Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €25.65, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 10x in the Electronic industry in France. Total returns to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €18.05 per share. New Risk • May 20
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 7.6% 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. Buy Or Sell Opportunity • May 08
Now 21% overvalued Over the last 90 days, the stock has fallen 4.0% to €21.50. The fair value is estimated to be €17.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 6.6%. For the next 3 years, revenue is forecast to grow by 6.2% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €20.90, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 9x in the Electronic industry in France. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €18.87 per share. Announcement • Apr 08
Lumibird SA, Annual General Meeting, Apr 28, 2026 Lumibird SA, Annual General Meeting, Apr 28, 2026. Reported Earnings • Mar 13
Full year 2025 earnings released Full year 2025 results: Revenue: €225.6m (up 7.4% from FY 2024). Net income: €14.0m (up 146% from FY 2024). Profit margin: 6.2% (up from 2.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic industry in France. Announcement • Jan 27
Lumibird SA to Report Fiscal Year 2025 Results on Mar 10, 2026 Lumibird SA announced that they will report fiscal year 2025 results After-Market on Mar 10, 2026 Major Estimate Revision • Oct 17
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from €0.646 to €0.74. Revenue forecast steady at €227.8m. Net income forecast to grow 84% next year vs 45% growth forecast for Electronic industry in France. Consensus price target broadly unchanged at €25.95. Share price rose 5.2% to €20.40 over the past week. New Risk • Sep 25
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €15.40, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 11x in the Electronic industry in France. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €23.93 per share. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €15.00, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 11x in the Electronic industry in France. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €24.13 per share. Price Target Changed • May 04
Price target increased by 10% to €12.50 Up from €11.35, the current price target is an average from 2 analysts. New target price is 8.2% above last closing price of €11.55. Stock is down 9.8% over the past year. The company is forecast to post earnings per share of €0.54 for next year compared to €0.26 last year. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €10.70, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 10x in the Electronic industry in France. Total loss to shareholders of 48% over the past three years. New Risk • Apr 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 34% 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: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €8.80, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 10x in the Electronic industry in France. Total loss to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €9.84, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 8x in the Electronic industry in France. Total loss to shareholders of 49% over the past three years. Announcement • Jan 28
Lumibird SA, Annual General Meeting, Apr 29, 2025 Lumibird SA, Annual General Meeting, Apr 29, 2025. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €8.34, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 7x in the Electronic industry in France. Total loss to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to €9.34, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 7x in the Electronic industry in France. Total loss to shareholders of 56% over the past three years. Reported Earnings • Sep 29
First half 2024 earnings released First half 2024 results: Revenue: €98.0m (flat on 1H 2023). Net loss: €100.0k (down 120% from profit in 1H 2023). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Electronic industry in France. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €8.00, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 13x in the Electronic industry in France. Total loss to shareholders of 58% over the past three years. Price Target Changed • Jul 23
Price target decreased by 9.0% to €16.25 Down from €17.85, the current price target is an average from 2 analysts. New target price is 48% above last closing price of €10.95. Stock is down 24% over the past year. The company is forecast to post earnings per share of €0.60 for next year compared to €0.32 last year. Announcement • Jul 23
Lumibird SA Maintains Group Earnings Guidance for 2024 Lumibird SA maintained group earnings guidance for 2024. The Group is maintaining its revenue growth target for 2024 and anticipates an improvement in profitability compared with the 17% EBITDA margin achieved in 2023, despite the impact Of H1 2024 revenue on profitability for the period. New Risk • Apr 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 46% 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 Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.4% net profit margin). Reported Earnings • Mar 13
