Announcement • May 02
Robert Walters plc Announces Board and Committee Appointments Robert Walters plc announced that Matt Ashley has been appointed as Senior Independent Director, Michaela Tod as Remuneration Committee Chair, and Jane Hesmondhalgh as Non-Executive Director with specific responsibility for workforce engagement. Each will continue to serve on the Audit & Risk, Nominations and Remuneration Committees to which Andrew Rashbass has now also been appointed as a member. Announcement • Mar 11
Robert Walters plc, Annual General Meeting, Apr 30, 2026 Robert Walters plc, Annual General Meeting, Apr 30, 2026. Location: 11 slingsby place, st martins courtyard, wc2e 9ab, london United Kingdom Announcement • Nov 26
Robert Walters plc to Report Fiscal Year 2025 Results on Mar 11, 2026 Robert Walters plc announced that they will report fiscal year 2025 results on Mar 11, 2026 Announcement • Jul 15
Robert Walters plc to Report First Half, 2025 Results on Jul 31, 2025 Robert Walters plc announced that they will report first half, 2025 results on Jul 31, 2025 Announcement • Apr 29
Robert Walters plc Approves Final Dividend Robert Walters plc at its AGM held on April 29, 2025 declared a final dividend of 17.0p per ordinary Share. Announcement • Dec 12
Robert Walters plc to Report Fiscal Year 2024 Results on Mar 06, 2025 Robert Walters plc announced that they will report fiscal year 2024 results on Mar 06, 2025 Recent Insider Transactions • Oct 27
CFO & Director recently bought €89k worth of stock On the 23rd of October, David Bower bought around 20k shares on-market at roughly €4.47 per share. This transaction increased David's direct individual holding by 2x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €111k. This was David's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €4.78, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 16x in the Professional Services industry in Europe. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.35 per share. Upcoming Dividend • Aug 22
Upcoming dividend of UK£0.065 per share Eligible shareholders must have bought the stock before 29 August 2024. Payment date: 27 September 2024. The company is paying out more than 100% of its profits and is paying out 79% of its cash flow. Trailing yield: 6.6%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.3%). Recent Insider Transactions • Aug 05
Independent Non-Executive Chairman recently bought €111k worth of stock On the 2nd of August, Philippe Van de Walle bought around 25k shares on-market at roughly €4.44 per share. This transaction amounted to 91% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Philippe has been a buyer over the last 12 months, purchasing a net total of €162k worth in shares. Declared Dividend • Aug 04
First half dividend of UK£0.065 announced Shareholders will receive a dividend of UK£0.065. Ex-date: 29th August 2024 Payment date: 27th September 2024 Dividend yield will be 6.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (269% earnings payout ratio). However, it is covered by cash flows (79% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 199% to bring the payout ratio under control. EPS is expected to grow by 329% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Aug 02
Robert Walters plc Declares Interim Dividend, Payable on 27 September 2024 Robert Walters plc announced that Board has declared an interim dividend of 6.5 pence per share (H1 2023: 6.5 pence per share), which will be paid on 27 September 2024 to shareholders on the register on 30 August 2024. Announcement • Jun 08
Robert Walters plc to Report First Half, 2024 Results on Aug 01, 2024 Robert Walters plc announced that they will report first half, 2024 results on Aug 01, 2024 New Risk • May 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 7.4% 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 Dividend is not well covered by earnings (117% payout ratio). Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (1.3% net profit margin). Upcoming Dividend • Apr 25
Upcoming dividend of UK£0.17 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 31 May 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.0%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.4%). Declared Dividend • Mar 10
Final dividend of UK£0.17 announced Shareholders will receive a dividend of UK£0.17. Ex-date: 30th April 2024 Payment date: 31st May 2024 Dividend yield will be 5.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 136% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 09
Robert Walters plc Proposes Final Dividend for the Year 2023, Payable on 31 May 2024 Robert Walters plc Proposed final dividend of 17.0 pence per share for the year 2023, taking the total dividend for the year to 23.5 pence per share for 2023 (2022: 23.5 pence), The proposed final dividend of £11.2 million is subject to approval by shareholders at the Annual General Meeting and has not been included as a liability in these financial statements. The final dividend, if approved, will be paid on 31 May 2024 to those shareholders on the register as at 1 May 2024. Reported Earnings • Mar 08
Full year 2023 earnings released: EPS: UK£0.20 (vs UK£0.56 in FY 2022) Full year 2023 results: EPS: UK£0.20 (down from UK£0.56 in FY 2022). Revenue: UK£1.06b (down 3.2% from FY 2022). Net income: UK£13.4m (down 66% from FY 2022). Profit margin: 1.3% (down from 3.6% in FY 2022). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Professional Services industry in Europe. Announcement • Mar 07
Robert Walters plc, Annual General Meeting, Apr 30, 2024 Robert Walters plc, Annual General Meeting, Apr 30, 2024. Location: 11 Slingsby Place, St Martin's Courtyard London United Kingdom Agenda: To consider the final dividend of £11.2m. Announcement • Jan 11
Robert Walters plc to Report Fiscal Year 2023 Results on Mar 07, 2024 Robert Walters plc announced that they will report fiscal year 2023 results on Mar 07, 2024 Upcoming Dividend • Aug 24
Upcoming dividend of UK£0.065 per share at 6.6% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 6.6%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (2.8%). New Risk • Aug 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.3% Last year net profit margin: 3.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks 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 (2.3% net profit margin). Reported Earnings • Aug 02
