Buy Or Sell Opportunity • May 12
Now 33% overvalued after recent price rise Over the last 90 days, the stock has risen 3.6% to €2.28. The fair value is estimated to be €1.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to decline by 0.4% in a year. Earnings are forecast to grow by 80% in the next year. Buy Or Sell Opportunity • Apr 22
Now 21% overvalued Over the last 90 days, the stock has fallen 25% to €2.36. The fair value is estimated to be €1.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to decline by 0.4% in a year. Earnings are forecast to grow by 80% in the next year. Buy Or Sell Opportunity • Mar 20
Now 27% overvalued Over the last 90 days, the stock has fallen 15% to €2.46. The fair value is estimated to be €1.94, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to decline by 0.4% in a year. Earnings are forecast to grow by 80% in the next year. Buy Or Sell Opportunity • Nov 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.6% to €3.68. The fair value is estimated to be €4.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 2.0% in 2 years. Earnings are forecast to grow by 90% in the next 2 years. Reported Earnings • Nov 04
Full year 2025 earnings released: €1.57 loss per share (vs €2.96 loss in FY 2024) Full year 2025 results: €1.57 loss per share (improved from €2.96 loss in FY 2024). Revenue: €521.2m (down 1.5% from FY 2024). Net loss: €15.1m (loss narrowed 55% from FY 2024). Revenue is forecast to grow 1.0% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Duyuru • Oct 16
Damartex, Annual General Meeting, Nov 20, 2025 Damartex, Annual General Meeting, Nov 20, 2025. Location: 160 boulevard de fourmies, roubaix France New Risk • Sep 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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: Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (€2.9m net loss in 2 years). Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (€40.7m market cap, or US$47.6m). New Risk • Sep 22
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €25m Forecast net loss in 2 years: €2.9m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€2.9m net loss in 2 years). Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (€41.6m market cap, or US$49.0m). New Risk • May 26
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 German stocks, typically moving 8.9% 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 Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (€46.1m market cap, or US$52.5m). Reported Earnings • Mar 12
First half 2025 earnings released: €0.36 loss per share (vs €1.11 loss in 1H 2024) First half 2025 results: €0.36 loss per share (improved from €1.11 loss in 1H 2024). Revenue: €284.6m (down 2.9% from 1H 2024). Net loss: €2.54m (loss narrowed 80% from 1H 2024). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 29 percentage points per year, which is a significant difference in performance. New Risk • Sep 21
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 German stocks, typically moving 7.0% 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 Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€53.6m market cap, or US$59.9m). Duyuru • Sep 11
Damartex, Annual General Meeting, Nov 21, 2024 Damartex, Annual General Meeting, Nov 21, 2024. New Risk • Aug 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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: Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (€35.4m market cap, or US$39.0m). Reported Earnings • Mar 11
First half 2024 earnings released First half 2024 results: Revenue: €292.9m (down 20% from 1H 2023). Net loss: €12.7m (loss widened 347% from 1H 2023). Revenue is expected to decline by 1.6% p.a. on average during the next 2 years, while revenues in the Luxury industry in Europe are expected to grow by 7.3%. New Risk • Mar 08
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: €47m Forecast net loss in 1 year: €2.2m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (€2.2m net loss next year). Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (€40.7m market cap, or US$44.5m). Reported Earnings • Sep 08
Full year 2023 earnings released Full year 2023 results: Revenue: €650.4m (down 9.5% from FY 2022). Net loss: €32.6m (loss widened 463% from FY 2022). Revenue is expected to decline by 1.6% p.a. on average during the next 2 years, while revenues in the Luxury industry in Germany are expected to grow by 7.2%. Reported Earnings • Sep 09
Full year 2022 earnings released Full year 2022 results: Revenue: €719.0m (down 5.9% from FY 2021). Net loss: €5.80m (down 136% from profit in FY 2021). Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Luxury industry in Germany. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €10.20, the stock trades at a forward P/E ratio of 87x. Average forward P/E is 18x in the Luxury industry in Germany. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €10.10, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 19x in the Luxury industry in Germany. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €11.05, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 18x in the Luxury industry in Germany. Reported Earnings • Mar 11
First half 2022 earnings: Revenues in line with analyst expectations First half 2022 results: Revenue: €401.7m (flat on 1H 2021). Net income: €9.30m (down 16% from 1H 2021). Profit margin: 2.3% (down from 2.7% in 1H 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 3.0%, compared to a 4.9% growth forecast for the industry in Germany.