Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: €0.56 (vs €0.064 loss in 3Q 2023) Third quarter 2024 results: EPS: €0.56 (up from €0.064 loss in 3Q 2023). Revenue: €157.4m (up 72% from 3Q 2023). Net income: €55.3m (up €61.6m from 3Q 2023). Profit margin: 35% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Revenue is expected to decline by 4.3% p.a. on average during the next 3 years, while revenues in the Luxury industry in Europe are expected to grow by 6.5%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 30 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 04
Second quarter 2024 earnings released: €0.15 loss per share (vs €0.12 loss in 2Q 2023) Second quarter 2024 results: €0.15 loss per share (further deteriorated from €0.12 loss in 2Q 2023). Revenue: €60.0m (down 16% from 2Q 2023). Net loss: €14.8m (loss widened 30% from 2Q 2023). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • May 13
First quarter 2024 earnings released First quarter 2024 results: Revenue: €81.9m (down 16% from 1Q 2023). Net loss: €5.61m (loss widened €5.29m from 1Q 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Reported Earnings • Mar 15
Full year 2023 earnings released Full year 2023 results: Revenue: €329.4m (down 9.4% from FY 2022). Net loss: €32.1m (loss widened 255% from FY 2022). Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Luxury industry in Europe. Announcement • Mar 15
Aeffe S.p.A., Annual General Meeting, Apr 23, 2024 Aeffe S.p.A., Annual General Meeting, Apr 23, 2024. Agenda: To consider approval of the financial statements of Aeffe S.p.A. closed on December 31, 2023 and related and consequent resolutions; to consider on the company's remuneration policy. The documentation relating to the items on the agenda will be made available to the public in the terms and in the manner established by current legislation. Reported Earnings • Nov 15
Third quarter 2023 earnings released: €0.063 loss per share (vs €0.018 profit in 3Q 2022) Third quarter 2023 results: €0.063 loss per share (down from €0.018 profit in 3Q 2022). Revenue: €91.6m (down 12% from 3Q 2022). Net loss: €6.28m (down 447% from profit in 3Q 2022). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 31
Second quarter 2023 earnings released: €0.11 loss per share (vs €0.062 loss in 2Q 2022) Second quarter 2023 results: €0.11 loss per share (further deteriorated from €0.062 loss in 2Q 2022). Revenue: €71.7m (down 7.2% from 2Q 2022). Net loss: €11.3m (loss widened 87% from 2Q 2022). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Mar 17
Full year 2022 earnings released Full year 2022 results: Revenue: €363.6m (up 9.1% from FY 2021). Net loss: €9.04m (down 175% from profit in FY 2021). Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Francesca Pace was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: €0.018 (vs €0.099 in 3Q 2021) Third quarter 2022 results: EPS: €0.018 (down from €0.099 in 3Q 2021). Revenue: €103.7m (up 7.8% from 3Q 2021). Net income: €1.81m (down 82% from 3Q 2021). Profit margin: 1.7% (down from 10% in 3Q 2021). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €1.07, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Luxury industry in Germany. Total loss to shareholders of 24% over the past three years. Reported Earnings • Aug 02
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €77.2m (flat on 2Q 2021). Net loss: €6.08m (down 164% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 5.5%, compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 15% share price gain to €1.81, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Luxury industry in Europe. Total loss to shareholders of 5.0% over the past three years. Reported Earnings • May 15
First quarter 2022 earnings released First quarter 2022 results: Revenue: €103.5m (up 27% from 1Q 2021). Net income: €8.94m (up 138% from 1Q 2021). Profit margin: 8.6% (up from 4.6% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 3.6%, compared to a 14% growth forecast for the industry in Germany. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Francesca Pace was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €1.82, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Luxury industry in Europe. Total loss to shareholders of 36% over the past three years. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS €0.099 (vs €0.016 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €96.2m (up 7.1% from 3Q 2020). Net income: €9.87m (up €11.5m from 3Q 2020). Profit margin: 10% (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 74 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 19% share price gain to €2.24, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 24x in the Luxury industry in Europe. Total loss to shareholders of 4.3% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improved over the past week After last week's 17% share price gain to €2.14, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 24x in the Luxury industry in Europe. Total loss to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improved over the past week After last week's 24% share price gain to €1.95, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 27x in the Luxury industry in Europe. Total loss to shareholders of 26% over the past three years. Reported Earnings • Aug 03
Second quarter 2021 earnings released: EPS €0.096 (vs €0.11 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €76.7m (up 72% from 2Q 2020). Net income: €9.53m (up €20.4m from 2Q 2020). Profit margin: 12% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 05
Full year 2020 earnings released: €0.21 loss per share (vs €0.12 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €279.6m (down 23% from FY 2019). Net loss: €21.4m (down 283% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 20
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €279.6m (down 23% from FY 2019). Net loss: €21.4m (down 283% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 67% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 19
New 90-day high: €0.93 The company is up 3.0% from its price of €0.90 on 20 August 2020. The German market is also up 3.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Luxury industry, which is up 12% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: €0.016 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: €89.8m (down 8.3% from 3Q 2019). Net loss: €1.63m (down 120% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 12
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 1.5%, compared to a 12% growth forecast for the Luxury industry in Germany. Is New 90 Day High Low • Oct 16
New 90-day low: €0.80 The company is down 15% from its price of €0.95 on 17 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 16% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: €0.85 The company is down 11% from its price of €0.96 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 12% over the same period.