Board Change • May 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. 7 experienced directors. No highly experienced directors. Independent Director Pablo De Soto was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 28
izertis, S.A., Annual General Meeting, May 28, 2026 izertis, S.A., Annual General Meeting, May 28, 2026. Location: calle basauri 6, madrid., Spain New Risk • Apr 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Reported Earnings • Mar 27
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.14 (down from €0.15 in FY 2024). Revenue: €166.9m (up 24% from FY 2024). Net income: €3.87m (down 9.7% from FY 2024). Profit margin: 2.3% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 26%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Price Target Changed • Feb 01
Price target decreased by 10% to €12.10 Down from €13.50, the current price target is provided by 1 analyst. New target price is 25% above last closing price of €9.70. The company is forecast to post earnings per share of €0.33 for next year compared to €0.16 last year. New Risk • Feb 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Announcement • Jan 29
izertis, S.A. has completed a Follow-on Equity Offering in the amount of €51.300497 million. izertis, S.A. has completed a Follow-on Equity Offering in the amount of €51.300497 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,304,402
Price\Range: €9.2
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,271,739
Price\Range: €9.2
Transaction Features: Regulation S; Subsequent Direct Listing Price Target Changed • Sep 11
Price target increased by 17% to €13.50 Up from €11.50, the current price target is provided by 1 analyst. New target price is 38% above last closing price of €9.80. Stock is down 3.9% over the past year. The company is forecast to post earnings per share of €0.35 for next year compared to €0.16 last year. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €10.95, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the IT industry in Europe. Total returns to shareholders of 36% over the past three years. Announcement • May 27
izertis, S.A., Annual General Meeting, Jun 27, 2025 izertis, S.A., Annual General Meeting, Jun 27, 2025. Location: hotel abba playa gijon, paseo del doctor fleming 37,gijon, asturias, Spain New Risk • May 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Announcement • Mar 18
izertis, S.A. to Report Fiscal Year 2024 Results on Apr 08, 2025 izertis, S.A. announced that they will report fiscal year 2024 results at 10:30 AM, Central European Standard Time on Apr 08, 2025 New Risk • Oct 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risk Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Major Estimate Revision • Oct 15
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €157.2m to €148.2m. EPS estimate also fell from €0.279 per share to €0.208 per share. Net income forecast to grow 19% next year vs 25% growth forecast for IT industry in Spain. Consensus price target up from €11.50 to €12.15. Share price was steady at €9.90 over the past week. Announcement • Sep 05
izertis, S.A. (BME:IZER) acquired Digiswit. izertis, S.A. (BME:IZER) acquired Digiswit on September 4, 2024. For the period ending December 31, 2023, Digiswit reported total revenue of €2 million.
izertis, S.A. (BME:IZER) completed the acquisition of Digiswit on September 4, 2024. Buy Or Sell Opportunity • Jul 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to €10.25. The fair value is estimated to be €8.45, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 138% in the next 2 years. Announcement • May 14
izertis, S.A., Annual General Meeting, Jun 13, 2024 izertis, S.A., Annual General Meeting, Jun 13, 2024. Location: real club de regatas, avenida de la salle 2-4, gijon., asturias Spain Reported Earnings • Apr 10
Full year 2023 earnings released: EPS: €0.20 (vs €0.17 in FY 2022) Full year 2023 results: EPS: €0.20 (up from €0.17 in FY 2022). Revenue: €121.3m (up 35% from FY 2022). Net income: €5.04m (up 32% from FY 2022). Profit margin: 4.2% (in line with FY 2022). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Oct 26
izertis, S.A. (BME:IZER) acquired Keifi Soluciones Tecnologicas. izertis, S.A. (BME:IZER) acquired Keifi Soluciones Tecnologicas on October 25, 2023. Its integration brings together more than 110 employees.
