Reported Earnings • May 17
First quarter 2026 earnings released: EPS: €0.20 (vs €0.75 in 1Q 2025) First quarter 2026 results: EPS: €0.20 (down from €0.75 in 1Q 2025). Revenue: €1.53b (flat on 1Q 2025). Net income: €8.26m (down 73% from 1Q 2025). Profit margin: 0.5% (down from 2.0% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 31% per year. Announcement • Apr 21
Petrol d.d., Annual General Meeting, May 21, 2026 Petrol d.d., Annual General Meeting, May 21, 2026, at 12:00 Central European Standard Time. Declared Dividend • Apr 12
Dividend increased to €2.50 Dividend of €2.50 is 19% higher than last year. Ex-date: 29th July 2026 Payment date: 31st July 2026 Dividend yield will be 4.8%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (79% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Price Target Changed • Apr 07
Price target increased by 14% to €53.70 Up from €47.10, the current price target is an average from 2 analysts. New target price is 5.3% above last closing price of €51.00. Stock is up 29% over the past year. The company posted earnings per share of €4.23 last year. Reported Earnings • Apr 04
Full year 2025 earnings released: EPS: €4.23 (vs €3.37 in FY 2024) Full year 2025 results: EPS: €4.23 (up from €3.37 in FY 2024). Revenue: €6.14b (flat on FY 2024). Net income: €174.0m (up 26% from FY 2024). Profit margin: 2.8% (up from 2.3% in FY 2024). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 24
Third quarter 2025 earnings released: EPS: €1.47 (vs €1.66 in 3Q 2024) Third quarter 2025 results: EPS: €1.47 (down from €1.66 in 3Q 2024). Revenue: €1.55b (down 1.8% from 3Q 2024). Net income: €60.6m (down 11% from 3Q 2024). Profit margin: 3.9% (down from 4.3% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Europe are expected to grow by 5.6%. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Nov 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.8% to €46.70. The fair value is estimated to be €59.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has grown by 58%. New Risk • Sep 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 Slovenian stocks, typically moving 3.5% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: €1.08 (vs €0.81 in 2Q 2024) Second quarter 2025 results: EPS: €1.08 (up from €0.81 in 2Q 2024). Revenue: €1.46b (down 1.2% from 2Q 2024). Net income: €44.2m (up 32% from 2Q 2024). Profit margin: 3.0% (up from 2.3% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.5% growth forecast for the Specialty Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 23
Upcoming dividend of €2.10 per share Eligible shareholders must have bought the stock before 30 July 2025. Payment date: 01 August 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Slovenian dividend payers (4.2%). Lower than average of industry peers (3.9%). Buy Or Sell Opportunity • Jun 19
Now 20% undervalued Over the last 90 days, the stock has risen 18% to €48.50. The fair value is estimated to be €60.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.3% over the last 3 years. Earnings per share has grown by 39%. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: €0.75 (vs €0.39 in 1Q 2024) First quarter 2025 results: EPS: €0.75 (up from €0.39 in 1Q 2024). Revenue: €1.53b (up 3.9% from 1Q 2024). Net income: €30.9m (up 94% from 1Q 2024). Profit margin: 2.0% (up from 1.1% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Specialty Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Apr 14
Petrol d.d., Annual General Meeting, May 27, 2025 Petrol d.d., Annual General Meeting, May 27, 2025, at 12:00 Central European Standard Time. Location: dunajska cesta 48, ljubljana Slovenia Declared Dividend • Apr 14
Dividend increased to €2.10 Dividend of €2.10 is 17% higher than last year. Ex-date: 30th July 2025 Payment date: 1st August 2025 Dividend yield will be 5.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (47% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 6.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 13
Petrol d.d. announces Annual dividend, payable on August 01, 2025 Petrol d.d. announced Annual dividend of EUR 2.1000 per share payable on August 01, 2025, ex-date on July 30, 2025 and record date on July 31, 2025. Reported Earnings • Mar 20
Full year 2024 earnings released: EPS: €3.37 (vs €3.29 in FY 2023) Full year 2024 results: EPS: €3.37 (up from €3.29 in FY 2023). Revenue: €6.11b (down 13% from FY 2023). Net income: €138.4m (up 2.3% from FY 2023). Profit margin: 2.3% (up from 1.9% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.0% growth forecast for the Specialty Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Jan 18
