New Risk • Jul 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €87.1m (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks High level of debt (41% net debt to equity). Market cap is less than US$100m (€87.1m market cap, or US$99.5m). Reported Earnings • May 14
Second quarter 2026 earnings released: €1.63 loss per share (vs €1.10 loss in 2Q 2025) Second quarter 2026 results: €1.63 loss per share (further deteriorated from €1.10 loss in 2Q 2025). Revenue: €222.7m (down 11% from 2Q 2025). Net loss: €16.4m (loss widened 47% from 2Q 2025). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 29
Price target decreased by 23% to €18.60 Down from €24.20, the current price target is an average from 5 analysts. New target price is 57% above last closing price of €11.85. Stock is down 41% over the past year. The company is forecast to post earnings per share of €0.37 next year compared to a net loss per share of €5.32 last year. Reported Earnings • Feb 13
First quarter 2026 earnings released: €0.27 loss per share (vs €0.36 loss in 1Q 2025) First quarter 2026 results: €0.27 loss per share (improved from €0.36 loss in 1Q 2025). Revenue: €234.1m (down 12% from 1Q 2025). Net loss: €2.76m (loss narrowed 25% from 1Q 2025). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Announcement • Jan 08
Bertrandt Aktiengesellschaft, Annual General Meeting, Feb 18, 2026 Bertrandt Aktiengesellschaft, Annual General Meeting, Feb 18, 2026, at 10:30 W. Europe Standard Time. Reported Earnings • Dec 19
Full year 2025 earnings released: €5.33 loss per share (vs €7.64 loss in FY 2024) Full year 2025 results: €5.33 loss per share (improved from €7.64 loss in FY 2024). Revenue: €977.9m (down 18% from FY 2024). Net loss: €53.8m (loss narrowed 30% from FY 2024). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. New Risk • Aug 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 23% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 05
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: €2.87 loss per share (further deteriorated from €0.69 loss in 3Q 2024). Revenue: €225.6m (down 23% from 3Q 2024). Net loss: €29.0m (loss widened 318% from 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 51%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 28
Price target decreased by 8.9% to €23.00 Down from €25.25, the current price target is an average from 4 analysts. New target price is 16% above last closing price of €19.80. Stock is down 27% over the past year. The company is forecast to post a net loss per share of €2.70 next year compared to a net loss per share of €7.64 last year. Price Target Changed • Jul 21
Price target decreased by 9.3% to €24.50 Down from €27.00, the current price target is an average from 4 analysts. New target price is 21% above last closing price of €20.20. Stock is down 27% over the past year. The company is forecast to post earnings per share of €0.27 next year compared to a net loss per share of €7.64 last year. New Risk • Jul 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jun 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to €21.90. The fair value is estimated to be €27.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.7% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 17
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: €1.10 loss per share (down from €0.42 profit in 2Q 2024). Revenue: €250.0m (down 22% from 2Q 2024). Net loss: €11.2m (down 359% from profit in 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 9.1% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Minor Risks High level of debt (53% net debt to equity). Share price has been volatile over the past 3 months (9.1% average weekly change). Price Target Changed • Apr 29
Price target decreased by 12% to €27.00 Down from €30.75, the current price target is an average from 4 analysts. New target price is 34% above last closing price of €20.15. Stock is down 50% over the past year. The company is forecast to post earnings per share of €2.12 next year compared to a net loss per share of €7.64 last year. New Risk • Feb 15
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 53% 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 (53% net debt to equity). Share price has been volatile over the past 3 months (7.8% average weekly change). Reported Earnings • Feb 14
First quarter 2025 earnings released: €0.36 loss per share (vs €0.78 profit in 1Q 2024) First quarter 2025 results: €0.36 loss per share (down from €0.78 profit in 1Q 2024). Revenue: €266.5m (down 14% from 1Q 2024). Net loss: €3.67m (down 146% from profit in 1Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Feb 13
