New Risk • May 22
New major risk - Revenue and earnings growth Earnings have declined by 6.9% 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 (2.0x net interest cover). Earnings have declined by 6.9% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (€46.3m market cap, or US$53.7m). Announcement • Apr 28
ABO-Group Environment NV, Annual General Meeting, May 27, 2026 ABO-Group Environment NV, Annual General Meeting, May 27, 2026, at 17:00 Romance Standard Time. Reported Earnings • Mar 30
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: €0.074 (down from €0.18 in FY 2024). Revenue: €110.5m (up 15% from FY 2024). Net income: €664.0k (down 65% from FY 2024). Profit margin: 0.6% (down from 2.0% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 75%. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Mar 29
New major risk - Revenue and earnings growth Earnings have declined by 1.1% 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 Risk Earnings have declined by 1.1% per year over the past 5 years. Minor Risks High level of debt (91% net debt to equity). Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (€46.5m market cap, or US$53.5m). Board Change • Feb 24
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. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Katleen De Stobbeleir was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Sep 23
First half 2025 earnings released: EPS: €0.014 (vs €0.05 in 1H 2024) First half 2025 results: EPS: €0.014 (down from €0.05 in 1H 2024). Revenue: €53.7m (up 18% from 1H 2024). Net income: €149.0k (down 68% from 1H 2024). Profit margin: 0.3% (down from 1.0% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Sep 20
ABO-Group Environment NV Maintains Revenue Guidance for the Year 2025 ABO-Group Environment NV maintained revenue guidance for the year 2025. For the year, the group is maintaining its 2025 revenue target of between €105 million and €110 million. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.75, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total returns to shareholders of 14% over the past three years. Announcement • Apr 29
ABO-Group Environment NV, Annual General Meeting, May 28, 2025 ABO-Group Environment NV, Annual General Meeting, May 28, 2025, at 17:00 Romance Standard Time. Major Estimate Revision • Apr 03
Consensus EPS estimates fall by 27% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.45 to €0.329 per share. Revenue forecast steady at €109.3m. Net income forecast to grow 83% next year vs 26% growth forecast for Commercial Services industry in Belgium. Consensus price target of €6.60 unchanged from last update. Share price rose 19% to €5.05 over the past week. New Risk • Mar 28
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 3.7x 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 (3.7x net interest cover). Share price has been highly volatile over the past 3 months (2.4% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (2.6% net profit margin). Market cap is less than US$100m (€45.0m market cap, or US$48.7m). Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €5.30, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Commercial Services industry in Europe. Total loss to shareholders of 1.7% over the past three years. Announcement • Jan 24
ABO-Group Environment NV Announces CFO Changes Els De Keukelaere will strengthen the management team at ABO-Group Environment NV as the new CFO. She will take over the responsibilities of the current CFO Floris Pelgrims, who decided to take on a new challenge. Reported Earnings • Sep 25
First half 2024 earnings released: EPS: €0.05 (vs €0.063 in 1H 2023) First half 2024 results: EPS: €0.05 (down from €0.063 in 1H 2023). Revenue: €45.6m (up 14% from 1H 2023). Net income: €460.0k (down 31% from 1H 2023). Profit margin: 1.0% (down from 1.7% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Sep 20
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 87% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (87% net debt to equity). Market cap is less than US$100m (€59.7m market cap, or US$66.7m). Announcement • Sep 20
ABO-Group Environment NV (ENXTBR:ABO) acquired 70% stake in Eco Reest B.v. ABO-Group Environment NV (ENXTBR:ABO) acquired 70% stake in Eco Reest B.v. on September 19, 2024. As a result, ABO's team of environmental experts and ecologists in the Netherlands grows from 30 to 80 employees. This integration strengthens ABO-Group's geographical coverage in the Netherlands and makes it one of the largest players in the field of ecology in the Dutch market. In 2023, Eco Reest achieved a turnover of €4.5 million.
ABO-Group Environment NV (ENXTBR:ABO) completed the acquisition of 70% stake in Eco Reest B.v. on September 19, 2024. Major Estimate Revision • Sep 19
Consensus EPS estimates fall by 36%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €93.9m to €96.7m. EPS estimate fell from €0.382 to €0.243 per share. Net income forecast to grow 1.5% next year vs 30% growth forecast for Commercial Services industry in Belgium. Consensus price target of €6.80 unchanged from last update. Share price was steady at €5.65 over the past week. Announcement • Aug 21
ABO-Group Environment NV (ENXTBR:ABO) acquired Infrabureau Demey Bv from Filip Demey and Ellen Vanhoutte. ABO-Group Environment NV (ENXTBR:ABO) acquired Infrabureau Demey Bv from Filip Demey and Ellen Vanhoutte on August 20, 2024. Filip Demey will remain the managing director.
