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 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. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€32.9m market cap, or US$38.7m). New Risk • Jan 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 Italian stocks, typically moving 5.3% 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 Interest payments are not well covered by earnings (0.8x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 11x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (€41.3m market cap, or US$49.5m). Buy Or Sell Opportunity • Nov 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €4.88. The fair value is estimated to be €6.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Meanwhile, the company became loss making. New Risk • Oct 10
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.8x 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 Risks Interest payments are not well covered by earnings (0.8x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 11x earnings per share. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (€46.0m market cap, or US$53.2m). Reported Earnings • Oct 05
First half 2025 earnings released First half 2025 results: Revenue: €80.2m (up 13% from 1H 2024). Net loss: €700.0k (down 303% from profit in 1H 2024). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Construction industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 30
Full year 2024 earnings released Full year 2024 results: Revenue: €154.5m (down 2.7% from FY 2023). Net loss: €2.70m (down 143% from profit in FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Construction industry in Italy. New Risk • Nov 11
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 69% 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 (69% net debt to equity). 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 (1.9% net profit margin). Market cap is less than US$100m (€66.3m market cap, or US$71.1m). Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €8.84, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Construction industry in Italy. Total loss to shareholders of 45% over the past three years. Major Estimate Revision • Oct 16
Consensus EPS estimates fall by 49% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €161.4m to €158.8m. EPS estimate also fell from €0.79 per share to €0.40 per share. Net income forecast to grow 52% next year vs 41% growth forecast for Construction industry in Italy. Consensus price target down from €17.10 to €15.00. Share price rose 2.6% to €7.16 over the past week. Major Estimate Revision • Oct 02
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.98 to €0.79 per share. Revenue forecast steady at €161.4m. Net income forecast to grow 156% next year vs 40% growth forecast for Construction industry in Italy. Consensus price target down from €18.10 to €17.10. Share price fell 5.9% to €7.60 over the past week. Reported Earnings • Sep 29
First half 2024 earnings released First half 2024 results: Revenue: €70.9m (down 3.7% from 1H 2023). Net income: €345.0k (down 91% from 1H 2023). Profit margin: 0.5% (down from 5.0% in 1H 2023). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in Italy. New Risk • Aug 18
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 5.3% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (68% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (€71.9m market cap, or US$79.2m). Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €9.98, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Construction industry in Italy. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €18.49 per share. New Risk • May 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (68% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (4.0% net profit margin). Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (€84.6m market cap, or US$91.4m). Price Target Changed • May 28
Price target decreased by 8.9% to €18.10 Down from €19.87, the current price target is an average from 3 analysts. New target price is 73% above last closing price of €10.45. Stock is down 36% over the past year. The company is forecast to post earnings per share of €0.98 for next year compared to €0.76 last year. Upcoming Dividend • May 06
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 13 May 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of Italian dividend payers (5.7%). Lower than average of industry peers (3.9%). New Risk • Apr 24
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (68% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (4.0% net profit margin). New Risk • Apr 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €91.2m (US$99.0m) 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 Profit margins are more than 30% lower than last year (4.0% net profit margin). Market cap is less than US$100m (€91.2m market cap, or US$99.0m). Reported Earnings • Mar 29
Full year 2023 earnings released Full year 2023 results: Revenue: €158.8m (up 18% from FY 2022). Net income: €6.28m (down 59% from FY 2022). Profit margin: 4.0% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Construction industry in Italy. Announcement • Mar 29
EdiliziAcrobatica S.p.A., Annual General Meeting, Apr 29, 2024 EdiliziAcrobatica S.p.A., Annual General Meeting, Apr 29, 2024. Agenda: To authorise the purchase and disposal of treasury shares, subject to revocation of the previous authorisation granted. Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €160.8m to €153.6m. EPS estimate also fell from €2.01 per share to €1.65 per share. Net income forecast to grow 51% next year vs 30% growth forecast for Construction industry in Italy. Consensus price target down from €23.03 to €20.63. Share price was steady at €13.00 over the past week. Price Target Changed • Oct 26
Price target decreased by 9.1% to €23.03 Down from €25.35, the current price target is an average from 2 analysts. New target price is 92% above last closing price of €12.00. Stock is down 21% over the past year. The company is forecast to post earnings per share of €2.01 for next year compared to €1.86 last year. New Risk • Oct 05
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 70% 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 (70% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.9% average weekly change). Profit margins are more than 30% lower than last year (6.2% net profit margin). Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €13.55, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Construction industry in Europe. Total returns to shareholders of 178% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €21.92 per share. Buying Opportunity • Aug 17
Now 21% undervalued Over the last 90 days, the stock is up 5.4%. The fair value is estimated to be €22.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Earnings per share has grown by 92%. For the next 3 years, revenue is forecast to grow by 8.2% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Upcoming Dividend • May 01
