Announcement • Apr 28
City Cars S.A., Annual General Meeting, Jun 02, 2026 City Cars S.A., Annual General Meeting, Jun 02, 2026, at 09:00 W. Central Africa Standard Time. Location: 31 rue des usines z i kheireddine la goulette, tunis Tunisia Major Estimate Revision • Sep 14
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from د.ت381.0m to د.ت387.0m. EPS estimate increased from د.ت1.64 to د.ت1.86 per share. Net income forecast to shrink 6.1% next year vs 15% growth forecast for Specialty Retail industry in Tunisia . Consensus price target up from د.ت18.50 to د.ت22.60. Share price rose 11% to د.ت20.90 over the past week. Reported Earnings • Sep 08
First half 2025 earnings released First half 2025 results: Net income: د.ت17.3m (up د.ت17.3m from 1H 2024). Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Specialty Retail industry in Africa are expected to grow by 7.3%. Price Target Changed • Jul 01
Price target increased by 8.2% to د.ت18.50 Up from د.ت17.10, the current price target is provided by 1 analyst. New target price is 11% above last closing price of د.ت16.74. Stock is up 26% over the past year. The company is forecast to post earnings per share of د.ت1.64 for next year compared to د.ت1.65 last year. Declared Dividend • Jul 01
Dividend of د.ت1.25 announced Dividend of د.ت1.25 is the same as last year. Ex-date: 4th July 2025 Payment date: 8th July 2025 Dividend yield will be 7.5%, which is higher than the industry average of 2.5%. Sustainability & Growth The dividend has increased by an average of 11% per year over the past 4 years and payments have been stable during that time. Price Target Changed • Apr 22
Price target decreased by 8.6% to د.ت17.10 Down from د.ت18.70, the current price target is provided by 1 analyst. New target price is 6.9% above last closing price of د.ت16.00. Stock is up 21% over the past year. The company is forecast to post earnings per share of د.ت1.34 for next year compared to د.ت1.77 last year. Price Target Changed • Jan 03
Price target decreased by 9.6% to د.ت16.90 Down from د.ت18.70, the current price target is provided by 1 analyst. New target price is 32% above last closing price of د.ت12.79. Stock is up 3.6% over the past year. The company is forecast to post earnings per share of د.ت1.34 for next year compared to د.ت1.77 last year. New Risk • Dec 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 Risk High level of non-cash earnings (141% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (د.ت230.4m market cap, or US$73.3m). Price Target Changed • Dec 06
Price target decreased by 9.6% to د.ت16.90 Down from د.ت18.70, the current price target is provided by 1 analyst. New target price is 31% above last closing price of د.ت12.89. Stock is up 5.7% over the past year. The company is forecast to post earnings per share of د.ت1.34 for next year compared to د.ت1.77 last year. Major Estimate Revision • Sep 22
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from د.ت397.0m to د.ت340.0m. EPS estimate fell from د.ت1.84 to د.ت1.34 per share. Net income forecast to shrink 24% next year vs 12% growth forecast for Specialty Retail industry in Tunisia . Consensus price target down from د.ت18.70 to د.ت16.90. Share price was steady at د.ت12.49 over the past week. Price Target Changed • Sep 20
Price target decreased by 10% to د.ت16.90 Down from د.ت18.80, the current price target is provided by 1 analyst. New target price is 36% above last closing price of د.ت12.46. Stock is down 0.2% over the past year. The company is forecast to post earnings per share of د.ت1.34 for next year compared to د.ت1.77 last year. Price Target Changed • May 29
Price target increased by 7.4% to د.ت18.80 Up from د.ت17.50, the current price target is provided by 1 analyst. New target price is 42% above last closing price of د.ت13.25. Stock is down 2.3% over the past year. Announcement • May 25
City Cars S.A., Annual General Meeting, Jun 24, 2024 City Cars S.A., Annual General Meeting, Jun 24, 2024, at 09:00 W. Central Africa Standard Time. Location: 31 rue des usines z i kheireddine la goulette, tunis Tunisia Reported Earnings • May 22
Full year 2023 earnings: Revenues miss analyst expectations Full year 2023 results: Revenue: د.ت375.2m (up 9.3% from FY 2022). Net income: د.ت31.7m (up 4.6% from FY 2022). Profit margin: 8.5% (down from 8.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.3%. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Specialty Retail industry in Africa. New Risk • May 21
New major risk - Revenue and earnings growth Revenue has declined by 0.2% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Revenue has declined by 0.2% over the past year. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (د.ت243.0m market cap, or US$78.1m). Buy Or Sell Opportunity • Apr 25
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 8.6% to د.ت13.45. The fair value is estimated to be د.ت11.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 8.7%. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Buy Or Sell Opportunity • Feb 28
