Reported Earnings • Feb 05
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: €0.015 (down from €0.23 in FY 2024). Revenue: €63.4m (up 140% from FY 2024). Net income: €384.0k (down 93% from FY 2024). Profit margin: 0.6% (down from 22% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) also missed analyst estimates by 97%. Revenue is forecast to grow 80% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Consumer Durables industry in Italy. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. New Risk • Dec 27
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: 0.6% Last year net profit margin: 22% 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 Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (€70.6m market cap, or US$83.1m). New Risk • Aug 14
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x 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 (2.3x net interest cover). High level of non-cash earnings (23% accrual ratio). Minor Risk Market cap is less than US$100m (€71.5m market cap, or US$83.6m). Reported Earnings • Aug 10
Third quarter 2025 earnings released: EPS: €0.003 (vs €0.062 in 3Q 2024) Third quarter 2025 results: EPS: €0.003 (down from €0.062 in 3Q 2024). Revenue: €8.81m (up 59% from 3Q 2024). Net income: €140.1k (down 93% from 3Q 2024). Profit margin: 1.6% (down from 35% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Consumer Durables industry in Italy. Over the last 3 years on average, earnings per share has fallen by 32% 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. Major Estimate Revision • Jul 15
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.79 to €0.636 per share. Revenue forecast steady at €129.6m. Net income forecast to grow 219% next year vs 0.5% decline forecast for Consumer Durables industry in Italy. Consensus price target down from €6.60 to €6.05. Share price was steady at €3.32 over the past week. Price Target Changed • Jul 15
Price target decreased by 10% to €6.05 Down from €6.75, the current price target is an average from 2 analysts. New target price is 84% above last closing price of €3.29. Stock is down 21% over the past year. The company is forecast to post earnings per share of €0.64 for next year compared to €0.23 last year. Major Estimate Revision • Jun 20
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €149.3m to €129.2m. EPS estimate fell from €0.95 to €0.79 per share. Net income forecast to grow 290% next year vs 2.1% decline forecast for Consumer Durables industry in Italy. Consensus price target down from €6.75 to €6.60. Share price fell 5.0% to €3.04 over the past week. Reported Earnings • Jun 15
Second quarter 2025 earnings released: €0.06 loss per share (vs €0.041 loss in 2Q 2024) Second quarter 2025 results: €0.06 loss per share (further deteriorated from €0.041 loss in 2Q 2024). Revenue: €15.2m (up 131% from 2Q 2024). Net loss: €1.74m (loss widened 88% from 2Q 2024). Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Consumer Durables industry in Italy. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 17% per year. New Risk • Mar 06
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 Italian stocks, typically moving 4.5% 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (4.5% average weekly change). High level of non-cash earnings (25% accrual ratio). Minor Risk Market cap is less than US$100m (€102.0m market cap, or US$110.1m). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to €3.03, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 12x in the Consumer Durables industry in Italy. Total loss to shareholders of 50% over the past three years. Reported Earnings • Jan 29
Full year 2024 earnings released: EPS: €0.23 (vs €0.92 in FY 2023) Full year 2024 results: EPS: €0.23 (down from €0.92 in FY 2023). Revenue: €26.4m (down 90% from FY 2023). Net income: €5.78m (down 76% from FY 2023). Profit margin: 22% (up from 9.6% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 60% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Consumer Durables industry in Italy. 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 19% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Sep 10
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €83.5m to €75.0m. EPS estimate fell from €0.361 to €0.278 per share. Net income forecast to grow 352% next year vs 36% growth forecast for Consumer Durables industry in Italy. Consensus price target broadly unchanged at €6.75. Share price was steady at €4.18 over the past week. Major Estimate Revision • Aug 28
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €98.3m to €83.5m. EPS estimate fell from €0.586 to €0.361 per share. Net income forecast to grow 375% next year vs 37% growth forecast for Consumer Durables industry in Italy. Consensus price target down from €7.05 to €6.80. Share price rose 4.5% to €4.42 over the past week. New Risk • Aug 09
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 Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Profit margins are more than 30% lower than last year (7.7% net profit margin). Reported Earnings • Aug 09
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €5.55m (down 92% from 3Q 2023). Net income: €1.96m (up 206% from 3Q 2023). Profit margin: 35% (up from 0.9% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Consumer Durables industry in Italy. New Risk • Jun 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 High level of debt (74% net debt to equity). Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Significant insider selling over the past 3 months (€54k sold). Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €4.12, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 12x in the Consumer Durables industry in Italy. Total loss to shareholders of 27% over the past three years. Reported Earnings • Jun 14
Second quarter 2024 earnings released: €0.021 loss per share (vs €0.78 profit in 2Q 2023) Second quarter 2024 results: €0.021 loss per share (down from €0.78 profit in 2Q 2023). Revenue: €6.58m (down 94% from 2Q 2023). Net loss: €926.8k (down 104% from profit in 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Consumer Durables industry in Italy. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Jun 13
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 Italian stocks, typically moving 6.3% 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: Minor Risks High level of debt (61% net debt to equity). Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (6.3% average weekly change). Significant insider selling over the past 3 months (€54k sold). Buy Or Sell Opportunity • Jun 11
