Upcoming Dividend • Apr 20
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 27 April 2026. Payment date: 29 April 2026. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 2.1%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (3.3%). New Risk • Mar 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.3% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.3% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 126% Dividend per share is over 67x cash flows per share. Earnings have declined by 12% per year over the past 5 years. Reported Earnings • Mar 29
Full year 2025 earnings released: €0.17 loss per share (vs €0.54 profit in FY 2024) Full year 2025 results: €0.17 loss per share (down from €0.54 profit in FY 2024). Revenue: €348.3m (flat on FY 2024). Net loss: €7.71m (down 131% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Declared Dividend • Mar 19
Dividend of €0.16 announced Dividend of €0.16 is the same as last year. Ex-date: 27th April 2026 Payment date: 29th April 2026 Dividend yield will be 2.7%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (126% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.6% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 40% to bring the payout ratio under control, which is more than the 9.2% EPS growth achieved over the last 5 years. Announcement • Mar 18
BasicNet S.p.A. announces Annual dividend, payable on April 29, 2026 BasicNet S.p.A. announced Annual dividend of EUR 0.1600 per share payable on April 29, 2026, ex-date on April 27, 2026 and record date on April 28, 2026. Announcement • Mar 16
BasicNet S.p.A., Annual General Meeting, Apr 16, 2026 BasicNet S.p.A., Annual General Meeting, Apr 16, 2026, at 11:00 W. Europe Standard Time. New Risk • Feb 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 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 126% Paying a dividend despite having no free cash flows. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). New Risk • Dec 08
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 5.6% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 126% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Announcement • Dec 05
BasicNet S.p.A. (BIT:BAN) entered into agreement to acquire Kickoff SpA from Winnie Srl for €19.6 million. BasicNet S.p.A. (BIT:BAN) entered into agreement to acquire Kickoff SpA from Winnie Srl for €19.6 million on December 4, 2025. The consideration consists of 1.4 million common equity of BasicNet S.p.A. having a value of €9.56 million to be issued for common equity of Kickoff SpA. BasicNet S.p.A. will pay an earnout/contingent payment of €10 million cash. As part of consideration, €19.56 million is paid towards common equity of Kickoff SpA. Announcement • Nov 14
BasicNet S.p.A. (BIT:BAN) reached an agreement to acquire WOOLRICH EUROPE Srl from L-GAM Advisers LLP for an enterprise value of €90 million. BasicNet S.p.A. (BIT:BAN) reached an agreement to acquire WOOLRICH EUROPE Srl from L-GAM Advisers LLP for an enterprise value of €90 million on November 12, 2025. Part of the consideration, amounting to €40 million, will be paid for €12 million through the transfer of 1,200,000 BasicNet ordinary shares at a value of €10 each. In addition, the seller may receive an earn-out based on the achievement of certain net result and revenue levels at the end of the 2026–2028 three-year period. The transfer of the shares included as part of the initial consideration will be subject to a 24-month lock-up period starting from the closing date. The transaction involves the acquisition, through a wholly owned BasicNet subsidiary, of the rights to the Woolrich brand for Europe. The acquisition and refinancing of existing debt will be structured despite existing liquidity through mid-long-term credit lines and a revolving credit facility for a total of up to €90 million. The new financing will be provided by UniCredit, as strategic partner of the Group and sole lender of the transaction.
The execution of the transaction is not subject to any condition precedent and is expected to take place by December 2025.
Houlihan Lokey, Inc. acted as financial advisor, Labruna Mazziotti Segni acted as legal advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for L-GAM Advisers LLP. Ernst & Young LLP acted as accountant for L-GAM Advisers LLP. Carlo Peyron of Pavesio e Associati with Negri-Clementi acted as legal advisor and Ernst & Young Italia acted as due diligence provider for BasicNet S.p.A. New Risk • Sep 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 5.6% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 126% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). New Risk • Aug 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% 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. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 126% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.7% net profit margin). Reported Earnings • Aug 04
First half 2025 earnings released: €0.36 loss per share (vs €0.057 profit in 1H 2024) First half 2025 results: €0.36 loss per share (down from €0.057 profit in 1H 2024). Revenue: €137.3m (down 4.2% from 1H 2024). Net loss: €16.6m (down €19.4m from profit in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. New Risk • Aug 03
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: 1.7% Last year net profit margin: 6.0% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 118% Paying a dividend despite having no free cash flows. Minor Risk Profit margins are more than 30% lower than last year (1.7% net profit margin). Upcoming Dividend • Apr 21
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 28 April 2025. Payment date: 30 April 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Italian dividend payers (5.8%). Lower than average of industry peers (3.8%). Reported Earnings • Mar 28
Full year 2024 earnings released: EPS: €0.54 (vs €0.49 in FY 2023) Full year 2024 results: EPS: €0.54 (up from €0.49 in FY 2023). Revenue: €346.8m (up 4.2% from FY 2023). Net income: €25.3m (up 3.6% from FY 2023). Profit margin: 7.3% (in line with FY 2023). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Declared Dividend • Mar 12
Dividend increased to €0.16 Dividend of €0.16 is 6.7% higher than last year. Ex-date: 28th April 2025 Payment date: 30th April 2025 Dividend yield will be 2.3%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 7.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 58% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.3% EPS decline seen over the last 5 years. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €8.78, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 18x in the Specialty Retail industry in Europe. Total returns to shareholders of 81% over the past three years. Buy Or Sell Opportunity • Nov 04