Full year 2023 earnings released Full year 2023 results: Revenue: €203.6m (up 4.8% from FY 2022). Net income: €7.10m (down 38% from FY 2022). Profit margin: 3.5% (down from 5.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in France. Buy Or Sell Opportunity • Mar 11
Now 20% undervalued Over the last 90 days, the stock has risen 13% to €13.70. The fair value is estimated to be €17.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 11%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 85% in the next 2 years. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €12.18, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Electronic industry in France. Total loss to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €15.52 per share. Major Estimate Revision • Dec 17
Consensus EPS estimates fall by 42% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €213.1m to €200.5m. EPS estimate also fell from €0.71 per share to €0.415 per share. Net income forecast to grow 26% next year vs 5.3% growth forecast for Electronic industry in France. Consensus price target down from €20.55 to €17.00. Share price fell 7.3% to €11.40 over the past week. Price Target Changed • Dec 15
Price target decreased by 19% to €17.00 Down from €21.00, the current price target is an average from 2 analysts. New target price is 49% above last closing price of €11.40. Stock is down 27% over the past year. The company is forecast to post earnings per share of €0.71 for next year compared to €0.51 last year. Announcement • Oct 26
Lumibird SA Provides Revenues Guidance for the Fourth Quarter and Full Year 2023 Lumibird SA provided revenues guidance for the fourth quarter and full year 2023. For the fourth quarter, with a strong order book and production facilities at full capacity, the company again expects strong sales, with a cautious target of over 8% organic growth in annual revenues. The group can therefore maintain its target for 2023 of organic sales growth of at least 8%, based on the scope at 31 December 2022. Major Estimate Revision • Oct 04
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.803 to €0.715. Revenue forecast unchanged from €213.3m at last update. Net income forecast to grow 79% next year vs 34% growth forecast for Electronic industry in France. Consensus price target broadly unchanged at €21.00. Share price was steady at €14.00 over the past week. Reported Earnings • Oct 01
First half 2023 earnings released: EPS: €0.02 (vs €0.06 in 1H 2022) First half 2023 results: EPS: €0.02 (down from €0.06 in 1H 2022). Revenue: €98.5m (up 14% from 1H 2022). Net income: €496.0k (down 60% from 1H 2022). Profit margin: 0.5% (down from 1.4% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in France. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year. Announcement • Sep 02
Lumibird SA (ENXTPA:LBIRD completed the acquisition of Convergent Photonics Italia S.r.l and Convergent assets of Prima Industrie North America from Prima Industrie SpA. Lumibird SA (ENXTPA:LBIRD signed an agreement to acquire Convergent Photonics Italia S.r.l and Convergent assets of Prima Industrie North America from Prima Industrie SpA on May 15, 2023. Lumibird will finance its acquisition through its available cash or by drawing on the bank lines available to the group, in compliance with the covenants. 80 people of Convergent divided between Italy and the USA, will join the Lumibird Group. The Convergent activities had a turnover of 15 million euros in 2022 for a negative EBITDA of 1.5 million euros. The acquisition is subject to regulatory approvals in Italy and the US. The transaction is excepted to be completed in the second half of 2023.Lumibird SA (ENXTPA:LBIRD completed the acquisition of Convergent Photonics Italia S.r.l and Convergent assets of Prima Industrie North America from Prima Industrie SpA on September 1, 2023. Buying Opportunity • Jul 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.1%. The fair value is estimated to be €17.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings is also forecast to grow by 26% per annum over the same time period. Announcement • May 17
Lumibird SA (ENXTPA:LBIRD signed an agreement to acquire Convergent Photonics Italia S.r.l and Convergent assets of Prima Industrie North America from Prima Industrie SpA. Lumibird SA (ENXTPA:LBIRD signed an agreement to acquire Convergent Photonics Italia S.r.l and Convergent assets of Prima Industrie North America from Prima Industrie SpA on May 15, 2023. Lumibird will finance its acquisition through its available cash or by drawing on the bank lines available to the group, in compliance with the covenants. 80 people of Convergent divided between Italy and the USA, will join the Lumibird Group. The Convergent activities had a turnover of 15 million euros in 2022 for a negative EBITDA of 1.5 million euros. The acquisition is subject to regulatory approvals in Italy and the US. The transaction is excepted to be completed in the second half of 2023. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €15.92, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 8x in the Electronic industry in France. Total returns to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.70 per share. Reported Earnings • Mar 15
Full year 2022 earnings released Full year 2022 results: Revenue: €191.0m (up 15% from FY 2021). Net income: €11.4m (down 18% from FY 2021). Profit margin: 6.0% (down from 8.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Electronic industry in France. Major Estimate Revision • Feb 01
