Reported Earnings • May 21
First quarter 2026 earnings released: EPS: €0.066 (vs €0.081 in 1Q 2025) First quarter 2026 results: EPS: €0.066. Revenue: €540.0m (up 9.8% from 1Q 2025). Net income: €185.0m (flat on 1Q 2025). Profit margin: 34% (down from 37% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in Europe. Tillkännagivande • Apr 09
Alpha Bank S.A. (ATSE:ALPHA) intends to launch a voluntary tender offer to acquire 30.39% stake in Alpha Trust Holdings S.A. (ATSE:ATRUST) for €19.3 million. Alpha Bank S.A. (ATSE:ALPHA) intends to launch a voluntary tender offer to acquire 30.39% stake in Alpha Trust Holdings S.A. (ATSE:ATRUST) for €19.3 million on April 7, 2026. The consideration of €20.2 in cash per share will be paid by Alpha Bank S.A. In related transaction, Alpha Bank entered into definitive share purchase agreements with certain shareholders of Alpha Trust for acquisition of 69.61% stake. Following completion of the Transaction and tender offer, Alpha Trust’s wealth management activities are expected to be integrated into Alpha Bank’s Private Banking division, further strengthening Alpha Bank’s client coverage capabilities and supporting the delivery of a comprehensive range of wealth management services to high net worth and institutional clients both within Greece and abroad.
As part of the Transaction, Alpha Trust’s senior management, including its Founder and its CEO, are expected to remain engaged with the Bank in long-term leadership roles, ensuring continuity, supporting the integration and active involvement in the development and implementation by the Group of its asset management and wealth management local and international business strategy. Following the completion of the Tender Offer and provided that the Offeror and the Persons acting in Concert hold in aggregate Shares corresponding to at least 90% of the total number of voting rights in the Company, the Offeror shall exercise its squeeze - out rights.
The transaction is subject to approval by regulatory board / committee and minimum tender. The transaction is expected to complete by end of second quarter of 2026. Axia Ventures Group Ltd. acted as financial advisor to Alpha Bank S.A. Q.A.S. Certified Auditors Accountants LTD acted as accountant to Alpha Bank S.A. Tillkännagivande • Jan 22
Alpha Bank S.A., Annual General Meeting, Jun 26, 2026 Alpha Bank S.A., Annual General Meeting, Jun 26, 2026. Buy Or Sell Opportunity • Aug 27
Now 23% undervalued Over the last 90 days, the stock has risen 17% to €3.51. The fair value is estimated to be €4.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Tillkännagivande • Aug 12
Alpha Bank Reportedly Embarks on Risk Transfer Transaction Alpha Bank S.A. (ATSE:ALPHA) has launched a risk transfer transaction. Italian bank, UniCredit (UCG.MI) will advise Alpha Bank on the EUR 1.2 billion risk transfer. The move will lead to the Greek bank selling a significant risk transfer transaction tied to a EUR 1.2 billion portfolio of corporate loans. UniCredit recently increased its stake in the Greek bank to around 20%. Tillkännagivande • Jul 23
Vista Bank (România) S.A. completed the acquisition of Alpha Leasing Romania IFN from Alpha Services and Holdings S.A. (ATSE:ALPHA). Vista Bank (România) S.A. agreed to acquire Alpha Leasing Romania IFN from Alpha Services and Holdings S.A. (ATSE:ALPHA) on March 3, 2025.
The transaction is expected to be completed in the second quarter of 2025 and is subject to approval by the competent authorities.
Nadia Badea, Loredana Ralea, Radu Costin and Gabriel Toma of Badea Clifford Chance acted as legal advisor for Alpha Services and Holdings S.A. PWC acted as an accountant in the transaction. David & Baias acted as legal advisor in the transaction.
