Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €1.73, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 19x in the IT industry in Italy. Total returns to shareholders of 24% over the past three years. Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: €0.28 (vs €0.23 in FY 2022) Full year 2023 results: EPS: €0.28 (up from €0.23 in FY 2022). Revenue: €195.0m (up 9.3% from FY 2022). Net income: €13.1m (up 14% from FY 2022). Profit margin: 6.7% (up from 6.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 5 highly experienced directors. Chairman of Statutory Auditors Dora Savino was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Aankondiging • Dec 12
Exprivia S.p.A. (BIT:XPR) Launches Binding Offer to acquire 85% stake in Balance Spa. Exprivia S.p.A. (BIT:XPR) Launches Binding Offer to acquire 85% stake in Balance Spa on December 11, 2023. The transaction is expected to complete at the end of February 2024. Price Target Changed • Aug 07
Price target decreased by 20% to €1.60 Down from €2.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €1.58. Stock is down 6.3% over the past year. The company is forecast to post earnings per share of €0.24 for next year compared to €0.23 last year. Reported Earnings • Aug 07
First half 2023 earnings released: EPS: €0.12 (vs €0.11 in 1H 2022) First half 2023 results: EPS: €0.12 (up from €0.11 in 1H 2022). Revenue: €94.6m (up 10% from 1H 2022). Net income: €5.60m (up 5.5% from 1H 2022). Profit margin: 5.9% (down from 6.2% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the IT industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 123 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €1.58, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 18x in the IT industry in Italy. Total returns to shareholders of 136% over the past three years. Reported Earnings • Mar 18
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: €0.23 (up from €0.21 in FY 2021). Revenue: €183.7m (up 3.1% from FY 2021). Net income: €11.5m (up 13% from FY 2021). Profit margin: 6.3% (up from 5.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 4.0%. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, while revenues in the IT industry in Italy are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 119 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: €0.055 (vs €0.053 in 3Q 2021) Third quarter 2022 results: EPS: €0.055 (up from €0.053 in 3Q 2021). Revenue: €45.3m (up 14% from 3Q 2021). Net income: €2.85m (up 13% from 3Q 2021). Profit margin: 6.3% (in line with 3Q 2021). Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the IT industry in Italy. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Price Target Changed • Nov 16
Price target decreased to €2.00 Down from €2.40, the current price target is provided by 1 analyst. New target price is 25% above last closing price of €1.60. Stock is down 38% over the past year. The company is forecast to post earnings per share of €0.22 for next year compared to €0.21 last year. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €1.33, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 22x in the IT industry in Italy. Total returns to shareholders of 57% over the past three years. Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: €0.056 (vs €0.059 in 2Q 2021) Second quarter 2022 results: EPS: €0.056 (down from €0.059 in 2Q 2021). Revenue: €44.9m (up 7.7% from 2Q 2021). Net income: €2.81m (flat on 2Q 2021). Profit margin: 6.3% (down from 6.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.4% compared to a 7.6% decline forecast for the industry in Italy. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €1.61, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 18x in the Software industry in Italy. Total returns to shareholders of 59% over the past three years. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: €0.053 (up from €0.035 in 1Q 2021). Revenue: €43.8m (up 9.1% from 1Q 2021). Net income: €2.50m (up 51% from 1Q 2021). Profit margin: 5.7% (up from 4.1% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Over the next year, revenue is forecast to grow 7.5%, compared to a 54% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 02
Upcoming dividend of €0.048 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Trailing yield: 2.7%. Lower than top quartile of Italian dividend payers (4.7%). Higher than average of industry peers (1.5%). Price Target Changed • Apr 27
Price target increased to €2.60 Up from €1.60, the current price target is provided by 1 analyst. New target price is 53% above last closing price of €1.70. Stock is up 104% over the past year. The company is forecast to post earnings per share of €0.25 for next year compared to €0.21 last year. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improved over the past week After last week's 26% share price gain to €2.03, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 27x in the Software industry in Italy. Total returns to shareholders of 61% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €1.54, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 26x in the Software industry in Italy. Total returns to shareholders of 21% over the past three years. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS €0.053 (vs €0.029 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €40.3m (up 5.2% from 3Q 2020). Net income: €2.52m (up 73% from 3Q 2020). Profit margin: 6.3% (up from 3.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year whereas the company’s share price has increased by 39% per year. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 18% share price gain to €2.24, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 26x in the Software industry in Italy. Total returns to shareholders of 152% over the past three years. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 16% share price gain to €1.75, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 31x in the Software industry in Italy. Total returns to shareholders of 54% over the past three years. Reported Earnings • Aug 10
Second quarter 2021 earnings released: EPS €0.059 (vs €0.042 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €44.5m (up 2.5% from 2Q 2020). Net income: €2.81m (up 40% from 2Q 2020). Profit margin: 6.3% (up from 4.6% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 15% share price gain to €1.53, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 24x in the Software industry in Italy. Total returns to shareholders of 23% 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 30% share price gain to €1.57, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 23x in the Software industry in Italy. Total returns to shareholders of 25% over the past three years. Is New 90 Day High Low • Feb 24
New 90-day high: €0.86 The company is up 7.0% from its price of €0.80 on 26 November 2020. The Italian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Software industry, which is up 26% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: €0.84 The company is up 10.0% from its price of €0.77 on 25 August 2020. The Italian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 2.0% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: €0.62 The company is down 13% from its price of €0.71 on 17 July 2020. The Italian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is flat over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: €0.66 The company is down 22% from its price of €0.84 on 26 June 2020. The Italian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is flat over the same period.