Declared Dividend • Aug 05
First half dividend of UK£0.03 announced Shareholders will receive a dividend of UK£0.03. Ex-date: 22nd October 2026 Payment date: 13th November 2026 Dividend yield will be 6.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (308% earnings payout ratio). However, it is covered by cash flows (83% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 242% to bring the payout ratio under control. EPS is expected to grow by 229% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Aug 05
FDM Group (Holdings) plc Declares Interim Dividend, Payable on 13 November 2026 FDM Group (Holdings) plc announced that on 31 July 2026, the Board declared an interim dividend of 3.0 pence per ordinary share (2025: 6.0 pence), which will be payable on 13 November 2026 to shareholders on the register on 23 October 2026. Reported Earnings • Aug 04
First half 2026 earnings released: EPS: UK£0.028 (vs UK£0.057 in 1H 2025) First half 2026 results: EPS: UK£0.028 (down from UK£0.057 in 1H 2025). Revenue: UK£78.6m (down 19% from 1H 2025). Net income: UK£3.06m (down 51% from 1H 2025). Profit margin: 3.9% (down from 6.4% in 1H 2025). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 24 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.45, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the IT industry in Germany. Total loss to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.75 per share. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €1.14, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the IT industry in Germany. Total loss to shareholders of 81% over the past three years. Announcement • May 23
FDM Group (Holdings) plc Approves Final Ordinary Dividend for the Year Ended 31 December 2025 FDM Group (Holdings) plc at its Annual General Meeting held on 21 May 2026 approved a final ordinary dividend for the year ended 31 December 2025 of 4.0 pence per share for each ordinary share in the capital of the company. Declared Dividend • May 20
Final dividend of UK£0.04 announced Shareholders will receive a dividend of UK£0.04. Ex-date: 4th June 2026 Payment date: 26th June 2026 Dividend yield will be 9.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (193% earnings payout ratio). However, it is covered by cash flows (53% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 115% to bring the payout ratio under control. EPS is expected to grow by 105% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Mar 19
FDM Group (Holdings) plc, Annual General Meeting, May 21, 2026 FDM Group (Holdings) plc, Annual General Meeting, May 21, 2026. Announcement • Jun 25
FDM Group plc Announces Board and Committee Changes FDM Group plc announced the appointment of Alan Kinnear as Non-Executive Chair of the Board, effective July 30, 2025. Alan Kinnear will succeed David Lister, who will retire from the Board on the same date. David has served on the Board since March 2016, initially as a Non-Executive Director, and then as Non-Executive Chair from March 2019. Alan Kinnear joined the Board of FDM Group in January 2020 as an independent Non-Executive Director, becoming Chair of the Audit Committee in April 2020. With effect from July 30, 2025, Alan Kinnear will join and also chair the Nomination Committee. He will step down from the Audit Committee (of which he is currently Chair) and the Remuneration Committee. Alan spent 35 years at PwC, including 23 years as an audit partner working with listed, private equity-backed, and high-growth companies. He was a member of PwC's Southeast regional board and a national leader for audit services in the private equity sector. On July 30, 2025, Rowena Murray will replace Alan Kinnear as Chair of the Audit Committee. Rowena joined the Board as a Non-Executive Director in August 2023. She became Chair of the Remuneration Committee in May 2024 and will continue in that role. Rowena began her career in Sydney as a corporate lawyer. In 2004 she joined Investec Bank plc and moved to the UK, where she later became a director in Investec's Investment Banking division. For more than seven years, Rowena has been the appointed non-executive director (including serving on board committees) for various companies within the portfolio of Tenzing Private Equity, an investor in high-growth UK and European SMEs. Announcement • Apr 08
FDM Group (Holdings) plc to Report First Half, 2025 Results on Jul 30, 2025 FDM Group (Holdings) plc announced that they will report first half, 2025 results on Jul 30, 2025 Board Change • Dec 30
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Non-Executive Director Rowena Murray was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Nov 21
FDM Group (Holdings) plc Provides Financial Guidance for the Full Year 2024 The Board of FDM Group confirms that it anticipates that the Group's financial performance for the full year 2024 will be in line with its expectations. Upcoming Dividend • Oct 03
Upcoming dividend of UK£0.10 per share Eligible shareholders must have bought the stock before 10 October 2024. Payment date: 01 November 2024. The company is paying out more than 100% of its profits and is paying out 87% of its cash flow. Trailing yield: 7.5%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 04
First half 2024 earnings released: EPS: UK£0.10 (vs UK£0.20 in 1H 2023) First half 2024 results: EPS: UK£0.10 (down from UK£0.20 in 1H 2023). Revenue: UK£140.2m (down 22% from 1H 2023). Net income: UK£11.2m (down 48% from 1H 2023). Profit margin: 8.0% (down from 12% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the IT industry in Germany are expected to grow by 8.4%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to €4.80. The fair value is estimated to be €3.97, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 7.3% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. Buy Or Sell Opportunity • Jul 01
