Upcoming Dividend • May 11
Upcoming dividend of €0.45 per share Eligible shareholders must have bought the stock before 18 May 2026. Payment date: 20 May 2026. Trailing yield: 0.8%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (3.4%). Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €60.30, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 14x in the Chemicals industry in Italy. Total returns to shareholders of 142% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €24.22 per share. Announcement • Mar 30
SOL S.p.A., Annual General Meeting, May 12, 2026 SOL S.p.A., Annual General Meeting, May 12, 2026, at 11:00 W. Europe Standard Time. Reported Earnings • Mar 30
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: €1.84 (up from €1.63 in FY 2024). Revenue: €1.81b (up 10% from FY 2024). Net income: €167.0m (up 13% from FY 2024). Profit margin: 9.2% (up from 9.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Chemicals industry in Italy. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Mar 29
Dividend increased to €0.45 Dividend of €0.45 is 15% higher than last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 0.8%, which is lower than the industry average of 2.8%. Payout Ratios Payout ratio: 23%. Cash payout ratio: 214%. Announcement • Mar 27
SOL S.p.A. announces Annual dividend, payable on May 20, 2026 SOL S.p.A. announced Annual dividend of EUR 0.4500 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026. New Risk • Sep 18
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 49% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 15
First half 2025 earnings released: EPS: €0.92 (vs €0.83 in 1H 2024) First half 2025 results: EPS: €0.92 (up from €0.83 in 1H 2024). Revenue: €890.2m (up 13% from 1H 2024). Net income: €83.5m (up 12% from 1H 2024). Profit margin: 9.4% (in line with 1H 2024). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Chemicals industry in Italy. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jun 03
Price target increased by 13% to €47.50 Up from €42.00, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of €46.70. Stock is up 42% over the past year. The company is forecast to post earnings per share of €1.92 for next year compared to €1.63 last year. Upcoming Dividend • May 12
Upcoming dividend of €0.39 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. Trailing yield: 0.9%. Lower than top quartile of Italian dividend payers (5.4%). Lower than average of industry peers (2.6%). Declared Dividend • Mar 31
Dividend increased to €0.39 Dividend of €0.39 is 5.4% higher than last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.8%. Sustainability & Growth The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 30
SOL S.p.A. announces Annual dividend, payable on May 21, 2025 SOL S.p.A. announced Annual dividend of EUR 0.3900 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025. Reported Earnings • Mar 30
Full year 2024 earnings released: EPS: €1.63 (vs €1.61 in FY 2023) Full year 2024 results: EPS: €1.63 (up from €1.61 in FY 2023). Revenue: €1.64b (up 9.3% from FY 2023). Net income: €147.7m (up 1.3% from FY 2023). Profit margin: 9.0% (in line with FY 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Chemicals industry in Italy. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Sep 17
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 44% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 17
First half 2024 earnings released: EPS: €0.83 (vs €0.88 in 1H 2023) First half 2024 results: EPS: €0.83 (down from €0.88 in 1H 2023). Revenue: €779.6m (up 3.0% from 1H 2023). Net income: €74.9m (down 5.9% from 1H 2023). Profit margin: 9.6% (in line with 1H 2023). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Chemicals industry in Italy. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 19% per year. Upcoming Dividend • May 13
Upcoming dividend of €0.37 per share Eligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Italian dividend payers (5.4%). Lower than average of industry peers (2.7%). Reported Earnings • Mar 29
Full year 2023 earnings: EPS in line with analyst expectations despite revenue beat Full year 2023 results: EPS: €1.61 (up from €1.47 in FY 2022). Revenue: €1.53b (up 5.4% from FY 2022). Net income: €145.7m (up 9.0% from FY 2022). Profit margin: 9.5% (in line with FY 2022). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Chemicals industry in Italy. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Sep 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 20
Second quarter 2023 earnings released: EPS: €0.42 (vs €0.35 in 2Q 2022) Second quarter 2023 results: EPS: €0.42 (up from €0.35 in 2Q 2022). Revenue: €378.9m (up 11% from 2Q 2022). Net income: €38.5m (up 20% from 2Q 2022). Profit margin: 10% (in line with 2Q 2022). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Sep 17
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 47% 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. This is currently the only risk that has been identified for the company. Upcoming Dividend • May 15
Upcoming dividend of €0.33 per share at 1.2% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Italian dividend payers (5.3%). Lower than average of industry peers (3.9%). Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Erwin Paul Rauhe was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 18
Second quarter 2022 earnings released: EPS: €0.35 (vs €0.26 in 2Q 2021) Second quarter 2022 results: EPS: €0.35 (up from €0.26 in 2Q 2021). Revenue: €357.9m (up 28% from 2Q 2021). Net income: €32.1m (up 36% from 2Q 2021). Profit margin: 9.0% (up from 8.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 09
Upcoming dividend of €0.24 per share Eligible shareholders must have bought the stock before 16 May 2022. Payment date: 18 May 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Italian dividend payers (4.8%). Lower than average of industry peers (3.4%). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Erwin Paul Rauhe was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Mar 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be €19.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.3% per annum over the last 3 years. Earnings per share has grown by 34% per annum over the last 3 years. Reported Earnings • Sep 18
Second quarter 2021 earnings released: EPS €0.26 (vs €0.23 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: €280.7m (up 17% from 2Q 2020). Net income: €23.7m (up 15% from 2Q 2020). Profit margin: 8.4% (down from 8.6% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 20
Full year 2020 earnings released: EPS €1.19 (vs €0.58 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €987.1m (up 7.5% from FY 2019). Net income: €108.2m (up 107% from FY 2019). Profit margin: 11% (up from 5.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 18
Upcoming dividend of €0.22 per share Eligible shareholders must have bought the stock before 24 May 2021. Payment date: 26 May 2021. Trailing yield: 1.3%. Lower than top quartile of Italian dividend payers (3.8%). Lower than average of industry peers (2.3%). Upcoming Dividend • May 10
Upcoming dividend of €0.22 per share Eligible shareholders must have bought the stock before 17 May 2021. Payment date: 19 May 2021. Trailing yield: 1.3%. Lower than top quartile of Italian dividend payers (3.9%). Lower than average of industry peers (2.4%). Is New 90 Day High Low • Mar 16
New 90-day high: €15.70 The company is up 18% from a price of €13.35 on 16 December 2020. Outperformed the Italian market which is up 10.0% over the last 90 days. Exceeded the Chemicals industry, which is up 6.0% over the same period. Is New 90 Day High Low • Feb 08
New 90-day high: €15.15 The company is up 31% from its price of €11.60 on 10 November 2020. The Italian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 9.0% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: €14.75 The company is up 28% from its price of €11.55 on 21 October 2020. The Italian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: €13.80 The company is up 18% from its price of €11.65 on 29 September 2020. The Italian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 6.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: €13.70 The company is up 25% from its price of €11.00 on 09 September 2020. The Italian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 4.0% over the same period. Is New 90 Day High Low • Nov 12
New 90-day high: €12.25 The company is up 13% from its price of €10.85 on 14 August 2020. The Italian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 4.0% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: €11.90 The company is up 8.0% from its price of €11.00 on 19 June 2020. The Italian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 10.0% over the same period.