Board Change • Jun 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. 3 highly experienced directors. Director Begona Orgambide Garcia was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 11
First quarter 2026 earnings released: €0.08 loss per share (vs €0.045 loss in 1Q 2025) First quarter 2026 results: €0.08 loss per share (further deteriorated from €0.045 loss in 1Q 2025). Revenue: €588.7m (down 5.1% from 1Q 2025). Net loss: €17.2m (loss widened 76% from 1Q 2025). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 03
AmRest Holdings SE, Annual General Meeting, May 07, 2026 AmRest Holdings SE, Annual General Meeting, May 07, 2026. Location: paseo de la castellana 163, 10th floor, madrid Spain Aankondiging • Mar 30
AmRest Holdings SE to Report Q1, 2026 Results on May 07, 2026 AmRest Holdings SE announced that they will report Q1, 2026 results on May 07, 2026 New Risk • Mar 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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 (1.5x net interest cover). Minor Risks Dividend is not well covered by earnings (94% payout ratio). Large one-off items impacting financial results. Reported Earnings • Mar 02
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: €0.075 (up from €0.039 in FY 2024). Revenue: €2.56b (flat on FY 2024). Net income: €16.1m (up 89% from FY 2024). Profit margin: 0.6% (up from 0.3% in FY 2024). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Hospitality industry in Europe. 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 14% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Feb 19
Consensus EPS estimates fall by 45% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.145 to €0.08 per share. Revenue forecast steady at €2.59b. Net income forecast to grow 26% next year vs 9.4% growth forecast for Hospitality industry in Poland. Consensus price target down from zł16.58 to zł15.58. Share price fell 2.6% to zł12.90 over the past week. Aankondiging • Jan 13
AmRest Holdings SE to Report Fiscal Year 2025 Results on Feb 26, 2026 AmRest Holdings SE announced that they will report fiscal year 2025 results on Feb 26, 2026 Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: €0.07 (vs €0.12 in 3Q 2024) Third quarter 2025 results: EPS: €0.07 (down from €0.12 in 3Q 2024). Revenue: €660.6m (flat on 3Q 2024). Net income: €15.2m (down 42% from 3Q 2024). Profit margin: 2.3% (down from 4.0% in 3Q 2024). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. New Risk • Nov 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 (1.7x net interest cover). Minor Risks Paying a dividend despite being loss-making. Large one-off items impacting financial results. Major Estimate Revision • Sep 11
Consensus EPS estimates increase by 37% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from €0.16 to €0.22. Revenue forecast steady at €2.73b. Net income forecast to grow 124% next year vs 23% growth forecast for Hospitality industry in Poland. Consensus price target of zł18.16 unchanged from last update. Share price fell 2.8% to zł14.56 over the past week. Reported Earnings • Sep 05
Second quarter 2025 earnings released: EPS: €0.034 (vs €0.11 loss in 2Q 2024) Second quarter 2025 results: EPS: €0.034 (up from €0.11 loss in 2Q 2024). Revenue: €641.7m (flat on 2Q 2024). Net income: €7.60m (up €32.2m from 2Q 2024). Profit margin: 1.2% (up from net loss in 2Q 2024). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Price Target Changed • May 27
Price target decreased by 8.1% to zł21.02 Down from zł22.88, the current price target is an average from 5 analysts. New target price is 27% above last closing price of zł16.52. Stock is down 36% over the past year. The company is forecast to post earnings per share of €0.22 for next year compared to €0.039 last year. Major Estimate Revision • May 25
Consensus EPS estimates fall by 40% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €2.77b to €2.73b. EPS estimate also fell from €0.368 per share to €0.22 per share. Net income forecast to grow 4,982% next year vs 21% growth forecast for Hospitality industry in Poland. Consensus price target down from zł22.88 to zł21.76. Share price was steady at zł16.24 over the past week. Major Estimate Revision • May 14
