Announcement • Jun 02
Vrancart S.A. to Report First Half, 2026 Results on Aug 19, 2026 Vrancart S.A. announced that they will report first half, 2026 results on Aug 19, 2026 Announcement • Jun 01
Vrancart S.A. to Report Q3, 2026 Results on Nov 17, 2026 Vrancart S.A. announced that they will report Q3, 2026 results on Nov 17, 2026 Reported Earnings • May 19
First quarter 2026 earnings released First quarter 2026 results: Revenue: RON92.7m (down 15% from 1Q 2025). Net income: RON1.77m (up RON3.00m from 1Q 2025). Profit margin: 1.9% (up from net loss in 1Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • May 16
Vrancart S.A. to Report Q1, 2026 Results on May 15, 2026 Vrancart S.A. announced that they will report Q1, 2026 results on May 15, 2026 Announcement • Mar 23
Vrancart S.A., Annual General Meeting, May 29, 2026 Vrancart S.A., Annual General Meeting, May 29, 2026. Reported Earnings • Mar 03
Full year 2025 earnings released: RON0.017 loss per share (vs RON0.01 loss in FY 2024) Full year 2025 results: RON0.017 loss per share (further deteriorated from RON0.01 loss in FY 2024). Revenue: RON422.4m (down 13% from FY 2024). Net loss: RON33.6m (loss widened 84% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 20
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: RON110.4m (down 14% from 3Q 2024). Net loss: RON6.80m (loss widened 40% from 3Q 2024). New Risk • Aug 18
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 Romanian stocks, typically moving 7.5% 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 Risks Debt is not well covered by operating cash flow (8.3% operating cash flow to total debt). Earnings have declined by 49% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (RON237.2m market cap, or US$54.8m). Reported Earnings • Aug 16
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: RON106.8m (down 11% from 2Q 2024). Net loss: RON10.8m (loss widened 117% from 2Q 2024). Reported Earnings • May 20
First quarter 2025 earnings released First quarter 2025 results: Revenue: RON112.6m (down 5.5% from 1Q 2024). Net loss: RON1.23m (loss narrowed 71% from 1Q 2024). New Risk • May 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% 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 Earnings have declined by 38% per year over the past 5 years. Minor Risks High level of debt (74% net debt to equity). Shareholders have been diluted in the past year (19% increase in shares outstanding). Market cap is less than US$100m (RON207.0m market cap, or US$46.3m). Reported Earnings • Nov 17
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: RON143.2m (up 16% from 3Q 2023). Net loss: RON4.85m (down RON5.96m from profit in 3Q 2023). Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: RON128.9m (down 2.3% from 2Q 2023). Net loss: RON4.98m (down 183% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • May 17
First quarter 2024 earnings released First quarter 2024 results: Revenue: RON121.8m (down 13% from 1Q 2023). Net loss: RON4.29m (down 244% from profit in 1Q 2023). New Risk • Mar 03
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Earnings have declined by 3.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.1% net profit margin). Market cap is less than US$100m (RON277.4m market cap, or US$60.5m). New Risk • Nov 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 64% This is considered a major 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 Risks Earnings have declined by 2.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Minor Risks High level of debt (60% net debt to equity). Dividend is not well covered by cash flows (141% cash payout ratio). Market cap is less than US$100m (RON272.3m market cap, or US$59.7m). Reported Earnings • Nov 17
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: RON141.3m (down 4.0% from 3Q 2022). Net income: RON1.11m (up RON3.25m from 3Q 2022). Profit margin: 0.8% (up from net loss in 3Q 2022). The move to profitability was driven by lower expenses. Upcoming Dividend • Sep 05
Upcoming dividend of RON0.01 per share at 5.9% yield Eligible shareholders must have bought the stock before 12 September 2023. Payment date: 03 October 2023. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of Romanian dividend payers (8.6%). Higher than average of industry peers (3.5%). Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: RON145.5m (down 7.7% from 2Q 2022). Net income: RON6.01m (down 22% from 2Q 2022). Profit margin: 4.1% (down from 4.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Reported Earnings • May 21
First quarter 2023 earnings released First quarter 2023 results: Revenue: RON140.9m (down 10% from 1Q 2022). Net income: RON2.98m (down 26% from 1Q 2022). Profit margin: 2.1% (down from 2.6% in 1Q 2022). The decrease in margin was driven by lower revenue. Reported Earnings • Nov 17
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: RON154.7m (up 30% from 3Q 2021). Net loss: RON2.14m (down 310% from profit in 3Q 2021). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Member of the Board of Administrators El Rachid was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 18
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: RON161.7m (up 59% from 2Q 2021). Net income: RON7.71m (up 137% from 2Q 2021). Profit margin: 4.8% (up from 3.2% in 2Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • May 18
First quarter 2022 earnings released First quarter 2022 results: Revenue: RON159.1m (up 59% from 1Q 2021). Net income: RON4.04m (down 27% from 1Q 2021). Profit margin: 2.5% (down from 5.5% in 1Q 2021). The decrease in margin was driven by higher expenses. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Member of the Board of Administrators El Rachid was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 03
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: RON103.1m (up 39% from 2Q 2020). Net income: RON3.25m (up 139% from 2Q 2020). Profit margin: 3.2% (up from 1.8% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 19
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: RON100.8m (up 8.4% from 1Q 2020). Net income: RON5.53m (up 78% from 1Q 2020). Profit margin: 5.5% (up from 3.3% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS RON0.016 (vs RON0.022 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: RON354.2m (down 2.2% from FY 2019). Net income: RON16.1m (down 31% from FY 2019). Profit margin: 4.5% (down from 6.4% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings.