Board Change • May 20
Less than half of directors are independent 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. 9 experienced directors. 2 highly experienced directors. 1 independent director (8 non-independent directors). Lead Independent Director Mauro Melis was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Mar 23
Sogefi S.p.A., Annual General Meeting, Apr 24, 2026 Sogefi S.p.A., Annual General Meeting, Apr 24, 2026, at 16:00 W. Europe Standard Time. Announcement • Oct 30
Sogefi S.p.A. Provides Earnings Guidance for the Full Year 2025 Sogefi S.p.A. provided earnings guidance for the full year 2025. for the year, the company expects a decline of low single digit at constant exchange rates and an EBIT margin to grow slightly compared to what recorded in '24, so in line in absolute value. Announcement • Mar 17
Sogefi S.p.A., Annual General Meeting, Apr 24, 2025 Sogefi S.p.A., Annual General Meeting, Apr 24, 2025, at 16:00 W. Europe Standard Time. Announcement • Mar 06
Sogefi S.p.A. announces Annual dividend, payable on May 14, 2025 Sogefi S.p.A. announced Annual dividend of EUR 0.1500 per share payable on May 14, 2025, ex-date on May 12, 2025 and record date on May 13, 2025. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment deteriorates as stock falls 39% After last week's 39% share price decline to €1.90, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 7x in the Auto Components industry in Germany. Total returns to shareholders of 125% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €1.30 per share. New Risk • Jul 26
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 German stocks, typically moving 14% 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 Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings are forecast to decline by an average of 32% per year for the foreseeable future. Minor Risk Short dividend paying track record (less than a year of continuous dividend payments). Upcoming Dividend • Jul 15
Upcoming dividend of €0.92 per share Eligible shareholders must have bought the stock before 22 July 2024. Payment date: 24 July 2024. Trailing yield: 6.1%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.1%). Buy Or Sell Opportunity • Jun 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €2.67. The fair value is estimated to be €3.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 2.0% in 2 years. Earnings are forecast to decline by 10% in the next 2 years. Announcement • Jun 06
Pacific Avenue Capital Partners, LLC acquired SOGEFI FILTRATION S.A. from Sogefi S.p.A. (BIT:SGF). Pacific Avenue Capital Partners, LLC acquired SOGEFI FILTRATION S.A. from Sogefi S.p.A. (BIT:SGF) on June 4, 2024. J.P. Morgan Securities acted as the lead arranger for the financing. The Company, now operating as Purflux Group. The Company generated over $600 million of revenue in 2023.Purflux's leadership team will stay in place and will continue to prioritize quality, service, and support. Robert W. Baird & Co. Inc. acted as a financial advisor and, Weil, Gotshal & Manges LLP and Legance - Avvocati Associati acted as a legal advisor to Pacific Avenue. Houlihan Lokey, Inc. acted as a financial advisor and Clifford Chance LLP acted as a legal advisor to Sogefi S.p.A.Pacific Avenue Capital Partners, LLC completed the acquisition of SOGEFI FILTRATION S.A. from Sogefi S.p.A. (BIT:SGF) on June 4, 2024. Buy Or Sell Opportunity • May 06
Now 21% undervalued Over the last 90 days, the stock has risen 44% to €2.63. The fair value is estimated to be €3.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 2.0% in 2 years. Earnings are forecast to decline by 29% in the next 2 years. New Risk • May 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.9% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings are forecast to decline by an average of 9.9% per year for the foreseeable future. Minor Risks High level of debt (63% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Reported Earnings • Apr 04
Full year 2023 earnings released: EPS: €0.54 (vs €0.26 in FY 2022) Full year 2023 results: EPS: €0.54 (up from €0.26 in FY 2022). Revenue: €1.63b (up 5.5% from FY 2022). Net income: €64.4m (up 108% from FY 2022). Profit margin: 4.0% (up from 2.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Auto Components industry in Germany. New Risk • Mar 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.0% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings are forecast to decline by an average of 8.0% per year for the foreseeable future. Minor Risks High level of debt (75% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improves as stock rises 59% After last week's 59% share price gain to €3.19, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Auto Components industry in Germany. Total returns to shareholders of 194% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €3.47 per share. New Risk • Feb 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 13% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks High level of debt (75% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Reported Earnings • Feb 25
Full year 2023 earnings released Full year 2023 results: Revenue: €1.63b (up 4.9% from FY 2022). Net income: €64.5m (up 118% from FY 2022). Profit margin: 4.0% (up from 1.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Auto Components industry in Germany. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.83, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 8x in the Auto Components industry in Germany. Simply Wall St's valuation model estimates the intrinsic value at €2.24 per share. Reported Earnings • Oct 25
Third quarter 2023 earnings released Third quarter 2023 results: EPS: €0.16. Revenue: €404.9m (down 1.1% from 3Q 2022). Net income: €19.4m (up 59% from 3Q 2022). Profit margin: 4.8% (up from 3.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Auto Components industry in Germany. Buying Opportunity • Aug 17
Now 20% undervalued Over the last 90 days, the stock is up 9.0%. The fair value is estimated to be €1.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings is also forecast to grow by 8.9% per annum over the same time period. Reported Earnings • Jul 26
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €420.8m (up 12% from 2Q 2022). Net income: €18.2m (up 81% from 2Q 2022). Profit margin: 4.3% (up from 2.7% in 2Q 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Auto Components industry in Germany. Buying Opportunity • Jun 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.8%. The fair value is estimated to be €1.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 84%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: €0.25 (vs €0.22 in FY 2021) Full year 2022 results: EPS: €0.25 (up from €0.22 in FY 2021). Revenue: €1.55b (up 18% from FY 2021). Net income: €29.6m (up 12% from FY 2021). Profit margin: 1.9% (down from 2.0% in FY 2021). 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 5.7% growth forecast for the Auto Components industry in Germany. Buying Opportunity • Mar 17
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €1.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 3.2% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Board Change • Jan 19
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 5 experienced directors. No highly experienced directors. 1 independent director (8 non-independent directors). Chair Monica Mondardini is the most experienced director on the board, commencing their role in 2015. Lead Independent Director Mauro Melis was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 
