Declared Dividend • May 20
Dividend increased to €1.30 Dividend of €1.30 is 8.3% higher than last year. Ex-date: 4th June 2026 Payment date: 9th June 2026 Dividend yield will be 4.2%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (47% earnings payout ratio) and cash flows (87% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 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. 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. 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. 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. New Risk • Nov 16
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 68% 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 (68% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (3.6% net profit margin). Reported Earnings • Nov 14
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 52% above last closing price of €21.35. Stock is down 10% 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. 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 (2.5%). 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 9% 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 56% above last closing price of €22.20. Stock is down 10% 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). Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: €0.87 (vs €1.89 loss in 3Q 2022) Third quarter 2023 results: EPS: €0.87 (up from €1.89 loss in 3Q 2022). Revenue: €465.4m (down 5.5% from 3Q 2022). Net income: €23.5m (up €74.2m from 3Q 2022). Profit margin: 5.0% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. 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. 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 30% above last closing price of €25.20. Stock is down 12% 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. 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%). 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 €26.85. Stock is down 1.5% 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 25
Now 20% undervalued Over the last 90 days, the stock is up 9.0%. The fair value is estimated to be €33.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 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 25
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 21
Now 21% undervalued Over the last 90 days, the stock is up 38%. The fair value is estimated to be €31.05, 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 14% above last closing price of €21.60. 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 16% per year. 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 24% above last closing price of €23.55. 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. Upcoming Dividend • May 25
Upcoming dividend of €1.05 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 03 June 2022. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.3%). In line with average of industry peers (3.5%). Reported Earnings • May 13
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: €0.17 (down from €0.49 in 1Q 2021). Revenue: €450.3m (up 12% from 1Q 2021). Net income: €4.49m (down 63% from 1Q 2021). Profit margin: 1.0% (down from 3.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 3.0%, compared to a 9.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 27
Price target decreased to €42.00 Down from €46.25, the current price target is an average from 3 analysts. New target price is 55% above last closing price of €27.05. Stock is down 24% over the past year. The company is forecast to post earnings per share of €2.44 for next year compared to €1.78 last year. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS €0.39 (vs €0.23 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €448.8m (up 14% from 3Q 2020). Net income: €10.5m (up 89% from 3Q 2020). Profit margin: 2.3% (up from 1.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS €0.60 (vs €1.98 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €451.7m (up 21% from 2Q 2020). Net income: €16.2m (up €64.6m from 2Q 2020). Profit margin: 3.6% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 20
Upcoming dividend of €0.80 per share Eligible shareholders must have bought the stock before 27 May 2021. Payment date: 31 May 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (2.5%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS €0.49 (vs €0.34 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: €405.1m (flat on 1Q 2020). Net income: €12.1m (up 44% from 1Q 2020). Profit margin: 3.0% (up from 2.1% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 12
New 90-day high: €35.10 The company is up 11% from its price of €31.75 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Industrials industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.88 per share. Is New 90 Day High Low • Feb 04
New 90-day high: €34.80 The company is up 35% from its price of €25.80 on 06 November 2020. The German market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €37.44 per share. Is New 90 Day High Low • Jan 07
New 90-day high: €33.50 The company is up 22% from its price of €27.50 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €37.11 per share. Is New 90 Day High Low • Dec 05
New 90-day high: €32.90 The company is up 15% from its price of €28.50 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.71 per share. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS €0.23 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €393.4m (down 13% from 3Q 2019). Net income: €5.57m (down 54% from 3Q 2019). Profit margin: 1.4% (down from 2.7% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 16
New 90-day high: €30.35 The company is up 5.0% from its price of €29.00 on 18 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.66 per share. Is New 90 Day High Low • Oct 29
New 90-day low: €24.80 The company is down 13% from its price of €28.50 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 Industrials industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €30.22 per share. Is New 90 Day High Low • Sep 19
New 90-day low: €27.95 The company is down 2.0% from its price of €28.55 on 19 June 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Industrials industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €30.44 per share.