New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 5.0% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 5.0% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (114% payout ratio). Market cap is less than US$100m (€19.5m market cap, or US$22.9m). Reported Earnings • May 06
Full year 2025 earnings released: EPS: €0.92 (vs €0.35 in FY 2024) Full year 2025 results: EPS: €0.92 (up from €0.35 in FY 2024). Revenue: €15.7m (up 10% from FY 2024). Net income: €3.05m (up 163% from FY 2024). Profit margin: 20% (up from 8.2% in FY 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • May 01
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported December 2024 fiscal period end). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.2% net profit margin). Market cap is less than US$100m (€17.7m market cap, or US$20.8m). Announcement • Apr 29
Elve S.A. to Report Fiscal Year 2026 Results on Apr 30, 2026 Elve S.A. announced that they will report fiscal year 2026 results After-Market on Apr 30, 2026 New Risk • Nov 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.3% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.2% net profit margin). Market cap is less than US$100m (€17.4m market cap, or US$20.2m). Upcoming Dividend • Oct 16
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 23 October 2025. Payment date: 30 October 2025. Trailing yield: 6.8%. Within top quartile of Greek dividend payers (5.2%). Higher than average of industry peers (1.9%). Declared Dividend • Sep 08
Dividend of €0.40 announced Dividend of €0.40 is the same as last year. Ex-date: 23rd October 2025 Payment date: 30th October 2025 Dividend yield will be 7.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is not covered by earnings (149% earnings payout ratio) nor is it covered by cash flows (441% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 65% to bring the payout ratio under control, which is more than the 5.5% EPS growth achieved over the last 5 years. New Risk • Jul 24
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 Greek stocks, typically moving 4.9% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 149% Cash payout ratio: 441% Earnings have declined by 7.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (4.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.2% net profit margin). Market cap is less than US$100m (€18.0m market cap, or US$21.2m). New Risk • May 13
New major risk - Revenue and earnings growth Earnings have declined by 7.3% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Share price has been highly volatile over the past 3 months (7.1% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 149% Cash payout ratio: 441% Earnings have declined by 7.3% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.2% net profit margin). Market cap is less than US$100m (€16.3m market cap, or US$18.1m). Announcement • Apr 26
Elve S.A., Annual General Meeting, Sep 04, 2025 Elve S.A., Annual General Meeting, Sep 04, 2025. New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). Earnings have declined by 0.3% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.2% net profit margin). Market cap is less than US$100m (€16.4m market cap, or US$18.7m). New Risk • Feb 13
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 Greek stocks, typically moving 4.4% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 213% Dividend per share is over 13x cash flows per share. Earnings have declined by 0.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (4.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.2% net profit margin). Market cap is less than US$100m (€16.7m market cap, or US$17.4m). New Risk • Nov 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 Greek stocks, typically moving 4.5% 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: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 213% Dividend per share is over 13x cash flows per share. Earnings have declined by 0.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (4.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.2% net profit margin). Market cap is less than US$100m (€16.1m market cap, or US$17.2m). Upcoming Dividend • Oct 16
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 23 October 2024. Payment date: 30 October 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.3%. Within top quartile of Greek dividend payers (5.3%). Higher than average of industry peers (1.9%). Reported Earnings • Oct 04
First half 2024 earnings released: EPS: €0.008 (vs €0.36 in 1H 2023) First half 2024 results: EPS: €0.008 (down from €0.36 in 1H 2023). Revenue: €6.34m (down 13% from 1H 2023). Net income: €25.9k (down 98% from 1H 2023). Profit margin: 0.4% (down from 16% in 1H 2023). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. New Risk • Oct 01
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Dividend per share is over 13x cash flows per share. Dividend yield: 7.4% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 13x cash flows per share. Earnings have declined by 30% per year over the past 5 years. Minor Risks Revenue is less than US$5m (€3.3m revenue, or US$3.7m). Market cap is less than US$100m (€17.9m market cap, or US$19.8m). Board Change • Sep 06
