Declared Dividend • May 20
Dividend of €3.00 announced Shareholders will receive a dividend of €3.00. Ex-date: 4th June 2026 Payment date: 8th June 2026 Dividend yield will be 3.2%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 23
CEWE Stiftung & Co. KGaA, Annual General Meeting, Jun 03, 2026 CEWE Stiftung & Co. KGaA, Annual General Meeting, Jun 03, 2026, at 10:00 W. Europe Standard Time. Announcement • Mar 18
CEWE Stiftung & Co. KGaA announces Annual dividend, payable on June 08, 2026 CEWE Stiftung & Co. KGaA announced Annual dividend of EUR 3.0000 per share payable on June 08, 2026, ex-date on June 04, 2026 and record date on June 05, 2026. Announcement • Jun 05
CEWE Stiftung & Co. KGaA Approves Dividend Increase for the Fiscal Year 2024 CEWE Stiftung & Co. KGaA at its Annual General Meeting held on June 4, 2025, announced the dividend will increase to EUR 2.85 per share for the fiscal year 2024 (previous year’s dividend: EUR 2.60 per share). Announcement • Apr 24
CEWE Stiftung & Co. KGaA, Annual General Meeting, Jun 04, 2025 CEWE Stiftung & Co. KGaA, Annual General Meeting, Jun 04, 2025, at 10:00 W. Europe Standard Time. Announcement • Mar 18
CEWE Stiftung & Co. KGaA announces Annual dividend, payable on June 09, 2025 CEWE Stiftung & Co. KGaA announced Annual dividend of EUR 2.8500 per share payable on June 09, 2025, ex-date on June 05, 2025 and record date on June 06, 2025. New Risk • Nov 16
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 Swiss stocks, typically moving 6.7% 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. This is currently the only risk that has been identified for the company. Announcement • Nov 16
CEWE Stiftung & Co. KGaA Provides Financial Guidance for the Year 2024 CEWE Stiftung & Co. KGaAm provided financial guidance for the year 2024. For the period, the company is targeting a group turnover growth of 5% to reach the upper end of the target range, EUR 820 million and an EBIT of up to EUR 87 million. Announcement • Sep 05
CEWE Stiftung & Co. KGaA to Report Fiscal Year 2024 Results on Mar 27, 2025 CEWE Stiftung & Co. KGaA announced that they will report fiscal year 2024 results on Mar 27, 2025 Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Upcoming Dividend • May 30
Upcoming dividend of €2.60 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Swiss dividend payers (4.1%). In line with average of industry peers (2.7%). Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: €0.83 (vs €0.47 in 1Q 2023) First quarter 2024 results: EPS: €0.83 (up from €0.47 in 1Q 2023). Revenue: €175.1m (up 11% from 1Q 2023). Net income: €5.81m (up 76% from 1Q 2023). Profit margin: 3.3% (up from 2.1% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 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 7% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF143 per share. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CHF92.60, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total returns to shareholders of 9.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF173 per share. Buy Or Sell Opportunity • Mar 26
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to CHF73.10. The fair value is estimated to be CHF95.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Earnings per share has grown by 3.3%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 3.1% per annum over the same time period. Declared Dividend • Mar 25
Dividend of €2.60 announced Shareholders will receive a dividend of €2.60. Ex-date: 6th June 2024 Payment date: 10th June 2024 Dividend yield will be 2.8%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 7.1% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: €8.43 (vs €7.20 in FY 2022) Full year 2023 results: EPS: €8.43 (up from €7.20 in FY 2022). Revenue: €809.9m (up 7.9% from FY 2022). Net income: €59.6m (up 17% from FY 2022). Profit margin: 7.4% (up from 6.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 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 3% per year whereas the company’s share price has remained flat. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Reported Earnings • Nov 11
Third quarter 2023 earnings released: €0.01 loss per share (vs €0.06 profit in 3Q 2022) Third quarter 2023 results: €0.01 loss per share (down from €0.06 profit in 3Q 2022). Revenue: €164.6m (up 8.2% from 3Q 2022). Net income: €183.0k (down 59% from 3Q 2022). Profit margin: 0.1% (down from 0.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 6.1% 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 whereas the company’s share price has remained flat. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Commercial Services industry in Europe. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Commercial Services industry in Europe. Total loss to shareholders of 12% over the past three years. Reported Earnings • Aug 14
Second quarter 2023 earnings released: €0.52 loss per share (vs €0.39 loss in 2Q 2022) Second quarter 2023 results: €0.52 loss per share (further deteriorated from €0.39 loss in 2Q 2022). Revenue: €148.1m (up 12% from 2Q 2022). Net loss: €3.69m (loss widened 33% from 2Q 2022). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 6.6% 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 remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Commercial Services industry in Europe. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF121 per share. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF106 per share. Buying Opportunity • Jun 28
