Reported Earnings • Aug 05
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: €531.8m (up 17% from 2Q 2025). Net income: €173.4m (up 22% from 2Q 2025). Profit margin: 33% (up from 31% in 2Q 2025). 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 6.8% growth forecast for the Banks industry in Europe. Board Change • May 21
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. 5 experienced directors. 7 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Director Elisabetta Gualandri was the last independent director to join the board, commencing their role in 2021. 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 19
Credito Emiliano S.p.A. announces Annual dividend, payable on May 20, 2026 Credito Emiliano S.p.A. announced Annual dividend of EUR 0.7500 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026. Board Change • Dec 30
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. 6 experienced directors. 6 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Director Elisabetta Gualandri was the last independent director to join the board, commencing their role in 2021. 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 21
Credito Emiliano S.p.A., Annual General Meeting, Apr 30, 2025 Credito Emiliano S.p.A., Annual General Meeting, Apr 30, 2025, at 17:00 W. Europe Standard Time. Announcement • Mar 18
Credito Emiliano S.p.A. announces Annual dividend, payable on May 21, 2025 Credito Emiliano S.p.A. announced Annual dividend of EUR 0.7500 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025. Reported Earnings • Nov 08
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €461.4m (up 3.3% from 3Q 2023). Net income: €162.1m (up 16% from 3Q 2023). Profit margin: 35% (up from 31% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Banks industry in Europe are expected to grow by 3.0%. Upcoming Dividend • Oct 07
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 14 October 2024. Payment date: 16 October 2024. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.4%). Reported Earnings • Aug 08
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €497.6m (up 7.1% from 2Q 2023). Net income: €162.9m (flat on 2Q 2023). Profit margin: 33% (down from 35% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Banks industry in Europe are expected to grow by 3.0%. Reported Earnings • May 08
First quarter 2024 earnings released First quarter 2024 results: Revenue: €512.0m (up 11% from 1Q 2023). Net income: €160.9m (up 19% from 1Q 2023). Profit margin: 31% (up from 29% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. New Risk • Mar 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.3% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Reported Earnings • Feb 12
Full year 2023 earnings released Full year 2023 results: Revenue: €1.82b (up 31% from FY 2022). Net income: €562.1m (up 77% from FY 2022). Profit margin: 31% (up from 23% in FY 2022). The increase in margin was driven by higher revenue. Cost-to-income ratio: 44.0% (down from 54.5% in FY 2022). Revenue is forecast to stay flat during the next 3 years compared to a 2.5% growth forecast for the Banks industry in Europe. Reported Earnings • Nov 10
Third quarter 2023 earnings released Third quarter 2023 results: EPS: €0.41. Revenue: €446.9m (up 35% from 3Q 2022). Net income: €140.3m (up 110% from 3Q 2022). Profit margin: 31% (up from 20% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Banks industry in Europe are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €1.00b (up 213% from 2Q 2022). Net income: €163.9m (up 108% from 2Q 2022). Profit margin: 16% (down from 25% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 3.6% p.a. on average during the next 3 years, while revenues in the Banks industry in Europe are expected to grow by 3.7%. Upcoming Dividend • May 08
Upcoming dividend of €0.33 per share at 4.7% yield Eligible shareholders must have bought the stock before 15 May 2023. Payment date: 17 May 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.1%). Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €6.57, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 90% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.36 per share. Reported Earnings • Feb 09
Full year 2022 earnings released Full year 2022 results: Revenue: €1.39b (up 7.6% from FY 2021). Net income: €317.0m (down 10% from FY 2021). Profit margin: 23% (down from 27% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Banks industry in Europe. Buying Opportunity • Jan 20
Now 21% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be €8.73, 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 3.5% per annum. Earnings is also forecast to grow by 3.7% per annum over the same time period. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Elisabetta Gualandri was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 11
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €320.6m (up 2.0% from 2Q 2021). Net income: €78.8m (up 5.9% from 2Q 2021). Profit margin: 25% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 3.4%, compared to a 16% growth forecast for the industry in Germany. Upcoming Dividend • May 09
Upcoming dividend of €0.30 per share Eligible shareholders must have bought the stock before 16 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.2%). Lower than average of industry peers (6.7%). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Elisabetta Gualandri was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €5.52, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Banks industry in Europe. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.60 per share. Reported Earnings • Feb 09
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €1.29b (up 21% from FY 2020). Net income: €352.4m (up 75% from FY 2020). Profit margin: 27% (up from 19% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.1%. Over the next year, revenue is forecast to grow 1.0%, compared to a 12% growth forecast for the banks industry in Germany. Announcement • Dec 15
ViViBanca SpA acquired a 55% stake in L'istituto Finanziario Veneto Romagnolo con sigla I.FI.VE.R. S.p.A. from Credito Emiliano S.p.A. (BIT:CE). ViViBanca SpA acquired a 55% stake in L'istituto Finanziario Veneto Romagnolo con sigla I.FI.VE.R. S.p.A. from Credito Emiliano S.p.A. (BIT:CE) on December 13, 2021. Massimiliano Elia of Pavia e Ansaldo acted as a legal advisor to ViViBanca SpA. Antonio Bondesani, and Ilaria Vecchiarino of Ls Lexjus Sinacta Roma acted as a legal advisor, KPMG Advisory S.p.A. acted as a financial advisor to Credito Emiliano S.p.A..
