New Risk • Mar 26
New major risk - Revenue and earnings growth Earnings have declined by 53% 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. This is currently the only risk that has been identified for the company. Price Target Changed • Mar 10
Price target decreased by 11% to €17.00 Down from €19.00, the current price target is an average from 2 analysts. New target price is 47% above last closing price of €11.58. Stock is up 15% over the past year. The company is forecast to post earnings per share of €0.91 next year compared to a net loss per share of €0.77 last year. New Risk • Nov 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 5.9% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 17
First quarter 2026 earnings released: EPS: €0.32 (vs €0.16 loss in 1Q 2025) First quarter 2026 results: EPS: €0.32 (up from €0.16 loss in 1Q 2025). Revenue: €45.5m (up 112% from 1Q 2025). Net income: €4.59m (up €6.89m from 1Q 2025). Profit margin: 10% (up from net loss in 1Q 2025). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 29
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: €0.77 loss per share (further deteriorated from €0.15 loss in FY 2024). Revenue: €93.6m (down 21% from FY 2024). Net loss: €10.9m (loss widened 393% from FY 2024). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Entertainment industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. New Risk • Jul 24
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 Italian stocks, typically moving 7.6% 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. This is currently the only risk that has been identified for the company. Price Target Changed • Jul 24
Price target increased by 8.6% to €19.00 Up from €17.50, the current price target is an average from 2 analysts. New target price is 52% above last closing price of €12.50. Stock is up 45% over the past year. The company is forecast to post a net loss per share of €1.11 next year compared to a net loss per share of €0.16 last year. Price Target Changed • Jul 22
Price target increased by 10% to €19.50 Up from €17.67, the current price target is an average from 2 analysts. New target price is 22% above last closing price of €15.94. Stock is up 83% over the past year. The company is forecast to post a net loss per share of €0.03 next year compared to a net loss per share of €0.16 last year. Buy Or Sell Opportunity • Jun 13
Now 22% undervalued Over the last 90 days, the stock has risen 32% to €13.40. The fair value is estimated to be €17.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.1% to €13.38. The fair value is estimated to be €17.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 16
Third quarter 2025 earnings released: EPS: €0.10 (vs €0.06 in 3Q 2024) Third quarter 2025 results: EPS: €0.10 (up from €0.06 in 3Q 2024). Revenue: €23.4m (down 18% from 3Q 2024). Net income: €1.41m (up 75% from 3Q 2024). Profit margin: 6.0% (up from 2.8% in 3Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 09
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €21.5m (down 20% from 2Q 2024). Net loss: €1.39m (loss widened 8.5% from 2Q 2024). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Entertainment industry in Italy. New Risk • Mar 07
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 Italian stocks, typically moving 8.9% 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 25
Now 21% undervalued Over the last 90 days, the stock has risen 53% to €14.30. The fair value is estimated to be €18.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Dec 05
Price target decreased by 25% to €16.33 Down from €21.67, the current price target is an average from 3 analysts. New target price is 65% above last closing price of €9.88. Stock is up 1.3% over the past year. The company is forecast to post earnings per share of €0.11 next year compared to a net loss per share of €0.16 last year. Reported Earnings • Nov 17
First quarter 2025 earnings released: €0.16 loss per share (vs €0.17 loss in 1Q 2024) First quarter 2025 results: €0.16 loss per share (improved from €0.17 loss in 1Q 2024). Revenue: €21.5m (up 6.3% from 1Q 2024). Net loss: €2.30m (loss narrowed 4.6% from 1Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Aankondiging • Sep 30
Digital Bros S.p.A., Annual General Meeting, Oct 28, 2024 Digital Bros S.p.A., Annual General Meeting, Oct 28, 2024, at 09:00 W. Europe Standard Time. Location: via tortona 37, milano Italy Reported Earnings • Sep 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: €0.16 loss per share (down from €0.68 profit in FY 2023). Revenue: €117.9m (flat on FY 2023). Net loss: €2.21m (down 123% from profit in FY 2023). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. New Risk • Jun 03
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 6.0% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 16
Third quarter 2024 earnings released: EPS: €0.06 (vs €0.26 in 3Q 2023) Third quarter 2024 results: EPS: €0.06 (down from €0.26 in 3Q 2023). Revenue: €28.7m (down 2.3% from 3Q 2023). Net income: €801.0k (down 78% from 3Q 2023). Profit margin: 2.8% (down from 12% in 3Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • May 07
