Buy Or Sell Opportunity • Jul 15
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to €0.39. The fair value is estimated to be €0.52, 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 has become profitable. Announcement • May 18
11880 Solutions AG, Annual General Meeting, Jun 24, 2026 11880 Solutions AG, Annual General Meeting, Jun 24, 2026, at 11:00 W. Europe Standard Time. New Risk • Apr 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 610% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€15.1m market cap, or US$17.6m). Buy Or Sell Opportunity • Apr 28
Now 22% overvalued Over the last 90 days, the stock has fallen 6.3% to €0.60. The fair value is estimated to be €0.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Apr 24
First quarter 2026 earnings released: €0.01 loss per share (vs €0.03 loss in 1Q 2025) First quarter 2026 results: €0.01 loss per share (improved from €0.03 loss in 1Q 2025). Revenue: €13.1m (down 5.2% from 1Q 2025). Net loss: €346.0k (loss narrowed 57% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Apr 13
11880 Solutions AG to Report Fiscal Year 2025 Results on Apr 23, 2026 11880 Solutions AG announced that they will report fiscal year 2025 results at 12:00 PM, Central European Standard Time on Apr 23, 2026 Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: €0 (vs €0.01 in 3Q 2024) Third quarter 2025 results: EPS: €0 (down from €0.01 in 3Q 2024). Revenue: €13.0m (down 4.8% from 3Q 2024). Net income: €13.0k (down 95% from 3Q 2024). Profit margin: 0.1% (down from 1.9% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 08
Second quarter 2025 earnings released: €0.01 loss per share (vs €0.001 loss in 2Q 2024) Second quarter 2025 results: €0.01 loss per share (further deteriorated from €0.001 loss in 2Q 2024). Revenue: €13.4m (down 2.3% from 2Q 2024). Net loss: €298.0k (loss widened €279.0k from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Jul 19
11880 Solutions AG to Report Q2, 2025 Results on Aug 07, 2025 11880 Solutions AG announced that they will report Q2, 2025 results on Aug 07, 2025 Buy Or Sell Opportunity • Jun 05
Now 21% overvalued Over the last 90 days, the stock has fallen 7.3% to €0.70. The fair value is estimated to be €0.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Announcement • May 19
11880 Solutions AG, Annual General Meeting, Jun 25, 2025 11880 Solutions AG, Annual General Meeting, Jun 25, 2025, at 11:00 W. Europe Standard Time. New Risk • May 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 44% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€17.4m market cap, or US$19.5m). Reported Earnings • May 05
Full year 2024 earnings released: EPS: €0.02 (vs €0.17 loss in FY 2023) Full year 2024 results: EPS: €0.02 (up from €0.17 loss in FY 2023). Revenue: €55.6m (down 2.5% from FY 2023). Net income: €435.0k (up €4.73m from FY 2023). Profit margin: 0.8% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. New Risk • Feb 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 6.8% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€20.1m market cap, or US$20.8m). Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: €0.01 (vs €0.007 loss in 3Q 2023) Third quarter 2024 results: EPS: €0.01 (up from €0.007 loss in 3Q 2023). Revenue: €13.7m (down 2.3% from 3Q 2023). Net income: €265.0k (up €447.0k from 3Q 2023). Profit margin: 1.9% (up from net loss in 3Q 2023). 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 21% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 09
Second quarter 2024 earnings released: €0.001 loss per share (vs €0.06 loss in 2Q 2023) Second quarter 2024 results: €0.001 loss per share (improved from €0.06 loss in 2Q 2023). Revenue: €13.7m (flat on 2Q 2023). Net loss: €19.0k (loss narrowed 99% from 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Jul 29
11880 Solutions AG to Report Q2, 2024 Results on Aug 08, 2024 11880 Solutions AG announced that they will report Q2, 2024 results on Aug 08, 2024 Announcement • May 15
11880 Solutions AG, Annual General Meeting, Jun 19, 2024 11880 Solutions AG, Annual General Meeting, Jun 19, 2024, at 11:00 W. Europe Standard Time. Reported Earnings • May 02
Full year 2023 earnings released: €0.17 loss per share (vs €0.14 loss in FY 2022) Full year 2023 results: €0.17 loss per share (further deteriorated from €0.14 loss in FY 2022). Revenue: €57.1m (up 1.9% from FY 2022). Net loss: €4.29m (loss widened 23% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 36% 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. Announcement • Apr 23
