Major Estimate Revision • Jun 03
Consensus EPS estimates fall by 68% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €180.6m to €175.6m. EPS estimate also fell from €0.387 per share to €0.125 per share. Net income forecast to shrink 74% next year vs 14% growth forecast for Leisure industry in France . Consensus price target down from €2.50 to €2.10. Share price was steady at €2.28 over the past week. Upcoming Dividend • Feb 24
Upcoming dividend of €0.13 per share Eligible shareholders must have bought the stock before 03 March 2026. Payment date: 05 March 2026. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 4.8%. Lower than top quartile of French dividend payers (5.4%). Higher than average of industry peers (3.3%). Buy Or Sell Opportunity • Feb 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 2.1% to €2.92. The fair value is estimated to be €2.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 9.4%. Revenue is forecast to decline by 6.1% in 2 years. Earnings are forecast to decline by 3.9% in the next 2 years. Declared Dividend • Jan 23
Dividend reduced to €0.13 Dividend of €0.13 is 28% lower than last year. Ex-date: 3rd March 2026 Payment date: 5th March 2026 Dividend yield will be 4.6%, which is higher than the industry average of 3.5%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has remained flat since 4 years ago. However, payments have been volatile during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Jan 22
SA Catana Group, Annual General Meeting, Feb 26, 2026 SA Catana Group, Annual General Meeting, Feb 26, 2026. Location: hotel novotel, avenue de la porte neuve, la rochelle France New Risk • Jan 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. High level of non-cash earnings (26% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (7.8% net profit margin). Market cap is less than US$100m (€82.4m market cap, or US$96.7m). Reported Earnings • Dec 11
Full year 2025 earnings released Full year 2025 results: Revenue: €174.9m (down 24% from FY 2024). Net income: €13.6m (down 54% from FY 2024). Profit margin: 7.8% (down from 13% in FY 2024). The decrease in margin was driven by lower revenue. Announcement • Nov 22
SA Catana Group to Report First Half, 2026 Results on Jun 01, 2026 SA Catana Group announced that they will report first half, 2026 results on Jun 01, 2026 Reported Earnings • Jul 15
First half 2025 earnings released: EPS: €0.23 (vs €0.45 in 1H 2024) First half 2025 results: EPS: €0.23 (down from €0.45 in 1H 2024). Revenue: €81.2m (down 23% from 1H 2024). Net income: €6.76m (down 50% from 1H 2024). Profit margin: 8.3% (down from 13% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 18% p.a. on average during the next 2 years, while revenues in the Leisure industry in Europe are expected to grow by 6.2%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 15% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 15% per year for the foreseeable future. High level of non-cash earnings (47% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). New Risk • May 07
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 French stocks, typically moving 7.5% 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 Risks Earnings are forecast to decline by an average of 17% per year for the foreseeable future. High level of non-cash earnings (63% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €3.21, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 19x in the Leisure industry in Europe. Total loss to shareholders of 58% over the past three years. Declared Dividend • Feb 26
Dividend increased to €0.18 Dividend of €0.18 is 20% higher than last year. Ex-date: 4th March 2025 Payment date: 6th March 2025 Dividend yield will be 3.5%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (18% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 11% per year over the past 3 years and payments have been stable during that time. EPS is expected to decline by 36% over the next 2 years. However, it would need to fall by 81% to increase the payout ratio to a potentially unsustainable range. Announcement • Jan 23
SA Catana Group, Annual General Meeting, Feb 27, 2025 SA Catana Group, Annual General Meeting, Feb 27, 2025. Location: hotel novotel, avenue de la porte neuve, la rochelle France Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €4.65, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Leisure industry in Europe. Total loss to shareholders of 38% over the past three years. Reported Earnings • Dec 07
Full year 2024 earnings released Full year 2024 results: Revenue: €229.5m (up 11% from FY 2023). Net income: €29.7m (up 54% from FY 2023). Profit margin: 13% (up from 9.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.5% p.a. on average during the next 2 years, while revenues in the Leisure industry in Europe are expected to grow by 9.9%. Announcement • Nov 27
SA Catana Group to Report First Half, 2025 Results on Jun 02, 2025 SA Catana Group announced that they will report first half, 2025 results on Jun 02, 2025 Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €4.67, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Leisure industry in France. Total returns to shareholders of 5.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.10 per share. Price Target Changed • Jun 09
Price target decreased by 7.5% to €7.45 Down from €8.05, the current price target is an average from 2 analysts. New target price is 35% above last closing price of €5.50. Stock is down 25% over the past year. The company is forecast to post earnings per share of €0.74 for next year compared to €0.64 last year. New Risk • Jun 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. High level of non-cash earnings (66% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Price Target Changed • Jun 04
Price target decreased by 12% to €7.55 Down from €8.55, the current price target is an average from 2 analysts. New target price is 38% above last closing price of €5.46. Stock is down 25% over the past year. The company is forecast to post earnings per share of €0.75 for next year compared to €0.64 last year. Upcoming Dividend • Feb 27
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 05 March 2024. Payment date: 07 March 2024. Payout ratio is a comfortable 23% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of French dividend payers (5.7%). Lower than average of industry peers (3.3%). Price Target Changed • Jan 15
Price target decreased by 7.9% to €8.15 Down from €8.85, the current price target is an average from 2 analysts. New target price is 60% above last closing price of €5.08. Stock is down 20% over the past year. The company is forecast to post earnings per share of €0.78 for next year compared to €0.64 last year. Reported Earnings • Jan 12
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: €0.64 (up from €0.53 in FY 2022). Revenue: €207.3m (up 40% from FY 2022). Net income: €19.4m (up 22% from FY 2022). Profit margin: 9.3% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Leisure industry in France. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €4.96, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Leisure industry in Europe. Total returns to shareholders of 49% over the past three years. New Risk • Dec 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended February 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: Major Risk High level of non-cash earnings (49% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported February 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Nov 07
