Buy Or Sell Opportunity • Jun 12
Now 26% overvalued Over the last 90 days, the stock has fallen 11% to €2.50. The fair value is estimated to be €1.98, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 45% in a year. Earnings are forecast to grow by 56% in the next year. New Risk • May 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.31m (US$9.71m) 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 Risk Market cap is less than US$10m (€8.31m market cap, or US$9.71m). Minor Risks High level of debt (415% net debt to equity). Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Apr 17
Full year 2025 earnings: Revenues exceed analyst expectations Full year 2025 results: Revenue: €72.3m (up 26% from FY 2024). Net loss: €2.63m (down €2.81m from profit in FY 2024). Revenue exceeded analyst estimates by 5.8%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Hospitality industry in Europe. New Risk • Apr 13
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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (6.3% average weekly change). Market cap is less than US$100m (€9.40m market cap, or US$11.0m). New Risk • Mar 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.56m (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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (€8.56m market cap, or US$9.95m). New Risk • Mar 04
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 5.2% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Market cap is less than US$100m (€9.46m market cap, or US$11.0m). Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €3.68, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Hospitality industry in Europe. Total returns to shareholders of 33% over the past year. Announcement • Jul 17
Xenia Hôtellerie Solution S.p.A. Società Benefit (BIT:XHS) signed a binding purchase offer to acquire Hotel and incoming tour operator businesses of the Italica Turismo Group from Italica Turismo S.P.A. Xenia Hôtellerie Solution S.p.A. Società Benefit (BIT:XHS) signed a binding purchase offer to acquire Hotel and incoming tour operator businesses of the Italica Turismo Group from Italica Turismo S.P.A. on July 16, 2025. The transaction involves the purchase of the 4-star hotel business units of the following hotels - Bellamonte in Predazzo, Garden Area in Rome, Sighientu in Quartu Sant'Elena and La Tonnara di Bonagia di Valderice as well as the incoming tour operator Italica DMC, specializing in destinations such as Lake Garda, Trentino Alto Adige, Sardinia, and Sicily.
Xenia is using previously acquired lines of financing.
The closing is subject to authorization from the competent Court and other customary conditions precedent in these contexts. If the closing conditions are met, the transaction is expected to be finalized by fall 2025. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €3.28, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Hospitality industry in Europe. Total returns to shareholders of 15% over the past year. New Risk • Jun 18
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.50m (US$9.75m) 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 (1.4x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (€8.50m market cap, or US$9.75m). Minor Risk Profit margins are more than 30% lower than last year (0.3% net profit margin). New Risk • Jun 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x 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 (1.2x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (€9.21m market cap, or US$10.5m). Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €3.50, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 13x in the Hospitality industry in Europe. Total returns to shareholders of 23% over the past year. Announcement • Apr 15
Xenia Hôtellerie Solution S.p.A. Società Benefit, Annual General Meeting, Apr 28, 2025 Xenia Hôtellerie Solution S.p.A. Società Benefit, Annual General Meeting, Apr 28, 2025, at 16:00 W. Europe Standard Time. Location: phi hotel piajo via piajo n nembro, bg Italy New Risk • Apr 13
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 Share price has been highly volatile over the past 3 months (9.4% average weekly change). High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (€7.98m market cap, or US$9.05m). Minor Risks High level of debt (85% net debt to equity). Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €2.22, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 12x in the Hospitality industry in Europe. Total loss to shareholders of 22% over the past year. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €2.70, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 14x in the Hospitality industry in Europe. Total loss to shareholders of 1.5% over the past year. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €2.22, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 14x in the Hospitality industry in Europe. Total loss to shareholders of 18% over the past year. New Risk • Mar 03
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 7.9% 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 (7.9% average weekly change). High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (€7.73m market cap, or US$8.11m). Minor Risk High level of debt (85% net debt to equity). Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €2.78, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 15x in the Hospitality industry in Europe. Negligible returns to shareholders over past year. New Risk • Jan 20
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 3.7% 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 High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (€7.98m market cap, or US$8.24m). Minor Risks High level of debt (85% net debt to equity). Share price has been volatile over the past 3 months (3.7% average weekly change). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to €2.90, the stock trades at a trailing P/E ratio of 9.2x. Average forward P/E is 14x in the Hospitality industry in Europe. Negligible returns to shareholders over past year. Board Change • Jan 03
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Francesco Amicucci was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Oct 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 Risks High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (€9.01m market cap, or US$9.89m). Minor Risk High level of debt (85% net debt to equity). New Risk • Sep 29
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 85% 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 (85% net debt to equity). Market cap is less than US$100m (€9.01m market cap, or US$10.1m). Announcement • May 30
Xenia Hôtellerie Solution S.p.A. Società Benefit (BIT:XHS) acquired Hotel Cavalieri Bra from S.I.A.B. S.R.L. Xenia Hôtellerie Solution S.p.A. Società Benefit (BIT:XHS) acquired Hotel Cavalieri Bra from S.I.A.B. S.R.L. on May 28, 2024.Xenia Hôtellerie Solution S.p.A. Società Benefit (BIT:XHS) completed the acquisition of Hotel Cavalieri Bra from S.I.A.B. S.R.L. on May 28, 2024. New Risk • May 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.14m (US$9.93m) 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 Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Market cap is less than US$10m (€9.14m market cap, or US$9.93m). Reported Earnings • May 12
Full year 2023 earnings released Full year 2023 results: Revenue: €50.3m (up 11% from FY 2022). Net income: €1.44m (up 69% from FY 2022). Profit margin: 2.9% (up from 1.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 9.1% growth forecast for the Hospitality industry in Italy. New Risk • Feb 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.01m (US$9.72m) 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 Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Market cap is less than US$10m (€9.01m market cap, or US$9.72m).