11880 Solutions AG to Report Fiscal Year 2023 Results on Apr 30, 2024 11880 Solutions AG announced that they will report fiscal year 2023 results at 12:00 PM, Central European Standard Time on Apr 30, 2024 New Risk • Feb 22
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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Market cap is less than US$100m (€19.7m market cap, or US$21.4m). New Risk • Feb 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.3% 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: Minor Risks Shareholders have been diluted in the past year (5.3% increase in shares outstanding). Market cap is less than US$100m (€17.6m market cap, or US$19.0m). Reported Earnings • Nov 10
Third quarter 2023 earnings released: €0.01 loss per share (vs €0.015 loss in 3Q 2022) Third quarter 2023 results: €0.01 loss per share (improved from €0.015 loss in 3Q 2022). Revenue: €14.0m (flat on 3Q 2022). Net loss: €182.0k (loss narrowed 49% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 15% per year. Announcement • Nov 07
11880 Solutions AG Launched A New B2B Platform 11880 Solutions AG launched a new B2B platform. At cleverb2b.de, companies can now search for products, manufacturers and service providers in Germany and receive a professional purchasing offer from around 260,000 suppliers. Based on a huge database and highly developed search technology, searchers are quickly and clearly shown suitable suppliers with contact and detailed information. Thanks to a convenient process, offers can be obtained with just a few clicks. Suppliers, in turn, can respond directly to enquiries and thus easily secure orders. With premium placements and intelligent search engine marketing, 11880 offers cleverB2B customers the opportunity to generate more online attention and gain customers more easily via the new platform. Reported Earnings • Aug 13
Second quarter 2023 earnings released: €0.06 loss per share (vs €0.05 loss in 2Q 2022) Second quarter 2023 results: €0.06 loss per share (further deteriorated from €0.05 loss in 2Q 2022). Revenue: €13.7m (flat on 2Q 2022). Net loss: €1.46m (loss widened 18% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 15
First quarter 2023 earnings released: €0.05 loss per share (vs €0.05 loss in 1Q 2022) First quarter 2023 results: €0.05 loss per share (in line with 1Q 2022). Revenue: €14.5m (up 7.8% from 1Q 2022). Net loss: €1.25m (loss narrowed 2.4% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: €0.14 loss per share (down from €0.042 profit in FY 2021). Revenue: €56.0m (flat on FY 2021). Net loss: €3.49m (down 435% from profit in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 75%. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Commercial Services industry in Germany. 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 6% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to €1.40 Down from €1.90, the current price target is provided by 1 analyst. New target price is 30% above last closing price of €1.08. Stock is down 38% over the past year. The company is forecast to post a net loss per share of €0.08 compared to earnings per share of €0.042 last year. Major Estimate Revision • Sep 03
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €60.0m to €56.5m. Losses expected to increase from €0 per share to €0.08. Commercial Services industry in Germany expected to see average net income growth of 8.8% next year. Consensus price target down from €1.90 to €1.40. Share price was steady at €1.19 over the past week. Price Target Changed • Sep 02
Price target decreased to €1.40 Down from €2.00, the current price target is provided by 1 analyst. New target price is 18% above last closing price of €1.19. Stock is down 25% over the past year. The company is forecast to post earnings per share of €0 for next year compared to €0.042 last year. Reported Earnings • Aug 15
Second quarter 2022 earnings released: €0.05 loss per share (vs €0.003 profit in 2Q 2021) Second quarter 2022 results: €0.05 loss per share (down from €0.003 profit in 2Q 2021). Revenue: €13.7m (down 4.9% from 2Q 2021). Net loss: €1.23m (down €1.33m from profit in 2Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 6.2% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Jul 19