ABO-Group Environment NV (ENXTBR:ABO) completed the acquisition of Infrabureau Demey Bv from Filip Demey and Ellen Vanhoutte on August 20, 2024. New Risk • Apr 01
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: Minor Risks High level of debt (70% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (€59.7m market cap, or US$64.4m). New Risk • Mar 30
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: 2.2% Last year net profit margin: 4.0% 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: Minor Risks High level of debt (70% net debt to equity). Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (€59.7m market cap, or US$64.4m). Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: €0.24 (vs €0.21 in FY 2022) Full year 2023 results: EPS: €0.24 (up from €0.21 in FY 2022). Revenue: €85.2m (up 22% from FY 2022). Net income: €2.53m (up 14% from FY 2022). Profit margin: 3.0% (down from 3.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.33 to €0.26 per share. Revenue forecast steady at €79.5m. Net income forecast to grow 113% next year vs 29% growth forecast for Commercial Services industry in Belgium. Consensus price target broadly unchanged at €7.00. Share price was steady at €5.55 over the past week. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €5.60, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total returns to shareholders of 100% over the past three years. Reported Earnings • Sep 17
First half 2023 earnings released: EPS: €0.06 (vs €0.12 in 1H 2022) First half 2023 results: EPS: €0.06 (down from €0.12 in 1H 2022). Revenue: €39.9m (up 9.7% from 1H 2022). Net income: €666.0k (down 47% from 1H 2022). Profit margin: 1.7% (down from 3.4% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. New Risk • Sep 15
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: 2.2% Last year net profit margin: 4.0% 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 Share price has been highly volatile over the past 3 months (7.0% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (€69.2m market cap, or US$73.9m). Announcement • Jul 06
ABO-Group Environment NV (ENXTBR:ABO) acquired Rimeco NV. ABO-Group Environment NV (ENXTBR:ABO) acquired Rimeco NV on July 5, 2023. ABO-Group Environment NV (ENXTBR:ABO) completed the acquisition of Rimeco NV on July 5, 2023. Announcement • Jul 01
ABO-Group Environment NV (ENXTBR:ABO) acquired 70% stake in Meet Het Bv. ABO-Group Environment NV (ENXTBR:ABO) acquired 70% stake in Meet Het Bv on June 29, 2023. The current founders, Bram Van Londersele, Jonas Van Hooreweghe and Jonas Van Dosselaer, will remain shareholders and lead the future growth of Meet Het.
ABO-Group Environment NV (ENXTBR:ABO) completed the acquisition of 70% stake in Meet Het Bv on June 29, 2023. New Risk • Jun 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Belgian stocks, typically moving 7.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risk Market cap is less than US$100m (€75.0m market cap, or US$81.8m). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €7.10, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total returns to shareholders of 211% over the past three years. Reported Earnings • Mar 31
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: €0.21 (up from €0.19 in FY 2021). Revenue: €69.9m (up 11% from FY 2021). Net income: €2.22m (up 11% from FY 2021). Profit margin: 3.2% (in line with FY 2021). Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 9.2% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 17
ABO-Group Environment NV (ENXTBR:ABO) completed the acquisition of Société d'Etudes et de Gestion de l'Environnement et de Déchets. ABO-Group Environment NV (ENXTBR:ABO) signed a letter of intent to acquire Société d'Etudes et de Gestion de l'Environnement et de Déchets on April 14, 2021. The transaction is subject to completion of due diligence. The transaction is expected to complete in second quarter of 2021. Société d'Etudes et de Gestion de l'Environnement et de Déchets recorded turnover of €2.6 million in 2022.
