New Risk • May 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 12% 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 17
First quarter 2026 earnings released First quarter 2026 results: €0.23 loss per share. Revenue: €147.6m (down 3.7% from 1Q 2025). Net loss: €6.26m (loss widened 123% from 1Q 2025). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Mar 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to €4.98. The fair value is estimated to be €6.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Reported Earnings • Mar 15
Full year 2025 earnings released Full year 2025 results: Revenue: €670.4m (down 11% from FY 2024). Net loss: €19.6m (down €23.3m from profit in FY 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Machinery industry in the United Kingdom. Reported Earnings • Oct 30
Third quarter 2025 earnings released Third quarter 2025 results: €0.066 loss per share. Revenue: €164.2m (flat on 3Q 2024). Net loss: €1.81m (loss widened 34% from 3Q 2024). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 04
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €169.5m (down 15% from 2Q 2024). Net loss: €4.28m (down 498% from profit in 2Q 2024). Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Machinery industry in the United Kingdom. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: €155.4m (down 21% from 1Q 2024). Net loss: €2.81m (down 199% from profit in 1Q 2024). Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Machinery industry in the United Kingdom. Upcoming Dividend • Apr 28
Upcoming dividend of €0.04 per share Eligible shareholders must have bought the stock before 05 May 2025. Payment date: 07 May 2025. Trailing yield: 0.6%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (2.5%). Declared Dividend • Mar 24
Dividend reduced to €0.04 Dividend of €0.04 is 71% lower than last year. Ex-date: 5th May 2025 Payment date: 7th May 2025 Dividend yield will be 0.6%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 29%. Cash payout ratio: 288%. Announcement • Mar 19
Biesse S.p.A. announces Annual dividend, payable on May 07, 2025 Biesse S.p.A. announced Annual dividend of EUR 0.0400 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025. Reported Earnings • Oct 28
Third quarter 2024 earnings released Third quarter 2024 results: €0.049 loss per share. Revenue: €165.1m (down 7.0% from 3Q 2023). Net loss: €1.35m (loss narrowed 62% from 3Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in the United Kingdom. Reported Earnings • Jul 31
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €202.7m (down 2.9% from 2Q 2023). Net income: €1.08m (down 85% from 2Q 2023). Profit margin: 0.5% (down from 3.4% in 2Q 2023). Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Machinery industry in the United Kingdom. Reported Earnings • May 16
First quarter 2024 earnings released First quarter 2024 results: EPS: €0.10. Revenue: €198.0m (down 5.5% from 1Q 2023). Net income: €2.85m (down 77% from 1Q 2023). Profit margin: 1.4% (down from 5.9% in 1Q 2023). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in the United Kingdom. Declared Dividend • Mar 25
Dividend of €0.14 announced Shareholders will receive a dividend of €0.14. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 1.2%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 30%. Cash payout ratio: 15%. Reported Earnings • Mar 17
Full year 2023 earnings released Full year 2023 results: Revenue: €791.5m (down 3.8% from FY 2022). Net income: €12.5m (down 59% from FY 2022). Profit margin: 1.6% (down from 3.7% in FY 2022). Revenue is expected to decline by 1.5% p.a. on average during the next 2 years, while revenues in the Machinery industry in the United Kingdom are expected to grow by 4.9%. Announcement • Jan 30
Biesse S.p.A. completed the acquisition of Gmm Finance S.R.L. for €69 million. Biesse S.p.A. (BIT:BSS) signed a contract to acquire Gmm Finance S.R.L. from Consilium Private Equity Fund III managed by Consilium SGR p.A. and Fgl Holding S.R.L. for €72 million on December 21, 2023. The transaction is expected to close on February 15, 2024.Biesse S.p.A. completed the acquisition of Gmm Finance S.R.L. for €69 million on January 29, 2024. Reported Earnings • Oct 29
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €181.8m (down 6.4% from 3Q 2022). Net loss: €3.56m (down 165% from profit in 3Q 2022). Revenue is expected to decline by 6.5% p.a. on average during the next 3 years, while revenues in the Machinery industry in the United Kingdom are expected to grow by 4.8%. New Risk • Oct 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 10% 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 Risk Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jul 30
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €214.1m (down 3.8% from 2Q 2022). Net income: €7.18m (down 25% from 2Q 2022). Profit margin: 3.4% (down from 4.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.7% p.a. on average during the next 3 years, while revenues in the Machinery industry in the United Kingdom are expected to grow by 5.5%. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 13
First quarter 2023 earnings released First quarter 2023 results: Revenue: €211.6m (up 7.6% from 1Q 2022). Net income: €12.3m (up 26% from 1Q 2022). Profit margin: 5.8% (up from 5.0% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Machinery industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 01
Upcoming dividend of €0.33 per share at 2.4% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 30% and the cash payout ratio is 85%. Trailing yield: 2.4%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (2.5%). Reported Earnings • Mar 16
