Board Change • May 21
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. 2 experienced directors. 3 highly experienced directors. Independent Director Gabor Briglovics was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 30
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. 2 experienced directors. 3 highly experienced directors. Independent Director Gabor Briglovics was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 30
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. 2 experienced directors. 3 highly experienced directors. Independent Director Gabor Briglovics was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 25
First half 2024 earnings released: EPS: Ft46.00 (vs Ft74.00 in 1H 2023) First half 2024 results: EPS: Ft46.00 (down from Ft74.00 in 1H 2023). Revenue: Ft4.13b (down 32% from 1H 2023). Net income: Ft698.0m (down 40% from 1H 2023). Profit margin: 17% (down from 19% in 1H 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 02
Full year 2023 earnings released: EPS: Ft112 (vs Ft82.09 in FY 2022) Full year 2023 results: EPS: Ft112 (up from Ft82.09 in FY 2022). Revenue: Ft9.67b (up 35% from FY 2022). Net income: Ft1.72b (up 31% from FY 2022). Profit margin: 18% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Board Change • May 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. 2 experienced directors. 3 highly experienced directors. Independent Director Gabor Briglovics was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 07
Full year 2023 earnings released: EPS: Ft112 (vs Ft82.09 in FY 2022) Full year 2023 results: EPS: Ft112 (up from Ft82.09 in FY 2022). Revenue: Ft9.39b (up 31% from FY 2022). Net income: Ft1.72b (up 31% from FY 2022). Profit margin: 18% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Apr 02
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 High level of debt (66% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Market cap is less than US$100m (€56.8m market cap, or US$61.0m). Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €3.82, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 17x in the Renewable Energy industry in Germany. Total returns to shareholders of 67% over the past three years. Reported Earnings • Sep 17
First half 2023 earnings released: EPS: Ft74.00 (vs Ft45.00 in 1H 2022) First half 2023 results: EPS: Ft74.00 (up from Ft45.00 in 1H 2022). Revenue: Ft6.05b (up 64% from 1H 2022). Net income: Ft1.16b (up 58% from 1H 2022). Profit margin: 19% (in line with 1H 2022). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. New Risk • Aug 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.0% 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. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risks Shareholders have been diluted in the past year (4.0% increase in shares outstanding). Market cap is less than US$100m (€51.3m market cap, or US$56.2m). New Risk • Jun 17
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 6.9% 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: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (189% cash payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (€48.7m market cap, or US$53.2m). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €3.11, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 19x in the Renewable Energy industry in Germany. Total returns to shareholders of 77% over the past three years. Reported Earnings • May 01
Full year 2022 earnings released: EPS: Ft8.68 (vs Ft54.71 in FY 2021) Full year 2022 results: EPS: Ft8.68 (down from Ft54.71 in FY 2021). Net income: Ft146.6m (down 84% from FY 2021). 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 18% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 02
First half 2022 earnings released: EPS: Ft45.10 (vs Ft37.17 in 1H 2021) First half 2022 results: EPS: Ft45.10 (up from Ft37.17 in 1H 2021). Revenue: Ft3.69b (up 7.0% from 1H 2021). Net income: Ft732.0m (up 10% from 1H 2021). Profit margin: 20% (in line with 1H 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 22
Upcoming dividend of Ft18.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 14 July 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.4%). In line with average of industry peers (1.9%). Reported Earnings • May 02
Full year 2021 earnings released: EPS: Ft54.71 (vs Ft14.01 in FY 2020) Full year 2021 results: EPS: Ft54.71 (up from Ft14.01 in FY 2020). Revenue: Ft6.44b (up 8.7% from FY 2020). Net income: Ft897.0m (up 280% from FY 2020). Profit margin: 14% (up from 4.0% in FY 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Director Gabor Briglovics was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 26% share price gain to €3.16, the stock trades at a trailing P/E ratio of 23.3x. Average trailing P/E is 29x in the Renewable Energy industry in Europe. Total returns to shareholders of 59% over the past three years. Reported Earnings • Sep 08
First half 2021 earnings released: EPS Ft37.17 (vs Ft5.01 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: Ft3.44b (up 7.7% from 1H 2020). Net income: Ft664.0m (up Ft574.0m from 1H 2020). Profit margin: 19% (up from 2.8% in 1H 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Apr 18
Full year 2020 earnings released: EPS Ft14.01 (vs Ft40.77 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: Ft5.92b (up 4.9% from FY 2019). Net income: Ft236.3m (down 68% from FY 2019). Profit margin: 4.0% (down from 13% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. Is New 90 Day High Low • Feb 10
New 90-day high: €2.48 The company is up 25% from its price of €1.98 on 12 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 13% over the same period. Is New 90 Day High Low • Jan 16
New 90-day high: €2.17 The company is up 17% from its price of €1.85 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 11
New 90-day high: €2.07 The company is up 13% from its price of €1.83 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 09
New 90-day high: €1.95 The company is up 7.0% from its price of €1.82 on 11 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is down 2.0% over the same period. Is New 90 Day High Low • Oct 21
New 90-day high: €1.92 The company is up 12% from its price of €1.71 on 22 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is down 5.0% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: €1.89 The company is up 4.0% from its price of €1.83 on 19 June 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Renewable Energy industry, which is down 1.0% over the same period. Aankondiging • Aug 16
PannErgy Nyrt. to Report First Half, 2020 Results on Aug 06, 2020 PannErgy Nyrt. announced that they will report first half, 2020 results on Aug 06, 2020