Vista Bank (România) S.A. completed the acquisition of Alpha Leasing Romania IFN from Alpha Services and Holdings S.A. (ATSE:ALPHA) on July 21, 2025. Tillkännagivande • May 17
Alpha Services and Holdings S.A. announces Annual dividend, payable on May 29, 2025 Alpha Services and Holdings S.A. announced Annual dividend of EUR 0.0300 per share payable on May 29, 2025, ex-date on May 23, 2025 and record date on May 26, 2025. Tillkännagivande • Dec 19
Alpha Services and Holdings S.A., Annual General Meeting, Jul 25, 2025 Alpha Services and Holdings S.A., Annual General Meeting, Jul 25, 2025. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: €0.054 (vs €0.066 in 3Q 2023) Third quarter 2024 results: EPS: €0.054 (down from €0.066 in 3Q 2023). Revenue: €529.4m (up 3.0% from 3Q 2023). Net income: €124.5m (down 20% from 3Q 2023). Profit margin: 24% (down from 30% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: €0.036 (vs €0.072 in 2Q 2023) Second quarter 2024 results: EPS: €0.036 (down from €0.072 in 2Q 2023). Revenue: €518.0m (up 1.6% from 2Q 2023). Net income: €84.8m (down 50% from 2Q 2023). Profit margin: 16% (down from 33% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 19
Inaugural dividend of €0.026 per share Eligible shareholders must have bought the stock before 26 July 2024. Payment date: 01 August 2024. This is the first dividend for Alpha Services and Holdings since going public. The average dividend yield among industry peers is 6.3%. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: €0.087 (vs €0.047 in 1Q 2023) First quarter 2024 results: EPS: €0.087 (up from €0.047 in 1Q 2023). Revenue: €497.1m (up 22% from 1Q 2023). Net income: €204.3m (up 84% from 1Q 2023). Profit margin: 41% (up from 27% in 1Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 10
Full year 2023 earnings released: EPS: €0.36 (vs €0.16 in FY 2022) Full year 2023 results: EPS: €0.36 (up from €0.16 in FY 2022). Revenue: €1.80b (up 8.9% from FY 2022). Net income: €697.5m (up 83% from FY 2022). Profit margin: 39% (up from 23% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jan 11
Alpha Services and Holdings S.A. to Report First Half, 2024 Results on Aug 02, 2024 Alpha Services and Holdings S.A. announced that they will report first half, 2024 results on Aug 02, 2024 Buying Opportunity • Dec 20
Now 22% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be €1.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.2% per annum. Earnings is also forecast to grow by 7.0% per annum over the same time period. Reported Earnings • Nov 06
Third quarter 2023 earnings released: EPS: €0.089 (vs €0.035 in 3Q 2022) Third quarter 2023 results: EPS: €0.089 (up from €0.035 in 3Q 2022). Revenue: €510.8m (up 22% from 3Q 2022). Net income: €208.1m (up 153% from 3Q 2022). Profit margin: 41% (up from 20% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.41, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 216% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.48 per share. New Risk • Oct 25
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 German stocks, typically moving 9.5% 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. This is currently the only risk that has been identified for the company. New Risk • Aug 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% 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: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: €0.082 (vs €0.049 in 2Q 2022) Second quarter 2023 results: EPS: €0.082 (up from €0.049 in 2Q 2022). Revenue: €504.2m (up 189% from 2Q 2022). Net income: €191.4m (up 68% from 2Q 2022). Profit margin: 38% (down from 65% in 2Q 2022). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Aug 08
Now 22% undervalued Over the last 90 days, the stock is up 32%. The fair value is estimated to be €1.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 30% in 2 years. Earnings is forecast to grow by 72% in the next 2 years. New Risk • Aug 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 German stocks, typically moving 6.9% 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. This is currently the only risk that has been identified for the company. Buying Opportunity • Jul 24
Now 20% undervalued Over the last 90 days, the stock is up 38%. The fair value is estimated to be €1.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 30% in 2 years. Earnings is forecast to grow by 69% in the next 2 years. Buying Opportunity • Jun 23
