Price Target Changed • 21h
Price target decreased by 13% to €6.60 Down from €7.60, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €6.66. Stock is down 9.5% over the past year. The company is forecast to post earnings per share of €0.25 for next year compared to €0.25 last year. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 24% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 369% Cash payout ratio: 315% Earnings have declined by 24% per year over the past 5 years. Reported Earnings • May 24
First quarter 2026 earnings released: EPS: €0.061 (vs €0.065 in 1Q 2025) First quarter 2026 results: EPS: €0.061 (down from €0.065 in 1Q 2025). Revenue: €2.54m (down 2.5% from 1Q 2025). Net income: €1.55m (down 6.1% from 1Q 2025). Profit margin: 61% (down from 64% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 15
Upcoming dividend of €0.24 per share Eligible shareholders must have bought the stock before 22 April 2026. Payment date: 24 April 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 12%. Within top quartile of Portuguese dividend payers (4.8%). Higher than average of industry peers (3.4%). Announcement • Apr 11
Ramada Investimentos e Industria, S.A. announces Annual dividend, payable on April 24, 2026 Ramada Investimentos e Industria, S.A. announced Annual dividend of EUR 0.2400 per share payable on April 24, 2026, ex-date on April 22, 2026 and record date on April 23, 2026. Reported Earnings • Dec 01
Third quarter 2025 earnings released: EPS: €0.032 (vs €0.068 in 3Q 2024) Third quarter 2025 results: EPS: €0.032 (down from €0.068 in 3Q 2024). Revenue: €2.63m (up 1.0% from 3Q 2024). Net income: €823.2k (down 53% from 3Q 2024). Profit margin: 31% (down from 67% in 3Q 2024). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Oct 06
Second quarter 2025 earnings released: EPS: €0.076 (vs €0.051 in 2Q 2024) Second quarter 2025 results: EPS: €0.076 (up from €0.051 in 2Q 2024). Revenue: €3.18m (up 25% from 2Q 2024). Net income: €1.96m (up 48% from 2Q 2024). Profit margin: 62% (up from 52% in 2Q 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 2.2% decline forecast for the Real Estate industry in Europe. 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. Announcement • Oct 02
1 Thing, Investments SGPS, S.A. acquired Socitrel - Sociedade Industrial De Trefilaria, S.A. from Ramada Investimentos e Industria, S.A. (ENXTLS:RAM). 1 Thing, Investments SGPS, S.A. acquired Socitrel - Sociedade Industrial De Trefilaria, S.A. from Ramada Investimentos e Industria, S.A. (ENXTLS:RAM) on June 6, 2025. A cash consideration will be paid by 1 Thing, Investments SGPS, S.A. In a related transaction, 1 Thing, Investments, S.A. acquired Fisio Share – Gestão de Clínicas, S.A. as well. The total consideration for the deals were €23.75 million.
1 Thing, Investments SGPS, S.A. completed the acquisition of Socitrel - Sociedade Industrial De Trefilaria, S.A. from Ramada Investimentos e Industria, S.A. (ENXTLS:RAM) on June 6, 2025. Upcoming Dividend • Sep 25
Upcoming dividend of €0.65 per share Eligible shareholders must have bought the stock before 02 October 2025. Payment date: 06 October 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 10%. Within top quartile of Portuguese dividend payers (5.5%). Higher than average of industry peers (3.3%). Major Estimate Revision • Aug 05
Consensus EPS estimates increase by 43% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from €11.0m to €12.0m. EPS estimate increased from €0.28 to €0.40 per share. Net income forecast to grow 70% next year vs 19% growth forecast for Real Estate industry in Portugal. Consensus price target up from €7.00 to €7.60. Share price was steady at €7.40 over the past week. Price Target Changed • Aug 05
Price target increased by 12% to €7.60 Up from €6.80, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €7.40. Stock is up 12% over the past year. The company is forecast to post earnings per share of €0.40 for next year compared to €0.21 last year. Reported Earnings • Jul 02
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: EPS: €0.20 (up from €0.16 in FY 2023). Revenue: €10.3m (up 3.3% from FY 2023). Net income: €5.26m (up 30% from FY 2023). Profit margin: 51% (up from 41% in FY 2023). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Major Estimate Revision • Jul 02
Consensus revenue estimates increase by 10% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from €10.0m to €11.0m. EPS estimate increased from €0.27 to €0.28 per share. Net income forecast to grow 33% next year vs 28% growth forecast for Metals and Mining industry in Portugal. Consensus price target of €7.00 unchanged from last update. Share price was steady at €7.22 over the past week. Announcement • Apr 07
