Buy Or Sell Opportunity • Jun 16
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 46% to €6.96. The fair value is estimated to be €5.79, 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 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 5.8% in 2 years. Earnings are forecast to grow by 40% in the next 2 years. Board Change • May 21
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO, COO & Director Giovanni Testa was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Mar 23
Esprinet S.p.A., Annual General Meeting, Apr 23, 2026 Esprinet S.p.A., Annual General Meeting, Apr 23, 2026, at 11:30 W. Europe Standard Time. Tillkännagivande • Mar 18
Esprinet S.p.A. announces Annual dividend, payable on May 06, 2026 Esprinet S.p.A. announced Annual dividend of EUR 0.3500 per share payable on May 06, 2026, ex-date on May 04, 2026 and record date on May 05, 2026. Tillkännagivande • Jan 14
Esprinet Names Roberto Sasso Chief Financial Officer Esprinet S.p.A. appointed Roberto Sasso as Chief Financial Officer. Controlling Officer Roberto Sasso will oversee administration, finance, and control, and will be responsible for financial and strategic planning across the group. The company said he will also support the Chief Executive Officer and Chief Operating Officer in the evaluation and management of mergers and acquisitions. Sasso joined Esprinet in 2007 and has held several senior finance roles within the group, including Administrative Director for Italy and Group Budgeting and Financial Analysis Manager. Tillkännagivande • Sep 17
Esprinet S.p.A. (BIT:PRT) signed binding agreement to acquire Vamat B.V. for €18 million. Esprinet S.p.A. (BIT:PRT) signed binding agreement to acquire Vamat B.V. for €18 million on September 16, 2025. The adjustment will take place subject to adjustment mechanisms required for determination of final purchase price. €18 million is a provisional price.
For the period ending December 31, 2024, Vamat B.V. reported total revenue of €46.5 million and EBITDA of €2.7 million. As of December 31, 2024, Vamat B.V. reported total common equity of €9.3 million. The acquisition is expected to be completed around early October. €12.6 million will be paid in cash.
Bird & Bird LLP acted as legal advisor for Esprinet S.p.A. Deloitte Financial Advisory S.R.L. acted as financial advisor for Esprinet S.p.A. Deloitte Italy S.p.A acted as accountant for Esprinet S.p.A. JanssenBroekhuysen Advocaten acted as legal advisor for Vamat B.V. Oaklins acted as financial advisor for Vamat B.V. Tillkännagivande • Mar 20
Esprinet S.p.A., Annual General Meeting, Apr 17, 2025 Esprinet S.p.A., Annual General Meeting, Apr 17, 2025, at 15:00 W. Europe Standard Time. Tillkännagivande • Mar 14
Esprinet S.P.A. Announces Annual Dividend, Payable on May 07, 2025 Esprinet S.p.A. announced Annual dividend of EUR 0.4000 per share payable on May 07, 2025, ex-date on May 05, 2025 and record date on May 06, 2025. New Risk • Nov 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Large one-off items impacting financial results. Reported Earnings • Nov 16
Third quarter 2024 earnings released: EPS: €0.07 (vs €0.04 in 3Q 2023) Third quarter 2024 results: EPS: €0.07 (up from €0.04 in 3Q 2023). Revenue: €931.8m (up 11% from 3Q 2023). Net income: €3.35m (up 67% from 3Q 2023). Profit margin: 0.4% (up from 0.2% in 3Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Nov 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to €5.60. The fair value is estimated to be €4.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.3% over the last 3 years. Earnings per share has declined by 63%. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 78% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €5.82, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Electronic industry in Germany. Total loss to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.03 per share. Reported Earnings • Sep 13
Second quarter 2024 earnings released: EPS: €0.001 (vs €0.66 loss in 2Q 2023) Second quarter 2024 results: EPS: €0.001 (up from €0.66 loss in 2Q 2023). Revenue: €923.7m (up 4.1% from 2Q 2023). Net income: €54.0k (up €32.9m from 2Q 2023). Profit margin: 0% (up from net loss in 2Q 2023). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 36 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jul 29
Now 23% overvalued Over the last 90 days, the stock has fallen 4.8% to €4.84. The fair value is estimated to be €3.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.2% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: €0.06 (vs €0.12 in 1Q 2023) First quarter 2024 results: EPS: €0.06 (down from €0.12 in 1Q 2023). Revenue: €926.2m (down 9.1% from 1Q 2023). Net income: €3.20m (down 46% from 1Q 2023). Profit margin: 0.3% (down from 0.6% in 1Q 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 13
Full year 2023 earnings released: €0.24 loss per share (vs €0.96 profit in FY 2022) Full year 2023 results: €0.24 loss per share (down from €0.96 profit in FY 2022). Revenue: €3.99b (down 15% from FY 2022). Net loss: €11.9m (down 125% from profit in FY 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Feb 23
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 7.3% to €5.04. The fair value is estimated to be €4.18, 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 3 years. Meanwhile, the company became loss making. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: €0.04 (vs €0.11 in 3Q 2022) Third quarter 2023 results: EPS: €0.04 (down from €0.11 in 3Q 2022). Revenue: €839.1m (down 19% from 3Q 2022). Net income: €2.01m (down 62% from 3Q 2022). Profit margin: 0.2% (down from 0.5% in 3Q 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year and the company’s share price has also fallen by 20% per year. New Risk • Nov 15