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 69% to €5.64. The fair value is estimated to be €4.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 5.5%. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to €5.26, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 16x in the Specialty Retail industry in Europe. Total returns to shareholders of 15% over the past three years. Buy Or Sell Opportunity • Sep 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.6% to €3.12. The fair value is estimated to be €3.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 5.5%. Buy Or Sell Opportunity • Aug 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to €3.12. The fair value is estimated to be €3.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 5.5%. Buy Or Sell Opportunity • Aug 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to €3.05. The fair value is estimated to be €3.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 5.5%. Reported Earnings • Aug 05
First half 2024 earnings released: EPS: €0.057 (vs €0.15 in 1H 2023) First half 2024 results: EPS: €0.057 (down from €0.15 in 1H 2023). Revenue: €143.4m (down 2.2% from 1H 2023). Net income: €2.82m (down 62% from 1H 2023). Profit margin: 2.0% (down from 5.1% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Aug 02
BasicNet S.p.A. to Report Q2, 2025 Results on Oct 30, 2024 BasicNet S.p.A. announced that they will report Q2, 2025 results on Oct 30, 2024 Upcoming Dividend • Apr 15
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 22 April 2024. Payment date: 24 April 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Italian dividend payers (5.7%). In line with average of industry peers (3.5%). Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: €0.49 (vs €0.60 in FY 2022) Full year 2023 results: EPS: €0.49 (down from €0.60 in FY 2022). Revenue: €332.8m (up 6.4% from FY 2022). Net income: €24.4m (down 19% from FY 2022). Profit margin: 7.3% (down from 9.6% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Feb 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 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 Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Dividend is not well covered by cash flows (483% cash payout ratio). Reported Earnings • Aug 02
First half 2023 earnings released: EPS: €0.15 (vs €0.21 in 1H 2022) First half 2023 results: EPS: €0.15 (down from €0.21 in 1H 2022). Revenue: €146.6m (up 16% from 1H 2022). Net income: €7.43m (down 31% from 1H 2022). Profit margin: 5.1% (down from 8.5% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 17
Upcoming dividend of €0.18 per share at 3.1% yield Eligible shareholders must have bought the stock before 24 April 2023. Payment date: 26 April 2023. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of Italian dividend payers (5.0%). Lower than average of industry peers (3.8%). Reported Earnings • Mar 14
Full year 2022 earnings released: EPS: €0.60 (vs €0.40 in FY 2021) Full year 2022 results: EPS: €0.60 (up from €0.40 in FY 2021). Revenue: €312.7m (up 29% from FY 2021). Net income: €30.0m (up 48% from FY 2021). Profit margin: 9.6% (up from 8.4% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 24
Now 21% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be €6.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 11%. Announcement • Jan 12
BasicNet S.p.A. to Report Fiscal Year 2022 Final Results on Mar 09, 2023 BasicNet S.p.A. announced that they will report fiscal year 2022 final results on Mar 09, 2023 Announcement • Jan 11
BasicNet S.p.A. to Report Fiscal Year 2022 Results on Feb 10, 2023 BasicNet S.p.A. announced that they will report fiscal year 2022 results on Feb 10, 2023 Buying Opportunity • Jan 06
Now 21% undervalued Over the last 90 days, the stock is up 7.5%. The fair value is estimated to be €6.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years. Earnings per share has grown by 11%. Reported Earnings • Aug 02
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €4.14m from profit in 1H 2021). Profit margin: (down from 4.0% in 1H 2021). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Apr 18
Upcoming dividend of €0.12 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 27 April 2022. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of Italian dividend payers (4.7%). Lower than average of industry peers (4.2%). Reported Earnings • Mar 07
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: €0.40 (up from €0.16 in FY 2020). Revenue: €241.6m (up 13% from FY 2020). Net income: €20.3m (up 137% from FY 2020). Profit margin: 8.4% (up from 4.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 9.8%. Earnings per share (EPS) missed analyst estimates by 12%. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 03
First half 2021 earnings released The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €102.6m (up 18% from 1H 2020). Net income: €4.14m (up €9.66m from 1H 2020). Profit margin: 4.0% (up from net loss in 1H 2020). The move to profitability was driven by higher revenue. Upcoming Dividend • Apr 12
Upcoming dividend of €0.06 per share Eligible shareholders must have bought the stock before 19 April 2021. Payment date: 21 April 2021. Trailing yield: 1.4%. Lower than top quartile of Italian dividend payers (4.1%). Lower than average of industry peers (2.5%). Reported Earnings • Mar 21
Full year 2020 earnings released: EPS €0.16 (vs €0.39 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €213.8m (down 14% from FY 2019). Net income: €8.58m (down 59% from FY 2019). Profit margin: 4.0% (down from 8.4% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 04
New 90-day high: €4.34 The company is up 16% from its price of €3.73 on 03 December 2020. The Italian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: €4.02 The company is up 25% from its price of €3.22 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 Specialty Retail industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 11
New 90-day high: €3.94 The company is up 13% from its price of €3.50 on 11 September 2020. The Italian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 16% over the same period. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 15% share price gain to €3.33, the stock is trading at a trailing P/E ratio of 41.1x, up from the previous P/E ratio of 35.6x. This compares to an average P/E of 18x in the Specialty Retail industry in Europe. Total returns to shareholders over the past three years are 2.3%. Is New 90 Day High Low • Nov 05
New 90-day low: €2.82 The company is down 22% from its price of €3.60 on 07 August 2020. The Italian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 6.0% over the same period. Is New 90 Day High Low • Oct 21
New 90-day low: €3.12 The company is down 17% from its price of €3.78 on 23 July 2020. The Italian market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 10.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: €3.17 The company is down 21% from its price of €3.99 on 26 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 Specialty Retail industry, which is up 7.0% over the same period.