New Risk • Jul 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk High level of debt (67% net debt to equity). Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CHF458, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 19x in the Electronic industry in the United Kingdom. Total loss to shareholders of 77% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF491 per share. Buy Or Sell Opportunity • Jul 27
Now 23% undervalued Over the last 90 days, the stock has risen 24% to CHF380. The fair value is estimated to be CHF492, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 73%. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Buy Or Sell Opportunity • Jul 08
Now 22% undervalued Over the last 90 days, the stock has risen 33% to CHF402. The fair value is estimated to be CHF515, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 73%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Announcement • Jun 04
LEM Holding SA, Annual General Meeting, Jun 25, 2026 LEM Holding SA, Annual General Meeting, Jun 25, 2026, at 15:30 W. Europe Standard Time. Buy Or Sell Opportunity • May 27
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 36% to CHF429. The fair value is estimated to be CHF352, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 79%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings are also forecast to grow by 36% per annum over the same time period. New Risk • May 26
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 British stocks, typically moving 9.4% 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 High level of debt (87% net debt to equity). Share price has been volatile over the past 3 months (9.4% average weekly change). Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to CHF411, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 20x in the Electronic industry in the United Kingdom. Total loss to shareholders of 78% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF380 per share. Buy Or Sell Opportunity • Apr 24
Now 22% undervalued Over the last 90 days, the stock has risen 4.0% to CHF312. The fair value is estimated to be CHF398, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 79%. Revenue is forecast to grow by 2.5% in 2 years. Earnings are forecast to grow by 177% in the next 2 years. Announcement • Feb 07
LEM Holding SA Raises Earnings Guidance for the Year 2026 LEM Holding SA raised earnings guidance for the year 2026. For the year, the company raises its expectations for sales in the range of CHF 275 million to CHF 290 million (lifted from CHF 265 million to CHF 290 million in HY 2025/26) and targets high single-digit EBIT margin for the full year 2025/26, capitalizing on enhanced operational structure and efficiency gains. Product launches are anticipated to accelerate growth momentum overtime. Reported Earnings • Feb 07
Second quarter 2026 earnings released: EPS: CHF4.22 (vs CHF3.34 in 2Q 2025) Second quarter 2026 results: EPS: CHF4.22 (up from CHF3.34 in 2Q 2025). Revenue: CHF72.5m (down 4.0% from 2Q 2025). Net income: CHF4.80m (up 26% from 2Q 2025). Profit margin: 6.6% (up from 5.0% in 2Q 2025). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Electronic 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 45% per year, which means it has not declined as severely as earnings. New Risk • Feb 06
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 British 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 High level of debt (62% net debt to equity). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CHF327, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 19x in the Electronic industry in the United Kingdom. Total loss to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF603 per share. Reported Earnings • Nov 11
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: CHF72.5m (down 4.0% from 2Q 2025). Net income: CHF4.80m (up 26% from 2Q 2025). Profit margin: 6.6% (up from 5.0% in 2Q 2025). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Electronic industry in the United Kingdom. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CHF386, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Electronic industry in the United Kingdom. Total loss to shareholders of 79% over the past three years. New Risk • Aug 05
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 British stocks, typically moving 7.5% 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 High level of debt (99% net debt to equity). Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.9% net profit margin). Reported Earnings • Jul 31
First quarter 2026 earnings released First quarter 2026 results: EPS: CHF1.75. Revenue: CHF75.7m (down 6.5% from 1Q 2025). Net income: CHF1.99m (down 58% from 1Q 2025). Profit margin: 2.6% (down from 5.9% in 1Q 2025). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electronic industry in the United Kingdom. Announcement • Jun 05
LEM Holding SA, Annual General Meeting, Jun 26, 2025 LEM Holding SA, Annual General Meeting, Jun 26, 2025, at 15:30 W. Europe Standard Time. Location: geneve Switzerland Reported Earnings • May 28