Petrol d.d. to Report Fiscal Year 2024 Final Results on Apr 10, 2025 Petrol d.d. announced that they will report fiscal year 2024 final results at 11:00 AM, Central European Standard Time on Apr 10, 2025 Announcement • Jan 02
Petrol d.d. to Report Fiscal Year 2024 Results on Mar 14, 2025 Petrol d.d. announced that they will report fiscal year 2024 results at 11:00 AM, Central European Standard Time on Mar 14, 2025 New Risk • Nov 29
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 Slovenian stocks, typically moving 2.8% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: €1.66 (vs €1.03 in 3Q 2023) Third quarter 2024 results: EPS: €1.66 (up from €1.03 in 3Q 2023). Revenue: €1.58b (down 12% from 3Q 2023). Net income: €68.4m (up 62% from 3Q 2023). Profit margin: 4.3% (up from 2.4% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 11% per year. Announcement • Nov 08
Petrol d.d. acquired additional 22.3% stake in Geoplin Petrol d.d. agreed to acquire 22.3% additional stake in Geoplin on November 8, 2024. Petrol's stake in gas supplier Geoplin has thus increased to 99.35% stake.
Petrol d.d. completed acquisition of additional 22.3% stake in Geoplin on November 8, 2024. Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: €0.81 (vs €0.68 in 2Q 2023) Second quarter 2024 results: EPS: €0.81 (up from €0.68 in 2Q 2023). Revenue: €1.48b (down 8.2% from 2Q 2023). Net income: €33.4m (up 19% from 2Q 2023). Profit margin: 2.3% (up from 1.7% in 2Q 2023). The increase in margin was driven by lower 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 8% per year. New Risk • Jul 31
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 Slovenian stocks, typically moving 3.3% 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 Earnings have declined by 3.9% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (3.3% average weekly change). Upcoming Dividend • Jul 24
Upcoming dividend of €1.80 per share Eligible shareholders must have bought the stock before 31 July 2024. Payment date: 02 August 2024. Payout ratio is a comfortable 59% and this is well supported by cash flows. Trailing yield: 5.8%. Lower than top quartile of Slovenian dividend payers (6.0%). Higher than average of industry peers (3.5%). Reported Earnings • Apr 24
Full year 2023 earnings released: EPS: €3.29 (vs €0.11 in FY 2022) Full year 2023 results: EPS: €3.29 (up from €0.11 in FY 2022). Revenue: €6.98b (down 26% from FY 2022). Net income: €135.4m (up €130.8m from FY 2022). Profit margin: 1.9% (up from 0% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: €3.29 (vs €0.11 in FY 2022) Full year 2023 results: EPS: €3.29 (up from €0.11 in FY 2022). Revenue: €6.98b (down 26% from FY 2022). Net income: €135.4m (up €130.8m from FY 2022). Profit margin: 1.9% (up from 0% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. New Risk • Feb 12
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 Slovenian stocks, typically moving 2.9% 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 Earnings have declined by 12% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (2.9% average weekly change). Announcement • Dec 23
Petrol d.d., Annual General Meeting, Apr 19, 2024 Petrol d.d., Annual General Meeting, Apr 19, 2024. Agenda: To consider and discuss the Annual Report for 2023 and the distributable profit allocation. Announcement • Dec 19
Petrol Announces Board Changes Petrol has appointed Metod Podkriznik and Drago Kavsek as board members. Petrol's supervisory board unanimously adopted a resolution on appointing the two board members, on a proposal by management board president Saso Berger, for a five-year term of office, the energy group said in a bourse filing last week. Podkriznik is set to commence duties on Petrol's management board from January 1, 2024, focusing on overseeing B2B and B2G sales, whereas Kavsek, who will handle finance, information, and risk-related matters, will officially assume the role starting February 1, 2024. With the appointments, Petrol's management board will revert to its composition of six members, the company noted. Earlier this month, Petrol's board member Matija Bitenc resigned to focus on his role as general manager of wholesale natural gas supplier Geoplin. The function of Bitenc as board member of Petrol ended on December 8, but he will remain with the company until January 4, 2024, to hand over his duties and responsibilities, Petrol said back then. Announcement • Dec 12
