New Risk • Jun 08
New major risk - Revenue and earnings growth Earnings have declined by 41% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Negative equity (-€28m). Earnings have declined by 41% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (6.0% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (€27.2m market cap, or US$31.4m). Announcement • May 25
Holaluz-Clidom, S.A., Annual General Meeting, Jun 25, 2026 Holaluz-Clidom, S.A., Annual General Meeting, Jun 25, 2026. New Risk • May 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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: Major Risk Negative equity (-€28m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (€12m net loss in 2 years). Share price has been volatile over the past 3 months (6.4% average weekly change). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (€26.9m market cap, or US$31.2m). Announcement • Apr 24
Holaluz-Clidom, S.A. to Report Fiscal Year 2025 Results on Apr 27, 2026 Holaluz-Clidom, S.A. announced that they will report fiscal year 2025 results at 9:00 AM, Romance Standard Time on Apr 27, 2026 New Risk • Jan 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major 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 Risks Negative equity (-€17m). Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (€9.1m net loss in 3 years). Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (€23.9m market cap, or US$28.0m). New Risk • Dec 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Spanish stocks, typically moving 6.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (6.5% average weekly change). Negative equity (-€17m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (€9.1m net loss in 3 years). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (€19.3m market cap, or US$22.6m). New Risk • Dec 02
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €31m Forecast net loss in 3 years: €9.1m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Negative equity (-€17m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (€9.1m net loss in 3 years). Share price has been volatile over the past 3 months (6.1% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (€21.8m market cap, or US$25.4m). New Risk • Nov 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 Negative equity (-€17m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (5.1% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (€24.6m market cap, or US$28.6m). Announcement • Oct 28
Holaluz-Clidom, S.A. to Report First Half, 2025 Results on Oct 30, 2025 Holaluz-Clidom, S.A. announced that they will report first half, 2025 results on Oct 30, 2025 Announcement • May 23
Holaluz-Clidom, S.A., Annual General Meeting, Jun 26, 2025 Holaluz-Clidom, S.A., Annual General Meeting, Jun 26, 2025. New Risk • May 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% 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 Risks Share price has been highly volatile over the past 3 months (9.8% average weekly change). Negative equity (-€17m). Earnings have declined by 47% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (€29.5m market cap, or US$33.2m). New Risk • Nov 08
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€3.2m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-€3.2m). Earnings have declined by 55% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€30.2m market cap, or US$32.6m). Announcement • Nov 06
Holaluz-Clidom, S.A. announced that it expects to receive €22 million in funding from ICOSIUM Investment, S.L Holaluz-Clidom, S.A. announced a private placement to issue 3,600,000 common shares at an issue price of €1.80 per share for the gross proceeds of €6,840,000 and the second phase of the investment of the remaining €15,520,000, is expected to be completed within the following months at €2.10 per share through the subscription of a convertible loan. on November 4, 2024. The transaction will include participation from returning investor ICOSIUM Investment, S.L. with 14.12% stake. The initial phase will be the investment of €6,48,000 of capital contribution through the issuance of new common shares at €1.80 per share without pre-emptive rights, using the prior authorization granted by the This will grant ICOSIUM with 14,12% ownership of the Company. The investor will appoint one additional member to the Board of Directors of company. The total investment is €22,000,000 in the transaction. Reported Earnings • May 05
Full year 2023 earnings released Full year 2023 results: Revenue: €283.1m (down 69% from FY 2022). Net loss: €26.2m (loss widened 412% from FY 2022). New Risk • May 03
New major risk - Revenue and earnings growth Earnings have declined by 80% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 80% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€56.1m market cap, or US$60.2m). Announcement • Apr 26
Holaluz-Clidom, S.A. to Report Fiscal Year 2023 Results on Apr 30, 2024 Holaluz-Clidom, S.A. announced that they will report fiscal year 2023 results at 9:00 AM, Romance Standard Time on Apr 30, 2024 Buy Or Sell Opportunity • Apr 24