Upcoming dividend of €0.25 per share Eligible shareholders must have bought the stock before 20 February 2025. Payment date: 24 February 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (2.2%). Price Target Changed • Feb 03
Price target decreased by 10% to €30.75 Down from €34.25, the current price target is an average from 4 analysts. New target price is 53% above last closing price of €20.10. Stock is down 59% over the past year. The company is forecast to post earnings per share of €1.89 next year compared to a net loss per share of €7.64 last year. New Risk • Jan 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. This is currently the only risk that has been identified for the company. Announcement • Jan 08
Bertrandt Aktiengesellschaft, Annual General Meeting, Feb 19, 2025 Bertrandt Aktiengesellschaft, Annual General Meeting, Feb 19, 2025, at 10:30 W. Europe Standard Time. Reported Earnings • Dec 15
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: €7.64 loss per share (down from €3.01 profit in FY 2023). Revenue: €1.19b (up 2.5% from FY 2023). Net loss: €77.2m (down 354% from profit in FY 2023). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 69%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 30% per year whereas the company’s share price has fallen by 29% per year. Price Target Changed • Dec 13
Price target decreased by 9.0% to €32.75 Down from €36.00, the current price target is an average from 4 analysts. New target price is 62% above last closing price of €20.20. Stock is down 61% over the past year. The company is forecast to post a net loss per share of €4.51 compared to earnings per share of €3.01 last year. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment deteriorates as stock falls 14% After last week's 14% share price decline to €18.50, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Professional Services industry in Europe. Total loss to shareholders of 67% over the past three years. Major Estimate Revision • Oct 30
Consensus EPS estimates fall by 70% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€2.66 to -€4.51 per share. Revenue forecast unchanged at €1.22b. Professional Services industry in Germany expected to see average net income growth of 21% next year. Consensus price target down from €36.00 to €34.25. Share price fell 14% to €18.50 over the past week. Price Target Changed • Oct 29
Price target decreased by 7.4% to €34.25 Down from €37.00, the current price target is an average from 4 analysts. New target price is 72% above last closing price of €19.90. Stock is down 56% over the past year. The company is forecast to post a net loss per share of €2.60 compared to earnings per share of €3.01 last year. Major Estimate Revision • Aug 12
Consensus EPS estimates fall by 65% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €3.79 to €1.34 per share. Revenue forecast steady at €1.24b. Net income forecast to grow 80% next year vs 23% growth forecast for Professional Services industry in Germany. Consensus price target down from €42.75 to €37.00. Share price fell 3.2% to €24.50 over the past week. Reported Earnings • Aug 06
Third quarter 2024 earnings released: €0.69 loss per share (vs €0.47 profit in 3Q 2023) Third quarter 2024 results: €0.69 loss per share (down from €0.47 profit in 3Q 2023). Revenue: €294.7m (up 3.4% from 3Q 2023). Net loss: €6.95m (down 248% from profit in 3Q 2023). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 25
Price target decreased by 19% to €53.75 Down from €66.25, the current price target is an average from 4 analysts. New target price is 71% above last closing price of €31.50. Stock is down 34% over the past year. The company is forecast to post earnings per share of €3.77 for next year compared to €3.01 last year. Major Estimate Revision • Jun 25
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €4.22 to €3.77 per share. Revenue forecast steady at €1.26b. Net income forecast to grow 66% next year vs 25% growth forecast for Professional Services industry in Germany. Consensus price target down from €66.25 to €53.75. Share price fell 9.7% to €31.50 over the past week. Reported Earnings • May 16
Second quarter 2024 earnings released: EPS: €0.42 (vs €0.76 in 2Q 2023) Second quarter 2024 results: EPS: €0.42 (down from €0.76 in 2Q 2023). Revenue: €318.5m (up 8.8% from 2Q 2023). Net income: €4.30m (down 44% from 2Q 2023). Profit margin: 1.3% (down from 2.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Feb 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 12% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (101% cash payout ratio). Reported Earnings • Feb 15
