Buy Or Sell Opportunity • Aug 11
Now 21% undervalued Over the last 90 days, the stock has risen 16% to €4.88. The fair value is estimated to be €6.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 9.6% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Buy Or Sell Opportunity • Jul 20
Now 21% undervalued Over the last 90 days, the stock has risen 7.3% to €4.51. The fair value is estimated to be €5.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to grow by 8.8% in 2 years. Earnings are forecast to grow by 75% in the next 2 years. New Risk • Jun 09
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 49% 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: Minor Risks High level of debt (49% net debt to equity). Large one-off items impacting financial results. Reported Earnings • Apr 29
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.098 (down from €0.19 in FY 2024). Revenue: €424.7m (flat on FY 2024). Net income: €18.4m (down 45% from FY 2024). Profit margin: 4.3% (down from 7.8% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Medical Equipment industry in Italy. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €4.20, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Medical Equipment industry in Italy. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.83 per share. New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 42% 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: Minor Risks High level of debt (42% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin). Buy Or Sell Opportunity • Mar 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.8% to €3.43. The fair value is estimated to be €4.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has declined by 5.4%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 122% in the next 2 years. New Risk • Nov 29
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 56% 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: Minor Risks High level of debt (56% net debt to equity). Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 14
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: €104.8m (down 1.9% from 3Q 2024). Net income: €7.98m (up €7.46m from 3Q 2024). Profit margin: 7.6% (up from 0.5% in 3Q 2024). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Italy. New Risk • Nov 13
New major risk - Revenue and earnings growth Earnings have declined by 35% 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 35% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). New Risk • Oct 23
New major risk - Revenue and earnings growth Earnings have declined by 35% 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 35% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Major Estimate Revision • Oct 22
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €448.1m to €443.3m. EPS estimate also fell from €0.112 per share to €0.101 per share. Net income forecast to grow 136% next year vs 19% growth forecast for Medical Equipment industry in Italy. Consensus price target down from €6.23 to €6.05. Share price fell 9.9% to €4.19 over the past week. New Risk • Sep 15
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 Italian 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: Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Reported Earnings • Aug 10
Second quarter 2025 earnings released: €0.005 loss per share (vs €0.055 profit in 2Q 2024) Second quarter 2025 results: €0.005 loss per share (down from €0.055 profit in 2Q 2024). Revenue: €112.1m (up 1.2% from 2Q 2024). Net loss: €880.0k (down 109% from profit in 2Q 2024). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Medical Equipment industry in Italy. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 20% per year. Major Estimate Revision • Jul 11
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €458.6m to €452.6m. EPS estimate also fell from €0.27 per share to €0.196 per share. Net income forecast to grow 66% next year vs 24% growth forecast for Medical Equipment industry in Italy. Consensus price target of €6.38 unchanged from last update. Share price fell 3.8% to €5.35 over the past week. Aankondiging • Jul 08
GVS S.p.A. (BIT:GVS) commences an Equity Buyback Plan for 37,835,539 shares, representing 20% of its issued share capital, under the authorization approved on May 8, 2025. GVS S.p.A. (BIT:GVS) commences a share repurchases on July 1, 2025, under the program mandated by the shareholders in the Ordinary General Meeting held on May 8, 2025. As per the mandate, the company is authorized to repurchase 37,835,539 shares in such a way that the maximum number of shares purchased may not have a total nominal value in excess of 20% of the company’s share capital. The shares will be repurchased at a unit price of not lower than 20% below and not higher than 10% above the reference price that the share will have recorded in the trading session of the day preceding each individual transaction. The purpose of the program is to support market liquidity and efficiency, for holding and subsequent use, including, payment in extraordinary transactions and for the use in service of compensation plans based on financial instruments. The authorization will be valid for a period of 18 months. As of March 24, 2025, the company had 189,177,693 shares in outstanding and held no shares in treasury.