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to €4.72. The fair value is estimated to be €3.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 7.6% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. Buy Or Sell Opportunity • Jun 21
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to €4.58. The fair value is estimated to be €3.80, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 7.6% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. Buy Or Sell Opportunity • Jun 07
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 8.8% to €5.05. The fair value is estimated to be €4.07, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 7.6% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. Upcoming Dividend • May 30
Upcoming dividend of UK£0.19 per share Eligible shareholders must have bought the stock before 06 June 2024. Payment date: 28 June 2024. Payout ratio and cash payout ratio are on the higher end at 96% and 79% respectively. Trailing yield: 8.2%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €4.90, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the IT industry in Germany. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.04 per share. Announcement • May 16
FDM Group (Holdings) plc Announces Board Changes The Board of Directors of FDM Group (Holdings) Plc confirmed that, as announced in the Company's Annual Report for the year ended 31 December 2023, Peter Whiting (Senior Independent Director and Chair of the Remuneration Committee) retired from the Board at the end of the Company's Annual General Meeting held 14 May 2024, having served more than nine years since his appointment. Following Peter Whiting's retirement: Jacqueline de Rojas, Non-Executive Director on the Board, has been appointed as Senior Independent Director; and Rowena Murray, Non-Executive Director on the Board, as been appointed as Chair of the Remuneration Committee. Following the changes outlined above, the membership of the Board's committees is as follows: Audit Committee: Alan Kinnear (Chair of the Committee); Michelle Senecal de Fonseca; Rowena Murray. Remuneration Committee: Rowena Murray (Chair of the Committee); Michelle Senecal de Fonseca; Alan Kinnear. Nomination Committee: David Lister (Chair of the Committee); Michelle Senecal de Fonseca; Jacqueline de Rojas. Buy Or Sell Opportunity • May 15
Now 23% overvalued Over the last 90 days, the stock has fallen 5.8% to €4.52. The fair value is estimated to be €3.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 7.6% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. Reported Earnings • Apr 04
Full year 2023 earnings released Full year 2023 results: Revenue: UK£334.0m (up 1.2% from FY 2022). Net income: UK£40.8m (up 17% from FY 2022). Profit margin: 12% (up from 11% in FY 2022). Revenue is expected to decline by 7.1% p.a. on average during the next 3 years, while revenues in the IT industry in Germany are expected to grow by 9.0%. Declared Dividend • Mar 22
First half dividend of UK£0.19 announced Shareholders will receive a dividend of UK£0.19. Ex-date: 6th June 2024 Payment date: 28th June 2024 Dividend yield will be 10%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not adequately covered by earnings (100% earnings payout ratio). However, it is covered by cash flows (89.6% cash payout ratio). The dividend has increased by an average of 10% per year over the past 9 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11% to bring the payout ratio under control. However, EPS is expected to decline by 37% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €3.72, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the IT industry in Germany. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.65 per share. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.30, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the IT industry in Germany. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.63 per share. Buying Opportunity • Sep 19
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be €8.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 3.9%. Revenue is forecast to grow by 1.1% in 2 years. Earnings is forecast to decline by 2.9% in the next 2 years. Upcoming Dividend • Sep 14
Upcoming dividend of UK£0.17 per share at 6.6% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 13 October 2023. Payout ratio and cash payout ratio are on the higher end at 100% and 90% respectively. Trailing yield: 6.6%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (2.1%). New Risk • Aug 15
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 6.8% 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 Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Minor Risks Dividend is not well covered by earnings (100% payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Reported Earnings • Aug 02
First half 2023 earnings released: EPS: UK£0.20 (vs UK£0.16 in 1H 2022) First half 2023 results: EPS: UK£0.20 (up from UK£0.16 in 1H 2022). Revenue: UK£179.9m (up 18% from 1H 2022). Net income: UK£21.6m (up 27% from 1H 2022). Profit margin: 12% (in line with 1H 2022). Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Jul 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.8% 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. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Minor Risk Dividend is not well covered by earnings (113% payout ratio). Announcement • Jun 28
FDM Group (Holdings) plc Appoints Rowena Murray as A Non-Executive Director, Effective 1 August 2023 FDM Group (Holdings) plc announced the appointment of Rowena Murray as a non-executive director of the company with effect from 1 August 2023. On appointment, Rowena will become a member of the audit committee and the remuneration committee. Rowena has been the appointed non-executive director for various companies within the portfolio of Tenzing Private Equity (Tenzing). In this capacity, Rowena is currently a non-executive director of Altum Group and Eikon Group. Rowena began her career in Sydney as a corporate lawyer at a leading Australian law firm. She moved to the UK in 2004 and joined Investec Bank plc (Investec). As a director in Investec's Investment Banking division, Rowena provided strategic advice to public and private companies and led corporate transactions across a variety of sectors, including business services and technology, before moving to Tenzing in 2017. Upcoming Dividend • Jun 02