Full year 2025 earnings released Full year 2025 results: Revenue: CHF306.9m (down 24% from FY 2024). Net income: CHF8.39m (down 87% from FY 2024). Profit margin: 2.7% (down from 16% in FY 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 30% per year whereas the company’s share price has fallen by 26% per year. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CHF602, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Electronic industry in the United Kingdom. Total loss to shareholders of 71% over the past three years. Announcement • Feb 09
LEM Holding SA Announces Appointment of Sylvain Lieb as Senior Vice President People and Sustainability and Announces Executive Committee Changes LEM Holding SA announced that Antoine Chulia will be joining the LEM Executive Committee as Chief Financial Officer effective 1 May 2025. Antoine spent the past two years as CFO of Britax. Before that, Antoine held several senior finance positions in the energy, automation and electronics industries, at Schneider Electric, Toshiba and the global healthcare company Medline Industries. The Executive Committee will thus comprise Frank Rehfeld, CEO, Antoine Chulia, CFO, John Mcluskie, SVP Asia, Verena Vescoli, Chief Technology Officer and Uwe Gerber, SVP Operations. Rodolphe Boschet, previously Chief People and Sustainability Officer, is leaving the Executive Committee to take the lead in implementing the "Fit for Growth program". Sylvain Lieb is appointed Senior Vice President People and Sustainability, reporting to Frank Rehfeld, effective 5 May 2025. Sylvain Lieb joins LEM from Bobst, where he has held the roles of Chief Human Resources Officer and Head of Corporate Sustainability. Reported Earnings • Feb 09
Third quarter 2025 earnings released Third quarter 2025 results: EPS: CHF3.08. Revenue: CHF74.3m (down 20% from 3Q 2024). Net income: CHF3.51m (down 71% from 3Q 2024). Profit margin: 4.7% (down from 13% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Electronic industry in the United Kingdom. Announcement • Feb 09
LEM Holding SA Announces CFO Changes LEM Holding SA announced that Antoine Chulia will be joining the LEM Executive Committee as Chief Financial Officer effective 1 May 2025. Antoine spent the past two years as CFO of Britax. Before that, Antoine held several senior finance positions in the energy, automation and electronics industries, at Schneider Electric, Toshiba and the global healthcare company Medline Industries. The company thanked Thomas Mellano for successfully leading the Finance organization in the interim. The Executive Committee will thus comprise Frank Rehfeld, CEO, Antoine Chulia, CFO, John Mcluskie,
SVP Asia, Verena Vescoli, Chief Technology Officer and Uwe Gerber, SVP Operations. Reported Earnings • Nov 12
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: CHF75.6m (down 32% from 2Q 2024). Net income: CHF3.80m (down 83% from 2Q 2024). Profit margin: 5.0% (down from 21% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to CHF879, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Electronic industry in the United Kingdom. Total loss to shareholders of 61% over the past three years. Buy Or Sell Opportunity • Oct 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.1% to CHF1,329. The fair value is estimated to be CHF1,687, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has declined by 5.3%. For the next 3 years, revenue is forecast to grow by 8.7% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. New Risk • Aug 03
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 British stocks, typically moving 6.8% 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 High level of debt (41% net debt to equity). Dividend is not well covered by cash flows (126% cash payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (13% net profit margin). Reported Earnings • Jul 28
First quarter 2025 earnings released First quarter 2025 results: EPS: CHF4.19. Revenue: CHF81.0m (down 28% from 1Q 2024). Net income: CHF4.78m (down 77% from 1Q 2024). Profit margin: 5.9% (down from 18% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Electronic industry in the United Kingdom. Buy Or Sell Opportunity • Jul 26
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 25% to CHF1,190. The fair value is estimated to be CHF1,641, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 6.6%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings are also forecast to grow by 9.4% per annum over the same time period. Declared Dividend • May 30
Dividend of CHF50.00 announced Shareholders will receive a dividend of CHF50.00. Ex-date: 2nd July 2024 Payment date: 4th July 2024 Dividend yield will be 3.1%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but not covered by cash flows (131% cash payout ratio). The dividend has increased by an average of 5.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 29
Full year 2024 earnings released: EPS: CHF57.35 (vs CHF66.12 in FY 2023) Full year 2024 results: EPS: CHF57.35 (down from CHF66.12 in FY 2023). Revenue: CHF405.8m (flat on FY 2023). Net income: CHF65.3m (down 13% from FY 2023). Profit margin: 16% (down from 19% in FY 2023). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 02
Third quarter 2024 earnings released Third quarter 2024 results: EPS: CHF10.57. Revenue: CHF93.3m (down 9.9% from 3Q 2023). Net income: CHF12.0m (down 40% from 3Q 2023). Profit margin: 13% (down from 19% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Electronic industry in the United Kingdom. Announcement • Feb 02
LEM Holding SA to Report Q1, 2025 Results on Jul 26, 2024 LEM Holding SA announced that they will report Q1, 2025 results on Jul 26, 2024 New Risk • Nov 12
