Reported Earnings • May 05
Full year 2025 earnings released: EPS: €0.012 (vs €0.094 in FY 2024) Full year 2025 results: EPS: €0.012 (down from €0.094 in FY 2024). Revenue: €50.2m (up 134% from FY 2024). Net income: €286.0k (down 86% from FY 2024). Profit margin: 0.6% (down from 9.7% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • May 03
New major risk - Revenue and earnings growth Earnings have declined by 18% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risk Earnings have declined by 18% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€67.5m market cap, or US$79.1m). New Risk • Jan 08
New major risk - Revenue and earnings growth Earnings have declined by 24% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risk Earnings have declined by 24% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€66.5m market cap, or US$77.7m). Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: €0.02 (vs €0.008 in 3Q 2024) Third quarter 2025 results: EPS: €0.02 (up from €0.008 in 3Q 2024). Revenue: €17.0m (up 225% from 3Q 2024). Net income: €471.0k (up 165% from 3Q 2024). Profit margin: 2.8% (down from 3.4% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Nov 19
ad pepper media International N.V., Annual General Meeting, Jun 23, 2026 ad pepper media International N.V., Annual General Meeting, Jun 23, 2026. Major Estimate Revision • Oct 23
Consensus EPS estimates fall by 44% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.09 to €0.05 per share. Revenue forecast steady at €57.4m. Net income forecast to grow 29% next year vs 42% growth forecast for Media industry in Germany. Consensus price target of €5.00 unchanged from last update. Share price rose 17% to €3.24 over the past week. Reported Earnings • Aug 22
Second quarter 2025 earnings released: €0.005 loss per share (vs €0.005 profit in 2Q 2024) Second quarter 2025 results: €0.005 loss per share (down from €0.005 profit in 2Q 2024). Revenue: €12.8m (up 145% from 2Q 2024). Net loss: €107.0k (down 195% from profit in 2Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €3.96, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 13x in the Media industry in Germany. Total returns to shareholders of 68% over the past three years. Major Estimate Revision • Jul 30
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from €54.1m to €57.9m. EPS estimate increased from €0.08 to €0.09 per share. Net income forecast to grow 27% next year vs 29% growth forecast for Media industry in Germany. Consensus price target up from €4.10 to €5.00. Share price fell 3.7% to €3.16 over the past week. Announcement • May 14
ad pepper media International N.V., Annual General Meeting, Jun 24, 2025 ad pepper media International N.V., Annual General Meeting, Jun 24, 2025, at 09:30 W. Europe Standard Time. Price Target Changed • May 05
Price target increased by 46% to €4.10 Up from €2.80, the current price target is provided by 1 analyst. New target price is 35% above last closing price of €3.04. Stock is up 41% over the past year. The company is forecast to post earnings per share of €0.08 for next year compared to €0.094 last year. Reported Earnings • May 02
Full year 2024 earnings released: EPS: €0.094 (vs €0.046 loss in FY 2023) Full year 2024 results: EPS: €0.094 (up from €0.046 loss in FY 2023). Revenue: €21.5m (down 1.4% from FY 2023). Net income: €2.07m (up €3.02m from FY 2023). Profit margin: 9.7% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Media 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 fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Apr 24
ad pepper media International N.V. (XTRA:APM) signed a purchase agreement to acquire an additional 14.48% stake in Solute Holding GmbH & Co. Kg from Sutter Telefonbuchverlag GmbH, Rudolf Roser Verlag Und Informationsdienste AG, .Wtv Wurttemberger Medien GmbH & Co. Kg and Verlag Hans Lück GmbH for €3.5 million. ad pepper media International N.V. (XTRA:APM) signed a purchase agreement to acquire an additional 14.48% stake in Solute Holding GmbH & Co. Kg from Sutter Telefonbuchverlag GmbH, Rudolf Roser Verlag Und Informationsdienste AG, .Wtv Wurttemberger Medien GmbH & Co. Kg and Verlag Hans Lück GmbH for €3.5 million on April 24, 2025. A cash consideration of €3.47 million will be paid by ad pepper media International N.V. As part of consideration, €3.47 million is paid towards common equity of Solute Holding GmbH & Co. Kg. ad pepper will pay the purchase price for the acquisition of the shares from its cash reserves. ad pepper will hold a total of 58.86% of the target company after the current transactions, thus becoming a majority stake. In addition, open-ended discussions are continuing with other shareholders of solute with the aim of increasing the stake to a qualified majority stake of 75%, if necessary.
For the period ending December 31, 2024, Solute Holding GmbH & Co. Kg reported total revenue of €44.7 million and EBITDA of €3.9 million.