Now 21% undervalued Over the last 90 days, the stock has risen 15% to €4.97. The fair value is estimated to be €6.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 59% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to decline by 31% in 2 years. Earnings are forecast to grow by 3.3% in the next 2 years. Price Target Changed • May 28
Price target decreased by 8.9% to €7.15 Down from €7.85, the current price target is an average from 2 analysts. New target price is 48% above last closing price of €4.82. Stock is down 5.5% over the past year. The company is forecast to post earnings per share of €0.63 for next year compared to €0.92 last year. Major Estimate Revision • Mar 14
Consensus revenue estimates decrease by 18%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from €159.7m to €131.2m. EPS estimate increased from €1.05 to €1.23 per share. Net income forecast to grow 27% next year vs 12% growth forecast for Consumer Durables industry in Italy. Consensus price target down from €7.85 to €7.60. Share price was steady at €4.33 over the past week. Price Target Changed • Mar 13
Price target decreased by 7.9% to €7.60 Down from €8.25, the current price target is an average from 2 analysts. New target price is 73% above last closing price of €4.40. Stock is down 21% over the past year. The company is forecast to post earnings per share of €1.23 for next year compared to €0.92 last year. Reported Earnings • Feb 14
First quarter 2024 earnings released: EPS: €0.076 (vs €0.04 in 1Q 2023) First quarter 2024 results: EPS: €0.076 (up from €0.04 in 1Q 2023). Revenue: €6.64m (down 78% from 1Q 2023). Net income: €2.01m (up 95% from 1Q 2023). Profit margin: 30% (up from 3.4% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 8.3% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in Italy are expected to grow by 5.3%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jan 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.1% to €4.78. The fair value is estimated to be €6.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 55% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to decline by 12% per annum. Earnings are forecast to grow by 7.2% per annum over the same time period. Buying Opportunity • Jan 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.2%. The fair value is estimated to be €6.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 55% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to decline by 12% per annum. Earnings is forecast to grow by 7.2% per annum over the same time period. Major Estimate Revision • Jan 14
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €154.4m to €159.7m. EPS estimate fell from €1.23 to €1.05 per share. Net income forecast to grow 15% next year vs 15% growth forecast for Consumer Durables industry in Italy. Consensus price target down from €8.25 to €7.85. Share price was steady at €5.06 over the past week. Price Target Changed • Jan 12
Price target decreased by 9.2% to €7.85 Down from €8.65, the current price target is an average from 2 analysts. New target price is 55% above last closing price of €5.06. Stock is down 16% over the past year. The company is forecast to post earnings per share of €1.05 for next year compared to €0.92 last year. Board Change • Jan 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Director Nicla Picchi was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buying Opportunity • Dec 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €6.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 55% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to decline by 11% per annum. Earnings is forecast to grow by 12% per annum over the same time period. Reported Earnings • Dec 15
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: €0.92 (up from €0.30 in FY 2022). Revenue: €252.4m (up €226.9m from FY 2022). Net income: €24.3m (up 208% from FY 2022). Profit margin: 9.6% (down from 31% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is expected to decline by 5.1% p.a. on average during the next 2 years, while revenues in the Consumer Durables industry in Italy are expected to grow by 4.6%. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €5.00, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 9x in the Consumer Durables industry in Italy. Total returns to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.11 per share. New Risk • Aug 09
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: 12% Last year net profit margin: 31% 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: Minor Risks High level of debt (55% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Profit margins are more than 30% lower than last year (12% net profit margin). Reported Earnings • Aug 09
Third quarter 2023 earnings released: EPS: €0.024 (vs €0.14 in 3Q 2022) Third quarter 2023 results: EPS: €0.024 (down from €0.14 in 3Q 2022). Revenue: €70.4m (up €68.5m from 3Q 2022). Net income: €640.7k (down 79% from 3Q 2022). Profit margin: 0.9% (down from 161% in 3Q 2022). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Consumer Durables industry in Italy. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jul 26
Abitare In S.p.A. (BIT:ABT) commences an Equity Buyback Plan for 5,320,156 shares, representing 20% of its issued share capital, under the authorization approved on July 14, 2023. Abitare In S.p.A. (BIT:ABT) commences share repurchases on July 20, 2023, under the program mandated by the Annual General Meeting held on July 14, 2023. As per the mandate, the company is authorized to repurchase up to 5,320,156 shares, representing 20% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 20% of its issued share capital at any point of time. The shares will be purchased at a price per share that may not deviate by more than 20% from the reference price recorded by the stock in the trading session preceding each individual transaction, either by decrease or by increase - to a consideration that is not higher than the higher of the price of the last independent transaction and the price of the highest current independent purchase offer present on the trading venue where the purchase is made. The program is valid for 18 months. As of June 14, 2023, the company had 26,600,780 ordinary shares and no shares in treasury.
