New Risk • May 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 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 Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (€2.28m market cap, or US$2.65m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Aankondiging • May 07
Dolfines SA, Annual General Meeting, Jun 18, 2026 Dolfines SA, Annual General Meeting, Jun 18, 2026. Location: 12 avenue des pres, montigny le bretonneux France Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to €1.29, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 14x in the Energy Services industry in Europe. Total loss to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €1.17, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 12x in the Energy Services industry in Europe. Total loss to shareholders of 99% over the past three years. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €1.39, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 96% over the past three years. New Risk • Dec 18
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 French stocks, typically moving 10% 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Shareholders have been substantially diluted in the past year (306% increase in shares outstanding). Market cap is less than US$10m (€2.91m market cap, or US$3.41m). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.65, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 97% over the past three years. New Risk • Nov 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 Risks Shareholders have been substantially diluted in the past year (306% increase in shares outstanding). Market cap is less than US$10m (€3.63m market cap, or US$4.22m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (9.1% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €2.15, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €2.07, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €2.20, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 100% over the past three years. New Risk • May 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 306% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Shareholders have been substantially diluted in the past year (306% increase in shares outstanding). Market cap is less than US$10m (€6.37m market cap, or US$7.23m). Minor Risk Large one-off items impacting financial results. Aankondiging • May 13
Dolfines SA, Annual General Meeting, Jun 19, 2025 Dolfines SA, Annual General Meeting, Jun 19, 2025. Location: 12 avenue des pres, montigny le bretonneux France New Risk • May 02
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2023. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2023 fiscal period end). Share price has been highly volatile over the past 3 months (14% average weekly change). Revenue has declined by 30% over the past year. Market cap is less than US$10m (€1.72m market cap, or US$1.94m). Minor Risk Revenue is less than US$5m (€3.7m revenue, or US$4.2m). New Risk • Nov 17
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: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 70% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Market cap is less than US$10m (€1.35m market cap, or US$1.42m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Revenue is less than US$5m (€3.7m revenue, or US$3.9m). New Risk • Oct 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 60% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 70% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Market cap is less than US$10m (€1.78m market cap, or US$1.96m). Minor Risk Revenue is less than US$5m (€3.7m revenue, or US$4.1m). Aankondiging • May 20
Dolfines SA, Annual General Meeting, Jun 28, 2024 Dolfines SA, Annual General Meeting, Jun 28, 2024. Location: 12 avenue des pres, montigny le bretonneux France New Risk • Apr 28
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2022. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2022 fiscal period end). Share price has been highly volatile over the past 3 months (38% average weekly change). Shareholders have been substantially diluted in the past year (282% increase in shares outstanding). Market cap is less than US$10m (€1.29m market cap, or US$1.38m). New Risk • Nov 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Share price has been highly volatile over the past 3 months (48% average weekly change). Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 13x increase in shares outstanding). Market cap is less than US$10m (€924.3k market cap, or US$987.6k). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). New Risk • Jul 05
New major risk - Revenue and earnings growth Earnings have declined by 29% 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 Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 13x increase in shares outstanding). Market cap is less than US$10m (€283.8k market cap, or US$308.7k). Aankondiging • May 12
Dolfines SA (ENXTPA:ALDOL) acquired Aegide International SAS. Dolfines SA (ENXTPA:ALDOL) acquired Aegide International SAS on May 11, 2023. In 2022, AEGIDE International generated a turnover of €2.75 million.Dolfines SA (ENXTPA:ALDOL) completed the acquisition of Aegide International SAS on May 11, 2023. Board Change • Nov 16
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. 6 non-independent directors. MD & Director Yann Lepoutre was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 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. 6 non-independent directors. MD & Director Yann Lepoutre was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Is New 90 Day High Low • Mar 07
New 90-day low: €1.71 The company is down 27% from its price of €2.35 on 07 December 2020. The French market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: €2.76 The company is up 182% from its price of €0.98 on 30 September 2020. The French market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 41% over the same period. Is New 90 Day High Low • Dec 05
New 90-day high: €1.64 The company is up 33% from its price of €1.24 on 04 September 2020. The French market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 27% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: €0.87 The company is down 25% from its price of €1.17 on 30 July 2020. The French market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is down 14% over the same period.