Reported Earnings • May 11
First quarter 2026 earnings released: EPS: €1.42 (vs €0.67 in 1Q 2025) First quarter 2026 results: EPS: €1.42 (up from €0.67 in 1Q 2025). Revenue: €81.0m (up 22% from 1Q 2025). Net income: €10.4m (up 112% from 1Q 2025). Profit margin: 13% (up from 7.4% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. Announcement • May 08
SNP Schneider-Neureither & Partner SE, Annual General Meeting, Jun 17, 2026 SNP Schneider-Neureither & Partner SE, Annual General Meeting, Jun 17, 2026, at 10:00 W. Europe Standard Time. Announcement • Feb 03
SNP SE Announces Executive Appointments SNP SE has appointed Kuldeep Solanki as Managing Director for Southeast Asia. In his role, he will be responsible for driving growth and market maturity across the region, with oversight of go-to-market strategy, sales execution, partner alliances, and marketing. He will also be accountable for customer and partner success, ensuring consistent delivery and long-term value creation. Kuldeep brings more than 23 years of international experience in enterprise software, cloud solutions, and partner ecosystems. Based in Singapore, he has a proven track record of building high-performance teams, scaling go-to-market operations, and developing strategic alliances across Southeast Asia. SNP SE has also appointed Harold Zhang as Managing Director for China, effective February 2, 2026. He assumes leadership of SNP's China business and will focus on accelerating growth and profitability while advancing SNP's strategic ambition to be the data management partner of choice for SAP-led transformation programs. He will work closely with regional leadership to align local execution with broader Asia-Pacific priorities. Based in Shanghai, Harold brings over two decades of leadership experience spanning digital management, cloud transformation, and enterprise sales across China's public and private sectors. Prior to joining SNP, he held senior leadership roles at Tencent, Kingdee, and SAP, where he drove large-scale business transformation, profitability, and customer success. Announcement • Jul 03
SNP Schneider-Neureither & Partner SE Announces Board Changes SNP Schneider-Neureither & Partner SE at its Annual General Meeting held on June 30, 2025 announced that Michael Wand, Head of Europe Private Equity at Carlyle, and Willi Westenberger, Managing Director at Carlyle, were newly elected to the Supervisory Board. The previous Chairman of the Supervisory Board, Karl Benedikt Biesinger, and the previous Deputy Chairman of the Supervisory Board, Thorsten Grenz, resigned their mandates at the end of the Annual General Meeting. The company also announced that Willi Westenberger was elected as Chairman of the Supervisory Board and Michael Wand as Deputy Chairman. Announcement • May 23
SNP Schneider-Neureither & Partner SE, Annual General Meeting, Jun 30, 2025 SNP Schneider-Neureither & Partner SE, Annual General Meeting, Jun 30, 2025, at 10:00 W. Europe Standard Time. Announcement • Apr 11
Carlyle Beratungs GmbH completed the acquisition of SNP Schneider-Neureither & Partner SE (XTRA:SHF) from Wolfgang Marguerre and others. Carlyle Beratungs GmbH entered into investment agreement to launch a voluntary public cash takeover offer to acquire SNP Schneider-Neureither & Partner SE (XTRA:SHF) from Wolfgang Marguerre and others for approximately €440 million on December 23, 2024. As part of investment agreement, Carlyle entered into share purchase agreement with Wolfgang Marguerre for acquisition of 65.19% stake in SNP Schneider. Carlyle also secures irrevocable undertakings from additional shareholders, representing in aggregate 11.06 % of the total share capital of SNP. A combined 76.25 % of the total share capital of SNP have been secured by Carlyle already. Completion of the Offer will be subject to customary antitrust and foreign investment control approvals. Following completion of the Offer, Carlyle intends to delist SNP Schneider-Neureither. The CEO of SNP, Jens Amail, and the Chairman of the Supervisory Board, Karl Benedikt Biesinger, welcome and strongly support the Offer. The Management Board of SNP intends, subject to review of the published offer document and its fiduciary duties, to support the Offer and believes that the transaction is in the best interest of the Company, its shareholders, employees, customers, partners and other stakeholders. As on January 31, 2025, The offer period for SNP shareholders begins today and ends on March 7, 2025. As February 10, 2025, SNP’s Executive Board and Supervisory Board consider the offer price of €61.00 per share to be fair and appropriate. This assessment is corroborated by the fairness opinion provided by the external financial adviser M.M.Warburg & CO.