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.6% to €10.60. The fair value is estimated to be €8.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 9.2% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 15
Second quarter 2024 earnings released: €0.09 loss per share (vs €0.58 profit in 2Q 2023) Second quarter 2024 results: €0.09 loss per share (down from €0.58 profit in 2Q 2023). Revenue: €26.9m (down 28% from 2Q 2023). Net loss: €1.28m (down 116% from profit in 2Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jan 28
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €1.05 to €0.841 per share. Revenue forecast steady at €127.6m. Net income forecast to grow 319% next year vs 135% growth forecast for Entertainment industry in Italy. Consensus price target down from €23.00 to €21.67. Share price was steady at €10.51 over the past week. Major Estimate Revision • Dec 21
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €134.8m to €128.1m. EPS estimate also fell from €1.33 per share to €1.05 per share. Net income forecast to grow 361% next year vs 131% growth forecast for Entertainment industry in Italy. Consensus price target down from €25.33 to €23.00. Share price rose 14% to €10.95 over the past week. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €10.75, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Entertainment 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 €9.30 per share. Reported Earnings • Nov 12
First quarter 2024 earnings released: €0.17 loss per share (vs €0.21 profit in 1Q 2023) First quarter 2024 results: €0.17 loss per share (down from €0.21 profit in 1Q 2023). Revenue: €20.2m (down 9.7% from 1Q 2023). Net loss: €2.41m (down 181% from profit in 1Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 14% per year. Major Estimate Revision • Oct 05
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €165.2m to €142.7m. EPS estimate fell from €2.08 to €1.49 per share. Net income forecast to grow 94% next year vs 72% growth forecast for Entertainment industry in Italy. Consensus price target of €27.50 unchanged from last update. Share price fell 9.0% to €10.88 over the past week. Reported Earnings • Sep 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: €0.68 (down from €2.00 in FY 2022). Revenue: €117.9m (down 11% from FY 2022). Net income: €9.68m (down 66% from FY 2022). Profit margin: 8.2% (down from 22% in FY 2022). Revenue missed analyst estimates by 9.7%. Earnings per share (EPS) also missed analyst estimates by 52%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €13.79, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Entertainment industry in Italy. Total loss to shareholders of 39% over the past three years. Price Target Changed • Jul 12
Price target decreased by 20% to €28.50 Down from €35.70, the current price target is an average from 3 analysts. New target price is 107% above last closing price of €13.80. Stock is down 48% over the past year. The company is forecast to post earnings per share of €1.96 for next year compared to €2.00 last year. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €14.92, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Entertainment industry in Italy. Total loss to shareholders of 26% over the past three years. Reported Earnings • May 14
Third quarter 2023 earnings released: EPS: €0.26 (vs €0.34 in 3Q 2022) Third quarter 2023 results: EPS: €0.26 (down from €0.34 in 3Q 2022). Revenue: €29.4m (up 6.4% from 3Q 2022). Net income: €3.62m (down 26% from 3Q 2022). Profit margin: 12% (down from 18% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 12
Second quarter 2023 earnings released: EPS: €0.58 (vs €0.46 in 2Q 2022) Second quarter 2023 results: EPS: €0.58 (up from €0.46 in 2Q 2022). Revenue: €37.4m (up 23% from 2Q 2022). Net income: €8.30m (up 27% from 2Q 2022). Profit margin: 22% (in line with 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 30% per year. Upcoming Dividend • Nov 28
Upcoming dividend of €0.18 per share Eligible shareholders must have bought the stock before 05 December 2022. Payment date: 07 December 2022. Payout ratio is a comfortable 9.4% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Italian dividend payers (4.8%). Lower than average of industry peers (1.8%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Sylvia Bartyan was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
First quarter 2023 earnings released: EPS: €0.21 (vs €0.29 in 1Q 2022) First quarter 2023 results: EPS: €0.21 (down from €0.29 in 1Q 2022). Revenue: €22.4m (down 10% from 1Q 2022). Net income: €3.00m (down 27% from 1Q 2022). Profit margin: 13% (down from 16% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 25
