New Risk • Mar 13
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €1.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Significant insider selling over the past 3 months (€1.3m sold). Market cap is less than US$100m (€24.7m market cap, or US$26.9m). Reported Earnings • Jul 05
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: €2.67 loss per share (further deteriorated from €0.61 loss in FY 2022). Revenue: €86.3m (down 17% from FY 2022). Net loss: €10.5m (loss widened 335% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 105%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in France. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. New Risk • Jun 02
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 Share price has been highly volatile over the past 3 months (19% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€24.3m market cap, or US$26.4m). Announcement • May 27
AURES Technologies S.A., Annual General Meeting, Jun 28, 2024 AURES Technologies S.A., Annual General Meeting, Jun 28, 2024. Location: hotel novotel evry courcouronnes, 3 rue de la mare neuve, courcouronnes France Price Target Changed • Apr 23
Price target increased by 31% to €6.30 Up from €4.80, the current price target is provided by 1 analyst. New target price is 63% above last closing price of €3.87. Stock is down 33% over the past year. The company is forecast to post a net loss per share of €1.30 next year compared to a net loss per share of €0.62 last year. New Risk • Feb 26
New major risk - Revenue and earnings growth Earnings have declined by 57% 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 (15% average weekly change). Earnings have declined by 57% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€20.1m market cap, or US$21.8m). Major Estimate Revision • Nov 10
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €85.8m to €83.4m. Losses expected to increase from €1.33 per share to €1.47. Electronic industry in France expected to see average net income growth of 24% next year. Consensus price target of €6.20 unchanged from last update. Share price rose 22% to €2.08 over the past week. New Risk • Aug 11
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 6.1% 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: Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (€15.5m market cap, or US$17.0m). Major Estimate Revision • Jul 25
Consensus EPS estimates fall by 85% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €96.2m to €88.4m. Losses expected to increase from €0.72 per share to €1.33. Electronic industry in France expected to see average net income growth of 49% next year. Consensus price target down from €12.00 to €6.20. Share price fell 11% to €4.46 over the past week. Reported Earnings • May 30
Full year 2022 earnings released: €0.62 loss per share (vs €0.64 profit in FY 2021) Full year 2022 results: €0.62 loss per share (down from €0.64 profit in FY 2021). Revenue: €103.4m (up 3.8% from FY 2021). Net loss: €2.42m (down 196% from profit in FY 2021). Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Electronic industry in France. 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 32% per year, which means it has not declined as severely as earnings. Major Estimate Revision • May 10
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €114.6m to €110.9m. Now expected to report a loss of €0.06 per share instead of €0.08 per share profit previously forecast. Electronic industry in France expected to see average net income growth of 7.9% next year. Consensus price target down from €14.50 to €13.30. Share price fell 3.1% to €5.72 over the past week. Price Target Changed • Mar 06
Price target decreased by 11% to €14.50 Down from €16.25, the current price target is provided by 1 analyst. New target price is 69% above last closing price of €8.58. Stock is down 55% over the past year. The company is forecast to post a net loss per share of €0.82 compared to earnings per share of €0.64 last year. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. No independent directors (6 non-independent directors). Group Finance Director & Director Sabine De Vuyst was the last 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: Lack of independent directors. Insufficient board refreshment. Price Target Changed • Oct 15
Price target decreased to €22.45 Down from €27.87, the current price target is an average from 3 analysts. New target price is 138% above last closing price of €9.42. Stock is down 66% over the past year. The company posted earnings per share of €0.64 last year. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €12.15, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Electronic industry in France. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €15.45, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 20x in the Electronic industry in France. Total loss to shareholders of 34% over the past three years. Reported Earnings • May 20
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €0.64 (down from €0.77 in FY 2020). Revenue: €99.6m (up 14% from FY 2020). Net income: €2.52m (down 17% from FY 2020). Profit margin: 2.5% (down from 3.5% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 5.0%, compared to a 26% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Price Target Changed • May 14