First half 2023 earnings released: EPS: UK£0.078 (vs UK£0.28 in 1H 2022) First half 2023 results: EPS: UK£0.078 (down from UK£0.28 in 1H 2022). Revenue: UK£548.3m (up 1.8% from 1H 2022). Net income: UK£5.30m (down 73% from 1H 2022). Profit margin: 1.0% (down from 3.6% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Professional Services industry in Europe. New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. High level of non-cash earnings (25% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jul 07
Robert Walters plc to Report First Half, 2023 Results on Aug 01, 2023 Robert Walters plc announced that they will report first half, 2023 results on Aug 01, 2023 Board Change • Jul 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Michaela Tod was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 14
Robert Walters plc Provides Earnings Guidance for the Year Ending 31 December 2023 Robert Walters plc provided earnings guidance for the year ending 31 December 2023. The company considers that profit for the full year ending 31 December 2023 will be significantly lower than current market expectations. Announcement • May 19
Robert Walters plc Announces Directorate Changes, with Effect from 1 June 2023 Robert Walters plc, announced the following Board changes. Steven Cooper, a Non-Executive Director of the Company since 2018, has notified that he will be stepping down from the Board with effect from 1 June 2023 due to upcoming regulatory requirements relating to his role as Chief Executive Officer of Aldermore Group. The Board is sorry to see Steven depart and records its appreciation for his invaluable contributions to the Company over the five years of his tenure. The Company also announced that Michaela Tod and Jane Hesmondhalgh have been appointed to the Board as independent Non-Executive Directors with effect from 1 June 2023. Michaela is an experienced Board member and is currently a Non-Executive Director ofpublicly quoted MYT Netherlands Parent B.V. andAUGA Group AB. Michaela's executive career spanned the consumer products industry including senior executive positions at Dyson where she spent 14 years and latterly served as President of Greater China and Director of Marketing and Direct to Consumer in Japan. More recently, Michaela served as Co-Chief Executive ofProSiebenSat.1Entertainment.Prior to Dyson, Michaela held senior positions at Grey Group and FCB Global. Jane is an experienced senior executive with wide ranging and international experience across the technology sector. Jane is currently Corporate Vice President within Microsoft's Global Commercial business and has held other senior finance positions across Microsoft including Chief Financial Officer, Microsoft International and Chief Financial Officer, Microsoft Global Consumer Business. Prior to joining Microsoft, Jane held senior finance positions at Palm Inc., 3Com, and Boeing. Upcoming Dividend • Apr 21
Upcoming dividend of UK£0.17 per share at 5.7% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 11
Full year 2022 earnings released: EPS: UK£0.56 (vs UK£0.46 in FY 2021) Full year 2022 results: EPS: UK£0.56 (up from UK£0.46 in FY 2021). Revenue: UK£1.10b (up 13% from FY 2021). Net income: UK£39.1m (up 17% from FY 2021). Profit margin: 3.6% (in line with FY 2021). Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Professional Services industry in Europe. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Non-Executive Director Steven Cooper was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 11
Robert Walters plc Announces Board Changes, Effective 1 November 2022 Robert Walters plc announced that after a comprehensive search and selection process, Leslie Van de Walle has been appointed as Non-Executive Chair and will join the Board on 1 November 2022. Leslie will succeed Interim Chair Tanith Dodge who will remain on the Board as Senior Independent Non-Executive Director. Leslie is a Non-Executive Director of HSBC UK Bank plc and will join the board of Greencore Group plc as Chair Designate in December 2022. He is also currently Chair of Euromoney Institutional Investor plc. Leslie has held various non-executive roles and was previously Chair of SIG plc, as well as Deputy Chair at Crest Nicholson Holdings and Senior Independent Director of DCC plc. He also served as Chair of the Robert Walters Group between 2012 and 2018. Leslie's executive career has included serving as Group Chief Executive Officer at Rexam plc and Chief Executive Officer at United Biscuits plc. Upcoming Dividend • Aug 25
Upcoming dividend of UK£0.065 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 41% and the cash payout ratio is 97%. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.6%). Reported Earnings • Jul 29
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down UK£15.1m from profit in 1H 2021). Profit margin: (down from 3.2% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 19%, compared to a 10.0% growth forecast for the industry in Germany. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Steven Cooper was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 14
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 21 April 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (3.9%). Higher than average of industry peers (2.3%). Announcement • Mar 10
Robert Walters plc Proposes Final Dividend, Payable on May 20, 2022 The Board of Robert Walters plc will be recommending a 36% increase in the final dividend to 15.0 pence per share, which combined with the interim dividend of 5.4 pence per share would result in a 32% increase in the total dividend to 20.4 pence per share (2020: 15.5 pence). The final dividend, if approved, will be paid on 20 May 2022 to those shareholders on the register as at 22 April 2022. Reported Earnings • Mar 09
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: UK£0.46 (up from UK£0.08 in FY 2020). Revenue: UK£970.7m (up 3.4% from FY 2020). Net income: UK£33.5m (up 488% from FY 2020). Profit margin: 3.5% (up from 0.6% in FY 2020). Revenue missed analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 31%, compared to a 9.3% growth forecast for the industry in Germany. Board Change • Dec 25
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Steven Cooper was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 06
Founder recently sold €3.3m worth of stock On the 3rd of August, Robert Walters sold around 425k shares on-market at roughly €7.74 per share. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Reported Earnings • Jul 28
First half 2021 earnings released: EPS UK£0.21 (vs UK£0.039 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: UK£468.2m (down 5.7% from 1H 2020). Net income: UK£15.1m (up 439% from 1H 2020). Profit margin: 3.2% (up from 0.6% in 1H 2020). The increase in margin was driven by lower expenses.