New Risk • 5h
New major risk - Revenue and earnings growth Earnings have declined by 1.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.4% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Apr 27
Upcoming dividend of €0.43 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 06 May 2026. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Italian dividend payers (4.6%). Higher than average of industry peers (1.4%). Declared Dividend • Mar 20
Dividend of €0.43 announced Dividend of €0.43 is the same as last year. Ex-date: 4th May 2026 Payment date: 6th May 2026 Dividend yield will be 4.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 6.2% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 19
Gefran S.p.A. announces Annual dividend, payable on May 06, 2026 Gefran S.p.A. announced Annual dividend of EUR 0.4300 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026. Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: €0.69 (vs €0.79 in FY 2024) Full year 2025 results: EPS: €0.69 (down from €0.79 in FY 2024). Revenue: €141.2m (up 4.8% from FY 2024). Net income: €9.87m (down 11% from FY 2024). Profit margin: 7.0% (down from 8.3% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat. Announcement • Feb 24
Gefran S.p.A. (BIT:GE) acquired remaining 40% stake in C.Z. Elettronica Srl for €0.58 million. Gefran S.p.A. (BIT:GE) acquired remaining 40% stake in C.Z. Elettronica Srl for €0.58 million on February 23, 2026. The transaction was completed through the exercise in advance of the purchase option already included in the agreements with the sellers, allowing Gefran to acquire 100% of the shares of C.Z. Elettronica S.r.l. and to fully consolidate its control. Gefran paid the consideration in cash, using its own funds.
Gefran S.p.A. (BIT:GE) completed the acquisition of remaining 40% stake in C.Z. Elettronica Srl on February 23, 2026. Announcement • Nov 19
Gefran S.p.A. to Report Fiscal Year 2025 Results on Feb 12, 2026 Gefran S.p.A. announced that they will report fiscal year 2025 results at 10:00 AM, Central European Standard Time on Feb 12, 2026 Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: €0.15 (vs €0.21 in 3Q 2024) Third quarter 2025 results: EPS: €0.15 (down from €0.21 in 3Q 2024). Revenue: €33.5m (up 2.9% from 3Q 2024). Net income: €2.15m (down 27% from 3Q 2024). Profit margin: 6.4% (down from 9.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: €0.18 (vs €0.23 in 2Q 2024) Second quarter 2025 results: EPS: €0.18 (down from €0.23 in 2Q 2024). Revenue: €36.2m (up 3.9% from 2Q 2024). Net income: €2.53m (down 25% from 2Q 2024). Profit margin: 7.0% (down from 9.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 2% per year. Announcement • Aug 07
Gefran S.p.A. to Report Nine Months, 2025 Results on Nov 13, 2025 Gefran S.p.A. announced that they will report nine months, 2025 results on Nov 13, 2025 Announcement • Jul 07
Gefran S.p.A. to Report First Half, 2025 Results on Aug 05, 2025 Gefran S.p.A. announced that they will report first half, 2025 results on Aug 05, 2025 Reported Earnings • May 15
First quarter 2025 earnings released: EPS: €0.29 (vs €0.27 in 1Q 2024) First quarter 2025 results: EPS: €0.29 (up from €0.27 in 1Q 2024). Revenue: €36.8m (up 6.4% from 1Q 2024). Net income: €4.09m (up 7.3% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year. Announcement • May 01
Gefran S.p.A. to Report Q1, 2025 Results on May 13, 2025 Gefran S.p.A. announced that they will report Q1, 2025 results at 10:00 AM, Central European Standard Time on May 13, 2025 Upcoming Dividend • Apr 28
Upcoming dividend of €0.43 per share Eligible shareholders must have bought the stock before 05 May 2025. Payment date: 07 May 2025. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of Italian dividend payers (5.7%). Higher than average of industry peers (1.9%). Announcement • Mar 17
Gefran S.p.A., Annual General Meeting, Apr 29, 2025 Gefran S.p.A., Annual General Meeting, Apr 29, 2025, at 10:00 W. Europe Standard Time. Declared Dividend • Mar 16
Dividend increased to €0.43 Dividend of €0.43 is 2.4% higher than last year. Ex-date: 5th May 2025 Payment date: 7th May 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 9.6% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 14
Full year 2024 earnings released Full year 2024 results: Revenue: €134.8m (flat on FY 2023). Net income: €11.1m (down 4.4% from FY 2023). Profit margin: 8.3% (down from 8.6% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Announcement • Mar 14
Gefran S.p.A. announces Annual dividend, payable on May 07, 2025 Gefran S.p.A. announced Annual dividend of EUR 0.4300 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025. Buy Or Sell Opportunity • Feb 27
Now 20% undervalued Over the last 90 days, the stock has risen 5.4% to €9.80. The fair value is estimated to be €12.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.9% over the last 3 years. Earnings per share has declined by 2.8%. Announcement • Feb 14