Benjamin Leyendecker, Florian Sippel of Kirkland & Ellis, Germany acted as legal advisor for Carlyle Beratungs GmbH. Matthias Burckhardt, Jörgen Tielmann, Björn Simon, Helmut Janssen, Sven C. Stumm M.Jur of Luther Rechtsanwaltsgesellschaft mbH acted as legal advisor for SNP Schneider-Neureither & Partner SE. ParkView Partners GmbH acted as financial advisor to Wolfgang Marguerre.
Carlyle Beratungs GmbH completed the acquisition of SNP Schneider-Neureither & Partner SE (XTRA:SHF) from Wolfgang Marguerre and others on April 10, 2025. Carlyle will aim to support SNP’s continued growth journey together with management to drive further international expansion, optimize its product strategy, and explore inorganic growth opportunities. Equity for the investment was provided by Carlyle Europe Partners V (CEP V), a €6.4bn fund investing in European opportunities across a range of sectors and industries. Major Estimate Revision • Apr 03
Consensus EPS estimates increase by 50% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from €2.10 to €3.15. Revenue forecast steady at €279.9m. Net income forecast to grow 14% next year vs 26% growth forecast for IT industry in Germany. Consensus price target up from €62.00 to €66.50. Share price was steady at €67.60 over the past week. New Risk • Mar 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 28
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: €2.78 (up from €0.81 in FY 2023). Revenue: €266.9m (up 31% from FY 2023). Net income: €20.2m (up 245% from FY 2023). Profit margin: 7.6% (up from 2.9% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 24
Price target increased by 8.1% to €62.00 Up from €57.33, the current price target is an average from 2 analysts. New target price is 9.1% below last closing price of €68.20. The company is forecast to post earnings per share of €2.10 for next year compared to €0.81 last year. Announcement • Dec 25
Carlyle Beratungs GmbH entered into investment agreement to launch a voluntary public cash takeover offer to acquire SNP Schneider-Neureither & Partner SE (XTRA:SHF) from Wolfgang Marguerre and others for approximately €440 million. Carlyle Beratungs GmbH entered into investment agreement to launch a voluntary public cash takeover offer to acquire SNP Schneider-Neureither & Partner SE (XTRA:SHF) from Wolfgang Marguerre and others for approximately €440 million on December 23, 2024. As part of investment agreement, Carlyle entered into share purchase agreement with Wolfgang Marguerre for acquisition of 65.19% stake in SNP Schneider. Carlyle also secures irrevocable undertakings from additional shareholders, representing in aggregate 11.06 % of the total share capital of SNP. A combined 76.25 % of the total share capital of SNP have been secured by Carlyle already. Completion of the Offer will be subject to customary antitrust and foreign investment control approvals. Following completion of the Offer, Carlyle intends to delist SNP Schneider-Neureither. The CEO of SNP, Jens Amail, and the Chairman of the Supervisory Board, Karl Benedikt Biesinger, welcome and strongly support the Offer. The Management Board of SNP intends, subject to review of the published offer document and its fiduciary duties, to support the Offer and believes that the transaction is in the best interest of the Company, its shareholders, employees, customers, partners and other stakeholders.
Kirkland & Ellis, Germany acted as legal advisor for Carlyle Beratungs GmbH. Luther Rechtsanwaltsgesellschaft mbH acted as legal advisor for SNP Schneider-Neureither & Partner SE. ParkView Partners GmbH acted as financial advisor to Wolfgang Marguerre. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €61.00, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 14x in the IT industry in Germany. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €31.35 per share. Reported Earnings • Nov 11
Third quarter 2024 earnings released: EPS: €0.69 (vs €0.39 in 3Q 2023) Third quarter 2024 results: EPS: €0.69 (up from €0.39 in 3Q 2023). Revenue: €66.8m (up 24% from 3Q 2023). Net income: €5.04m (up 76% from 3Q 2023). Profit margin: 7.5% (up from 5.3% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Price Target Changed • Oct 30
Price target increased by 7.1% to €55.67 Up from €52.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €53.60. Stock is up 39% over the past year. The company is forecast to post earnings per share of €1.79 for next year compared to €0.81 last year. Major Estimate Revision • Oct 24
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from €232.5m to €240.2m. EPS estimate increased from €1.48 to €1.72 per share. Net income forecast to grow 7.1% next year vs 15% growth forecast for IT industry in Germany. Consensus price target up from €52.00 to €53.33. Share price was steady at €53.00 over the past week. Buy Or Sell Opportunity • Oct 21
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.7% to €53.60. The fair value is estimated to be €44.57, however this is not to be taken as a sell 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 82%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 23% in the next 2 years. New Risk • Aug 15
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: €0.76 (vs €0.048 in 2Q 2023) Second quarter 2024 results: EPS: €0.76 (up from €0.048 in 2Q 2023). Revenue: €66.7m (up 37% from 2Q 2023). Net income: €5.52m (up €5.18m from 2Q 2023). Profit margin: 8.3% (up from 0.7% in 2Q 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 8.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 19
