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 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (€53.7m market cap, or US$63.3m). New Risk • Jan 17
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 6.7% 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 (6.7% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (€57.1m market cap, or US$66.2m). Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €2.35, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Electronic industry in Italy. Total returns to shareholders of 55% over the past three years. Announcement • Oct 15
FAE Technology S.p.A. (BIT:FAE) announces an Equity Buyback for €2 million worth of its shares. FAE Technology S.p.A. (BIT:FAE) announces an share repurchase program. Under the program, the company will repurchases up to €2 million worth of its shares. The program is valid till November 29, 2026. New Risk • Sep 30
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: 1.2% Last year net profit margin: 5.9% 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 Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (€47.1m market cap, or US$55.2m). Price Target Changed • Sep 19
Price target decreased by 22% to €4.10 Down from €5.25, the current price target is provided by 1 analyst. New target price is 58% above last closing price of €2.60. Stock is down 28% over the past year. The company is forecast to post earnings per share of €0.11 for next year compared to €0.18 last year. Announcement • Sep 10
FAE Technology S.p.A. (BIT:FAE) signed a binding agreement to acquire Kayser Italia S.R.L. from Zolesi family for €4 million. FAE Technology S.p.A. (BIT:FAE) signed a binding agreement to acquire Kayser Italia S.R.L. from Zolesi family for €4 million on September 9, 2025. The agreed price for the Transaction is €3.75 million, determined according to the locked box mechanism, to which an earnout of up to €0.3 million may be added, subject to the achievement of revenue targets for fiscal year 2025 and the retention of key managers. The terms of payment stipulate, on the first closing, €1.12 million by offsetting the receivable held by the Target's shareholders (with respect to the payment in their favor of the Price in Shares) with the debt (of a corresponding amount) related to the subscription by the latter of a certain number of FAE Technology ordinary shares as part of the exercise of the power pursuant to Article 2443 of the Civil Code for the capital increase resolved on October 27, 2023 by the Extraordinary Shareholders' Meeting of the Company, and €1 million cash on account on the second closing. Cash of €0.57 million will be paid at the second closing, in addition to the possible earnout of up to €0.3 million. On the conclusion of 18 months from the first closing, a deferred cash payment of €1.06 million is stipulated. The Transaction will be completed in two stages. The first closing, which is contingent on obtaining "Golden Power" approval, stipulates the transfer of 29.9% of the shares and will be finalized by December 31, 2025, allowing FAE to appoint two-thirds of the Board of Directors, including the Chief Executive Officer. The second closing will stipulate the transfer of the remaining 70.1%, thus enabling FAE Technology to gain 100% control by December 31, 2026.
David Stefano Zolesi, Chief Executive Officer of Kayser Italia, will assume the position of Director of the FAE Technology Group's new Space division, also coordinating the activities of Kayser Italia in this role. Gianmarco Lanza, Chairperson and Chief Executive Officer of FAE Technology, will take on the role of Chairperson of Kayser Italia.
For the period ending December 31, 2024, Kayser Italia S.R.L. reported total revenue of €13.1 million and EBITDA of €0.5 million. At December 31, 2024, the adjusted aggregate net cash was €0.4 million.
The transaction is subject to Golden Power authorization from the Presidency of the Council of Ministers. Reported Earnings • May 05
Full year 2024 earnings released Full year 2024 results: Revenue: €72.7m (up 18% from FY 2023). Net income: €3.56m (up 9.6% from FY 2023). Profit margin: 4.9% (down from 5.3% in FY 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Electronic industry in Italy. New Risk • Apr 15
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). Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (€45.5m market cap, or US$51.6m). Buy Or Sell Opportunity • Apr 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to €2.37. The fair value is estimated to be €2.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last year. Earnings per share has declined by 81%. For the next 3 years, revenue is forecast to grow by 9.9% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Buy Or Sell Opportunity • Mar 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to €2.24. The fair value is estimated to be €2.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last year. Earnings per share has declined by 81%. For the next 3 years, revenue is forecast to grow by 9.9% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Announcement • Mar 20
FAE Technology S.p.A. (BIT:FAE) acquired MAS Elettronica S.r.l. for €0.02 million. FAE Technology S.p.A. (BIT:FAE) signed a binding agreement to acquire MAS Elettronica S.r.l. on February 5, 2025. The integration of MAS Elettronica's advanced expertise will also help accelerate the time-to market of the application solutions, developing the Group's ability to respond to global market needs with cutting-edge and tailored technologies.
The expected completion of the transaction is May 10, 2025.
Giulia Bianchi Frangipane, Vittorio Pomarici and Michel Miccoli of BonelliErede acted as legal advisor to FAE Technology S.p.A. The sellers were assisted by the lawyer Bruno Bertolo, for the legal aspects of the operation, and by Gianfranco Gaudioso, for the fiscal and corporate aspects of the operation.
FAE Technology S.p.A. (BIT:FAE) completed the acquisition of MAS Elettronica S.r.l. on March 18, 2025. The closing took place with the payment to the counterparty of consideration of €0.02 million. As part of the acquisition, Gianmarco Lanza takes over as Sole Director of MAS Elettronica. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €2.40, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Electronic industry in Italy. Total loss to shareholders of 27% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €3.08 per share. Buy Or Sell Opportunity • Jan 28
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to €2.40. The fair value is estimated to be €3.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Buy Or Sell Opportunity • Nov 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to €2.75. The fair value is estimated to be €3.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Major Estimate Revision • Oct 01
Consensus EPS estimates fall by 26% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €84.0m to €80.1m. EPS estimate also fell from €0.354 per share to €0.262 per share. Net income forecast to grow 51% next year vs 53% growth forecast for Electronic industry in Italy. Consensus price target down from €5.25 to €5.10. Share price was steady at €3.92 over the past week. Announcement • Sep 25
FAE Technology S.p.A. (BIT:FAE) signed a binding agreement to acquire Iptronix S.R.L. for €3.11 million. FAE Technology S.p.A. (BIT:FAE) signed a binding agreement to acquire Iptronix S.R.L. for €3.11 million on September 24, 2024. A cash consideration of €0.41 million will be paid by FAE Technology S.p.A. at closing. The consideration consists of common equity of FAE Technology S.p.A. having a value of €2 million to be issued for common equity of Iptronix S.R.L. 90% of the shares will be subject to Lock-Up from 18 to 36 months. FAE Technology S.p.A. will pay an earnout/contingent payment of €0.7 million cash based on IpTronix's financial year 2025 results to be paid on June 30, 2026. As part of consideration €3.11 million is paid towards common equity of Iptronix S.R.L. Dario Pennisi, IpTronix founder and former hardware and firmware development manager at Arduino, will join FAE Technology as the Chief Technology Officer of the FAE Technology Group, also coordinating the activities of IpTronix in this role. Gianmarco Lanza, Chairperson and Chief Executive Officer of FAE Technology, will become the sole director of IpTronix. IpTronix currently has a team of 7 employees.
For the period ending December 31, 2023, Iptronix S.R.L. reported total revenue of €1 million, net income of €0.2 million, and net cash of €0.36 million. The transaction is expected to be finalized no later than December 31, 2024. Price Target Changed • Sep 20
Price target increased by 13% to €5.25 Up from €4.65, the current price target is an average from 2 analysts. New target price is 39% above last closing price of €3.78. Stock is up 95% over the past year.