Gefran S.p.A. to Report Fiscal Year 2024 Results on Mar 13, 2025 Gefran S.p.A. announced that they will report fiscal year 2024 results on Mar 13, 2025 Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: €0.21 (vs €0.15 in 3Q 2023) Third quarter 2024 results: EPS: €0.21 (up from €0.15 in 3Q 2023). Revenue: €32.6m (up 6.6% from 3Q 2023). Net income: €2.93m (up 39% from 3Q 2023). Profit margin: 9.0% (up from 6.9% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Aug 04
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €34.9m (down 2.8% from 2Q 2023). Net income: €3.36m (down 4.7% from 2Q 2023). Profit margin: 9.6% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: €0.27 (vs €0.27 in 1Q 2023) First quarter 2024 results: EPS: €0.27 (in line with 1Q 2023). Revenue: €34.6m (down 5.1% from 1Q 2023). Net income: €3.81m (down 2.2% from 1Q 2023). Profit margin: 11% (in line with 1Q 2023). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 1% per year. Declared Dividend • May 05
Dividend of €0.42 announced Shareholders will receive a dividend of €0.42. Ex-date: 6th May 2024 Payment date: 8th May 2024 Dividend yield will be 4.7%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 7.7% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 7.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 13
Full year 2023 earnings released Full year 2023 results: Revenue: €135.2m (flat on FY 2022). Net income: €11.9m (up 19% from FY 2022). Profit margin: 8.8% (up from 7.4% in FY 2022). Announcement • Feb 15
Gefran S.p.A. to Report Fiscal Year 2023 Final Results on Mar 12, 2024 Gefran S.p.A. announced that they will report fiscal year 2023 final results on Mar 12, 2024 Announcement • Nov 22
Gefran S.p.A. to Report Fiscal Year 2023 Results on Feb 14, 2024 Gefran S.p.A. announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • May 12
First quarter 2023 earnings released: EPS: €0.27 (vs €0.34 in 1Q 2022) First quarter 2023 results: EPS: €0.27 (down from €0.34 in 1Q 2022). Revenue: €36.5m (up 3.5% from 1Q 2022). Net income: €3.89m (down 20% from 1Q 2022). Profit margin: 11% (down from 14% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 27% per year. Upcoming Dividend • May 01
Upcoming dividend of €0.40 per share at 4.0% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Italian dividend payers (5.1%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 15
Full year 2022 earnings released Full year 2022 results: Revenue: €135.3m (down 16% from FY 2021). Net income: €9.99m (down 27% from FY 2021). Profit margin: 7.4% (down from 8.5% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Electronic industry in Italy. Over the last 3 years on average, earnings per share has increased by 39% per year and the company’s share price has also increased by 39% per year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: €0.22 (vs €0.18 in 3Q 2021) Third quarter 2022 results: EPS: €0.22 (up from €0.18 in 3Q 2021). Revenue: €31.8m (up 16% from 3Q 2021). Net income: €3.17m (up 25% from 3Q 2021). Profit margin: 10.0% (in line with 3Q 2021). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Italy. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Cristina Mollis was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: €0.23 (vs €0.18 in 3Q 2021) Third quarter 2022 results: EPS: €0.23 (up from €0.18 in 3Q 2021). Revenue: €32.4m (down 14% from 3Q 2021). Net income: €3.17m (up 25% from 3Q 2021). Profit margin: 9.8% (up from 6.7% in 3Q 2021). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electronic industry in Italy. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improved over the past week After last week's 17% share price gain to €8.89, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Electronic industry in Italy. Total returns to shareholders of 53% over the past three years. Reported Earnings • Sep 11
Second quarter 2022 earnings released: EPS: €0.097 (vs €0.30 in 2Q 2021) Second quarter 2022 results: EPS: €0.097 (down from €0.30 in 2Q 2021). Revenue: €34.4m (down 19% from 2Q 2021). Net income: €3.88m (down 11% from 2Q 2021). Profit margin: 11% (up from 10% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Italy. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 16% share price gain to €10.06, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 18x in the Electronic industry in Italy. Total returns to shareholders of 87% over the past three years. Upcoming Dividend • May 02
Upcoming dividend of €0.38 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Italian dividend payers (4.7%). Higher than average of industry peers (2.0%). Price Target Changed • Apr 27
