New Risk • Jul 01
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (21% average weekly change). Market cap is less than US$10m (€665.3k market cap, or US$758.5k). Announcement • Jan 14
Ops eCom S.p.A. (BIT:OEC) agreed to acquire Aleo S.R.L. for €0.12 million. Ops eCom S.p.A. (BIT:OEC) agreed to acquire Aleo S.R.L. for €0.12 million on January 13, 2026. A cash consideration of €0.12 million will be paid by Ops eCom S.p.A. As part of consideration, €0.12 million is paid towards common equity of Aleo S.R.L. Announcement • Jan 13
Fortezza Capital Holding S.R.L. acquired an additional 50.80% stake in Ops eCom S.p.A. (BIT:OEC) from Meridiana Holding S.R.L. Fortezza Capital Holding S.R.L. acquired an additional 50.80% stake in Ops eCom S.p.A. (BIT:OEC) from Meridiana Holding S.R.L. on January 11, 2026. Fortezza Capital Holding acquired 16.9 million shares, resulting in a 69.9% stake in the voting share capital, making it the majority shareholder. The acquisition marks a significant change in governance, industrial strategy, and shareholder value creation policies for OPS eCom.
Fortezza Capital Holding S.R.L. completed the acquisition of an additional 50.80% stake in Ops eCom S.p.A. (BIT:OEC) from Meridiana Holding S.R.L. on January 11, 2026. Announcement • Dec 09
Ops eCom S.p.A. (BIT:OEC) signed a preliminary agreement to acquire KCT Srl. Ops eCom S.p.A. (BIT:OEC) signed a preliminary agreement to acquire KCT Srl on December 8, 2025. New Risk • Oct 02
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 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 June 2024 fiscal period end). Revenue has declined by 0.6% over the past year. Market cap is less than US$10m (€7.95m market cap, or US$9.35m). New Risk • Jun 30
New major risk - Revenue and earnings growth Revenue has declined by 0.6% 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 Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue has declined by 0.6% over the past year. Market cap is less than US$10m (€8.52m market cap, or US$9.99m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). New Risk • Jun 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.78m (US$9.99m) 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (€8.78m market cap, or US$9.99m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). 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 Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (€7.68m market cap, or US$8.76m). 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 07
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 6.3% 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 Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (€7.15m market cap, or US$7.82m). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). New Risk • Apr 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.18m (US$8.97m) 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 Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (€8.18m market cap, or US$8.97m). Reported Earnings • Oct 02
First half 2024 earnings released: €0.035 loss per share (vs €0.018 profit in 1H 2023) First half 2024 results: €0.035 loss per share (down from €0.018 profit in 1H 2023). Revenue: €9.68m (down 37% from 1H 2023). Net loss: €1.16m (loss widened €1.13m from 1H 2023). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Sep 10
Now 20% undervalued Over the last 90 days, the stock has risen 45% to €0.55. The fair value is estimated to be €0.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Aug 12
Now 23% undervalued Over the last 90 days, the stock has risen 25% to €0.52. The fair value is estimated to be €0.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jul 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 103% to €0.77. The fair value is estimated to be €0.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jun 12
Full year 2023 earnings released Full year 2023 results: Revenue: €21.3m (down 43% from FY 2022). Net loss: €3.95m (loss widened 90% from FY 2022). New Risk • May 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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 Negative equity (-€3.6m). Market cap is less than US$10m (€8.66m market cap, or US$9.38m). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (6.0% average weekly change). New Risk • Feb 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.23m (US$9.95m) 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 Negative equity (-€3.6m). Market cap is less than US$10m (€9.23m market cap, or US$9.95m). Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: €0.005 (vs €0.028 loss in 3Q 2022) Third quarter 2023 results: EPS: €0.005 (up from €0.028 loss in 3Q 2022). Revenue: €7.22m (down 12% from 3Q 2022). Net income: €132.0k (up €727.0k from 3Q 2022). Profit margin: 1.8% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Announcement • Nov 03
FuTureScape Sagl acquired IBOX SA from Giglio Group S.p.A. (BIT:GG) for €5.9 million. FuTureScape Sagl acquired IBOX SA from Giglio Group S.p.A. (BIT:GG) for €5.9 million on October 31, 2023. The transaction involves the sale of shares for a total value of €5,887,000. FuTureScape Sagl completed the acquisition of IBOX SA from Giglio Group S.p.A. (BIT:GG) on October 31, 2023. New Risk • Nov 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Negative equity (-€3.7m). Earnings have declined by 1.9% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€11.6m market cap, or US$12.4m). New Risk • Oct 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.45m (US$9.95m) 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 Negative equity (-€3.7m). Earnings have declined by 1.9% per year over the past 5 years. Market cap is less than US$10m (€9.45m market cap, or US$9.95m). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Reported Earnings • Sep 14
