Announcement • May 08
Audax Renovables, S.A., Annual General Meeting, Jun 11, 2026 Audax Renovables, S.A., Annual General Meeting, Jun 11, 2026. Location: hotel marina badalona, avinguda d`eduard maristany 227, badalona, barcelona., Spain Reported Earnings • Apr 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: €0.044 (down from €0.13 in FY 2024). Revenue: €1.88b (down 5.4% from FY 2024). Net income: €19.6m (down 68% from FY 2024). Profit margin: 1.0% (down from 3.1% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 51%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 03
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €2.19b to €1.89b. EPS estimate fell from €0.108 to €0.105 per share. Net income forecast to grow 26% next year vs 0.9% decline forecast for Renewable Energy industry in Spain. Consensus price target of €2.35 unchanged from last update. Share price fell 5.9% to €1.22 over the past week. Announcement • Feb 19
Audax Renovables, S.A. to Report Fiscal Year 2025 Results on Feb 26, 2026 Audax Renovables, S.A. announced that they will report fiscal year 2025 results Pre-Market on Feb 26, 2026 Major Estimate Revision • Dec 11
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €2.38b to €2.18b. EPS estimate also fell from €0.106 per share to €0.089 per share. Net income forecast to grow 28% next year vs 10% decline forecast for Renewable Energy industry in Spain. Consensus price target of €2.35 unchanged from last update. Share price fell 2.5% to €1.30 over the past week. Reported Earnings • Nov 17
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: €433.5m (down 14% from 3Q 2024). Net income: €2.63m (down 78% from 3Q 2024). Profit margin: 0.6% (down from 2.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Spain are expected to remain flat. 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 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 02
Second quarter 2025 earnings released: EPS: €0.015 (vs €0.039 in 2Q 2024) Second quarter 2025 results: EPS: €0.015 (down from €0.039 in 2Q 2024). Revenue: €377.5m (down 6.1% from 2Q 2024). Net income: €6.84m (down 62% from 2Q 2024). Profit margin: 1.8% (down from 4.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Jul 16
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.2% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. 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 Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 17
First quarter 2025 earnings released: EPS: €0.026 (vs €0.035 in 1Q 2024) First quarter 2025 results: EPS: €0.026 (down from €0.035 in 1Q 2024). Revenue: €571.2m (up 19% from 1Q 2024). Net income: €11.9m (down 25% from 1Q 2024). Profit margin: 2.1% (down from 3.3% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • May 15
Audax Renovables, S.A., Annual General Meeting, Jun 19, 2025 Audax Renovables, S.A., Annual General Meeting, Jun 19, 2025. Location: hotel marina badalona, avinguda deduard maristany 227, badalona, barcelona Spain Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: €0.13 (vs €0.066 in FY 2023) Full year 2024 results: EPS: €0.13 (up from €0.066 in FY 2023). Revenue: €1.99b (down 13% from FY 2023). Net income: €60.6m (up 109% from FY 2023). Profit margin: 3.0% (up from 1.3% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: €0.026 (vs €0.033 in 3Q 2023) Third quarter 2024 results: EPS: €0.026 (down from €0.033 in 3Q 2023). Revenue: €506.1m (down 11% from 3Q 2023). Net income: €11.8m (down 20% from 3Q 2023). Profit margin: 2.3% (down from 2.6% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Nov 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.8% to €1.66. The fair value is estimated to be €2.09, however this is not to be taken as a buy 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 87%. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 11% in the next 2 years. New Risk • Oct 07
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Price Target Changed • Oct 02
Price target increased by 8.6% to €2.39 Up from €2.20, the current price target is an average from 2 analysts. New target price is 24% above last closing price of €1.92. Stock is up 64% over the past year. The company is forecast to post earnings per share of €0.12 for next year compared to €0.066 last year. Reported Earnings • Oct 02
Second quarter 2024 earnings released: EPS: €0.039 (vs €0.014 in 2Q 2023) Second quarter 2024 results: EPS: €0.039 (up from €0.014 in 2Q 2023). Revenue: €402.6m (down 22% from 2Q 2023). Net income: €17.8m (up 181% from 2Q 2023). Profit margin: 4.4% (up from 1.2% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Oct 02
Consensus revenue estimates decrease by 12%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €2.21b to €1.95b. EPS estimate increased from €0.111 to €0.12 per share. Net income forecast to grow 31% next year vs 56% growth forecast for Renewable Energy industry in Spain. Consensus price target up from €2.30 to €2.39. Share price rose 7.3% to €1.92 over the past week. Price Target Changed • Sep 25