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €1.13 to €1.26. Revenue forecast steady at €227.0m. Net income forecast to grow 43% next year vs 30% growth forecast for IT industry in Germany. Consensus price target up from €47.00 to €50.33. Share price rose 3.2% to €51.80 over the past week. Announcement • Jul 12
SNP Reportedly Weighs Sale Amid Takeover Interest SNP Schneider-Neureither & Partner SE (XTRA:SHF) and its controlling shareholder are exploring a potential sale after the German software provider received initial takeover interest, according to people familiar with the matter. The company and Wolfgang Marguerre, the billionaire who owns almost 64%, are working with boutique advisory firm Parkview Partners to gauge interest from potential buyers, according to the people. SNP could attract private equity firms such as Apax Partners and Bridgepoint Group Plc, as well as IT services firms like Accenture Plc and International Business Machines Corp., the people said. Announcement • Jun 13
Ltimindtree and SNP Launch Meld Collaborative Services Platform LTIMindtree announced in collaboration with SNP, has launched its latest platform `MELD' for accelerated and reliable realization of mergers, acquisitions and divestitures that accelerates data integrations and process harmonizations for customers. Enterprises embarking on these initiatives have a need for fast, lean, cost-effective solutions tailored to address landscape consolidations, business process integrations & technology requirements in carve out and merger scenarios that ensure seamless data management and zero business disruption. MELD addresses these accelerated cost-effective implementation, thus enabling enterprises to maximize business value with zero disruption for operations. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: €0.33 (vs €0.19 in 1Q 2023) First quarter 2024 results: EPS: €0.33 (up from €0.19 in 1Q 2023). Revenue: €57.3m (up 22% from 1Q 2023). Net income: €2.40m (up 77% from 1Q 2023). Profit margin: 4.2% (up from 2.9% in 1Q 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 03
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €0.97 to €1.08. Revenue forecast steady at €222.1m. Net income forecast to grow 36% next year vs 30% growth forecast for IT industry in Germany. Consensus price target up from €38.00 to €42.00. Share price was steady at €44.20 over the past week. Price Target Changed • Apr 02
Price target increased by 11% to €42.00 Up from €38.00, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of €44.00. The company is forecast to post earnings per share of €1.08 for next year compared to €0.81 last year. New Risk • Mar 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 28
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: €0.81 (up from €0.22 in FY 2022). Revenue: €211.9m (up 22% from FY 2022). Net income: €5.87m (up 263% from FY 2022). Profit margin: 2.8% (up from 0.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 28
Price target increased by 8.7% to €40.50 Up from €37.25, the current price target is an average from 2 analysts. New target price is 8.0% below last closing price of €44.00. The company is forecast to post earnings per share of €0.69 for next year compared to €0.22 last year. Announcement • Mar 19
SNP Schneider-Neureither & Partner SE to Report Q1, 2024 Results on Apr 25, 2024 SNP Schneider-Neureither & Partner SE announced that they will report Q1, 2024 results on Apr 25, 2024 Price Target Changed • Jan 23
Price target increased by 12% to €37.25 Up from €33.33, the current price target is an average from 2 analysts. New target price is 14% below last closing price of €43.30. The company is forecast to post earnings per share of €0.66 for next year compared to €0.22 last year. Announcement • Jan 17
SNP Schneider-Neureither & Partner SE, Annual General Meeting, Jun 27, 2024 SNP Schneider-Neureither & Partner SE, Annual General Meeting, Jun 27, 2024. Announcement • Dec 12
SNP Schneider-Neureither & Partner SE Raises Outlook Revenue for the Full Year 2023 SNP Schneider-Neureither & Partner SE raised outlook revenue for the full year 2023. For the period, the company revenue is expected to reach €200 million to €205 million (previous revenue forecast: around the upper end of the range between €190 million and €200 million). EBIT is still expected to reach the upper end of the range of €5 million to €10 million or even be slightly higher; this is due to significantly negative exchange rate effects in the quarter to date, with the corresponding negative impact on earnings. Major Estimate Revision • Nov 02
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.575 to €0.64. Revenue forecast steady at €197.2m. Net income forecast to grow 6.7% next year vs 33% growth forecast for IT industry in Germany. Consensus price target up from €31.00 to €33.33. Share price was steady at €38.20 over the past week. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: €0.39 (vs €0.027 loss in 3Q 2022) Third quarter 2023 results: EPS: €0.39 (up from €0.027 loss in 3Q 2022). Revenue: €58.0m (up 39% from 3Q 2022). Net income: €2.87m (up €3.07m from 3Q 2022). Profit margin: 4.9% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the IT 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 fallen by 6% per year, which means it is significantly lagging earnings. Major Estimate Revision • Oct 11
