Buy Or Sell Opportunity • Aug 11
Now 20% undervalued Over the last 90 days, the stock has risen 31% to €23.00. The fair value is estimated to be €28.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Jul 28
Second quarter 2026 earnings released: €0.11 loss per share (vs €0.19 loss in 2Q 2025) Second quarter 2026 results: €0.11 loss per share (improved from €0.19 loss in 2Q 2025). Revenue: €16.2m (down 1.2% from 2Q 2025). Net loss: €400.0k (loss narrowed 43% from 2Q 2025). 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. Announcement • Jun 16
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG Announces Resignation of Dr. Bruno Sälzer from Chairman and Member of the Supervisory Board Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG announced that the long-standing Chairman of the Supervisory Board, Dr. Bruno Sälzer, informed the company’s Executive Board on June 15, 2026 that he has resigned from his position as Chairman of the Supervisory Board effective immediately, and from his position as a member of the Supervisory Board effective September 30, 2026. The Supervisory Board will address the succession for Dr. Sälzer in a timely manner. New Risk • Jun 01
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 9.5% 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 Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 43% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$100m (€84.2m market cap, or US$97.9m). Reported Earnings • Apr 24
First quarter 2026 earnings released: €0.57 loss per share (vs €0.52 loss in 1Q 2025) First quarter 2026 results: €0.57 loss per share (further deteriorated from €0.52 loss in 1Q 2025). Revenue: €15.0m (down 2.6% from 1Q 2025). Net loss: €2.10m (loss widened 11% from 1Q 2025). 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. Announcement • Apr 16
LUDWIG BECK am Rathauseck - Textilhaus Feldmeier AG, Annual General Meeting, May 28, 2026 LUDWIG BECK am Rathauseck - Textilhaus Feldmeier AG, Annual General Meeting, May 28, 2026, at 10:00 W. Europe Standard Time. Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: €0.032 (vs €0.78 loss in FY 2024) Full year 2025 results: EPS: €0.032 (up from €0.78 loss in FY 2024). Revenue: €78.6m (up 5.1% from FY 2024). Net income: €119.0k (up €2.99m from FY 2024). Profit margin: 0.2% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. New Risk • Jan 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 2.3% 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 Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings have declined by 31% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (2.3% average weekly change). Market cap is less than US$100m (€51.0m market cap, or US$59.7m). Buy Or Sell Opportunity • Jan 22
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 60% to €19.40. The fair value is estimated to be €15.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Oct 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.2% to €12.10. The fair value is estimated to be €15.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jul 25
Second quarter 2025 earnings released: €0.19 loss per share (vs €0.11 loss in 2Q 2024) Second quarter 2025 results: €0.19 loss per share (further deteriorated from €0.11 loss in 2Q 2024). Revenue: €17.4m (up 12% from 2Q 2024). Net loss: €700.0k (loss widened 75% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 10
Price target decreased by 41% to €20.00 Down from €34.07, the current price target is provided by 1 analyst. New target price is 43% above last closing price of €14.00. Stock is down 35% over the past year. The company posted a net loss per share of €0.78 last year. New Risk • Apr 23
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (€54.3m market cap, or US$61.5m). Announcement • Apr 14
LUDWIG BECK am Rathauseck - Textilhaus Feldmeier AG, Annual General Meeting, May 22, 2025 LUDWIG BECK am Rathauseck - Textilhaus Feldmeier AG, Annual General Meeting, May 22, 2025, at 10:00 W. Europe Standard Time. Buy Or Sell Opportunity • Apr 07
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to €18.60. The fair value is estimated to be €14.30, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Meanwhile, the company became loss making. New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 8.2% 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 Risks Interest payments are not well covered by earnings (1.2x net interest cover). Earnings have declined by 8.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (€59.1m market cap, or US$64.1m). Reported Earnings • Apr 02
Full year 2024 earnings released: €0.78 loss per share (vs €0.12 profit in FY 2023) Full year 2024 results: €0.78 loss per share (down from €0.12 profit in FY 2023). Revenue: €78.3m (up 6.2% from FY 2023). Net loss: €2.87m (down €3.30m from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. New Risk • Oct 18
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risk Market cap is less than US$100m (€69.5m market cap, or US$75.4m). Reported Earnings • Oct 17
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €19.4m (up 3.7% from 3Q 2023). Net income: €500.0k (up €800.0k from 3Q 2023). Profit margin: 2.6% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 19
Second quarter 2024 earnings released: €0.11 loss per share (vs €0.081 profit in 2Q 2023) Second quarter 2024 results: €0.11 loss per share (down from €0.081 profit in 2Q 2023). Revenue: €16.5m (flat on 2Q 2023). Net loss: €400.0k (down 233% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 09
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 16 May 2024. Payment date: 21 May 2024. Trailing yield: 0.7%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.1%). Reported Earnings • Apr 21
First quarter 2024 earnings released: €0.30 loss per share (vs €0.29 loss in 1Q 2023) First quarter 2024 results: €0.30 loss per share (further deteriorated from €0.29 loss in 1Q 2023). Revenue: €15.7m (up 5.4% from 1Q 2023). Net loss: €1.10m (flat on 1Q 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Apr 10
