Aankondiging • May 19
Lingotes Especiales, S.A., Annual General Meeting, Jun 18, 2026 Lingotes Especiales, S.A., Annual General Meeting, Jun 18, 2026. Location: auditorio 2, feria de valladolid, avda de ramon pradera 3, valladolid., Spain New Risk • Mar 08
New major risk - Revenue and earnings growth Earnings have declined by 8.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (6.8% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 160% Paying a dividend despite having no free cash flows. Earnings have declined by 8.0% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (€52.5m market cap, or US$60.9m). New Risk • Feb 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (7.1% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 160% Paying a dividend despite having no free cash flows. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (€54.5m market cap, or US$64.2m). Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.80, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 11x in the Auto Components industry in Europe. Total loss to shareholders of 28% over the past three years. New Risk • Jan 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Spanish stocks, typically moving 6.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (6.8% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 160% Paying a dividend despite having no free cash flows. Minor Risks Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (€61.0m market cap, or US$72.5m). Aankondiging • May 27
Lingotes Especiales, S.A., Annual General Meeting, Jun 26, 2025 Lingotes Especiales, S.A., Annual General Meeting, Jun 26, 2025. Location: auditorio 2, feria de valladolid, avda de ramon pradera 3, valladolid, Spain Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €6.45, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 11x in the Auto Components industry in Europe. Total loss to shareholders of 35% over the past three years. New Risk • Apr 10
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 Spanish stocks, typically moving 5.4% 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 Risks Debt is not well covered by operating cash flow (4.3% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 160% Paying a dividend despite having no free cash flows. Earnings have declined by 20% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Profit margins are more than 30% lower than last year (2.0% net profit margin). Market cap is less than US$100m (€62.0m market cap, or US$67.9m). New Risk • Feb 27
New major risk - Revenue and earnings growth Earnings have declined by 25% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 128% Paying a dividend despite having no free cash flows. Earnings have declined by 25% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (€64.0m market cap, or US$67.1m). New Risk • Feb 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 128% Paying a dividend despite having no free cash flows. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (€62.4m market cap, or US$64.4m). Buy Or Sell Opportunity • Feb 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.6% to €6.28. The fair value is estimated to be €7.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 1.8% in 2 years. Earnings are forecast to grow by 33% in the next 2 years. Reported Earnings • Jul 30
First half 2024 earnings released: EPS: €0.13 (vs €0.14 in 1H 2023) First half 2024 results: EPS: €0.13 (down from €0.14 in 1H 2023). Revenue: €47.7m (down 8.1% from 1H 2023). Net income: €1.32m (down 7.4% from 1H 2023). Profit margin: 2.8% (in line with 1H 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Auto Components industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. New Risk • Jul 28
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: 3.2% Last year net profit margin: 4.6% 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 128% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (4.2% average weekly change). Profit margins are more than 30% lower than last year (3.2% net profit margin). Market cap is less than US$100m (€79.4m market cap, or US$86.2m). New Risk • Jul 26
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 Spanish stocks, typically moving 4.3% 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 Dividend is not well covered by earnings (124% payout ratio). Share price has been volatile over the past 3 months (4.3% average weekly change). Market cap is less than US$100m (€78.4m market cap, or US$85.1m). Buy Or Sell Opportunity • Jul 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to €8.04. The fair value is estimated to be €6.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has declined by 7.8%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Upcoming Dividend • Jul 05
Upcoming dividend of €0.32 per share Eligible shareholders must have bought the stock before 11 July 2024. Payment date: 15 July 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.8%. Lower than top quartile of Spanish dividend payers (5.5%). Higher than average of industry peers (3.7%). Buy Or Sell Opportunity • Jul 01
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to €8.00. The fair value is estimated to be €6.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has declined by 7.8%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Buy Or Sell Opportunity • Jun 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to €7.58. The fair value is estimated to be €6.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has declined by 7.8%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Buy Or Sell Opportunity • Jun 03
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to €7.44. The fair value is estimated to be €6.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has declined by 7.8%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Declared Dividend • May 29