Ramada Investimentos e Industria, S.A., Annual General Meeting, Apr 28, 2025 Ramada Investimentos e Industria, S.A., Annual General Meeting, Apr 28, 2025. Location: rua manuel pinto de azevedo 818 4100 320, porto Portugal Reported Earnings • Mar 23
Full year 2024 earnings released: EPS: €0.20 (vs €0.41 in FY 2023) Full year 2024 results: EPS: €0.20 (down from €0.41 in FY 2023). Revenue: €10.3m (down 93% from FY 2023). Net income: €5.26m (down 50% from FY 2023). Profit margin: 51% (up from 7.4% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Major Estimate Revision • Nov 24
Consensus revenue estimates decrease by 93%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €139.0m to €10.0m. EPS estimate increased from €0.38 to €1.07 per share. Net income forecast to grow 54% next year vs 31% growth forecast for Metals and Mining industry in Portugal. Consensus price target up from €6.60 to €6.80. Share price was steady at €7.08 over the past week. New Risk • Nov 22
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 34% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 138% Cash payout ratio: 121% Earnings are forecast to decline by an average of 34% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (7.6% net profit margin). New Risk • Oct 06
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: 7.6% Last year net profit margin: 14% 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: 138% Cash payout ratio: 121% Minor Risk Profit margins are more than 30% lower than last year (7.6% net profit margin). Announcement • May 30
1 Thing, Investments SGPS, S.A. completed the acquisition of F. Ramada Aços e Indústrias S.A. from Ramada Investimentos e Industria, S.A. (ENXTLS:RAM). 1 Thing, Investments SGPS, S.A. entered into an agreement to acquire F. Ramada Aços e Indústrias S.A. from Ramada Investimentos e Industria, S.A. (ENXTLS:RAM) on May 10, 2024. Ramada Investimentos e Industria board approved the deal. The transaction may be subject to prior notification to the Competition Authority. The transaction is expected to complete during first half of 2024.1 Thing, Investments SGPS, S.A. completed the acquisition of F. Ramada Aços e Indústrias S.A. from Ramada Investimentos e Industria, S.A. (ENXTLS:RAM) on May 29, 2024. Reported Earnings • May 26
First quarter 2024 earnings released: EPS: €0.075 (vs €0.13 in 1Q 2023) First quarter 2024 results: EPS: €0.075 (down from €0.13 in 1Q 2023). Revenue: €36.1m (down 12% from 1Q 2023). Net income: €1.92m (down 44% from 1Q 2023). Profit margin: 5.3% (down from 8.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 1% per year. Declared Dividend • May 15
Dividend of €0.58 announced Shareholders will receive a dividend of €0.58. Ex-date: 21st May 2024 Payment date: 23rd May 2024 Dividend yield will be 8.0%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is not covered by earnings (143% earnings payout ratio). However, it is covered by cash flows (79% cash payout ratio). The dividend has increased by an average of 17% 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 59% to bring the payout ratio under control. EPS is expected to grow by 16% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Apr 12
Ramada Investimentos e Industria, S.A., Annual General Meeting, May 03, 2024 Ramada Investimentos e Industria, S.A., Annual General Meeting, May 03, 2024, at 10:00 Coordinated Universal Time. Location: Rua Manuel Pinto de Azevedo, 818 Oporto Portugal Agenda: To discuss and decide on the Company's financial statements for the year 2023, including the separate and consolidated accounts and respective annexes, the Corporate Governance Report (which includes the Remuneration Report), the Management Report and the Sustainability Report (which includes the Non-Financial Information Report), and other corporate information and supervisory and audit documents; to decide on the proposed appropriation of the net profit for the year ended 31st of December 2023 and, additionally, on the distribution of dividends in cash; to assess the management and audit of the Company in accordance with the article 455 of the Portuguese Commercial Companies Code; to deliberate on the granting of authorisation to the Board of Directors for the acquisition and sale of treasury shares to the legal limit of 10%; and to deliberate on the granting of authorisation to the Board of Directors for the acquisition and sale of own bonds to the legal limit of 10%. Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: €0.41 (vs €0.78 in FY 2022) Full year 2023 results: EPS: €0.41 (down from €0.78 in FY 2022). Revenue: €141.2m (down 27% from FY 2022). Net income: €10.4m (down 48% from FY 2022). Profit margin: 7.4% (down from 10% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Mar 20