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €194.1m to €198.3m. EPS estimate increased from €0.51 to €0.575 per share. Net income forecast to grow 61% next year vs 56% growth forecast for IT industry in Germany. Consensus price target of €31.00 unchanged from last update. Share price rose 7.1% to €36.20 over the past week. Announcement • Oct 10
SNP Schneider-Neureither & Partner SE Raises Revenue Guidance for the Full Year of 2023 SNP Schneider-Neureither & Partner SE raised revenue Guidance for the Full Year of 2023. For the period, the company's revenue is expected to be around the upper end of the communicated range between €190 million and €200 million. Announcement • Sep 29
SNP Schneider-Neureither & Partner SE Announces Board Changes Extraordinary General Meeting of SNP Schneider-Neureither & Partner SE, approved by a large majority the introduction of the dualistic management system widely used in Germany. The controlling function will be assumed by the new three-member Supervisory Board, which consists of Dr. KarlBenedikt Biesinger, Prof. Dr. Thorsten Grenz and Peter Maier. At its constituent meeting, the Supervisory Board elected Dr. Biesinger as Chairman and Prof. Dr. Grenz as Deputy Chairman. At its first meeting, the Supervisory Board also established an Audit Committee. The members of the Audit Committee and the Supervisory Board are the same; the Audit Committee is chaired by Prof. Dr. Thorsten Grenz as an independentmember. Major Estimate Revision • Aug 11
Consensus EPS estimates fall by 38%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from €191.1m to €194.1m. EPS estimate fell from €0.82 to €0.51 per share. Net income forecast to grow 79% next year vs 30% growth forecast for IT industry in Germany. Consensus price target down from €32.17 to €30.67. Share price was steady at €33.60 over the past week. Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: €0.048 (vs €0.10 in 2Q 2022) Second quarter 2023 results: EPS: €0.048 (down from €0.10 in 2Q 2022). Revenue: €48.5m (up 15% from 2Q 2022). Net income: €346.0k (down 53% from 2Q 2022). Profit margin: 0.7% (down from 1.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Jun 21
SNP SE Announces Resignation of Richard Roy as A Member of the Board of Directors, Effective July 31, 2023 SNP Schneider-Neureither & Partner SE announced that the Chairman of the Board of Directors, Mr. Richard Roy, has informed the Company that he will resign as a member of the Board of Directors as of July 31, 2023. The Board of Directors of SNP Schneider-Neureither & Partner SE will promptly initiate the next steps to ensure a continued statutory composition of the Board of Directors. Major Estimate Revision • Jun 07
Consensus EPS estimates increase by 67%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €194.2m to €191.1m. EPS estimate rose from €0.49 to €0.82. Net income forecast to grow 90% next year vs 17% growth forecast for IT industry in Germany. Consensus price target up from €29.33 to €32.17. Share price was steady at €33.50 over the past week. Price Target Changed • Jun 06
Price target increased by 8.4% to €32.17 Up from €29.67, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €33.40. Stock is up 17% over the past year. The company is forecast to post earnings per share of €0.82 for next year compared to €0.22 last year. Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €35.50, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 19x in the IT industry in Germany. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.24 per share. Reported Earnings • Apr 02
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: €0.22 (up from €0.14 in FY 2021). Revenue: €187.5m (up 12% from FY 2021). Net income: €1.62m (up 64% from FY 2021). Profit margin: 0.9% (up from 0.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 54%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buying Opportunity • Jan 18
Now 22% undervalued Over the last 90 days, the stock is up 73%. The fair value is estimated to be €35.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 772% in the next 2 years. Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €179.3m to €173.7m. EPS estimate also fell from €0.84 per share to €0.67 per share. Net income forecast to grow 520% next year vs 28% growth forecast for IT industry in Germany. Consensus price target down from €38.67 to €27.33. Share price rose 24% to €18.50 over the past week. Major Estimate Revision • Nov 09
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €179.3m to €173.7m. EPS estimate also fell from €0.84 per share to €0.67 per share. Net income forecast to grow 594% next year vs 22% growth forecast for IT industry in Germany. Consensus price target down from €47.15 to €33.33. Share price fell 2.4% to €14.78 over the past week. Reported Earnings • Oct 28
Third quarter 2022 earnings released: €0.027 loss per share (vs €0.23 profit in 3Q 2021) Third quarter 2022 results: €0.027 loss per share (down from €0.23 profit in 3Q 2021). Revenue: €45.8m (flat on 3Q 2021). Net loss: €197.0k (down 112% from profit in 3Q 2021). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 27
Price target decreased to €38.67 Down from €44.57, the current price target is an average from 3 analysts. New target price is 159% above last closing price of €14.92. Stock is down 68% over the past year. The company is forecast to post earnings per share of €0.84 for next year compared to €0.14 last year. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 24% share price decline to €15.22, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the IT industry in Germany. Total loss to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €21.40, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the IT industry in Germany. Total loss to shareholders of 27% over the past three years. Price Target Changed • Aug 11
