Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to €6.50, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 16x in the Commercial Services industry in Europe. Total returns to shareholders of 107% over the past three years. Board Change • May 27
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. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • May 16
Atomenergoremont PLC, Annual General Meeting, Jun 18, 2025 Atomenergoremont PLC, Annual General Meeting, Jun 18, 2025, at 12:00 FLE Standard Time. Location: in the town of kozloduy at the site of, kozloduy npp, Bulgaria Reported Earnings • Oct 30
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: лв35.0m (up 81% from 3Q 2023). Net income: лв19.5m (up 105% from 3Q 2023). Profit margin: 56% (up from 49% in 3Q 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to лв13.00, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 14x in the Commercial Services industry in Europe. Total returns to shareholders of 105% over the past three years. Board Change • Sep 05
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. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Aug 19
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: 15% 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 Shares are highly illiquid. Minor Risks Profit margins are more than 30% lower than last year (15% net profit margin). Market cap is less than US$100m (лв153.6m market cap, or US$86.6m). New Risk • Aug 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: лв153.6m (US$85.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risk Market cap is less than US$100m (лв153.6m market cap, or US$85.8m). New Risk • Jul 30
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: 15% 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 Shares are highly illiquid. Minor Risk Profit margins are more than 30% lower than last year (15% net profit margin). Board Change • Jul 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. 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 • Jun 19
Investor sentiment improves as stock rises 60% After last week's 60% share price gain to лв20.00, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 14x in the Commercial Services industry in Europe. Total returns to shareholders of 236% over the past three years. Upcoming Dividend • Jun 19
Upcoming dividend of лв0.04 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 22 July 2024. Payout ratio is a comfortable 2.3% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Bulgarian dividend payers (5.9%). Lower than average of industry peers (2.8%). Upcoming Dividend • Jun 18
Upcoming dividend of лв0.04 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 22 July 2024. Payout ratio is a comfortable 2.3% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Bulgarian dividend payers (5.9%). Lower than average of industry peers (2.8%). Board Change • May 29
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: лв0.28 (vs лв0.40 in 1Q 2023) First quarter 2024 results: EPS: лв0.28 (down from лв0.40 in 1Q 2023). Revenue: лв11.6m (down 1.3% from 1Q 2023). Net income: лв4.33m (down 30% from 1Q 2023). Profit margin: 37% (down from 52% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year and the company’s share price has also increased by 29% per year. Board Change • May 01
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 10
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to лв14.40, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 14x in the Commercial Services industry in Europe. Total returns to shareholders of 167% over the past three years. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to лв12.60, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 15x in the Commercial Services industry in Europe. Total returns to shareholders of 133% over the past three years. Board Change • Feb 23
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 28
Full year 2023 earnings released: EPS: лв2.35 (vs лв0.87 in FY 2022) Full year 2023 results: EPS: лв2.35 (up from лв0.87 in FY 2022). Revenue: лв86.6m (up 44% from FY 2022). Net income: лв36.1m (up 169% from FY 2022). Profit margin: 42% (up from 22% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to лв12.00, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 17x in the Commercial Services industry in Europe. Total returns to shareholders of 122% over the past three years. Board Change • Jan 18
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to лв10.00, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 17x in the Commercial Services industry in Europe. Total returns to shareholders of 87% over the past three years. Board Change • Dec 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 01
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to лв9.50, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 16x in the Commercial Services industry in Europe. Total returns to shareholders of 78% over the past three years. Board Change • Nov 02
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 26
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 25
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Aug 10
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to лв8.00, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 15x in the Commercial Services industry in Europe. Total returns to shareholders of 50% over the past three years. Board Change • Jul 06
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 09
Upcoming dividend of лв0.025 per share at 0.2% yield Eligible shareholders must have bought the stock before 16 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 1.5% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Bulgarian dividend payers (6.3%). Lower than average of industry peers (2.8%). Board Change • Jun 07
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 21
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 21
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 25
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 26
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non Executive Director Krum Bivolarski was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 02
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: лв19.4m (up 159% from 2Q 2021). Net income: лв350.0k (down 92% from 2Q 2021). Profit margin: 1.8% (down from 58% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 06
Upcoming dividend of лв0.015 per share Eligible shareholders must have bought the stock before 13 July 2022. Payment date: 27 August 2022. Payout ratio is a comfortable 1.5% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Bulgarian dividend payers (6.4%). Lower than average of industry peers (3.1%). Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorated over the past week After last week's 31% share price decline to лв6.20, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 15x in the Commercial Services industry in Europe. Total returns to shareholders of 3.6% over the past year. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 15% share price gain to лв7.50, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 21x in the Commercial Services industry in Europe. Total returns to shareholders of 38% over the past three years. Reported Earnings • Feb 02
Full year 2020 earnings released: EPS лв0.79 (vs лв0.77 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: лв47.3m (down 13% from FY 2019). Net income: лв12.1m (up 2.7% from FY 2019). Profit margin: 26% (up from 22% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.