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: €0.78 (up from €0.62 in 1Q 2023). Revenue: €308.4m (up 10.0% from 1Q 2023). Net income: €7.92m (up 27% from 1Q 2023). Profit margin: 2.6% (up from 2.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 15
Upcoming dividend of €1.20 per share at 2.4% yield Eligible shareholders must have bought the stock before 22 February 2024. Payment date: 26 February 2024. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (5.1%). In line with average of industry peers (2.4%). Reported Earnings • Dec 15
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: €3.01 (up from €2.09 in FY 2022). Revenue: €1.16b (up 15% from FY 2022). Net income: €30.4m (up 44% from FY 2022). Profit margin: 2.6% (up from 2.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 09
Third quarter 2023 earnings released: EPS: €0.47 (vs €0.12 in 3Q 2022) Third quarter 2023 results: EPS: €0.47 (up from €0.12 in 3Q 2022). Revenue: €285.1m (up 13% from 3Q 2022). Net income: €4.71m (up 295% from 3Q 2022). Profit margin: 1.7% (up from 0.5% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
Bertrandt Aktiengesellschaft acquired Concept AG. Bertrandt Aktiengesellschaft acquired Concept AG on August 4, 2023.Bertrandt Aktiengesellschaft completed the acquisition of Concept AG on August 4, 2023. Reported Earnings • May 14
Second quarter 2023 earnings released: EPS: €0.76 (vs €0.63 in 2Q 2022) Second quarter 2023 results: EPS: €0.76 (up from €0.63 in 2Q 2022). Revenue: €292.7m (up 15% from 2Q 2022). Net income: €7.72m (up 22% from 2Q 2022). Profit margin: 2.6% (in line with 2Q 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 24
Price target increased by 13% to €65.50 Up from €58.00, the current price target is an average from 4 analysts. New target price is 40% above last closing price of €46.80. Stock is up 7.2% over the past year. The company is forecast to post earnings per share of €3.76 for next year compared to €2.09 last year. Reported Earnings • Feb 19
First quarter 2023 earnings released: EPS: €0.62 (vs €0.45 in 1Q 2022) First quarter 2023 results: EPS: €0.62 (up from €0.45 in 1Q 2022). Revenue: €280.5m (up 20% from 1Q 2022). Net income: €6.24m (up 39% from 1Q 2022). Profit margin: 2.2% (up from 1.9% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Feb 16
Upcoming dividend of €0.85 per share at 1.8% yield Eligible shareholders must have bought the stock before 23 February 2023. Payment date: 27 February 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.6%). Major Estimate Revision • Feb 02
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.92 to €3.25. Revenue forecast steady at €1.07b. Net income forecast to grow 55% next year vs 13% growth forecast for Professional Services industry in Germany. Consensus price target of €56.00 unchanged from last update. Share price was steady at €45.70 over the past week. Reported Earnings • Dec 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: €2.09 (up from €0.68 in FY 2021). Revenue: €1.01b (up 19% from FY 2021). Net income: €21.1m (up 206% from FY 2021). Profit margin: 2.1% (up from 0.8% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.6%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 39% 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 • Nov 25
Price target decreased to €57.75 Down from €64.75, the current price target is an average from 4 analysts. New target price is 65% above last closing price of €35.05. Stock is down 36% over the past year. The company is forecast to post earnings per share of €2.41 for next year compared to €0.68 last year. Reported Earnings • Aug 10
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: €0.12 (up from €0.013 in 3Q 2021). Net income: €1.19m (up €1.06m from 3Q 2021). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 25%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jul 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €977.6m to €989.5m. EPS estimate fell from €3.04 to €2.43 per share. Net income forecast to grow 135% next year vs 18% growth forecast for Professional Services industry in Germany. Consensus price target down from €68.75 to €64.75. Share price was steady at €34.50 over the past week. Major Estimate Revision • Jul 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €977.6m to €989.5m. EPS estimate fell from €3.04 to €2.43 per share. Net income forecast to grow 146% next year vs 17% growth forecast for Professional Services industry in Germany. Consensus price target down from €70.87 to €66.75. Share price was steady at €34.55 over the past week. Reported Earnings • May 23