Now 37% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be CHF115, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 4.2% in 2 years. Earnings is forecast to grow by 6.3% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF137 per share. Upcoming Dividend • Jun 01
Upcoming dividend of €2.45 per share at 2.7% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 12 June 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Swiss dividend payers (4.4%). In line with average of industry peers (2.9%). Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF135 per share. Announcement • May 11
CEWE Stiftung & Co. KGaA Provides Earnings Guidance for the Year 2023 CEWE Stiftung & Co. KGaA provides earnings guidance for the year 2023. Group turnover is expected to reach a level in the range of EUR 720 million to EUR 780 million in 2023, Group EBIT is expected to be in the corridor of EUR 70 million to EUR 82 million in 2023. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF136 per share. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF133 per share. Buying Opportunity • Apr 03
Now 28% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be CHF102, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings is also forecast to grow by 5.0% per annum over the same time period. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF133 per share. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF136 per share. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to CHF92.60, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Commercial Services industry in Europe. Total returns to shareholders of 8.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF169 per share. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF132 per share. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF144 per share. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: €0.06 (vs €0.28 loss in 3Q 2021) Third quarter 2022 results: EPS: €0.06 (up from €0.28 loss in 3Q 2021). Revenue: €158.6m (up 20% from 3Q 2021). Net income: €441.0k (up €2.50m from 3Q 2021). Profit margin: 0.3% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Commercial Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Nov 11
CEWE Stiftung & Co. KGaA to Report Fiscal Year 2022 Results on Mar 30, 2023 CEWE Stiftung & Co. KGaA announced that they will report fiscal year 2022 results on Mar 30, 2023 Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Reported Earnings • Aug 11
Second quarter 2022 earnings released: €0.39 loss per share (vs €0.61 loss in 2Q 2021) Second quarter 2022 results: €0.39 loss per share (up from €0.61 loss in 2Q 2021). Revenue: €132.7m (up 14% from 2Q 2021). Net loss: €2.78m (loss narrowed 37% from 2Q 2021). Over the next year, revenue is forecast to grow 2.9%, compared to a 17% growth forecast for the industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 16% over the past three years. Upcoming Dividend • Jun 09
Upcoming dividend of €2.35 per share Eligible shareholders must have bought the stock before 16 June 2022. Payment date: 21 June 2022. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Swiss dividend payers (3.9%). In line with average of industry peers (2.8%). Valuation Update With 7 Day Price Move • May 30
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 15x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Reported Earnings • May 12
First quarter 2022 earnings released: EPS: €0.17 (vs €0.80 in 1Q 2021) First quarter 2022 results: EPS: €0.17 (down from €0.80 in 1Q 2021). Revenue: €145.5m (flat on 1Q 2021). Net income: €1.20m (down 79% from 1Q 2021). Profit margin: 0.8% (down from 3.9% in 1Q 2021). Over the next year, revenue is forecast to grow 5.3%, compared to a 25% growth forecast for the industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: €6.77 (vs €7.20 in FY 2020) Full year 2021 results: EPS: €6.77 (down from €7.20 in FY 2020). Revenue: €721.2m (down 1.4% from FY 2020). Net income: €48.9m (down 5.8% from FY 2020). Profit margin: 6.8% (down from 7.1% in FY 2020). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 1.9%, compared to a 26% growth forecast for the industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Commercial Services industry in Europe. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Commercial Services industry in Europe. Total returns to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Commercial Services industry in Europe. Total returns to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF139 per share. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Commercial Services industry in Europe. Total returns to shareholders of 8.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF144 per share. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Commercial Services industry in Europe. Total returns to shareholders of 8.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF135 per share. Reported Earnings • Nov 14
Third quarter 2021 earnings released: €0.28 loss per share (vs €0.17 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: €132.7m (down 2.9% from 3Q 2020). Net loss: €2.06m (loss widened 70% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Commercial Services industry in Europe. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment deteriorated over the past week After last week's 21% share price decline to CHF73.10, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Commercial Services industry in Europe. Total loss to shareholders of 5.5% over the past three years.