Board Change • May 21
No independent directors There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 8 experienced directors. 1 highly experienced director. No independent directors (10 non-independent directors). Director Alberto Peromingo was the last director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Jun 02
Speedy AD, Annual General Meeting, Jun 30, 2025 Speedy AD, Annual General Meeting, Jun 30, 2025, at 10:00 FLE Standard Time. Location: sofia at 11 brussels blvd., best western premier hotel sofia airport, sofia Bulgaria New Risk • Nov 14
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 Bulgarian stocks, typically moving 5.7% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.7% average weekly change). Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to лв224, the stock trades at a trailing P/E ratio of 26.9x. Average trailing P/E is 17x in the Logistics industry in Europe. Total returns to shareholders of 137% over the past three years. Reported Earnings • Aug 29
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: лв125.6m (up 6.5% from 2Q 2023). Net income: лв7.99m (down 21% from 2Q 2023). Profit margin: 6.4% (down from 8.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 19% per year. Buy Or Sell Opportunity • Jul 24
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to лв188. The fair value is estimated to be лв156, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 14%. Declared Dividend • Jul 04
Dividend of лв5.75 announced Shareholders will receive a dividend of лв5.75. Ex-date: 11th July 2024 Payment date: 1st January 1970 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 32% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 04
First quarter 2024 earnings released First quarter 2024 results: Revenue: лв127.6m (up 21% from 1Q 2023). Net income: лв13.4m (up 64% from 1Q 2023). Profit margin: 11% (up from 7.8% in 1Q 2023). The increase in margin was driven by higher revenue. Board Change • May 15
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to лв136, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 15x in the Logistics industry in Europe. Total returns to shareholders of 96% over the past three years. Buy Or Sell Opportunity • Apr 02
Now 33% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to лв150. The fair value is estimated to be лв113, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 13%. Reported Earnings • Mar 01
Full year 2023 earnings released Full year 2023 results: Revenue: лв454.9m (up 15% from FY 2022). Net income: лв41.6m (up 15% from FY 2022). Profit margin: 9.2% (up from 9.1% in FY 2022). The increase in margin was driven by higher revenue. Board Change • Feb 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buy Or Sell Opportunity • Feb 10
Now 20% undervalued Over the last 90 days, the stock has risen 4.4% to лв141. The fair value is estimated to be лв177, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 13%. Board Change • Jan 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 07
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: лв106.1m (up 9.6% from 3Q 2022). Net income: лв8.52m (up 19% from 3Q 2022). Profit margin: 8.0% (up from 7.4% in 3Q 2022). The increase in margin was driven by higher revenue. New Risk • Aug 20
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 69% 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: Major Risk Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risks High level of debt (69% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: лв117.8m (up 25% from 2Q 2022). Net income: лв10.1m (up 20% from 2Q 2022). Profit margin: 8.6% (down from 8.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jul 03
Upcoming dividend of лв5.25 per share at 3.7% yield Eligible shareholders must have bought the stock before 10 July 2023. Payment date: 20 August 2023. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Bulgarian dividend payers (6.8%). Higher than average of industry peers (2.7%). Reported Earnings • May 25
First quarter 2023 earnings released First quarter 2023 results: Revenue: лв105.7m (up 22% from 1Q 2022). Net income: лв8.22m (up 2.4% from 1Q 2022). Profit margin: 7.8% (down from 9.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Board Change • Apr 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 13
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 06
Full year 2022 earnings released Full year 2022 results: Revenue: лв396.6m (up 18% from FY 2021). Net income: лв36.2m (up 13% from FY 2021). Profit margin: 9.1% (in line with FY 2021). Board Change • Jan 04
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 22
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: лв97.7m (up 21% from 3Q 2021). Net income: лв7.16m (down 6.5% from 3Q 2021). Profit margin: 7.3% (down from 9.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 25% per year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 24
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: лв94.0m (up 20% from 2Q 2021). Net income: лв8.40m (up 38% from 2Q 2021). Profit margin: 8.9% (up from 7.7% in 2Q 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Jul 01
