Announcement • May 22
DFI Retail Group Holdings Limited Announces Changes To The Composition Of Board Committees DFI Retail Group Holdings Limited announced the following changes to the composition of the committees of the board of directors. With effect from May 8, 2026, Christian Nothhaft has stepped down as a member of the Remuneration Committee and Nominations Committee. With effect from May 20, 2026, Irene Liu and Dave Cheesewright have been appointed as members of both the Remuneration Committee and Nominations Committee, while Raymond Co has stepped down as a member of the Remuneration Committee and Nominations Committee. In addition, Dave Cheesewright has stepped down as a member of the Audit Committee with effect from May 20, 2026. Board Change • May 21
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). Independent Non-Executive Director Weiwei Chen is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Achal Agarwal was the last independent director to join the board, commencing their role in 2026. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • May 02
DFI Retail Group Holdings Limited Provides Final Dividend Guidance for 2025, Payable on May 13, 2026 DFI Retail Group Holdings Limited provided final dividend guidance for 2025. For the year, the dividend will be paid on 13 May 2026, subject to approval at the Company's annual general meeting scheduled to be held on 7 May 2026. 2025 final dividend per share: US cents 10.50. GBP equivalent: 7.7711 pence. Announcement • Mar 05
DFI Retail Group Holdings Limited Announces Change of Company Secretary, Effective April 1, 2026 DFI Retail Group Holdings Limited announced that Erica Chan has been appointed as Company Secretary, with effect from April 1, 2026, succeeding Sean Ward. Sean Ward served as Company Secretary of DFI Retail Group Holdings Limited. Announcement • Mar 04
DFI Retail Group Holdings Limited, Annual General Meeting, May 07, 2026 DFI Retail Group Holdings Limited, Annual General Meeting, May 07, 2026. Announcement • Feb 24
DFI Retail Group Holdings Limited Announces the Appointment of Achal Agarwal as Independent Non-Executive Director and Member of Audit Committee, Effective 2 March 2026 DFI Retail Group Holdings Limited announced the appointment of Achal Agarwal to its Board as an Independent Non-Executive Director, effective 2 March 2026. Achal will also join the Audit Committee with effect from the same date. Achal is a seasoned global business leader with over 40 years of experience in multinational consumer goods and corporate transformation. He has held senior executive positions at Kimberly-Clark Corporation, including President of Asia Pacific, and Global Chief Strategy & Transformation Officer. He previously led major business units for PepsiCo across Greater China and India. Achal also brings extensive board and advisory experience. He currently serves as an independent non-executive director of Amcor PLC and as chair of AVPN. Achal was also a non-executive director of SATS Ltd. and chairman of World Wide Fund for Nature (WWF), Singapore. He acted as a Luminary Senior Advisor to Accenture, and serves on the Sustainability Advisory Panel of Sentosa. His deep regional expertise, strategic insight, and strong track record in transformation and governance make him a highly valuable addition to the Board. Achal holds a bachelor's degree (Hons) in History and an MBA in Management Studies, both from the University of Delhi, as well as an Advanced Management Programme certification from The Wharton School, University of Pennsylvania. Achal Agarwal has held directorship in the following listed companies in the past five years: SATS Limited, Non-executive Director-Resigned in July 2025; and Amcor Plc, Non-executive Director-Since November 2021. Announcement • Feb 06
DFI Retail Group Holdings Limited to Report Fiscal Year 2025 Results on Mar 03, 2026 DFI Retail Group Holdings Limited announced that they will report fiscal year 2025 results After-Market on Mar 03, 2026 Announcement • Nov 01
DFI Retail Group Holdings Limited Announces Board and Committee Changes, effective from 1 November 2025 DFI Retail Group Holdings Limited announced the following changes to the Board, with effect from 1 November 2025: Lincoln Pan will be appointed as Chair of the Company's Board, as well as Chair of the Remuneration and Nominations Committees. Lincoln will succeed John Witt, who will step down as Chair and as a member of the Board and its committees. Lincoln was previously at PAG, the largest fully diversified alternative investment business in the Asia Pacific region, where he was a Partner and co-head of Private Equity and a member of the Group Executive Committee. Prior to that, he held the role of Chief Executive Officer, Greater China at Willis Towers Watson, served in executive roles at Advantage Partners and GE Capital, and worked at McKinsey & Company. In connection with the above Board appointment, Lincoln has held directorships in the following listed companies in the past five years: Cushman & Wakefield as Non-executive Director,Resigned March 2024,Regional Express Holdings Limited as Non-executive Director, Resigned May 2025. Announcement • May 02
