New Risk • Oct 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.03m (US$9.43m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€8.03m market cap, or US$9.43m). Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Shareholders have been diluted in the past year (22% increase in shares outstanding). Aankondiging • Sep 05
SG Company S.p.A. to Report First Half, 2025 Results on Sep 30, 2025 SG Company S.p.A. announced that they will report first half, 2025 results on Sep 30, 2025 Aankondiging • Jul 31
SG Company S.p.A. (BIT:SGC) signed a binding agreement to acquire 51% stake in Winning Srl for €0.99 million. SG Company S.p.A. (BIT:SGC) signed a binding agreement to acquire 51% stake in Winning Srl for €0.99 million on July 30, 2025. The agreed price, based on the normalized average EBITDA for the three-year period 2022-2024, is equal to €0.99 million to be paid in three annual installments. The transaction will be financed with own resources and a long-term loan provided by Credito Emiliano Spa.
For the period ending December 31, 2024, Winning Srl reported total revenue of €3.5 million, net income of €0.5 million and EBITDA of €0.72 million. Following the closing, Winning's board of directors will be expanded with the addition of Davide Verdesca, CEO of SG Company, as Chairman, and Francesco Merone as Managing Director for Administration and Finance. Winning's current management team is expected to remain in place for at least four to six years.
The expected completion of the transaction is September 16, 2025. New Risk • Jul 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 35% 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 Risk Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€8.83m market cap, or US$10.4m). New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Risk Market cap is less than US$10m (€6.49m market cap, or US$7.40m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Jan 22
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 5.7% 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 Market cap is less than US$10m (€6.87m market cap, or US$7.16m). Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Shareholders have been diluted in the past year (21% increase in shares outstanding). Reported Earnings • Oct 06
First half 2024 earnings released First half 2024 results: Revenue: €19.2m (up 58% from 1H 2023). Net loss: €331.8k (down €360.5k from profit in 1H 2023). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Media industry in Italy. New Risk • Jul 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 10% 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 Risks Share price has been highly volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$10m (€5.60m market cap, or US$6.09m). Minor Risks High level of debt (122% net debt to equity). Shareholders have been diluted in the past year (10% increase in shares outstanding). Aankondiging • Jul 12
SG Company S.p.A. (BIT:SGC) agreed to acquire 52.50% stake in KNOBS SRL from Smart Capital S.P.A. SG Company S.p.A. (BIT:SGC) agreed to acquire 52.50% stake in KNOBS SRL from Smart Capital S.P.A. on July 10, 2024. The expected completion of the transaction is July 29, 2024. Reported Earnings • Apr 02
Full year 2023 earnings released Full year 2023 results: Revenue: €30.7m (up 69% from FY 2022). Net income: €665.5k (up 250% from FY 2022). Profit margin: 2.2% (up from 1.0% in FY 2022). The increase in margin was driven by higher revenue. New Risk • Feb 20
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 7.4% 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 Interest payments are not well covered by earnings (0.06x net interest cover). Share price has been highly volatile over the past 3 months (7.4% average weekly change). High level of non-cash earnings (48% accrual ratio). Market cap is less than US$10m (€4.83m market cap, or US$5.22m). New Risk • Oct 05
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 48% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.06x net interest cover). Share price has been highly volatile over the past 3 months (7.5% average weekly change). High level of non-cash earnings (48% accrual ratio). Market cap is less than US$10m (€5.62m market cap, or US$5.91m). Aankondiging • May 10
SG Company S.p.A. (BIT:SGC) signed a binding agreement to acquire 60.92% stake in Gruppo Fma Srl for €1 million. SG Company S.p.A. (BIT:SGC) signed a binding agreement to acquire 60.92% stake in Gruppo Fma Srl for €1 million on May 9, 2023. The transaction is expected to close by May 31, 2023. Price Target Changed • Apr 06
Price target increased by 22% to €0.82 Up from €0.67, the current price target is provided by 1 analyst. New target price is 161% above last closing price of €0.31. Stock is up 14% over the past year. Board Change • Nov 16
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, none were independent directors. The company's board is composed of: 5 new directors. 2 experienced directors. 2 highly experienced directors. 1 independent director (5 non-independent directors). President of the Board & CEO Davide Ferruccio Verdesca is the most experienced director on the board, commencing their role in 2000. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 04
First half 2022 earnings released: EPS: €0 (vs €0.023 loss in 1H 2021) First half 2022 results: EPS: €0 (improved from €0.023 loss in 1H 2021). Revenue: €8.29m (up 106% from 1H 2021). Net loss: €104.4k (loss narrowed 81% from 1H 2021). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Media industry in Italy. 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, none were independent directors. The company's board is composed of: 5 new directors. 2 experienced directors. 2 highly experienced directors. 1 independent director (5 non-independent directors). President of the Board & CEO Davide Ferruccio Verdesca is the most experienced director on the board, commencing their role in 2000. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 03
Full year 2021 earnings released Full year 2021 results: Revenue: €14.0m (up 39% from FY 2020). Net loss: €120.1k (loss narrowed 96% from FY 2020). Is New 90 Day High Low • Dec 16
New 90-day low: €0.40 The company is down 55% from its price of €0.89 on 16 September 2020. The Italian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 20
New 90-day low: €0.44 The company is down 52% from its price of €0.90 on 21 August 2020. The Italian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 04
New 90-day low: €0.70 The company is down 29% from its price of €1.00 on 05 August 2020. The Italian market is down 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 8.0% over the same period.