Buy Or Sell Opportunity • Jun 17
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.3% to €204. The fair value is estimated to be €169, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Upcoming Dividend • Jun 08
Upcoming dividend of €13.52 per share Eligible shareholders must have bought the stock before 15 June 2026. Payment date: 07 July 2026. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 4.8%. Within top quartile of Croatian dividend payers (4.3%). Higher than average of industry peers (1.6%). Reported Earnings • May 05
First quarter 2026 earnings released First quarter 2026 results: Revenue: €61.8m (up 14% from 1Q 2025). Net income: €6.16m (up 6.1% from 1Q 2025). Profit margin: 10.0% (in line with 1Q 2025). Announcement • May 02
Ericsson Nikola Tesla d.d. announces Annual dividend, payable on July 07, 2026 Ericsson Nikola Tesla d.d. announced Annual dividend of EUR 13.5200 per share payable on July 07, 2026, ex-date on June 15, 2026 and record date on June 16, 2026. Announcement • May 01
Ericsson Nikola Tesla d.d., Annual General Meeting, Jun 10, 2026 Ericsson Nikola Tesla d.d., Annual General Meeting, Jun 10, 2026. Location: at the company`s premises, krapinska 45, zagreb Australia New Risk • Feb 21
New major risk - Revenue and earnings growth Earnings have declined by 1.8% 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 1.8% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (103% cash payout ratio). New Risk • Jan 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.8% 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 1.8% 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 30
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: €55.7m (down 21% from 3Q 2024). Net income: €3.91m (flat on 3Q 2024). Profit margin: 7.0% (up from 5.6% in 3Q 2024). The increase in margin was driven by lower expenses. Buy Or Sell Opportunity • Aug 27
Now 20% overvalued Over the last 90 days, the stock has fallen 6.0% to €179. The fair value is estimated to be €149, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Jul 25
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €56.6m (flat on 2Q 2024). Net income: €3.80m (up 174% from 2Q 2024). Profit margin: 6.7% (up from 2.4% in 2Q 2024). Upcoming Dividend • Jun 24
Upcoming dividend of €10.54 per share Eligible shareholders must have bought the stock before 01 July 2025. Payment date: 23 July 2025. Payout ratio is on the higher end at 90%, and the cash payout ratio is above 100%. Trailing yield: 5.3%. Within top quartile of Croatian dividend payers (4.8%). Higher than average of industry peers (3.3%). Declared Dividend • May 02
Dividend of €10.54 announced Shareholders will receive a dividend of €10.54. Ex-date: 1st July 2025 Payment date: 1st January 1970 Dividend yield will be 5.6%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not covered by cash flows (139% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Reported Earnings • May 02
First quarter 2025 earnings released First quarter 2025 results: Revenue: €55.7m (up 7.1% from 1Q 2024). Net income: €5.81m (down 9.1% from 1Q 2024). Profit margin: 10% (down from 12% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 9% per year. Reported Earnings • Feb 20
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: €12.00 (down from €16.78 in FY 2023). Revenue: €249.5m (down 18% from FY 2023). Net income: €15.6m (down 30% from FY 2023). Profit margin: 6.3% (down from 7.3% in FY 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) missed analyst estimates by 8.9%. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. New Risk • Feb 10
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 Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. High level of non-cash earnings (74% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Dividend is not well covered by cash flows (92% cash payout ratio). New Risk • Nov 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.2% 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 Risks Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. High level of non-cash earnings (74% accrual ratio). Minor Risk Dividend is not well covered by cash flows (92% cash payout ratio). Reported Earnings • Jul 26
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €56.9m (down 17% from 2Q 2023). Net income: €1.31m (down 70% from 2Q 2023). Profit margin: 2.3% (down from 6.4% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year and the company’s share price has also fallen by 6% per year. Buy Or Sell Opportunity • Jul 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.7% to €196. The fair value is estimated to be €247, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 6.7%. Revenue is forecast to decline by 11% in a year. Earnings are forecast to decline by 31% in the next year. Upcoming Dividend • Jun 25
Upcoming dividend of €15.00 per share Eligible shareholders must have bought the stock before 02 July 2024. Payment date: 17 July 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Croatian dividend payers (4.6%). Higher than average of industry peers (3.8%). Reported Earnings • Feb 23
Full year 2023 earnings released Full year 2023 results: Revenue: €310.9m (up 4.6% from FY 2022). Net income: €22.2m (up 40% from FY 2022). Profit margin: 7.1% (up from 5.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 4.8% p.a. on average during the next 2 years, while revenues in the Communications industry in Europe are expected to grow by 2.3%. Announcement • Jan 09
Ericsson Nikola Tesla d.d. to Report Q4, 2023 Results on Jan 23, 2024 Ericsson Nikola Tesla d.d. announced that they will report Q4, 2023 results at 7:00 AM, Central European Standard Time on Jan 23, 2024 New Risk • Dec 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.3% 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 6.3% 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 27
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €70.4m (up 7.5% from 3Q 2022). Net income: €8.29m (up 473% from 3Q 2022). Profit margin: 12% (up from 2.2% in 3Q 2022). The increase in margin was primarily driven by higher revenue. New Risk • Jul 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 73% 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 (73% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jul 27