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €7.95m (flat on 2Q 2022). Net income: €948.0k (up €1.67m from 2Q 2022). Profit margin: 12% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Lead Independent Director Francesco Gesualdi is the most experienced director on the board, commencing their role in 2020. Independent Director Sara Armella was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 17
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €7.94m (down 15% from 2Q 2021). Net loss: €720.0k (loss narrowed 51% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to €2.00 Down from €3.70, the current price target is provided by 1 analyst. New target price is 52% above last closing price of €1.32. Stock is down 42% over the past year. The company is forecast to post a net loss per share of €0.09 next year compared to a net loss per share of €0.21 last year. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. 2 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Lead Independent Director Francesco Gesualdi is the most experienced director on the board, commencing their role in 2020. Independent Director Sara Armella was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 02
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €38.8m (down 7.7% from FY 2020). Net loss: €4.62m (loss widened 75% from FY 2020). Revenue missed analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 30%, compared to a 39% growth forecast for the retail industry in Italy. Buying Opportunity • Mar 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be €1.66, 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 declined by 16% per annum over the last 3 years. Price Target Changed • Nov 22
Price target decreased to €2.85 Down from €3.70, the current price target is provided by 1 analyst. New target price is 66% above last closing price of €1.72. Stock is down 24% over the past year. The company posted a net loss per share of €0.13 last year. Reported Earnings • Nov 18
Third quarter 2021 earnings released: €0.054 loss per share (vs €0.003 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: €8.82m (up 11% from 3Q 2020). Net loss: €892.0k (down €931.0k from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 14% 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. Reported Earnings • Sep 12
Second quarter 2021 earnings released The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: €9.51m (down 21% from 2Q 2020). Net loss: €1.47m (down €1.63m from profit in 2Q 2020). Breakeven Date Change • Jun 29
Forecast breakeven pushed back to 2022 The analyst covering Giglio Group previously expected the company to break even in 2021. New forecast suggests losses will reduce by 92% to 2021. The company is expected to make a profit of €800.0k in 2022. Average annual earnings growth of 111% is required to achieve expected profit on schedule. Price Target Changed • May 26
Price target decreased to €3.70 Down from €4.00, the current price target is provided by 1 analyst. New target price is 68% above last closing price of €2.20. Stock is down 27% over the past year. Breakeven Date Change • May 20
Forecast breakeven pushed back to 2022 The analyst covering Giglio Group previously expected the company to break even in 2021. New forecast suggests losses will reduce by 92% to 2021. The company is expected to make a profit of €800.0k in 2022. Average annual earnings growth of 111% is required to achieve expected profit on schedule. Reported Earnings • May 15
Full year 2020 earnings released The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: €42.3m (up 9.1% from FY 2019). Net loss: €2.65m (loss narrowed 45% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • May 15
Forecast breakeven pushed back to 2021 The analyst covering Giglio Group previously expected the company to break even in 2020. New forecast suggests the company will make a profit of €1.70m in 2021. Earnings growth of 114% is required to achieve expected profit on schedule. Price Target Changed • Mar 12
Price target lowered to €4.05 Down from €4.75, the current price target is an average from 2 analysts. The new target price is 75% above the current share price of €2.32. As of last close, the stock is up 45% over the past year. Is New 90 Day High Low • Nov 30
New 90-day high: €2.59 The company is up 6.0% from its price of €2.44 on 01 September 2020. The Italian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.44 per share. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS €0.003 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €7.93m (down 13% from 3Q 2019). Net income: €39.0k (up €111.0k from 3Q 2019). Profit margin: 0.5% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 15
New 90-day low: €1.97 The company is down 26% from its price of €2.68 on 17 July 2020. The Italian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.69 per share.