ABO-Group Environment NV (ENXTBR:ABO) completed the acquisition of Société d'Etudes et de Gestion de l'Environnement et de Déchets on February 15, 2023. Announcement • Dec 29
ABO-Group Environment NV acquired Dynaopt. ABO-Group Environment NV acquired Dynaopt on December 28, 2022. Dynaopt 15 Employees and its two managers will remain on board. ABO-Group Environment NV completed the acquisition of Dynaopt on December 28, 2022. Board Change • Nov 16
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. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Katleen De Stobbeleir was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Sep 17
First half 2022 earnings released: EPS: €0.12 (vs €0.032 in 1H 2021) First half 2022 results: EPS: €0.12 (up from €0.032 in 1H 2021). Revenue: €36.8m (up 18% from 1H 2021). Net income: €1.24m (up 271% from 1H 2021). Profit margin: 3.4% (up from 1.1% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Jun 02
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. 6 experienced directors. No highly experienced directors. Independent Non-Executive Director Katleen De Stobbeleir was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: €0.19 (vs €0.20 in FY 2020) Full year 2021 results: EPS: €0.19 (down from €0.20 in FY 2020). Revenue: €63.1m (up 28% from FY 2020). Net income: €2.00m (down 6.1% from FY 2020). Profit margin: 3.2% (down from 4.3% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 28% per year. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 19% share price gain to €6.05, the stock trades at a trailing P/E ratio of 42.6x. Average trailing P/E is 21x in the Commercial Services industry in Europe. Total returns to shareholders of 94% over the past three years. Reported Earnings • Sep 21
First half 2021 earnings released: EPS €0.032 (vs €0.092 in 1H 2020) The company reported a mediocre first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: €31.1m (up 30% from 1H 2020). Net income: €335.0k (down 65% from 1H 2020). Profit margin: 1.1% (down from 4.1% in 1H 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Sep 20
ABO-Group Environment NV Provides Revenue Guidance for the Year 2025 ABO-Group Environment NV provided revenue guidance for the year 2025. For the period, the company expects growth through a mix of organic and acquisitive growth with a revenue of EUR 100 million. Executive Departure • Aug 05
CFO, Company Secretary, Compliance Officer & Director Johan Reybroeck has left the company During their tenure, earnings grew by 46% annually compared to the industry average of 37%. We don't have any record of a personal shareholding under Johan's name. Johan is the only executive to leave the company over the last 12 months. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improved over the past week After last week's 38% share price gain to €5.95, the stock trades at a trailing P/E ratio of 29.8x. Average trailing P/E is 24x in the Commercial Services industry in Europe. Total returns to shareholders of 67% over the past three years. Reported Earnings • Mar 28
Full year 2020 earnings released: EPS €0.20 (vs €0.17 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €49.4m (up 2.8% from FY 2019). Net income: €2.13m (up 21% from FY 2019). Profit margin: 4.3% (up from 3.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 09
New 90-day high: €4.40 The company is up 25% from its price of €3.52 on 09 December 2020. The Belgian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 5.0% over the same period. Announcement • Feb 25
ABO-Group Environment NV (ENXTBR:ABO) agreed to acquire Sialtech B.V. from Henk Nijmeijers. ABO-Group Environment NV (ENXTBR:ABO) agreed to acquire Sialtech B.V. from Henk Nijmeijers on February 23, 2021. The transaction will be financed from own funds. This transaction will ultimately allow Sialtech to grow even more strongly and it is expected that this will generate €3.5 million in extra turnover for the ABO-GROUP in 2021. Announcement • Dec 15
ABO-Group Environment NV (ENXTBR:ABO) agreed to acquire Geoplusenvironnement. ABO-Group Environment NV (ENXTBR:ABO) agreed to acquire Geoplusenvironnement on December 12, 2020. The transaction price will be paid from its own resources. The integration will start by bringing a few offices together, where possible, so that the different teams can work together in a cross-pollinating manner. The transaction is expected to close at the beginning of January, 2021. GEO+ is expected to add €1.5 million turnover in 2021 with around 25 employees. Is New 90 Day High Low • Dec 15
New 90-day high: €3.88 The company is up 55% from its price of €2.50 on 15 September 2020. The Belgian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 24% share price gain to €3.48, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 13.6x. This compares to an average P/E of 19x in the Commercial Services industry in Europe. Total return to shareholders over the past three years is a loss of 12%. Is New 90 Day High Low • Nov 26
New 90-day high: €3.00 The company is up 43% from its price of €2.10 on 25 August 2020. The Belgian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 8.0% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: €2.82 The company is up 32% from its price of €2.14 on 14 August 2020. The Belgian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 8.0% over the same period. Announcement • Sep 12
ABO-Group Environment NV to Report Fiscal Year 2020 Results on Mar 31, 2021 ABO-Group Environment NV announced that they will report fiscal year 2020 results on Mar 31, 2021