DFI Retail Group Holdings Limited Proposes Final Dividend for 2024, Payable on 14 May 2025 DFI Retail Group Holdings Limited announced final dividend for 2024 of 7.00 US cents per share or GBP equivalent: 5.2204 pence per share. The dividend will be paid on 14 May 2025, subject to approval at the Annual General Meeting. Announcement • Mar 25
MACROVALUE SDN. BHD. entered into an agreement to acquire Cold Storage Singapore (1983) Pte Ltd from DFI Retail Group Holdings Limited (SGX:D01) for approximately SGD 130 million. MACROVALUE SDN. BHD. entered into an agreement to acquire Cold Storage Singapore (1983) Pte Ltd from DFI Retail Group Holdings Limited (SGX:D01) for approximately SGD 130 million on March 24, 2025. A cash consideration of SGD 125 million will be paid by MACROVALUE SDN. BHD. As part of consideration, SGD 125 million is paid towards common equity of Cold Storage Singapore (1983) Pte Ltd.
The initial purchase price for the transaction is subject to adjustments. The transaction is also subject to customary closing conditions and is expected to complete in the second half of 2025. Announcement • Mar 12
DFI Retail Group Holdings Limited to Report First Half, 2025 Results on Jul 24, 2025 DFI Retail Group Holdings Limited announced that they will report first half, 2025 results on Jul 24, 2025 Announcement • Feb 22
DFI Retail Group Holdings Limited to Report Fiscal Year 2024 Results on Mar 10, 2025 DFI Retail Group Holdings Limited announced that they will report fiscal year 2024 results After-Market on Mar 10, 2025 Announcement • Feb 11
DFI Retail Group Appoints Yoep Man as CEO of 7-Eleven DFI Retail Group Holdings Limited appointed Yoep Man as CEO of 7-Eleven operations for four key Asia Pacific (APAC) markets: South China, Hong Kong, Macau and Singapore. DFI Retail Group, which operates the convenience chain in these regions, has a network of nearly 3,000 stores. Man will drive strategic direction and enhance the operational performance of 7-Eleven's convenience retail business within these regions, with a focus on innovation and customer-centric growth. In addition to his CEO role, he will also become a member of the group's management committee, contributing to the overall leadership and strategic decisions of the organisation. DFI Retail Group CEO Scott Price stated: "We are pleased to appoint Yoep as CEO of 7-Eleven for South China, Hong Kong, Macau and Singapore. "His appointment aligns perfectly with customer-first approach, given his proven ability to enhance customer experiences and drive innovation. Yoep's success in leading food business in Singapore, coupled with his deep understanding of the Asian retail landscape, positions him well to accelerate 7-Eleven's growth. His expertise in digital transformation and operational excellence will be crucial in evolving convenience retail offerings to meet and exceed customer expectations across these key markets. Announcement • Feb 06
DFI Retail Group Holdings Limited Announces Directorate Change, Effective 17 February 2025 DFI Retail Group Holdings Limited announced the appointment of Elaine Chang to its Board as an Independent Non-Executive Director, effective 17 February 2025. Elaine Chang is an accomplished global leader with 30 years of experience across the United States and Greater China, spanning industries such as semiconductors, hardware devices, digital content, e-commerce, cloud computing, and artificial intelligence. She recently served as Corporate Vice President, Generative AI and Machine Learning Go-to-Market, at Amazon Web Services (AWS). During her tenure at AWS Greater China from 2019 to 2023, Elaine led the business through a period of significant growth, tripling revenue and establishing AWS as a key enabler of digital transformation for local and international companies. Prior to that, she held senior leadership roles at Amazon, including President of Amazon China and Country Manager of Kindle China, where she spearheaded transformative initiatives that enhanced Amazon's cross-border e-commerce offerings and digital publishing ecosystem. The Group announced that Ben Keswick will be stepping down from the Board, effective 17 February 2025,to focus on other priorities within the Jardine business. As a Director and previously as Chairman of the Board, Ben has been a valued leader and has played an integral role in guiding DFI's strategy and growth for many years. Announcement • Dec 10