Ramada Investimentos e Industria, S.A. to Report Fiscal Year 2023 Results on Mar 21, 2024 Ramada Investimentos e Industria, S.A. announced that they will report fiscal year 2023 results on Mar 21, 2024 Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: €0.078 (vs €0.24 in 3Q 2022) Third quarter 2023 results: EPS: €0.078 (down from €0.24 in 3Q 2022). Revenue: €31.8m (down 33% from 3Q 2022). Net income: €1.99m (down 68% from 3Q 2022). Profit margin: 6.3% (down from 13% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 24% per year. Major Estimate Revision • Oct 12
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €151.0m to €142.0m. EPS estimate also fell from €0.50 per share to €0.36 per share. Net income forecast to shrink 38% next year vs 5.0% decline forecast for Metals and Mining industry in Portugal. Consensus price target broadly unchanged at €6.60. Share price was steady at €6.30 over the past week. New Risk • Oct 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 136% Cash payout ratio: 197% Earnings are forecast to decline by an average of 3.1% per year for the foreseeable future. Reported Earnings • Oct 02
Second quarter 2023 earnings released: EPS: €0.08 (vs €0.20 in 2Q 2022) Second quarter 2023 results: EPS: €0.08 (down from €0.20 in 2Q 2022). Revenue: €38.2m (down 34% from 2Q 2022). Net income: €1.99m (down 61% from 2Q 2022). Profit margin: 5.2% (down from 8.7% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 4.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 28
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €38.2m (down 34% from 2Q 2022). Net income: €1.99m (down 61% from 2Q 2022). Profit margin: 5.2% (down from 8.7% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 4.1% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 23
Price target decreased by 7.1% to €6.50 Down from €7.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €6.72. Stock is up 3.1% over the past year. The company is forecast to post earnings per share of €0.50 for next year compared to €0.78 last year. Announcement • May 19
Ramada Investimentos e Industria, S.A. to Report Q1, 2023 Results on May 25, 2023 Ramada Investimentos e Industria, S.A. announced that they will report Q1, 2023 results on May 25, 2023 Upcoming Dividend • May 10
Upcoming dividend of €0.82 per share at 11% yield Eligible shareholders must have bought the stock before 17 May 2023. Payment date: 19 May 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 11%. Within top quartile of Portuguese dividend payers (6.9%). Higher than average of industry peers (8.6%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: €0.78 (vs €0.59 in FY 2021) Full year 2022 results: EPS: €0.78 (up from €0.59 in FY 2021). Revenue: €194.5m (up 35% from FY 2021). Net income: €20.0m (up 33% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue is expected to fall by 11% p.a. on average during the next 3 years compared to a 1.4% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 02
Third quarter 2022 earnings released: EPS: €0.24 (vs €0.15 in 3Q 2021) Third quarter 2022 results: EPS: €0.24 (up from €0.15 in 3Q 2021). Revenue: €47.1m (up 30% from 3Q 2021). Net income: €6.12m (up 56% from 3Q 2021). Profit margin: 13% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 14% p.a. on average during the next 3 years compared to a 3.0% decline forecast for the Metals and Mining industry in Europe. 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 5% 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 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Laurentina da Silva Martins 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. Major Estimate Revision • Oct 15
Consensus revenue estimates increase by 31% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from €172.0m to €225.0m. EPS estimate increased from €0.55 to €0.77 per share. Net income forecast to shrink 15% next year vs 22% decline forecast for Metals and Mining industry in Portugal. Consensus price target down from €7.00 to €6.80. Share price was steady at €6.96 over the past week. Reported Earnings • Oct 03
Second quarter 2022 earnings released: EPS: €0.20 (vs €0.13 in 2Q 2021) Second quarter 2022 results: EPS: €0.20 (up from €0.13 in 2Q 2021). Revenue: €58.0m (up 70% from 2Q 2021). Net income: €5.06m (up 53% from 2Q 2021). Profit margin: 8.7% (down from 9.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 13% p.a. on average during the next 3 years compared to a 3.3% decline forecast for the Metals and Mining industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 31
Second quarter 2022 earnings released: EPS: €0.20 (vs €0.13 in 2Q 2021) Second quarter 2022 results: EPS: €0.20 (up from €0.13 in 2Q 2021). Revenue: €58.0m (up 70% from 2Q 2021). Net income: €5.06m (up 53% from 2Q 2021). Profit margin: 8.7% (down from 9.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 17% compared to a 25% growth forecast for the industry in Portugal. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jun 01
