). Revenue: €701.1m (up 32% from FY 2023). Net income: €58.2m (up 16% from FY 2023). Profit margin: 8.3% (down from 9.4% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 16% per year. Buy Or Sell Opportunity • Jan 31
Now 21% undervalued Over the last 90 days, the stock has risen 46% to €62.50. The fair value is estimated to be €79.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to grow by 75% in 2 years. Earnings are forecast to grow by 70% in the next 2 years. New Risk • Jan 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Aankondiging • Jan 17
Wavestone SA (ENXTPA:WAVE) acquired Aspirant, LLC. Wavestone SA (ENXTPA:WAVE) acquired Aspirant, LLC on January 16, 2024. IA Global Capital acted as exclusive financial advisor to Wavestone. Grant Thornton LLP acted as a an accountant, Arsène-Cabinet d'Avocats and Dentons Europe (London) Limited acted as a legal advisor to Wavestone SA (ENXTPA:WAVE). Metz Lewis Brodman Must O'Keefe LLC and Oury Clark Solicitors acted as a legal advisor to Aspirant, LLC and Schneider Downs & Co., Inc. acted as an accountant to Aspirant, LLC.
Wavestone SA (ENXTPA:WAVE) completed the acquisition of Aspirant, LLC on January 16, 2024. Reported Earnings • Dec 07
First half 2024 earnings released: EPS: €1.16 (vs €0.90 in 1H 2023) First half 2024 results: EPS: €1.16 (up from €0.90 in 1H 2023). Revenue: €276.7m (up 17% from 1H 2023). Net income: €23.0m (up 28% from 1H 2023). Profit margin: 8.3% (up from 7.6% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 21% per year. Buying Opportunity • Oct 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.7%. The fair value is estimated to be €56.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Aankondiging • Jul 26
Wavestone SA (ENXTPA:WAVE) signed a Memorandum of Understanding to Q_PERIOR AG for approximately €340 million. Wavestone SA (ENXTPA:WAVE) signed a Memorandum of Understanding to Q_PERIOR AG for approximately €340 million on July 25, 2023. The transaction would result in Wavestone acquiring 100% of the share capital of Q_PERIOR, based on an enterprise value of €330 million, including an equity value of €321.9 million and an adjusted net debt of €8.1 million. In addition to this Base price, the sellers would be entitled to an earn-out of up to €35.0 million, conditioned by the EBIT of Q_PERIOR at March 31, 2024. This operation would be financed for 79.0% of the Base price by the issuance of new Wavestone shares on the basis of a reference price of €54 per new share, i.e., a total of 4,709,840 new shares. These new Wavestone shares would be acquired and held by Q_PERIOR shareholders, who would thus become Wavestone shareholders. The remaining balance of the Base price, i.e. €67.6 million, and if applicable the earn-out up to a maximum of €35.0 million, would be financed in cash from Wavestone's available funds. On this basis, earnings per share (EPS) for the new entity would increase by March 31, 2024, and the Transaction is expected to be accretive from fiscal year 2024/25 (ending March 31, 2025), the 1st full year of consolidation of the two firms .Q_PERIOR's key executives would join Wavestone's management team, so that the new firm's operational governance bodies would accurately represent the newly formed entity. Following the Transaction, both companies agreed that the new entity would operate under the Wavestone name. In 2022 , Q_PERIOR generated consolidated revenue of €285 million, up +21%, with an EBIT margin of 8.1% The transaction is to receive approval from Wavestone shareholders' Extraordinary General Meeting. DC Advisory and Bnp Paribas acted s financial advisors to Wavestone SA (ENXTPA:WAVE). Grant Thornton UK LLP acted as accountant to Wavestone SA (ENXTPA:WAVE). Hoche Société d'Avocats and Hoche Société d'Avocats acted as legal advisors to Wavestone SA (ENXTPA:WAVE). Taylor Wessing acted as legal advisor to Q_PERIOR AG and Rothschild & Co US Inc. acted as financial advisor to Q_PERIOR AG. Upcoming Dividend • Jul 26
Upcoming dividend of €0.38 per share at 0.8% yield Eligible shareholders must have bought the stock before 02 August 2023. Payment date: 04 August 2023. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.3%). Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: €2.51 (vs €2.55 in FY 2022) Full year 2023 results: EPS: €2.51 (down from €2.55 in FY 2022). Revenue: €532.3m (up 13% from FY 2022). Net income: €50.1m (down 1.9% from FY 2022). Profit margin: 9.4% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 28% per year. Buying Opportunity • Jan 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.6%. The fair value is estimated to be €52.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 17% in 2 years. Earnings is forecast to grow by 23% in the next 2 years. Reported Earnings • Dec 07
First half 2023 earnings released: EPS: €0.90 (vs €1.03 in 1H 2022) First half 2023 results: EPS: €0.90 (down from €1.03 in 1H 2022). Revenue: €237.1m (up 8.8% from 1H 2022). Net income: €17.9m (down 14% from 1H 2022). Profit margin: 7.6% (down from 9.5% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 21% per year. Buying Opportunity • Nov 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €53.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 5.7% per annum over the same time period. Aankondiging • Sep 17
Wavestone SA (ENXTPA:WAVE) acquired Coeus Consulting International Ltd. Wavestone SA (ENXTPA:WAVE) acquired Coeus Consulting International Ltd on September 15, 2022. Under the terms of transaction, enterprise value of £17.5 million, plus an additional consideration of up to £3.5 million conditioned by Coeus Consulting’s performance over the next 12 months.