The transactions are subject to antitrust approval, a committee approval on the part of the sellers, and other customary closing conditions. The consolidation of the stake will take place after the completion of the transactions expected during the second quarter of 2025. Announcement • Feb 26
ad pepper media International N.V. and six shareholders of Solute Holding GmbH & Co. Kg signed a purchase agreement to acquire an additional 18.73% stake in Solute Holding GmbH & Co. Kg from Kunze Medien AG, Vorlander GmbH & Co. Kg, G. Braun Telefonbuchverlage GmbH & Co Kg, Greven Medien GmbH & Co KG, OstthÜRinger Regionaler Telefonbuch-Verlag GmbH and SchlÜTersche Marketing Holding GmbH for €5.6 million. ad pepper media International N.V. and six shareholders of Solute Holding GmbH & Co. Kg signed a purchase agreement to acquire an additional 18.73% stake in Solute Holding GmbH & Co. Kg from Kunze Medien AG, Vorlander GmbH & Co. Kg, G. Braun Telefonbuchverlage GmbH & Co Kg, Greven Medien GmbH & Co KG, OstthÜRinger Regionaler Telefonbuch-Verlag GmbH and SchlÜTersche Marketing Holding GmbH for €5.6 million on February 24, 2025. The purchase price is approximately €4.5 million. As consideration, 2,305,195 new shares in ad pepper will be issued without subscription rights of the current shareholders against contribution in kind. As part of the acquisition, ad pepper will hold 44.37% in solute once the transaction is completed. In addition, the Management Board of ad pepper intends to continue its ongoing discussions with additional shareholders of solute, amongst which Deutsche Tele Medien GmbH with the aim of achieving a majority shareholding and full consolidation of solute in ad pepper’s financial statements. The transaction is regarded as a so-called related party transaction according to Dutch corporate law.
For the period ending December 31, 2024, Solute Holding GmbH & Co. Kg reported total revenue of around €44.7 million and EBITDA of approximately €3.9 million.
The transaction is still subject to the usual closing conditions and the approval of the boards of solute. New Risk • Dec 16
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 7.1% 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: Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Market cap is less than US$100m (€46.1m market cap, or US$48.5m). Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: €0.008 (vs €0.013 loss in 3Q 2023) Third quarter 2024 results: EPS: €0.008 (up from €0.013 loss in 3Q 2023). Revenue: €5.23m (down 2.9% from 3Q 2023). Net income: €178.0k (up €441.0k from 3Q 2023). Profit margin: 3.4% (up from net loss in 3Q 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Oct 17
Consensus EPS estimates increase by 200%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €22.5m to €21.6m. EPS estimate rose from €0.01 to €0.03. Net income forecast to grow 518% next year vs 66% growth forecast for Media industry in Germany. Consensus price target of €2.90 unchanged from last update. Share price was steady at €1.78 over the past week. Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: €0.005 (vs €0.022 loss in 2Q 2023) Second quarter 2024 results: EPS: €0.005 (up from €0.022 loss in 2Q 2023). Revenue: €5.22m (down 3.3% from 2Q 2023). Net income: €113.0k (up €563.0k from 2Q 2023). Profit margin: 2.2% (up from net loss in 2Q 2023). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Media industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. New Risk • Jul 16
New major risk - Revenue and earnings growth Earnings have declined by 41% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Market cap is less than US$100m (€44.8m market cap, or US$48.8m). Reported Earnings • May 26
First quarter 2024 earnings released: €0.005 loss per share (vs €0.029 loss in 1Q 2023) First quarter 2024 results: €0.005 loss per share (improved from €0.029 loss in 1Q 2023). Revenue: €5.18m (up 1.5% from 1Q 2023). Net loss: €120.0k (loss narrowed 80% from 1Q 2023). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Media industry in Germany. 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. New Risk • Apr 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.4% 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: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Market cap is less than US$100m (€48.3m market cap, or US$51.4m). Reported Earnings • Apr 11
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: €0.046 loss per share (further deteriorated from €0.044 loss in FY 2022). Revenue: €21.7m (down 13% from FY 2022). Net loss: €944.0k (loss widened 5.7% from FY 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Media industry in Germany. 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. New Risk • Feb 09
New major risk - Revenue and earnings growth Earnings have declined by 26% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risk Earnings have declined by 26% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€45.8m market cap, or US$49.3m). Reported Earnings • Nov 19
