Board Change • May 21
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: 2 independent directors. 8 non-independent directors. Director Jamel Cahmmam was the last director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Aankondiging • May 07
BH Leasing Société Anonyme announces Annual dividend, payable on May 25, 2026 BH Leasing Société Anonyme announced Annual dividend of TND 0.1000 per share payable on May 25, 2026, ex-date on May 21, 2026 and record date on May 22, 2026. Aankondiging • Mar 11
BH Leasing Société Anonyme, Annual General Meeting, Apr 15, 2026 BH Leasing Société Anonyme, Annual General Meeting, Apr 15, 2026, at 11:00 W. Central Africa Standard Time. New Risk • Oct 13
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: د.ت15m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$10m (د.ت26.7m market cap, or US$9.07m). Minor Risks Profit margins are more than 30% lower than last year (15% net profit margin). Revenue is less than US$5m (د.ت15m revenue, or US$5.0m). Board Change • Oct 10
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (8 non-independent directors). Director Mohamed Mabrouk was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Sep 19
Price target decreased by 29% to د.ت2.91 Down from د.ت4.12, the current price target is provided by 1 analyst. New target price is 24% below last closing price of د.ت3.81. Stock is down 6.8% over the past year. The company posted earnings per share of د.ت0.56 last year. Board Change • Sep 19
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (8 non-independent directors). Director Mohamed Mabrouk was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Sep 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 14% Last year net profit margin: 30% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (14% net profit margin). Market cap is less than US$100m (د.ت30.5m market cap, or US$10.5m). New Risk • Aug 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: د.ت28.0m (US$9.72m) 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$10m (د.ت28.0m market cap, or US$9.72m). Board Change • Jul 01
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (8 non-independent directors). Director Mohamed Mabrouk was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Apr 22
Price target increased by 32% to د.ت4.23 Up from د.ت3.21, the current price target is provided by 1 analyst. New target price is 12% below last closing price of د.ت4.80. Stock is up 76% over the past year. The company is forecast to post earnings per share of د.ت0.63 for next year compared to د.ت0.56 last year. Board Change • Apr 22
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (8 non-independent directors). Director Mohamed Mabrouk was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Mar 17
BH Leasing Société Anonyme, Annual General Meeting, Apr 17, 2025 BH Leasing Société Anonyme, Annual General Meeting, Apr 17, 2025, at 11:00 W. Central Africa Standard Time. Location: rue zohra faiza, immeuble bh assurance centre urbain nord, tunis mahrajene Tunisia Board Change • Jan 03
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (8 non-independent directors). Director Mohamed Mabrouk was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Dec 17
Price target decreased by 9.7% to د.ت3.07 Down from د.ت3.40, the current price target is provided by 1 analyst. New target price is 21% below last closing price of د.ت3.90. Stock is up 18% over the past year. The company is forecast to post earnings per share of د.ت0.44 for next year compared to د.ت0.45 last year. Board Change • Dec 06
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 2 independent directors (8 non-independent directors). Director Mohamed Mabrouk was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Major Estimate Revision • Sep 24
Consensus revenue estimates increase by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from د.ت15.4m to د.ت17.6m. EPS estimate unchanged from د.ت0.47 at last update. Real Estate industry in Tunisia expected to see average net income growth of 5.3% next year. Consensus price target up from د.ت2.21 to د.ت3.31. Share price was steady at د.ت4.07 over the past week. Price Target Changed • Sep 23
Price target increased by 50% to د.ت3.31 Up from د.ت2.20, the current price target is provided by 1 analyst. New target price is 19% below last closing price of د.ت4.09. Stock is up 41% over the past year. The company is forecast to post earnings per share of د.ت0.47 for next year compared to د.ت0.45 last year. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to د.ت3.37, the stock trades at a trailing P/E ratio of 7.5x. Average forward P/E is 8x in the Real Estate industry in Africa. Total returns to shareholders of 105% over the past three years. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to د.ت2.97, the stock trades at a trailing P/E ratio of 6.6x. Average forward P/E is 9x in the Real Estate industry in Africa. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to د.ت2.51, the stock trades at a trailing P/E ratio of 5.6x. Average forward P/E is 10x in the Real Estate industry in Africa. Total returns to shareholders of 55% over the past three years. New Risk • Mar 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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 Risks Debt is not well covered by operating cash flow (0.04% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$10m (د.