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: €2.00 (down from €2.25 in FY 2021). Revenue: €132.2m (down 11% from FY 2021). Net income: €28.5m (down 11% from FY 2021). Profit margin: 22% (in line with FY 2021). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 11%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Entertainment industry in Italy. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 15
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: €0.34 (up from €0.31 in 3Q 2021). Revenue: €27.6m (down 16% from 3Q 2021). Net income: €4.92m (up 11% from 3Q 2021). Profit margin: 18% (up from 13% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 36%. Over the next year, revenue is forecast to grow 30%, compared to a 13% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 57% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Sylvia Bartyan was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Mar 10
Second quarter 2022 earnings: EPS exceeds analyst expectations Second quarter 2022 results: EPS: €0.46 (down from €0.56 in 2Q 2021). Revenue: €30.4m (down 28% from 2Q 2021). Net income: €6.53m (down 18% from 2Q 2021). Profit margin: 22% (up from 19% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 36%. Over the next year, revenue is forecast to grow 22%, compared to a 13% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 65% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Nov 29
Upcoming dividend of €0.18 per share Eligible shareholders must have bought the stock before 06 December 2021. Payment date: 08 December 2021. Trailing yield: 0.5%. Lower than top quartile of Italian dividend payers (3.8%). Lower than average of industry peers (1.6%). Reported Earnings • Nov 17
First quarter 2022 earnings released: EPS €0.29 (vs €0.55 in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2022 results: Revenue: €24.9m (down 36% from 1Q 2021). Net income: €4.09m (down 48% from 1Q 2021). Profit margin: 16% (down from 20% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 66% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorated over the past week After last week's 26% share price decline to €33.42, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 25x in the Entertainment industry in Europe. Total returns to shareholders of 345% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €55.61 per share. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 24% share price gain to €35.84, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 26x in the Entertainment industry in Europe. Total returns to shareholders of 285% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €29.14 per share. Reported Earnings • Sep 30
Full year 2021 earnings released: EPS €2.25 (vs €1.05 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: €149.2m (up 12% from FY 2020). Net income: €32.0m (up 114% from FY 2020). Profit margin: 22% (up from 11% in FY 2020). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improved over the past week After last week's 17% share price gain to €28.80, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 27x in the Entertainment industry in Europe. Total returns to shareholders of 191% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improved over the past week After last week's 16% share price gain to €28.82, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 31x in the Entertainment industry in Europe. Total returns to shareholders of 193% over the past three years. Reported Earnings • May 16
Third quarter 2021 earnings released: EPS €0.32 (vs €0.31 in 3Q 2020) The company reported a mediocre third quarter result with weaker profit margins, although earnings were flat and revenues improved. Third quarter 2021 results: Revenue: €33.0m (up 7.7% from 3Q 2020). Net income: €4.43m (flat on 3Q 2020). Profit margin: 13% (down from 14% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 12
Consensus EPS estimates increase to €1.49 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from €143.3m to €147.3m. EPS estimate increased from €1.30 to €1.49 per share. Net income forecast to shrink 35% next year vs 21% growth forecast for Entertainment industry in Italy . Consensus price target of €28.50 unchanged from last update. Share price rose 2.2% to €23.84 over the past week. Major Estimate Revision • Mar 11
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from €1.13 to €1.33. No change was made to the revenue estimate which at the last update was €145.6m. Net income is expected to grow by 2.2% next year compared to 13% decline forecast for the Entertainment industry in Italy. The consensus price target increased from €26.50 to €28.50. Share price is up 18% to €22.80 over the past week. Is New 90 Day High Low • Mar 10
New 90-day high: €23.75 The company is up 39% from its price of €17.12 on 10 December 2020. The Italian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.20 per share. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improved over the past week After last week's 19% share price gain to €23.75, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 14.2x. This compares to an average P/E of 15x in the Entertainment industry in Italy. Total returns to shareholders over the past three years are 154%.