Consensus revenue estimates increase by 32% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from €130.0m to €172.0m. EPS estimate increased from €0.32 to €0.55 per share. Net income forecast to shrink 7.2% next year vs 1.1% decline forecast for Metals and Mining industry in Portugal. Consensus price target broadly unchanged at €7.00. Share price was steady at €6.58 over the past week. Price Target Changed • May 30
Price target increased to €7.00 Up from €6.50, the current price target is provided by 1 analyst. New target price is 6.1% above last closing price of €6.60. Stock is up 4.4% over the past year. The company is forecast to post earnings per share of €0.32 for next year compared to €0.59 last year. Reported Earnings • May 29
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: €0.19 (up from €0.11 in 1Q 2021). Revenue: €54.1m (up 68% from 1Q 2021). Net income: €4.95m (up 73% from 1Q 2021). Profit margin: 9.1% (up from 8.9% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 34%. Over the next year, revenue is expected to shrink by 21% compared to a 37% growth forecast for the industry in Portugal. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 25
Ramada Investimentos e Industria, S.A. to Report Q1, 2022 Results on May 27, 2022 Ramada Investimentos e Industria, S.A. announced that they will report Q1, 2022 results on May 27, 2022 Upcoming Dividend • May 11
Upcoming dividend of €0.60 per share Eligible shareholders must have bought the stock before 18 May 2022. Payment date: 20 May 2022. The company is paying out more than 100% of its profits and is paying out 95% of its cash flow. Trailing yield: 8.3%. Within top quartile of Portuguese dividend payers (6.3%). In line with average of industry peers (8.3%). 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. 5 non-independent directors. Independent Non-Executive Director Laurentina da Silva Martins 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. Announcement • Apr 08
Ramada Investimentos e Industria, S.A., Annual General Meeting, Apr 29, 2022 Ramada Investimentos e Industria, S.A., Annual General Meeting, Apr 29, 2022, at 10:00 Coordinated Universal Time. Location: Rua Manuel Pinto de Azevedo, 818 Oporto Portugal Agenda: To consider the Company's individual and consolidated Annual Report and accounts, Corporate Governance Report, Remuneration Report, the Sustainability Report, non-financial statements, for the year ended 31st of December 2021; to consider appropriation of the 2021's net profit; to consider voting the Statutory Auditor for the 2022 mandate; and to consider similar matters. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: €0.59 (up from €0.27 in FY 2020). Revenue: €144.9m (up 40% from FY 2020). Net income: €15.1m (up 116% from FY 2020). Profit margin: 10% (up from 6.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 10% compared to a 30% growth forecast for the mining industry in Portugal. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Feb 16
Ramada Investimentos e Industria, S.A. to Report Fiscal Year 2021 Results on Mar 17, 2022 Ramada Investimentos e Industria, S.A. announced that they will report fiscal year 2021 results on Mar 17, 2022 Reported Earnings • Nov 19
Third quarter 2021 earnings released: EPS €0.15 (vs €0.07 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €36.2m (up 41% from 3Q 2020). Net income: €3.93m (up 116% from 3Q 2020). Profit margin: 11% (up from 7.1% 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 2% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 05
Second quarter 2021 earnings released: EPS €0.13 (vs €0.05 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €34.1m (up 50% from 2Q 2020). Net income: €3.31m (up 176% from 2Q 2020). Profit margin: 9.7% (up from 5.3% 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 51% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 31
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €34.1m (up 50% from 2Q 2020). Net income: €3.31m (up 176% from 2Q 2020). Profit margin: 9.7% (up from 5.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Jul 29
Consensus EPS estimates increase to €0.39 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from €118.0m to €122.0m. EPS estimate increased from €0.28 to €0.39 per share. Net income forecast to grow 12% next year vs 58% growth forecast for Metals and Mining industry in Portugal. Consensus price target broadly unchanged at €6.60. Share price rose 3.4% to €6.00 over the past week. Reported Earnings • May 22
First quarter 2021 earnings released: EPS €0.11 (vs €0.052 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €32.3m (up 22% from 1Q 2020). Net income: €2.86m (up 114% from 1Q 2020). Profit margin: 8.9% (up from 5.0% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Upcoming Dividend • May 12