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 44% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (44% net debt to equity). Dividend is not well covered by earnings (dividend per share is over 11x earnings per share). Share price has been volatile over the past 3 months (7.4% average weekly change). Reported Earnings • Sep 14
Second quarter 2023 earnings released: €0.65 loss per share (vs €0.16 profit in 2Q 2022) Second quarter 2023 results: €0.65 loss per share (down from €0.16 profit in 2Q 2022). Revenue: €887.2m (down 15% from 2Q 2022). Net loss: €32.8m (down €40.8m from profit in 2Q 2022). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Tillkännagivande • Aug 03
Esprinet S.p.A. completed the acquisition of Sifar Group Srl. Esprinet S.p.A. signed a binding agreement to acquire Sifar Group Srl on July 19, 2023. Following the closing a total amount of €9.3 million euros will therefore be paid in cash and using available resources. A further component of the Provisional Price, equal to €1.9 million euro, against the delivery of a first-demand bank guarantee of the same amount issued by a leading institution. The transaction is expected to close in few days of August. Studio Legale Chiomenti and EY Advisory S.p.A acted as legal and financial advisors to Esprinet S.p.A. (BIT:PRT). Gitti And Partners Studio Legale Associato acted as legal advisor and Maria Nella Palandri acted as accountant to Sifar Group SrlEsprinet S.p.A. completed the acquisition of Sifar Group Srl on August 2, 2023. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: €0.12 (vs €0.20 in 1Q 2022) First quarter 2023 results: EPS: €0.12 (down from €0.20 in 1Q 2022). Revenue: €1.02b (down 11% from 1Q 2022). Net income: €5.90m (down 41% from 1Q 2022). Profit margin: 0.6% (down from 0.9% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 15% per year. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €6.33, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Electronic industry in Germany. Total returns to shareholders of 88% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €12.02 per share. Upcoming Dividend • Apr 17
Upcoming dividend of €0.54 per share at 6.1% yield Eligible shareholders must have bought the stock before 24 April 2023. Payment date: 26 April 2023. Payout ratio is a comfortable 56% but the company is not cash flow positive. Trailing yield: 6.1%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.4%). Reported Earnings • Mar 17
Full year 2022 earnings released Full year 2022 results: Revenue: €4.68b (flat on FY 2021). Net income: €47.3m (up 7.2% from FY 2021). Profit margin: 1.0% (up from 0.9% in FY 2021). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Statutory Auditor Board Maurizio Dallocchio was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: €0.11 (vs €0.13 in 3Q 2021) Third quarter 2022 results: EPS: €0.11 (down from €0.13 in 3Q 2021). Revenue: €1.04b (up 6.7% from 3Q 2021). Net income: €5.29m (down 20% from 3Q 2021). Profit margin: 0.5% (down from 0.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 25% per year. Reported Earnings • Sep 18
Second quarter 2022 earnings released: EPS: €0.16 (vs €0.24 in 2Q 2021) Second quarter 2022 results: EPS: €0.16 (down from €0.24 in 2Q 2021). Revenue: €1.04b (down 3.0% from 2Q 2021). Net income: €7.96m (down 33% from 2Q 2021). Profit margin: 0.8% (down from 1.1% in 2Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jul 21
Esprinet Confirms Interest in Carrying Out Voluntary Takeover Bid Concerning All the Ordinary Shares of Cellularline After completing the limited due diligence activities, the Board of Directors of Esprinet S.p.A. (BIT:PRT) confirmed the interest in carrying out a voluntary takeover bid concerning all the ordinary shares of Cellularline S.p.A. (BIT:CELL), aimed at delisting. Reported Earnings • May 16
First quarter 2022 earnings released First quarter 2022 results: Revenue: €1.14b (down 2.3% from 1Q 2021). Net income: €10.1m (down 1.6% from 1Q 2021). Profit margin: 0.9% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 7.4%, compared to a 21% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of Statutory Auditor Board Maurizio Dallocchio was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 18
Upcoming dividend of €0.54 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 27 April 2022. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 5.7%. Within top quartile of German dividend payers (3.9%). Higher than average of industry peers (1.1%). Reported Earnings • Mar 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.89 (up from €0.63 in FY 2020). Revenue: €4.69b (up 4.4% from FY 2020). Net income: €44.2m (up 41% from FY 2020). Profit margin: 0.9% (up from 0.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 5.7%, compared to a 23% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 43% per year whereas the company’s share price has increased by 41% per year. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €9.22, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 18x in the Electronic industry in Germany. Total returns to shareholders of 202% over the past three years. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS €0.13 (vs €0.18 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €974.0m (down 13% from 3Q 2020). Net income: €6.60m (down 32% from 3Q 2020). Profit margin: 0.7% (down from 0.9% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €13.11, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 303% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.56 per share. Reported Earnings • Sep 08