Petrol Announces Resignation of Matija Biten as Board Member Petrol's board member Matija Biten has resigned to focus on his role as general manager of wholesale natural gas supplier Geoplin. Petrol's supervisory board accepted the resignation of Bitenc who took up the board member function in March 2020 and was responsible for finance, accounting, treasury, business intelligence, controlling, risk management and back office. The function of Bilenc as board member of Petrol ended on December 8, 2023, but he will remain with the company until January 4, 2024, to hand over his duties and responsibilities. Announcement • Nov 24
Petrol D.D. Announces Executive Changes Petrol's supervisory board has appointed Saso Berger as CEO to replace Nada Drobne Popovic whose contract was terminated early. Berger, who was a management board member, was appointed as the new CEO and will step into the role on November 23, 2023. Popovic, who assumed the role in October 2019, will conclude her term ahead of schedule through mutual agreement. She will remain with Petrol until the end of 2023 to facilitate the transition. New Risk • Aug 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x 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 (1.3x net interest cover). Earnings have declined by 12% per year over the past 5 years. Minor Risk Dividend is not well covered by earnings (98% payout ratio). Upcoming Dividend • Jul 26
Upcoming dividend of €1.50 per share at 6.0% yield Eligible shareholders must have bought the stock before 02 August 2023. Payment date: 04 August 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.0%. Lower than top quartile of Slovenian dividend payers (8.1%). Higher than average of industry peers (3.5%). Announcement • Jul 23
Petrol Announces Board Changes Petrol has appointed two management board members for a full five-year term. Petrol's supervisory board unanimously appointed Saso Berger and Marko Nincevic as management board members. Berger, a university graduate in economics, will join Petrol's Management Board on September 15, 2023 and Nincevic, a university graduate in economics with an MBA degree, will join on September 1, 2023. At the same time, management board member Joze Bajuk, who was responsible for the Energy, Solutions, Logistics,and Operations, has resigned. The management board of Petrol will have six members as of September 15, 2023. Reported Earnings • Mar 18
Full year 2022 earnings released: EPS: €0.11 (vs €2.90 in FY 2021) Full year 2022 results: EPS: €0.11 (down from €2.90 in FY 2021). Revenue: €9.46b (up 91% from FY 2021). Net income: €4.52m (down 96% from FY 2021). Profit margin: 0% (down from 2.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Jan 10
Petrol d.d. to Report Fiscal Year 2022 Results on Apr 14, 2023 Petrol d.d. announced that they will report fiscal year 2022 results at 11:00 AM, Central European Standard Time on Apr 14, 2023 Reported Earnings • Dec 06
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €2.86b (up 132% from 3Q 2021). Net income: €24.6m (down 38% from 3Q 2021). Profit margin: 0.9% (down from 3.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 26% p.a. on average during the next 2 years, while revenues in the Specialty Retail industry in Europe are expected to grow by 4.9%. 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 4% per year. Price Target Changed • Nov 16
Price target increased to €30.70 Up from €20.20, the current price target is provided by 1 analyst. New target price is 40% above last closing price of €21.90. Stock is down 2.7% over the past year. The company posted earnings per share of €2.90 last year. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improved over the past week After last week's 16% share price gain to €434, the stock trades at a trailing P/E ratio of 13.3x. Average forward P/E is 11x in the Specialty Retail industry in Europe. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €355, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 9x in the Specialty Retail industry in Europe. Total returns to shareholders of 23% over the past three years. Upcoming Dividend • Jul 27
Upcoming dividend of €30.00 per share Eligible shareholders must have bought the stock before 03 August 2022. Payment date: 05 August 2022. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 6.0%. Lower than top quartile of Slovenian dividend payers (7.4%). Higher than average of industry peers (4.1%). Reported Earnings • May 22
