New Risk • 15h
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 48% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks High level of debt (48% net debt to equity). Dividend is not well covered by earnings (139% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.9% net profit margin). Reported Earnings • May 15
First quarter 2026 earnings released: EPS: €0.086 (vs €0.30 in 1Q 2025) First quarter 2026 results: EPS: €0.086 (down from €0.30 in 1Q 2025). Revenue: €73.1m (up 2.5% from 1Q 2025). Net income: €1.07m (down 72% from 1Q 2025). Profit margin: 1.5% (down from 5.3% in 1Q 2025). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 5% per year. Declared Dividend • May 11
Dividend of €0.58 announced Dividend of €0.58 is the same as last year. Ex-date: 25th May 2026 Payment date: 27th May 2026 Dividend yield will be 4.2%, which is lower than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (139% earnings payout ratio). However, it is well covered by cash flows (43% cash payout ratio). The dividend has increased by an average of 1.9% 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 55% to bring the payout ratio under control. EPS is expected to grow by 110% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Aankondiging • Mar 30
Sabaf S.p.A., Annual General Meeting, Apr 29, 2026 Sabaf S.p.A., Annual General Meeting, Apr 29, 2026, at 10:00 W. Europe Standard Time. Location: via dei carpini n 1, ospitaletto bs Italy Aankondiging • Mar 25
Sabaf S.p.A. announces Annual dividend, payable on May 27, 2026 Sabaf S.p.A. announced Annual dividend of EUR 0.5800 per share payable on May 27, 2026, ex-date on May 25, 2026 and record date on May 26, 2026. Board Change • Feb 11
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 Director Camilla Ciambellotti was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 01
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 Director Laura Ciambellotti was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 06
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 Director Laura Ciambellotti was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 07
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 Director Laura Ciambellotti was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Mar 26
Sabaf S.p.A. announces Annual dividend, payable on May 28, 2025 Sabaf S.p.A. announced Annual dividend of EUR 0.5800 per share payable on May 28, 2025, ex-date on May 26, 2025 and record date on May 27, 2025. Board Change • Feb 27
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 Director Laura Ciambellotti was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 14
Third quarter 2024 earnings released Third quarter 2024 results: EPS: €0.095. Revenue: €72.2m (up 6.3% from 3Q 2023). Net income: €1.20m (down 57% from 3Q 2023). Profit margin: 1.7% (down from 4.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Consumer Durables industry in the United Kingdom. Board Change • Oct 25
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 Director Laura Ciambellotti was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 12
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 Director Laura Ciambellotti was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • May 27
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 44% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks High level of debt (44% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (11% increase in shares outstanding). Upcoming Dividend • May 22
Upcoming dividend of €0.54 per share Eligible shareholders must have bought the stock before 27 May 2024. Payment date: 29 May 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.8%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (4.4%). Board Change • May 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Apr 10
Sabaf S.p.A., Annual General Meeting, May 08, 2024 Sabaf S.p.A., Annual General Meeting, May 08, 2024, at 10:30 Central European Standard Time. Location: registered office in Ospitaletto (BS) Via dei Carpini no. 1 Brescia Italy Agenda: To discuss Financial report at 31 December 2023: management report prepared by the Board of Directors and consolidated non-financial statement; Independent Auditors' Report and Report of the Board of Statutory Auditors, approval of the Financial statements at 31 December 2023; to discuss Resolution on the dividend proposal; to discuss Report on remuneration policy and remuneration paid; to Appointment of the Board of Directors; to Appointment of the Board of Statutory Auditors for the three-year period from 2024 to 2026; to discuss Authorization to renew an insurance policy for the Company's directors, statutory auditors and managers for the period from 2024 to 2026; and to discuss other matters. Board Change • Jan 09
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 29
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. 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 • Sep 09
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €52.6m (down 30% from 2Q 2022). Net loss: €631.0k (down 111% from profit in 2Q 2022). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 13% per year. Board Change • Sep 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Aug 04
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jul 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% 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 Shares are highly illiquid. Minor Risks High level of debt (54% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.9% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding). Board Change • Jul 07
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. 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 • May 15
First quarter 2023 earnings released First quarter 2023 results: €0.07 loss per share. Revenue: €60.4m (down 15% from 1Q 2022). Net loss: €791.0k (down 111% from profit in 1Q 2022). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 1.7% decline forecast for the Consumer Durables industry in the United Kingdom. Board Change • Mar 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. 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 • Feb 18
Full year 2022 earnings released Full year 2022 results: Revenue: €263.2m (flat on FY 2021). Net income: €15.7m (down 34% from FY 2021). Profit margin: 6.0% (down from 9.1% in FY 2021). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Consumer Durables industry in the United Kingdom. Board Change • Feb 01