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: €0.63 (up from €0.25 in 2Q 2021). Revenue: €254.1m (up 18% from 2Q 2021). Net income: €6.35m (up 147% from 2Q 2021). Profit margin: 2.5% (up from 1.2% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 10%, compared to a 9.6% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Announcement • May 21
Bertrandt Aktiengesellschaft to Report Q1, 2023 Results on Feb 22, 2023 Bertrandt Aktiengesellschaft announced that they will report Q1, 2023 results on Feb 22, 2023 Price Target Changed • Apr 27
Price target increased to €70.00 Up from €65.25, the current price target is an average from 4 analysts. New target price is 60% above last closing price of €43.75. Stock is down 5.5% over the past year. The company is forecast to post earnings per share of €3.04 for next year compared to €0.68 last year. Reported Earnings • Feb 24
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: €0.45 (up from €0.08 in 1Q 2021). Revenue: €233.2m (up 16% from 1Q 2021). Net income: €4.49m (up 459% from 1Q 2021). Profit margin: 1.9% (up from 0.4% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 13%, compared to a 9.3% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 22
Price target increased to €70.00 Up from €64.25, the current price target is an average from 4 analysts. New target price is 33% above last closing price of €52.80. Stock is up 15% over the past year. The company is forecast to post earnings per share of €3.23 for next year compared to €0.68 last year. Upcoming Dividend • Feb 17
Upcoming dividend of €0.27 per share Eligible shareholders must have bought the stock before 24 February 2022. Payment date: 28 February 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (2.0%). Price Target Changed • Jan 31
Price target increased to €65.25 Up from €60.50, the current price target is an average from 4 analysts. New target price is 26% above last closing price of €51.60. Stock is up 4.7% over the past year. The company is forecast to post earnings per share of €3.29 for next year compared to €0.68 last year. Price Target Changed • Dec 20
Price target increased to €64.25 Up from €58.25, the current price target is an average from 4 analysts. New target price is 17% above last closing price of €55.00. Stock is up 37% over the past year. The company is forecast to post earnings per share of €1.10 for next year compared to €0.37 last year. Reported Earnings • Aug 11
Third quarter 2021 earnings released: EPS €0.013 (vs €0.28 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €214.2m (up 4.3% from 3Q 2020). Net income: €134.0k (up €2.97m from 3Q 2020). Profit margin: 0.1% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Reported Earnings • May 22
Second quarter 2021 earnings released: EPS €0.25 (vs €0.32 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €215.1m (down 12% from 2Q 2020). Net income: €2.57m (down 21% from 2Q 2020). Profit margin: 1.2% (down from 1.3% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 25
First quarter 2021 earnings released: EPS €0.08 (vs €0.86 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: €201.7m (down 23% from 1Q 2020). Net income: €803.0k (down 91% from 1Q 2020). Profit margin: 0.4% (down from 3.3% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue and earnings miss expectations Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 50%. Over the next year, revenue is forecast to grow 14%, compared to a 6.1% growth forecast for the Professional Services industry in Germany. Major Estimate Revision • Feb 03
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from €1.93 to €2.23. Revenue estimate for the same period was approximately flat at €978.9m. Net income is expected to grow by 506% next year compared to 34% growth forecast for the Professional Services industry in Germany. The consensus price target increased from €41.38 to €55.13. Share price is up 24% to €54.30 over the past week. Is New 90 Day High Low • Feb 01
New 90-day high: €49.30 The company is up 60% from its price of €30.75 on 03 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €46.74 per share. Is New 90 Day High Low • Jan 06
New 90-day high: €41.50 The company is up 16% from its price of €35.75 on 08 October 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services 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 €45.93 per share. Reported Earnings • Dec 18
Full year 2020 earnings released: EPS €0.37 The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €916.6m (down 14% from FY 2019). Net income: €3.74m (down 90% from FY 2019). Profit margin: 0.4% (down from 3.7% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 26% per year.