New Risk • Jul 10
New minor risk - Negative shareholders equity The company has negative equity. Total equity: -€1.2m This is considered a minor risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. It should be noted that some of the negative equity could be due to large buybacks of stock, which is not as much of a risk as a company with overwhelming debt, but likewise is not sustainable in the long-term. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Market cap is less than US$10m (€7.09m market cap, or US$8.11m). Minor Risks Negative equity (-€1.2m). Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Jul 10
Full year 2026 earnings released: €0.063 loss per share (vs €0.12 loss in FY 2025) Full year 2026 results: €0.063 loss per share (improved from €0.12 loss in FY 2025). Revenue: €10.4m (down 5.6% from FY 2025). Net loss: €4.62m (loss narrowed 47% from FY 2025). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Jul 09
Avenir Telecom S.A., Annual General Meeting, Aug 13, 2026 Avenir Telecom S.A., Annual General Meeting, Aug 13, 2026. Location: 208 boulevard de plombieres les rizeries, marseille France