New Risk • Apr 21
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue 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 (9.0% average weekly change). Revenue is less than US$1m. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €6.19, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Oil and Gas industry in Europe. Total returns to shareholders of 182% over the past three years. Reported Earnings • Apr 12
Full year 2025 earnings released Full year 2025 results: Revenue: €167.7m (up 26% from FY 2024). Net income: €19.8m (up 57% from FY 2024). Profit margin: 12% (up from 9.5% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Oil and Gas industry in Europe. New Risk • Apr 07
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 Share price has been highly volatile over the past 3 months (8.5% average weekly change). 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. New Risk • Mar 03
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 4.9% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (4.9% average weekly change). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €7.50, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 10x in the Oil and Gas industry in Europe. Total returns to shareholders of 244% over the past three years. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €6.32, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Oil and Gas industry in Europe. Total returns to shareholders of 235% over the past three years. New Risk • Sep 05
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 7.6% 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 Risk Share price has been highly volatile over the past 3 months (7.6% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.5% net profit margin). Price Target Changed • Aug 08
Price target increased by 16% to €6.50 Up from €5.60, the current price target is provided by 1 analyst. New target price is 53% above last closing price of €4.24. Stock is up 75% over the past year. The company is forecast to post earnings per share of €0.56 for next year compared to €0.29 last year. Upcoming Dividend • Jul 21
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 28 July 2025. Payment date: 30 July 2025. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Italian dividend payers (5.1%). Lower than average of industry peers (6.3%). New Risk • Jun 10
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 6.0% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (9.5% net profit margin). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €4.49, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Oil and Gas industry in Europe. Total returns to shareholders of 70% over the past three years. Announcement • May 12
Gas Plus S.p.A., Annual General Meeting, Jun 11, 2025 Gas Plus S.p.A., Annual General Meeting, Jun 11, 2025, at 14:30 W. Europe Standard Time. Buy Or Sell Opportunity • Apr 29
Now 20% undervalued Over the last 90 days, the stock has risen 13% to €3.30. The fair value is estimated to be €4.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has grown by 45%. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €3.36, the stock trades at a trailing P/E ratio of 10x. Average trailing P/E is 9x in the Oil and Gas industry in Europe. Total loss to shareholders of 2.9% over the past three years. New Risk • Apr 06
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (11% net profit margin). New Risk • Jan 30
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 7.3% 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 Risk Share price has been highly volatile over the past 3 months (7.3% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (11% net profit margin). New Risk • Dec 30
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 2.6% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (2.6% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €3.22, the stock trades at a trailing P/E ratio of 9.6x. Average forward P/E is 6x in the Oil and Gas industry in Europe. Total returns to shareholders of 3.7% over the past three years. New Risk • Sep 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 11% Last year net profit margin: 20% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (11% net profit margin). Upcoming Dividend • Jul 22
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 29 July 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 5.9%. Within top quartile of Italian dividend payers (5.4%). In line with average of industry peers (6.3%). New Risk • Mar 25
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Sep 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 Earnings have declined by 21% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.4% net profit margin). Upcoming Dividend • Jul 24
Upcoming dividend of €0.05 per share at 2.0% yield Eligible shareholders must have bought the stock before 31 July 2023. Payment date: 02 August 2023. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Italian dividend payers (5.3%). Lower than average of industry peers (8.8%). 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, none were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Anna Varisco was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €2.99, the stock trades at a trailing P/E ratio of 41.4x. Average forward P/E is 4x in the Oil and Gas industry in Europe. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 18% share price gain to €4.04, the stock trades at a trailing P/E ratio of 56x. Average forward P/E is 4x in the Oil and Gas industry in Europe. Total returns to shareholders of 89% over the past three years. Upcoming Dividend • Jul 11
Upcoming dividend of €0.05 per share Eligible shareholders must have bought the stock before 18 July 2022. Payment date: 20 July 2022. Trailing yield: 1.4%. Lower than top quartile of Italian dividend payers (5.3%). Lower than average of industry peers (7.4%). Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €2.91, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 6x in the Oil and Gas industry in Europe. Total returns to shareholders of 49% over the past three years. Price Target Changed • Apr 27
Price target increased to €5.60 Up from €3.00, the current price target is provided by 1 analyst. New target price is 46% above last closing price of €3.83. Stock is up 103% over the past year. Board Change • Apr 27
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 Anna Varisco was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 15
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €84.8m (up 19% from FY 2020). Net income: €3.15m (up €37.4m from FY 2020). Profit margin: 3.7% (up from net loss in FY 2020). Revenue exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 28%, compared to a 38% growth forecast for the oil industry in Italy. Reported Earnings • Sep 15
First half 2021 earnings released The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €39.2m (up 2.1% from 1H 2020). Net loss: €306.0k (loss narrowed 93% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 24
Full year 2020 earnings released The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: €75.5m (down 14% from FY 2019). Net loss: €34.2m (loss widened €33.6m from FY 2019). Is New 90 Day High Low • Dec 07
New 90-day high: €1.95 The company is up 12% from its price of €1.74 on 08 September 2020. The Italian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Oil and Gas industry, which is up 13% over the same period. Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total losses of €8.27m, with earnings decreasing by €11.6m from the prior year. Total revenue was €76.3m over the last 12 months, down 14% from the prior year. Is New 90 Day High Low • Sep 18
New 90-day high: €1.86 The company is up 3.0% from its price of €1.80 on 19 June 2020. The Italian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 9.0% over the same period.