Upcoming Dividend • May 28
Upcoming dividend of €1.30 per share Eligible shareholders must have bought the stock before 04 June 2026. Payment date: 09 June 2026. Payout ratio is a comfortable 47% and the cash payout ratio is 87%. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.0%). Price Target Changed • May 13
Price target increased by 7.1% to €36.50 Up from €34.08, the current price target is an average from 6 analysts. New target price is 16% above last closing price of €31.45. Stock is up 43% over the past year. The company is forecast to post earnings per share of €3.39 for next year compared to €2.77 last year. Major Estimate Revision • May 05
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from €1.83b to €1.89b. EPS estimate increased from €2.87 to €3.24 per share. Net income forecast to grow 20% next year vs 24% growth forecast for Industrials industry in Germany. Consensus price target up from €34.08 to €35.33. Share price rose 11% to €31.85 over the past week. Announcement • Apr 23
INDUS Holding AG, Annual General Meeting, Jun 03, 2026 INDUS Holding AG, Annual General Meeting, Jun 03, 2026, at 10:30 W. Europe Standard Time. Declared Dividend • Mar 26
Dividend increased to €1.30 Dividend of €1.30 is 8.3% higher than last year. Ex-date: 4th June 2026 Payment date: 8th June 2026 Dividend yield will be 4.6%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 25
INDUS Holding AG announces Annual dividend, payable on June 08, 2026 INDUS Holding AG announced Annual dividend of EUR 1.3000 per share payable on June 08, 2026, ex-date on June 04, 2026 and record date on June 05, 2026. Announcement • Dec 23
INDUS Holding AG (XTRA:INH) signed a purchase agreement to acquire 80% stake in Pro Video Handelsges. Mbh Berlin Broadcast- Und Konferenztechnik from Randolf Klann, Jörg Lütjen and Michael Bonewald. INDUS Holding AG (XTRA:INH) signed a purchase agreement to acquire 80% stake in Pro Video Handelsges. Mbh Berlin Broadcast- Und Konferenztechnik from Randolf Klann, Jörg Lütjen and Michael Bonewald on December 22, 2025.
The transaction is subject to subject to antitrust regulations.
Sebastian Kalb, Verena Hellmund and Simon Kohm of LOSCHELDER RECHTSANWÄLTE acted as legal advisor for INDUS Holding AG. Peter Koelen and Katharina Luig of KL&P GmbH Wirtschaftsprüfungsgesellschaft acted as accountant for INDUS Holding AG. Randolf Klann, Jörg Lütjen and Michael Bonewald were advised by IOM Advisory and GÖHMANN Rechtsanwälte und Notare. Reported Earnings • Nov 18
Third quarter 2025 earnings released: EPS: €1.33 (vs €0.68 in 3Q 2024) Third quarter 2025 results: EPS: €1.33 (up from €0.68 in 3Q 2024). Revenue: €447.8m (flat on 3Q 2024). Net income: €33.2m (up 89% from 3Q 2024). Profit margin: 7.4% (up from 3.9% in 3Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Major Estimate Revision • Nov 17
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from €2.54 to €2.91. Revenue forecast steady at €1.74b. Net income forecast to grow 51% next year vs 48% growth forecast for Industrials industry in Germany. Consensus price target up from €32.20 to €34.20. Share price rose 19% to €25.75 over the past week. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €24.50, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Industrials industry in Europe. Total returns to shareholders of 27% over the past three years. Reported Earnings • Aug 14
Second quarter 2025 earnings released: EPS: €0.50 (vs €0.83 in 2Q 2024) Second quarter 2025 results: EPS: €0.50 (down from €0.83 in 2Q 2024). Revenue: €438.2m (up 2.0% from 2Q 2024). Net income: €12.3m (down 43% from 2Q 2024). Profit margin: 2.8% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • May 29
INDUS Holding AG Approves Dividend for the Year 2024 INDUS Holding AG at its AGM held on 27 May 2025, in all voting items on the agenda, a large majority of the shareholders approved the proposals made by the Board of Management and the Supervisory Board. The dividend of EUR 1.20 per share (previous year: EUR 1.20) approved by the Annual Shareholders’ Meeting underlines INDUS’ position as a reliable dividend stock. The dividend yield increases to 5.9% per share (previous year: 5.4%), with a total distribution of EUR 29.9 million. Upcoming Dividend • May 21
Upcoming dividend of €1.20 per share Eligible shareholders must have bought the stock before 28 May 2025. Payment date: 02 June 2025. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (2.3%). Reported Earnings • May 15