Price target decreased to €41.90 Down from €46.67, the current price target is an average from 3 analysts. New target price is 60% above last closing price of €26.20. Stock is down 51% over the past year. The company is forecast to post earnings per share of €0.91 for next year compared to €0.14 last year. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €23.95, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the IT industry in Germany. Total loss to shareholders of 21% over the past three years. Reported Earnings • May 04
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: €0.079 loss per share (up from €0.34 loss in 1Q 2021). Revenue: €42.9m (up 29% from 1Q 2021). Net loss: €571.0k (loss narrowed 77% from 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 7.6%, compared to a 19% 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 7% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 30
Price target decreased to €46.67 Down from €52.67, the current price target is an average from 3 analysts. New target price is 56% above last closing price of €29.85. Stock is down 51% over the past year. The company is forecast to post earnings per share of €0.88 for next year compared to €0.14 last year. Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Deputy Chairman of the Board of Directors Karl Biesinger is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 01
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €0.14 (up from €0.22 loss in FY 2020). Revenue: €173.6m (up 20% from FY 2020). Net income: €989.0k (up €2.51m from FY 2020). Profit margin: 0.6% (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) missed analyst estimates by 43%. Over the next year, revenue is forecast to grow 8.4%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jan 19
Price target decreased to €58.33 Down from €64.67, the current price target is an average from 3 analysts. New target price is 77% above last closing price of €33.00. Stock is down 42% over the past year. The company is forecast to post earnings per share of €0.76 next year compared to a net loss per share of €0.22 last year. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The 3 analysts covering SNP Schneider-Neureither & Partner previously expected the company to break even in 2021. New consensus forecast suggests the company will make a profit of €14.2m in 2022. Average annual earnings growth of 74% is required to achieve expected profit on schedule. Reported Earnings • Nov 01
Third quarter 2021 earnings released: EPS €0.23 (vs €0.57 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: €46.0m (up 22% from 3Q 2020). Net income: €1.60m (down 57% from 3Q 2020). Profit margin: 3.5% (down from 10.0% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Breakeven Date Change • Nov 01
Forecast to breakeven in 2021 The 3 analysts covering SNP Schneider-Neureither & Partner expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €5.63m in 2021. Earnings growth of 74% is required to achieve expected profit on schedule. Price Target Changed • Oct 30
Price target decreased to €64.67 Down from €70.33, the current price target is an average from 3 analysts. New target price is 45% above last closing price of €44.70. Stock is down 5.1% over the past year. The company is forecast to post earnings per share of €0.79 next year compared to a net loss per share of €0.22 last year. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS €0.075 (vs €0.13 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €42.9m (up 25% from 2Q 2020). Net income: €532.0k (up €1.40m from 2Q 2020). Profit margin: 1.2% (up from net loss in 2Q 2020). 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 39% per year, which means it is significantly lagging earnings growth. Executive Departure • Jun 24
Independent Director Rainer Zinow has left the company On the 17th of June, Rainer Zinow's tenure as Independent Director ended after 3.5 years in the role. We don't have any record of a personal shareholding under Rainer's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Jun 23
Independent Director Rainer Zinow has left the company On the 17th of June, Rainer Zinow's tenure as Independent Director ended after 3.5 years in the role. We don't have any record of a personal shareholding under Rainer's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is less than a year, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Apr 25
Full year 2020 earnings released: €0.22 loss per share (vs €0.21 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: €144.3m (down 1.5% from FY 2019). Net loss: €1.52m (loss widened 12% from FY 2019). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Executive Departure • Apr 17
Vice Chairman of the Board Gerhard Burkhardt has left the company On the 16th of April, Gerhard Burkhardt's tenure in the role of Vice Chairman of the Board ended. We don't have any record of a personal shareholding under Gerhard's name. A total of 3 executives have left over the last 12 months. Is New 90 Day High Low • Mar 05
New 90-day low: €49.85 The company is down 7.0% from its price of €53.80 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €114 per share. 