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to €2.66. The fair value is estimated to be €3.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 20% in a year. Earnings are forecast to grow by 88% in the next year. Announcement • Apr 23
Holaluz-Clidom, S.A. announced that it expects to receive €8 million in funding Holaluz-Clidom, S.A. announced a private placement of €2 million on convertible loan and €6 million equity line on April 23, 2024. The transaction will include participation from several Catalan family offices for convertible loan. Buy Or Sell Opportunity • Feb 08
Now 22% undervalued Over the last 90 days, the stock has risen 4.8% to €2.82. The fair value is estimated to be €3.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 20% in a year. Earnings are forecast to grow by 88% in the next year. Buying Opportunity • Nov 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 47%. The fair value is estimated to be €3.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 18% in a year. Earnings is forecast to grow by 79% in the next year. Reported Earnings • Nov 06
First half 2023 earnings released First half 2023 results: €0.96 loss per share. Net loss: €20.9m (flat on 1H 2022). Revenue is expected to decline by 13% p.a. on average during the next 4 years, while revenues in the Electric Utilities industry in Spain are expected to grow by 1.5%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. New Risk • Nov 01
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €5.1m Forecast net loss in 2 years: €3.4m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.6% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€3.4m net loss in 2 years). Market cap is less than US$100m (€72.0m market cap, or US$75.9m). Price Target Changed • Nov 01
Price target decreased by 20% to €7.50 Down from €9.35, the current price target is an average from 2 analysts. New target price is 130% above last closing price of €3.26. Stock is down 59% over the past year. The company posted a net loss per share of €0.23 last year. Announcement • Oct 20
Holaluz-Clidom, S.A. to Report First Half, 2023 Results on Oct 31, 2023 Holaluz-Clidom, S.A. announced that they will report first half, 2023 results on Oct 31, 2023 New Risk • Oct 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €89.5m (US$94.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (6.5% average weekly change). Minor Risk Market cap is less than US$100m (€89.5m market cap, or US$94.9m). New Risk • Jul 06
New major 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 6.0% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 03
Full year 2022 earnings released Full year 2022 results: Revenue: €919.8m (up 61% from FY 2021). Net loss: €5.12m (loss narrowed 39% from FY 2021). Revenue is forecast to decline by 16% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Spain are expected to remain flat. Price Target Changed • Apr 30
Price target decreased by 15% to €11.50 Down from €13.50, the current price target is an average from 2 analysts. New target price is 93% above last closing price of €5.96. Stock is down 53% over the past year. The company is forecast to post earnings per share of €0.31 next year compared to a net loss per share of €0.39 last year. Price Target Changed • Nov 16
Price target decreased to €13.50 Down from €14.65, the current price target is an average from 2 analysts. New target price is 69% above last closing price of €8.00. Stock is down 34% over the past year. The company posted a net loss per share of €0.39 last year. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Isabela Perez Nivela was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Oct 15
Price target decreased to €13.50 Down from €14.65, the current price target is an average from 2 analysts. New target price is 57% above last closing price of €8.60. Stock is down 28% over the past year. The company posted a net loss per share of €0.39 last year. Board Change • Apr 27
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. 6 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Independent Director Isabela Perez Nivela was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Is New 90 Day High Low • Feb 18
New 90-day high: €9.40 The company is up 30% from its price of €7.24 on 19 November 2020. The Spanish market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.40 per share. Price Target Changed • Feb 11
Price target raised to €13.05 Up from €11.25, the current price target is an average from 2 analysts. The new target price is 49% above the current share price of €8.76. As of last close, the stock is down 4.8% over the past year. Is New 90 Day High Low • Dec 30
New 90-day high: €7.96 The company is up 17% from its price of €6.78 on 01 October 2020. The Spanish market is up 18% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electric Utilities industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.14 per share. Is New 90 Day High Low • Oct 06
New 90-day high: €7.40 The company is up 10.0% from its price of €6.75 on 08 July 2020. The Spanish market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is down 1.0% over the same period.