Upcoming dividend of UK£0.19 per share at 5.2% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 30 June 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.3%). Reported Earnings • Apr 06
Full year 2022 earnings released Full year 2022 results: Revenue: UK£330.0m (up 23% from FY 2021). Net income: UK£34.9m (up 9.7% from FY 2021). Profit margin: 11% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the IT industry in Germany. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Alan Kinnear was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Alan Kinnear was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €9.65, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 20x in the IT industry in Germany. Total returns to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.70 per share. Upcoming Dividend • Aug 18
Upcoming dividend of UK£0.17 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 30 September 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.5%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 03
First half 2022 earnings released: EPS: UK£0.16 (vs UK£0.14 in 1H 2021) First half 2022 results: EPS: UK£0.16 (up from UK£0.14 in 1H 2021). Revenue: UK£152.8m (up 16% from 1H 2021). Net income: UK£17.0m (up 8.8% from 1H 2021). Profit margin: 11% (in line with 1H 2021). Over the next year, revenue is forecast to grow 15%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 26
FDM Group (Holdings) plc Declares Final Ordinary Dividend for the Year Ended 31 December 2021 FDM Group (Holdings) plc Declared final ordinary dividend for the year ended 31 December 2021 of 18.0 pence for each ordinary share in the capital of the Company. Upcoming Dividend • May 12
Upcoming dividend of UK£0.18 per share Eligible shareholders must have bought the stock before 19 May 2022. Payment date: 10 June 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.2%). Higher than average of industry peers (1.5%). Announcement • May 03
FDM Group (Holdings) plc to Report First Half, 2022 Results on Jul 28, 2022 FDM Group (Holdings) plc announced that they will report first half, 2022 results on Jul 28, 2022 Announcement • Apr 02
FDM Group (Holdings) plc, Annual General Meeting, May 24, 2022 FDM Group (Holdings) plc, Annual General Meeting, May 24, 2022, at 13:00 Coordinated Universal Time. Location: 5 New Street Square London United Kingdom Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 15% share price gain to €12.10, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 29x in the IT industry in Germany. Total returns to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.77 per share. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: UK£0.29 (up from UK£0.28 in FY 2020). Revenue: UK£267.4m (flat on FY 2020). Net income: UK£31.8m (up 3.4% from FY 2020). Profit margin: 12% (in line with FY 2020). Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 8.1%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Jan 26
FDM Group (Holdings) plc Provides Revenue Guidance for the Year to 31 December 2021 FDM Group (Holdings) plc announced that the Group performed well in the second half of the year, with UK and APAC operations showing the highest growth in Mounties deployed, and the Board expects the Group's financial performance for the year to 31 December 2021 to be comfortably in line with its expectations. Revenue for the year to 31 December 2021 is expected to be flat in comparison to the prior year at £267.4 million (2020: £267.7 million), up 2% on a constant currency basis. Recent Insider Transactions • Oct 29
Founder recently sold €14m worth of stock On the 26th of October, Roderick Flavell sold around 983k shares on-market at roughly €14.06 per share. This was the largest sale by an insider in the last 3 months. Roderick has been a seller over the last 12 months, reducing personal holdings by €14m. Reported Earnings • Jul 30
First half 2021 earnings released: EPS UK£0.14 (vs UK£0.15 in 1H 2020) The company reported a poor first half result with weaker earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: UK£131.3m (down 6.6% from 1H 2020). Net income: UK£15.7m (down 3.2% from 1H 2020). Profit margin: 12% (in line with 1H 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jun 13
Founder recently bought €194k worth of stock On the 9th of June, Roderick Flavell bought around 17k shares on-market at roughly €11.37 per share. This was the largest purchase by an insider in the last 3 months. This was Roderick's only on-market trade for the last 12 months. Upcoming Dividend • May 06
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 13 May 2021. Payment date: 04 June 2021. Trailing yield: 4.6%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (1.2%). Reported Earnings • Mar 12
Full year 2020 earnings released: EPS UK£0.28 (vs UK£0.37 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: UK£267.7m (down 1.4% from FY 2019). Net income: UK£30.8m (down 24% from FY 2019). Profit margin: 12% (down from 15% in FY 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Analyst Estimate Surprise Post Earnings • Mar 12
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is expected to shrink by 1.1% compared to a 13% growth forecast for the IT industry in Germany. Is New 90 Day High Low • Dec 22
New 90-day low: €10.80 The company is down 4.0% from its price of €11.22 on 23 September 2020. The German market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.93 per share. 