DFI Retail Group Holdings Limited Announces Company Secretary Changes DFI Retail Group Holdings Limited (the Company) announced that Sean Ward be appointed as company secretary, with effect from 10 December 2024, succeeding Jonathan Lloyd. New Risk • Oct 03
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 7.5% 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 Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Dividend is not well covered by earnings (96% payout ratio). Share price has been volatile over the past 3 months (7.5% average weekly change). Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.89, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Consumer Retailing industry in Europe. Total loss to shareholders of 27% over the past three years. Upcoming Dividend • Aug 18
Upcoming dividend of US$0.035 per share Eligible shareholders must have bought the stock before 22 August 2024. Payment date: 16 October 2024. Payout ratio is on the higher end at 96%, however this is supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (4.0%). Reported Earnings • Aug 05
First half 2024 earnings released: EPS: US$0.071 (vs US$0.006 in 1H 2023) First half 2024 results: EPS: US$0.071 (up from US$0.006 in 1H 2023). Revenue: US$4.40b (down 3.7% from 1H 2023). Net income: US$95.1m (up US$86.9m from 1H 2023). Profit margin: 2.2% (up from 0.2% in 1H 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 04
First half dividend of US$0.035 announced Shareholders will receive a dividend of US$0.035. Ex-date: 22nd August 2024 Payment date: 16th October 2024 Dividend yield will be 5.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not adequately covered by earnings (90.4% earnings payout ratio). However, it is well covered by cash flows (16% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share is expected to grow by 106% over the next 3 years, which should maintain adequate earnings cover for the dividend. Announcement • Jul 16
DFI Retail Group Holdings Limited Announces Board Changes, Effective July 22, 2024 DFI Retail Group Holdings Limited announced the following changes to the Board, with effect from 22 July 2024: John Witt will be appointed as Chair of the Board of the Company. He will succeed Ben Keswick who will step down as Chair. John will be appointed as Chair of its Remuneration and Nominations Committees while Ben will step down from the same Committees. Ben will remain as a Non-Executive Director of the Company. At the same time, Graham Baker will join the Board of the Company as a Non-Executive Director and will step down from the Remuneration Committee, while Adam Keswick will step down as a Non-Executive Director of the Company and from the Nominations Committee. Christian Nothhaft, an Independent Non-Executive Director of the Company, will be appointed as a member of the Company's Remuneration and Nominations Committees. Graham Baker joined the Board of Jardine Matheson HoldingsLimitedas Group Finance Director in 2020. He was an Executive Director and Chief Financial Officer of Smith+Nephew in the United Kingdom from 2017 to 2020 and prior to that, worked for 20 years for AstraZeneca PLC in a range of finance roles. Announcement • May 03
DFI Retail Group Holdings Limited Proposes 2023 Final Dividend, Payable on 15 May 2024 DFI Retail Group Holdings Limited announced 2023 final dividend of 5.00 US cents per share or GBP equivalent: 3.9919 pence per share. The dividend will be paid on 15th May 2024, subject to approval at the Annual General Meeting. Reported Earnings • Apr 11
Full year 2023 earnings released: EPS: US$0.024 (vs US$0.085 loss in FY 2022) Full year 2023 results: EPS: US$0.024 (up from US$0.085 loss in FY 2022). Revenue: US$9.17b (flat on FY 2022). Net income: US$32.2m (up US$146.8m from FY 2022). Profit margin: 0.4% (up from net loss in FY 2022). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Announcement • Apr 10
DFI Retail Group Holdings Limited to Report First Half, 2024 Results on Aug 01, 2024 DFI Retail Group Holdings Limited announced that they will report first half, 2024 results on Aug 01, 2024 Upcoming Dividend • Mar 14
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 15 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: 4.6%. Lower than top quartile of German dividend payers (5.0%). Higher than average of industry peers (4.1%). New Risk • Mar 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 42% 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: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Dividend is not well covered by earnings (334% payout ratio). Large one-off items impacting financial results. Announcement • Mar 08
