New Risk • May 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 42% 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. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 10% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (178% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Market cap is less than US$100m (kr.167.2m market cap, or US$26.4m). Announcement • Mar 11
Rias A/S Announces Resignation of Michael Meyer from the Board of Directors RIAS A/S announced that Michael Meyer has resigned from the Board of Directors. Buy Or Sell Opportunity • Feb 05
Now 25% overvalued The stock has been flat over the last 90 days, currently trading at kr.660. The fair value is estimated to be kr.528, 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. Earnings per share has declined by 11%. Announcement • Jan 23
RIAS A/S Maintains Earnings Guidance for the Fiscal Year 2025/26 RIAS A/S maintained earnings guidance for the fiscal year 2025/26. The Board maintains its previously announced guidance for the 2025/26 financial year, expecting EBIT to be in the range of DKK 12 million - DKK 15 million. Upcoming Dividend • Jan 16
Upcoming dividend of kr.26.00 per share Eligible shareholders must have bought the stock before 22 January 2026. Payment date: 26 January 2026. Payout ratio is a comfortable 63% and the cash payout ratio is 82%. Trailing yield: 3.7%. Lower than top quartile of Danish dividend payers (4.7%). Higher than average of industry peers (2.4%). Announcement • Jan 02
Rias Announces Resignation of Martin Koelink as Board Member Effectively as of December 31, 2025 RIAS announced that Martin Koelink has resigned from the Board of Directors, effectively as of December 31, 2025. Declared Dividend • Dec 14
Dividend reduced to kr.26.00 Dividend of kr.26.00 is 30% lower than last year. Ex-date: 22nd January 2026 Payment date: 26th January 2026 Dividend yield will be 3.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (82% cash payout ratio). The dividend has increased by an average of 2.7% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 2.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 12
RIAS A/S announces Annual dividend, payable on January 26, 2026 RIAS A/S announced Annual dividend of DKK 26.0000 per share payable on January 26, 2026, ex-date on January 22, 2026 and record date on January 23, 2026. Reported Earnings • Dec 11
Full year 2025 earnings released: EPS: kr.41.57 (vs kr.58.77 in FY 2024) Full year 2025 results: EPS: kr.41.57 (down from kr.58.77 in FY 2024). Revenue: kr.303.1m (down 5.0% from FY 2024). Net income: kr.9.59m (down 29% from FY 2024). Profit margin: 3.2% (down from 4.2% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Dec 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Dividend is not well covered by cash flows (110% cash payout ratio). Market cap is less than US$100m (kr.154.5m market cap, or US$24.0m). Announcement • Sep 17
RIAS A/S, Annual General Meeting, Jan 21, 2026 RIAS A/S, Annual General Meeting, Jan 21, 2026. Announcement • Jan 23
RIAS A/S Provides Earnings Guidance for the Fiscal Year 2024/25 RIAS A/S provided earnings guidance for the fiscal year 2024/25. For the year, the company expects EBIT level for the financial year 2024/25 to remain within the range of DKK 16 million - DKK 18 million. Upcoming Dividend • Jan 16
Upcoming dividend of kr.37.00 per share Eligible shareholders must have bought the stock before 23 January 2025. Payment date: 27 January 2025. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of Danish dividend payers (5.1%). Higher than average of industry peers (2.3%). Declared Dividend • Dec 16
Dividend of kr.37.00 announced Shareholders will receive a dividend of kr.37.00. Ex-date: 23rd January 2025 Payment date: 27th January 2025 Dividend yield will be 5.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 6.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Dec 12
Full year 2024 earnings released: EPS: kr.58.77 (vs kr.54.23 in FY 2023) Full year 2024 results: EPS: kr.58.77 (up from kr.54.23 in FY 2023). Revenue: kr.319.1m (up 1.9% from FY 2023). Net income: kr.13.6m (up 8.4% from FY 2023). Profit margin: 4.2% (up from 4.0% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Nov 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Dividend is not well covered by cash flows (109% cash payout ratio). Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (kr.144.1m market cap, or US$20.5m). Announcement • Oct 31
RIAS A/S Announces Resignation of Dieter Wetzel from the Board of Directors RIAS A/S announced resignation of Dieter Wetzel from the board of directors. New Risk • Oct 02
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 Danish stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (109% cash payout ratio). Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (kr.154.5m market cap, or US$22.9m). Announcement • Aug 22
RIAS A/S, Annual General Meeting, Jan 22, 2025 RIAS A/S, Annual General Meeting, Jan 22, 2025. Announcement • Jan 24
RIAS A/S Provides Earnings Guidance for the Fiscal Year 2023/24 RIAS A/S provided earnings guidance for the fiscal year 2023/24. for the year, the company expects EBIT level for the financial year 2023/24 to remain within the range of DKK 16 million - DKK 18 million. Announcement • Dec 13
Rias A/S Proposes Dividend for the Financial Year 2022/23 The Board of Directors of RIAS A/S proposed that for the financial year 2022/23 dividend be distributed to the shareholders in the amount of DKK 37 per DKK 100 share of the share capital at 30 September 2023 of DKK 23,063,000, corresponding to a total proposed dividend of DKK 8,533,310. Reported Earnings • Dec 13
Full year 2023 earnings released Full year 2023 results: Revenue: kr.313.1m (down 7.6% from FY 2022). Net income: kr.12.5m (down 26% from FY 2022). Profit margin: 4.0% (down from 5.0% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 14% per year. New Risk • Dec 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Market cap is less than US$100m (kr.154.5m market cap, or US$22.5m). Announcement • Nov 29
