Declared Dividend • May 06
Dividend increased to €0.083 Dividend of €0.083 is 196% higher than last year. Ex-date: 12th May 2026 Payment date: 14th May 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not covered by cash flows (370% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 45% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.9% EPS decline seen over the last 5 years. Announcement • May 05
Sonaecom, SGPS, S.A. announces Annual dividend, payable on May 14, 2026 Sonaecom, SGPS, S.A. announced Annual dividend of EUR 0.0830 per share payable on May 14, 2026, ex-date on May 12, 2026 and record date on May 13, 2026. New Risk • Apr 01
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 370% Dividend yield: 2.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (370% cash payout ratio). Large one-off items impacting financial results. Announcement • Mar 30
Sonaecom, SGPS, S.A., Annual General Meeting, Apr 30, 2026 Sonaecom, SGPS, S.A., Annual General Meeting, Apr 30, 2026. Location: lugar do espido via norte, maia Portugal Reported Earnings • Mar 29
Full year 2025 earnings released: EPS: €0.17 (vs €0.057 in FY 2024) Full year 2025 results: EPS: €0.17 (up from €0.057 in FY 2024). Revenue: €19.4m (up 2.7% from FY 2024). Net income: €51.6m (up 198% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Nov 30
Third quarter 2025 earnings released: EPS: €0.081 (vs €0.04 in 3Q 2024) Third quarter 2025 results: EPS: €0.081 (up from €0.04 in 3Q 2024). Revenue: €5.41m (up 28% from 3Q 2024). Net income: €24.1m (up 94% from 3Q 2024). 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. Buy Or Sell Opportunity • Nov 30
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €2.80. The fair value is estimated to be €3.52, 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. Earnings per share has declined by 66%. Board Change • Nov 17
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. No independent directors (5 non-independent directors). Executive Director Cristina Maria de Freitas Novais was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Apr 09
Sonaecom, SGPS, S.A., Annual General Meeting, May 08, 2025 Sonaecom, SGPS, S.A., Annual General Meeting, May 08, 2025. Location: lugar do espido via norte, maia Portugal Reported Earnings • May 14
First quarter 2023 earnings released: EPS: €0.017 (vs €0.07 in 1Q 2022) First quarter 2023 results: EPS: €0.017 (down from €0.07 in 1Q 2022). Revenue: €4.00m (down 78% from 1Q 2022). Net income: €5.20m (down 75% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 09
Full year 2022 earnings released: EPS: €0.26 (vs €0.39 in FY 2021) Full year 2022 results: EPS: €0.26 (down from €0.39 in FY 2021). Revenue: €19.2m (down 2.1% from FY 2021). Net income: €80.8m (down 32% from FY 2021). Over the last 3 years on average, earnings per share has increased by 42% 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 • Dec 22
Investor sentiment improved over the past week After last week's 22% share price gain to €2.38, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 13x in the Wireless Telecom industry in Europe. Total returns to shareholders of 46% over the past three years. Reported Earnings • Dec 02
Third quarter 2022 earnings released: EPS: €0.11 (vs €0.075 in 3Q 2021) Third quarter 2022 results: EPS: €0.11 (up from €0.075 in 3Q 2021). Revenue: €4.35m (up 5.2% from 3Q 2021). Net income: €36.2m (up 54% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Executive Director Cristina Maria de Freitas Novais was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €4.30m (down 78% from 3Q 2021). Net income: €36.5m (up 62% from 3Q 2021). Reported Earnings • Jul 28
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €5.00m (down 74% from 2Q 2021). Net income: €28.5m (down 3.7% from 2Q 2021). 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 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 17
Upcoming dividend of €0.19 per share Eligible shareholders must have bought the stock before 24 May 2022. Payment date: 26 May 2022. Payout ratio is a comfortable 47% but the company is not cash flow positive. Trailing yield: 9.2%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (6.7%). Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Executive Director Cristina Maria de Freitas Novais was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 09
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €78.9m (down 40% from FY 2020). Net income: €120.8m (up 101% from FY 2020). Revenue exceeded analyst estimates by 1.3%. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 28
Second quarter 2021 earnings released Second quarter 2021 results: Revenue: €19.5m (down 51% from 2Q 2020). Net income: €29.6m (up 215% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • May 13
Upcoming dividend of €0.097 per share Eligible shareholders must have bought the stock before 19 May 2021. Payment date: 21 May 2021. Trailing yield: 5.7%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (4.8%). Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improved over the past week After last week's 17% share price gain to €1.68, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 16x in the Wireless Telecom industry in Europe. Total loss to shareholders of 9.6% over the past three years. Reported Earnings • Mar 20
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €129.0m (down 3.3% from FY 2019). Net income: €60.1m (up 53% from FY 2019). Profit margin: 47% (up from 29% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 12
New 90-day high: €1.46 The company is up 5.0% from its price of €1.39 on 11 December 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Wireless Telecom industry, which is down 1.0% over the same period. Is New 90 Day High Low • Dec 18
New 90-day low: €1.36 The company is down 16% from its price of €1.61 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is up 9.0% over the same period. Reported Earnings • Dec 05
Third quarter 2020 earnings released: EPS €0.004 The company reported a soft third quarter result with weaker earnings and profit margins, although revenues were improved. Third quarter 2020 results: Revenue: €29.9m (up 6.5% from 3Q 2019). Net income: €1.84m (down 77% from 3Q 2019). Profit margin: 6.2% (down from 28% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 15% per year. Is New 90 Day High Low • Dec 02
New 90-day low: €1.39 The company is down 18% from its price of €1.68 on 03 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is up 9.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: €1.48 The company is down 4.0% from its price of €1.53 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is down 10.0% over the same period. Is New 90 Day High Low • Sep 29
New 90-day low: €1.48 The company is down 4.0% from its price of €1.55 on 30 June 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Wireless Telecom industry, which is down 12% over the same period.