Aankondiging • Feb 17
Emova Group SA, Annual General Meeting, Mar 26, 2026 Emova Group SA, Annual General Meeting, Mar 26, 2026. Location: 145 rue jean jacques rousseau, issy les moulineaux France New Risk • Feb 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% 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 (2.7x net interest cover). Shareholders have been substantially diluted in the past year (116% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€13.9m market cap, or US$16.6m). New Risk • Feb 02
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 French stocks, typically moving 8.1% 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 Earnings have declined by 73% per year over the past 5 years. Shareholders have been substantially diluted in the past year (116% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (€15.3m market cap, or US$18.1m). New Risk • Jan 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 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 Earnings have declined by 73% per year over the past 5 years. Shareholders have been substantially diluted in the past year (116% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Market cap is less than US$100m (€12.4m market cap, or US$14.4m). New Risk • Sep 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 116% 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 (10% average weekly change). Earnings have declined by 73% per year over the past 5 years. Shareholders have been substantially diluted in the past year (116% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€13.2m market cap, or US$15.4m). New Risk • May 16
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 11% 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 (11% average weekly change). Earnings have declined by 67% per year over the past 5 years. Market cap is less than US$10m (€5.78m market cap, or US$6.48m). New Risk • Mar 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 French stocks, typically moving 7.4% 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 Interest payments are not well covered by earnings (1.6x net interest cover). Earnings have declined by 67% per year over the past 5 years. Market cap is less than US$10m (€6.54m market cap, or US$7.07m). Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). New Risk • Mar 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.6x 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 (1.6x net interest cover). Earnings have declined by 67% per year over the past 5 years. Market cap is less than US$10m (€7.68m market cap, or US$8.34m). Aankondiging • Feb 15
Emova Group SA, Annual General Meeting, Mar 21, 2025 Emova Group SA, Annual General Meeting, Mar 21, 2025. Location: 145 rue jean jacques rousseau, issy les moulineaux France New Risk • Jan 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 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 Earnings have declined by 38% per year over the past 5 years. Market cap is less than US$10m (€8.06m market cap, or US$8.29m). Minor Risks High level of debt (57% net debt to equity). Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Reported Earnings • Jul 10
First half 2024 earnings released: EPS: €0.02 (vs €0.043 in 1H 2023) First half 2024 results: EPS: €0.02 (down from €0.043 in 1H 2023). Revenue: €14.8m (down 11% from 1H 2023). Net income: €186.0k (down 53% from 1H 2023). Profit margin: 1.3% (down from 2.4% in 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. New Risk • Jun 07
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 French stocks, typically moving 6.8% 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 Earnings have declined by 19% per year over the past 5 years. Minor Risks High level of debt (57% net debt to equity). Share price has been volatile over the past 3 months (6.8% average weekly change). Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Market cap is less than US$100m (€9.96m market cap, or US$10.8m). New Risk • Feb 08
New major risk - Revenue and earnings growth Earnings have declined by 19% 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 Risk Earnings have declined by 19% per year over the past 5 years. Minor Risks High level of debt (57% net debt to equity). Shareholders have been diluted in the past year (5.5% increase in shares outstanding). Market cap is less than US$100m (€11.2m market cap, or US$12.0m). New Risk • Jan 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 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 Risk Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (€10.4m market cap, or US$11.4m). New Risk • Aug 08
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 9.8% 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 Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.8% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (€10.2m market cap, or US$11.1m). New Risk • Aug 04
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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 Risk Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Share price has been volatile over the past 3 months (9.8% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (€10.2m market cap, or US$11.2m). New Risk • Jul 26
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% 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 (10% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (€11.1m market cap, or US$12.3m). Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €1.30, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 11x in the Specialty Retail industry in France. Total returns to shareholders of 45% over the past three years. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.36, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 8x in the Specialty Retail industry in France. Total loss to shareholders of 26% over the past three years. Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: €0.15 (vs €0.035 in FY 2021) Full year 2022 results: EPS: €0.15 (up from €0.035 in FY 2021). Revenue: €32.3m (up 8.5% from FY 2021). Net income: €1.30m (up 348% from FY 2021). Profit margin: 4.0% (up from 1.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 12
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €263.0k from profit in 1H 2021). Profit margin: (down from 1.8% in 1H 2021). Reported Earnings • Feb 06
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: €0.035 (up from €0.01 loss in FY 2020). Revenue: €29.7m (up 28% from FY 2020). Net income: €290.0k (up €376.0k from FY 2020). Profit margin: 1.0% (up from net loss in FY 2020). Revenue missed analyst estimates by 21%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 16% share price gain to €1.57, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 9x in the Specialty Retail industry in France. Total loss to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 15% share price gain to €1.70, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 14x in the Specialty Retail industry in France. Total loss to shareholders of 70% over the past three years. Is New 90 Day High Low • Feb 16
New 90-day high: €1.70 The company is up 68% from its price of €1.01 on 17 November 2020. The French market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 13% over the same period. Reported Earnings • Feb 14
Full year 2020 earnings released: €0.02 loss per share (vs €0.017 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €23.3m (down 9.8% from FY 2019). Net loss: €86.0k (down 190% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 74% per year but the company’s share price has only fallen by 41% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 18
New 90-day high: €1.40 The company is up 45% from its price of €0.97 on 20 October 2020. The French market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 26
New 90-day high: €1.27 The company is up 7.0% from its price of €1.18 on 28 August 2020. The French market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 28
New 90-day low: €0.83 The company is down 25% from its price of €1.10 on 29 July 2020. The French market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 19% over the same period. Is New 90 Day High Low • Oct 02
New 90-day low: €0.97 The company is down 5.0% from its price of €1.02 on 03 July 2020. The French market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 6.0% over the same period.