First quarter 2025 earnings released: EPS: €0.63 (vs €0.38 in 1Q 2024) First quarter 2025 results: EPS: €0.63 (up from €0.38 in 1Q 2024). Revenue: €406.9m (down 1.7% from 1Q 2024). Net income: €15.8m (up 56% from 1Q 2024). Profit margin: 3.9% (up from 2.5% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Apr 15
INDUS Holding AG, Annual General Meeting, May 27, 2025 INDUS Holding AG, Annual General Meeting, May 27, 2025, at 10:30 W. Europe Standard Time. Major Estimate Revision • Apr 01
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €3.04 to €2.71 per share. Revenue forecast steady at €1.80b. Net income forecast to grow 30% next year vs 17% growth forecast for Industrials industry in Germany. Consensus price target up from €31.67 to €32.33. Share price fell 13% to €24.65 over the past week. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €24.15, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 16x in the Industrials 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 €48.28 per share. Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: €0.68 (vs €0.87 in 3Q 2023) Third quarter 2024 results: EPS: €0.68 (down from €0.87 in 3Q 2023). Revenue: €446.6m (down 3.2% from 3Q 2023). Net income: €17.5m (down 25% from 3Q 2023). Profit margin: 3.9% (down from 5.1% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 15% per year. Announcement • Aug 31
INDUS Holding AG (XTRA:INH) acquired 75% stake in Deckma-Decksmaschinen Und Automation Vertriebsgesellschaft Mit Beschrankter Haftung from Petra Bölkow-Anderwald and Sven Torbeck. INDUS Holding AG (XTRA:INH) acquired 75% stake in Deckma-Decksmaschinen Und Automation Vertriebsgesellschaft Mit Beschrankter Haftung from Petra Bölkow-Anderwald and Sven Torbeck on August 30, 2024. The former sole shareholders of DECKMA, Petra Bölkow-Anderwald and Sven Torbeck, will remain in the company’s management team. INDUS Holding has also secured an option to acquire the remaining 25% of the shares in DECKMA in 2026. With the acquisition of DECKMA, INDUS also takes over a 33% stake in NEXTCORR Ltd.
For the period ending December 31, 2023, Deckma-Decksmaschinen Und Automation Vertriebsgesellschaft Mit Beschrankter Haftung reported total revenue of €19 million.
INDUS Holding AG (XTRA:INH) completed the acquisition of 75% stake in Deckma-Decksmaschinen Und Automation Vertriebsgesellschaft Mit Beschrankter Haftung from Petra Bölkow-Anderwald and Sven Torbeck on August 30, 2024. Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: €0.83 (vs €0.82 in 2Q 2023) Second quarter 2024 results: EPS: €0.83. Revenue: €435.5m (down 4.1% from 2Q 2023). Net income: €21.5m (down 3.7% from 2Q 2023). Profit margin: 4.9% (in line with 2Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Industrials industry in Europe. Price Target Changed • Aug 02
Price target decreased by 11% to €32.38 Down from €36.38, the current price target is an average from 4 analysts. New target price is 50% above last closing price of €21.55. Stock is down 11% over the past year. The company is forecast to post earnings per share of €2.86 for next year compared to €3.10 last year. Major Estimate Revision • Aug 02
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.89b to €1.82b. EPS estimate also fell from €3.52 per share to €3.07 per share. Net income forecast to grow 26% next year vs 35% growth forecast for Industrials industry in Germany. Consensus price target down from €36.38 to €34.88. Share price fell 4.6% to €21.55 over the past week. New Risk • May 24
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 67% 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: Minor Risks High level of debt (67% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • May 16
Upcoming dividend of €1.20 per share Eligible shareholders must have bought the stock before 23 May 2024. Payment date: 27 May 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.4%). Reported Earnings • May 15
First quarter 2024 earnings released: EPS: €0.38 (vs €0.93 in 1Q 2023) First quarter 2024 results: EPS: €0.38 (down from €0.93 in 1Q 2023). Revenue: €415.0m (down 8.2% from 1Q 2023). Net income: €10.2m (down 59% from 1Q 2023). Profit margin: 2.4% (down from 5.5% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 21
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €3.09 (up from €2.68 in FY 2022). Revenue: €1.83b (up 1.1% from FY 2022). Net income: €83.3m (up 16% from FY 2022). Profit margin: 4.6% (up from 4.0% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.6%. 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 Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Mar 16
