Declared Dividend • May 20
Dividend reduced to €0.47 Dividend of €0.47 is 20% lower than last year. Ex-date: 4th June 2026 Payment date: 8th June 2026 Dividend yield will be 5.9%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (33% payout ratio) and is expected to be well covered in 3 years' time (32% forecast payout ratio). The dividend has increased by an average of 2.4% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jun 06
ProCredit Holding AG Approves Dividend for the Financial Year 2024 ProCredit Holding AG held its Annual General Meeting for 2025 on 4 June 2025, The General Meeting resolved to pay out a dividend of EUR 0.59 per ordinary share, in accordance with the proposal of the Administration, submitted against the backdrop of positive business development. In line with the group’s dividend policy, according to which one third of the consolidated result is to be paid out as a dividend, a total of EUR 34.8 million will be distributed as a dividend for the 2024 financial year. Duyuru • Apr 25
ProCredit Holding AG, Annual General Meeting, Jun 04, 2025 ProCredit Holding AG, Annual General Meeting, Jun 04, 2025, at 10:00 W. Europe Standard Time. Duyuru • Mar 29
ProCredit Holding AG announces Annual dividend, payable on June 09, 2025 ProCredit Holding AG announced Annual dividend of EUR 0.5900 per share payable on June 09, 2025, ex-date on June 05, 2025 and record date on June 06, 2025. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: €0.41 (vs €0.59 in 2Q 2023) Second quarter 2024 results: EPS: €0.41 (down from €0.59 in 2Q 2023). Revenue: €107.1m (up 7.8% from 2Q 2023). Net income: €24.1m (down 31% from 2Q 2023). Profit margin: 23% (down from 35% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 29
Upcoming dividend of €0.64 per share Eligible shareholders must have bought the stock before 05 June 2024. Payment date: 07 June 2024. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.6%). In line with average of industry peers (6.3%). Reported Earnings • May 16
First quarter 2024 earnings released: EPS: €0.57 (vs €0.50 in 1Q 2023) First quarter 2024 results: EPS: €0.57 (up from €0.50 in 1Q 2023). Revenue: €106.9m (up 16% from 1Q 2023). Net income: €33.5m (up 14% from 1Q 2023). Profit margin: 31% (in line with 1Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 27
Price target increased by 18% to €17.00 Up from €14.47, the current price target is an average from 3 analysts. New target price is 98% above last closing price of €8.60. Stock is up 38% over the past year. The company is forecast to post earnings per share of €1.84 for next year compared to €1.92 last year. New Risk • Mar 22
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 7.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 22
Full year 2023 earnings released: EPS: €1.93 (vs €0.28 in FY 2022) Full year 2023 results: EPS: €1.93 (up from €0.28 in FY 2022). Revenue: €399.4m (up 67% from FY 2022). Net income: €113.4m (up €96.9m from FY 2022). Profit margin: 28% (up from 6.9% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.60% (up from 3.10% in FY 2022). Cost-to-income ratio: 57.0% (down from 64.0% in FY 2022). Non-performing loans: 2.68% (down from 3.22% in FY 2022). Revenue is forecast to stay flat during the next 2 years compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Nov 21
Price target increased by 7.4% to €14.47 Up from €13.47, the current price target is an average from 3 analysts. New target price is 79% above last closing price of €8.06. Stock is up 120% over the past year. The company is forecast to post earnings per share of €1.91 for next year compared to €0.28 last year. Reported Earnings • Nov 15
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €406.9m (up €342.3m from 3Q 2022). Net income: €357.1m (up €347.5m from 3Q 2022). Profit margin: 88% (up from 15% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Revenue is expected to decline by 18% p.a. on average during the next 3 years, while revenues in the Banks industry in Europe are expected to grow by 2.1%. Duyuru • Nov 14
ProCredit Holding AG, Annual General Meeting, Jun 04, 2024 ProCredit Holding AG, Annual General Meeting, Jun 04, 2024. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €7.24, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 47% over the past three years. Price Target Changed • Aug 23
Price target increased by 13% to €13.47 Up from €11.96, the current price target is an average from 2 analysts. New target price is 86% above last closing price of €7.24. Stock is up 113% over the past year. The company is forecast to post earnings per share of €1.68 for next year compared to €0.28 last year. Price Target Changed • Aug 21
Price target increased by 8.6% to €12.63 Up from €11.63, the current price target is an average from 2 analysts. New target price is 80% above last closing price of €7.02. Stock is up 104% over the past year. The company is forecast to post earnings per share of €1.68 for next year compared to €0.28 last year. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: €0.59 (vs €0.15 in 2Q 2022) Second quarter 2023 results: EPS: €0.59 (up from €0.15 in 2Q 2022). Revenue: €99.4m (up 61% from 2Q 2022). Net income: €34.6m (up 267% from 2Q 2022). Profit margin: 35% (up from 15% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Duyuru • Jul 23
