Upcoming Dividend • May 08
Upcoming dividend of €2.03 per share Eligible shareholders must have bought the stock before 15 May 2026. Payment date: 29 May 2026. Payout ratio is on the higher end at 99% but the company is not cash flow positive. Trailing yield: 8.0%. Within top quartile of Belgian dividend payers (6.3%). Higher than average of industry peers (4.2%). Buy Or Sell Opportunity • Apr 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to €73.00. The fair value is estimated to be €91.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 120% over the last 3 years. Earnings per share has declined by 66%. Declared Dividend • Apr 09
First half dividend of €2.03 announced Shareholders will receive a dividend of €2.03. Ex-date: 15th May 2026 Payment date: 29th May 2026 Dividend yield will be 5.6%, which is higher than the industry average of 2.8%. Sustainability & Growth The dividend has increased by an average of 1.5% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 32% to bring the payout ratio under control, which is more than the 25% EPS growth achieved over the last 5 years. New Risk • Mar 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Belgian stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 119% Paying a dividend despite having no free cash flows. Revenue is less than US$1m (€5.0k revenue, or US$5.8k). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (5.4% average weekly change). Buy Or Sell Opportunity • Feb 27
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to €69.00. The fair value is estimated to be €89.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 98% over the last 3 years. Earnings per share has declined by 64%. New Risk • Feb 17
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 Dividend is not well covered by earnings and cash flows. Payout ratio: 119% Paying a dividend despite having no free cash flows. Revenue is less than US$1m (€5.0k revenue, or US$5.9k). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Upcoming Dividend • Sep 04
Upcoming dividend of €2.03 per share Eligible shareholders must have bought the stock before 11 September 2025. Payment date: 25 September 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 6.3%. Within top quartile of Belgian dividend payers (6.2%). Higher than average of industry peers (4.1%). Buy Or Sell Opportunity • May 14
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to €90.00. The fair value is estimated to be €113, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 47% over the last 3 years. Earnings per share has declined by 32%. Upcoming Dividend • May 07
Upcoming dividend of €0.59 per share Eligible shareholders must have bought the stock before 14 May 2025. Payment date: 27 May 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 6.1%. Lower than top quartile of Belgian dividend payers (6.7%). Higher than average of industry peers (4.5%). Announcement • Apr 29
Solvac S.A., Annual General Meeting, May 13, 2025 Solvac S.A., Annual General Meeting, May 13, 2025, at 14:30 Romance Standard Time. Buy Or Sell Opportunity • Apr 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to €89.00. The fair value is estimated to be €112, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 47% over the last 3 years. Earnings per share has declined by 32%. New Risk • Mar 10
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 97% The company is paying a dividend despite having no free cash flows. Dividend yield: 5.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Paying a dividend despite having no free cash flows. Revenue is less than US$1m (€5.0k revenue, or US$5.4k). New Risk • Dec 31
New major risk - Revenue and earnings growth Revenue has declined by 100% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Revenue has declined by 100% over the past year. Revenue is less than US$1m (€5.0k revenue, or US$5.2k). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Dec 13
Solvac S.A. Announces Second Interim Dividend for the Financial Year 2024, Payable on January 30, 2025 The Board of Directors of Solvac S.A. has decided the payment of a second interim dividend ex-2024 of €1.48 gross per share. This payment will be made on January 30, 2025. Announcement • Dec 12
Solvac S.A. to Report Fiscal Year 2024 Results on Mar 07, 2025 Solvac S.A. announced that they will report fiscal year 2024 results on Mar 07, 2025 Buy Or Sell Opportunity • Nov 12
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at €100.00. The fair value is estimated to be €127, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Nov 04
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Revenue has declined by 22% over the past year. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Oct 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 Risk Revenue is less than US$1m (€5.0k revenue, or US$5.4k). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buy Or Sell Opportunity • Oct 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.8% to €102. The fair value is estimated to be €128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 36% over the last 3 years. Meanwhile, the company has become profitable. Declared Dividend • Aug 12
Final dividend of €3.49 announced Shareholders will receive a dividend of €3.49. Ex-date: 14th August 2024 Payment date: 27th August 2024 Dividend yield will be 5.1%, which is higher than the industry average of 2.8%. Sustainability & Growth The dividend has increased by an average of 2.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 8.4% to bring the payout ratio under control. However, EPS has declined by 14% over the last 5 years so the company would need to reverse this trend. Announcement • May 30
Solvac S.A. Approves Dividend for the Fiscal Year 2023 Solvac S.A. approved the payment of the total dividend per share at EUR 5.81 gross for the fiscal year 2023, increased by 4.1 % compared to 2022. New Risk • Feb 19
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 Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Dividend is not well covered by cash flows (96% cash payout ratio). Announcement • Dec 16
Solvac S.A., Annual General Meeting, May 09, 2023 Solvac S.A., Annual General Meeting, May 09, 2023. Agenda: To consider the approval of second interim dividend. Buying Opportunity • Jul 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be €116, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Jun 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be €119, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 18% over the last 3 years. Meanwhile, the company has become profitable. Price Target Changed • Aug 02
Price target increased to €145 Up from €135, the current price target is provided by 1 analyst. New target price is 18% above last closing price of €123. Stock is up 39% over the past year. Is New 90 Day High Low • Mar 02
New 90-day high: €119 The company is up 5.0% from its price of €113 on 02 December 2020. The Belgian market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 15% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: €115 The company is up 25% from its price of €92.00 on 08 October 2020. The Belgian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: €115 The company is up 23% from its price of €93.00 on 04 September 2020. The Belgian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 12% over the same period. Price Target Changed • Nov 21
Price target raised to €125 Up from €110, the current price target is provided by 1 analyst. The new target price is 15% above the current share price of €109. As of last close, the stock is down 12% over the past year. Is New 90 Day High Low • Nov 07
New 90-day high: €98.00 The company is up 14% from its price of €86.00 on 07 August 2020. The Belgian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is down 2.0% over the same period.