On June 30, 2025, the company announced a share repurchase program. Under the program, the company will repurchase up to 4,000,000 shares, representing 2.1% of the share capital, for €20 million. The program will commence from July 1, 2025 and will run through December 31, 2025. Buy Or Sell Opportunity • Jun 25
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to €4.84. The fair value is estimated to be €3.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has declined by 31%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 114% in the next 2 years. New Risk • May 22
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 50% 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: Minor Risks High level of debt (50% net debt to equity). Large one-off items impacting financial results. Reported Earnings • Apr 21
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: €0.19 (up from €0.078 in FY 2023). Revenue: €428.5m (flat on FY 2023). Net income: €33.4m (up 145% from FY 2023). Profit margin: 7.8% (up from 3.2% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Machinery industry in Italy. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €4.12, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Machinery industry in Italy. Total loss to shareholders of 49% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.26 per share. Aankondiging • Feb 22
GVS S.p.A. to Report Q3, 2025 Results on Nov 12, 2025 GVS S.p.A. announced that they will report Q3, 2025 results on Nov 12, 2025 New Risk • Jan 27
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 Italian stocks, typically moving 5.5% 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: Minor Risks High level of debt (87% net debt to equity). Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Aankondiging • Jan 15
GVS S.p.A. (BIT:GVS) completed the acquisition of Whole Blood Assets within Blood Center Business from Haemonetics Corporation (NYSE:HAE). GVS S.p.A. (BIT:GVS) entered into a definitive agreement to acquire Whole Blood Assets within Blood Center Business from Haemonetics Corporation (NYSE:HAE) for $67.8 million on December 3, 2024. The transaction comprises a total cash consideration of up to $67.8 million, including $45.3 million upfront after giving effect to certain customary adjustments, and up to $22.5million in contingent earn-outs over the next four years. Haemonetics Corporation intends to use the proceeds from this transaction for general corporate purposes and additional investments in growth initiatives. The Transaction will be funded using available cash resources.
This transaction is subject to the satisfaction of customary closing conditions and is expected to close in the first quarter of calendar 2025. Banca Sella Holding S.p.A.acted as sole financial advisor and Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to GVS.
GVS S.p.A. (BIT:GVS) completed the acquisition of Whole Blood Assets within Blood Center Business from Haemonetics Corporation (NYSE:HAE) on December 3, 2024. Buy Or Sell Opportunity • Dec 18
Now 21% overvalued Over the last 90 days, the stock has fallen 20% to €5.20. The fair value is estimated to be €4.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 254% in the next 2 years. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: €0.003 (vs €0.049 in 3Q 2023) Third quarter 2024 results: EPS: €0.003 (down from €0.049 in 3Q 2023). Revenue: €111.5m (up 12% from 3Q 2023). Net income: €519.0k (down 94% from 3Q 2023). Profit margin: 0.5% (down from 8.5% in 3Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Machinery industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. New Risk • Sep 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x 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 Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Large one-off items impacting financial results. Reported Earnings • Sep 13
Second quarter 2024 earnings released: EPS: €0.056 (vs €0.027 in 2Q 2023) Second quarter 2024 results: EPS: €0.056 (up from €0.027 in 2Q 2023). Revenue: €114.7m (up 4.9% from 2Q 2023). Net income: €9.58m (up 100% from 2Q 2023). Profit margin: 8.4% (up from 4.4% in 2Q 2023). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Machinery industry in Italy. 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. Price Target Changed • Jun 10
Price target increased by 9.4% to €6.97 Up from €6.37, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €7.00. Stock is up 14% over the past year. The company is forecast to post earnings per share of €0.22 for next year compared to €0.078 last year. New Risk • Jun 04
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 76% 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: Minor Risks High level of debt (76% net debt to equity). Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €6.90, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 11x in the Machinery industry in Italy. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €3.72 per share. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: €0.074 (vs €0.015 in 1Q 2023) First quarter 2024 results: EPS: €0.074 (up from €0.015 in 1Q 2023). Revenue: €105.2m (up 1.1% from 1Q 2023). Net income: €13.0m (up 411% from 1Q 2023). Profit margin: 12% (up from 2.4% in 1Q 2023). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Aankondiging • Apr 24
GVS S.p.A. to Report Q1, 2024 Results on May 14, 2024 GVS S.p.A. announced that they will report Q1, 2024 results on May 14, 2024 Major Estimate Revision • Apr 14