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from €2.75b to €2.79b. EPS estimate increased from €0.336 to €0.372 per share. Net income forecast to grow 5,907% next year vs 20% growth forecast for Hospitality industry in Poland. Consensus price target of zł22.88 unchanged from last update. Share price fell 9.0% to zł16.10 over the past week. Reported Earnings • May 09
First quarter 2025 earnings released: €0.05 loss per share (vs €0.013 loss in 1Q 2024) First quarter 2025 results: €0.05 loss per share (further deteriorated from €0.013 loss in 1Q 2024). Revenue: €620.2m (up 4.7% from 1Q 2024). Net loss: €9.80m (loss widened 250% from 1Q 2024). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: €0.04 (vs €0.17 in FY 2023) Full year 2024 results: EPS: €0.04 (down from €0.17 in FY 2023). Revenue: €2.56b (up 5.1% from FY 2023). Net income: €8.50m (down 78% from FY 2023). Profit margin: 0.3% (down from 1.6% in FY 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Price Target Changed • Jan 31
Price target decreased by 11% to zł21.98 Down from zł24.72, the current price target is an average from 4 analysts. New target price is 28% above last closing price of zł17.16. Stock is down 36% over the past year. The company is forecast to post earnings per share of €0 for next year compared to €0.18 last year. Aankondiging • Jan 07
AmRest Holdings SE to Report Fiscal Year 2024 Results on Feb 27, 2025 AmRest Holdings SE announced that they will report fiscal year 2024 results on Feb 27, 2025 Price Target Changed • Dec 06
Price target decreased by 8.4% to zł22.64 Down from zł24.72, the current price target is an average from 5 analysts. New target price is 8.3% above last closing price of zł20.90. Stock is down 16% over the past year. The company is forecast to post earnings per share of €0 for next year compared to €0.18 last year. Aankondiging • Sep 10
AmRest Holdings SE to Report Q3, 2024 Results on Nov 14, 2024 AmRest Holdings SE announced that they will report Q3, 2024 results at 8:30 AM, Central European Standard Time on Nov 14, 2024 Reported Earnings • May 10
First quarter 2024 earnings released: €0.01 loss per share (vs €0.008 profit in 1Q 2023) First quarter 2024 results: €0.01 loss per share (down from €0.008 profit in 1Q 2023). Revenue: €592.6m (down 4.6% from 1Q 2023). Net loss: €2.80m (down 265% from profit in 1Q 2023). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł26.85, the stock trades at a trailing P/E ratio of 35.4x. Average forward P/E is 14x in the Hospitality industry in Poland. Total loss to shareholders of 13% over the past three years. Aankondiging • Apr 07
AmRest Holdings SE, Annual General Meeting, May 09, 2024 AmRest Holdings SE, Annual General Meeting, May 09, 2024, at 10:00 Central European Standard Time. Location: Paseo de la Castellana, number 163, 28046 Madrid Spain Agenda: To Review and approval of the consolidated statement of non-financial information for financial year ended 31 December 2023; to Approval of the management and performance of the Board of Directors during financial year ended 31 December 2023; to Approval of the Proposed Allocation of the Profits/Losses of the Company for financial year ended 31 December 2023; to Re-election of the statutory auditor; and to consider other matters. Aankondiging • Jan 19
AmRest Holdings SE to Report Fiscal Year 2023 Results on Feb 28, 2024 AmRest Holdings SE announced that they will report fiscal year 2023 results on Feb 28, 2024 Price Target Changed • Nov 24
Price target decreased by 9.0% to zł28.70 Down from zł31.53, the current price target is an average from 3 analysts. New target price is 14% above last closing price of zł25.10. Stock is up 27% over the past year. The company is forecast to post earnings per share of €0.0099 for next year compared to €0.0059 last year. New Risk • Nov 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 63% 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 (2.8x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Aankondiging • Nov 04
AmRest Holdings SE to Report Q3, 2023 Results on Nov 14, 2023 AmRest Holdings SE announced that they will report Q3, 2023 results on Nov 14, 2023 Price Target Changed • Sep 20
Price target increased by 8.5% to zł29.65 Up from zł27.33, the current price target is an average from 4 analysts. New target price is 7.4% above last closing price of zł27.60. Stock is up 47% over the past year. The company is forecast to post earnings per share of €0.0099 for next year compared to €0.0059 last year. New Risk • Sep 19