Now 22% undervalued Over the last 90 days, the stock is up 37%. The fair value is estimated to be €1.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 28% in 2 years. Earnings is forecast to grow by 57% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.60, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 153% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.94 per share. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €1.40, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 141% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.91 per share. Reported Earnings • May 09
First quarter 2023 earnings released: EPS: €0.047 (vs €0.052 in 1Q 2022) First quarter 2023 results: EPS: €0.047 (down from €0.052 in 1Q 2022). Revenue: €414.2m (up 1.4% from 1Q 2022). Net income: €111.1m (down 8.5% from 1Q 2022). Profit margin: 27% (down from 30% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Reported Earnings • Mar 17
Full year 2022 earnings released: EPS: €0.072 (vs €1.49 loss in FY 2021) Full year 2022 results: EPS: €0.072 (up from €1.49 loss in FY 2021). Net income: €168.8m (up €3.04b from FY 2021). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Buying Opportunity • Mar 07
Now 21% undervalued Over the last 90 days, the stock is up 38%. The fair value is estimated to be €1.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 60% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: €0.035 (vs €0.075 loss in 3Q 2021) Third quarter 2022 results: EPS: €0.035 (up from €0.075 loss in 3Q 2021). Revenue: €455.5m (up €455.1m from 3Q 2021). Net income: €82.3m (up €253.5m from 3Q 2021). Profit margin: 18% (up from net loss in 3Q 2021). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Tillkännagivande • Nov 01
Alpha Services and Holdings S.A. to Report Nine Months, 2022 Results on Nov 08, 2022 Alpha Services and Holdings S.A. announced that they will report nine months, 2022 results on Nov 08, 2022 Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: €0.049 (vs €1.32 loss in 2Q 2021) Second quarter 2022 results: EPS: €0.049 (up from €1.32 loss in 2Q 2021). Net income: €114.0m (up €2.16b from 2Q 2021). Over the next year, revenue is forecast to grow 179%, compared to a 16% growth forecast for the Banks industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 07
Alpha Services and Holdings S.A. to Report First Half, 2022 Results on Aug 02, 2022 Alpha Services and Holdings S.A. announced that they will report first half, 2022 results on Aug 02, 2022 Tillkännagivande • Jul 02
Alpha Services and Holdings S.A., Annual General Meeting, Jul 22, 2022 Alpha Services and Holdings S.A., Annual General Meeting, Jul 22, 2022, at 10:00 E. Europe Standard Time. Agenda: To consider approval of the annual separate and consolidated financial statements of the financial year 2021, together with the relevant reports of the Board of Directors which are accompanied by the Statutory Certified Auditors' Report; to consider approval of the netting-off of the retained earnings / (losses) against the statutory reserve and the special reserve of article 31 of law 4548/2018; to consider approval, as per article 108 of law 4548/2018, of the overall management for the financial year 2021 and discharge of the Statutory Certified Auditors for the financial year 2021, in accordance with article 117 of law 4548/2018; to consider election of Statutory Certified Auditors for the financial year 2022 and approval of their remuneration; and to consider other matters. Tillkännagivande • May 05
Alpha Services and Holdings S.A. to Report Q1, 2022 Results on May 26, 2022 Alpha Services and Holdings S.A. announced that they will report Q1, 2022 results on May 26, 2022 Tillkännagivande • Feb 18
Alpha Services and Holdings S.A. to Report Fiscal Year 2021 Results on Mar 14, 2022 Alpha Services and Holdings S.A. announced that they will report fiscal year 2021 results at 3:20 PM, Coordinated Universal Time on Mar 14, 2022 Reported Earnings • Aug 28
Second quarter 2021 earnings released: €1.32 loss per share (vs €0.063 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: €392.6m (up 17% from 2Q 2020). Net loss: €2.04b (down €2.14b from profit in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jun 23
