Announcement • Mar 27
Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria, Annual General Meeting, Apr 29, 2026 Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria, Annual General Meeting, Apr 29, 2026. Location: held remotely, Argentina Board Change • Dec 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 08
Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria, Annual General Meeting, Apr 30, 2025 Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria, Annual General Meeting, Apr 30, 2025. Location: held remotely via microsoft teams, Argentina Board Change • Dec 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. New Risk • Nov 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Earnings have declined by 33% per year over the past 5 years. Reported Earnings • Nov 12
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: AR$420.5b (up 159% from 3Q 2023). Net loss: AR$30.0b (loss widened 349% from 3Q 2023). Reported Earnings • Aug 17
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: AR$334.6b (up 53% from 2Q 2023). Net loss: AR$9.44b (down AR$9.70b from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 175 percentage points per year, which is a significant difference in performance. New Risk • May 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 47% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (2.9% increase in shares outstanding). Reported Earnings • Mar 22
Full year 2023 earnings released: AR$1,028 loss per share (vs AR$65.62 profit in FY 2022) Full year 2023 results: AR$1,028 loss per share (down from AR$65.62 profit in FY 2022). Revenue: AR$1.15t (up 252% from FY 2022). Net loss: AR$157.3b (down AR$167.2b from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 215 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to AR$1,146, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 9x in the Consumer Durables industry in South America. Total returns to shareholders of 858% over the past three years. New Risk • Sep 10
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: 1.9% Last year net profit margin: 3.1% 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 Risk High level of non-cash earnings (33% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.9% net profit margin). New Risk • Aug 24
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risk Dividend is not well covered by cash flows (371% cash payout ratio). Buying Opportunity • Jul 27
Now 22% undervalued Over the last 90 days, the stock is up 73%. The fair value is estimated to be AR$1,242, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Earnings per share has grown by 22%. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 22% share price gain to AR$472, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 9x in the Consumer Durables industry in South America. Total returns to shareholders of 742% over the past three years. Announcement • Nov 16
Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria (BASE:MIRG) made an offer to acquire Outokumpu Fortinox S.A. from Outokumpu Holding Nederland B.V. and Outokumpu Distribution Benelux BV for $7 million. Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria (BASE:MIRG) made an offer to acquire Outokumpu Fortinox S.A. from Outokumpu Holding Nederland B.V. and Outokumpu Distribution Benelux BV for $7 million on November 14, 2022. The consideration will be paid as; an initial payment equivalent to approximately 55% of the total price and 6 semi-annual installments for the balance, the last one due in November 2025. The transaction is subject to the fulfillment of certain customery conditions and expected to occur not later than December 24, 2022. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Jul 04
Upcoming dividend of AR$2.78 per share Eligible shareholders must have bought the stock before 11 July 2022. Payment date: 13 July 2022. Payout ratio is a comfortable 6.3% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of Argentinean dividend payers (5.6%). In line with average of industry peers (10%). Upcoming Dividend • Jun 06
Upcoming dividend of AR$2.78 per share Eligible shareholders must have bought the stock before 13 June 2022. Payment date: 15 June 2022. Trailing yield: 4.2%. Lower than top quartile of Argentinean dividend payers (5.2%). Lower than average of industry peers (9.4%). Reported Earnings • May 22
First quarter 2022 earnings released First quarter 2022 results: Revenue: AR$48.1b (up 62% from 1Q 2021). Net income: AR$1.15b (down 9.6% from 1Q 2021). Profit margin: 2.4% (down from 4.3% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has increased by 112% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment improved over the past week After last week's 900% share price gain to AR$3,343, the stock trades at a trailing P/E ratio of 62.8x. Average forward P/E is 6x in the Consumer Durables industry in South America. Total returns to shareholders of 9,209% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improved over the past week After last week's 853% share price gain to AR$3,423, the stock trades at a trailing P/E ratio of 64.3x. Average forward P/E is 6x in the Consumer Durables industry in South America. Total returns to shareholders of 8,804% over the past three years. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improved over the past week After last week's 857% share price gain to AR$3,399, the stock trades at a trailing P/E ratio of 63.8x. Average forward P/E is 7x in the Consumer Durables industry in South America. Total returns to shareholders of 8,810% over the past three years. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 881% share price gain to AR$3,810, the stock trades at a trailing P/E ratio of 71.5x. Average trailing P/E is 8x in the Consumer Durables industry in South America. Total returns to shareholders of 10,423% over the past three years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 886% share price gain to AR$3,825, the stock trades at a trailing P/E ratio of 71.8x. Average trailing P/E is 9x in the Consumer Durables industry in South America. Total returns to shareholders of 12,514% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 938% share price gain to AR$3,918, the stock trades at a trailing P/E ratio of 66.8x. Average trailing P/E is 8x in the Consumer Durables industry in South America. Total returns to shareholders of 11,440% over the past three years. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improved over the past week After last week's 947% share price gain to AR$3,971, the stock trades at a trailing P/E ratio of 72.5x. Average trailing P/E is 9x in the Consumer Durables industry in South America. Total returns to shareholders of 12,536% over the past three years. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improved over the past week After last week's 899% share price gain to AR$3,996, the stock trades at a trailing P/E ratio of 73x. Average trailing P/E is 9x in the Consumer Durables industry in South America. Total returns to shareholders of 12,589% over the past three years. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 927% share price gain to AR$3,379, the stock trades at a trailing P/E ratio of 61.7x. Average trailing P/E is 10x in the Consumer Durables industry in South America. Total returns to shareholders of 10,128% over the past three years. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improved over the past week After last week's 19% share price gain to AR$326, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 10x in the Consumer Durables industry in South America. Total returns to shareholders of 701% over the past three years. Announcement • Aug 31
Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria (BASE:MIRG) announces an Equity Buyback for ARS 1,000 million worth of its shares. Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria (BASE:MIRG) announces a share repurchase program. Under the program, the company will repurchase up to ARS 1,000 million worth of its common shares such that the treasury shares in the portfolio may not, as a whole, exceed the limit of 10% of the capital stock. The shares will be repurchased at a price of not more than ARS 4,000 for every 10 shares on the Buenos Aires Stock Exchange. The purpose of the program is granting a compensation plan in shares. The program will be funded with realized and liquid profits, optional reserve or other free reserves, according to the Financial Statements for the six-month period ended June 30, 2021. The repurchase program will be valid for a period of 365 days, from the date of publication of the purchase in the media at market. As at May 10, 2019, the company has 2,340,000 shares held in treasury. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 983% share price gain to AR$2,440, the stock trades at a trailing P/E ratio of 65.4x. Average trailing P/E is 10x in the Consumer Durables industry in South America. Total returns to shareholders of 7,375% over the past three years. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 913% share price gain to AR$1,990, the stock trades at a trailing P/E ratio of 53.4x. Average trailing P/E is 11x in the Consumer Durables industry in South America. Total returns to shareholders of 5,082% over the past three years. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 901% share price gain to AR$1,962, the stock trades at a trailing P/E ratio of 52.6x. Average forward P/E is 10x in the Consumer Durables industry in South America. Total returns to shareholders of 5,469% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improved over the past week After last week's 881% share price gain to AR$1,925, the stock trades at a trailing P/E ratio of 51.6x. Average forward P/E is 10x in the Consumer Durables industry in South America. Total returns to shareholders of 5,573% over the past three years. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improved over the past week After last week's 1,005% share price gain to AR$1,940, the stock trades at a trailing P/E ratio of 64x. Average forward P/E is 10x in the Consumer Durables industry in South America. Total returns to shareholders of 3,625% over the past three years. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 894% share price gain to AR$1,588, the stock trades at a trailing P/E ratio of 52.4x. Average forward P/E is 9x in the Consumer Durables industry in South America. Total returns to shareholders of 2,827% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 895% share price gain to AR$1,583, the stock trades at a trailing P/E ratio of 52.2x. Average forward P/E is 10x in the Consumer Durables industry in South America. Total returns to shareholders of 2,493% over the past three years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 876% share price gain to AR$1,576, the stock trades at a trailing P/E ratio of 52x. Average forward P/E is 9x in the Consumer Durables industry in South America. Total returns to shareholders of 2,601% over the past three years. Is New 90 Day High Low • Feb 23
New 90-day high: AR$1,449 The company is up 1,027% from its price of AR$129 on 24 November 2020. The Argentinean market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is flat over the same period. Is New 90 Day High Low • Feb 05
New 90-day high: AR$1,454 The company is up 1,057% from its price of AR$126 on 06 November 2020. The Argentinean market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 7.0% over the same period. Is New 90 Day High Low • Jan 20
New 90-day high: AR$1,625 The company is up 1,165% from its price of AR$129 on 22 October 2020. The Argentinean market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 6.0% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: AR$1,577 The company is up 1,344% from its price of AR$109 on 07 October 2020. The Argentinean market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: AR$1,379 The company is up 1,031% from its price of AR$122 on 10 September 2020. The Argentinean market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 7.0% over the same period. Is New 90 Day High Low • Nov 14
New 90-day high: AR$131 The company is up 17% from its price of AR$112 on 14 August 2020. The Argentinean market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is down 3.0% over the same period. Is New 90 Day High Low • Oct 23
New 90-day high: AR$129 The company is up 31% from its price of AR$97.85 on 24 July 2020. The Argentinean market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is down 5.0% over the same period. Valuation Update With 7 Day Price Move • Oct 23
Market bids up stock over the past week After last week's 16% share price gain to AR$129, the stock is trading at a trailing P/E ratio of 24.2x, up from the previous P/E ratio of 21x. This compares to an average P/E of 16x in the Consumer Durables industry in South America. Total returns to shareholders over the past three years are 163%.