Buy Or Sell Opportunity • Apr 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to €0.79. The fair value is estimated to be €1.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 8.4% in a year. Earnings are forecast to grow by 64% in the next year. Reported Earnings • Mar 30
Full year 2025 earnings released Full year 2025 results: Revenue: €5.44m (up 2.3% from FY 2024). Net loss: €1.40m (loss narrowed 55% from FY 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Europe are expected to remain flat. Announcement • Jan 19
ENA S.p.A., Annual General Meeting, Jan 30, 2026 ENA S.p.A., Annual General Meeting, Jan 30, 2026, at 17:30 W. Europe Standard Time. New Risk • Nov 26
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 7.4% 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 (7.4% average weekly change). Market cap is less than US$10m (€7.64m market cap, or US$8.85m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). New Risk • Jul 09
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 5.9% 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: Major Risk Market cap is less than US$10m (€7.55m market cap, or US$8.85m). Minor Risks Share price has been volatile over the past 3 months (5.9% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). New Risk • Jul 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€7.04m market cap, or US$8.31m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). New Risk • Apr 16
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 Risk Market cap is less than US$10m (€6.61m market cap, or US$7.51m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Announcement • Apr 16
ENA S.p.A., Annual General Meeting, Apr 29, 2025 ENA S.p.A., Annual General Meeting, Apr 29, 2025, at 17:30 W. Europe Standard Time. Board Change • Mar 26
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Feb 04
Price target decreased by 14% to €1.64 Down from €1.91, the current price target is provided by 1 analyst. New target price is 64% above last closing price of €1.00. Stock is down 56% over the past year. The company posted earnings per share of €0.034 last year. Board Change • Feb 04
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Jan 02
Price target decreased by 14% to €1.64 Down from €1.91, the current price target is provided by 1 analyst. New target price is 38% above last closing price of €1.19. Stock is down 49% over the past year. The company posted earnings per share of €0.034 last year. Board Change • Jan 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Sep 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 5.3% 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 Revenue has declined by 11% over the past year. Market cap is less than US$10m (€7.82m market cap, or US$8.63m). Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Profit margins are more than 30% lower than last year (3.2% net profit margin). New Risk • Jul 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.24m (US$10.00m) 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 Revenue has declined by 11% over the past year. Market cap is less than US$10m (€9.24m market cap, or US$10.00m). Minor Risk Profit margins are more than 30% lower than last year (3.2% net profit margin). Reported Earnings • May 13
Full year 2023 earnings released Full year 2023 results: Revenue: €7.56m (down 9.8% from FY 2022). Net income: €243.4k (down 87% from FY 2022). Profit margin: 3.2% (down from 23% in FY 2022). 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 Real Estate industry in Italy. Buy Or Sell Opportunity • May 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to €1.60. The fair value is estimated to be €2.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last year. Earnings per share has declined by 52%. New Risk • Apr 17
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: Major Risk High level of non-cash earnings (42% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€10.9m market cap, or US$11.6m). Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €2.50, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 14x in the Real Estate industry in Europe. Total loss to shareholders of 17% over the past year. Reported Earnings • Oct 06
First half 2023 earnings released First half 2023 results: Revenue: €4.45m (up 12% from 1H 2022). Net income: €816.6k (down 18% from 1H 2022). Profit margin: 18% (down from 25% in 1H 2022). The decrease in margin was driven by higher expenses. New Risk • Sep 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 101% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). High level of non-cash earnings (49% accrual ratio). Shareholders have been substantially diluted in the past year (101% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€26.3m market cap, or US$28.0m). Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €3.78, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 13x in the Real Estate industry in Italy. Total returns to shareholders of 22% over the past year. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to €2.86, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 13x in the Real Estate industry in Italy. Total loss to shareholders of 5.6% over the past year. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €3.62, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 7x in the Real Estate industry in Europe. Total returns to shareholders of 16% over the past year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. was the last director to join the board, commencing their role in . The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 23
First half 2022 earnings released: EPS: €0 (vs €0.13 in 1H 2021) First half 2022 results: EPS: €0. Revenue: €4.24m (up 146% from 1H 2021). Net income: €990.3k (up 164% from 1H 2021). Profit margin: 23% (up from 22% in 1H 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Europe are expected to remain flat. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. was the last director to join the board, commencing their role in . The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 13
S.I.F. Italia S.p.A. (BIT:SIF) agreed to acquire remaining 60% stake in Gestionistabili S.r.l. for €0.15 million. S.I.F. Italia S.p.A. (BIT:SIF) agreed to acquire remaining 60% stake in Gestionistabili S.r.l. for €0.15 million on January 11, 2022. Announcement • Jan 12
S.I.F. Italia S.p.A. (BIT:SIF) agreed to acquire Studio Campana S.R.L. for €0.12 million. S.I.F. Italia S.p.A. (BIT:SIF) agreed to acquire Studio Campana S.R.L. for €0.12 million on January 11, 2022. In addition to €0.12 million, €0.03 million will be paid as severance pay to two employees. Board Change • Dec 17
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. was the last director to join the board, commencing their role in . The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.