Second quarter 2021 earnings released: EPS €0.24 (vs €0.079 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €1.07b (up 16% from 2Q 2020). Net income: €11.9m (up 212% from 2Q 2020). Profit margin: 1.1% (up from 0.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 16
First quarter 2021 earnings released: EPS €0.21 (vs €0.083 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €1.17b (up 28% from 1Q 2020). Net income: €10.2m (up 156% from 1Q 2020). Profit margin: 0.9% (up from 0.4% in 1Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • May 04
Upcoming dividend of €0.54 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 12 May 2021. Trailing yield: 4.0%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (0.8%). Tillkännagivande • Apr 28
Esprinet S.p.A. (BIT:PRT) commences an Equity Buyback Plan for 2,540,706 shares, representing 4.99% of its issued share capital, under the authorization approved on April 7, 2021. Esprinet S.p.A. (BIT:PRT) commences share repurchases on April 20, 2021, under the program mandated by the shareholders in the shareholders' meeting held on April 7, 2021. As per the mandate, the company is authorized to repurchase up to 2,540,706 shares, representing 4.99% of its share capital, company's holding in treasury does not exceed 2,546,706 own shares, representing 5% of its share capital. The maximum price in case of purchase on stock exchange will be in range of -20% and +20% compared to the official price of the business day before the purchase date and in case of public offer the price value will be in range of -30% and +30% compared to the official price of the business day before the purchase date. Minimum share price shall be nominal value. The purpose of the repurchase program is to reduction in share capital, in value or number of shares and fulfilment of obligations arising from share option programs or other assignments of shares to employees or members of the board of directors of the company or its subsidiaries or affiliate. The program will be funded out of available reserves and distributable profits. The share buyback program will be valid for a period of 18 months. As of March 2, 2021, the company had 50,934,123 common shares in issue and 1,150,000 own shares in treasury.
On April 19, 2021, the company initiated a Market Repurchase. Under the program, the company will repurchase up to €25 million worth of shares, representing 3% of its issued share capital. The shares will be used used in part to fulfill the obligations of the "Long Term Incentive Plan" 2021-2023 on the free allocation of company shares and, in part, to serve the reduction in the number of shares in circulation. The program will be started on April 20, 2021 and will end by December 31, 2021. As of April 19, 2021, the company has 352,314 treasury shares. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 21% share price gain to €12.96, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 265% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €11.87 per share. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS €0.63 (vs €0.46 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €4.49b (up 14% from FY 2019). Net income: €31.4m (up 36% from FY 2019). Profit margin: 0.7% (up from 0.6% in FY 2019). The increase in margin was driven by higher revenue. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue beats expectations Revenue exceeded analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 6.4%, compared to a 17% growth forecast for the Electronic industry in Germany. Is New 90 Day High Low • Feb 13
New 90-day high: €11.28 The company is up 41% from its price of €8.00 on 12 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.00 per share. Is New 90 Day High Low • Dec 24
New 90-day high: €10.68 The company is up 58% from its price of €6.76 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.65 per share. Is New 90 Day High Low • Dec 09
New 90-day high: €9.58 The company is up 60% from its price of €6.00 on 10 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic 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 €6.38 per share. Valuation Update With 7 Day Price Move • Nov 19
Market bids up stock over the past week After last week's 17% share price gain to €8.89, the stock is trading at a trailing P/E ratio of 14x, up from the previous P/E ratio of 12x. This compares to an average P/E of 34x in the Electronic industry in Germany. Total returns to shareholders over the past year are 125%. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS €0.18 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €1.12b (up 26% from 3Q 2019). Net income: €9.65m (up 408% from 3Q 2019). Profit margin: 0.9% (up from 0.2% in 3Q 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Nov 13
New 90-day high: €8.00 The company is up 78% from its price of €4.50 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.98 per share. Is New 90 Day High Low • Oct 14
New 90-day high: €7.72 The company is up 88% from its price of €4.12 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.70 per share. Is New 90 Day High Low • Sep 25
New 90-day high: €6.58 The company is up 76% from its price of €3.74 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.47 per share. 