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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (€87.2m market cap, or US$93.7m). Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: €0.12 (vs €0.60 in FY 2022) Full year 2023 results: EPS: €0.12 (down from €0.60 in FY 2022). Revenue: €77.5m (up 8.9% from FY 2022). Net income: €431.0k (down 81% from FY 2022). Profit margin: 0.6% (down from 3.1% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €24.80, the stock trades at a trailing P/E ratio of 74.2x. Average trailing P/E is 19x in the Multiline Retail industry in Europe. Total loss to shareholders of 2.4% over the past three years. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €19.60, the stock trades at a trailing P/E ratio of 58.6x. Average trailing P/E is 19x in the Multiline Retail industry in Europe. Total loss to shareholders of 16% over the past three years. Reported Earnings • Oct 24
Third quarter 2023 earnings released: €0.081 loss per share (vs €0.19 profit in 3Q 2022) Third quarter 2023 results: €0.081 loss per share (down from €0.19 profit in 3Q 2022). Revenue: €18.7m (flat on 3Q 2022). Net loss: €300.0k (down 143% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • Aug 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €90.9m (US$98.8m) This is considered a minor 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 Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (€90.9m market cap, or US$98.8m). Reported Earnings • Jul 20
Second quarter 2023 earnings released: EPS: €0.081 (vs €0.081 in 2Q 2022) Second quarter 2023 results: EPS: €0.081 (in line with 2Q 2022). Revenue: €17.4m (up 7.4% from 2Q 2022). Net income: €300.0k (flat on 2Q 2022). Profit margin: 1.7% (down from 1.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Apr 20
First quarter 2023 earnings released: €0.30 loss per share (vs €0.30 loss in 1Q 2022) First quarter 2023 results: €0.30 loss per share (further deteriorated from €0.30 loss in 1Q 2022). Revenue: €14.9m (up 20% from 1Q 2022). Net loss: €1.10m (flat on 1Q 2022). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 22
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €18.8m (up 13% from 3Q 2021). Net income: €700.0k (up €700.0k from 3Q 2021). Profit margin: 3.7% (up from 0% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: €0.081 (vs €0.35 in 2Q 2021) Second quarter 2022 results: EPS: €0.081 (down from €0.35 in 2Q 2021). Revenue: €17.1m (up 51% from 2Q 2021). Net income: €300.0k (down 77% from 2Q 2021). Profit margin: 1.8% (down from 12% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to €27.50 Down from €34.07, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €26.40. Stock is down 7.0% over the past year. The company posted earnings per share of €0.98 last year. Reported Earnings • Apr 27
First quarter 2022 earnings released: €0.30 loss per share (vs €0.76 loss in 1Q 2021) First quarter 2022 results: €0.30 loss per share (up from €0.76 loss in 1Q 2021). Revenue: €12.4m (up 118% from 1Q 2021). Net loss: €1.10m (loss narrowed 61% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Apr 22
LUDWIG BECK am Rathauseck - Textilhaus Feldmeier AG Provides Earning Guidance for the Fiscal Year 2022 LUDWIG BECK am Rathauseck - Textilhaus Feldmeier AG provided earning guidance for the fiscal year 2022. For the year, the company expected gross sales of between €85 million and €88 million and slightly positive earnings before taxes (EBT) in the fiscal year 2022, as already presented in the forecast report of the consolidated financial statements of December 31, 2021. Reported Earnings • Apr 02
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €0.98 (up from €0.47 loss in FY 2020). Revenue: €66.8m (up 28% from FY 2020). Net income: €3.63m (up €5.37m from FY 2020). Profit margin: 5.4% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Jul 23
Second quarter 2021 earnings released: EPS €0.35 (vs €0.54 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €16.1m (up 104% from 2Q 2020). Net income: €1.30m (up €3.30m from 2Q 2020). Profit margin: 8.1% (up from net loss in 2Q 2020). 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 • Apr 24
First quarter 2021 earnings released: €0.73 loss per share (vs €0.37 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: €5.60m (down 57% from 1Q 2020). Net loss: €2.70m (loss widened 93% from 1Q 2020). 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. Reported Earnings • Mar 25
Full year 2020 earnings released: €0.47 loss per share (vs €0.93 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €58.4m (down 28% from FY 2019). Net loss: €1.74m (down 151% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 04
Price target lowered to €25.00 Down from €34.07, the current price target is provided by 1 analyst. The new target price is close to the current share price of €25.60. As of last close, the stock is down 6.6% over the past year. Announcement • Nov 06
Ludwig Beck Am Rathauseck - Textilhaus Feldmeier AG Withdraws Sales and Earnings Forecast for the Financial Year 2020 LUDWIG BECK am Rathauseck - Textilhaus Feldmeier AG announced that against the background of the effects of the COVID 19 pandemic, the Executive Board decided to withdraw its sales and earnings forecast for the current financial year 2020. The most recent forecast was published as a Ad-hoc release on June 15, 2020 and was based on the assumption that there will be no renewed tightening of the official orders in connection with the "coronavirus". Due to the strong increase in the dynamics of the COVID 19 pandemic in recent weeks, the additional measures recently adopted by the federal and state governments and the resulting considerable economic restrictions and uncertainty, it is no longer possible to maintain the forecast for the financial year 2020. The cancellation of this year's Christmas markets will have a particularly negative impact on the downtown area and retail trade. Due to the uncertainty of the further development, it is also impossible to predict at the moment when a new forecast for the current financial year 2020 will be possible. Is New 90 Day High Low • Oct 27
New 90-day low: €24.00 The company is down 6.0% from its price of €25.40 on 29 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Multiline Retail industry, which is up 10.0% over the same period. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total losses of €772.0k, with losses narrowing by 67% from the prior year. Total revenue was €62.2m over the last 12 months, down 56% from the prior year.