Announcement • May 20
AdUX SA, Annual General Meeting, Jun 24, 2026 AdUX SA, Annual General Meeting, Jun 24, 2026. Location: 27 rue de mogador, paris France Reported Earnings • Apr 07
Full year 2025 earnings released Full year 2025 results: Revenue: €24.6m (flat on FY 2024). Net income: €2.16m (down 42% from FY 2024). Profit margin: 8.8% (down from 15% in FY 2024). Revenue is forecast to stay flat during the next 2 years, in line with the revenue forecast for the Media industry in France. New Risk • Apr 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 34% 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 34% per year for the foreseeable future. High level of non-cash earnings (34% accrual ratio). Minor Risks High level of debt (107% net debt to equity). Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (€9.28m market cap, or US$10.7m). Announcement • May 22
AdUX SA, Annual General Meeting, Jun 26, 2025 AdUX SA, Annual General Meeting, Jun 26, 2025. Location: 27 rue de mogador, paris France Announcement • May 25
AdUX SA, Annual General Meeting, Jun 26, 2024 AdUX SA, Annual General Meeting, Jun 26, 2024. Location: 27 rue de mogador, paris France Announcement • May 09
AdUX Announces Stepping Down of Benjamin Van De Vrie from Board of Directors AdUX announced that Mr. Benjamin van de Vrie will step down from the company board of directors following the company’s Annual General Meeting to be held on 26th June 2024. Mr. Benjamin van de Vrie has been Chairman of the company’s Board of Directors since April 2022 and has overseen an important phase in the company’s development. In addition, the Board of Directors will now start the process of identifying and selecting an additional director to join the AdUX Board following the end of Mr. Benjamin van de Vrie’s tenure. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €1.53, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Media industry in France. Total loss to shareholders of 15% over the past three years. Major Estimate Revision • Dec 01
Consensus EPS estimates increase by 24% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.25 to €0.31. Revenue forecast steady at €22.2m. Net income forecast to shrink 56% next year vs 18% growth forecast for Media industry in France . Consensus price target of €3.00 unchanged from last update. Share price was steady at €1.12 over the past week. New Risk • Oct 12
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 6.9% 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 31% per year for the foreseeable future. Market cap is less than US$10m (€7.15m market cap, or US$7.53m). Minor Risks Negative equity (-€2.9m). Share price has been volatile over the past 3 months (6.9% average weekly change). Large one-off items impacting financial results. Reported Earnings • Apr 09
Full year 2022 earnings released Full year 2022 results: Revenue: €23.6m (down 1.3% from FY 2021). Net income: €4.09m (up €3.85m from FY 2021). Profit margin: 17% (up from 1.0% in FY 2021). Revenue is expected to decline by 3.5% p.a. on average during the next 2 years, while revenues in the Media industry in France are expected to grow by 1.9%. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €1.63, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Media industry in France. Total loss to shareholders of 2.4% over the past three years. Price Target Changed • Nov 16
Price target decreased to €2.86 Down from €3.21, the current price target is an average from 2 analysts. New target price is 73% above last closing price of €1.65. Stock is down 23% over the past year. The company is forecast to post earnings per share of €0.13 for next year compared to €0.038 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Catharina Hillström 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. Reported Earnings • Oct 12
First half 2022 earnings released First half 2022 results: Revenue: €11.4m (up 18% from 1H 2021). Net income: €134.0k (up €605.0k from 1H 2021). Profit margin: 1.2% (up from net loss in 1H 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Media industry in France. Price Target Changed • Aug 09
Price target decreased to €2.86 Down from €3.21, the current price target is an average from 2 analysts. New target price is 50% above last closing price of €1.91. Stock is down 2.6% over the past year. The company is forecast to post earnings per share of €0.13 for next year compared to €0.038 last year. Major Estimate Revision • May 25
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €23.5m to €25.4m. EPS estimate fell from €0.28 to €0.14 per share. Net income forecast to grow 260% next year vs 2.1% growth forecast for Media industry in France. Consensus price target broadly unchanged at €3.31. Share price rose 2.3% to €1.97 over the past week. Price Target Changed • Apr 27