Upcoming dividend of €0.60 per share Eligible shareholders must have bought the stock before 18 May 2021. Payment date: 20 May 2021. Trailing yield: 8.1%. Within top quartile of Portuguese dividend payers (5.9%). Higher than average of industry peers (4.2%). Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improved over the past week After last week's 17% share price gain to €6.90, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total loss to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improved over the past week After last week's 16% share price gain to €5.70, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 9x in the Metals and Mining industry in Europe. Total loss to shareholders of 32% over the past three years. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS €0.27 (vs €0.32 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €103.3m (down 10% from FY 2019). Net income: €6.99m (down 14% from FY 2019). Profit margin: 6.8% (down from 7.1% 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 84% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Announcement • Feb 18
Ramada Investimentos e Industria, S.A. to Report Fiscal Year 2020 Final Results on Mar 18, 2021 Ramada Investimentos e Industria, S.A. announced that they will report fiscal year 2020 final results on Mar 18, 2021 Major Estimate Revision • Feb 12
Analysts lower revenue estimates to €98.0m The 2020 consensus revenue estimate decreased from €112.0m. Earning per share (EPS) estimate was also lowered from €0.28 to €0.22 for the same period. Net income is expected to shrink by 22% next year compared to 93% growth forecast for the Metals and Mining industry in Portugal . The consensus price target was lowered from €6.70 to €6.00. Share price is up 8.5% to €5.10 over the past week. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improved over the past week After last week's 21% share price gain to €4.62, the stock is trading at a trailing P/E ratio of 17.5x, up from the previous P/E ratio of 14.5x. This compares to an average P/E of 13x in the Metals and Mining industry in Europe. Total return to shareholders over the past three years is a loss of 36%. Is New 90 Day High Low • Dec 11
New 90-day high: €4.20 The company is up 28% from its price of €3.28 on 11 September 2020. The Portuguese market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 17% over the same period. Analyst Estimate Surprise Post Earnings • Dec 01
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 100%. Earnings per share (EPS) exceeded analyst estimates by 6.7%. Over the next year, revenue is forecast to grow 9.0%, compared to a 8.6% growth forecast for the Metals and Mining industry in Portugal. Reported Earnings • Nov 28
Third quarter 2020 earnings released: EPS €0.07 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €25.6m (down 7.0% from 3Q 2019). Net income: €1.82m (down 8.1% from 3Q 2019). Profit margin: 7.1% (down from 7.2% in 3Q 2019). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 85% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 25
New 90-day high: €3.66 The company is up 1.0% from its price of €3.61 on 27 August 2020. The Portuguese market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 9.0% over the same period. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS €0.071 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €25.6m (down 7.0% from 3Q 2019). Net income: €1.82m (down 8.1% from 3Q 2019). Profit margin: 7.1% (down from 7.2% in 3Q 2019). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 85% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Announcement • Nov 19
Ramada Investimentos e Industria, S.A. to Report Q3, 2020 Results on Nov 19, 2020 Ramada Investimentos e Industria, S.A. announced that they will report Q3, 2020 results on Nov 19, 2020 Is New 90 Day High Low • Oct 29
New 90-day low: €2.90 The company is down 7.0% from its price of €3.13 on 30 July 2020. The Portuguese market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 3.0% over the same period. Is New 90 Day High Low • Oct 12
New 90-day low: €2.98 The company is down 13% from its price of €3.42 on 14 July 2020. The Portuguese market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 6.0% over the same period. Reported Earnings • Oct 02
First half earnings released Over the last 12 months the company has reported total profits of €6.92m, down 21% from the prior year. Total revenue was €104.7m over the last 12 months, down 12% from the prior year. Is New 90 Day High Low • Sep 23
New 90-day low: €3.10 The company is down 24% from its price of €4.06 on 25 June 2020. The Portuguese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 10.0% over the same period. Announcement • Jun 20
Ramada Investimentos e Industria, S.A. to Report First Half, 2020 Results on Sep 10, 2020 Ramada Investimentos e Industria, S.A. announced that they will report first half, 2020 results on Sep 10, 2020 