ت22.6m market cap, or US$7.24m). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Revenue is less than US$5m (د.ت12m revenue, or US$4.0m). Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to د.ت4.00, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Real Estate industry in Africa. Total returns to shareholders of 199% over the past three years. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to د.ت3.26, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Real Estate industry in Africa. Total returns to shareholders of 141% over the past three years. New Risk • Sep 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 13% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Debt is not well covered by operating cash flow (0.04% operating cash flow to total debt). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Market cap is less than US$10m (د.ت20.7m market cap, or US$6.60m). Minor Risk Revenue is less than US$5m (د.ت12m revenue, or US$3.9m). Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to د.ت3.03, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 5x in the Real Estate industry in Africa. Total returns to shareholders of 105% over the past three years. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to د.ت2.78, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 5x in the Real Estate industry in Africa. Total returns to shareholders of 88% over the past three years. Price Target Changed • Mar 22
Price target increased by 14% to د.ت1.84 Up from د.ت1.61, the current price target is provided by 1 analyst. New target price is 26% below last closing price of د.ت2.48. Stock is up 19% over the past year. The company posted earnings per share of د.ت0.16 last year. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment deteriorated over the past week After last week's 20% share price decline to د.ت1.97, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 9x in the Real Estate industry in Africa. Total returns to shareholders of 6.5% over the past three years. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 18% share price gain to د.ت2.15, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 6x in the Real Estate industry in Africa. Total returns to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 18% share price gain to د.ت1.74, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 6x in the Real Estate industry in Africa. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to د.ت1.59, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 4x in the Real Estate industry in Africa. Total loss to shareholders of 1.9% over the past three years. Price Target Changed • Aug 22
Price target increased to د.ت1.57 Up from د.ت1.44, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.ت1.63. Stock is up 8.7% over the past year. The company is forecast to post earnings per share of د.ت0.18 for next year compared to د.ت0.16 last year. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improved over the past week After last week's 16% share price gain to د.ت1.70, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 4x in the Real Estate industry in Africa. Total returns to shareholders of 6.3% over the past three years. Price Target Changed • May 18
Price target increased to د.ت1.57 Up from د.ت1.44, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of د.ت1.60. Stock is up 1.3% over the past year. The company is forecast to post earnings per share of د.ت0.18 for next year compared to د.ت0.16 last year. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 18% share price gain to د.ت1.97, the stock trades at a forward P/E ratio of 81x. Average forward P/E is 6x in the Real Estate industry in Africa. Total loss to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improved over the past week After last week's 16% share price gain to د.ت1.74, the stock trades at a forward P/E ratio of 72x. Average forward P/E is 6x in the Real Estate industry in Africa. Total loss to shareholders of 43% over the past three years. Price Target Changed • Aug 14
Price target increased to د.ت1.40 Up from د.ت1.24, the current price target is provided by 1 analyst. New target price is 6.7% below last closing price of د.ت1.50. Stock is up 47% over the past year. Breakeven Date Change • Jul 26
Forecast to breakeven in 2021 The analyst covering BH Leasing Société Anonyme expects the company to break even for the first time. New forecast suggests the company will make a profit of د.ت10.0k in 2021. Earnings growth of 149% is required to achieve expected profit on schedule. Is New 90 Day High Low • Feb 08
New 90-day high: د.ت1.45 The company is up 12% from its price of د.ت1.29 on 09 November 2020. The Tunisian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Real Estate industry, which is up 21% over the same period. Is New 90 Day High Low • Jan 22
New 90-day high: د.ت1.38 The company is up 5.0% from its price of د.ت1.31 on 23 October 2020. The Tunisian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Real Estate industry, which is up 19% over the same period. Price Target Changed • Nov 20
Price target lowered to د.ت1.21 Down from د.ت1.63, the current price target is provided by 1 analyst. The new target price is close to the current share price of د.ت1.23. As of last close, the stock is down 34% over the past year. 