Davidson Kempner European Partners, LLP completed the acquisition of Galaxy NPL of Alpha Bank A.E. and Cepal Hellas Financial Services S.A. from Alpha Bank A.E. Davidson Kempner European Partners, LLP agreed to acquire Galaxy NPL of Alpha Bank A.E. and Cepal Hellas Financial Services S.A. from Alpha Bank A.E. on November 23, 2020. Davidson Kempner European Partners, LLP entered into a definitive agreement to acquire 51% stake in the Mezzanine and Junior securitization notes of the Galaxy NPL of Alpha Bank A.E. and 80% stake in Cepal Hellas Financial Services S.A. from Alpha Bank A.E. on February 22, 2021. As regards the remaining 49%, Alpha Bank S.A. will retain 5% of the Mezzanine and Junior securitization notes, to comply with risk retention rules, while Alpha Services and Holdings S.A. intends to distribute 44% of the remaining Mezzanine and Junior securitization notes to its shareholders. The agreement values 100% of the enterprise value of New Cepal at €267 million and the consideration includes an earn-out of up to €68 million and the contingent element of up to €17 million, if the transaction is on a levered basis. The consideration for Galaxy NPL is payable in cash, at an aggregate valuation for 100% of those notes of €40 million. Galaxy NPL of Alpha Bank A.E. is €10.8 billion portfolio. Alpha Bank, acting as an arranger of a financing syndicate, has agreed with Davidson Kemper the key terms of a long term funding facility of up to €120 million, which may be drawn at the sole discretion of Davidson Kempner. Davidson Kempner European Partners, LLP was selected as preferred bidder for the transaction. Post completion, Artemios Theodoridis and Theodore Athanassopoulos will continue managing New Cepal in their positions of Executive Chairman and Chief Executive Officer, respectively. Transaction completion and closing following receipt of all regulatory approvals are expected to take place towards the end of the first quarter of next year. As of February 22, 2021, the transaction is expected to close in the second quarter of 2021. Deutsche Bank acted as financial advisor to Alpha Bank. Alantra Corporate Portfolio Advisors International Limited, Axia Ventures Group Ltd., Citigroup Global Markets Limited and PricewaterhouseCoopers Business Solutions S.A. acted as Financial Advisers for Alpha Bank. Citigroup Global Markets Limited also acted as fairness opinion provider to Alpha Bank. Allen & Overy LLP and White & Case advised Alpha Bank on international legal matters and Zepos & Yannopoulos and PotamitisVekris advised Alpha Bank on Greek law matters. UBS acted as financial advisor to Davidson Kempner.
Davidson Kempner European Partners, LLP completed the acquisition of Galaxy NPL of Alpha Bank A.E. and Cepal Hellas Financial Services S.A. from Alpha Bank A.E. on June 22, 2021. As per closing, The agreement values 100% of the enterprise value of New Cepal at €262 million, including a contingent element of €11 million if the transaction is on a levered basis and an earn-out of up to €68 million linked to the achievement of certain targets. Alpha Bank, acting as an arranger of a financing syndicate, has agreed with Davidson Kemper the key terms of a long term funding facility of up to €105 million. As a result, the implied equity value of 80% of new CEPAL stands at €120 million approximately, including the contingent element above, and represents the price for the sale of the respective shares. An amount of €48 million will be paid within 18 months. Reported Earnings • May 26
First quarter 2021 earnings released: €0.18 loss per share (vs €0.007 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: €159.9m (down 36% from 1Q 2020). Net loss: €282.2m (loss widened €271.3m from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improved over the past week After last week's 16% share price gain to €1.22, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 11x in the Banks industry in Europe. Total loss to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.92 per share. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improved over the past week After last week's 15% share price gain to €1.09, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 11x in the Banks industry in Europe. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.84 per share. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS €0.067 (vs €0.068 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: €1.27b (down 5.3% from FY 2019). Net income: €103.7m (down 1.5% from FY 2019). Profit margin: 8.1% (up from 7.8% in FY 2019). The increase in margin was driven by lower expenses. Non-performing loans: 32.11% (down from 33.80% in FY 2019). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Tillkännagivande • Mar 11
Alpha Bank A.E. to Report Fiscal Year 2020 Results on Mar 23, 2021 Alpha Bank A.E. announced that they will report fiscal year 2020 results at 5:20 PM, E. Europe Standard Time on Mar 23, 2021 Tillkännagivande • Jan 13
LLC Silvinit-Transport and OOO Silvinit-Capital acquired Geo NPK LLC from Alpha Bank A.E. (ATSE:ALPHA). LLC Silvinit-Transport and OOO Silvinit-Capital acquired Geo NPK LLC from Alpha Bank A.E. (ATSE:ALPHA) on December 31, 2020.