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 7.7% to د.ت13.45. The fair value is estimated to be د.ت11.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last year. Earnings per share has declined by 8.7%. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. New Risk • Dec 30
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: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (د.ت223.3m market cap, or US$72.8m). Major Estimate Revision • Sep 14
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from د.ت319.0m to د.ت343.0m. EPS estimate increased from د.ت1.54 to د.ت1.71 per share. Net income forecast to grow 1.6% next year vs 1.2% decline forecast for Specialty Retail industry in Tunisia. Consensus price target broadly unchanged at د.ت17.90. Share price rose 4.5% to د.ت12.69 over the past week. Major Estimate Revision • Jun 20
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from د.ت349.0m to د.ت319.0m. EPS estimate also fell from د.ت1.72 per share to د.ت1.54 per share. Net income forecast to shrink 8.7% next year vs 3.3% decline forecast for Specialty Retail industry in Tunisia. Consensus price target up from د.ت14.00 to د.ت17.10. Share price fell 2.9% to د.ت13.40 over the past week. Reported Earnings • Jun 17
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: د.ت343.3m (flat on FY 2021). Net income: د.ت30.3m (down 9.1% from FY 2021). Profit margin: 8.8% (in line with FY 2021). Revenue was in line with analyst estimates. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Specialty Retail industry in Africa. Price Target Changed • Apr 06
Price target decreased by 8.5% to د.ت14.00 Down from د.ت15.30, the current price target is provided by 1 analyst. New target price is 17% above last closing price of د.ت11.99. Stock is down 3.1% over the past year. The company is forecast to post earnings per share of د.ت1.61 for next year compared to د.ت1.86 last year. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorated over the past week After last week's 17% share price decline to د.ت10.00, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Specialty Retail industry in Africa. Total returns to shareholders of 78% over the past three years. Price Target Changed • Jul 01
Price target decreased to د.ت15.10 Down from د.ت17.30, the current price target is provided by 1 analyst. New target price is 22% above last closing price of د.ت12.39. Stock is up 9.1% over the past year. The company is forecast to post earnings per share of د.ت1.61 for next year compared to د.ت1.86 last year. Reported Earnings • May 30
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: د.ت344.0m (up 45% from FY 2020). Net income: د.ت33.4m (up 59% from FY 2020). Profit margin: 9.7% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.4%, compared to a 5.5% growth forecast for the retail industry in Tunisia. Price Target Changed • Dec 09
Price target decreased to د.ت13.00 Down from د.ت14.90, the current price target is provided by 1 analyst. New target price is 19% above last closing price of د.ت10.88. Stock is up 36% over the past year. The company is forecast to post earnings per share of د.ت1.24 for next year compared to د.ت1.17 last year. Price Target Changed • Jun 18
Price target increased to د.ت14.90 Up from د.ت11.10, the current price target is provided by 1 analyst. New target price is 35% above last closing price of د.ت11.00. Stock is up 48% over the past year. Major Estimate Revision • Jun 18
Consensus revenue estimates increase to د.ت272.0m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from د.ت228.0m to د.ت272.0m. EPS estimate increased from د.ت0.94 to د.ت1.24 per share. Net income forecast to shrink 20% next year vs 12% growth forecast for Specialty Retail industry in Tunisia . Consensus price target up from د.ت8.27 to د.ت11.10. Share price was steady at د.ت11.00 over the past week. Is New 90 Day High Low • Feb 06
New 90-day high: د.ت9.09 The company is up 20% from its price of د.ت7.60 on 06 November 2020. The Tunisian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 23% over the same period. Is New 90 Day High Low • Jan 22
New 90-day high: د.ت8.65 The company is up 14% from its price of د.ت7.60 on 23 October 2020. The Tunisian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Specialty Retail industry, which is also up 14% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: د.ت8.45 The company is up 18% from its price of د.ت7.15 on 06 October 2020. The Tunisian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 19% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: د.ت7.77 The company is up 2.0% from its price of د.ت7.60 on 21 August 2020. The Tunisian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 28% over the same period. Is New 90 Day High Low • Oct 23
New 90-day high: د.ت7.69 The company is up 3.0% from its price of د.ت7.50 on 24 July 2020. The Tunisian market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Specialty Retail industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 02
New 90-day low: د.ت6.99 The company is down 6.0% from its price of د.ت7.43 on 03 July 2020. The Tunisian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 4.0% over the same period.