Price target increased to €3.28 Up from €2.77, the current price target is provided by 1 analyst. New target price is 82% above last closing price of €1.80. Stock is down 3.7% over the past year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Catharina Hillström was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The analyst covering AdUX previously expected the company to break even in 2021. New forecast suggests the company will make a profit of €1.70m in 2022. Average annual earnings growth of 69% is required to achieve expected profit on schedule. Price Target Changed • Nov 22
Price target increased to €3.08 Up from €2.77, the current price target is provided by 1 analyst. New target price is 15% above last closing price of €2.67. Stock is up 68% over the past year. The company is forecast to post earnings per share of €0.19 next year compared to a net loss per share of €0.14 last year. Executive Departure • Aug 04
Chief Executive Officer Salih Cosgun has left the company On the 1st of August, Salih Cosgun was replaced as CEO by Mickael Ferreira after 1.5 years in the role. We don't have any record of a personal shareholding under Salih's name. Salih is the only executive to leave the company over the last 12 months. Under Salih's leadership, the company delivered a total shareholder return of -5.4%. Reported Earnings • Aug 03
First half 2021 earnings released: €0.076 loss per share (vs €0.16 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €9.60m (up 16% from 1H 2020). Net loss: €471.0k (loss narrowed 52% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 113% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Breakeven Date Change • Aug 01
Forecast breakeven moved forward to 2021 The 2 analysts covering AdUX previously expected the company to break even in 2022. New consensus forecast suggests the company will make a profit of €710.0k in 2021. Earnings growth of 83% is required to achieve expected profit on schedule. Reported Earnings • May 02
Full year 2020 earnings released: €0.14 loss per share (vs €0.06 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: €17.9m (down 28% from FY 2019). Net loss: €851.0k (loss widened 113% from FY 2019). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Price Target Changed • Jan 21
Price target raised to €1.60 Up from €1.38, the current price target is an average from 2 analysts. The new target price is 38% below the current share price of €2.56. As of last close, the stock is up 72% over the past year. Is New 90 Day High Low • Jan 20
New 90-day high: €2.80 The company is up 112% from its price of €1.32 on 22 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.31 per share. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 65% share price gain to €2.80, the stock is trading at a trailing P/E ratio of 26.7x, up from the previous P/E ratio of 16.2x. This compares to an average P/E of 13x in the Media industry in France. Total return to shareholders over the past three years is a loss of 35%. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 16% share price gain to €1.82, the stock is trading at a trailing P/E ratio of 17.3x, up from the previous P/E ratio of 15x. This compares to an average P/E of 12x in the Media industry in France. Total return to shareholders over the past three years is a loss of 58%. Is New 90 Day High Low • Dec 29
New 90-day high: €1.79 The company is up 33% from its price of €1.35 on 30 September 2020. The French market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 29% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.26 per share. Valuation Update With 7 Day Price Move • Nov 24
Market bids up stock over the past week After last week's 19% share price gain to €1.66, the stock is trading at a trailing P/E ratio of 15.9x, up from the previous P/E ratio of 13.3x. This compares to an average P/E of 12x in the Media industry in France. Total return to shareholders over the past three years is a loss of 65%. Is New 90 Day High Low • Nov 24
New 90-day high: €1.66 The company is up 19% from its price of €1.40 on 26 August 2020. The French market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.89 per share. Major Estimate Revision • Nov 21
Analysts update estimates The company's losses in 2020 are expected to improve with analysts raising their consensus EPS forecasts from -€0.27 to -€0.22. Revenue estimate was approximately flat at €22.9m. The Media industry in France is expected to see a 1.1% decline in net income next year. The consensus price target increased from €1.38 to €1.45. Share price is up 14% to €1.51 over the past week.