New Risk • May 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x 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. This is currently the only risk that has been identified for the company. Reported Earnings • May 11
First quarter 2026 earnings released: €0.16 loss per share (vs €0.18 profit in 1Q 2025) First quarter 2026 results: €0.16 loss per share (down from €0.18 profit in 1Q 2025). Revenue: €89.4m (down 9.0% from 1Q 2025). Net loss: €863.0k (down 190% from profit in 1Q 2025). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 43% per year, which means it has not declined as severely as earnings. Announcement • Apr 15
Amadeus FiRe AG, Annual General Meeting, May 28, 2026 Amadeus FiRe AG, Annual General Meeting, May 28, 2026, at 11:00 W. Europe Standard Time. Reported Earnings • Mar 27
Full year 2025 earnings released: €0.44 loss per share (vs €6.01 profit in FY 2024) Full year 2025 results: €0.44 loss per share (down from €6.01 profit in FY 2024). Revenue: €363.6m (down 17% from FY 2024). Net loss: €2.41m (down 107% from profit in FY 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 41% per year whereas the company’s share price has fallen by 45% per year. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €29.63, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Professional Services industry in the United Kingdom. Total loss to shareholders of 73% over the past three years. Announcement • Nov 15
Amadeus FiRe AG (XTRA:AAD) acquired 70% stake in eduBITES GmbH. Amadeus FiRe AG (XTRA:AAD) acquired 70% stake in eduBITES GmbH on November 13, 2025.
Amadeus FiRe AG (XTRA:AAD) completed the acquisition of 70% stake in eduBITES GmbH on November 13, 2025. New Risk • Oct 31
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 51% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 359% Cash payout ratio: 124% Minor Risks High level of debt (51% net debt to equity). Profit margins are more than 30% lower than last year (1.6% net profit margin). Reported Earnings • Oct 31
Third quarter 2025 earnings released: €0.21 loss per share (vs €1.73 profit in 3Q 2024) Third quarter 2025 results: €0.21 loss per share (down from €1.73 profit in 3Q 2024). Revenue: €90.7m (down 19% from 3Q 2024). Net loss: €1.15m (down 112% from profit in 3Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 20% per year. Announcement • Sep 25
Amadeus FiRe AG (XTRA:AAD) agreed to acquire Masterplan com GmbH. Amadeus FiRe AG (XTRA:AAD) agreed to acquire Masterplan com GmbH on September 24, 2025.
The expected completion of the transaction is September 24, 2025. Reported Earnings • Aug 01
Second quarter 2025 earnings released: €0.06 loss per share (vs €1.39 profit in 2Q 2024) Second quarter 2025 results: €0.06 loss per share (down from €1.39 profit in 2Q 2024). Revenue: €88.4m (down 21% from 2Q 2024). Net loss: €314.0k (down 104% from profit in 2Q 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 15% per year. Upcoming Dividend • May 16
Upcoming dividend of €4.03 per share Eligible shareholders must have bought the stock before 23 May 2025. Payment date: 27 May 2025. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (1.9%). New Risk • May 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.9% Last year net profit margin: 8.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (5.9% net profit margin). Reported Earnings • May 07
First quarter 2025 earnings released: EPS: €0.18 (vs €1.67 in 1Q 2024) First quarter 2025 results: EPS: €0.18 (down from €1.67 in 1Q 2024). Revenue: €98.2m (down 14% from 1Q 2024). Net income: €982.0k (down 89% from 1Q 2024). Profit margin: 1.0% (down from 7.9% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Announcement • Apr 14
Amadeus FiRe AG, Annual General Meeting, May 22, 2025 Amadeus FiRe AG, Annual General Meeting, May 22, 2025, at 11:00 W. Europe Standard Time. Declared Dividend • Mar 31
Dividend reduced to €4.30 Dividend of €4.30 is 14% lower than last year. Ex-date: 23rd May 2025 Payment date: 27th May 2025 Dividend yield will be 5.7%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 3.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Announcement • Mar 28
Amadeus FiRe AG Proposes Cash Dividend The Management Board and Supervisory Board of Amadeus FiRe AG propose to the Annual General Meeting to once again distribute approximately two-thirds (around 67%) of the net income attributable to Amadeus Fire AG shareholders as a cash dividend of €4.03 per share. Reported Earnings • Mar 27
Third quarter 2024 earnings released: EPS: €1.73 (vs €2.22 in 3Q 2023) Third quarter 2024 results: EPS: €1.73 (down from €2.22 in 3Q 2023). Revenue: €111.6m (down 2.7% from 3Q 2023). Net income: €9.42m (down 26% from 3Q 2023). Profit margin: 8.4% (down from 11% in 3Q 2023). Revenue is forecast to grow 1.3% p.a. on average during the next 4 years, compared to a 6.3% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €78.05, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the Professional Services industry in the United Kingdom. Total loss to shareholders of 40% over the past three years. Announcement • Mar 22
Amadeus FiRe AG Provides Earnings Guidance for the Year 2025 Amadeus FiRe AG provided earnings guidance for the year 2025. The Group expects revenue for the financial year 2025 in a range between €387 million and €417 million. Buy Or Sell Opportunity • Mar 21
Now 30% undervalued Over the last 90 days, the stock has risen 5.8% to €80.70. The fair value is estimated to be €115, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.6% over the last 3 years. Earnings per share has grown by 4.5%. Revenue is forecast to decline by 5.8% in 2 years. Earnings are forecast to decline by 16% in the next 2 years. New Risk • Feb 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% 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 0.2% 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 • Oct 24