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Ioannis Egglezos was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 04
Full year 2023 earnings released: EPS: €0.54 (vs €0.25 in FY 2022) Full year 2023 results: EPS: €0.54 (up from €0.25 in FY 2022). Revenue: €12.9m (down 13% from FY 2022). Net income: €1.77m (up 111% from FY 2022). Profit margin: 14% (up from 5.7% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Apr 17
Elve S.A. to Report Fiscal Year 2023 Results on Apr 30, 2024 Elve S.A. announced that they will report fiscal year 2023 results on Apr 30, 2024 New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (€17.0m market cap, or US$18.1m). New Risk • Mar 27
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 Greek stocks, typically moving 5.2% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.2% average weekly change). Market cap is less than US$100m (€16.7m market cap, or US$18.1m). New Risk • Oct 13
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 Greek stocks, typically moving 6.4% 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 Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (€16.9m market cap, or US$17.7m). Upcoming Dividend • Oct 06
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 13 October 2023. Payment date: 20 October 2023. The company last paid an ordinary dividend in March 2013. The average dividend yield among industry peers is 1.7%. Announcement • Jul 01
Elve S.A., Annual General Meeting, Jul 14, 2023 Elve S.A., Annual General Meeting, Jul 14, 2023, at 09:00 E. Europe Standard Time. Location: AGIOS ANDREAS Kavala Greece Upcoming Dividend • Nov 23
Upcoming dividend of €0.30 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 07 December 2022. The company last paid an ordinary dividend in March 2012. The average dividend yield among industry peers is 1.6%. Reported Earnings • Oct 05
First half 2022 earnings released: EPS: €0.13 (vs €0.48 in 1H 2021) First half 2022 results: EPS: €0.13 (down from €0.48 in 1H 2021). Revenue: €13.5m (down 2.8% from 1H 2021). Net income: €436.3k (down 72% from 1H 2021). Profit margin: 3.2% (down from 11% in 1H 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
Elve S.A., Annual General Meeting, Aug 08, 2022 Elve S.A., Annual General Meeting, Aug 08, 2022, at 09:00 E. Europe Standard Time. Location: OFFICES OF ELVE SA, AGIOS ANDREAS, KAVALA Kavala Greece Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Angelos Tsatsoulis was the last director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €6.05, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 15x in the Luxury industry in Greece. Total returns to shareholders of 123% over the past three years. Upcoming Dividend • Nov 23
Inaugural dividend of €0.30 per share Eligible shareholders must have bought the stock before 30 November 2021. Payment date: 07 December 2021. The company last paid an ordinary dividend in March 2015. The average dividend yield among industry peers is 0.9%. Reported Earnings • Oct 01
First half 2021 earnings released: EPS €0.48 (vs €0.35 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: €13.9m (down 9.8% from 1H 2020). Net income: €1.58m (up 37% from 1H 2020). Profit margin: 11% (up from 7.4% in 1H 2020). The increase in margin was driven by lower expenses. 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 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 04
Full year 2020 earnings released: EPS €0.61 (vs €0.27 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €34.0m (up 22% from FY 2019). Net income: €2.02m (up 127% from FY 2019). Profit margin: 5.9% (up from 3.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 30
New 90-day high: €6.80 The company is up 51% from its price of €4.50 on 01 October 2020. The Greek market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 24% over the same period. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 18% share price gain to €6.65, the stock is trading at a trailing P/E ratio of 18x, up from the previous P/E ratio of 15.3x. This compares to an average P/E of 30x in the Luxury industry in Europe. Total returns to shareholders over the past three years are 176%. Is New 90 Day High Low • Dec 04
New 90-day high: €5.65 The company is up 31% from its price of €4.30 on 04 September 2020. The Greek market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 14% over the same period. Upcoming Dividend • Nov 24
Upcoming Dividend of €0.25 Per Share Will be paid on the 7th of December to those who are registered shareholders by the 30th of November. The company last paid an ordinary dividend in March 2015. The average dividend yield among industry peers is 1.0%. Is New 90 Day High Low • Nov 18
New 90-day high: €5.00 The company is up 21% from its price of €4.12 on 20 August 2020. The Greek market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 5.0% over the same period. Is New 90 Day High Low • Oct 01
New 90-day high: €4.50 The company is up 8.0% from its price of €4.18 on 03 July 2020. The Greek market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is down 3.0% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total profits of €1.22m, up 51% from the prior year. Total revenue was €30.1m over the last 12 months, up 16% from the prior year.