INDUS Holding AG (XTRA:INH) acquired GESTALT Robotics GmbH. INDUS Holding AG (XTRA:INH) acquired GESTALT Robotics GmbH on March 14, 2024. GESTALT Robotics has generated annual sales of around €5 million.INDUS Holding AG (XTRA:INH) completed the acquisition of GESTALT Robotics GmbH on March 14, 2024. Price Target Changed • Feb 25
Price target increased by 7.2% to €34.67 Up from €32.33, the current price target is an average from 3 analysts. New target price is 54% above last closing price of €22.45. Stock is down 3.4% over the past year. The company is forecast to post earnings per share of €2.09 for next year compared to €2.68 last year. Announcement • Nov 17
INDUS Holding AG Revises Earnings Guidance for the Year 2023 INDUS Holding AG revised earnings guidance for the year 2023. Management lowered its expected sales range down to EUR 1.8-1.9 billion from previously EUR 1.9-2.0 billion (eNuW: EUR 1.82 billion). INDUS still aims for an EBIT between EUR 145-165 million but anticipates being at the lower end of the range (eNuW: EUR 152 million). Major Estimate Revision • Oct 05
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €1.93b to €1.91b. EPS estimate also fell from €2.33 per share to €2.00 per share. Net income forecast to grow 23% next year vs 16% growth forecast for Industrials industry in Germany. Consensus price target of €36.25 unchanged from last update. Share price rose 2.5% to €19.96 over the past week. Announcement • Sep 02
Mutares SE & Co. KGaA (XTRA:MUX) completed the acquisition of SELZER Fertigungstechnik GmbH & Co. KG from INDUS Holding AG (XTRA:INH). Mutares SE & Co. KGaA (XTRA:MUX) agreed to acquire SELZER Fertigungstechnik GmbH & Co. KG from INDUS Holding AG (XTRA:INH) on July 28, 2023. The sale is subject to approval by the federal competition authority. The completion of the transaction is expected in the third quarter of 2023. Martin Kolbinger of Schilling, Zutt & Anschutz acted as legal advisor to Mutares SE & Co. KGaA (XTRA:MUX).
Mutares SE & Co. KGaA (XTRA:MUX) completed the acquisition of SELZER Fertigungstechnik GmbH & Co. KG from INDUS Holding AG (XTRA:INH) on September 1, 2023. The German Federal Cartel Office approved the transaction on August 28, 2023. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: €0.82 (vs €1.16 in 2Q 2022) Second quarter 2023 results: EPS: €0.82 (down from €1.16 in 2Q 2022). Revenue: €454.2m (down 3.4% from 2Q 2022). Net income: €22.3m (down 29% from 2Q 2022). Profit margin: 4.9% (down from 6.7% in 2Q 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jul 29
Mutares SE & Co. KGaA (XTRA:MUX) agreed to acquire SELZER Fertigungstechnik GmbH & Co. KG from INDUS Holding AG (XTRA:INH). Mutares SE & Co. KGaA (XTRA:MUX) agreed to acquire SELZER Fertigungstechnik GmbH & Co. KG from INDUS Holding AG (XTRA:INH) on July 28, 2023. The sale is subject to approval by the federal competition authority. Announcement • Jul 08
Callista Portfolio Holding Gmbh agreed to acquire 100% stake in SCHÄFER Group from INDUS Holding AG (XTRA:INH). Callista Portfolio Holding Gmbh agreed to acquire 100% stake in SCHÄFER Group from INDUS Holding AG (XTRA:INH) on July 7, 2023. SCHÄFER Group generated annual revenue of €16 million for the year ended 2022. The Group comprises SCHÄFER GmbH & Co. KG headquartered in Osnabrück, D.M.S. GmbH Design Modell-Studien headquartered in Munich, KSG Asia Limited, Hong Kong, as well as shares in KSG Automotive Shanghai. The deal is expected to close in third quarter of 2023. Price Target Changed • May 30
Price target increased by 12% to €32.80 Up from €29.25, the current price target is an average from 5 analysts. New target price is 31% above last closing price of €25.10. Stock is down 11% over the past year. The company is forecast to post earnings per share of €2.56 for next year compared to €2.68 last year. Major Estimate Revision • May 23
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.22 to €2.66. Revenue forecast unchanged at €1.95b. Net income forecast to grow 12% next year vs 10% growth forecast for Industrials industry in Germany. Consensus price target of €31.00 unchanged from last update. Share price fell 2.3% to €25.95 over the past week. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: €0.93 (vs €0.17 in 1Q 2022) First quarter 2023 results: EPS: €0.93 (up from €0.17 in 1Q 2022). Revenue: €455.1m (up 1.9% from 1Q 2022). Net income: €24.9m (up 455% from 1Q 2022). Profit margin: 5.5% (up from 1.0% in 1Q 2022). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 12