Third quarter 2024 earnings released: EPS: €1.73 (vs €2.22 in 3Q 2023) Third quarter 2024 results: EPS: €1.73 (down from €2.22 in 3Q 2023). Revenue: €111.6m (down 2.7% from 3Q 2023). Net income: €9.42m (down 26% from 3Q 2023). Profit margin: 8.4% (down from 11% in 3Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Oct 23
Amadeus FiRe AG to Report Fiscal Year 2024 Results on Mar 26, 2025 Amadeus FiRe AG announced that they will report fiscal year 2024 results on Mar 26, 2025 Announcement • Jul 31
Amadeus Fire AG Announces Appointment of Jörg Peters as Head of Investor Relations, Effective October 2024 AMADEUS FIRE AG announced that Jörg Peters will join as Head of Investor Relations in October 2024. He most recently worked as Head of Corporate Communications & Investor Relations at Encavis AG. His duties will include further enhancing the equity story and sustainability positioning of Amadeus Fire as a profitable growth and the personnel services and training company in the capital market. The experienced IR professional has served and has been responsible in the past for IPOs, capital increases, dual listings, international share and bond issues and M&A – pre and post IPO and IBO – with more than 30 years of experience on the job heading several IR departments of DAX companies like BMW Group and mg technologies as well as GfK and Hapag-Lloyd. He also served as a highly specialised and independent IR consultant in financial and sustainability communications as interim manager for numerous small- and mid-cap companies. In addition to his professional career, Jörg Peters has been Chairman and Board Member of the Deutsche Investor Relations Group (DIRK) for the past 30 years. He has also been serving as a lecturer at Frankfurt School of Finance & Management in the ongoing training and education of next generation of Certified Investor Relations Officers (CIRO) since 2005, initiated by DIRK. He is also member and guest lecturer at C.I.R.A. (Cercle Investor Relations Austria) and member of DVFA Deutsche Vereinigung für Finanzanalyse und Asset Management. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: €1.39 (vs €1.39 in 2Q 2023) Second quarter 2024 results: EPS: €1.39 (in line with 2Q 2023). Revenue: €111.2m (up 5.3% from 2Q 2023). Net income: €7.54m (down 4.9% from 2Q 2023). Profit margin: 6.8% (down from 7.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 10
Upcoming dividend of €5.00 per share Eligible shareholders must have bought the stock before 16 May 2024. Payment date: 20 May 2024. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (1.9%). Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: €1.67 (vs €2.06 in 1Q 2023) First quarter 2024 results: EPS: €1.67 (down from €2.06 in 1Q 2023). Revenue: €114.8m (up 3.4% from 1Q 2023). Net income: €9.08m (down 23% from 1Q 2023). Profit margin: 7.9% (down from 11% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: €7.12 (vs €6.72 in FY 2022) Full year 2023 results: EPS: €7.12 (up from €6.72 in FY 2022). Revenue: €442.4m (up 8.7% from FY 2022). Net income: €40.4m (up 5.3% from FY 2022). Profit margin: 9.1% (down from 9.4% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 21
Dividend increased to €5.00 Dividend of €5.00 is 11% higher than last year. Ex-date: 14th May 2024 Payment date: 16th May 2024 Dividend yield will be 4.1%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buying Opportunity • Jan 02
Now 21% undervalued Over the last 90 days, the stock is up 8.8%. The fair value is estimated to be €154, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 20% in the next 2 years. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: €2.22 (vs €2.16 in 3Q 2022) Third quarter 2023 results: EPS: €2.22 (up from €2.16 in 3Q 2022). Revenue: €114.7m (up 9.5% from 3Q 2022). Net income: €12.7m (up 2.8% from 3Q 2022). Profit margin: 11% (in line with 3Q 2022). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: €1.39 (vs €1.11 in 2Q 2022) Second quarter 2023 results: EPS: €1.39 (up from €1.11 in 2Q 2022). Revenue: €105.7m (up 7.5% from 2Q 2022). Net income: €7.94m (up 25% from 2Q 2022). Profit margin: 7.5% (up from 6.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 12
Now 22% undervalued Over the last 90 days, the stock is up 6.4%. The fair value is estimated to be €168, 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 26%. Revenue is forecast to grow by 16% in 2 years. Earnings is forecast to grow by 27% in the next 2 years. Upcoming Dividend • May 12
Upcoming dividend of €4.50 per share at 3.3% yield Eligible shareholders must have bought the stock before 19 May 2023. Payment date: 23 May 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (2.4%). Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €136, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Professional Services industry in the United Kingdom. Total returns to shareholders of 81% over the past three years. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: €6.71 (vs €6.09 in FY 2021) Full year 2022 results: EPS: €6.71 (up from €6.09 in FY 2021). Revenue: €407.1m (up 9.3% from FY 2021). Net income: €38.4m (up 10% from FY 2021). Profit margin: 9.4% (in line with FY 2021). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 20% per year. Buying Opportunity • Mar 07
Now 21% undervalued Over the last 90 days, the stock is up 9.3%. The fair value is estimated to be €158, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 23% in the next 2 years. Buying Opportunity • Feb 10