Rias A/S Announces Changes to the Employee's Representatives for the Board, Effective December 12, 2023 RIAS A/S at the ordinary election on November 27, 2023 the following were elected as employee's representatives for the Board of the company. Purchaser June Svendsen, Poppelvej 45, Vemmedrup, 4632 Bjæverskov as representative of the Board of Directors. Sales Manager, Jakob Fiil Hjulmand, Parkvej 25, 8920 Randers NV was elected substitute for June Svendsen. Sales Manager Jette Duus, Plejeruphuse 4, 4571 Grevinge as representative of the Board of Directors. Project Coordinator /Technical Support Morten Fogh, Bifaldet 11, 2.tv., 4000 Roskilde was elected substitute for Jette Duus. Purchaser Søren Koustrup, Fåborgvej 20, 8900 Randers leaves as the employee's representative. The elected employee's representatives and their substitutes will enter their position at the next board meeting on 12 December 2023. New Risk • Jul 09
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 Danish stocks, typically moving 6.3% 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: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (kr.133.8m market cap, or US$19.7m). Announcement • Jan 25
RIAS A/S Provides Earnings Guidance for the Financial Year 2022/23 RIAS A/S provided earnings guidance for the financial year 2022/23. Taking into account the mentioned uncertainty and with a positive first quarter as basis, the Board of RIAS A/S still expects an EBIT level for the financial year 2022/23 in the range of DKK 14.5-16.5 million. Upcoming Dividend • Jan 18
Upcoming dividend of kr.50.00 per share Eligible shareholders must have bought the stock before 25 January 2023. Payment date: 27 January 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 6.8%. Within top quartile of Danish dividend payers (6.3%). Higher than average of industry peers (2.0%). Reported Earnings • Dec 08
Full year 2022 earnings released Full year 2022 results: Revenue: kr.338.7m (up 9.8% from FY 2021). Net income: kr.17.0m (up 35% from FY 2021). Profit margin: 5.0% (up from 4.1% in FY 2021). The increase in margin was driven by higher revenue. Board Change • Nov 17
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. 6 non-independent directors. Director Nicolas Neuwirth was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 02
RIAS A/S Announces the Resignation of Henning Hess as Chief Executive Officer, Effective January 31, 2023 RIAS A/S announced that Henning Hess has chosen to resign his position as Chief Executive Officer as of January 31, 2023. Henning Hess has held the position as CEO of RIAS A/S since April 1, 2004. A search process has been initiated for the appointment of a new CEO. Reported Earnings • May 20
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down kr.4.29m from profit in 1H 2021). Profit margin: (down from 3.0% in 1H 2021). The decrease in margin was driven by lower expenses. 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. 6 non-independent directors. Director Nicolas Neuwirth was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to kr.580, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 12x in the Trade Distributors industry in Denmark. Total returns to shareholders of 51% over the past three years. Announcement • Jan 19
RIAS A/S Provides Earnings Guidance for the Financial Year 2021/22 RIAS A/S provided earnings guidance for the financial year 2021/22. for the year, the company expects EBIT level in the range of DKK 13.0 million to DKK 15.0 million. Upcoming Dividend • Jan 12
Upcoming dividend of kr.35.00 per share Eligible shareholders must have bought the stock before 19 January 2022. Payment date: 21 January 2022. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Within top quartile of Danish dividend payers (3.4%). Higher than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 15% share price gain to kr.765, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 16x in the Trade Distributors industry in Denmark. Total returns to shareholders of 96% over the past three years. Reported Earnings • Dec 11
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: kr.308.5m (up 4.8% from FY 2020). Net income: kr.12.6m (up 48% from FY 2020). Profit margin: 4.1% (up from 2.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 15% share price gain to kr.550, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 23x in the Trade Distributors industry in Europe. Total returns to shareholders of 54% over the past three years. Announcement • Mar 17
An unknown buyer acquired a 14.9% stake in RIAS A/S (CPSE:RIAS B) from Small Cap Danmark A/S (CPSE:SCD). An unknown buyer acquired a 14.9% stake in RIAS A/S (CPSE:RIAS B) from Small Cap Danmark A/S (CPSE:SCD) on March 16, 2021. Post transaction, Small Cap Danmark A/S will not have any stake in RIAS A/S.
An unknown buyer completed the acquisition of a 14.9% stake in RIAS A/S (CPSE:RIAS B) from Small Cap Danmark A/S (CPSE:SCD) on March 16, 2021. Is New 90 Day High Low • Jan 27
New 90-day high: kr.486 The company is up 9.0% from its price of kr.444 on 29 October 2020. The Danish market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: kr.472 The company is up 3.0% from its price of kr.460 on 06 October 2020. The Danish market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 07
New 90-day high: kr.470 The company is up 8.0% from its price of kr.434 on 04 August 2020. The Danish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 11% over the same period. Is New 90 Day High Low • Oct 12
New 90-day high: kr.462 The company is up 11% from its price of kr.418 on 14 July 2020. The Danish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Trade Distributors industry, which is up 17% over the same period.