Dividend of €0.32 announced Shareholders will receive a dividend of €0.32. Ex-date: 11th July 2024 Payment date: 15th July 2024 Dividend yield will be 4.6%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not adequately covered by earnings (96% earnings payout ratio). However, it is well covered by cash flows (45% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 6.7% to bring the payout ratio under control. EPS is expected to grow by 113% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Board Change • Mar 24
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent External Director Maria Marina García was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Mar 13
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 Spanish stocks, typically moving 4.4% 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 Dividend is not well covered by earnings (96% payout ratio). Share price has been volatile over the past 3 months (4.4% average weekly change). Market cap is less than US$100m (€66.8m market cap, or US$73.1m). Reported Earnings • Mar 07
Full year 2023 earnings: EPS in line with expectations, revenues disappoint Full year 2023 results: EPS: €0.32 (up from €0.32 in FY 2022). Revenue: €101.0m (down 13% from FY 2022). Net income: €3.23m (up 2.4% from FY 2022). Profit margin: 3.2% (up from 2.7% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Auto Components industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. New Risk • Feb 18
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). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€70.0m market cap, or US$75.4m). Buy Or Sell Opportunity • Jan 31
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 1.5% to €6.78. The fair value is estimated to be €5.64, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 1.7% in 2 years. Earnings are forecast to grow by 38% in the next 2 years. Reported Earnings • Aug 06
First half 2023 earnings released: EPS: €0.14 (vs €0.06 loss in 1H 2022) First half 2023 results: EPS: €0.14 (up from €0.06 loss in 1H 2022). Revenue: €51.9m (down 6.7% from 1H 2022). Net income: €1.43m (up €2.02m from 1H 2022). Profit margin: 2.8% (up from net loss in 1H 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Auto Components industry in Europe. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. New Risk • Jul 21
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 Spanish stocks, typically moving 4.5% 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 Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 127% Cash payout ratio: 471% Minor Risks Share price has been volatile over the past 3 months (4.5% average weekly change). Market cap is less than US$100m (€75.6m market cap, or US$84.0m). Upcoming Dividend • Jul 05
Upcoming dividend of €0.32 per share at 4.8% yield Eligible shareholders must have bought the stock before 12 July 2023. Payment date: 14 July 2023. Trailing yield: 4.8%. Lower than top quartile of Spanish dividend payers (5.9%). Higher than average of industry peers (3.2%). Reported Earnings • Mar 04
Full year 2022 earnings released: EPS: €0.32 (vs €0.15 loss in FY 2021) Full year 2022 results: EPS: €0.32 (up from €0.15 loss in FY 2021). Revenue: €114.5m (up 31% from FY 2021). Net income: €3.15m (up €4.63m from FY 2021). Profit margin: 2.8% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to stay flat during the next 2 years compared to a 5.0% growth forecast for the Auto Components industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Miranda-Escolar Belen was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 07
First half 2022 earnings released: €0.06 loss per share (vs €0.13 profit in 1H 2021) First half 2022 results: €0.06 loss per share (down from €0.13 profit in 1H 2021). Revenue: €55.6m (up 32% from 1H 2021). Net loss: €593.0k (down 147% from profit in 1H 2021). Over the next year, revenue is forecast to grow 4.3%, compared to a 12% growth forecast for the industry in Spain. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Miranda-Escolar Belen was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 04
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: €0.15 loss per share (down from €0.60 profit in FY 2020). Revenue: €86.6m (down 5.6% from FY 2020). Net loss: €1.48m (down 125% from profit in FY 2020). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 08
First half 2021 earnings released: EPS €0.13 (vs €0.12 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: €42.1m (up 6.5% from 1H 2020). Net income: €1.27m (up 3.3% from 1H 2020). Profit margin: 3.0% (down from 3.1% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 16% share price gain to €13.90, the stock is trading at a trailing P/E ratio of 23.3x, up from the previous P/E ratio of 20.1x. This compares to an average P/E of 27x in the Auto Components industry in Europe. Total return to shareholders over the past three years is a loss of 13%. Is New 90 Day High Low • Mar 10
New 90-day high: €13.15 The company is up 11% from its price of €11.90 on 10 December 2020. The Spanish market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 9.0% over the same period. Analyst Estimate Surprise Post Earnings • Mar 01
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 57%. Over the next year, revenue is forecast to grow 9.4%, compared to a 9.4% growth forecast for the Auto Components industry in Spain. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS €0.60 (vs €0.87 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €92.7m (down 19% from FY 2019). Net income: €5.96m (down 32% from FY 2019). Profit margin: 6.4% (down from 7.6% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 28
New 90-day low: €10.90 The company is down 1.0% from its price of €11.00 on 30 October 2020. The Spanish market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 27% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: €12.55 The company is up 14% from its price of €11.00 on 18 September 2020. The Spanish market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 25% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: €12.20 The company is up 2.0% from its price of €12.00 on 21 August 2020. The Spanish market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 22% over the same period.