Applus Services Management

Management criteria checks 4/4

Applus Services' CEO is Joan I. Casas, appointed in Jun 2022, has a tenure of 1.83 years. total yearly compensation is €1.09M, comprised of 55.1% salary and 44.9% bonuses, including company stock and options. directly owns 0.08% of the company’s shares, worth €1.32M. The average tenure of the management team and the board of directors is 8.3 years and 5.2 years respectively.

Key information

Joan I. Casas

Chief executive officer

€1.1m

Total compensation

CEO salary percentage	55.1%
CEO tenure	1.8yrs
CEO ownership	0.08%
Management average tenure	8.3yrs
Board average tenure	5.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Joan I. Casas's remuneration changed compared to Applus Services's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	€1m	€600k	€26m
Sep 30 2023	n/a	n/a	€45m
Jun 30 2023	n/a	n/a	€54m
Mar 31 2023	n/a	n/a	€51m
Dec 31 2022	€994k	€482k	€60m
Sep 30 2022	n/a	n/a	€51m
Jun 30 2022	n/a	n/a	€43m
Mar 31 2022	n/a	n/a	€38m
Dec 31 2021	€554k	n/a	€32m
Sep 30 2021	n/a	n/a	€29m
Jun 30 2021	n/a	n/a	€26m
Mar 31 2021	n/a	n/a	-€66m
Dec 31 2020	€554k	n/a	-€158m
Sep 30 2020	n/a	n/a	-€151m
Jun 30 2020	n/a	n/a	-€144m
Mar 31 2020	n/a	n/a	-€44m
Dec 31 2019	€310k	n/a	€56m

Compensation vs Market: Joan's total compensation ($USD1.16M) is below average for companies of similar size in the UK market ($USD2.33M).

Compensation vs Earnings: Joan's compensation has been consistent with company performance over the past year.

CEO

Joan I. Casas (57 yo)

1.8yrs

Tenure

€1,089,000

Compensation

Mr. Joan Amigó I. Casas had been the Chief Financial Officer at Applus Services, S.A. since December 2007 until June 28, 2022 and serves as its Chief Executive Officer since June 28, 2022 and served as its...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Joan I. Casas	CEO & Executive Director	1.8yrs	€1.09m	0.080% € 1.3m
Julian De Unamuno Moreno	Chief Financial Officer	1.3yrs	no data	no data
Aston George Swift	Vice President of Investor Relations	10.3yrs	no data	no data
Eva Argiles Malonda	General Counsel	11.3yrs	no data	no data
Anna Orpinell	Chief Compliance Officer	3.7yrs	no data	no data
Jose Perez Fernandez	Senior Vice President of Human Resources	18.3yrs	no data	no data
Cristina Garcia	Senior Vice President of Corporate Development	2.9yrs	no data	no data
Aitor Retes Aguado	Executive Vice President of Automotive Division	15.3yrs	no data	no data
Jordi Brufau Redondo	Executive Vice President of Laboratories Division	17.3yrs	€162.00k	no data
Ramon Fernandez Armas	Executive Vice President of Energy & Industry Division	7.3yrs	no data	no data
Brian Dawes	Head of Middle East - Energy	9.3yrs	no data	no data
Javier Serrano	Executive Vice President of Energy & Industry Division	3yrs	no data	no data

8.3yrs

Average Tenure

56yo

Average Age

Experienced Management: 0QTZ's management team is seasoned and experienced (8.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Joan I. Casas	CEO & Executive Director	4.9yrs	€1.09m	0.080% € 1.3m
Ernesto Mata Lopez	Other External Director	16.4yrs	€85.00k	no data
Nicolas Villen Jimenez	Non-Executive Independent Director	8.5yrs	€95.00k	no data
Christopher Cole	Independent Non-Executive Chairman	9.9yrs	€305.00k	0.020% € 328.8k
Marie-Francoise Damesin	Independent Director	2.4yrs	€96.00k	no data
Essimari Kairisto	Non-Executive Independent Director	5yrs	€86.00k	no data
Brendan Wynne Connolly	Independent Director	2.4yrs	€105.00k	no data
Maria Esteruelas Aguirre	Non-Executive Independent Director	5.2yrs	€106.00k	no data
Maria Cristina de Luna Basagoiti	Non-Executive Independent Director	7.8yrs	€86.00k	no data

5.2yrs

Average Tenure

66yo

Average Age

Experienced Board: 0QTZ's board of directors are considered experienced (5.2 years average tenure).