ProCredit Holding AG & Co. KGaA and Ms Sandrine Massiani Agrees that Ms Massiani's Management Board Contract Will End on 31 December 2023 The Supervisory Board of ProCredit Holding AG & Co. KGaA and Ms Sandrine Massiani have agreed that Ms Massiani's Management Board contract will end on 31 December 2023. Ms Massiani is currently a member of the Management Board of ProCredit General Partner AG, the general partner of ProCredit Holding, and is responsible for Human Resources and Fraud Prevention/Compliance/AML. Ms Massiani will depart from the Management Board by mutual agreement at the end of 2023. Price Target Changed • Jun 09
Price target increased by 9.1% to €11.96 Up from €10.96, the current price target is an average from 2 analysts. New target price is 72% above last closing price of €6.96. Stock is up 74% over the past year. The company is forecast to post earnings per share of €1.43 for next year compared to €0.28 last year. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €6.70, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 9.0% over the past three years. Reported Earnings • May 21
First quarter 2023 earnings released: EPS: €0.50 (vs €0.03 loss in 1Q 2022) First quarter 2023 results: EPS: €0.50 (up from €0.03 loss in 1Q 2022). Revenue: €91.8m (up 118% from 1Q 2022). Net income: €29.5m (up €31.2m from 1Q 2022). Profit margin: 32% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Price Target Changed • Mar 29
Price target increased by 20% to €10.96 Up from €9.13, the current price target is an average from 2 analysts. New target price is 76% above last closing price of €6.24. Stock is up 63% over the past year. The company is forecast to post earnings per share of €1.06 for next year compared to €0.28 last year. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €5.42, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €5.02, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment improved over the past week After last week's 16% share price gain to €3.20, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 53% over the past three years. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: €0.15 (vs €0.35 in 2Q 2021) Second quarter 2022 results: EPS: €0.15 (down from €0.35 in 2Q 2021). Revenue: €60.8m (down 9.8% from 2Q 2021). Net income: €9.42m (down 55% from 2Q 2021). Profit margin: 16% (down from 31% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Over the next year, revenue is forecast to grow 11%, compared to a 16% growth forecast for the Banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 12
Price target decreased to €8.83 Down from €9.59, the current price target is an average from 2 analysts. New target price is 145% above last closing price of €3.60. Stock is down 51% over the past year. The company is forecast to post a net loss per share of €0.82 compared to earnings per share of €1.35 last year. Reported Earnings • May 15
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: €0.03 loss per share (down from €0.27 profit in 1Q 2021). Revenue: €42.1m (down 29% from 1Q 2021). Net loss: €1.71m (down 111% from profit in 1Q 2021). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 8.8%, compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Price Target Changed • May 05
Price target decreased to €11.26 Down from €12.15, the current price target is an average from 2 analysts. New target price is 212% above last closing price of €3.61. Stock is down 59% over the past year. The company is forecast to post a net loss per share of €0.82 compared to earnings per share of €1.35 last year. Price Target Changed • Apr 01
Price target increased to €16.00 Up from €12.15, the current price target is provided by 1 analyst. New target price is 337% above last closing price of €3.66. Stock is down 60% over the past year. The company is forecast to post a net loss per share of €1.76 compared to earnings per share of €1.35 last year. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorated over the past week After last week's 22% share price decline to €5.24, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 10x in the Banks industry in Europe. Total loss to shareholders of 43% over the past three years. Upcoming Dividend • Dec 02
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 13 December 2021. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.4%). Price Target Changed • Nov 19
Price target increased to €13.25 Up from €12.15, the current price target is an average from 4 analysts. New target price is 64% above last closing price of €8.10. Stock is up 36% over the past year. The company is forecast to post earnings per share of €1.40 for next year compared to €0.70 last year. Reported Earnings • Nov 12
