New Risk • Aug 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 105% 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 Risk Earnings have declined by 7.1% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Buy Or Sell Opportunity • Aug 20
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 7.6% to AU$20.10. The fair value is estimated to be AU$16.50, 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 5.6%. Board Change • May 20
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. No experienced directors. 5 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Michael Perrott was the last independent director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Oct 14
Schaffer Corporation Limited, Annual General Meeting, Nov 19, 2025 Schaffer Corporation Limited, Annual General Meeting, Nov 19, 2025. Location: at pagoda resort & spa, 112 melville parade, como,western australia Australia Duyuru • Sep 28
Schaffer Corporation Limited Withdraws Profit Guidance for its Automotive Leather Division for the First-Half of Financial Year 2026 Schaffer Corporation Limited announced that it has withdrawn the first-half financial year 2026 profit guidance for its Automotive Leather division. This withdrawal is a direct result of a cyber incident experienced by one of the Automotive Leather division's major customers, Jaguar Land Rover (JLR), which has led to a halt in their production and continued uncertainty regarding the timing of its resumption. In early September 2025, JLR publicly announced that it had experienced a major cyber-attack that had
impacted multiple systems forcing a halt to production across all its manufacturing plants. Duyuru • Oct 08
Schaffer Corporation Limited, Annual General Meeting, Nov 13, 2024 Schaffer Corporation Limited, Annual General Meeting, Nov 13, 2024. Location: pagoda resort & spa, 112 melville parade, como, western australia, Australia Reported Earnings • Sep 27
Full year 2024 earnings released: EPS: AU$1.99 (vs AU$1.00 in FY 2023) Full year 2024 results: EPS: AU$1.99 (up from AU$1.00 in FY 2023). Revenue: AU$226.2m (up 23% from FY 2023). Net income: AU$27.1m (up 99% from FY 2023). Profit margin: 12% (up from 7.4% in FY 2023). Duyuru • Sep 25
Schaffer Corporation Limited to Report First Half, 2025 Results on Feb 19, 2025 Schaffer Corporation Limited announced that they will report first half, 2025 results on Feb 19, 2025 Recent Insider Transactions • Sep 13
Non-Executive Independent Director recently bought AU$113k worth of stock On the 10th of September, David Schwartz bought around 5k shares on-market at roughly AU$21.50 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$149k. Insiders have collectively bought AU$360k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 28
Non-Executive Independent Director recently bought AU$149k worth of stock On the 26th of August, David Schwartz bought around 7k shares on-market at roughly AU$21.97 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$247k more in shares than they have sold in the last 12 months. New Risk • Aug 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% 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 6.2% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Duyuru • Aug 23
Schaffer Corporation Limited Announces Ordinary Fully Paid Dividend for the Six Months Ended June 30, 2024 Schaffer Corporation Limited announced ordinary fully paid dividend of AUD 0.45000000 per share for the six months ended June 30, 2024, payable on September 20, 2024 with record date of September 9, 2024 and ex date of September 5, 2024. Declared Dividend • Aug 23
Final dividend of AU$0.45 announced Dividend of AU$0.45 is the same as last year. Ex-date: 5th September 2024 Payment date: 20th September 2024 Dividend yield will be 4.1%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 21
Full year 2024 earnings released: EPS: AU$1.99 (vs AU$1.00 in FY 2023) Full year 2024 results: EPS: AU$1.99 (up from AU$1.00 in FY 2023). Revenue: AU$226.2m (up 23% from FY 2023). Net income: AU$27.1m (up 99% from FY 2023). Profit margin: 12% (up from 7.4% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Board Change • Jul 31
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 19
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 03
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 15
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 26
First half 2024 earnings released: EPS: AU$0.65 (vs AU$0.38 in 1H 2023) First half 2024 results: EPS: AU$0.65 (up from AU$0.38 in 1H 2023). Revenue: AU$112.9m (up 35% from 1H 2023). Net income: AU$8.84m (up 72% from 1H 2023). Profit margin: 7.8% (up from 6.2% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Declared Dividend • Feb 24
First half dividend of AU$0.45 announced Dividend of AU$0.45 is the same as last year. Ex-date: 7th March 2024 Payment date: 15th March 2024 Dividend yield will be 4.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 21% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.5% EPS decline seen over the last 5 years. Board Change • Feb 09
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Dec 09
Chairman & MD recently bought AU$81k worth of stock On the 4th of December, John Schaffer bought around 4k shares on-market at roughly AU$18.06 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months. Board Change • Nov 30
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 07
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 25
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 04
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Aug 23
Schaffer Corporation Limited Announces Fully Franked Ordinary Fully Paid Dividend for the Six Months Ended June 30, 2023, Payable on September 22, 2023 Schaffer Corporation Limited announced fully franked ordinary fully paid dividend of AUD 0.45000000 per share for the six months ended June 30, 2023, payable on September 22, 2023 with record date of September 8, 2023 and ex date of September 7, 2023. Board Change • May 05
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 04
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 02
Upcoming dividend of AU$0.45 per share at 4.7% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 17 March 2023. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Lower than top quartile of Australian dividend payers (7.0%). Higher than average of industry peers (2.5%). Reported Earnings • Feb 23
First half 2023 earnings released: EPS: AU$0.38 (vs AU$0.47 in 1H 2022) First half 2023 results: EPS: AU$0.38 (down from AU$0.47 in 1H 2022). Revenue: AU$83.5m (up 14% from 1H 2022). Net income: AU$5.13m (down 21% from 1H 2022). Profit margin: 6.2% (down from 8.8% in 1H 2022). Board Change • Feb 07
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 16
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 25
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 26
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: EPS: AU$0.47 (down from AU$1.70 in 1H 2021). Revenue: AU$73.2m (down 28% from 1H 2021). Net income: AU$6.46m (down 72% from 1H 2021). Profit margin: 8.8% (down from 23% in 1H 2021). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 16%. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 13% per year. Board Change • Feb 04
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 15
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. No experienced directors. 5 highly experienced directors. Non-Executive Independent Director Michael Perrott was the last director to join the board, commencing their role in 2005. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 