DFI Retail Group Holdings Limited, Annual General Meeting, May 08, 2024 DFI Retail Group Holdings Limited, Annual General Meeting, May 08, 2024. Reported Earnings • Mar 08
Full year 2023 earnings released: EPS: US$0.024 (vs US$0.085 loss in FY 2022) Full year 2023 results: EPS: US$0.024 (up from US$0.085 loss in FY 2022). Revenue: US$9.17b (flat on FY 2022). Net income: US$32.2m (up US$146.8m from FY 2022). Profit margin: 0.4% (up from net loss in FY 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in Europe. 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. Buy Or Sell Opportunity • Feb 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to €1.82. The fair value is estimated to be €2.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.2% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.1% to €1.81. The fair value is estimated to be €2.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.2% over the last 3 years. Meanwhile, the company became loss making. Board Change • Feb 05
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 Dave Cheesewright 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. Buy Or Sell Opportunity • Jan 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to €1.77. The fair value is estimated to be €2.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.2% over the last 3 years. Meanwhile, the company became loss making. Announcement • Dec 05
DFI Retail Group Holdings Limited Announces Change in Composition of Audit Committee, Effective January 31, 2024 DFI Retail Group Holdings Limited announced that Weiwei Chan, an Independent Non-Executive Director of the Company, is appointed as the Chair of the Audit Committee of the Company in place of Anthony Nightingale with effect from 31st January 2024. Announcement • Nov 25
Anthony Nightingale Resigns from the Board and the Audit Committee of DFI Retail Group Holdings Limited DFI Retail Group Holdings Limited announces that Anthony Nightingale will step down from the Board and the Audit Committee of the Company, in each case, with effect from 31st January 2024, and would like to thank him for his contribution to the Company during his tenure. Announcement • Nov 21
Peter Koh Pang An and his wife acquired Jelita Shopping Centre from DFI Retail Group Holdings Limited (SGX:D01) for SGD 91.68 million. Peter Koh Pang An and his wife acquired Jelita Shopping Centre from DFI Retail Group Holdings Limited (SGX:D01) for SGD 91.68 million on November 19, 2023. JLL, as the exclusive advisor to DFI Retail Group went to the market with it on June 5, 2023 at a guide price of SGD 85 million.
Peter Koh Pang An and his wife completed the acquisition of Jelita Shopping Centre from DFI Retail Group Holdings Limited (SGX:D01) on November 19, 2023. Announcement • Sep 28
DFI Retail Group Holdings Limited Declares 2023 Interim Dividend, Payable on October 11, 2023 DFI Retail Group Holdings Limited announced 2023 interim dividend of 3.00 US cent per share will be payable on 11th October 2023. GBP equivalent: 2.4686 pence. Announcement • Sep 09
DFI Retail Group Holdings Limited Announces the Appointment of Dave Cheesewright as Member of the Audit Committee DFI Retail Group Holdings Limited announced that Dave Cheesewright, an Independent Non-Executive Director of the Company, has been appointed as a member of the Audit Committee of the Company with effect from 8 September 2023. Upcoming Dividend • Aug 10
Upcoming dividend of US$0.03 per share at 1.9% yield Eligible shareholders must have bought the stock before 17 August 2023. Payment date: 11 October 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.3%). New Risk • Aug 01
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 1.9% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Jul 30
First half 2023 earnings released: EPS: US$0.006 (vs US$0.043 loss in 1H 2022) First half 2023 results: EPS: US$0.006 (up from US$0.043 loss in 1H 2022). Revenue: US$4.57b (flat on 1H 2022). Net income: US$8.20m (up US$65.8m from 1H 2022). Profit margin: 0.2% (up from net loss in 1H 2022). Revenue is forecast to grow 4.1% 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, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Jul 29
DFI Retail Group Holdings Limited Declares Interim Dividend, Payable on October 11, 2023 DFI Retail Group Holdings Limited announced interim dividend of 3.00 US cent per share will be payable on 11th October 2023 to shareholders on the register of members at the close of business on 18th August 2023. The shares will be quoted ex-dividend on 17th August 2023, and the share registers will be closed from 21st to 25th August 2023, inclusive. Reported Earnings • Apr 08
