New Risk • Jul 14
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Jun 26
Eckert & Ziegler Se Approves Dividend for the Fiscal Year 2025 Eckert & Ziegler SE announced that The Annual General Meeting of the company held on June 24, 2026, approved the proposal of the Executive Board and Supervisory Board and resolved to pay a dividend of €0.22 per share (previous year: €0.17) for the 2025 fiscal year. Declared Dividend • May 20
Dividend of €0.22 announced Shareholders will receive a dividend of €0.22. Ex-date: 25th June 2026 Payment date: 29th June 2026 Dividend yield will be 1.5%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (46% 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 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Aug 18
Price target decreased by 7.1% to €21.67 Down from €23.33, the current price target is provided by 1 analyst. New target price is 16% above last closing price of €18.63. The company is forecast to post earnings per share of €0.80 for next year compared to €0.64 last year. Announcement • May 08
Eckert & Ziegler SE, Annual General Meeting, Jun 18, 2025 Eckert & Ziegler SE, Annual General Meeting, Jun 18, 2025, at 10:30 W. Europe Standard Time. Announcement • Apr 13
Eckert & Ziegler SE announces Annual dividend, payable on June 23, 2025 Eckert & Ziegler SE announced Annual dividend of EUR 0.5000 per share payable on June 23, 2025, ex-date on June 19, 2025 and record date on June 20, 2025. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: €0.45 (vs €0.45 in 3Q 2023) Third quarter 2024 results: EPS: €0.45. Revenue: €70.1m (up 6.4% from 3Q 2023). Net income: €9.39m (flat on 3Q 2023). Profit margin: 13% (in line with 3Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Medical Equipment industry in Germany. Price Target Changed • Nov 06
Price target decreased by 12% to €55.00 Down from €62.50, the current price target is provided by 1 analyst. New target price is 43% above last closing price of €38.52. The company is forecast to post earnings per share of €1.75 for next year compared to €1.44 last year. Reported Earnings • Aug 11
Second quarter 2024 earnings released: EPS: €0.52 (vs €0.30 in 2Q 2023) Second quarter 2024 results: EPS: €0.52 (up from €0.30 in 2Q 2023). Revenue: €77.8m (up 30% from 2Q 2023). Net income: €10.9m (up 77% from 2Q 2023). Profit margin: 14% (up from 10% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 20
Upcoming dividend of €0.05 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 31% and the cash payout ratio is 91%. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (1.8%). Upcoming Dividend • May 22
Upcoming dividend of €0.05 per share Eligible shareholders must have bought the stock before 29 May 2024. Payment date: 31 May 2024. Payout ratio is a comfortable 31% and the cash payout ratio is 91%. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.8%). Reported Earnings • May 15
First quarter 2024 earnings released: EPS: €0.43 (vs €0.23 in 1Q 2023) First quarter 2024 results: EPS: €0.43 (up from €0.23 in 1Q 2023). Revenue: €67.6m (up 17% from 1Q 2023). Net income: €9.05m (up 91% from 1Q 2023). Profit margin: 13% (up from 8.2% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. New Risk • Apr 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 26
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: €1.44 (up from €1.41 in FY 2022). Revenue: €246.1m (up 11% from FY 2022). Net income: €30.0m (up 2.5% from FY 2022). Profit margin: 12% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Medical Equipment industry in Germany. 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 18% per year, which means it is performing significantly worse than earnings. Declared Dividend • Mar 22
Dividend of €0.05 announced Shareholders will receive a dividend of €0.05. Ex-date: 29th May 2024 Payment date: 31st May 2024 Dividend yield will be 0.1%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 22
Eckert & Ziegler AG Announces Executive Changes Dr. Hakim Bouterfa, Executive Board member of Eckert & Ziegler AG and responsible for clinical development, will leave the Executive Board of Eckert & Ziegler AG at the end of the year and in future will concentrate exclusively on his tasks as Executive Board member of the Eckert & Ziegler subsidiary Pentixapharm AG (PTX). There he will be supported by Dr. Dirk Pleimes and Anna Steeger, who have been newly appointed to the Executive Board of Pentixapharm AG. Following the consolidation of all clinical activities of the Eckert & Ziegler Group within or below PTX in recent months and following the decision to split-off PTX from the Group, Eckert & Ziegler AG no longer requires the position for clinical development within the Executive Board. The founder and Chairman of the Supervisory Board of Eckert & Ziegler AG, Dr. Andreas Eckert, will resign from the Supervisory Board in spring 2024 to also join the Executive Board of Pentixapharm AG. He will accompany the announced split-off. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: €0.45 (vs €0.38 in 3Q 2022) Third quarter 2023 results: EPS: €0.45 (up from €0.38 in 3Q 2022). Revenue: €65.9m (up 15% from 3Q 2022). Net income: €9.38m (up 19% from 3Q 2022). Profit margin: 14% (in line with 3Q 2022). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Announcement • Oct 18
