New Risk • May 22
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.5x 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 (0.5x net interest cover). Minor Risk Large one-off items impacting financial results. Announcement • May 19
Keyrus S.A., Annual General Meeting, Jun 18, 2026 Keyrus S.A., Annual General Meeting, Jun 18, 2026. Location: 157 rue anatole france, levallois perret France New Risk • May 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 121% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 29
Full year 2025 earnings released Full year 2025 results: Revenue: €331.7m (down 6.4% from FY 2024). Net income: €3.27m (up 318% from FY 2024). Profit margin: 1.0% (up from 0.2% in FY 2024). The increase in margin was driven by lower expenses. New Risk • Apr 19
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 Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Announcement • Jan 25
Keyrus S.A. (ENXTPA:ALKEY) acquired Vuealta Limited from YFM Equity Partners LLP and others. Keyrus S.A. (ENXTPA:ALKEY) acquired Vuealta Limited from YFM Equity Partners LLP and others on January 23, 2026.
Keyrus S.A. (ENXTPA:ALKEY) completed the acquisition of Vuealta Limited from YFM Equity Partners LLP and others on January 23, 2026. New Risk • Nov 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.6x 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 (1.6x net interest cover). Minor Risk Large one-off items impacting financial results. 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 Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Announcement • Jul 04
Keyrus S.A. (ENXTPA:ALKEY) acquired an unknown majority stake in Upquest Srl. Keyrus S.A. (ENXTPA:ALKEY) acquired an unknown majority stake in Upquest Srl on July 3, 2025. This strategic operation marks an important step for Keyrus in its ambition to strengthen its business and technology consulting activity in Europe and to consolidate its position in the financial services sector.
Keyrus S.A. (ENXTPA:ALKEY) completed the acquisition of an unknown majority stake in Upquest Srl on July 3, 2025. New Risk • May 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 80% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. 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 Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Announcement • May 15
Keyrus S.A., Annual General Meeting, Jun 18, 2025 Keyrus S.A., Annual General Meeting, Jun 18, 2025. Location: 157 rue anatole france, levallois perret France Reported Earnings • May 02
Full year 2024 earnings released: EPS: €0.05 (vs €0.22 in FY 2023) Full year 2024 results: EPS: €0.05 (down from €0.22 in FY 2023). Revenue: €355.8m (down 3.9% from FY 2023). Net income: €783.0k (down 78% from FY 2023). Profit margin: 0.2% (down from 0.9% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. New Risk • Apr 19
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 (1.9x net interest cover). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €9.82, the stock trades at a trailing P/E ratio of 44.9x. Average trailing P/E is 19x in the IT industry in France. Total returns to shareholders of 154% over the past three years. New Risk • Jul 24
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 French stocks, typically moving 9.6% 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 Interest payments are not well covered by earnings (2.7x net interest cover). Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €9.02, the stock trades at a trailing P/E ratio of 41.3x. Average trailing P/E is 22x in the IT industry in France. Total returns to shareholders of 218% over the past three years. New Risk • Jun 01
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 6.7% 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 (2.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €8.04, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 23x in the IT industry in France. Total returns to shareholders of 174% over the past three years. New Risk • Apr 22
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x 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 (2.8x net interest cover). Minor Risk Large one-off items impacting financial results. Reported Earnings • Apr 21
Full year 2023 earnings released Full year 2023 results: Revenue: €370.3m (up 5.2% from FY 2022). Net income: €3.75m (down 2.0% from FY 2022). Profit margin: 1.0% (in line with FY 2022). New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Large one-off items impacting financial results. Reported Earnings • Oct 08
First half 2023 earnings released: EPS: €0.18 (vs €0.12 in 1H 2022) First half 2023 results: EPS: €0.18 (up from €0.12 in 1H 2022). Revenue: €186.8m (up 12% from 1H 2022). Net income: €2.91m (up 57% from 1H 2022). Profit margin: 1.6% (up from 1.1% in 1H 2022). Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jul 27
Founder recently bought €384k worth of stock On the 25th of July, Eric Cohen bought around 55k shares on-market at roughly €7.00 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €2.8m. Eric has been a buyer over the last 12 months, purchasing a net total of €7.2m worth in shares. Recent Insider Transactions • Jun 15
Founder recently bought €951k worth of stock On the 13th of June, Eric Cohen bought around 136k shares on-market at roughly €7.00 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Eric's only on-market trade for the last 12 months. New Risk • Jun 08
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 French stocks, typically moving 16% 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 Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 11% per year over the past 5 years. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 60% After last week's 60% share price gain to €6.84, the stock trades at a trailing P/E ratio of 28.4x. Average trailing P/E is 18x in the IT industry in France. Total returns to shareholders of 191% 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. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Philippe Lansade was the last independent director to join the board, commencing their role in 2017. 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 14
Investor sentiment improved over the past week After last week's 17% share price gain to €3.92, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 17x in the IT industry in France. Total returns to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €3.60, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 17x in the IT industry in France. Total returns to shareholders of 40% over the past three years. Board Change • Apr 27
Insufficient new directors 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. Independent Director Philippe Lansade was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 17% share price gain to €3.93, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 23x in the IT industry in France. Total loss to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improved over the past week After last week's 18% share price gain to €3.70, the stock trades at a trailing P/E ratio of 75.8x. Average trailing P/E is 29x in the IT industry in France. Total loss to shareholders of 36% over the past three years. Reported Earnings • May 06
Full year 2020 earnings released: EPS €0.05 (vs €0.38 loss 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: €261.2m (down 8.9% from FY 2019). Net income: €776.0k (up €6.78m from FY 2019). Profit margin: 0.3% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 13
New 90-day high: €3.40 The company is up 63% from its price of €2.08 on 15 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: €3.08 The company is up 50% from its price of €2.06 on 09 September 2020. The French market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 4.0% over the same period. Announcement • Nov 13
Keyrus S.A. (ENXTPA:KEY) acquired an unknown majority stake in Xiomega Consulting. Keyrus S.A. (ENXTPA:KEY) acquired an unknown majority stake in Xiomega Consulting on November 12, 2020. Xiomega Consulting reported total sales of €3 million in 2019.
Keyrus S.A. (ENXTPA:KEY) completed the acquisition of an unknown majority stake in Xiomega Consulting on November 12, 2020. Is New 90 Day High Low • Oct 29
New 90-day low: €1.92 The company is down 12% from its price of €2.17 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 IT industry, which is down 11% over the same period. Reported Earnings • Oct 02
First half earnings released Over the last 12 months the company has reported total losses of €153.0k, with losses narrowing by 91% from the prior year. Total revenue was €275.2m over the last 12 months, down 2.8% from the prior year.