New major risk - Revenue and earnings growth Earnings have declined by 11% 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 Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings have declined by 11% per year over the past 5 years. Price Target Changed • Sep 04
Price target decreased by 14% to zł27.33 Down from zł31.76, the current price target is an average from 4 analysts. New target price is 5.3% below last closing price of zł28.85. Stock is up 45% over the past year. The company is forecast to post earnings per share of €0.0099 for next year compared to €0.0059 last year. Aankondiging • Aug 03
AmRest Holdings SE to Report First Half, 2023 Results on Aug 31, 2023 AmRest Holdings SE announced that they will report first half, 2023 results on Aug 31, 2023 Major Estimate Revision • Jul 19
Consensus EPS estimates fall by 96% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.2269 to €0.0099 per share. Revenue forecast steady at €2.51b. Net income forecast to grow 2,482% next year vs 18% growth forecast for Hospitality industry in Poland. Consensus price target down from zł31.76 to zł27.33. Share price rose 8.1% to zł26.60 over the past week. Price Target Changed • Jun 01
Price target increased by 8.0% to zł25.33 Up from zł23.45, the current price target is an average from 4 analysts. New target price is 14% above last closing price of zł22.20. Stock is up 21% over the past year. The company is forecast to post earnings per share of €0.22 for next year compared to €0.0059 last year. Aankondiging • May 17
Smart Service Ltd. completed the acquisition of KFC restaurant business in Russia from AmRest Holdings SE (WSE:EAT). Smart Service Ltd. signed new sale and purchase agreement to acquire KFC restaurant business in Russia from AmRest Holdings SE (WSE:EAT) for €100 million on February 25, 2023. The sale and purchase agreement is subject to the approval by the anti-trust agency of Russia and to other regulatory approvals applicable in Russia.Smart Service Ltd. completed the acquisition of KFC restaurant business in Russia from AmRest Holdings SE (WSE:EAT) on May 16, 2023. Reported Earnings • May 14
First quarter 2023 earnings released: EPS: €0.01 (vs €0 in 1Q 2022) First quarter 2023 results: EPS: €0.01 (up from €0 in 1Q 2022). Revenue: €621.2m (up 23% from 1Q 2022). Net income: €1.70m (up €1.60m from 1Q 2022). Profit margin: 0.3% (up from 0% in 1Q 2022). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • May 05
AmRest Holdings SE to Report Q1, 2023 Results on May 11, 2023 AmRest Holdings SE announced that they will report Q1, 2023 results on May 11, 2023 Price Target Changed • Mar 30
Price target decreased by 7.7% to zł25.75 Down from zł27.90, the current price target is an average from 4 analysts. New target price is 37% above last closing price of zł18.76. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of €0.22 for next year compared to €0.0059 last year. Reported Earnings • Mar 06
Full year 2022 earnings released: EPS: €0.01 (vs €0.15 in FY 2021) Full year 2022 results: EPS: €0.01 (down from €0.15 in FY 2021). Revenue: €2.42b (up 26% from FY 2021). Net income: €1.38m (down 96% from FY 2021). Profit margin: 0.1% (down from 1.7% in FY 2021). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Hospitality industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent External Director Monica Diaz was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 10
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €658.2m (up 23% from 3Q 2021). Net income: €34.2m (up 29% from 3Q 2021). Profit margin: 5.2% (up from 5.0% in 3Q 2021). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Europe. Price Target Changed • Sep 09
Price target decreased to zł26.15 Down from zł29.19, the current price target is an average from 4 analysts. New target price is 27% above last closing price of zł20.60. Stock is down 32% over the past year. The company is forecast to post earnings per share of €0.12 for next year compared to €0.15 last year. Reported Earnings • Sep 04
