New Risk • Jun 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €87.4m (US$99.4m) This is considered a minor risk. Companies with a small market capitalization 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 Interest payments are not well covered by earnings (0.8x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 6x earnings per share. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (€87.4m market cap, or US$99.4m). Aankondiging • Jun 10
clearvise AG Starts Construction of the Tezze Solar Project in Italy clearvise AG started construction work as scheduled at the Tezze project site in the northern Italian province of Vicenza. The Tezze PV project originates from a cooperation within the clearPARTNERS program and has a secured revenue basis: the plant, with an installed capacity of around 4.1 MWp, has been awarded a government tariff premium for a term of 20 years. The building permit was granted in the shortest possible time and has been legally binding since the beginning of November 2025. The solar park is being built on the site of a former quarry and is to be fully constructed in the course of 2026. Construction work is progressing according to plan. Immediately after the handover of the site, extensive earthworks were carried out to level the construction area, and the substructure work for the access road was completed. In a further step, the foundations for the three planned electrical stations – two transformer stations and one distribution and grid-connection handover station – were poured. The photovoltaic field is dividend into two subfields, one of which will be fully equipped with tracking systems, and each section has its own transformer station. Once the detailed plant layout has been completed, the next construction step will be the excavation of the cable trenches as well as fencing in the site. Thanks to its long-term secured revenue base and high in-house value creation, Tezze is a commercially attractive project in a dynamically developing market. Aankondiging • Apr 26
Clearvise Ag Proposes Distributable Profit for 2025 clearvise AG resolved to carry forward in full the distributable profit for the 2025 financial year in the amount of EUR EUR 3,550,000 and, for the time being, not to propose any dividend distribution to shareholders at the Annual General Meeting. The background to this decision is that the Management Board and Supervisory Board intend to review, at a later point in time, the possibility of a dividend distribution at this year’s Annual General Meeting. Aankondiging • Jan 20
clearvise AG Announces Chief Executive Officer Changes Clearvise AG has appointed Bernhard Gierke as the new Chief Executive Officer (CEO) with effect from February 1, 2026. As previously announced on June 30, 2025, the current sole member of the Executive Board Petra Leue-Bahns will step down from the Executive Board as planned at the end of her current term of office on February 28, 2026. Ms. Leue-Bahns has decided not to stand for reappointment for personal reasons. Buy Or Sell Opportunity • Jul 24
Now 21% overvalued Over the last 90 days, the stock has fallen 12% to €1.50. The fair value is estimated to be €1.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Aankondiging • Jul 07
clearvise AG Approves Dividend clearvise AG announced that at the AGM held on July 7, 2025, reported in the annual financial statements to pay a dividend of EUR 0.06 per dividend-bearing share was approved by a large majority. Buy Or Sell Opportunity • Jun 24
Now 20% overvalued Over the last 90 days, the stock has fallen 10% to €1.54. The fair value is estimated to be €1.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. New Risk • Jun 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 6x earnings per share. Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 11% per year for the foreseeable future. New Risk • Jun 09
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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: Major Risk Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Aankondiging • May 27
clearvise AG, Annual General Meeting, Jul 04, 2025 clearvise AG, Annual General Meeting, Jul 04, 2025, at 10:00 W. Europe Standard Time. New Risk • May 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,602% 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 (1.0x net interest cover). Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). New Risk • May 08
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: 1.9% Last year net profit margin: 15% 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 (1.2x net interest cover). Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (1.9% net profit margin). Aankondiging • Apr 18
clearvise AG announces Annual dividend, payable on July 09, 2025 clearvise AG announced Annual dividend of EUR 0.0600 per share payable on July 09, 2025, ex-date on July 07, 2025 and record date on July 08, 2025. New Risk • Nov 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings are forecast to decline by an average of 47% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Nov 18
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €10.5m (down 2.7% from 3Q 2023). Net loss: €671.3k (down 119% from profit in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Renewable Energy industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €7.10m (down 32% from 2Q 2023). Net income: €475.5k (up €1.01m from 2Q 2023). Profit margin: 6.7% (up from net loss in 2Q 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Renewable Energy industry in Germany. New Risk • Jul 10
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings are forecast to decline by an average of 47% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (15% net profit margin). Aankondiging • Jun 07
clearvise AG, Annual General Meeting, Jul 12, 2024 clearvise AG, Annual General Meeting, Jul 12, 2024, at 10:00 W. Europe Standard Time. Reported Earnings • May 02
Full year 2023 earnings released: EPS: €0.091 (vs €0.15 in FY 2022) Full year 2023 results: EPS: €0.091 (down from €0.15 in FY 2022). Revenue: €51.5m (down 20% from FY 2022). Net income: €6.84m (down 41% from FY 2022). Profit margin: 13% (down from 18% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Germany are expected to remain flat. Aankondiging • Apr 19
clearvise AG to Report Fiscal Year 2023 Results on Apr 30, 2024 clearvise AG announced that they will report fiscal year 2023 results on Apr 30, 2024 Aankondiging • Oct 21
Glennmont Partners completed the acquisition of a 30 MW wind portfolio in finland from clearvise AG (XTRA:ABO). Glennmont Partners agreed to acquire a 30 MW wind portfolio in finland from clearvise AG (XTRA:ABO) on July 17, 2023. The transaction was subject to the approval of the project financing banks. The company intends to reinvest the sales proceeds in projects from strategic alliances in several European countries. Mikko Eerola and Juha-Pekka Mutanen of Dittmar & Indrenius Attorneys Ltd. acted as legal advisor to Glennmont Partners.
Glennmont Partners completed the acquisition of a 30 MW wind portfolio in finland from clearvise AG (XTRA:ABO) on October 19, 2023. Aankondiging • Jul 18
Glennmont Partners acquired 30 MW wind portfolio in finland from clearvise AG (XTRA:ABO). Glennmont Partners acquired 30 MW wind portfolio in finland from clearvise AG (XTRA:ABO) on July 17, 2023.Glennmont Partners completed the acquisition of 30 MW wind portfolio in finland from clearvise AG (XTRA:ABO) on July 17, 2023.