Third quarter 2023 earnings released: €0.013 loss per share (vs €0.006 loss in 3Q 2022) Third quarter 2023 results: €0.013 loss per share (further deteriorated from €0.006 loss in 3Q 2022). Revenue: €5.38m (down 9.2% from 3Q 2022). Net loss: €263.0k (loss widened 119% from 3Q 2022). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Media industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Oct 24
Consensus EPS estimates fall by 50% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €24.2m to €22.5m. Losses expected to increase from €0.02 per share to €0.03. Media industry in Germany expected to see average net income growth of 12% next year. Consensus price target down from €3.50 to €3.00. Share price fell 11% to €1.99 over the past week. Reported Earnings • Aug 20
Second quarter 2023 earnings released: €0.022 loss per share (vs €0.036 loss in 2Q 2022) Second quarter 2023 results: €0.022 loss per share (improved from €0.036 loss in 2Q 2022). Revenue: €5.40m (down 8.2% from 2Q 2022). Net loss: €450.0k (loss narrowed 38% from 2Q 2022). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Media industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • May 28
First quarter 2023 earnings released: €0.029 loss per share (vs €0.036 loss in 1Q 2022) First quarter 2023 results: €0.029 loss per share (improved from €0.036 loss in 1Q 2022). Revenue: €5.10m (down 13% from 1Q 2022). Net loss: €584.0k (loss narrowed 21% from 1Q 2022). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Media industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Announcement • May 27
ad pepper media International N.V., Annual General Meeting, Jun 13, 2023 ad pepper media International N.V., Annual General Meeting, Jun 13, 2023. Announcement • May 25
ad pepper media International N.V. to Report Q1, 2023 Results on May 26, 2023 ad pepper media International N.V. announced that they will report Q1, 2023 results at 12:00 PM, Central European Standard Time on May 26, 2023 Price Target Changed • Apr 27
Price target decreased by 13% to €3.50 Down from €4.00, the current price target is provided by 1 analyst. New target price is 76% above last closing price of €1.99. Stock is down 45% over the past year. The company is forecast to post a net loss per share of €0.02 next year compared to a net loss per share of €0.044 last year. Reported Earnings • Apr 11
Full year 2022 earnings released: €0.044 loss per share (vs €0.083 profit in FY 2021) Full year 2022 results: €0.044 loss per share (down from €0.083 profit in FY 2021). Revenue: €24.9m (down 10.0% from FY 2021). Net loss: €893.0k (down 152% from profit in FY 2021). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Price Target Changed • Feb 08
Price target increased by 9.6% to €4.00 Up from €3.65, the current price target is provided by 1 analyst. New target price is 72% above last closing price of €2.32. Stock is down 55% over the past year. The company is forecast to post a net loss per share of €0.03 compared to earnings per share of €0.083 last year. Announcement • Feb 08
ad pepper media International N.V. to Report Fiscal Year 2022 Results on Apr 10, 2023 ad pepper media International N.V. announced that they will report fiscal year 2022 results on Apr 10, 2023 Reported Earnings • Nov 26
Third quarter 2022 earnings released: €0.01 loss per share (vs €0.027 profit in 3Q 2021) Third quarter 2022 results: €0.01 loss per share (down from €0.027 profit in 3Q 2021). Revenue: €5.93m (down 15% from 3Q 2021). Net loss: €120.0k (down 122% from profit in 3Q 2021). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Price Target Changed • Nov 16
Price target decreased to €3.65 Down from €4.05, the current price target is an average from 2 analysts. New target price is 80% above last closing price of €2.03. Stock is down 59% over the past year. The company is forecast to post a net loss per share of €0.04 compared to earnings per share of €0.083 last year. Price Target Changed • Oct 21
Price target decreased to €3.65 Down from €4.05, the current price target is an average from 2 analysts. New target price is 57% above last closing price of €2.33. Stock is down 60% over the past year. The company is forecast to post a net loss per share of €0.04 compared to earnings per share of €0.083 last year. Reported Earnings • Aug 27
Second quarter 2022 earnings released: €0.036 loss per share (vs €0.015 profit in 2Q 2021) Second quarter 2022 results: €0.036 loss per share (down from €0.015 profit in 2Q 2021). Revenue: €5.88m (down 9.7% from 2Q 2021). Net loss: €729.0k (down 339% from profit in 2Q 2021). Over the next year, revenue is forecast to stay flat compared to a 6.4% growth forecast for the Media industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 3% per year. Major Estimate Revision • Jul 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. Forecast profits in 2022 with EPS up from -€0.01 to €0 per share. Revenue forecast unchanged from last update at €24.7m. Media industry in Germany expected to see average net income decline 30% next year. Consensus price target down from €4.15 to €4.05. Share price was steady at €2.40 over the past week. Major Estimate Revision • Jul 02