Applus Services Management

Management criteria checks 4/4

Key information

Recent management updates

High number of new directors

High number of new directors

High number of new directors

Recent updates

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: €0.21 (vs €0.35 in FY 2022)

Applus Services, S.A. to Report First Half, 2024 Results on Jul 30, 2024

Now 20% undervalued

Applus Services, S.A. (BME:APPS) acquired Barlovento Recursos Naturales, S.L.

ISQ Global Infrastructure Fund III (UST), L.P. a fund managed by ISQ Global Infrastructure Fund III (UST), L.P. and TDR Capital V L.P. a fund managed by TDR Capital LLP made a voluntary and and competing takeover offer to acquire Applus Services, S.A. (BME:APPS) for approximately €1.2 billion.

First half 2023 earnings released: EPS: €0.24 (vs €0.19 in 1H 2022)

Applus Services, S.A. Revises Organic Revenue Guidance for the Full Year 2023

Upcoming dividend of €0.13 per share at 1.8% yield

I Squared Capital Considers Takeover Bid for Applus

Ten Oaks Capital completed the acquisition of Non-destructive asset testing and inspection business and operations of Applus+.

Ten Oaks Capital completed the acquisition of Non-destructive asset testing and inspection business and operations of Applus+.

Ten Oaks Capital completed the acquisition of Non-destructive asset testing and inspection business and operations of Applus+.

Applus Services, S.A. (BME:APPS) acquired Rescoll SARL.

Applus Services, S.A. (BME:APPS) acquired Suzhou Chunfen Test Technology Services Co., Ltd.

Applus Confirms Takeover Interests, Does Not Identify Potential Bidders

Investor sentiment improves as stock rises 16%

Full year 2022 earnings released: EPS: €0.36 (vs €0.23 in FY 2021)

Applus Services, S.A. to Report Fiscal Year 2023 Results on Feb 27, 2024

Opus Inspection, Inc. agreed to acquire Applus Technologies, Inc. from Applus Services, S.A.

A-Katsastus Oy acquired K1 Katsastajat Oy from Applus Services, S.A. (BME:APPS).

Applus Services, S.A. to Report Q2, 2023 Results on Jul 25, 2023

First half 2022 earnings released

Applus Services, S.A. (BME:APPS) acquired jtsec.

Applus Services, S.A. (BME:APPS) announced the agreement to acquire K2 Ingeniería S.A.S.

Upcoming dividend of €0.12 per share

Entidad Idv Madrid Sociedad Limitada acquired Applus Services, S.A. (BME:APPS).

High number of new directors

Investor sentiment deteriorated over the past week

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Applus Services, S.A. Provides Revenue Guidance for the Year 2022

Applus Services, S.A. (BME:APPS) acquired Lightship Security, Inc.

High number of new directors

High number of new directors

First half 2021 earnings released: EPS €0.10 (vs €1.19 loss in 1H 2020)

Applus Services, S.A. (BME : APPS) acquired Enertis Solar Sl.

Upcoming dividend of €0.12 per share

Applus Services, S.A. (BME:APPS) acquired Ima Materialforschung Und Anwendungstechnik Gmbh.

New 90-day high: €9.31

Full year 2020 earnings released: €1.11 loss per share (vs €0.39 profit in FY 2019)

Revenue misses expectations

Applus Services, S.A. to Report Q3, 2021 Results on Oct 26, 2021

New 90-day high: €9.07

New 90-day high: €9.00

Applus Services, S.A. (BME:APPS) agreed to acquire Soil and Foundation Company Limited and Geotechnical and Environmental Company (“SAFCO”) from the founding partners for €25 million.

New 90-day high: €8.67

Applus Services, S.A. (BME:APPS) acquired QPS Evaluation Services Inc. from the founding partners for CAD 65 million.

Applus Services, S.A. (BME:APPS) completed the acquisition of Besikta Bilprovning i Sverige AB from Volati AB (OM:VOLO).

New 90-day high: €7.78

Applus Services, S.A. (BME:APPS) acquired Reliable Analysis Incorporated from founding family for €67 million.

New 90-day low: €6.26

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age