Wavestone SA (ENXTPA:WAVE) completed the acquisition of Coeus Consulting International Ltd on September 15, 2022. Aankondiging • Aug 05
Wavestone SA (ENXTPA:WAVE) acquired Pen Partnership Limited for GBP 30 million. Wavestone SA (ENXTPA:WAVE) acquired Pen Partnership Limited for GBP 30 million on August 1, 2022. Wavestone SA signed a conditional acquisition agreement in July 2022. The consideration is GBP 22.5 million and an additional consideration of up to GBP 7.5 million conditioned by PEN Partnership's performance over the next 18 months. The acquisition has been financed by Wavestone own funds. PEN Partnership has successfully grown and scaled the business to reach GBP 19.6 million revenue for its fiscal year ending in March 2022.
Wavestone SA (ENXTPA:WAVE) completed the acquisition of Pen Partnership Limited for GBP 30 million on August 1, 2022. Upcoming Dividend • Jul 27
Upcoming dividend of €0.38 per share Eligible shareholders must have bought the stock before 03 August 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.5%). Reported Earnings • Jun 02
Full year 2022 earnings released: EPS: €2.55 (vs €1.27 in FY 2021) Full year 2022 results: EPS: €2.55 (up from €1.27 in FY 2021). Revenue: €470.1m (up 13% from FY 2021). Net income: €51.0m (up 101% from FY 2021). Profit margin: 11% (up from 6.1% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.8%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 18% share price gain to €46.70, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 27x in the IT industry in Germany. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.55 per share. Buying Opportunity • Mar 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be €52.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.7% per annum over the last 3 years. Earnings per share has grown by 2.8% per annum over the last 3 years. Reported Earnings • Dec 08
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: €1.03 (up from €0.35 in 1H 2021). Revenue: €217.8m (up 17% from 1H 2021). Net income: €20.7m (up 198% from 1H 2021). Profit margin: 9.5% (up from 3.7% in 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.5%, compared to a 10.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jul 26
Upcoming dividend of €0.23 per share Eligible shareholders must have bought the stock before 02 August 2021. Payment date: 05 August 2021. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (0.9%). Reported Earnings • Jul 06
Full year 2021 earnings released: EPS €1.27 (vs €1.57 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: €417.6m (down 1.1% from FY 2020). Net income: €25.4m (down 19% from FY 2020). Profit margin: 6.1% (down from 7.4% in FY 2020). Reported Earnings • Jun 03
Full year 2021 earnings released: EPS €1.27 (vs €1.57 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: €417.6m (down 1.1% from FY 2020). Net income: €25.4m (down 19% from FY 2020). Profit margin: 6.1% (down from 7.4% in FY 2020). Aankondiging • May 12
Wavestone SA (ENXTPA:WAVE) acquired all assets of Everest Group’s Consulting practice from Everest Group. Wavestone SA (ENXTPA:WAVE) acquired all assets of Everest Group’s Consulting practice from Everest Group for $15.2 million on May 1, 2021. The purchase price is $10.1 million (€8.3 million) in enterprise value, plus an additional consideration of up to $5.1 million (€4.2 million) conditioned by the practice’s performance in 2021/22. he consideration was paid in cash and was financed out of Wavestone’s own funds. Innovation Advisors, Inc. acted as financial advisor, Dentons US LLP acted as legal advisor and Grant Thornton LLP acted as accountant to Wavestone in the transaction.
Wavestone SA (ENXTPA:WAVE) completed the acquisition of all assets of Everest Group’s Consulting practice from Everest Group on May 1, 2021. Is New 90 Day High Low • Mar 05
New 90-day high: €34.55 The company is up 27% from its price of €27.25 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €26.79 per share. Is New 90 Day High Low • Feb 04
New 90-day high: €32.05 The company is up 34% from its price of €23.85 on 05 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.84 per share. Is New 90 Day High Low • Jan 05
New 90-day high: €29.50 The company is up 19% from its price of €24.70 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.62 per share. Reported Earnings • Dec 14
First half 2021 earnings released: EPS €0.35 The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: €186.8m (down 3.9% from 1H 2020). Net income: €6.95m (down 25% from 1H 2020). Profit margin: 3.7% (down from 4.8% in 1H 2020). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Dec 05
New 90-day high: €27.25 The company is up 24% from its price of €21.90 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €19.35 per share. Reported Earnings • Dec 04
First half 2021 earnings released: EPS €0.35 The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: €186.8m (down 3.9% from 1H 2020). Net income: €6.95m (down 25% from 1H 2020). Profit margin: 3.7% (down from 4.8% in 1H 2020). The decrease in margin was driven by lower revenue. Aankondiging • Dec 04
Wavestone SA to Report Fiscal Year 2021 Results on Jun 01, 2021 Wavestone SA announced that they will report fiscal year 2021 results on Jun 01, 2021 Aankondiging • Nov 20
Wavestone SA, Annual General Meeting, Jul 27, 2021 Wavestone SA, Annual General Meeting, Jul 27, 2021. Is New 90 Day High Low • Sep 28
New 90-day high: €25.95 The company is up 34% from its price of €19.32 on 30 June 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.39 per share. 