11880 Solutions AG to Report Q2, 2022 Results on Aug 10, 2022 11880 Solutions AG announced that they will report Q2, 2022 results on Aug 10, 2022 Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €1.05, the stock trades at a trailing P/E ratio of 55.7x. Average forward P/E is 13x in the Commercial Services industry in Germany. Total loss to shareholders of 43% over the past three years. Reported Earnings • May 12
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: €0.05 loss per share (down from €0.03 loss in 1Q 2021). Revenue: €13.5m (down 6.0% from 1Q 2021). Net loss: €1.28m (loss widened 81% from 1Q 2021). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates by 144%. Over the next year, revenue is forecast to grow 9.8%, compared to a 15% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 12
11880 Solutions Ag Reiterates Revenue Guidance for 2022 11880 Solutions AG reiterated revenue guidance for 2022. For the year the company sticking to revenue guidance of EUR 54.8 million to EUR 60.6 million for 2022. Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 100% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €64.0m to €60.0m. Losses expected to increase from €0.05 per share to €0. Commercial Services industry in Germany expected to see average net income growth of 33% next year. Consensus price target down from €2.00 to €1.90. Share price was steady at €1.50 over the past week. Reported Earnings • Apr 01
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: €0.04 (up from €0.10 loss in FY 2020). Revenue: €56.5m (up 11% from FY 2020). Net income: €1.04m (up €3.35m from FY 2020). Profit margin: 1.8% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 13%, compared to a 26% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 26
Price target increased to €2.00 Up from €1.80, the current price target is provided by 1 analyst. New target price is 20% above last closing price of €1.67. Stock is up 17% over the past year. The company is forecast to post a net loss per share of €0.07 next year compared to a net loss per share of €0.10 last year. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS €0.003 (vs €0.014 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €14.4m (up 21% from 2Q 2020). Net income: €94.0k (up €389.0k from 2Q 2020). Profit margin: 0.7% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Breakeven Date Change • May 24
Forecast breakeven pushed back to 2022 The analyst covering 11880 Solutions previously expected the company to break even in 2021. New forecast suggests losses will reduce by 19% to 2021. The company is expected to make a profit of €1.80m in 2022. Average annual earnings growth of 99% is required to achieve expected profit on schedule. Reported Earnings • May 13
First quarter 2021 earnings released: €0.03 loss per share (vs €0.04 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: €14.4m (up 19% from 1Q 2020). Net loss: €704.0k (loss narrowed 5.8% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Mar 31
11880 Solutions AG Announces Earnings Guidance for 2021 11880 Solutions AG announced that for the 2021 financial year, the company expects to generate consolidated revenue between EUR 54.8 million and EUR 60.6 million. Announcement • Mar 20
11880 Solutions AG to Report Fiscal Year 2020 Results on Mar 30, 2021 11880 Solutions AG announced that they will report fiscal year 2020 results on Mar 30, 2021 Is New 90 Day High Low • Dec 18
New 90-day high: €1.56 The company is up 17% from its price of €1.33 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Commercial Services industry, which is up 27% over the same period. Major Estimate Revision • Nov 28
Analysts increase EPS estimates to -€0.08 The 2020 consensus revenue estimate increased from €48.7m to €50.0m. Analysts raised their EPS forecasts from -€0.15 to -€0.08 in 2020. The Commercial Services industry in Germany is expected to see an average net income growth of 33% next year. The consensus price target increased from €1.80 to €1.90. Share price is up 2.9% to €1.43 over the past week. Reported Earnings • Nov 07
Third quarter 2020 earnings released: €0.01 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: €12.5m (up 3.9% from 3Q 2019). Net loss: €266.0k (loss narrowed 51% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 29
New 90-day low: €1.18 The company is down 11% from its price of €1.33 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 Commercial Services industry, which is down 1.0% over the same period. Is New 90 Day High Low • Sep 27
New 90-day high: €1.44 The company is up 3.0% from its price of €1.40 on 29 June 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is down 2.0% over the same period.