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €74.7m (up 29% from 3Q 2020). Net income: €25.7m (up 119% from 3Q 2020). Profit margin: 34% (up from 20% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 7% per year. Price Target Changed • Aug 20
Price target increased to €12.03 Up from €11.10, the current price target is an average from 4 analysts. New target price is 57% above last closing price of €7.68. Stock is up 31% over the past year. Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS €0.35 (vs €0.14 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €67.4m (up 32% from 2Q 2020). Net income: €20.7m (up 160% from 2Q 2020). Profit margin: 31% (up from 16% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Executive Departure • Jun 04
Supervisory Board Member of Procredit General Partner AG Petar Slavov has left the company On the 27th of May, Petar Slavov's tenure as Supervisory Board Member of Procredit General Partner AG ended. We don't have any record of a personal shareholding under Petar's name. A total of 2 executives have left over the last 12 months. Executive Departure • Jun 04
Supervisory Board Member of Procredit General Partner AG Christian Kramer has left the company On the 27th of May, Christian Kramer's tenure as Supervisory Board Member of Procredit General Partner AG ended. We don't have any record of a personal shareholding under Christian's name. A total of 2 executives have left over the last 12 months. Upcoming Dividend • May 21
Upcoming dividend of €0.18 per share Eligible shareholders must have bought the stock before 28 May 2021. Payment date: 01 June 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.7%). Reported Earnings • May 14
First quarter 2021 earnings released: EPS €0.27 (vs €0.23 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €59.2m (up 2.4% from 1Q 2020). Net income: €15.6m (up 14% from 1Q 2020). Profit margin: 26% (up from 24% in 1Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 8% per year. Price Target Changed • Mar 29
Price target increased to €10.30 Up from €9.43, the current price target is an average from 4 analysts. New target price is 16% above last closing price of €8.90. Stock is up 75% over the past year. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS €0.70 (vs €1.02 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €226.3m (down 12% from FY 2019). Net income: €41.4m (down 31% from FY 2019). Profit margin: 18% (down from 23% in FY 2019). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.90% (down from 3.10% in FY 2019). Cost-to-income ratio: 68.0% (down from 70.5% in FY 2019). Non-performing loans: 2.49% (up from 2.41% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 8% per year, which means it is performing significantly worse than earnings. Price Target Changed • Mar 26
Price target increased to €9.55 Up from €8.93, the current price target is an average from 4 analysts. New target price is 14% above last closing price of €8.40. Stock is up 66% over the past year. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 18% share price gain to €8.35, the stock is trading at a trailing P/E ratio of 10.1x, up from the previous P/E ratio of 8.5x. This compares to an average P/E of 12x in the Banks industry in Europe. Total return to shareholders over the past three years is a loss of 25%. Is New 90 Day High Low • Feb 18
New 90-day high: €7.85 The company is up 31% from its price of €6.00 on 19 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks 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 €18.19 per share. Price Target Changed • Feb 16
Price target raised to €8.93 Up from €7.49, the current price target is an average from 4 analysts. The new target price is 24% above the current share price of €7.20. As of last close, the stock is down 0.7% over the past year. Is New 90 Day High Low • Dec 18
New 90-day high: €7.20 The company is up 29% from its price of €5.60 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.82 per share. Is New 90 Day High Low • Dec 01
New 90-day high: €6.15 The company is up 2.0% from its price of €6.05 on 02 September 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.92 per share. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS €0.20 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €58.1m (down 15% from 3Q 2019). Net income: €11.7m (down 44% from 3Q 2019). Profit margin: 20% (down from 31% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 21
New 90-day low: €5.00 The company is down 19% from its price of €6.20 on 22 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks 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 €11.56 per share. Is New 90 Day High Low • Oct 05
New 90-day low: €5.20 The company is down 17% from its price of €6.25 on 07 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.43 per share. Is New 90 Day High Low • Sep 19
New 90-day low: €5.60 The company is down 7.0% from its price of €6.00 on 19 June 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.19 per share.