Announcement • May 19
Lingotes Especiales, S.A., Annual General Meeting, Jun 18, 2026 Lingotes Especiales, S.A., Annual General Meeting, Jun 18, 2026. Location: auditorio 2, feria de valladolid, avda de ramon pradera 3, valladolid., Spain New Risk • Mar 08
New major risk - Revenue and earnings growth Earnings have declined by 8.0% 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 (1.6x net interest cover). Share price has been highly volatile over the past 3 months (6.8% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 160% Paying a dividend despite having no free cash flows. Earnings have declined by 8.0% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (€52.5m market cap, or US$60.9m). New Risk • Feb 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Interest payments are not well covered by earnings (1.6x net interest cover). Share price has been highly volatile over the past 3 months (7.1% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 160% Paying a dividend despite having no free cash flows. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (€54.5m market cap, or US$64.2m). 