Second quarter 2022 earnings released: €0.16 loss per share (vs €0.099 profit in 2Q 2021) Second quarter 2022 results: €0.16 loss per share (down from €0.099 profit in 2Q 2021). Revenue: €605.7m (up 31% from 2Q 2021). Net loss: €35.6m (down 263% from profit in 2Q 2021). Over the next year, revenue is expected to shrink by 1.7% compared to a 35% growth forecast for the Hospitality industry in Poland. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Independent External Director Monica Diaz was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 14
First quarter 2022 earnings: Revenues miss analyst expectations First quarter 2022 results: Revenue: €507.0m (up 33% from 1Q 2021). Net income: €100.0k (up €20.0m from 1Q 2021). Profit margin: 0% (up from net loss in 1Q 2021). Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 6.8%, compared to a 35% growth forecast for the industry in Poland. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 27
Price target decreased to zł29.19 Down from zł34.60, the current price target is an average from 4 analysts. New target price is 58% above last closing price of zł18.48. Stock is down 42% over the past year. The company is forecast to post earnings per share of €0.19 for next year compared to €0.15 last year. Major Estimate Revision • Mar 30
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.33 to €0.25. Revenue forecast unchanged from €2.17b at last update. Net income forecast to grow 97% next year vs 41% growth forecast for Hospitality industry in Poland. Consensus price target of zł31.24 unchanged from last update. Share price rose 6.2% to zł20.70 over the past week. Price Target Changed • Mar 29
Price target decreased to zł31.24 Down from zł34.60, the current price target is an average from 3 analysts. New target price is 49% above last closing price of zł21.02. Stock is down 36% over the past year. The company is forecast to post earnings per share of €0.25 for next year compared to €0.15 last year. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł19.35, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Hospitality industry in Europe. Total loss to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at zł22.91 per share. Reported Earnings • Mar 04
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €0.15 (up from €0.83 loss in FY 2020). Revenue: €1.92b (up 26% from FY 2020). Net income: €32.9m (up €214.9m from FY 2020). Profit margin: 1.7% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 33%. Over the next year, revenue is forecast to grow 12%, compared to a 46% growth forecast for the restaurants industry in Poland. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Mar 02
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €2.02b to €2.30b. EPS estimate unchanged from €0.34 at last update. Hospitality industry in Poland expected to see average net income growth of 52% next year. Consensus price target of zł34.13 unchanged from last update. Share price fell 12% to zł21.06 over the past week. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS €0.12 (vs €0.01 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €533.7m (up 21% from 3Q 2020). Net income: €26.6m (up €24.5m from 3Q 2020). Profit margin: 5.0% (up from 0.5% in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Price Target Changed • Oct 03
Price target increased to zł34.00 Up from zł30.03, the current price target is an average from 5 analysts. New target price is 13% above last closing price of zł30.02. Stock is up 59% over the past year. Price Target Changed • Sep 30
Price target increased to zł34.00 Up from zł30.03, the current price target is an average from 5 analysts. New target price is 12% above last closing price of zł30.38. Stock is up 65% over the past year. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS €0.14 (vs €0.54 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €464.3m (up 71% from 2Q 2020). Net income: €21.8m (up €140.9m from 2Q 2020). Profit margin: 4.7% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 11
Price target decreased to zł30.03 Down from zł35.16, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of zł28.72. Stock is up 49% over the past year. Executive Departure • Jul 01
CEO & Member of Management Board Mark Chandler has left the company On the 30th of June, Mark Chandler was replaced as CEO by Luis Comas after 2.2 years in the role. We don't have any record of a personal shareholding under Mark's name. Mark is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.00 years. Under Mark's leadership, the company delivered a total shareholder return of -30%. 