Full year 2022 earnings released: US$0.085 loss per share (vs US$0.076 profit in FY 2021) Full year 2022 results: US$0.085 loss per share (down from US$0.076 profit in FY 2021). Revenue: US$9.17b (flat on FY 2021). Net loss: US$114.6m (down 211% from profit in FY 2021). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing 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. Upcoming Dividend • Mar 09
Upcoming dividend of US$0.02 per share at 1.0% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 10 May 2023. 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 (4.8%). Lower than average of industry peers (4.9%). Reported Earnings • Mar 03
Full year 2022 earnings released: US$0.085 loss per share (vs US$0.076 profit in FY 2021) Full year 2022 results: US$0.085 loss per share (down from US$0.076 profit in FY 2021). Revenue: US$9.17b (up 1.8% from FY 2021). Net loss: US$114.6m (down 211% from profit in FY 2021). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Consumer Retailing industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Non-Executive Director Christian Nothhaft 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 • Sep 29
DFI Retail Group Holdings Limited Announces Dividend Declaration, Payable on 12 October 2022 DFI RETAIL GROUP HOLDINGS LIMITED announced 2022 interim dividend of the above Company. The dividend will be paid on 12th October 2022. 2022 interim dividend per share: USD cent 1.00. GBP equivalent: 0.9366 penny. Upcoming Dividend • Aug 11
Upcoming dividend of US$0.01 per share Eligible shareholders must have bought the stock before 18 August 2022. Payment date: 12 October 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.3%). Reported Earnings • Jul 29
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down US$16.7m from profit in 1H 2021). Profit margin: (down from 0.4% in 1H 2021). Over the next year, revenue is forecast to grow 8.7%, compared to a 7.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Non-Executive Director Christian Nothhaft 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 • Apr 09
Full year 2021 earnings released: EPS: US$0.076 (vs US$0.20 in FY 2020) Full year 2021 results: EPS: US$0.076 (down from US$0.20 in FY 2020). Revenue: US$9.02b (down 12% from FY 2020). Net income: US$102.9m (down 62% from FY 2020). Profit margin: 1.1% (down from 2.6% in FY 2020). Over the next year, revenue is forecast to grow 5.5%, compared to a 7.7% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 10
Upcoming dividend of US$0.065 per share Eligible shareholders must have bought the stock before 17 March 2022. Payment date: 11 May 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.8%. Within top quartile of German dividend payers (3.5%). In line with average of industry peers (3.8%). Announcement • Mar 06
Dairy Farm International Holdings Limited, Annual General Meeting, May 05, 2022 Dairy Farm International Holdings Limited, Annual General Meeting, May 05, 2022. Agenda: To consider a final dividend. Announcement • Mar 05
Dairy Farm International Holdings Limited Recommends Final Dividend for 2021, Payable on May 11, 2022 The Board of Dairy Farm International Holdings Limited is recommending a final dividend of 6.50 US Cents per share, giving a total dividend of 9.50 US cents per share for the year, a 42% reduction compared to 2020. The final dividend will be payable on 11 May 2022, subject to approval at the Annual General Meeting to be held on 5 May 2022, to shareholders on the register of members at the close of business on 18 March 2022. The shares will be quoted ex-dividend on 17 March 2022, and the share registers will be closed from 21 to 25 March 2022, inclusive. Reported Earnings • Mar 04
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: US$0.076 (down from US$0.20 in FY 2020). Revenue: US$9.02b (down 12% from FY 2020). Net income: US$102.9m (down 62% from FY 2020). Profit margin: 1.1% (down from 2.6% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.4%. Over the next year, revenue is forecast to grow 24%, compared to a 8.3% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Executive Departure • Dec 02
Non Executive Director Yiu Kai Pang has left the company On the 30th of November, Yiu Kai Pang's tenure as Non Executive Director ended after 5.3 years in the role. We don't have any record of a personal shareholding under Yiu Kai's name. A total of 7 executives have left over the last 12 months. The current median tenure of the management team is 2.25 years. Executive Departure • Dec 02
