New Risk • Oct 05
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €590k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.05% net profit margin). Significant insider selling over the past 3 months (€590k sold). Market cap is less than US$100m (€83.8m market cap, or US$92.0m). New Risk • Oct 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.05% Last year net profit margin: 1.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.05% net profit margin). Market cap is less than US$100m (€83.5m market cap, or US$92.2m). Tillkännagivande • May 17
Micropole S.A., Annual General Meeting, Jun 28, 2024 Micropole S.A., Annual General Meeting, Jun 28, 2024. Location: 91 95 rue carnot, levallois perret France New Risk • May 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 73% 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: Major Risks Shares are highly illiquid. Earnings have declined by 9.5% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (€52.4m market cap, or US$56.4m). New Risk • Apr 30
New major risk - Revenue and earnings growth Earnings have declined by 16% per year over the past 5 years. 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 profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings 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 Risks Shares are highly illiquid. Earnings have declined by 16% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (€49.3m market cap, or US$52.9m). New Risk • Apr 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€48.5m market cap, or US$51.9m). Tillkännagivande • Mar 27
Miramar Holding SAS made an offer to acquire Micropole S.A. (ENXTPA : ALMIC) from T. Létoffé, C. Poyau, Dorval Asset Management, Nextstage AM and others for €41 million. Miramar Holding SAS made an offer to acquire Micropole S.A. (ENXTPA : ALMIC) from T. Létoffé, C. Poyau, Dorval Asset Management, Nextstage AM and others for €41 million on March 25, 2024. Offer price per share is €1.5. Offer period starts on May 16, 2024 and ends on June 19, 2024. Board Change • Mar 26
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Independent Director Sophie Le Tanneur was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Feb 23
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Independent Director Sophie Le Tanneur was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €1.39, the stock trades at a trailing P/E ratio of 42.3x. Average trailing P/E is 27x in the IT industry in the United Kingdom. Board Change • Jul 14
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). Independent Director Sophie Le Tanneur was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Sophie Le Tanneur was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • May 03
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Sophie Le Tanneur was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Mar 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Sophie Le Tanneur was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 