Consensus EPS estimates fall by 63% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €28.8m to €26.6m. EPS estimate also fell from €0.08 per share to €0.03 per share. Net income forecast to grow 182% next year vs 3.8% decline forecast for Media industry in Germany. Consensus price target down from €6.30 to €5.50. Share price fell 4.4% to €2.63 over the past week. Announcement • Jul 01
ad pepper media International N.V. to Report Q2, 2022 Results on Aug 25, 2022 ad pepper media International N.V. announced that they will report Q2, 2022 results on Aug 25, 2022 Reported Earnings • May 27
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: €0.036 loss per share (down from €0.033 profit in 1Q 2021). Revenue: €5.87m (down 15% from 1Q 2021). Net loss: €742.0k (down 208% from profit in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 11%, compared to a 7.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • May 24
ad pepper media International N.V. to Report Q1, 2022 Results on May 25, 2022 ad pepper media International N.V. announced that they will report Q1, 2022 results on May 25, 2022 Major Estimate Revision • Apr 27
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €30.5m to €28.8m. EPS estimate also fell from €0.11 per share to €0.08 per share. Net income forecast to shrink 7.7% next year vs 6.0% decline forecast for Media industry in Germany. Consensus price target down from €6.85 to €6.30. Share price fell 7.3% to €3.58 over the past week. Reported Earnings • Mar 31
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: €0.083 (down from €0.17 in FY 2020). Revenue: €27.6m (up 7.9% from FY 2020). Net income: €1.73m (down 53% from FY 2020). Profit margin: 6.2% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 11%, compared to a 8.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €4.06, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 15x in the Media industry in Germany. Total returns to shareholders of 80% over the past three years. Major Estimate Revision • Jan 15
Consensus EPS estimates fall by 36% The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €28.4m to €27.4m. EPS estimate also fell from €0.11 per share to €0.07 per share. Net income forecast to grow 13% next year vs 4.0% growth forecast for Media industry in Germany. Consensus price target down from €8.10 to €7.20. Share price fell 13% to €5.12 over the past week. Price Target Changed • Jan 14
Price target decreased to €7.20 Down from €8.25, the current price target is an average from 2 analysts. New target price is 41% above last closing price of €5.12. Stock is down 4.3% over the past year. The company is forecast to post earnings per share of €0.11 for next year compared to €0.17 last year. Reported Earnings • Nov 19
Third quarter 2021 earnings released: EPS €0.027 (vs €0.043 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: €7.00m (up 17% from 3Q 2020). Net income: €556.0k (down 38% from 3Q 2020). Profit margin: 7.9% (down from 15% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2021 earnings released: EPS €0.015 (vs €0.057 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: €6.52m (up 6.5% from 2Q 2020). Net income: €305.0k (down 75% from 2Q 2020). Profit margin: 4.7% (down from 20% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 20
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from €28.6m to €29.0m. EPS estimate fell from €0.19 to €0.17 per share. Net income forecast to grow 3.2% next year vs 22% growth forecast for Media industry in Germany. Consensus price target of €8.25 unchanged from last update. Share price fell 4.1% to €5.66 over the past week. Reported Earnings • May 23
First quarter 2021 earnings released: EPS €0.033 (vs €0.031 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: €6.88m (up 18% from 1Q 2020). Net income: €686.0k (up 6.0% from 1Q 2020). Profit margin: 10.0% (down from 11% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 29
Full year 2020 earnings released: EPS €0.17 (vs €0.064 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €25.6m (up 18% from FY 2019). Net income: €3.66m (up 171% from FY 2019). Profit margin: 14% (up from 6.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 30
New 90-day high: €5.40 The company is up 29% from its price of €4.20 on 30 October 2020. The German market is up 20% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 37% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.64 per share. Is New 90 Day High Low • Jan 08
New 90-day high: €5.15 The company is up 43% from its price of €3.60 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.67 per share. Announcement • Dec 11
ad pepper media International N.V. to Report Fiscal Year 2020 Results on Mar 25, 2021 ad pepper media International N.V. announced that they will report fiscal year 2020 results on Mar 25, 2021 Is New 90 Day High Low • Dec 11
New 90-day high: €5.10 The company is up 46% from its price of €3.50 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.07 per share. Reported Earnings • Nov 19
Third quarter 2020 earnings released: EPS €0.043 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €6.01m (up 20% from 3Q 2019). Net income: €896.0k (up €912.0k from 3Q 2019). Profit margin: 15% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. 
