Reported Earnings • Aug 04
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €120.9m (up 19% from 2Q 2021). Net income: €3.95m (up 309% from 2Q 2021). Profit margin: 3.3% (up from 0.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.7%, compared to a 18% growth forecast for the industry in Italy. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improved over the past week After last week's 24% share price gain to €17.18, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Machinery industry in Italy. Total returns to shareholders of 9.4% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €28.26 per share. Recent Insider Transactions • May 27
Insider recently bought €91k worth of stock On the 25th of May, Lee Leung bought around 6k shares on-market at roughly €15.20 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €521k more in shares than they have sold in the last 12 months. Reported Earnings • May 16
First quarter 2022 earnings: Revenues exceed analyst expectations First quarter 2022 results: Revenue: €93.3m (up 13% from 1Q 2021). Net loss: €37.0k (loss narrowed 98% from 1Q 2021). Profit margin: 0% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Over the next year, revenue is forecast to grow 10%, compared to a 18% growth forecast for the industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 16
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Trailing yield: 2.5%. Lower than top quartile of Italian dividend payers (4.7%). Higher than average of industry peers (1.2%). Reported Earnings • Mar 17
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: €0.75 (up from €0.69 loss in FY 2020). Revenue: €407.6m (up 22% from FY 2020). Net income: €7.80m (up €15.0m from FY 2020). Profit margin: 1.9% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 163%. Over the next year, revenue is forecast to grow 11%, compared to a 18% growth forecast for the industry in Italy. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Nov 24
Insider recently bought €55k worth of stock On the 19th of November, Lee Leung bought around 3k shares on-market at roughly €18.40 per share. In the last 3 months, they made an even bigger purchase worth €148k. Despite this recent purchase, insiders have collectively sold €840k more in shares than they bought in the last 12 months. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS €0.19 (vs €0.10 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €97.4m (up 28% from 3Q 2020). Net income: €2.12m (up €3.18m from 3Q 2020). Profit margin: 2.2% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Oct 07
Insider recently bought €53k worth of stock On the 4th of October, Lee Leung bought around 3k shares on-market at roughly €17.77 per share. In the last 3 months, they made an even bigger purchase worth €59k. Despite this recent purchase, insiders have collectively sold €1.0m more in shares than they bought in the last 12 months. Recent Insider Transactions • Sep 22
Insider recently bought €59k worth of stock On the 17th of September, Lee Leung bought around 3k shares on-market at roughly €19.63 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €1.2m more in shares than they bought in the last 12 months. Reported Earnings • Aug 01
Second quarter 2021 earnings released: EPS €0.093 (vs €0.045 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €101.7m (up 23% from 2Q 2020). Net income: €966.0k (up 107% from 2Q 2020). Profit margin: 0.9% (up from 0.6% in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jun 23
Insider recently sold €71k worth of stock On the 17th of June, Lee Leung sold around 3k shares on-market at roughly €23.70 per share. In the last 3 months, they made an even bigger sale worth €113k. Insiders have been net sellers, collectively disposing of €1.3m more than they bought in the last 12 months. Reported Earnings • May 28
First quarter 2021 earnings released: €0.15 loss per share (vs €0.31 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: €82.3m (up 9.7% from 1Q 2020). Net loss: €1.60m (loss narrowed 52% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • May 27
Insider recently sold €113k worth of stock On the 24th of May, Lee Leung sold around 5k shares on-market at roughly €22.60 per share. In the last 3 months, they made an even bigger sale worth €261k. Insiders have been net sellers, collectively disposing of €884k more than they bought in the last 12 months. Reported Earnings • Mar 12
Full year 2020 earnings released: €0.69 loss per share (vs €0.86 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €333.0m (down 22% from FY 2019). Net loss: €7.20m (down 180% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 65% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 12
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.4%. Earnings per share (EPS) also surpassed analyst estimates by 2,018%. Over the next year, revenue is forecast to grow 20%, compared to a 13% growth forecast for the Machinery industry in Italy. Price Target Changed • Mar 12
Price target raised to €20.75 Up from €16.50, the current price target is provided by 1 analyst. The new target price is 15% above the current share price of €18.04. As of last close, the stock is up 76% over the past year. Price Target Changed • Mar 10
Price target raised to €17.25 Up from €15.50, the current price target is an average from 2 analysts. The new target price is close to the current share price of €17.88. As of last close, the stock is up 71% over the past year. Is New 90 Day High Low • Mar 10
New 90-day high: €17.88 The company is up 35% from its price of €13.22 on 10 December 2020. The Italian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.96 per share. Is New 90 Day High Low • Feb 05
New 90-day high: €14.78 The company is up 28% from its price of €11.58 on 06 November 2020. The Italian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.94 per share. Reported Earnings • Dec 18
Third quarter 2020 earnings released: €0.10 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: €75.9m (down 18% from 3Q 2019). Net loss: €1.06m (down 146% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 17
New 90-day high: €14.56 The company is up 18% from its price of €12.32 on 18 September 2020. The Italian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.96 per share. Is New 90 Day High Low • Nov 19
New 90-day high: €14.40 The company is up 6.0% from its price of €13.64 on 20 August 2020. The Italian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.82 per share. Price Target Changed • Nov 11
Price target raised to €16.50 Up from €14.50, the current price target is an average from 2 analysts. The new target price is 33% above the current share price of €12.44. As of last close, the stock is down 18% over the past year. Reported Earnings • Nov 11
Third quarter 2020 earnings released: €0.10 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: €75.9m (down 18% from 3Q 2019). Net loss: €1.06m (down 146% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 29
New 90-day low: €10.98 The company is down 14% from its price of €12.80 on 30 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 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.01 per share. Major Estimate Revision • Oct 09
Analysts lower EPS estimates to -€0.033 The 2020 consensus revenue estimate was lowered from €347.9m to €329.3m. The company is forecast to report a loss instead of a profit with analysts lowering their EPS forecasts from €0.20 to -€0.033 for the same period. The Machinery industry in Italy is expected to see a 14% decline in net income next year. The consensus price target increased from €14.50 to €15.50. Share price is up 8.5% to €12.70 over the past week. Reported Earnings • Oct 05
First half earnings released Over the last 12 months the company has reported total profits of €4.41m, down 70% from the prior year. Total revenue was €370.4m over the last 12 months, down 20% from the prior year. Is New 90 Day High Low • Sep 22
New 90-day low: €11.90 The company is down 12% from its price of €13.54 on 24 June 2020. The Italian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.05 per share.