Consensus EPS estimates increase by 27% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €0.182 to €0.231. Revenue forecast steady at €445.0m. Net income forecast to grow 195% next year vs 9.1% growth forecast for Machinery industry in Italy. Consensus price target of €6.37 unchanged from last update. Share price fell 2.9% to €5.96 over the past week. New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 51% 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 Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.2% net profit margin). New Risk • Mar 28
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.5x 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 Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (3.1% net profit margin). Aankondiging • Feb 26
GVS S.p.A. to Report Fiscal Year 2023 Results on Mar 26, 2024 GVS S.p.A. announced that they will report fiscal year 2023 results on Mar 26, 2024 Reported Earnings • Nov 12
Third quarter 2023 earnings released: EPS: €0.048 (vs €0.072 in 3Q 2022) Third quarter 2023 results: EPS: €0.048 (down from €0.072 in 3Q 2022). Revenue: €104.4m (down 2.6% from 3Q 2022). Net income: €8.49m (down 33% from 3Q 2022). Profit margin: 8.1% (down from 12% in 3Q 2022). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Machinery industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. Aankondiging • Oct 11
GVS S.p.A. to Report Q3, 2023 Results on Nov 09, 2023 GVS S.p.A. announced that they will report Q3, 2023 results on Nov 09, 2023 Reported Earnings • Sep 07
Second quarter 2023 earnings released: EPS: €0.025 (vs €0.11 in 2Q 2022) Second quarter 2023 results: EPS: €0.025 (down from €0.11 in 2Q 2022). Revenue: €111.9m (up 31% from 2Q 2022). Net income: €4.79m (down 76% from 2Q 2022). Profit margin: 4.3% (down from 23% in 2Q 2022). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Machinery industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 127 percentage points per year, which is a significant difference in performance. Aankondiging • Aug 08
GVS S.p.A. to Report Q2, 2023 Results on Sep 05, 2023 GVS S.p.A. announced that they will report Q2, 2023 results on Sep 05, 2023 Price Target Changed • May 23
Price target increased by 8.7% to €6.63 Up from €6.10, the current price target is an average from 4 analysts. New target price is 16% above last closing price of €5.72. Stock is down 24% over the past year. The company is forecast to post earnings per share of €0.19 for next year compared to €0.14 last year. Reported Earnings • May 16
First quarter 2023 earnings released: EPS: €0.014 (vs €0.072 in 1Q 2022) First quarter 2023 results: EPS: €0.014 (down from €0.072 in 1Q 2022). Revenue: €105.0m (up 29% from 1Q 2022). Net income: €2.50m (down 80% from 1Q 2022). Profit margin: 2.4% (down from 16% in 1Q 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Machinery industry in Italy. Price Target Changed • Apr 30
Price target increased by 8.7% to €6.63 Up from €6.10, the current price target is an average from 3 analysts. New target price is 7.4% above last closing price of €6.18. Stock is down 23% over the past year. The company is forecast to post earnings per share of €0.20 for next year compared to €0.14 last year. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €5.44, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Machinery industry in Italy. Total loss to shareholders of 32% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.63 per share. Reported Earnings • Mar 22
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: €0.27 (down from €0.39 in FY 2021). Revenue: €392.0m (up 15% from FY 2021). Net income: €46.5m (down 31% from FY 2021). Profit margin: 12% (down from 20% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 38%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Machinery industry in Italy. Price Target Changed • Jan 23
Price target increased to €6.55 Up from €5.50, the current price target is provided by 1 analyst. New target price is 30% above last closing price of €5.04. Stock is down 46% over the past year. The company is forecast to post earnings per share of €0.29 for next year compared to €0.39 last year. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 16% share price gain to €4.91, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 12x in the Machinery industry in Italy. Total loss to shareholders of 50% over the past year. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improved over the past week After last week's 16% share price gain to €4.02, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Machinery industry in Italy. Total loss to shareholders of 62% over the past year. 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. 12 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Executive Director Matteo Viola was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment deteriorated over the past week After last week's 38% share price decline to €3.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Machinery industry in Italy. Total loss to shareholders of 72% over the past year. Reported Earnings • Sep 11
Second quarter 2022 earnings released: EPS: €0.11 (vs €0.096 in 2Q 2021) Second quarter 2022 results: EPS: €0.11 (up from €0.096 in 2Q 2021). Revenue: €85.3m (down 1.5% from 2Q 2021). Net income: €19.8m (up 18% from 2Q 2021). Profit margin: 23% (up from 19% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Italy. 
