New Risk • May 29
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 9.6% 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 (0.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Profit margins are more than 30% lower than last year (0.04% net profit margin). Market cap is less than US$100m (€14.8m market cap, or US$17.3m). Board Change • May 20
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). Member of the Board of Statutory Auditors Lucio Pecorari is the most experienced director on the board, commencing their role in 2023. Independent Director Alberto Bertossi was the last independent director to join the board, commencing their role in 2023. 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 • Apr 16
iVision Tech S.p.A., Annual General Meeting, Apr 30, 2026 iVision Tech S.p.A., Annual General Meeting, Apr 30, 2026, at 15:00 W. Europe Standard Time. Board Change • Dec 30
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 9 new directors. No experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). Member of the Board of Statutory Auditors Lucio Pecorari is the most experienced director on the board, commencing their role in 2023. Independent Director Alberto Bertossi was the last independent director to join the board, commencing their role in 2023. 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 • Apr 15
iVision Tech S.p.A., Annual General Meeting, Apr 29, 2025 iVision Tech S.p.A., Annual General Meeting, Apr 29, 2025, at 12:00 W. Europe Standard Time. New Risk • Sep 27
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Debt is not well covered by operating cash flow (13% operating cash flow to total debt). High level of non-cash earnings (36% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (€12.9m market cap, or US$14.5m). New Risk • Aug 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (18% average weekly change). High level of non-cash earnings (36% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (€12.6m market cap, or US$13.7m). Announcement • May 29
iVision Tech S.p.A. acquired a 51% stake in Teknoema Srl for €1.02 million. iVision Tech S.p.A. acquired a 51% stake in Teknoema Srl for €1.02 million on May 27, 2024. The remaining 49% of Teknoema's share capital will remain in the hands of the two historic partners who will continue to manage, as has been done successfully and profitably so far.
Pietro Nesci, with 39.2% will continue to carry out the role of Chief Executive Officer, while Barbara Montanari with 9.8% will hold the role of Chief Executive Officer for Operations. Stefano Fulchir will be President of the Board of Directors. As of year ended December 31, 2023, Teknoema reported revenue of €5.5 million, net income of €0.3 million and EBITDA of €0.8 million
iVision Tech S.p.A. completed th acquisition of a 51% stake in Teknoema Srl on May 27, 2024. New Risk • May 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (36% accrual ratio). Market cap is less than US$10m (€7.56m market cap, or US$8.16m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). New Risk • Oct 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.09m (US$9.59m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). High level of non-cash earnings (36% accrual ratio). Market cap is less than US$10m (€9.09m market cap, or US$9.59m). Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (7.3% average weekly change). Announcement • Sep 24
iVision Tech S.p.A. (BIT:IVN) acquired Maison Henry Jullien SAS. iVision Tech S.p.A. (BIT:IVN) acquired Maison Henry Jullien SAS on September 22, 2023.iVision Tech S.p.A. (BIT:IVN) completed the acquisition of Maison Henry Jullien SAS on September 22, 2023. Board Change • Aug 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. 6 non-independent directors. Independent Director Alberto Bertossi was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
