Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €2.08, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 18x in the Building industry in Europe. Total loss to shareholders of 66% over the past three years. New Risk • Sep 29
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). High level of non-cash earnings (29% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€44.3m market cap, or US$49.4m). Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €1.89, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 17x in the Building industry in Europe. Total loss to shareholders of 68% over the past three years. Buy Or Sell Opportunity • Aug 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 41% to €2.24. The fair value is estimated to be €2.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last year. Earnings per share has declined by 6.3%. Buy Or Sell Opportunity • Jul 02
Now 40% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to €2.52. The fair value is estimated to be €4.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last year. Earnings per share has declined by 6.3%. Revenue is forecast to grow by 89% in a year. Earnings are forecast to grow by 26% in the next year. Buy Or Sell Opportunity • Jun 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to €2.48. The fair value is estimated to be €3.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 61% over the last 3 years. Earnings per share has grown by 61%. Revenue is forecast to grow by 89% in a year. Earnings are forecast to grow by 26% in the next year. Valuation Update With 7 Day Price Move • May 31
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €2.85, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 15x in the Building industry in Europe. Total loss to shareholders of 44% over the past three years. Buy Or Sell Opportunity • May 08
Now 23% overvalued The stock has been flat over the last 90 days, currently trading at €3.76. The fair value is estimated to be €3.06, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 61% over the last 3 years. Earnings per share has grown by 61%. Revenue is forecast to grow by 89% in a year. Earnings are forecast to grow by 26% in the next year. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €3.71, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 15x in the Building industry in Europe. Total loss to shareholders of 37% over the past three years. New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). High level of non-cash earnings (29% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Market cap is less than US$100m (€66.1m market cap, or US$70.2m). Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €2.72, the stock trades at a forward P/E ratio of 2x. Average forward P/E is 16x in the Building industry in Europe. Total loss to shareholders of 56% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to €4.30, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 15x in the Building industry in Europe. Total returns to shareholders of 65% over the past three years. New Risk • Nov 30
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 German stocks, typically moving 9.4% 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 Share price has been highly volatile over the past 3 months (9.4% average weekly change). High level of non-cash earnings (29% accrual ratio). Minor Risks Dividend is not well covered by cash flows (176% cash payout ratio). Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to €3.75, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 14x in the Building industry in Europe. Total returns to shareholders of 338% over the past three years. New Risk • Oct 05
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 81% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks High level of debt (81% net debt to equity). Dividend is not well covered by cash flows (175% cash payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to €4.27, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 14x in the Building industry in Europe. Total returns to shareholders of 381% over the past three years. New Risk • Aug 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.8% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €6.93, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 15x in the Building industry in Europe. Total returns to shareholders of 550% over the past three years. Duyuru • Jun 02
Sciuker Frames S.p.A. (BIT:SCK) signed binding deal to acquire Diquigiovanni Srl. Sciuker Frames S.p.A. (BIT:SCK) signed binding deal to acquire Diquigiovanni Srl on June 1, 2023. The transaction is expected to close by July. Board Change • Nov 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. 4 non-independent directors. Independent Director Diana D'Isanto 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 • Oct 18
Investor sentiment improved over the past week After last week's 17% share price gain to €7.07, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 12x in the Building industry in Europe. Total returns to shareholders of 505% over the past three years. Reported Earnings • Oct 04
First half 2022 earnings released: EPS: €0 (vs €0.20 in 1H 2021) First half 2022 results: EPS: €0. Revenue: €57.1m (up 74% from 1H 2021). Net income: €10.5m (up 144% from 1H 2021). Profit margin: 18% (up from 13% in 1H 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 45% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Building industry in Europe. Upcoming Dividend • Jun 06
Upcoming dividend of €0.28 per share Eligible shareholders must have bought the stock before 13 June 2022. Payment date: 15 June 2022. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.2%). Higher than average of industry peers (2.0%). Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 4 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). President of Board of Statutory Auditor Giuseppe Fotino is the most experienced director on the board, commencing their role in 2018. Independent Director Diana D'Isanto 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. Lack of experienced directors. Reported Earnings • Mar 18
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €77.3m (up 282% from FY 2020). Net income: €16.9m (up €14.1m from FY 2020). Profit margin: 22% (up from 14% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 29%. Over the next year, revenue is forecast to grow 98%, compared to a 10% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improved over the past week After last week's 18% share price gain to €9.80, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Building industry in Europe. Total returns to shareholders of 259% over the past year. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 17% share price gain to €7.94, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Building industry in Europe. Total returns to shareholders of 350% over the past year. Reported Earnings • Sep 17
First half 2021 earnings released: EPS €0.20 (vs €0.013 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €32.9m (up €29.6m from 1H 2020). Net income: €4.30m (up €4.16m from 1H 2020). Profit margin: 13% (up from 4.3% in 1H 2020). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 19% share price gain to €6.58, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 23x in the Building industry in Europe. Total returns to shareholders of 602% over the past year. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 18% share price gain to €5.92, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 24x in the Building industry in Europe. Total returns to shareholders of 485% over the past year. Duyuru • Apr 27
Sciuker Frames S.p.A. (BIT:SCK) has signed a preliminary deal to acquire 63.5% stake in G.C. Infissi Pvc Srl. Sciuker Frames S.p.A. (BIT:SCK) has signed a preliminary deal to acquire 63.5% stake in G.C. Infissi Pvc Srl on April 26, 2021. Reported Earnings • Apr 02
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €20.7m (up 71% from FY 2019). Net income: €1.54m (up 490% from FY 2019). Profit margin: 7.4% (up from 2.2% in FY 2019). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Feb 09
New 90-day high: €4.58 The company is up 238% from its price of €1.36 on 10 November 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 15% over the same period. Is New 90 Day High Low • Jan 23
New 90-day high: €3.82 The company is up 246% from its price of €1.10 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 18% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: €3.14 The company is up 209% from its price of €1.01 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 05
New 90-day high: €1.28 The company is up 25% from its price of €1.02 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 7.0% over the same period. Valuation Update With 7 Day Price Move • Nov 05
Market bids up stock over the past week After last week's 26% share price gain to €1.28, the stock is trading at a trailing P/E ratio of 59.8x, up from the previous P/E ratio of 47.6x. This compares to an average P/E of 19x in the Building industry in Europe. Total returns to shareholders over the past year were flat. Is New 90 Day High Low • Oct 12
New 90-day low: €0.93 The company is down 12% from its price of €1.06 on 14 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 9.0% over the same period. Is New 90 Day High Low • Sep 19
New 90-day low: €0.95 The company is down 15% from its price of €1.12 on 19 June 2020. The German market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 9.0% over the same period. Duyuru • Jul 17
Sciuker Frames S.p.A. (BIT:SCK) agreed to acquire 80% stake in Eco Contract Srl for €1.2 million. Sciuker Frames S.p.A. (BIT:SCK) agreed to acquire 80% stake in Eco Contract Srl for €1.2 million on July 3, 2020. Under the terms, Sciuker will pay €0.3 million at the time of signature and additional €0.9 million, which is conditional on the signing by Eco Contract of procurement contracts.