New Risk • Jul 01
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€29m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-€29m). Earnings have declined by 14% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€10.5m market cap, or US$11.9m). New Risk • May 31
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 Risks Latest financial reports are more than 1 year old (reported December 2024 fiscal period end). Revenue has declined by 8.5% over the past year. Minor Risk Market cap is less than US$100m (€10.5m market cap, or US$12.2m). Board Change • May 20
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. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Member of Board of Statutory Auditors Tiziano Cenedese was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Jan 01
New major risk - Revenue and earnings growth Revenue has declined by 8.5% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Revenue has declined by 8.5% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (€10.4m market cap, or US$12.3m). New Risk • Dec 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: Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (€10.4m market cap, or US$12.3m). Board Change • Oct 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Member of Board of Statutory Auditors Tiziano Cenedese was the last director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €1.07, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 17x in the Machinery industry in Italy. Total loss to shareholders of 58% over the past three years. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to €1.26, the stock trades at a trailing P/E ratio of 12.6x. Average forward P/E is 14x in the Machinery industry in Italy. Total loss to shareholders of 52% over the past three years. New Risk • Apr 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.05m (US$9.91m) This is considered a major 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 Risks Interest payments are not well covered by earnings (1.3x net interest cover). Market cap is less than US$10m (€9.05m market cap, or US$9.91m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (6.6% average weekly change). New Risk • Apr 08
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 Italian 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: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (€9.33m market cap, or US$10.2m). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €1.07, the stock trades at a trailing P/E ratio of 10.7x. Average forward P/E is 12x in the Machinery industry in Italy. Total loss to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.85, the stock trades at a trailing P/E ratio of 18.5x. Average forward P/E is 11x in the Machinery industry in Italy. Total loss to shareholders of 32% over the past three years. New Risk • Sep 24
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risk Market cap is less than US$100m (€17.2m market cap, or US$19.2m). Reported Earnings • May 19
Full year 2023 earnings released Full year 2023 results: Revenue: €63.9m (up 15% from FY 2022). Net loss: €5.7k (down 101% from profit in FY 2022). Profit margin: 0% (down from 0.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Machinery industry in Italy. New Risk • Apr 08
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: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€23.2m market cap, or US$25.2m). Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €2.58, the stock trades at a trailing P/E ratio of 30.5x. Average forward P/E is 9x in the Machinery industry in Italy. Total returns to shareholders of 65% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €2.26, the stock trades at a trailing P/E ratio of 26.7x. Average forward P/E is 9x in the Machinery industry in Italy. Total returns to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €2.66, the stock trades at a trailing P/E ratio of 31.4x. Average forward P/E is 10x in the Machinery industry in Italy. Total returns to shareholders of 233% over the past three years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €2.13, the stock trades at a trailing P/E ratio of 25.2x. Average forward P/E is 9x in the Machinery industry in Italy. Total returns to shareholders of 184% over the past three years. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to €2.30, the stock trades at a trailing P/E ratio of 27.2x. Average forward P/E is 9x in the Machinery industry in Italy. Total returns to shareholders of 188% over the past three years. 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. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . 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 • Sep 29
First half 2022 earnings released First half 2022 results: Revenue: €28.9m (up 13% from 1H 2021). Net loss: €572.2k (down €646.2k from profit in 1H 2021). 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. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . 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 • Oct 03
First half 2021 earnings released: EPS €0.009 (vs €0.71 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €25.5m (up 27% from 1H 2020). Net income: €74.1k (up €6.10m from 1H 2020). Profit margin: 0.3% (up from net loss in 1H 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 20
Full year 2020 earnings released: €1.22 loss per share The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €37.5m (down 30% from FY 2019). Net loss: €10.3m (down €10.3m from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 28
New 90-day high: €0.96 The company is up 76% from its price of €0.55 on 30 October 2020. The Italian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 14% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: €0.87 The company is up 30% from its price of €0.67 on 19 August 2020. The Italian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: €0.55 The company is down 19% from its price of €0.68 on 31 July 2020. The Italian market is down 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 3.0% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total losses of €6.21m, with earnings decreasing by €6.44m from the prior year. Total revenue was €43.7m over the last 12 months, down 13% from the prior year. Reported Earnings • Sep 29
First half earnings released Over the last 12 months the company has reported total losses of €6.21m, with losses widening by €5.81m from the prior year. Total revenue was €43.6m over the last 12 months, down 13% from the prior year. Reported Earnings • Sep 27
First half earnings released Over the last 12 months the company has reported total losses of €6.21m, with losses widening by €5.81m from the prior year. Total revenue was €43.0m over the last 12 months, down 14% from the prior year.