izertis, S.A. (BME:IZER) completed the acquisition of Keifi Soluciones Tecnologicas on October 25, 2023. Major Estimate Revision • Oct 24
Consensus EPS estimates increase by 36% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.146 to €0.199. Revenue forecast unchanged at €125.3m. Net income forecast to grow 53% next year vs 18% growth forecast for IT industry in Spain. Consensus price target up from €10.90 to €11.30. Share price was steady at €8.40 over the past week. New Risk • Oct 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.6% Last year net profit margin: 5.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.6% net profit margin). Shareholders have been diluted in the past year (11% increase in shares outstanding). Major Estimate Revision • Sep 29
Consensus EPS estimates increase by 44% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.101 to €0.146. Revenue forecast unchanged at €125.3m. Net income forecast to grow 31% next year vs 19% growth forecast for IT industry in Spain. Consensus price target of €10.60 unchanged from last update. Share price was steady at €8.38 over the past week. Reported Earnings • Apr 20
Full year 2022 earnings released: EPS: €0.16 (vs €0.015 in FY 2021) Full year 2022 results: EPS: €0.16 (up from €0.015 in FY 2021). Revenue: €92.2m (up 39% from FY 2021). Net income: €3.83m (up €3.47m from FY 2021). Profit margin: 4.2% (up from 0.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Feb 11
izertis, S.A. acquired an unknown majority stake in TeamEQ. izertis, S.A. acquired an unknown majority stake in TeamEQ on February 9, 2023.izertis, S.A. completed the acquisition of an unknown majority stake in TeamEQ on February 9, 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Jaime Inocente Echegoyen Enriquez de la Orden was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 30
First half 2022 earnings released: EPS: €0 (vs €0.003 in 1H 2021) First half 2022 results: EPS: €0. Revenue: €40.4m (up 31% from 1H 2021). Net income: €460.0k (up €385.9k from 1H 2021). Profit margin: 1.1% (up from 0.2% in 1H 2021). Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 13% growth forecast for the IT industry in Spain. Announcement • Jul 20
izertis, S.A. (BME:IZER) acquired Wealize S.L. izertis, S.A. (BME:IZER) acquired Wealize S.L. on July 18, 2022.
izertis, S.A. (BME:IZER) completed the acquisition of Wealize S.L. on July 18, 2022. Announcement • Jun 15
izertis, S.A. (BME:IZER) acquired Open Kode S.L. izertis, S.A. (BME:IZER) acquired Open Kode S.L. on June 13, 2022. The price of the operation will be paid partly in cash and partly in IZERTIS shares. IZERTIS will issue a total of 227,267 shares which will be subject to a lock-up commitment for a period of 36 months from the delivery of the shares. In 2021, Okode has turnover of €1.5 million and EBITDA of €0.502 million
izertis, S.A. (BME:IZER) completed the acquisition of Open Kode S.L. on June 13, 2022. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Director of Administration & Finance and Director Lourdes Garcia is the most experienced director on the board, commencing their role in 2019. Independent Director Carlos Sartorius Witte was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 07
First half 2021 earnings released: EPS €0.003 (vs €0.006 in 1H 2020) The company reported a soft first half result with weaker earnings and profit margins, although revenues improved. First half 2021 results: Revenue: €30.9m (up 24% from 1H 2020). Net income: €74.1k (down 43% from 1H 2020). Profit margin: 0.2% (down from 0.5% in 1H 2020). Reported Earnings • Apr 18
Full year 2020 earnings released: EPS €0.058 (vs €0.011 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €51.9m (up 9.7% from FY 2019). Net income: €1.30m (up 445% from FY 2019). Profit margin: 2.5% (up from 0.5% in FY 2019). Is New 90 Day High Low • Feb 06
New 90-day high: €8.90 The company is up 45% from its price of €6.14 on 06 November 2020. The Spanish market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 18% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: €7.56 The company is up 27% from its price of €5.96 on 20 October 2020. The Spanish market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: €7.52 The company is up 11% from its price of €6.80 on 01 October 2020. The Spanish market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 28% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: €7.26 The company is up 30% from its price of €5.60 on 21 August 2020. The Spanish market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 31% over the same period. Is New 90 Day High Low • Oct 02
New 90-day high: €6.98 The company is up 26% from its price of €5.56 on 03 July 2020. The Spanish market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 2.0% over the same period. Announcement • Aug 06
izertis, S.A. (BME:IZER) acquired Solid GEAR Projects S.L. for €1.2 million. izertis, S.A. (BME:IZER) acquired Solid GEAR Projects S.L. for €1.2 million on August 3, 2020. The consideration consists of €1 million and a variable price with a maximum limit of €0.2 million, linked to the results achieved in the financial year 2020. In 2019, Solid GEAR Projects had revenues of €1 million and a gross operating profit (EBITDA) of €0.14 million. As a result of the acquisition, the Solid Gear team would be incorporated within Izertis.
izertis, S.A. (BME:IZER) completed the acquisition of Solid GEAR Projects S.L. on August 3, 2020.