LLC Silvinit-Transport and OOO Silvinit-Capital completed the acquisition of Geo NPK LLC from Alpha Bank A.E. (ATSE:ALPHA) on December 31, 2020. Is New 90 Day High Low • Dec 05
New 90-day high: €0.83 The company is up 46% from its price of €0.57 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.40 per share. Reported Earnings • Nov 26
Third quarter 2020 earnings released: EPS €0.028 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €346.9m (up 15% from 3Q 2019). Net income: €43.8m (up €39.0m from 3Q 2019). Profit margin: 13% (up from 1.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Tillkännagivande • Nov 24
Davidson Kempner European Partners, LLP agreed to acquire Galaxy NPL of Alpha Bank A.E. and Cepal Hellas Financial Services S.A. from Alpha Bank A.E. Davidson Kempner European Partners, LLP agreed to acquire Galaxy NPL of Alpha Bank A.E. and Cepal Hellas Financial Services S.A. from Alpha Bank A.E. on November 23, 2020. Galaxy NPL of Alpha Bank A.E. is €10.8 billion portfolio. Davidson Kempner European Partners, LLP selected as preferred bidder for the transaction. Tillkännagivande • Nov 21
Alpha Bank Reportedly Picks Davidson Kempner as Preferred Bidder for $12 Billion Galaxy Bad Loans Alpha Bank A.E. (ATSE:ALPHA) has selected U.S. investment fund Davidson Kempner Capital Management LP as its preferred bidder to buy a $12 billion portfolio of non-performing loans in what will be Greece's largest-ever sale of bad debt, sources told Reuters. The portfolio, known as Galaxy Project and worth €10.8 billion ($12.81 billion), also includes the disposal of Alpha’s bad loan servicing unit, Cepal. Davidson Kempner has valued the assets at about €290 million, trumping a rival offer by U.S. investment giant Pacific Investment Management Company LLC (PIMCO), one of the sources said. Alpha Bank declined to comment while Davidson Kempner and PIMCO were not immediately available. The sale, which is expected to be finalised by the end of 2020, is the most significant attempt by a Greek bank to clean up its balance sheet amid fears that the proportion of soured loans to businesses and individuals will surge as a consequence of the COVID-19 crisis. The sale of the Galaxy portfolio is expected to reduce Alpha’s non-performing exposure (NPE) ratio to 24% from around 43% and its non-performing loan (NPL) ratio down to 13% from 30%, a banking source familiar with the deal said. Alpha launched the process early this year, drawing initial interest from a series of bidders including Italian firms Cerved CERV.MI and Credito Fondiario, the sources said. But only Davidson Kempner and PIMCO made binding offers and advanced to the final stages of the auction, with Alpha’s board selecting Davidson Kempner as its preferred bidder after a board meeting on November 20, 2020. Another source said Davidson Kempner’s bid came with an attractive earn-out scheme and limited contractual protections. The decision to negotiate a deal with Davidson Kempner could be announced early next week, the sources said. Tillkännagivande • Nov 19
An unknown buyer acquired 5.3% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Alpha Bank A.E. (ATSE:ALPHA). An unknown buyer acquired 5.3% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Alpha Bank A.E. (ATSE:ALPHA) on November 13, 2020. As per the transaction, Alpha Bank A.E disposed 13 million shares of Hellenic Company for Telecommunications and Telematic Applications S.A.