Price target increased by 9.0% to €2.29 Up from €2.10, the current price target is an average from 2 analysts. New target price is 28% above last closing price of €1.79. Stock is up 43% over the past year. The company is forecast to post earnings per share of €0.11 for next year compared to €0.066 last year. Buy Or Sell Opportunity • Jul 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.2% to €1.87. The fair value is estimated to be €1.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 82%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. New Risk • Jun 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% 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: Minor Risks High level of debt (159% net debt to equity). Share price has been volatile over the past 3 months (4.8% average weekly change). Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Price Target Changed • May 29
Price target increased by 11% to €2.10 Up from €1.90, the current price target is an average from 2 analysts. New target price is 8.5% above last closing price of €1.94. Stock is up 65% over the past year. The company is forecast to post earnings per share of €0.11 for next year compared to €0.066 last year. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: €0.036 (vs €0.005 in 1Q 2023) First quarter 2024 results: EPS: €0.036 (up from €0.005 in 1Q 2023). Revenue: €482.1m (down 31% from 1Q 2023). Net income: €15.9m (up €13.9m from 1Q 2023). Profit margin: 3.3% (up from 0.3% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Spain are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 17
Audax Renovables, S.A., Annual General Meeting, Jun 18, 2024 Audax Renovables, S.A., Annual General Meeting, Jun 18, 2024. Location: hotel marina badalona, avinguda d`eduard maristany 227, badalona Spain New Risk • Apr 04
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 Spanish stocks, typically moving 4.3% 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: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risk Share price has been volatile over the past 3 months (4.3% average weekly change). Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.56, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Renewable Energy industry in Spain. Total loss to shareholders of 25% over the past three years. Price Target Changed • Mar 25
Price target increased by 11% to €2.00 Up from €1.80, the current price target is provided by 1 analyst. New target price is 45% above last closing price of €1.38. Stock is up 22% over the past year. The company is forecast to post earnings per share of €0.099 for next year compared to €0.066 last year. Major Estimate Revision • Nov 14
Consensus EPS estimates increase by 77%, revenue downgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €2.30b to €2.27b. EPS estimate rose from €0.032 to €0.057. Net income forecast to grow 85% next year vs 53% growth forecast for Renewable Energy industry in Spain. Consensus price target of €1.90 unchanged from last update. Share price rose 8.0% to €1.22 over the past week. Reported Earnings • Oct 01
Second quarter 2023 earnings released: EPS: €0.014 (vs €0.002 loss in 2Q 2022) Second quarter 2023 results: EPS: €0.014 (up from €0.002 loss in 2Q 2022). Revenue: €519.2m (down 12% from 2Q 2022). Net income: €6.35m (up €7.16m from 2Q 2022). Profit margin: 1.2% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Sep 29
Consensus EPS estimates increase by 26% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.026 to €0.032. Revenue forecast steady at €2.30b. Net income forecast to grow 296% next year vs 31% growth forecast for Renewable Energy industry in Spain. Consensus price target of €1.90 unchanged from last update. Share price was steady at €1.26 over the past week. Major Estimate Revision • Sep 17
Consensus EPS estimates increase by 25% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.021 to €0.026. Revenue forecast steady at €2.30b. Net income forecast to grow 232% next year vs 30% growth forecast for Renewable Energy industry in Spain. Consensus price target of €1.90 unchanged from last update. Share price was steady at €1.30 over the past week. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: €0.01 (vs €0.006 in FY 2021) Full year 2022 results: EPS: €0.01 (up from €0.006 in FY 2021). Revenue: €2.63b (up 56% from FY 2021). Net income: €3.54m (up 25% from FY 2021). Profit margin: 0.1% (down from 0.2% in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 3.5% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 37% share price gain to €1.03, the stock trades at a forward P/E ratio of 59x. Average forward P/E is 20x in the Renewable Energy industry in Spain. Total loss to shareholders of 58% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Josep Maria Torres was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 03
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €586.6m (up 68% from 2Q 2021). Net loss: €804.0k (loss narrowed 84% from 2Q 2021). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Renewable Energy industry in Spain. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Sep 14