Consensus EPS estimates fall by 23%, revenue upgraded The consensus outlook for fiscal year 2022 has been updated. 2022 revenue forecast increased from €186.8m to €190.9m. EPS estimate fell from €0.58 to €0.445 per share. Net income forecast to grow 48% next year vs 42% growth forecast for Electronic industry in France. Consensus price target up from €21.05 to €23.00. Share price was steady at €18.52 over the past week. Price Target Changed • Jan 31
Price target increased by 8.7% to €22.55 Up from €20.75, the current price target is an average from 2 analysts. New target price is 24% above last closing price of €18.20. Stock is down 13% over the past year. The company is forecast to post earnings per share of €0.45 for next year compared to €0.62 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Emmanuel Cueff was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improved over the past week After last week's 19% share price gain to €16.98, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 13x in the Electronic industry in France. Total returns to shareholders of 28% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €24.13 per share. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €15.32, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 20x in the Electronic industry in France. Total returns to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €23.92 per share. Major Estimate Revision • Sep 24
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €174.7m to €185.4m. EPS estimate fell from €0.79 to €0.59 per share. Net income forecast to shrink 4.7% next year vs 14% growth forecast for Electronic industry in France . Consensus price target down from €24.25 to €20.75. Share price fell 15% to €16.00 over the past week. Price Target Changed • Sep 23
Price target decreased to €20.75 Down from €24.60, the current price target is an average from 3 analysts. New target price is 30% above last closing price of €16.00. Stock is down 15% over the past year. The company is forecast to post earnings per share of €0.79 for next year compared to €0.62 last year. Announcement • Sep 23
Lumibird SA Provides Earnings Guidance for the Year 2023 Lumibird SA provided earnings guidance for the year 2023. With a still extremely robust order book and a strong level of demand, combined with a stabilized level of costs, during the second half of the year LUMIBIRD expects, to a great extent, to catch up the profitability lag recorded in H1. The investments made in the Group’s industrial facilities and the strengthening of its capacity are expected to support a strong level of commercial development over the coming half-year periods. In this context, the Group is confirming its objectives for 2023 reported revenues of €250 million. Announcement • Jul 26
Lumibird SA Reaffirms Revenues Guidance for the Fiscal Year 2023 Lumibird SA reaffirmed revenues guidance for the fiscal year 2023. The group confirmed its targets for 2023 reported revenues of over €250 million, driven by organic and external growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Emmanuel Cueff was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 26
Lumibird SA Provides Revenue Guidance for 2023 Lumibird SA Group is confirming its targets for 2023 reported revenues of over €250 million. Buying Opportunity • Apr 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 7.3%. The fair value is estimated to be €25.29, 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 6.8%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Price Target Changed • Mar 22
Price target increased to €24.60 Up from €22.30, the current price target is an average from 3 analysts. New target price is 17% above last closing price of €21.00. Stock is up 33% over the past year. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €162.5m (up 26% from FY 2020). Net income: €13.9m (up 147% from FY 2020). Profit margin: 8.6% (up from 4.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 12%, compared to a 23% growth forecast for the industry in France. Price Target Changed • Mar 18
Price target increased to €23.35 Up from €21.65, the current price target is an average from 3 analysts. New target price is 8.6% above last closing price of €21.50. Stock is up 35% over the past year. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 17% share price gain to €19.80, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 18x in the Electronic industry in France. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.11 per share. Reported Earnings • Sep 24
First half 2021 earnings released The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €75.4m (up 62% from 1H 2020). Net income: €5.10m (up €7.03m from 1H 2020). Profit margin: 6.8% (up from net loss in 1H 2020). Price Target Changed • Sep 22
Price target increased to €19.65 Up from €17.35, the current price target is an average from 3 analysts. New target price is 6.6% above last closing price of €18.44. Stock is up 75% over the past year. Announcement • Jul 20
Lumibird SA (ENXTPA:LBIRD) signed an exclusive agreement to acquire 37% stake in CILAS from Areva SA. Lumibird SA (ENXTPA:LBIRD) signed an exclusive agreement to acquire 37% stake in CILAS from Areva SA on July 19, 2021. The acquisition, which is subject to the usual administrative authorisations, should be finalised in the next few days.