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. 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 • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €57.7m (down 8.5% from 3Q 2021). Net income: €88.0k (down 99% from 3Q 2021). Profit margin: 0.2% (down from 10% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in the United Kingdom are expected to remain flat. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. 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 • Sep 01
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €74.8m (up 2.7% from 2Q 2021). Net income: €5.55m (down 33% from 2Q 2021). Profit margin: 7.4% (down from 11% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.7%, compared to a 14% growth forecast for the Consumer Durables industry in the United Kingdom. Board Change • Jun 22
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • May 23
Upcoming dividend of €0.60 per share Eligible shareholders must have bought the stock before 30 May 2022. Payment date: 01 June 2022. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of British dividend payers (4.9%). Lower than average of industry peers (7.5%). Reported Earnings • May 15
First quarter 2022 earnings released First quarter 2022 results: Revenue: €73.4m (up 13% from 1Q 2021). Net income: €7.45m (down 12% from 1Q 2021). Profit margin: 10% (down from 13% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 3.9%, compared to a 10% growth forecast for the industry in the United Kingdom. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. 3 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. 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 • Apr 10
Full year 2021 earnings released: EPS: €2.13 (vs €1.24 in FY 2020) Full year 2021 results: EPS: €2.13 (up from €1.24 in FY 2020). Revenue: €263.3m (up 42% from FY 2020). Net income: €23.9m (up 71% from FY 2020). Profit margin: 9.1% (up from 7.6% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.5%, compared to a 10% growth forecast for the industry in the United Kingdom. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 15% share price gain to €24.00, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 8x in the Consumer Durables industry in the United Kingdom. Simply Wall St's valuation model estimates the intrinsic value at €25.95 per share. Buying Opportunity • Mar 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be €23.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% per annum over the last 3 years. Earnings per share has grown by 221% over the last year. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €18.95, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Consumer Durables industry in the United Kingdom. Total loss to shareholders of 4.6% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €23.19 per share. Reported Earnings • Feb 11
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €271.9m (up 47% from FY 2020). Net income: €23.9m (up 71% from FY 2020). Profit margin: 8.8% (up from 7.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 1.9%, compared to a 7.1% growth forecast for the industry in the United Kingdom. Reported Earnings • Nov 14
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €64.6m (up 37% from 3Q 2020). Net income: €6.51m (up 258% from 3Q 2020). Profit margin: 10% (up from 3.9% in 3Q 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improved over the past week After last week's 16% share price gain to €29.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Consumer Durables industry in the United Kingdom. Total returns to shareholders of 97% over the past three years. Board Change • Sep 14
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. 9 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Director Carlo Scarpa was the last independent director to join the board, commencing their role in 2019. 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 05
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €75.4m (up 120% from 2Q 2020). Net income: €8.29m (up €7.42m from 2Q 2020). Profit margin: 11% (up from 2.6% in 2Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • May 24
Upcoming dividend of €0.55 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 02 June 2021. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (3.5%). Reported Earnings • Feb 14
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €184.9m (up 19% from FY 2019). Net income: €14.0m (up 36% from FY 2019). Profit margin: 7.6% (up from 6.6% in FY 2019). The increase in margin was driven by higher revenue. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue beats expectations Revenue exceeded analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 8.2%, compared to a 18% growth forecast for the Consumer Durables industry in the United Kingdom. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 26% share price gain to €19.00, the stock is trading at a trailing P/E ratio of 24.1x, up from the previous P/E ratio of 19.1x. This compares to an average P/E of 19x in the Consumer Durables industry in the United Kingdom. Total returns to shareholders over the past three years are 22%. Valuation Update With 7 Day Price Move • Dec 09
Market bids up stock over the past week After last week's 50% share price gain to €19.34, the stock is trading at a trailing P/E ratio of 19.6x, up from the previous P/E ratio of 13.1x. This compares to an average P/E of 19x in the Consumer Durables industry in the United Kingdom. Total return to shareholders over the past three years is a loss of 8.7%. Analyst Estimate Surprise Post Earnings • Nov 16
Revenue misses expectations Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 14%, compared to a 11% growth forecast for the Consumer Durables industry in the United Kingdom. Analyst Estimate Surprise Post Earnings • Nov 12
Revenue misses expectations Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 14%, compared to a 11% growth forecast for the Consumer Durables industry in the United Kingdom. Upcoming Dividend • Oct 05
Upcoming Dividend of €0.35 Per Share Will be paid on the 14th of October to those who are registered shareholders by the 12th of October. The trailing yield of 2.7% is below the top quartile of British dividend payers (5.2%), and is lower than industry peers (3.6%). 