Independent Non Executive Director Delman Lee has left the company On the 30th of November, Delman Lee's tenure as Independent Non Executive Director ended after 3.6 years in the role. We don't have any record of a personal shareholding under Delman's name. A total of 7 executives have left over the last 12 months. The current median tenure of the management team is 2.25 years. Executive Departure • Dec 02
Independent Non Executive Director Clive Schlee has left the company On the 30th of November, Clive Schlee's tenure as Independent Non Executive Director ended after 1.6 years in the role. We don't have any record of a personal shareholding under Clive's name. A total of 7 executives have left over the last 12 months. The current median tenure of the management team is 2.25 years. Executive Departure • Dec 02
Non Executive Director Edward Percy Keswick Weatherall has left the company On the 30th of November, Edward Percy Keswick Weatherall's tenure as Non Executive Director ended. As of September 2021, Edward Percy Keswick still personally held 200.00k shares (€580k worth at the time). A total of 7 executives have left over the last 12 months. The current median tenure of the management team is 2.25 years. Executive Departure • Dec 02
Non Executive Director George Joseph Ho has left the company On the 30th of November, George Joseph Ho's tenure as Non Executive Director ended. We don't have any record of a personal shareholding under George Joseph's name. A total of 7 executives have left over the last 12 months. The current median tenure of the management team is 2.25 years. Upcoming Dividend • Aug 12
Upcoming dividend of US$0.03 per share Eligible shareholders must have bought the stock before 19 August 2021. Payment date: 13 October 2021. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (3.7%). Reported Earnings • Aug 02
First half 2021 earnings released: EPS US$0.012 (vs US$0.085 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: US$4.54b (down 13% from 1H 2020). Net income: US$16.7m (down 86% from 1H 2020). Profit margin: 0.4% (down from 2.2% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 11
Full year 2020 earnings released: EPS US$0.20 (vs US$0.24 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$10.3b (down 8.3% from FY 2019). Net income: US$271.0m (down 16% from FY 2019). Profit margin: 2.6% (down from 2.9% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Mar 18
Upcoming Dividend of US$0.12 Per Share Will be paid on the 12th of May to those who are registered shareholders by the 25th of March. The trailing yield of 3.8% is in the top quartile of German dividend payers (3.3%), and it is in line with industry peers (4.1%). Reported Earnings • Mar 13
Full year 2020 earnings released: EPS US$0.20 (vs US$0.24 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$10.3b (down 8.3% from FY 2019). Net income: US$271.0m (down 16% from FY 2019). Profit margin: 2.6% (down from 2.9% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue misses expectations Revenue missed analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 4.8%, compared to a 1.6% growth forecast for the Consumer Retailing industry in Germany. Is New 90 Day High Low • Mar 08
New 90-day high: €3.92 The company is up 19% from its price of €3.30 on 08 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.44 per share. Announcement • Dec 04
Jeremy Glyn Parr Steps Down from the Board of Dairy Farm International Holdings Limited Dairy Farm International Holdings Limited announced that Jeremy Glyn Parr stepped down from the Board of the Company on 3 December 2020. Is New 90 Day High Low • Nov 11
New 90-day high: €3.86 The company is up 13% from its price of €3.42 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.69 per share. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 18% share price gain to US$3.86, the stock is trading at a trailing P/E ratio of 23.9x, up from the previous P/E ratio of 20.3x. This compares to an average P/E of 21x in the Consumer Retailing industry in Europe. Total return to shareholders over the past three years is a loss of 37%. Announcement • Oct 29
Mark Spencer Greenberg to Step Down from the Board of Dairy Farm International Holdings Limited, Effective December 31, 2020 Dairy Farm International Holdings Limited announced that Mr. Mark Spencer Greenberg will step down from the Board of the Company with effect from December 31, 2020. Is New 90 Day High Low • Oct 22
New 90-day low: €3.10 The company is down 11% from its price of €3.50 on 24 July 2020. The German market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.51 per share. Recent Insider Transactions • Sep 18
Insider recently bought €320k worth of stock On the 16th of September, George Ho bought around 100k shares on-market at roughly €3.20 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.0m more in shares than they have sold in the last 12 months. 