An unknown buyer completed the acquisition of 5.3% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Alpha Bank A.E. (ATSE:ALPHA) on November 13, 2020. Tillkännagivande • Nov 10
Alpha Bank A.E. to Report Nine Months, 2020 Results on Nov 26, 2020 Alpha Bank A.E. announced that they will report nine months, 2020 results on Nov 26, 2020 Is New 90 Day High Low • Nov 05
New 90-day low: €0.43 The company is down 19% from its price of €0.52 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.36 per share. Is New 90 Day High Low • Oct 15
New 90-day low: €0.49 The company is down 17% from its price of €0.59 on 17 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.36 per share. Tillkännagivande • Sep 22
Laskarides acquired a 14.4% stake in Hellenic Seaways from Alpha Bank SA and small investors, Agapitos, Eurobank Properties Real Est Inv Co and Interamerican Hellenic Life Insurance Company S.A. Laskarides acquired a 14.4% stake in Hellenic Seaways from Alpha Bank SA and small investors, Agapitos, Eurobank Properties Real Est Inv Co and Interamerican Hellenic Life Insurance Company S.A. on October 26, 2006. Alpha Bank SA and small investors sold 1% stake, Agapitos sold 6.2% stake, Eurobank sold 3.2% stake and Interamerican sold 4% stake in Hellenic Seaways. Laskarides now holds above 33.34% stake in Hellenic Seaways.
Laskarides completed the acquisition of a 14.4% stake in Hellenic Seaways from Alpha Bank SA and small investors, Agapitos, Eurobank Properties Real Est Inv Co and Interamerican Hellenic Life Insurance Company S.A. on October 26, 2006. Tillkännagivande • Sep 09
United Group B.V. completed the acquisition of 36% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Piraeus Bank S.A. (ATSE:TPEIR), National Bank of Greece S.A. (ATSE:ETE), Alpha Bank A.E. (ATSE:ALPHA) and Attica Bank S.A. (ATSE:TATT). United Group B.V. agreed to acquire 36% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Piraeus Bank S.A. (ATSE:TPEIR), National Bank of Greece S.A. (ATSE:ETE), Alpha Bank A.E. (ATSE:ALPHA) and Attica Bank S.A. (ATSE:TATT) on May 29, 2020. United Group B.V. will also, initially, acquire up to approximately 50% of the principal amount of the Convertible Bonds and all the Loan Receivables. Pursuant to the acquisition, Hellenic Company for Telecommunications and Telematic Applications will be joining United Group. The transaction will be subject to customary regulatory approvals, antitrust approval and standard conditions precedent. As of August 14, 2020, the European Commission approved the transaction. As of September 2, 2020, relevant regulatory conditions have been satisfied and the United Group will promptly proceed to the closing of the debt acquisition. Closing is expected to occur on or about September 8, 2020. Nomura Holdings, Inc. acted as financial advisor to Piraeus Bank S.A. (ATSE:TPEIR), National Bank of Greece S.A. (ATSE:ETE), Alpha Bank A.E. (ATSE:ALPHA) and Attica Bank S.A. (ATSE:TATT). Apostolos Gkoutzinis and Mark Stamp of Milbank LLP and Papapolitis & Papapolitis acted as legal advisors to United Group.
United Group B.V. completed the acquisition of 36% stake in Hellenic Company for Telecommunications and Telematic Applications S.A. (ATSE:FORTH) from Piraeus Bank S.A. (ATSE:TPEIR), National Bank of Greece S.A. (ATSE:ETE), Alpha Bank A.E. (ATSE:ALPHA) and Attica Bank S.A. (ATSE:TATT) on September 8, 2020 Tillkännagivande • Jul 24
Alpha Bank A.E. to Report First Half, 2020 Results on Aug 27, 2020 Alpha Bank A.E. announced that they will report first half, 2020 results on Aug 27, 2020 