On July 19, 2023, the company announced a share repurchase program. Under the program, the company will repurchase €20 million worth of shares. The repurchased shares will be allocated to service any future incentive plans for the purpose to incentivize and retain employees, collaborators, directors of the Company, subsidiaries and/or other categories of subjects chosen at the discretion of the Board operations such as the sale and/or exchange of treasury shares for the acquisition of direct or indirect shareholdings and/or real estate and/or the conclusion of agreements with strategic partners and/or for the implementation of industrial projects or extraordinary finance operations, which fall within the expansion objectives of the Company and the group. New Risk • Jul 20
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 6.9% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (63% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Major Estimate Revision • Jul 14
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €206.0m to €192.7m. EPS estimate also fell from €1.27 per share to €1.09 per share. Net income forecast to grow 7.4% next year vs 33% growth forecast for Consumer Durables industry in Italy. Consensus price target of €8.55 unchanged from last update. Share price was steady at €5.36 over the past week. Buying Opportunity • Jun 25
Now 21% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be €7.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 15% in the next 2 years. Reported Earnings • Jun 17
Second quarter 2023 earnings released: EPS: €0.78 (vs €0.19 loss in 2Q 2022) Second quarter 2023 results: EPS: €0.78 (up from €0.19 loss in 2Q 2022). Revenue: €113.2m (up €104.7m from 2Q 2022). Net income: €21.2m (up €26.3m from 2Q 2022). Profit margin: 19% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Consumer Durables industry in Italy. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jun 16
Consensus EPS estimates fall by 35% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €226.0m to €206.0m. EPS estimate also fell from €1.94 per share to €1.27 per share. Net income forecast to grow 367% next year vs 39% growth forecast for Consumer Durables industry in Italy. Consensus price target broadly unchanged at €8.55. Share price rose 6.3% to €5.36 over the past week. Reported Earnings • Feb 14
First quarter 2023 earnings released: EPS: €0.04 (vs €0.30 in 1Q 2022) First quarter 2023 results: EPS: €0.04 (down from €0.30 in 1Q 2022). Revenue: €30.5m (up 229% from 1Q 2022). Net income: €1.03m (down 87% from 1Q 2022). Profit margin: 3.4% (down from 84% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Consumer Durables industry in Italy. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 7% per year. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. Independent Director Giuseppe Vegas was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Dec 14
Full year 2022 earnings released: EPS: €0.30 (vs €0.47 in FY 2021) Full year 2022 results: EPS: €0.30 (down from €0.47 in FY 2021). Revenue: €25.5m (down 53% from FY 2021). Net income: €7.89m (down 35% from FY 2021). Profit margin: 31% (up from 22% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 69% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Consumer Durables industry in Italy. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 10
Third quarter 2022 earnings released: EPS: €0.14 (vs €0.17 in 3Q 2021) Third quarter 2022 results: EPS: €0.14 (down from €0.17 in 3Q 2021). Revenue: €6.15m (down 62% from 3Q 2021). Net income: €2.99m (down 30% from 3Q 2021). Profit margin: 49% (up from 27% in 3Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 418%, compared to a 12% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 15
Second quarter 2022 earnings released Second quarter 2022 results: €0.21 loss per share. Revenue: €8.52m (flat on 2Q 2021). Net loss: €5.04m (flat on 2Q 2021). Over the next year, revenue is forecast to grow 275%, compared to a 11% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 11
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €159.6m to €145.1m. EPS estimate also fell from €0.89 per share to €0.68 per share. Net income forecast to grow 29% next year vs 9.8% growth forecast for Consumer Durables industry in Italy. Consensus price target down from €9.15 to €8.85. Share price rose 2.7% to €6.46 over the past week. Recent Insider Transactions • Feb 23
CEO & Director recently bought €72k worth of stock On the 21st of February, Marco Grillo bought around 11k shares on-market at roughly €6.58 per share. In the last 3 months, there was an even bigger purchase from another insider worth €121k. This was Marco's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €6.26, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Consumer Durables industry in Italy. Total returns to shareholders of 59% over the past three years. Reported Earnings • Feb 18