Upcoming dividend of €0.50 per share at 4.6% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Italian dividend payers (5.1%). Higher than average of industry peers (3.6%). Upcoming Dividend • Mar 27
Upcoming dividend of €0.80 per share at 4.6% yield Eligible shareholders must have bought the stock before 03 April 2023. Payment date: 05 April 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Italian dividend payers (5.3%). Higher than average of industry peers (4.0%). Board Change • Nov 16
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. 4 non-independent directors. Independent Director Marco Caneva was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Oct 26
Consensus EPS estimates increase by 20% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €126.4m to €127.9m. EPS estimate increased from €1.77 to €2.13 per share. Net income forecast to shrink 16% next year vs 11% growth forecast for Construction industry in Italy . Consensus price target broadly unchanged at €25.25. Share price was steady at €15.18 over the past week. Reported Earnings • Oct 04
First half 2022 earnings released: EPS: €0 (vs €0.20 in 1H 2021) First half 2022 results: EPS: €0. Revenue: €67.9m (up 85% from 1H 2021). Net income: €10.7m (up €9.06m from 1H 2021). Profit margin: 16% (up from 4.4% in 1H 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Construction industry in Italy. Upcoming Dividend • May 02
Upcoming dividend of €0.30 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Italian dividend payers (4.7%). Lower than average of industry peers (3.7%). Price Target Changed • Apr 27
Price target increased to €25.75 Up from €20.00, the current price target is an average from 2 analysts. New target price is 59% above last closing price of €16.18. Stock is up 136% over the past year. The company is forecast to post earnings per share of €1.77 for next year compared to €1.37 last year. Board Change • Apr 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. 4 non-independent directors. Independent Director Marco Caneva was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Apr 12
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €104.7m to €126.4m. EPS estimate fell from €0.80 to €0.79. Net income forecast to shrink 42% next year vs 44% growth forecast for Construction industry in Italy . Consensus price target up from €20.00 to €25.75. Share price was steady at €17.10 over the past week. Reported Earnings • Apr 06
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €87.7m (up 91% from FY 2020). Net income: €11.1m (up €9.33m from FY 2020). Profit margin: 13% (up from 3.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.9%. Over the next year, revenue is forecast to grow 19%, compared to a 22% growth forecast for the industry in Italy. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 17% share price gain to €14.60, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 17x in the Construction industry in Italy. Total returns to shareholders of 230% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.69 per share. Reported Earnings • Oct 01
First half 2021 earnings released The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €36.7m (up 98% from 1H 2020). Net income: €1.60m (up €1.58m from 1H 2020). Profit margin: 4.4% (up from 0.1% in 1H 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 16% share price gain to €14.90, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 20x in the Construction industry in Italy. Total returns to shareholders of 154% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €17.03 per share. Upcoming Dividend • Jun 28
Upcoming dividend of €0.057 per share Eligible shareholders must have bought the stock before 05 July 2021. Payment date: 07 July 2021. Trailing yield: 1.3%. Lower than top quartile of Italian dividend payers (3.6%). Lower than average of industry peers (3.3%). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improved over the past week After last week's 18% share price gain to €11.80, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 15x in the Construction industry in Italy. Total returns to shareholders of 102% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €14.12 per share. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 18% share price gain to €9.14, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 15x in the Construction industry in Italy. Total returns to shareholders of 91% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €16.34 per share. Reported Earnings • May 06
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €46.2m (up 11% from FY 2019). Net income: €1.76m (up 61% from FY 2019). Profit margin: 3.8% (up from 2.6% in FY 2019). The increase in margin was driven by higher revenue. Upcoming Dividend • Apr 26
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 03 May 2021. Payment date: 05 May 2021. Trailing yield: 2.4%. Lower than top quartile of Italian dividend payers (4.0%). Lower than average of industry peers (2.8%). Price Target Changed • Apr 09
Price target increased to €8.30 Up from €7.30, the current price target is provided by 1 analyst. New target price is 27% above last closing price of €6.54. Stock is up 53% over the past year. Is New 90 Day High Low • Mar 10
New 90-day high: €6.02 The company is up 16% from its price of €5.20 on 10 December 2020. The Italian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 26% over the same period. Is New 90 Day High Low • Feb 10
New 90-day high: €5.50 The company is up 14% from its price of €4.81 on 12 November 2020. The Italian market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 30% over the same period. Is New 90 Day High Low • Jan 14
New 90-day high: €5.42 The company is up 3.0% from its price of €5.24 on 15 October 2020. The Italian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 22
New 90-day low: €5.14 The company is down 14% from its price of €6.00 on 24 July 2020. The Italian market is down 7.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is down 25% over the same period. Major Estimate Revision • Oct 14
Analysts lower EPS estimates to €0.10 The 2020 consensus revenue estimate was lowered from €46.8m to €42.4m. Earning per share (EPS) estimate was also lowered from €0.16 to €0.10 for the same period. Net income is expected to grow by 386% next year compared to 7.6% growth forecast for the Construction industry in Italy. The consensus price target was lowered from €7.30 to €7.00. Share price is down by 3.3% to €5.28 over the past week. Is New 90 Day High Low • Sep 29
New 90-day low: €5.44 The company is down 10.0% from its price of €6.02 on 01 July 2020. The Italian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is down 23% over the same period.