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €68.6m (down 3.6% from 2Q 2022). Net income: €4.36m (up 277% from 2Q 2022). Profit margin: 6.4% (up from 1.6% in 2Q 2022). The increase in margin was driven by lower expenses. Upcoming Dividend • Jun 12
Upcoming dividend of €12.00 per share at 5.5% yield Eligible shareholders must have bought the stock before 19 June 2023. Payment date: 11 July 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.5%. Within top quartile of Croatian dividend payers (4.3%). Higher than average of industry peers (3.7%). Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: €6.00 (vs €5.94 in 1Q 2022) First quarter 2023 results: EPS: €6.00. Revenue: €69.4m (flat on 1Q 2022). Net income: €7.82m (flat on 1Q 2022). Profit margin: 11% (in line with 1Q 2022). Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: Kn90.00 (vs Kn133 in FY 2021) Full year 2022 results: EPS: Kn90.00 (down from Kn133 in FY 2021). Revenue: Kn2.24b (up 1.7% from FY 2021). Net income: Kn119.2m (down 33% from FY 2021). Profit margin: 5.3% (down from 8.0% in FY 2021). The decrease in margin was driven by higher expenses. 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 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 28
Third quarter 2022 earnings released Third quarter 2022 results: Net income: (down Kn13.3m from profit in 3Q 2021). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Communications industry in Europe. 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 8% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be Kn1,973, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 0.5% in 2 years. Earnings is forecast to decline by 23% in the next 2 years. Buying Opportunity • Jul 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be Kn1,988, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 0.5% in 2 years. Earnings is forecast to decline by 23% in the next 2 years. Upcoming Dividend • Jun 23
Upcoming dividend of Kn64.00 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 22 July 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Croatian dividend payers (4.7%). Higher than average of industry peers (1.8%). Reported Earnings • Apr 29
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: Kn45.00 (up from Kn30.68 in 1Q 2021). Revenue: Kn526.1m (up 18% from 1Q 2021). Net income: Kn59.7m (up 46% from 1Q 2021). Profit margin: 11% (up from 9.2% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Price Target Changed • Apr 27
Price target increased to Kn1,580 Up from Kn1,329, the current price target is provided by 1 analyst. New target price is 16% below last closing price of Kn1,870. Stock is up 13% over the past year. The company posted earnings per share of Kn133 last year. Reported Earnings • Feb 25
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: Kn133 (up from Kn71.02 in FY 2020). Revenue: Kn2.20b (up 8.9% from FY 2020). Net income: Kn177.3m (up 88% from FY 2020). Profit margin: 8.0% (up from 4.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 30
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: Kn518.8m (up 8.7% from 3Q 2020). Net income: Kn13.3m (down 59% from 3Q 2020). Profit margin: 2.6% (down from 6.7% in 3Q 2020). 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 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 30
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: Kn568.4m (up 19% from 2Q 2020). Net income: Kn60.6m (up Kn55.2m from 2Q 2020). Profit margin: 11% (up from 1.1% in 2Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Jun 24
Upcoming dividend of Kn82.00 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 28 July 2021. Trailing yield: 4.9%. Within top quartile of Croatian dividend payers (4.3%). Higher than average of industry peers (1.8%). Reported Earnings • May 03
First quarter 2021 earnings released The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: Kn445.9m (down 8.6% from 1Q 2020). Net income: Kn40.8m (up 38% from 1Q 2020). Profit margin: 9.2% (up from 6.1% in 1Q 2020). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Mar 03
New 90-day high: Kn1,540 The company is up 1.0% from its price of Kn1,520 on 03 December 2020. The Croatian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 4.0% over the same period. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 8.2%, compared to a 1.7% growth forecast for the Communications industry in Croatia. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS Kn71.02 (vs Kn76.97 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: Kn2.02b (up 14% from FY 2019). Net income: Kn94.5m (down 7.7% from FY 2019). Profit margin: 4.7% (down from 5.8% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Is New 90 Day High Low • Feb 02
New 90-day high: Kn1,530 The company is up 6.0% from its price of Kn1,440 on 04 November 2020. The Croatian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Kn1,061 per share. Price Target Changed • Dec 10
Price target raised to Kn1,474 Up from Kn1,356, the current price target is an average from 2 analysts. The new target price is close to the current share price of Kn1,510. As of last close, the stock is up 13% over the past year. Upcoming Dividend • Dec 04
Upcoming Dividend of Kn49.00 Per Share Will be paid on the 21st of December to those who are registered shareholders by the 11th of December. The trailing yield of 3.2% is below the top quartile of Croatian dividend payers (4.3%), but it is higher than industry peers (1.5%). Is New 90 Day High Low • Nov 09
New 90-day high: Kn1,460 The company is up 15% from its price of Kn1,270 on 11 August 2020. The Croatian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Kn969 per share. Is New 90 Day High Low • Oct 09
New 90-day high: Kn1,370 The company is up 12% from its price of Kn1,220 on 10 July 2020. The Croatian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Kn968 per share. Is New 90 Day High Low • Sep 24
New 90-day high: Kn1,350 The company is up 13% from its price of Kn1,200 on 26 June 2020. The Croatian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Kn989 per share.