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 42% 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: Minor Risks High level of debt (42% net debt to equity). Dividend is not well covered by cash flows (108% cash payout ratio). Reported Earnings • Nov 12
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: CHF111.0m (up 3.4% from 2Q 2023). Net income: CHF22.9m (up 11% from 2Q 2023). Profit margin: 21% (up from 19% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Electronic industry in the United Kingdom. Reported Earnings • Jul 29
First quarter 2024 earnings released First quarter 2024 results: EPS: CHF18.03. Revenue: CHF112.3m (up 24% from 1Q 2023). Net income: CHF20.5m (up 40% from 1Q 2023). Profit margin: 18% (up from 16% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Upcoming Dividend • Jun 27
Upcoming dividend of CHF52.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 06 July 2023. Payout ratio and cash payout ratio are on the higher end at 79% and 94% respectively. Trailing yield: 2.4%. Lower than top quartile of British dividend payers (6.0%). Higher than average of industry peers (1.5%). Reported Earnings • May 26
Full year 2023 earnings released Full year 2023 results: Revenue: CHF406.4m (up 8.8% from FY 2022). Net income: CHF75.3m (up 4.1% from FY 2022). Profit margin: 19% (in line with FY 2022). Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Electronic industry in the United Kingdom. Reported Earnings • Feb 07
Third quarter 2023 earnings released Third quarter 2023 results: EPS: CHF17.64. Revenue: CHF103.5m (up 13% from 3Q 2022). Net income: CHF20.1m (up 8.6% from 3Q 2022). Profit margin: 19% (in line with 3Q 2022). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 12% per year. Announcement • Jan 18
LEM Helps North American E-Mobility Market Expand with UL-Certified Dc Meter for Rapid EV Chargers LEM announced a major step forward in supporting the deployment of fast electric vehicle (EV) chargers in North America, the bi-directional DCBM will enable makers of electric vehicle charging stations (EVCSs) to accelerate their certification for DC metering requirements following Certified Test and Evaluation Professional/National Type Evaluation Program (CTEP/NTEP) certification. The DCBM will simplify the process of the manufacturers having to qualify their own charging stations for UL listed certification and, for extra peace of mind, will undergo a fresh audit every quarter. Capable of monitoring current, voltage, temperature and energy, the new meter has been designed with data security, e-mobility, digitization and flexibility in mind and is a UL-recognized component for the United States and Canada. The DCBM 400/600 complies with the standards UL 61010 and UL 810 with its certification in the FTRZ category for EV applications. To achieve this certification, the meter had to pass reinforced insulation tests, temperature testing of all its components and sub-assemblies, testing for protection against electric shock, durability of markings tests, equipment temperature limit tests and resistance to heat/fire risk tests. In California, where there is a long-term transportation strategy of reducing CO2 and greenhouse gas emissions, it has been recognized that a widespread and reliable fuelling infrastructure is essential to meet the goal of increasing the usage of low-emission hybrid electric and zero-emission battery electric vehicles. To achieve this, EV users need a 'gas-station'-like experience so vehicle charging times need to be reduced to just a few minutes. Direct current fast charging (DCFC) makes this possible by converting AC into DC outside an EV, bypassing its on-board charger (OBC) and delivering up to 350kW of power directly to the vehicle's battery pack. However, while this method boosts charging power, the conversion stage generates power losses - costs that are not covered by the EV owner. That's why knowing exactly how much energy has been delivered to a vehicle after AC has been converted to DC is crucial for accurate and transparent billing. Ideal for DCFC stations from 25kW to 400kW, the DCBM 400/600 enables costs to be managed precisely and integrates the signed billing data sets according to the Open Charge Metering Format (OCMF) protocol. The new meter doesn't just deliver authentic billing but also secure communications and easy connectivity to Cloud services. Based on a straightforward plug & play approach for rapid and easy integration, even when retrofitting to existing charging stations, the DCBM 400/600 has a moveable measuring element for use with any type of charging station architecture. Other features of the meter include an Ethernet communication capability, supporting the HTTP/REST protocol and Network Time Protocol (NTP) time synchronization, which again simplifies integration into many different types of EVCSs. Also, bi-directional energy metering makes it compatible with V2G (vehicle-to-grid) and V2X (vehicle-to-everything) standards. Finally, the robustly designed DCBM 400/600 is accurate in temperatures of -40°F to +185°F and has an IP20-rated casing. 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. 3 experienced directors. 3 highly experienced directors. No independent directors (6 non-independent directors). Director François Gabella was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 10