Now 21% undervalued Over the last 90 days, the stock is up 5.4%. The fair value is estimated to be €155, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 18%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 23% in the next 2 years. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: €2.16 (vs €2.05 in 3Q 2021) Third quarter 2022 results: EPS: €2.16 (up from €2.05 in 3Q 2021). Revenue: €104.8m (up 8.7% from 3Q 2021). Net income: €12.3m (up 5.3% from 3Q 2021). Profit margin: 12% (in line with 3Q 2021). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Professional Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 27
Second quarter 2022 earnings released: EPS: €1.11 (vs €1.30 in 2Q 2021) Second quarter 2022 results: EPS: €1.11 (down from €1.30 in 2Q 2021). Revenue: €98.3m (up 8.3% from 2Q 2021). Net income: €6.33m (down 15% from 2Q 2021). Profit margin: 6.4% (down from 8.2% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.1%, compared to a 11% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 13
Upcoming dividend of €3.04 per share Eligible shareholders must have bought the stock before 20 May 2022. Payment date: 24 May 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of British dividend payers (4.8%). Higher than average of industry peers (2.0%). Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: €1.91 (vs €1.38 in 1Q 2021) First quarter 2022 results: EPS: €1.91 (up from €1.38 in 1Q 2021). Revenue: €102.8m (up 17% from 1Q 2021). Net income: €10.9m (up 39% from 1Q 2021). Profit margin: 11% (up from 9.0% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.4%, compared to a 11% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €206, 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% per annum over the last 3 years. Earnings per share has declined by 3.3% per annum over the last 3 years. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS €2.05 (vs €0.79 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €96.4m (up 49% from 3Q 2020). Net income: €11.7m (up 169% from 3Q 2020). Profit margin: 12% (up from 6.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Reported Earnings • Jul 24
Second quarter 2021 earnings released: EPS €1.30 (vs €0.37 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €90.7m (up 49% from 2Q 2020). Net income: €7.43m (up 290% from 2Q 2020). Profit margin: 8.2% (up from 3.1% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Executive Departure • Jun 04
Independent Member of Supervisory Board Knuth Henneke has left the company On the 27th of May, Knuth Henneke's tenure as Independent Member of Supervisory Board ended after 10.0 years in the role. We don't have any record of a personal shareholding under Knuth's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.42 years. Executive Departure • Jun 04
Employee Representative Member of Supervisory Board Ulrike Bert has left the company On the 27th of May, Ulrike Bert's tenure as Employee Representative Member of Supervisory Board ended after 21.4 years in the role. As of March 2021, Ulrike still personally held only 500.00 shares (€39k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.42 years. Executive Departure • Jun 04
Member of the Supervisory Board Hartmut van der Straeten has left the company On the 27th of May, Hartmut van der Straeten's tenure as Member of the Supervisory Board ended after 20.4 years in the role. We don't have any record of a personal shareholding under Hartmut's name. A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.42 years. Upcoming Dividend • May 21
Upcoming dividend of €1.55 per share Eligible shareholders must have bought the stock before 28 May 2021. Payment date: 01 June 2021. Trailing yield: 1.0%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (1.9%). Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS €1.38 (vs €0.96 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €87.7m (up 15% from 1Q 2020). Net income: €7.88m (up 58% from 1Q 2020). Profit margin: 9.0% (up from 6.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS €3.29 (vs €4.62 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €280.2m (up 20% from FY 2019). Net income: €17.8m (down 26% from FY 2019). Profit margin: 6.3% (down from 10% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 02
New 90-day high: €128 The company is up 8.0% from its price of €118 on 02 December 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is down 5.0% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: €124 The company is up 16% from its price of €107 on 09 October 2020. The British market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 5.0% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: €121 The company is up 13% from its price of €107 on 27 August 2020. The British market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is down 1.0% over the same period. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 16% share price gain to €106, the stock is trading at a trailing P/E ratio of 38.7x, up from the previous P/E ratio of 33.3x. This compares to an average P/E of 27x in the Professional Services industry in the United Kingdom. Total returns to shareholders over the past three years are 47%. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total profits of €14.5m, down 46% from the prior year. Total revenue was €261.9m over the last 12 months, up 15% from the prior year. Is New 90 Day High Low • Oct 24
New 90-day low: €96.80 The company is down 17% from its price of €116 on 24 July 2020. The British market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 2.0% over the same period. Is New 90 Day High Low • Sep 19
New 90-day high: €117 The company is up 6.0% from its price of €110 on 19 June 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 2.0% over the same period.