Audax Renovables, S.A. to Report Second Half, 2022 Results on Feb 28, 2023 Audax Renovables, S.A. announced that they will report second half, 2022 results on Feb 28, 2023 Major Estimate Revision • May 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.66b to €1.94b. EPS estimate fell from €0.07 to €0.04. Net income forecast to grow 567% next year vs 68% growth forecast for Renewable Energy industry in Spain. Consensus price target of €2.50 unchanged from last update. Share price fell 3.1% to €1.18 over the past week. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Josep Maria Torres was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 28
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: €0.01 (down from €0.06 in FY 2020). Revenue: €1.68b (up 74% from FY 2020). Net income: €2.84m (down 89% from FY 2020). Profit margin: 0.2% (down from 2.7% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to stay flat compared to a 8.3% growth forecast for the industry in Spain. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €1.03, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 25x in the Renewable Energy industry in Spain. Total loss to shareholders of 59% over the past three years. Major Estimate Revision • Dec 14
Consensus EPS estimates increase by 35% The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from €1.37b to €1.45b. EPS estimate increased from €0.02 to €0.03 per share. Net income forecast to grow 49% next year vs 86% growth forecast for Renewable Energy industry in Spain. Consensus price target down from €2.90 to €2.50. Share price was steady at €1.23 over the past week. Price Target Changed • Dec 13
Price target decreased to €2.50 Down from €2.90, the current price target is an average from 2 analysts. New target price is 105% above last closing price of €1.22. Stock is down 27% over the past year. The company is forecast to post earnings per share of €0.021 for next year compared to €0.06 last year. Reported Earnings • Oct 01
Second quarter 2021 earnings released The company reported a decent second quarter result with improved revenues, although earnings and control over costs were weaker. Second quarter 2021 results: Revenue: €348.4m (up 106% from 2Q 2020). Net loss: €5.11m (down 293% from profit in 2Q 2020). Major Estimate Revision • Jul 28
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from €1.27b to €1.40b. EPS estimate fell from €0.063 to €0.052 per share. Net income forecast to shrink 6.8% next year vs 25% growth forecast for Renewable Energy industry in Spain . Consensus price target of €2.90 unchanged from last update. Share price was steady at €1.90 over the past week. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS €0.06 (vs €0.058 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €967.4m (down 7.1% from FY 2019). Net income: €26.4m (up 3.8% from FY 2019). Profit margin: 2.7% (up from 2.4% in FY 2019). The increase in margin was driven by lower expenses. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 203%. Over the next year, revenue is forecast to grow 15%, compared to a 42% growth forecast for the Renewable Energy industry in Spain. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 19% share price gain to €2.31, the stock is trading at a trailing P/E ratio of 41.3x, up from the previous P/E ratio of 34.7x. This compares to an average P/E of 36x in the Renewable Energy industry in Europe. Total return to shareholders over the past year is a loss of 4.4%. Is New 90 Day High Low • Jan 07
New 90-day high: €2.31 The company is up 12% from its price of €2.06 on 09 October 2020. The Spanish market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 49% over the same period. Is New 90 Day High Low • Dec 02
New 90-day low: €1.65 The company is down 3.0% from its price of €1.69 on 03 September 2020. The Spanish market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Valuation Update With 7 Day Price Move • Nov 19
Market pulls back on stock over the past week After last week's 16% share price decline to €1.81, the stock is trading at a trailing P/E ratio of 32.3x, down from the previous P/E ratio of 38.3x. This compares to an average P/E of 29x in the Renewable Energy industry in Europe. Total return to shareholders over the past year is a loss of 9.5%. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS €0.014 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €222.3m (down 8.1% from 3Q 2019). Net income: €6.21m (up 45% from 3Q 2019). Profit margin: 2.8% (up from 1.8% in 3Q 2019). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Oct 14
Market bids up stock over the past week After last week's 16% share price gain to €2.19, the stock is trading at a trailing P/E ratio of 42.3x, up from the previous P/E ratio of 36.6x. This compares to an average P/E of 28x in the Renewable Energy industry in Europe. Total returns to shareholders over the past year are 29%. Is New 90 Day High Low • Oct 08
New 90-day high: €2.07 The company is up 20% from its price of €1.72 on 10 July 2020. The Spanish market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 9.0% over the same period. Reported Earnings • Sep 26
First half earnings released Over the last 12 months the company has reported total profits of €22.7m, up 31% from the prior year. Total revenue was €919.2m over the last 12 months, down 15% from the prior year.