ViViBanca SpA completed the acquisition of a 55% stake in L'istituto Finanziario Veneto Romagnolo con sigla I.FI.VE.R. S.p.A. from Credito Emiliano S.p.A. (BIT:CE) on December 13, 2021. Reported Earnings • Aug 09
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €322.9m (up 36% from 2Q 2020). Net income: €74.4m (up 100% from 2Q 2020). Profit margin: 23% (up from 16% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • May 10
First quarter 2021 earnings released: EPS €0.19 (vs €0.12 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: €217.5m (down 19% from 1Q 2020). Net income: €62.0m (up 52% from 1Q 2020). Profit margin: 28% (up from 15% in 1Q 2020). The increase in margin was driven by lower expenses. Upcoming Dividend • May 10
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 17 May 2021. Payment date: 19 May 2021. Trailing yield: 3.7%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.7%). Reported Earnings • Feb 10
Full year 2020 earnings released The company reported a soft full year result with weaker revenues, although earnings and profit margins were flat. Full year 2020 results: Revenue: €1.07b (down 4.3% from FY 2019). Net income: €201.6m (flat on FY 2019). Profit margin: 19% (in line with FY 2019). Cost-to-income ratio: 58.7% (down from 61.9% in FY 2019). Non-performing loans: 2.99% (down from 3.84% in FY 2019). Is New 90 Day High Low • Feb 10
New 90-day high: €4.81 The company is up 15% from its price of €4.18 on 12 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.66 per share. Announcement • Jan 19
Credito Emiliano S.p.A., Annual General Meeting, Apr 29, 2021 Credito Emiliano S.p.A., Annual General Meeting, Apr 29, 2021. Agenda: To consider the approval of individual and consolidated financial statements as at 31 December 2020. Is New 90 Day High Low • Nov 19
New 90-day high: €4.41 The company is up 3.0% from its price of €4.29 on 20 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Banks industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.98 per share. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue beats expectations Revenue exceeded analyst estimates by 9.0%. Over the next year, revenue is forecast to grow 10%, compared to a 20% growth forecast for the Banks industry in Germany. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS €0.18 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €297.4m (up 3.4% from 3Q 2019). Net income: €61.2m (up 8.8% from 3Q 2019). Profit margin: 21% (up from 20% in 3Q 2019). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 12
Market bids up stock over the past week After last week's 17% share price gain to €4.15, the stock is trading at a trailing P/E ratio of 7.7x, up from the previous P/E ratio of 6.5x. This compares to an average P/E of 11x in the Banks industry in Europe. Total return to shareholders over the past year is a loss of 22%. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue beats expectations Revenue exceeded analyst estimates by 9.0%. Over the next year, revenue is forecast to grow 9.9%, compared to a 18% growth forecast for the Banks industry in Germany. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS €0.18 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €297.4m (up 3.4% from 3Q 2019). Net income: €61.2m (up 8.8% from 3Q 2019). Profit margin: 21% (up from 20% in 3Q 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Oct 29
New 90-day low: €3.50 The company is down 20% from its price of €4.35 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.06 per share. Is New 90 Day High Low • Oct 08
New 90-day low: €3.84 The company is down 10.0% from its price of €4.27 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.38 per share. Is New 90 Day High Low • Sep 23
New 90-day low: €4.05 The company is down 5.0% from its price of €4.28 on 25 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.47 per share.