Price target increased to €13.50 Up from €12.20, the current price target is provided by 1 analyst. New target price is 47% above last closing price of €9.20. Stock is up 17% over the past year. The company is forecast to post earnings per share of €0.78 for next year compared to €0.95 last 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 Cristina Mollis was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: €0.95 (up from €0.30 in FY 2020). Revenue: €161.6m (up 23% from FY 2020). Net income: €13.7m (up 215% from FY 2020). Profit margin: 8.5% (up from 3.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 1.5%, compared to a 10% growth forecast for the 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 only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 13
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: €0.95 (up from €0.30 in FY 2020). Revenue: €162.5m (up 24% from FY 2020). Net income: €13.7m (up 215% from FY 2020). Profit margin: 8.4% (up from 3.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to stay flat compared to a 11% growth forecast for the 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 only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €8.46, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Electronic industry in Italy. Total returns to shareholders of 15% over the past three years. Major Estimate Revision • Dec 02
Consensus EPS estimates increase to €0.81 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from €147.0m to €157.0m. EPS estimate increased from €0.70 to €0.81 per share. Net income forecast to shrink 8.2% next year vs 24% growth forecast for Electronic industry in Italy . Consensus price target up from €12.20 to €13.50. Share price rose 4.8% to €11.00 over the past week. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS €0.18 (vs €0.11 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €38.3m (up 22% from 3Q 2020). Net income: €2.53m (up 64% from 3Q 2020). Profit margin: 6.6% (up from 4.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 16% share price gain to €11.60, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 19x in the Electronic industry in Italy. Total returns to shareholders of 89% over the past three years. Upcoming Dividend • Oct 04
Upcoming dividend of €0.33 per share Eligible shareholders must have bought the stock before 11 October 2021. Payment date: 13 October 2021. Trailing yield: 2.6%. Lower than top quartile of Italian dividend payers (3.5%). Higher than average of industry peers (1.4%). Major Estimate Revision • Aug 13
Consensus EPS estimates increase to €0.70 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from €139.0m to €147.0m. EPS estimate increased from €0.50 to €0.70 per share. Net income forecast to shrink 6.9% next year vs 21% growth forecast for Electronic industry in Italy . Consensus price target up from €10.00 to €12.20. Share price rose 8.5% to €10.90 over the past week. Price Target Changed • Aug 09
Price target increased to €12.20 Up from €9.80, the current price target is provided by 1 analyst. New target price is 18% above last closing price of €10.30. Stock is up 112% over the past year. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS €0.30 (vs €0.074 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €42.3m (up 36% from 2Q 2020). Net income: €4.36m (up 311% from 2Q 2020). Profit margin: 10% (up from 3.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to €9.16, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 24x in the Electronic industry in Italy. Total returns to shareholders of 28% over the past three years. Upcoming Dividend • May 04
Upcoming dividend of €0.26 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 12 May 2021. Trailing yield: 3.4%. Lower than top quartile of Italian dividend payers (3.9%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 16
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €131.9m (down 7.6% from FY 2019). Net income: €4.35m (down 38% from FY 2019). Profit margin: 3.3% (down from 4.9% 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 13% per year whereas the company’s share price has fallen by 8% per year. Is New 90 Day High Low • Mar 13
New 90-day high: €6.72 The company is up 30% from its price of €5.15 on 11 December 2020. The Italian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 10.0% over the same period. Is New 90 Day High Low • Feb 11
New 90-day high: €6.39 The company is up 38% from its price of €4.63 on 12 November 2020. The Italian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 22% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: €5.47 The company is up 20% from its price of €4.55 on 16 September 2020. The Italian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: €5.24 The company is up 3.0% from its price of €5.08 on 19 August 2020. The Italian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 6.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS €0.11 The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: €31.7m (down 5.2% from 3Q 2019). Net income: €1.55m (down 5.2% from 3Q 2019). Profit margin: 4.9% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 29
New 90-day low: €4.02 The company is down 17% from its price of €4.82 on 30 July 2020. The Italian market is down 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 5.0% over the same period.