Price target decreased to €30.67 Down from €33.73, the current price target is an average from 2 analysts. New target price is 61% above last closing price of €19.00. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.94 for next year compared to €0.77 last year. Price Target Changed • May 10
Price target decreased to €31.57 Down from €34.33, the current price target is an average from 2 analysts. New target price is 64% above last closing price of €19.25. Stock is down 29% over the past year. The company is forecast to post earnings per share of €0.94 for next year compared to €0.77 last year. Major Estimate Revision • May 04
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from €118.8m to €104.5m. EPS estimate fell from €1.86 to €0.68 per share. Net income forecast to shrink 33% next year vs 38% growth forecast for Electronic industry in France . Consensus price target of €33.73 unchanged from last update. Share price fell 3.4% to €19.90 over the past week. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. No independent directors (6 non-independent directors). Group Finance Director & Director Sabine De Vuyst was the last 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €20.30, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Electronic industry in France. Total loss to shareholders of 39% over the past three years. Price Target Changed • Feb 25
Price target decreased to €33.83 Down from €36.50, the current price target is an average from 3 analysts. New target price is 39% above last closing price of €24.30. Stock is down 8.0% over the past year. The company is forecast to post earnings per share of €1.00 for next year compared to €0.77 last year. Reported Earnings • Oct 20
First half 2021 earnings released: EPS €0.58 (vs €0.11 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €51.3m (up 20% from 1H 2020). Net income: €2.27m (up 449% from 1H 2020). Profit margin: 4.4% (up from 1.0% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 26
Consensus EPS estimates increase to €1.60 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from €109.2m to €112.6m. EPS estimate increased from €1.43 to €1.60 per share. Net income forecast to grow 87% next year vs 57% growth forecast for Electronic industry in France. Consensus price target of €31.33 unchanged from last update. Share price fell 2.0% to €29.10 over the past week. Price Target Changed • Jul 26
Price target increased to €33.83 Up from €30.10, the current price target is an average from 3 analysts. New target price is 16% above last closing price of €29.10. Stock is up 93% over the past year. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improved over the past week After last week's 16% share price gain to €28.00, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Electronic industry in France. Total loss to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 16% share price gain to €27.30, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 18x in the Electronic industry in France. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €23.02 per share. Price Target Changed • Feb 17
Price target raised to €28.50 Up from €25.20, the current price target is an average from 3 analysts. The new target price is close to the current share price of €27.40. As of last close, the stock is up 19% over the past year. Price Target Changed • Jan 11
Price target raised to €25.20 Up from €23.20, the current price target is provided by 1 analyst. The new target price is close to the current share price of €24.60. As of last close, the stock is up 1.2% over the past year. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 16% share price gain to €24.90, the stock is trading at a trailing P/E ratio of 68.1x, up from the previous P/E ratio of 58.5x. This compares to an average P/E of 36x in the Electronic industry in France. Total return to shareholders over the past three years is a loss of 26%. Is New 90 Day High Low • Jan 07
New 90-day high: €24.00 The company is up 68% from its price of €14.30 on 09 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.62 per share. Is New 90 Day High Low • Dec 10
New 90-day high: €23.50 The company is up 61% from its price of €14.60 on 11 September 2020. The French market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.73 per share. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 17% share price gain to €21.90, the stock is trading at a trailing P/E ratio of 59.9x, up from the previous P/E ratio of 51x. This compares to an average P/E of 36x in the Electronic industry in France. Total return to shareholders over the past three years is a loss of 32%. Price Target Changed • Dec 03
Price target raised to €24.70 Up from €21.83, the current price target is an average from 2 analysts. The new target price is 22% above the current share price of €20.20. As of last close, the stock is down 4.7% over the past year. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 17% share price gain to €17.50, the stock is trading at a trailing P/E ratio of 23x, up from the previous P/E ratio of 19.7x. This compares to an average P/E of 20x in the Electronic industry in France. Total return to shareholders over the past three years is a loss of 42%. Is New 90 Day High Low • Nov 09
New 90-day high: €16.10 The company is up 22% from its price of €13.25 on 11 August 2020. The French market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.38 per share.