Eckert & Ziegler Strahlen- Und Medizintechnik Ag Confirms Earnings Guidance for the Year 2023 Eckert & Ziegler Strahlen- und Medizintechnik AG confirmed earnings guidance for the year 2023. For the financial year 2023, the company expects sales of just under EUR 230 million. Profit of around EUR 25 million. Buying Opportunity • Sep 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be €37.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 5.1%. For the next 3 years, revenue is forecast to grow by 8.5% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: €0.30 (vs €0.43 in 2Q 2022) Second quarter 2023 results: EPS: €0.30 (down from €0.43 in 2Q 2022). Revenue: €60.0m (up 5.4% from 2Q 2022). Net income: €6.17m (down 30% from 2Q 2022). Profit margin: 10% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Germany. 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 7% per year, which means it is significantly lagging earnings. New Risk • Aug 02
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 217% Dividend yield: 1.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Jul 23
Eckert & Ziegler Strahlen- und Medizintechnik AG Provides Earnings Guidance for the Year 2023 Eckert & Ziegler Strahlen- und Medizintechnik AG provided earnings guidance for the year 2023. For the financial year 2023, the company expects sales of just under EUR 230 million. Profit of around EUR 25 million. Upcoming Dividend • Jun 01
Upcoming dividend of €0.50 per share at 1.3% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 12 June 2023. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (1.7%). Reported Earnings • May 12
First quarter 2023 earnings released: EPS: €0.23 (vs €0.32 in 1Q 2022) First quarter 2023 results: EPS: €0.23 (down from €0.32 in 1Q 2022). Revenue: €57.9m (up 16% from 1Q 2022). Net income: €4.74m (down 28% from 1Q 2022). Profit margin: 8.2% (down from 13% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 13% per year. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to €43.42, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 26x in the Medical Equipment industry in Europe. Total returns to shareholders of 34% over the past three years. Announcement • Jan 19
Eckert & Ziegler Strahlen- und Medizintechnik AG Provides Earnings Guidance for the Year 2022 Eckert & Ziegler Strahlen- und Medizintechnik AG provided earnings guidance for the year 2022. For the period, the company is expected to achieve a Group net profit of roughly EUR 30 million and Group sales of around EUR 225 million for the 2022 financial year. The result is thus expected to be around 10% higher than the figures forecasted in July 2022 of around EUR 27 million for Group net profit and around EUR 200 million for Group sales. Price Target Changed • Nov 16
Price target decreased to €120 Down from €152, the current price target is provided by 1 analyst. New target price is 139% above last closing price of €50.20. Stock is down 53% over the past year. The company is forecast to post earnings per share of €1.51 for next year compared to €1.67 last year. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: €0.38 (vs €0.34 in 3Q 2021) Third quarter 2022 results: EPS: €0.38 (up from €0.34 in 3Q 2021). Revenue: €57.2m (up 38% from 3Q 2021). Net income: €7.91m (up 14% from 3Q 2021). Profit margin: 14% (down from 17% in 3Q 2021). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: €0.43 (vs €0.41 in 2Q 2021) Second quarter 2022 results: EPS: €0.43 (up from €0.41 in 2Q 2021). Revenue: €56.9m (up 26% from 2Q 2021). Net income: €8.85m (up 3.9% from 2Q 2021). Profit margin: 16% (down from 19% in 2Q 2021). Over the next year, revenue is forecast to grow 6.5%, compared to a 7.5% growth forecast for the industry in Germany. 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 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 26
Upcoming dividend of €0.50 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 06 June 2022. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (4.3%). In line with average of industry peers (1.2%). Reported Earnings • May 14
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: €0.32 (down from €0.67 in 1Q 2021). Revenue: €49.9m (up 13% from 1Q 2021). Net income: €6.56m (down 52% from 1Q 2021). Profit margin: 13% (down from 31% in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 27%. Over the next year, revenue is forecast to grow 13%, compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 16% per year. Price Target Changed • Apr 27
Price target decreased to €152 Down from €172, the current price target is provided by 1 analyst. New target price is 228% above last closing price of €46.30. Stock is down 41% over the past year. The company is forecast to post earnings per share of €1.49 for next year compared to €1.67 last year. Price Target Changed • Apr 07
Price target decreased to €152 Down from €172, the current price target is provided by 1 analyst. New target price is 162% above last closing price of €58.00. Stock is down 17% over the past year. The company is forecast to post earnings per share of €1.49 for next year compared to €1.67 last year. Reported Earnings • Apr 01
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: €1.67 (up from €1.11 in FY 2020). Revenue: €180.4m (up 2.4% from FY 2020). Net income: €34.5m (up 51% from FY 2020). Profit margin: 19% (up from 13% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 27%. Over the next year, revenue is forecast to grow 25%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €51.75, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 29x in the Medical Equipment industry in Germany. Total returns to shareholders of 146% over the past three years. Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS €0.34 (vs €0.24 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: €41.5m (down 4.0% from 3Q 2020). Net income: €6.97m (up 39% from 3Q 2020). Profit margin: 17% (up from 12% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 102% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €107, the stock trades at a forward P/E ratio of 68x. Average forward P/E is 41x in the Medical Equipment industry in Germany. Total returns to shareholders of 873% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS €0.41 (vs €0.37 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: €45.3m (up 16% from 2Q 2020). Net income: €8.52m (up 11% from 2Q 2020). Profit margin: 19% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 123% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • May 27