First quarter 2022 earnings released: EPS: €14.18 (vs €12.49 in 1Q 2021) First quarter 2022 results: EPS: €14.18 (up from €12.49 in 1Q 2021). Revenue: €1.94b (up 112% from 1Q 2021). Net income: €29.1m (up 14% from 1Q 2021). Profit margin: 1.5% (down from 2.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 9.9% compared to a 7.6% growth forecast for the industry in Europe. 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 14% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target increased to €538 Up from €404, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of €536. Stock is up 34% over the past year. The company posted earnings per share of €57.93 last year. Reported Earnings • Nov 21
Third quarter 2021 earnings released: EPS €19.45 (vs €9.95 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €1.23b (up 63% from 3Q 2020). Net income: €40.0m (up 96% from 3Q 2020). Profit margin: 3.2% (up from 2.7% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • Sep 03
Second quarter 2021 earnings released: EPS €11.49 (vs €0.93 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €928.3m (up 51% from 2Q 2020). Net income: €21.2m (up €23.1m from 2Q 2020). Profit margin: 2.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 28
Upcoming dividend of €22.00 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 06 August 2021. Trailing yield: 4.9%. Lower than top quartile of Slovenian dividend payers (5.2%). Higher than average of industry peers (2.3%). Announcement • Jul 02
Petrol d.d. (LJSE:PETG) completed the acquisition of Crodux derivati dva d.o.o. from Ivan Cermak. Petrol d.d. (LJSE:PETG) agreed to acquire Crodux derivati dva d.o.o. from Ivan Cermak on January 12, 2021. As a result of taking over Crodux derivati dva d.o.o., Petrol d.d. will acquire 91 service stations. The transaction will be completed following the fulfilment of suspensive conditions, which include obtaining approvals from the relevant competition authorities. As on June 30, 2021, the Croatian Competition Agency allowed the concentration arising from Petrol's takeover of Crodux derivati dva.
Petrol d.d. (LJSE:PETG) completed the acquisition of Crodux derivati dva d.o.o. from Ivan Cermak on June 30, 2021. Reported Earnings • May 24
First quarter 2021 earnings released: EPS €12.49 (vs €9.99 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: €911.9m (flat on 1Q 2020). Net income: €25.7m (up 25% from 1Q 2020). Profit margin: 2.8% (up from 2.2% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Price Target Changed • Apr 07
Price target increased to €446 Up from €404, the current price target is an average from 2 analysts. New target price is 19% above last closing price of €375. Stock is up 25% over the past year. Reported Earnings • Mar 21
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: €3.08b (down 30% from FY 2019). Net income: €69.0m (down 32% from FY 2019). Profit margin: 2.2% (down from 2.3% in FY 2019). The decrease in margin was driven by lower revenue. 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. Is New 90 Day High Low • Feb 20
New 90-day high: €348 The company is up 11% from its price of €314 on 20 November 2020. The Slovenian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 28
New 90-day high: €340 The company is up 13% from its price of €302 on 30 October 2020. The Slovenian market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 08
New 90-day high: €334 The company is up 3.0% from its price of €324 on 09 October 2020. The Slovenian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 8.0% over the same period. Announcement • Jan 06
Petrol d.d. (LJSE:PETG) completed the acquisition of E 3, D.O.O. from Elektro Primorska D.D. Petrol d.d. (LJSE:PETG) won an auction to acquire E 3, D.O.O. from Elektro Primorska D.D. on February 18, 2020. Petrol d.d. (LJSE:PETG) signed an agreement to acquire E 3, D.O.O. from Elektro Primorska D.D. on February 26, 2020. Petrol was selected as the most favorable bidder for the purchase of E3 and proceeds with negotiations for the above-mentioned purchase. The sale and purchase agreement is expected to be signed by the end of February 2020. Petrol d.d., Ljubljana intends to continue developing the business of E 3, d.o.o., and to retain the existing jobs. The transaction is subject to customary closing conditions, including obtaining consent from the Public Agency of the Republic of Slovenia for the Protection of Competition.
Petrol d.d. (LJSE:PETG) completed the acquisition of E 3, D.O.O. from Elektro Primorska D.D. on January 5, 2021. Reported Earnings • Nov 25
Third quarter 2020 earnings released: EPS €9.95 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €758.7m (down 34% from 3Q 2019). Net income: €20.5m (down 48% from 3Q 2019). Profit margin: 2.7% (down from 3.4% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. 