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: CHF107.3m (up 19% from 2Q 2022). Net income: CHF20.5m (up 15% from 2Q 2022). Profit margin: 19% (in line with 2Q 2022). Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Electronic industry in the United Kingdom. Buying Opportunity • Sep 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be CHF1,898, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 8.7% per annum. Earnings is also forecast to grow by 8.8% per annum over the same time period. Reported Earnings • Jul 30
First quarter 2023 earnings released First quarter 2023 results: EPS: CHF12.88. Revenue: CHF90.7m (down 2.7% from 1Q 2022). Net income: CHF14.7m (down 15% from 1Q 2022). Profit margin: 16% (down from 19% in 1Q 2022). Over the next year, revenue is forecast to grow 2.7%, compared to a 9.5% growth forecast for the industry in the United Kingdom. Upcoming Dividend • Jun 28
Upcoming dividend of CHF50.00 per share Eligible shareholders must have bought the stock before 05 July 2022. Payment date: 07 July 2022. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (5.2%). Higher than average of industry peers (1.6%). 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. 3 experienced directors. 3 highly experienced directors. No independent directors (6 non-independent directors). Director François Gabella was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 06
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: CHF16.24. Revenue: CHF91.8m (up 24% from 3Q 2021). Net income: CHF18.5m (up 46% from 3Q 2021). Profit margin: 20% (up from 17% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 7.0%, compared to a 6.2% 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 but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improved over the past week After last week's 15% share price gain to CHF2,305, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 25x in the Electronic industry in the United Kingdom. Total returns to shareholders of 123% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF1,591 per share. Reported Earnings • Nov 09
Second quarter 2022 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: CHF90.4m (up 30% from 2Q 2021). Net income: CHF17.9m (up 46% from 2Q 2021). Profit margin: 20% (up from 18% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 29
First quarter 2022 earnings released: EPS CHF15.17 The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: CHF93.3m (up 26% from 1Q 2021). Net income: CHF17.3m (up 55% from 1Q 2021). Profit margin: 19% (up from 15% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 24
Upcoming dividend of CHF42.00 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 06 July 2021. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (4.0%). Higher than average of industry peers (1.0%). Reported Earnings • May 21
Full year 2021 earnings released: EPS CHF48.79 (vs CHF53.27 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: CHF301.0m (down 2.3% from FY 2020). Net income: CHF55.6m (down 8.4% from FY 2020). Profit margin: 19% (down from 20% in FY 2020). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year. Announcement • May 19
LEM Holding SA Proposes Dividend for the Year 2021, Payable on 06 July 2021 LEM Holding SA proposes a dividend of CHF 42 per share (CHF 40 for 2019/20), payable on 06 July 2021. The proposal follows LEM's dividend policy of distributing significantly more than 50% of its consolidated net profit to shareholders and corresponds to a payout ratio of 86.1%, up from
75.1% last year. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS CHF11.06 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CHF74.1m (down 3.4% from 3Q 2020). Net income: CHF12.6m (down 53% from 3Q 2020). Profit margin: 17% (down from 35% in 3Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue beats expectations Revenue exceeded analyst estimates by 7.6%. Over the next year, revenue is forecast to grow 7.8%, compared to a 2.4% growth forecast for the Electronic industry in the United Kingdom. Is New 90 Day High Low • Jan 21
New 90-day high: CHF1,920 The company is up 11% from its price of CHF1,730 on 23 October 2020. The British market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Electronic 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 CHF982 per share. Is New 90 Day High Low • Jan 06
New 90-day high: CHF1,786 The company is up 1.0% from its price of CHF1,766 on 08 October 2020. The British market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF970 per share. Analyst Estimate Surprise Post Earnings • Nov 05
Revenue misses expectations Revenue missed analyst estimates by 9.5%. Over the next year, revenue is forecast to grow 2.7% while the growth in Electronic industry in the United Kingdom is expected to stay flat. Is New 90 Day High Low • Oct 06
New 90-day high: CHF1,806 The company is up 30% from its price of CHF1,386 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 Electronic industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF1,679 per share. Announcement • Jul 24
LEM Holding SA Ordinary Shares to Be Deleted from Other OTC LEM Holding SA Ordinary Shares Nom (Switzerland) will be deleted from other OTC effective from June 25, 2020 due to Inactive Security. 