SA Catana Group to Report Q2, 2024 Results on Jun 03, 2024 SA Catana Group announced that they will report Q2, 2024 results on Jun 03, 2024 New Risk • Jul 04
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 46% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (46% accrual ratio). Minor Risk Short dividend paying track record (1 year of continuous dividend payments). New Risk • Jul 03
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2022. 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 August 2022 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Buying Opportunity • May 05
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 3.4%. The fair value is estimated to be €8.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 51% in 2 years. Earnings is forecast to grow by 86% in the next 2 years. Buying Opportunity • Apr 18
Now 23% undervalued Over the last 90 days, the stock is up 3.3%. The fair value is estimated to be €8.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 51% in 2 years. Earnings is forecast to grow by 86% in the next 2 years. Buying Opportunity • Mar 06
Now 20% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be €9.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 51% in 2 years. Earnings is forecast to grow by 86% in the next 2 years. Upcoming Dividend • Feb 22
Upcoming dividend of €0.15 per share at 2.0% yield Eligible shareholders must have bought the stock before 01 March 2023. Payment date: 03 March 2023. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of French dividend payers (5.1%). In line with average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 19% share price gain to €6.24, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 11x in the Leisure industry in France. Total returns to shareholders of 76% over the past three years. 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. 4 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Nicolas Martin 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. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 17% share price gain to €6.29, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 11x in the Leisure industry in France. Total returns to shareholders of 141% over the past three years. Reported Earnings • Jun 05
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €4.74m from profit in 1H 2021). Profit margin: (down from 9.8% in 1H 2021). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • May 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €8.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 31%. Board Change • Apr 27
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. 4 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Director Nicolas Martin 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. Buying Opportunity • Mar 07
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 5.0%. The fair value is estimated to be €8.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% per annum over the last 3 years. Earnings per share has grown by 31% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 16% share price gain to €7.84, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 21x in the Leisure industry in Europe. Total returns to shareholders of 208% over the past three years. Reported Earnings • Jan 08
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: €0.46 (up from €0.17 in FY 2020). Revenue: €101.8m (up 23% from FY 2020). Net income: €14.1m (up 172% from FY 2020). Profit margin: 14% (up from 6.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Earnings per share (EPS) surpassed analyst estimates by 9.1%. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 33% per year. Reported Earnings • Dec 08
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €101.8m (up 23% from FY 2020). Net income: €14.6m (up 157% from FY 2020). Profit margin: 14% (up from 6.9% 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 • Dec 06
Investor sentiment improved over the past week After last week's 16% share price gain to €6.45, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 22x in the Leisure industry in Europe. Total returns to shareholders of 174% over the past three years. Reported Earnings • Jul 02
First half 2021 earnings released: EPS €0.15 (vs €0.066 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €48.5m (up 16% from 1H 2020). Net income: €4.74m (up 137% from 1H 2020). Profit margin: 9.8% (up from 4.8% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 22% per year. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to €4.12, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 22x in the Leisure industry in Europe. Total returns to shareholders of 28% over the past three years. Is New 90 Day High Low • Jan 18
New 90-day high: €3.75 The company is up 74% from its price of €2.16 on 20 October 2020. The French market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Leisure industry, which is up 37% over the same period. Reported Earnings • Jan 07
Full year 2020 earnings released: EPS €0.19 The company reported a soft full year result with weaker earnings and profit margins, although revenues were improved. Full year 2020 results: Revenue: €82.6m (up 6.7% from FY 2019). Net income: €5.68m (down 37% from FY 2019). Profit margin: 6.9% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 31
New 90-day high: €3.45 The company is up 59% from its price of €2.17 on 02 October 2020. The French market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Leisure industry, which is up 36% over the same period. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 25% share price gain to €3.44, the stock is trading at a trailing P/E ratio of 11.2x, up from the previous P/E ratio of 8.9x. This compares to an average P/E of 15x in the Leisure industry in France. Total returns to shareholders over the past three years are 23%. Is New 90 Day High Low • Dec 16
New 90-day high: €3.11 The company is up 35% from its price of €2.30 on 16 September 2020. The French market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Leisure industry, which is up 27% over the same period. Valuation Update With 7 Day Price Move • Nov 19
Market bids up stock over the past week After last week's 16% share price gain to €2.68, the stock is trading at a trailing P/E ratio of 8.7x, up from the previous P/E ratio of 7.5x. This compares to an average P/E of 16x in the Leisure industry in France. Total return to shareholders over the past three years is a loss of 1.9%. Valuation Update With 7 Day Price Move • Nov 13
Market bids up stock over the past week After last week's 17% share price gain to €2.44, the stock is trading at a trailing P/E ratio of 7.9x, up from the previous P/E ratio of 6.8x. This compares to an average P/E of 15x in the Leisure industry in France. Total returns to shareholders over the past three years are 16%. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 17% share price gain to €2.28, the stock is trading at a trailing P/E ratio of 7.4x, up from the previous P/E ratio of 6.3x. This compares to an average P/E of 15x in the Leisure industry in France. Total returns to shareholders over the past three years are 12%. Is New 90 Day High Low • Oct 29
New 90-day low: €1.95 The company is down 7.0% from its price of €2.11 on 30 July 2020. The French market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Leisure industry, which is up 8.0% over the same period.