Upcoming dividend of лв4.00 per share Eligible shareholders must have bought the stock before 08 July 2022. Payment date: 14 October 2022. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Bulgarian dividend payers (6.7%). In line with average of industry peers (3.7%). Reported Earnings • Jun 02
First quarter 2022 earnings released First quarter 2022 results: Revenue: лв87.2m (up 15% from 1Q 2021). Net income: лв8.03m (down 1.1% from 1Q 2021). Profit margin: 9.2% (down from 11% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 03
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 4.3%. The fair value is estimated to be лв144, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 37%. Board Change • Apr 29
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (4 non-independent directors). Independent Director Danail Danailov was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Apr 06
Now 20% undervalued Over the last 90 days, the stock is up 2.7%. The fair value is estimated to be лв142, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 37%. Buying Opportunity • Mar 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be лв142, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% per annum over the last 3 years. Earnings per share has grown by 37% per annum over the last 3 years. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: лв339.4m (up 21% from FY 2020). Net income: лв32.1m (up 20% from FY 2020). Profit margin: 9.5% (in line with FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 04
Third quarter 2021 earnings: Revenues in line with analyst expectations Third quarter 2021 results: Revenue: лв84.2m (up 25% from 3Q 2020). Net income: лв7.66m (up 4.8% from 3Q 2020). Profit margin: 9.1% (down from 11% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 43% per year whereas the company’s share price has increased by 38% per year. Reported Earnings • Aug 31
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: лв80.9m (up 20% from 2Q 2020). Net income: лв6.07m (down 26% from 2Q 2020). Profit margin: 7.5% (down from 12% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment improved over the past week After last week's 18% share price gain to лв100.00, the stock trades at a trailing P/E ratio of 17.4x. Average forward P/E is 17x in the Logistics industry in Europe. Total returns to shareholders of 140% over the past three years. Price Target Changed • Jul 26
Price target increased to лв91.90 Up from лв38.13, the current price target is provided by 1 analyst. New target price is 6.9% above last closing price of лв86.00. Reported Earnings • Jun 05
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: лв77.9m (up 35% from 1Q 2020). Net income: лв8.11m (up 101% from 1Q 2020). Profit margin: 10% (up from 7.0% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 03
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: лв282.0m (up 25% from FY 2019). Net income: лв31.0m (up 63% from FY 2019). Profit margin: 11% (up from 8.4% 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 45% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 26
New 90-day high: лв75.00 The company is up 28% from its price of лв58.50 on 26 November 2020. The Bulgarian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Logistics industry, which is up 7.0% over the same period. Is New 90 Day High Low • Feb 10
New 90-day high: лв72.00 The company is up 22% from its price of лв59.00 on 11 November 2020. The Bulgarian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Logistics industry, which is up 9.0% over the same period. Announcement • Jan 22
GeoPost SA launched a buyout bid to acquire remaining 75.2% stake in Speedy AD (BUL:0SP) from Speedy Group AD and others for approximately BGN 240 million. GeoPost SA launched a buyout bid to acquire remaining 75.2% stake in Speedy AD (BUL:0SP) from Speedy Group AD and others for approximately BGN 240 million on January 20, 2021. GeoPost SA will pay BGN 58.67 per share. The buyout offer will be considered successful if Geopost acquired at least 45% interest. Geopost received approval from Bulgaria's Commission for Protection of Competition to become the majority owner of Speedy in November 2020. Is New 90 Day High Low • Jan 21
New 90-day high: лв63.00 The company is up 13% from its price of лв56.00 on 23 October 2020. The Bulgarian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Logistics industry, which is up 5.0% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: лв60.50 The company is up 5.0% from its price of лв57.50 on 08 October 2020. The Bulgarian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Logistics industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 16
New 90-day high: лв60.00 The company is up 1.0% from its price of лв59.50 on 14 August 2020. The Bulgarian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: лв55.00 The company is down 4.0% from its price of лв57.50 on 31 July 2020. The Bulgarian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Logistics industry, which is up 15% over the same period. Reported Earnings • Oct 08
First half earnings released Over the last 12 months the company has reported total profits of лв23.8m, up 106% from the prior year. Total revenue was лв246.8m over the last 12 months, up 18% from the prior year.