Board Change • May 21
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Johan Deburchgrave was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Apr 27
Belysse Group NV, Annual General Meeting, May 27, 2026 Belysse Group NV, Annual General Meeting, May 27, 2026, at 11:00 Romance Standard Time. Buy Or Sell Opportunity • Jan 07
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to €0.74. The fair value is estimated to be €1.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Meanwhile, the company became loss making. Board Change • Dec 30
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. 3 independent directors (6 non-independent directors). Independent director Vanessa Temple was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Apr 28
Belysse Group NV, Annual General Meeting, May 28, 2025 Belysse Group NV, Annual General Meeting, May 28, 2025, at 11:00 Romance Standard Time. Duyuru • Feb 11
Belysse Group NV to Report First Half, 2025 Results on Sep 05, 2025 Belysse Group NV announced that they will report first half, 2025 results on Sep 05, 2025 Duyuru • Oct 21
Belysse Group NV to Report Fiscal Year 2024 Results on Mar 07, 2025 Belysse Group NV announced that they will report fiscal year 2024 results on Mar 07, 2025 Reported Earnings • Aug 26
First half 2024 earnings released: EPS: €0.29 (vs €0.28 loss in 1H 2023) First half 2024 results: EPS: €0.29 (up from €0.28 loss in 1H 2023). Revenue: €144.7m (down 7.0% from 1H 2023). Net income: €10.5m (up €20.5m from 1H 2023). Profit margin: 7.3% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. New Risk • Aug 25
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (€30.6m market cap, or US$34.2m). Reported Earnings • Apr 22
Full year 2023 earnings released: €0.31 loss per share (vs €0.37 loss in FY 2022) Full year 2023 results: €0.31 loss per share (improved from €0.37 loss in FY 2022). Revenue: €300.9m (down 11% from FY 2022). Net loss: €11.1m (loss narrowed 17% from FY 2022). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Duyuru • Apr 21
Belysse Group NV, Annual General Meeting, May 22, 2024 Belysse Group NV, Annual General Meeting, May 22, 2024, at 11:00 Central European Standard Time. Location: Franklin Rooseveltlaan 172-174 Waregem Belgium Buy Or Sell Opportunity • Apr 05
Now 23% undervalued Over the last 90 days, the stock has risen 25% to €0.90. The fair value is estimated to be €1.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years, while earnings per share has been flat. Duyuru • Mar 27
Belysse Group NV to Report First Half, 2024 Results on Aug 23, 2024 Belysse Group NV announced that they will report first half, 2024 results on Aug 23, 2024 Reported Earnings • Mar 03
Full year 2023 earnings released Full year 2023 results: Revenue: €300.9m (down 11% from FY 2022). Net loss: €11.1m (loss narrowed 17% from FY 2022). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Consumer Durables industry in Germany. New Risk • Feb 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (€23.7m market cap, or US$25.5m). Duyuru • Jan 24
Belysse Group NV to Report Fiscal Year 2023 Results on Mar 01, 2024 Belysse Group NV announced that they will report fiscal year 2023 results on Mar 01, 2024 New Risk • Nov 04
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 Risk Share price has been highly volatile over the past 3 months (9.4% average weekly change). Minor Risk Market cap is less than US$100m (€28.0m market cap, or US$30.1m). Breakeven Date Change • Oct 26
Forecast breakeven date pushed back to 2024 The 2 analysts covering Belysse Group previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 99% to 2023. The company is expected to make a profit of €8.14m in 2024. Average annual earnings growth of 118% is required to achieve expected profit on schedule. New Risk • Aug 07
New major 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 9.3% 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 (9.3% average weekly change). Market cap is less than US$100m (€35.9m market cap, or US$39.6m). Reported Earnings • Mar 04
Full year 2022 earnings released Full year 2022 results: Revenue: €337.4m (up 22% from FY 2021). Net loss: €13.3m (loss narrowed 20% from FY 2021). Revenue is forecast to stay flat during the next 2 years compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Board Change • Nov 16
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. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Tzachi Wiesenfeld was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 28
First half 2022 earnings released: €1.73 loss per share (vs €0.09 loss in 1H 2021) First half 2022 results: €1.73 loss per share (down from €0.09 loss in 1H 2021). Revenue: €164.2m (down 48% from 1H 2021). Net loss: €7.19m (loss widened 117% from 1H 2021). Over the next year, revenue is forecast to stay flat compared to a 2.0% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Tzachi Wiesenfeld was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €276.8m (down 51% from FY 2020). Net loss: €16.5m (loss widened 31% from FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 90%, compared to a 7.7% growth forecast for the industry in Germany. Reported Earnings • Aug 29
First half 2021 earnings released: €0.09 loss per share (vs €0.47 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €318.3m (up 20% from 1H 2020). Net loss: €3.32m (loss narrowed 80% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 29
Full year 2020 earnings released: €0.35 loss per share (vs €0.29 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €561.8m (down 16% from FY 2019). Net loss: €12.6m (down 221% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 11
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €561.8m (down 16% from FY 2019). Net loss: €12.6m (down 221% from profit in FY 2019). Analyst Estimate Surprise Post Earnings • Mar 11
Revenue beats expectations Revenue exceeded analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 15%, compared to a 8.3% growth forecast for the Consumer Durables industry in Germany. Is New 90 Day High Low • Feb 19
New 90-day high: €2.45 The company is up 36% from its price of €1.81 on 20 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 Consumer Durables industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.60 per share. Is New 90 Day High Low • Nov 10
New 90-day high: €1.28 The company is up 19% from its price of €1.08 on 11 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 Consumer Durables industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.05 per share. Is New 90 Day High Low • Oct 02
New 90-day low: €1.01 The company is down 9.0% from its price of €1.11 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Durables industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.04 per share.