Declared Dividend • May 31
Dividend of €0.50 announced Dividend of €0.50 is the same as last year. Ex-date: 6th July 2026 Payment date: 8th July 2026 Dividend yield will be 3.0%, which is higher than the industry average of 1.5%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 20% per year over the past 5 years and payments have been stable during that time. Earnings per share has grown by 7.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Board Change • May 21
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Claudie Naar was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • May 20
IT Link SA, Annual General Meeting, Jun 25, 2026 IT Link SA, Annual General Meeting, Jun 25, 2026. Location: 67 avenue de fontainebleau, le kremlin bicetre France Board Change • Dec 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Claudie Naar was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Nov 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. 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: Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (€44.5m market cap, or US$47.3m). New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (€42.3m market cap, or US$46.4m). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €28.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 22x in the Software industry in Germany. Total returns to shareholders of 51% over the past three years. Aankondiging • May 17
IT Link SA, Annual General Meeting, Jun 27, 2024 IT Link SA, Annual General Meeting, Jun 27, 2024. Reported Earnings • Apr 29
Full year 2023 earnings released: EPS: €2.02 (vs €1.82 in FY 2022) Full year 2023 results: EPS: €2.02 (up from €1.82 in FY 2022). Revenue: €74.4m (up 16% from FY 2022). Net income: €3.42m (up 11% from FY 2022). Profit margin: 4.6% (down from 4.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Software 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 increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €30.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 19x in the Software industry in Germany. Total returns to shareholders of 94% over the past three years. Buy Or Sell Opportunity • Mar 29
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 7.0% to €30.60. The fair value is estimated to be €24.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. New Risk • Feb 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€49.8m market cap, or US$53.6m). Buy Or Sell Opportunity • Feb 08
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 7.9% to €30.00. The fair value is estimated to be €24.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. Aankondiging • Jan 11
IT Link SA (ENXTPA:ALITL) acquired Ciao Technologies inc. IT Link SA (ENXTPA:ALITL) acquired Ciao Technologies inc. on January 9, 2024. This acquisition allows the IT Link Group to strengthen its presence in North America with just over 100 employees in Canada, making it the Group's second largest geography. This acquisition does not result in any change in the management and organization of Ciao Technologies, Jean DROUIN, current president and founder, retaining his role as director of the company. The price of this acquisition, paid in cash, was financed entirely from the company's own funds. The integration of Ciao Technologies into the consolidated scope of the IT Link Group is effective on January 9, 2024.IT Link SA (ENXTPA:ALITL) completed the acquisition of Ciao Technologies inc. on January 9, 2024. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €29.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 27x in the Software industry in Germany. Total returns to shareholders of 146% over the past three years. Upcoming Dividend • Jun 28
Upcoming dividend of €0.30 per share at 1.1% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 07 July 2023. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (1.6%). Aankondiging • Nov 29
IT Link Enters Exclusive Talks to Buy Rades IT LINK SA enters into exclusive negotiations with RADÈS with a view to acquiring 100% of the capital. With a team of 40 consultants, Radès achieved a turnover of EUR 4.1 million in 2021. Transaction could be finalized by the end of 2022 after signing a definitive agreement. Price of this acquisition, paid in cash, would be partially financed by a bank loan. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 2 independent directors (5 non-independent directors). Independent Director Denis Guyot was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Jun 29
Upcoming dividend of €0.25 per share Eligible shareholders must have bought the stock before 06 July 2022. Payment date: 08 July 2022. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (2.1%). Reported Earnings • May 01
Full year 2021 earnings released: EPS: €1.76 (vs €1.12 in FY 2020) Full year 2021 results: EPS: €1.76 (up from €1.12 in FY 2020). Revenue: €59.8m (up 22% from FY 2020). Net income: €2.99m (up 63% from FY 2020). Profit margin: 5.0% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.1%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. 3 independent directors (5 non-independent directors). Independent Director Catherine Lelouch-Kammoun was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 15% share price gain to €27.30, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 29x in the Software industry in Germany. Total returns to shareholders of 203% over the past three years. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 20% share price gain to €31.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 34x in the Software industry in Germany. Total returns to shareholders of 357% over the past three years. Reported Earnings • Sep 26
First half 2021 earnings released: EPS €1.05 (vs €0.25 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €29.6m (up 23% from 1H 2020). Net income: €1.72m (up 313% from 1H 2020). Profit margin: 5.8% (up from 1.7% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improved over the past week After last week's 17% share price gain to €28.10, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 34x in the Software industry in Germany. Total returns to shareholders of 257% over the past three years. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 18% share price gain to €22.90, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 34x in the Software industry in Germany. Total returns to shareholders of 203% over the past three years. Upcoming Dividend • Jul 01
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 07 July 2021. Payment date: 09 July 2021. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (1.5%). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improved over the past week After last week's 15% share price gain to €19.50, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 33x in the Software industry in Germany. Total returns to shareholders of 112% over the past three years. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 15% share price gain to €18.00, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 31x in the Software industry in Germany. Total returns to shareholders of 76% over the past three years. Is New 90 Day High Low • Jan 13
New 90-day high: €12.80 The company is up 25% from its price of €10.25 on 15 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 Software industry, which is down 18% over the same period. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 15% share price gain to €10.85, the stock is trading at a trailing P/E ratio of 10.7x, up from the previous P/E ratio of 9.3x. This compares to an average P/E of 28x in the Software industry in Germany. Total return to shareholders over the past three years is a loss of 33%. Is New 90 Day High Low • Nov 05
New 90-day low: €9.06 The company is down 28% from its price of €12.60 on 06 August 2020. The German market is down 3.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Software industry, which is also down 28% over the same period. Is New 90 Day High Low • Oct 16
New 90-day low: €10.25 The company is down 5.0% from its price of €10.80 on 17 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is down 3.0% over the same period. 