Upcoming dividend of €0.80 per share at 3.1% yield Eligible shareholders must have bought the stock before 19 May 2023. Payment date: 23 May 2023. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.9%). Major Estimate Revision • May 11
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €2.54 to €2.22 per share. Revenue forecast steady at €1.95b. Net income forecast to shrink 17% next year vs 13% growth forecast for Industrials industry in Germany . Consensus price target up from €29.25 to €31.00. Share price was steady at €26.50 over the past week. Announcement • May 11
INDUS Holding AG Provides Earnings Guidance for the Full Year 2023 INDUS Holding AG provided earnings guidance for the full year 2023. For the period, Company expects sales of between EUR 1.9 billion and EUR 2.0 billion and operating income (EBIT) of between EUR 145 million and EUR 165 million. EBIT margin of between 6% and 8%. Price Target Changed • May 10
Price target increased by 8.8% to €31.00 Up from €28.50, the current price target is an average from 4 analysts. New target price is 15% above last closing price of €27.00. Stock is down 2.5% over the past year. The company is forecast to post earnings per share of €2.22 for next year compared to €2.68 last year. Buying Opportunity • Apr 21
Now 21% undervalued Over the last 90 days, the stock is up 8.5%. The fair value is estimated to be €33.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.4% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 43% in the next 2 years. Reported Earnings • Mar 24
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: €1.83b (up 4.9% from FY 2021). Net income: €72.1m (up 54% from FY 2021). Profit margin: 3.9% (up from 2.7% in FY 2021). Revenue missed analyst estimates by 5.1%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Industrials industry in Europe. Buying Opportunity • Jan 19
Now 21% undervalued Over the last 90 days, the stock is up 37%. The fair value is estimated to be €31.29, 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. Meanwhile, the company became loss making. Price Target Changed • Dec 12
Price target decreased to €24.67 Down from €28.50, the current price target is an average from 3 analysts. New target price is 13% above last closing price of €21.80. Stock is down 31% over the past year. The company is forecast to post a net loss per share of €1.12 compared to earnings per share of €1.78 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: €1.89 loss per share (vs €0.39 profit in 3Q 2021) Third quarter 2022 results: €1.89 loss per share (down from €0.39 profit in 3Q 2021). Revenue: €492.6m (up 10% from 3Q 2021). Net loss: €50.7m (down €61.2m from profit in 3Q 2021). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 17% per year. Reported Earnings • Nov 11
Third quarter 2022 earnings released: €1.89 loss per share (vs €0.39 profit in 3Q 2021) Third quarter 2022 results: €1.89 loss per share (down from €0.39 profit in 3Q 2021). Revenue: €500.4m (up 12% from 3Q 2021). Net loss: €50.7m (down €61.2m from profit in 3Q 2021). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 15% per year. Major Estimate Revision • Oct 28
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from €2.01 to €2.23. Revenue forecast steady at €1.88b. Net income forecast to grow 71% next year vs 27% growth forecast for Industrials industry in Germany. Consensus price target reaffirmed at €28.00. Share price rose 11% to €19.96 over the past week. Price Target Changed • Aug 11
Price target decreased to €29.25 Down from €32.00, the current price target is an average from 4 analysts. New target price is 25% above last closing price of €23.35. Stock is down 35% over the past year. The company is forecast to post earnings per share of €2.14 for next year compared to €1.78 last year. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: €0.59 (vs €0.60 in 2Q 2021) Second quarter 2022 results: EPS: €0.59 (down from €0.60 in 2Q 2021). Revenue: €507.3m (up 12% from 2Q 2021). Net income: €15.9m (down 1.9% from 2Q 2021). Profit margin: 3.1% (down from 3.6% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.2%, compared to a 6.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 10% per year.