Full year 2022 earnings released Full year 2022 results: Revenue: €830.8m (up 12% from FY 2021). Net income: €30.3m (down 11% from FY 2021). Profit margin: 3.6% (down from 4.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.8% growth forecast for the Machinery industry in the United Kingdom. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €17.46, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Machinery industry in the United Kingdom. Total returns to shareholders of 65% over the past three years. Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 2 experienced directors. 2 highly experienced directors. Statutory Auditor Giovanni Ciurlo is the most experienced director on the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €11.29, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Machinery industry in the United Kingdom. Total loss to shareholders of 11% over the past three years. Reported Earnings • Oct 28
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €199.6m (up 16% from 3Q 2021). Net income: €5.46m (down 22% from 3Q 2021). Profit margin: 2.7% (down from 4.0% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Machinery industry in the United Kingdom are expected to grow by 5.3%. Reported Earnings • Aug 01
Second quarter 2022 earnings released: EPS: €0.35 (vs €0.79 in 2Q 2021) Second quarter 2022 results: EPS: €0.35 (down from €0.79 in 2Q 2021). Revenue: €222.5m (up 15% from 2Q 2021). Net income: €9.58m (down 55% from 2Q 2021). Profit margin: 4.3% (down from 11% in 2Q 2021). Over the next year, revenue is forecast to stay flat compared to a 9.4% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 9% per year. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €14.21, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Machinery industry in the United Kingdom. Total loss to shareholders of 1.6% over the past three years. Upcoming Dividend • May 16
Upcoming dividend of €0.62 per share Eligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Trailing yield: 3.9%. Lower than top quartile of British dividend payers (4.9%). Higher than average of industry peers (2.0%). Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 2 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Statutory Auditor Giovanni Ciurlo is the most experienced director on the board, commencing their role in 2006. Independent Director Ferruccio Borsani was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 15
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €749.2m (up 29% from FY 2020). Net income: €34.2m (up €31.7m from FY 2020). Profit margin: 4.6% (up from 0.4% in FY 2020). Revenue exceeded analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 5.1%, compared to a 12% growth forecast for the industry in the United Kingdom. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €15.98, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Machinery industry in the United Kingdom. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €21.56 per share. Buying Opportunity • Mar 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be €22.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% per annum over the last 3 years. Earnings per share has grown by 641% over the last year. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS €0.26 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €172.9m (up 22% from 3Q 2020). Net income: €7.07m (up 174% from 3Q 2020). Profit margin: 4.1% (up from 1.8% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Aug 02
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €212.6m (up 98% from 2Q 2020). Net income: €21.5m (up €22.5m from 2Q 2020). Profit margin: 10% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • May 15
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €162.5m (up 8.9% from 1Q 2020). Net income: €6.82m (up 222% from 1Q 2020). Profit margin: 4.2% (up from 1.4% in 1Q 2020). Reported Earnings • Apr 05
Full year 2020 earnings released: EPS €0.092 (vs €0.48 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €578.8m (down 18% from FY 2019). Net income: €2.53m (down 81% from FY 2019). Profit margin: 0.4% (down from 1.8% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 18
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €584.6m (down 18% from FY 2019). Net income: €2.46m (down 81% from FY 2019). Profit margin: 0.4% (down from 1.8% in FY 2019). Is New 90 Day High Low • Feb 03
New 90-day high: €21.53 The company is up 27% from its price of €16.93 on 05 November 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €17.39 per share. Is New 90 Day High Low • Jan 06
New 90-day high: €19.32 The company is up 14% from its price of €16.96 on 08 October 2020. The British market is up 11% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Machinery industry, which is also up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.67 per share. Is New 90 Day High Low • Dec 15
New 90-day high: €18.22 The company is up 29% from its price of €14.12 on 15 September 2020. The British market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.82 per share. Is New 90 Day High Low • Nov 19
New 90-day high: €17.57 The company is up 25% from its price of €14.00 on 20 August 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.89 per share. Is New 90 Day High Low • Oct 06
New 90-day high: €15.17 The company is up 17% from its price of €13.02 on 08 July 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.57 per share.