New Risk • Apr 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (6.1% average weekly change). Reported Earnings • Apr 06
Full year 2025 earnings released: EPS: €0.50 (vs €0.35 in FY 2024) Full year 2025 results: EPS: €0.50 (up from €0.35 in FY 2024). Revenue: €89.4m (up 21% from FY 2024). Net income: €6.99m (up 42% from FY 2024). Profit margin: 7.8% (up from 6.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 26% per year. New Risk • Apr 04
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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. This is currently the only risk that has been identified for the company. Announcement • Mar 04
Performance Technologies S.A., Annual General Meeting, May 13, 2026 Performance Technologies S.A., Annual General Meeting, May 13, 2026. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €8.18, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 26x in the IT industry in Greece. Total returns to shareholders of 145% over the past three years. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €7.22, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 26x in the IT industry in Greece. Total returns to shareholders of 121% over the past three years. Reported Earnings • Sep 17
First half 2025 earnings released First half 2025 results: Revenue: €40.7m (up 19% from 1H 2024). Net income: €2.60m (up 67% from 1H 2024). Profit margin: 6.4% (up from 4.5% in 1H 2024). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €4.87, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 17x in the IT industry in Europe. Total loss to shareholders of 1.4% over the past three years. Announcement • Mar 01
Performance Technologies S.A. to Report Q4, 2024 Results on Mar 31, 2025 Performance Technologies S.A. announced that they will report Q4, 2024 results on Mar 31, 2025 Announcement • Feb 17
Performance Technologies S.A., Annual General Meeting, May 15, 2025 Performance Technologies S.A., Annual General Meeting, May 15, 2025. New Risk • Oct 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €90.5m (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.1% average weekly change). Market cap is less than US$100m (€90.5m market cap, or US$99.9m). New Risk • Oct 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.1% average weekly change). Announcement • Sep 10
Performance Technologies S.A. to Report First Half, 2024 Results on Sep 30, 2024 Performance Technologies S.A. announced that they will report first half, 2024 results on Sep 30, 2024 New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €85.8m (US$94.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Market cap is less than US$100m (€85.8m market cap, or US$94.0m). Buy Or Sell Opportunity • Aug 05
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to €6.18. The fair value is estimated to be €8.38, 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% over the last 3 years. Earnings per share has grown by 5.0%. Upcoming Dividend • Jun 21
Upcoming dividend of €0.053 per share Eligible shareholders must have bought the stock before 28 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Greek dividend payers (5.7%). Lower than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €6.05, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 19x in the IT industry in Europe. Total returns to shareholders of 83% over the past three years. Reported Earnings • Apr 16
Full year 2023 earnings released: EPS: €0.33 (vs €0.27 in FY 2022) Full year 2023 results: EPS: €0.33 (up from €0.27 in FY 2022). Revenue: €57.7m (up 38% from FY 2022). Net income: €4.62m (up 25% from FY 2022). Profit margin: 8.0% (down from 8.8% in FY 2022). The decrease in margin was driven by higher expenses. 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 19% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 05
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: 7.4% Last year net profit margin: 11% 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: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (7.4% net profit margin). Market cap is less than US$100m (€55.1m market cap, or US$57.9m). Upcoming Dividend • Jun 19
Upcoming dividend of €0.042 per share at 0.8% yield Eligible shareholders must have bought the stock before 26 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Greek dividend payers (4.8%). Lower than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €4.45, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 19x in the IT industry in Europe. Total returns to shareholders of 405% over the past three years. Reported Earnings • May 01
Full year 2022 earnings released: EPS: €0.27 (vs €0.29 in FY 2021) Full year 2022 results: EPS: €0.27. Revenue: €41.9m (up 10% from FY 2021). Net income: €3.70m (up 6.7% from FY 2021). Profit margin: 8.8% (down from 9.1% in FY 2021). The decrease in margin was driven by higher expenses. Board Change • Nov 16
Less than half of directors are independent 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. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Giannis Papadopoulos was the last independent director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 19
Upcoming dividend of €0.036 per share Eligible shareholders must have bought the stock before 26 September 2022. Payment date: 03 October 2022. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Greek dividend payers (5.1%). Lower than average of industry peers (2.3%). Reported Earnings • Sep 11
First half 2022 earnings released: EPS: €0 (vs €0.14 in 1H 2021) First half 2022 results: EPS: €0. Revenue: €17.5m (down 9.3% from 1H 2021). Net income: €1.99m (up 25% from 1H 2021). Profit margin: 11% (up from 8.2% in 1H 2021). The increase in margin was driven by lower expenses. Announcement • Sep 07
Performance Technologies S.A. (ATSE:PERF) acquired 60% stake in Adaptera for €1.8 million. Performance Technologies S.A. (ATSE:PERF) acquired 60% stake in Adaptera for €1.8 million on September 5, 2022.
Performance Technologies S.A. (ATSE:PERF) completed the acquisition of 60% stake in Adaptera on September 5, 2022. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €3.79, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 20x in the IT industry in Europe. Total returns to shareholders of 320% over the past three years. Board Change • Apr 27
Less than half of directors are independent 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. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Giannis Papadopoulos was the last independent director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 21
Full year 2021 earnings released: EPS: €0.29 (vs €0.23 in FY 2020) Full year 2021 results: EPS: €0.29 (up from €0.23 in FY 2020). Revenue: €38.0m (up 22% from FY 2020). Net income: €3.47m (up 30% from FY 2020). Profit margin: 9.1% (up from 8.5% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 20
Upcoming dividend of €0.09 per share Eligible shareholders must have bought the stock before 27 September 2021. Payment date: 04 October 2021. Trailing yield: 0.6%. Lower than top quartile of Greek dividend payers (3.9%). Lower than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 21% share price gain to €16.35, the stock trades at a trailing P/E ratio of 23.6x. Average trailing P/E is 29x in the IT industry in Europe. Total returns to shareholders of 676% over the past three years. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 18% share price gain to €13.50, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 28x in the IT industry in Europe. Total returns to shareholders of 541% over the past three years. Reported Earnings • May 03
Full year 2020 earnings released: EPS €0.69 (vs €0.48 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €31.3m (up 21% from FY 2019). Net income: €2.67m (up 43% from FY 2019). Profit margin: 8.5% (up from 7.2% 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 45% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Dec 30
New 90-day high: €9.00 The company is up 57% from its price of €5.75 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 IT industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 12
New 90-day high: €7.75 The company is up 63% from its price of €4.76 on 11 September 2020. The Greek market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 10.0% over the same period. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 20% share price gain to €7.35, the stock is trading at a trailing P/E ratio of 11.3x, up from the previous P/E ratio of 9.4x. This compares to an average P/E of 22x in the IT industry in Europe. Total returns to shareholders over the past three years are 238%. Is New 90 Day High Low • Nov 24
New 90-day high: €5.90 The company is up 35% from its price of €4.38 on 25 August 2020. The Greek market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Nov 24
Market bids up stock over the past week After last week's 17% share price gain to €5.90, the stock is trading at a trailing P/E ratio of 9.1x, up from the previous P/E ratio of 7.8x. This compares to an average P/E of 22x in the IT industry in Europe. Total returns to shareholders over the past three years are 171%.