Upcoming dividend of €0.45 per share Eligible shareholders must have bought the stock before 03 June 2021. Payment date: 07 June 2021. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (1.1%). Price Target Changed • May 23
Price target increased to €121 Up from €80.00, the current price target is provided by 1 analyst. New target price is 41% above last closing price of €85.30. Stock is up 149% over the past year. Reported Earnings • May 19
First quarter 2021 earnings released The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: €44.2m (flat on 1Q 2020). Net income: €13.7m (up 174% from 1Q 2020). Profit margin: 31% (up from 11% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 27
Eckert & Ziegler Strahlen- und Medizintechnik AG Provides Financial Guidance for 2021 Eckert & Ziegler Strahlen- und Medizintechnik AG provided financial guidance for 2021. For the current financial year 2021, the Executive Board expects revenue to remain at the previous year's level, net profit of around EUR 29 million and EPS of around EUR 1.40. Announcement • Feb 10
Eckert & Ziegler Wins Order for Hot Cell Construction from Dutch Research Center Eckert & Ziegler has been awarded a contract to build hot cells with a value of several million euros. The order was placed by the Nuclear Research and Consultancy Group (NRG) in Petten (NL), a global market leader in producing medical isotopes. The contract includes the planning and construction of hot cells for the GMP-compliant processing of alpha and beta emitters in NRG's so-called FIELD-LAB at the Petten (NL) site. The FIELD-LAB is intended to provide a practical environment for companies and research institutes to develop radiopharmaceuticals for the personalized treatment of cancer and other diseases. Is New 90 Day High Low • Feb 02
New 90-day high: €59.60 The company is up 48% from its price of €40.30 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 21% over the same period. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 21% share price gain to €55.65, the stock is trading at a trailing P/E ratio of 49.8x, up from the previous P/E ratio of 41.2x. This compares to an average P/E of 47x in the Medical Equipment industry in Germany. Total returns to shareholders over the past three years are 512%. Is New 90 Day High Low • Jan 13
New 90-day high: €45.96 The company is up 6.0% from its price of €43.50 on 15 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 7.0% over the same period. Announcement • Nov 27
Eckert & Ziegler Strahlen- und Medizintechnik AG, Annual General Meeting, Jun 02, 2021 Eckert & Ziegler Strahlen- und Medizintechnik AG, Annual General Meeting, Jun 02, 2021. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS €0.24 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €43.3m (down 2.0% from 3Q 2019). Net income: €5.03m (down 12% from 3Q 2019). Profit margin: 12% (down from 13% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Oct 09
New 90-day high: €45.34 The company is up 18% from its price of €38.50 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 3.0% over the same period. Announcement • Jul 31
Telix Pharmaceuticals Limited (ASX:TLX) completed the acquisition of Licensed radiopharmaceutical production facility in Seneffe from Eckert & Ziegler Strahlen- und Medizintechnik AG (XTRA:EUZ) Telix Pharmaceuticals Limited (ASX:TLX) entered into a conditional purchase agreement to acquire Licensed radiopharmaceutical production facility in Seneffe from Eckert & Ziegler Strahlen- und Medizintechnik AG (XTRA:EUZ) on October 3, 2019. Telix will acquire the licensed radiopharmaceutical production facility (“Site”) for a nominal cash sum of €1 in addition to assuming the future decommissioning liability associated with the Site. This liability is currently estimated to be up to €5.2 million over the operating lifetime of the Site, with certain downside cost and risk mitigations in place with relevant government agencies as part of the proposed transaction structure. There are no material commercial or human resource liabilities associated with the acquisition of the Site. The timing of this acquisition is important as Telix expects to complete two European product launches in the next 18-24 months (subject to regulatory approvals) and there is significant lead-time to complete the necessary regulatory and compliance requirements for the Site. Telix expects to continue to work with key existing EU contract manufacturing partners for both backup manufacturing and product delivery in certain territories where existing production solutions may be adequate.
The completion of the transaction is subject to several closing conditions related to attaining the requisite regulatory approvals in Belgium. Key closing conditions include receiving approval from Belgium’s Federal Agency for Nuclear Control (FANC) for both the transfer of the licence to Telix and its amendment to enable production activities to commence, as well as repeat verification of key environment testing and regulator audits. Telix Pharmaceuticals Limited has received the approval of FANC. The transaction is anticipated to complete before 31 March 2020. The cost of acquisition, ownership and initial fit-out will not adversely impact the Company’s financial position in either 2019 or 2020.
Telix Pharmaceuticals Limited (ASX:TLX) completed the acquisition of Licensed radiopharmaceutical production facility in Seneffe from Eckert & Ziegler Strahlen- und Medizintechnik AG (XTRA:EUZ) on April 3, 2020.