New Risk • May 28
New major risk - Revenue and earnings growth Earnings have declined by 19% 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 19% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€21.6m market cap, or US$25.2m). New Risk • Apr 19
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). Market cap is less than US$100m (€21.2m market cap, or US$25.0m). New Risk • Feb 02
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 Dutch 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: Minor Risks Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (€23.3m market cap, or US$27.5m). Reported Earnings • Oct 05
First half 2025 earnings released: €0.02 loss per share (vs €0.06 profit in 1H 2024) First half 2025 results: €0.02 loss per share (down from €0.06 profit in 1H 2024). Revenue: €21.5m (up 3.5% from 1H 2024). Net loss: €371.0k (down 145% from profit in 1H 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 66% 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 Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€22.6m market cap, or US$26.2m). Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €1.60, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 21x in the Building industry in Europe. Total returns to shareholders of 108% over the past three years. New Risk • Jun 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 Dutch stocks, typically moving 8.3% 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 Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (€23.5m market cap, or US$26.7m). Reported Earnings • May 30
Full year 2024 earnings released Full year 2024 results: Revenue: €39.1m (up 14% from FY 2023). Net income: €642.0k (up €766.0k from FY 2023). Profit margin: 1.6% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. New Risk • Apr 19
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 Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€20.3m market cap, or US$23.2m). New Risk • Feb 16
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 Dutch stocks, typically moving 5.1% 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 Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.1% average weekly change). Market cap is less than US$100m (€20.5m market cap, or US$21.5m). New Risk • Dec 27
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 Dutch 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 Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Market cap is less than US$100m (€19.0m market cap, or US$19.8m). New Risk • Jul 30
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 Dutch stocks, typically moving 5.0% 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: Minor Risks Share price has been volatile over the past 3 months (5.0% average weekly change). Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (€18.6m market cap, or US$20.1m). 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 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 Risks Debt is not well covered by operating cash flow (2.1% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (€20.5m market cap, or US$21.8m). Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to €1.41, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 14x in the Building industry in Europe. Total returns to shareholders of 11% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 64% After last week's 64% share price gain to €1.12, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 15x in the Building industry in Europe. Total returns to shareholders of 60% over the past three years. New Risk • Oct 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 36% 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 Debt is not well covered by operating cash flow (2.1% operating cash flow to total debt). Minor Risks Shareholders have been diluted in the past year (36% increase in shares outstanding). Market cap is less than US$100m (€10.2m market cap, or US$10.7m). New Risk • Oct 27
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 2.1% 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 (2.1% operating cash flow to total debt). Market cap is less than US$10m (€7.50m market cap, or US$7.94m). New Risk • Oct 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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 (€7.66m market cap, or US$8.11m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 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 • Jun 09
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 Dutch stocks, typically moving 8.6% 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 (8.6% average weekly change). Market cap is less than US$10m (€7.01m market cap, or US$7.54m). 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 • Mar 27
Full year 2022 earnings released Full year 2022 results: Revenue: €8.08m (up 21% from FY 2021). Net income: €137.0k (down 59% from FY 2021). Profit margin: 1.7% (down from 5.0% in FY 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Sep 18
First half 2022 earnings released: EPS: €0 (vs €0.012 in 1H 2021) First half 2022 results: EPS: €0 (down from €0.012 in 1H 2021). Revenue: €3.79m (up 18% from 1H 2021). Net income: €68.0k (down 50% from 1H 2021). Profit margin: 1.8% (down from 4.2% in 1H 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 23
Full year 2021 earnings released Full year 2021 results: Revenue: €6.66m (up 61% from FY 2020). Net income: €332.0k (up 92% from FY 2020). Profit margin: 5.0% (up from 4.2% in FY 2020). The increase in margin was driven by higher revenue. Reported Earnings • Sep 21
First half 2021 earnings released: EPS €0.012 (vs €0.003 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €3.22m (up 98% from 1H 2020). Net income: €135.0k (up 297% from 1H 2020). Profit margin: 4.2% (up from 2.1% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 19% share price gain to €1.12, the stock trades at a trailing P/E ratio of 69.8x. Average trailing P/E is 23x in the Building industry in Europe. Total loss to shareholders of 23% over the past three years. Reported Earnings • May 04
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €4.13m (up 78% from FY 2019). Net income: €173.0k (up 188% from FY 2019). Profit margin: 4.2% (up from 2.6% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Jan 09
New 90-day high: €1.46 The company is up 265% from its price of €0.40 on 09 October 2020. The Dutch market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 6.0% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: €0.69 The company is up 73% from its price of €0.40 on 18 September 2020. The Dutch market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 3.0% over the same period. Is New 90 Day High Low • Nov 03
New 90-day high: €0.44 The company is up 4.0% from its price of €0.42 on 05 August 2020. The Dutch market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Building industry, which is up 6.0% over the same period. Is New 90 Day High Low • Oct 02
New 90-day low: €0.39 The company is down 9.0% from its price of €0.42 on 03 July 2020. The Dutch market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 14% over the same period. Reported Earnings • Sep 29
First half earnings released Over the last 12 months the company has reported total profits of €87.0k, down 2.1% from the prior year. Total revenue was €2.78m over the last 12 months, up 41% from the prior year. Announcement • Jul 30
Alumexx N.V. (ENXTAM:ALX) acquired DVLvanLoon BV from Frank van Loon Alumexx N.V. (ENXTAM:ALX) agreed to acquire DVLvanLoon BV from Frank van Loon on April 2020. Under the terms of the transaction, Alumexx will issue 0.25 million shares and €0.05 million as consideration. Pursuant to this, Alumexx will receive €0.09 million euros from DVLvanLoon for the balance of stocks and debts with creditors. Upon completion, Frank van Loon will remain as commercial manager and will work for Alumexx for the next five years.
Alumexx N.V. (ENXTAM:ALX) completed the acquisition of DVLvanLoon BV from Frank van Loon on June 15, 2020.