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: €0.30 (up from €0.11 in 1Q 2021). Revenue: €9.26m (down 57% from 1Q 2021). Net income: €7.80m (up 164% from 1Q 2021). Profit margin: 84% (up from 14% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 303%, compared to a 13% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 16
Price target increased to €9.15 Up from €8.13, the current price target is an average from 3 analysts. New target price is 24% above last closing price of €7.39. Stock is up 51% over the past year. The company is forecast to post earnings per share of €1.11 for next year compared to €0.47 last year. Reported Earnings • Jan 04
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €0.47 (up from €0.35 in FY 2020). Revenue: €54.5m (up 24% from FY 2020). Net income: €12.2m (up 33% from FY 2020). Profit margin: 22% (up from 21% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 226%, compared to a 14% growth forecast for the industry in Italy. Over the last 3 years on average, earnings per share has increased by 40% per year whereas the company’s share price has increased by 42% per year. Price Target Changed • Nov 08
Price target increased to €8.20 Up from €7.48, the current price target is an average from 4 analysts. New target price is 6.6% below last closing price of €8.78. Stock is up 106% over the past year. The company is forecast to post earnings per share of €0.53 for next year compared to €0.35 last year. Price Target Changed • Oct 25
Price target increased to €7.90 Up from €7.21, the current price target is an average from 4 analysts. New target price is 9.7% above last closing price of €7.20. Stock is up 61% over the past year. The company is forecast to post earnings per share of €0.53 for next year compared to €0.35 last year. Price Target Changed • Sep 06
Price target increased to €7.48 Up from €6.84, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €7.29. Stock is up 83% over the past year. Major Estimate Revision • Aug 12
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €0.65 to €0.56. Revenue forecast unchanged from €125.3m at last update. Net income forecast to grow 147% next year vs 52% growth forecast for Consumer Durables industry in Italy. Consensus price target up from €6.84 to €7.21. Share price fell 2.7% to €6.40 over the past week. Price Target Changed • Aug 09
Price target increased to €7.14 Up from €6.44, the current price target is an average from 4 analysts. New target price is 12% above last closing price of €6.38. Stock is up 61% over the past year. Reported Earnings • Aug 09
Third quarter 2021 earnings released: EPS €0.17 (vs €0.10 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: €16.1m (up €15.4m from 3Q 2020). Net income: €4.29m (up 57% from 3Q 2020). Profit margin: 27% (down from 388% in 3Q 2020). The decrease in margin was primarily driven by higher revenue. 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 27% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 12
First half 2021 earnings released: EPS €1.42 (vs €1.21 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: €25.4m (up €24.8m from 1H 2020). Net income: €3.69m (up 19% from 1H 2020). Profit margin: 14% (down from 517% in 1H 2020). The decrease in margin was primarily driven by higher revenue. 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 21% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 06
New 90-day high: €49.80 The company is up 16% from its price of €42.90 on 06 November 2020. The Italian market is also up 16% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Consumer Durables industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €94.29 per share. Is New 90 Day High Low • Jan 14
New 90-day high: €49.20 The company is up 8.0% from its price of €45.60 on 15 October 2020. The Italian market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Durables industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €93.28 per share. Analyst Estimate Surprise Post Earnings • Jan 01
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 22%. Earnings per share (EPS) exceeded analyst estimates by 34%. Over the next year, revenue is forecast to grow 184%, compared to a 15% growth forecast for the Consumer Durables industry in Italy. Reported Earnings • Nov 28
Full year 2020 earnings released: EPS €3.59 The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: €43.9m (up €43.2m from FY 2019). Net income: €9.20m (up 44% from FY 2019). Profit margin: 21% (down from 874% in FY 2019). The decrease in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 28
New 90-day high: €47.70 The company is up 20% from its price of €39.90 on 28 August 2020. The Italian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €760 per share. Is New 90 Day High Low • Oct 12
New 90-day high: €44.50 The company is up 11% from its price of €40.00 on 14 July 2020. The Italian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 20% over the same period.