Upcoming Dividend • Apr 21
Upcoming dividend of €0.95 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 07 May 2026. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 5.3%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.3%). New Risk • Mar 18
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. High level of non-cash earnings (21% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: €2.47 (vs €1.53 in FY 2024) Full year 2025 results: EPS: €2.47 (up from €1.53 in FY 2024). Revenue: €1.46b (up 7.4% from FY 2024). Net income: €73.0m (up 62% from FY 2024). Profit margin: 5.0% (up from 3.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 08
First half dividend increased to €1.40 Dividend of €1.40 is 65% higher than last year. Ex-date: 28th April 2026 Payment date: 7th May 2026 Dividend yield will be 7.2%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (56% earnings payout ratio) but not covered by cash flows (dividend approximately 8x free cash flows). The dividend has increased by an average of 2.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 2.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 06
Acomo N.V. to Report First Half, 2026 Results on Jul 28, 2026 Acomo N.V. announced that they will report first half, 2026 results on Jul 28, 2026 New Risk • Feb 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.4% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by cash flows (dividend per share is over 8x cash flows per share). New Risk • Jan 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% 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 Debt is not well covered by operating cash flow (4.4% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (dividend per share is over 8x cash flows per share). Board Change • Nov 07
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 Victoria Vandeputte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 07
Acomo N.V. (ENXTAM:ACOMO) reached an agreement to acquire Manuzzi Srl from Finance For Food One, fund managed by Hyle Capital Partners SGR SpA and other minority shareholders. Acomo N.V. (ENXTAM:ACOMO) reached an agreement to acquire Manuzzi Srl from Finance For Food One, fund managed by Hyle Capital Partners SGR SpA and other minority shareholders on October 6, 2025. As part of the acquisition, Manuzzi will continue doing business under its own using the well-known Manuzzi brand and will jointly operate with Acomo Group company Delinuts Netherlands to closely cooperate and explore new markets and business opportunities together. Manuzzi will join Acomo’s Spices & Nuts segment.
The acquisition is subject to customary closing conditions and is expected to close in Q4 of 2025.
NautaDutilh N.V. acted as legal advisor for Acomo N.V. KPMG International Cooperative acted as tax due diligence provider for Acomo N.V. Deloitte Financial Advisory Services B.V. acted as financial due diligence provider for Acomo N.V. Vitale&Co. S.P.A. acted as financial advisor for Hyle Capital Partners SGR SpA and other minority shareholders. ADVANT Nctm acted as legal advisor for Hyle Capital Partners SGR SpA and other minority shareholders. Spada Partners Associazione Professionale acted as accountant for Hyle Capital Partners SGR SpA and other minority shareholders. Board Change • Sep 26
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 Victoria Vandeputte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 04
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 Victoria Vandeputte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 21
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 Victoria Vandeputte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
First half 2025 earnings released: EPS: €1.42 (vs €0.61 in 1H 2024) First half 2025 results: EPS: €1.42 (up from €0.61 in 1H 2024). Revenue: €758.4m (up 14% from 1H 2024). Net income: €42.1m (up 135% from 1H 2024). Profit margin: 5.6% (up from 2.7% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Consumer Retailing industry in Europe. Board Change • Jul 28
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 Victoria Vandeputte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Mar 25
Final dividend increased to €0.85 Dividend of €0.85 is 13% higher than last year. Ex-date: 29th April 2025 Payment date: 7th May 2025 Dividend yield will be 5.7%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (161% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Board Change • Mar 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 Victoria Vandeputte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Mar 16
Final dividend increased to €0.85 Dividend of €0.85 is 13% higher than last year. Ex-date: 29th April 2025 Payment date: 7th May 2025 Dividend yield will be 6.5%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (161% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Board Change • Mar 12
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 Victoria Vandeputte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 11
Full year 2024 earnings released: EPS: €1.53 (vs €1.34 in FY 2023) Full year 2024 results: EPS: €1.53 (up from €1.34 in FY 2023). Revenue: €1.36b (up 7.6% from FY 2023). Net income: €45.2m (up 14% from FY 2023). Profit margin: 3.3% (up from 3.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.2% p.a. on average during the next 2 years, while revenues in the Consumer Retailing industry in Europe are expected to grow by 4.9%. Announcement • Mar 08
Acomo N.V. to Report First Half, 2025 Results on Jul 22, 2025 Acomo N.V. announced that they will report first half, 2025 results on Jul 22, 2025 Board Change • Dec 24
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Non-Executive Director Victoria Vandeputte was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 07
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Non-Executive Director Victoria Vandeputte was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 25
Acomo N.V., Annual General Meeting, Apr 25, 2025 Acomo N.V., Annual General Meeting, Apr 25, 2025. Board Change • Oct 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Non-Executive Director Victoria Vandeputte was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 03
Acomo N.V. entered into an agreement to acquire Caldic Food Service & Retail Sweden AB. Acomo N.V. entered into an agreement to acquire Caldic Food Service & Retail Sweden AB on July 1, 2024. After the closing of the transaction, FSR will be renamed to Delinuts Nordics and will jointly operate with Delinuts Netherlands. The transaction is subject to approval by the investment authorities in FSR's home market of Sweden. The transaction is subject to customary closing conditions, including Swedish Foreign Direct Investment(“FDI”) approval. The transaction is expected to be closed in the current third quarter of 2024. Upcoming Dividend • Apr 23
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 08 May 2024. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (4.2%). Recent Insider Transactions • Apr 04
CFO & Executive Director recently bought €202k worth of stock On the 27th of March, Allard Goldschmeding bought around 12k shares on-market at roughly €17.56 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Allard's only on-market trade for the last 12 months. Reported Earnings • Mar 11
Full year 2023 earnings released: EPS: €1.34 (vs €1.85 in FY 2022) Full year 2023 results: EPS: €1.34 (down from €1.85 in FY 2022). Revenue: €1.27b (down 11% from FY 2022). Net income: €39.7m (down 27% from FY 2022). Profit margin: 3.1% (down from 3.8% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Feb 22
Acomo N.V., Annual General Meeting, Apr 26, 2024 Acomo N.V., Annual General Meeting, Apr 26, 2024, at 10:30 Central European Standard Time. New Risk • Feb 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks High level of debt (64% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jul 28
First half 2023 earnings released: EPS: €0.75 (vs €1.05 in 1H 2022) First half 2023 results: EPS: €0.75 (down from €1.05 in 1H 2022). Revenue: €668.0m (down 6.2% from 1H 2022). Net income: €22.2m (down 29% from 1H 2022). Profit margin: 3.3% (down from 4.4% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 18
Upcoming dividend of €0.80 per share at 7.0% yield Eligible shareholders must have bought the stock before 25 April 2023. Payment date: 03 May 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 7.0%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (4.6%). Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: €1.85 (vs €1.82 in FY 2021) Full year 2022 results: EPS: €1.85 (up from €1.82 in FY 2021). Revenue: €1.42b (up 13% from FY 2021). Net income: €54.7m (up 1.3% from FY 2021). Profit margin: 3.8% (down from 4.3% in FY 2021). The decrease in margin was driven by higher expenses.