Duyuru • Sep 04
creditshelf Aktiengesellschaft, Annual General Meeting, Oct 11, 2024 creditshelf Aktiengesellschaft, Annual General Meeting, Oct 11, 2024, at 10:00 W. Europe Standard Time. New Risk • Feb 02
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 23% 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 Less than 1 year of cash runway based on free cash flow trend (-€3.2m free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Market cap is less than US$10m (€1.35m market cap, or US$1.46m). Reported Earnings • Nov 12
Third quarter 2023 earnings released: €0.15 loss per share (vs €0.68 loss in 3Q 2022) Third quarter 2023 results: €0.15 loss per share (improved from €0.68 loss in 3Q 2022). Revenue: €2.72m (up 101% from 3Q 2022). Net loss: €210.9k (loss narrowed 78% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 01
Second quarter 2023 earnings released: €0.28 loss per share (vs €0.61 profit in 2Q 2022) Second quarter 2023 results: €0.28 loss per share (down from €0.61 profit in 2Q 2022). Revenue: €2.24m (up 35% from 2Q 2022). Net loss: €392.7k (down 147% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 52% per year, which means it is significantly lagging earnings. New Risk • Aug 18
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 16% 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 (16% average weekly change). Market cap is less than US$10m (€6.98m market cap, or US$7.59m). Duyuru • Aug 10
creditshelf Aktiengesellschaft to Report Q2, 2023 Results on Aug 31, 2023 creditshelf Aktiengesellschaft announced that they will report Q2, 2023 results on Aug 31, 2023 Breakeven Date Change • May 26
Forecast breakeven date moved forward to 2023 The analyst covering creditshelf previously expected the company to break even in 2024. New forecast suggests the company will make a profit of €600.0k in 2023. Earnings growth of 94% is required to achieve expected profit on schedule. Duyuru • May 25
creditshelf Aktiengesellschaft, Annual General Meeting, Jul 04, 2023 creditshelf Aktiengesellschaft, Annual General Meeting, Jul 04, 2023, at 11:00 Central European Standard Time. Location: Mainzer Landstraße 33a event facilities "Zwischengeschoss," 60329 Frankfurt Germany Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €12.70, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 15x in the Diversified Financial industry in Germany. Total loss to shareholders of 77% over the past three years. Duyuru • Dec 28
Creditshelf Aktiengesellschaft Revised Earnings Guidance for the Financial Year 2022 creditshelf Aktiengesellschaft adjusts its forecast for the financial year 2022. Due to delays in the implementation of conditions subsequent of a recently closed refinancing facility, in particular the conclusion of a back-up servicing agreement, this facility cannot yet be used as planned. As a result, the processing of some new business that was originally planned for this year on the basis of contracts already brokered will be postponed to the coming year. Consequently, the 2022 revenues forecast will be adjusted from EUR 7 million to EUR 8 million to EUR 6 million to EUR 7 million as well as the EBIT forecast from EUR 0 million to EUR 1 million to EUR -1 million to EUR 0 million. Major Estimate Revision • Nov 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.39 to €0.29. Revenue forecast unchanged from €7.40m at last update. Net income forecast to shrink 22% next year vs 13% decline forecast for Diversified Financial industry in Germany. Consensus price target up from €40.00 to €49.00. Share price was steady at €28.80 over the past week. Major Estimate Revision • Sep 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. Forecast profits in 2022 with EPS up from -€0.63 to €0.39 per share. Revenue forecast unchanged from last update at €7.40m. Diversified Financial industry in Germany expected to see average net income decline 15% next year. Consensus price target of €40.00 unchanged from last update. Share price fell 5.0% to €30.20 over the past week. Reported Earnings • Sep 09
Second quarter 2022 earnings released: EPS: €0.61 (vs €0.62 loss in 2Q 2021) Second quarter 2022 results: EPS: €0.61 (up from €0.62 loss in 2Q 2021). Revenue: €3.61m (up 91% from 2Q 2021). Net income: €836.8k (up €1.69m from 2Q 2021). Profit margin: 23% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Diversified Financial industry in Germany. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Duyuru • Jun 11
Creditshelf Aktiengesellschaft Updates Earnings Guidance for the Financial Year 2022 creditshelf Aktiengesellschaft updated earnings guidance for the financial year 2022. For the period, the company expects revenue forecast with a range of EUR 10 million to EUR 12 million, the compensation amount as well as increased expenses the company now expects an EBIT of EUR 0.0 to EUR 1.0 million for the current financial year (original EBIT forecast: EUR minus 0.5 million to plus EUR 0.5 million). Breakeven Date Change • May 31
Forecast breakeven date pushed back to 2024 The analyst covering creditshelf previously expected the company to break even in 2023. New forecast suggests losses will reduce by 79% per year to 2023. The company is expected to make a profit of €1.60m in 2024. Average annual earnings growth of 105% is required to achieve expected profit on schedule. Price Target Changed • May 19
Price target decreased to €58.00 Down from €63.00, the current price target is an average from 2 analysts. New target price is 78% above last closing price of €32.60. Stock is down 32% over the past year. The company is forecast to post a net loss per share of €0.035 next year compared to a net loss per share of €1.67 last year. Reported Earnings • May 12
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: €0.37 (up from €0.53 loss in 1Q 2021). Revenue: €2.70m (up 50% from 1Q 2021). Net income: €514.6k (up €1.24m from 1Q 2021). Profit margin: 19% (up from net loss in 1Q 2021). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) exceeded analyst estimates. Over the next year, revenue is forecast to grow 32%, compared to a 8.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Duyuru • May 12
Creditshelf Aktiengesellschaft Provides Consolidated Earnings Guidance for the Year 2022 creditshelf Aktiengesellschaft provided consolidated earnings guidance for the year 2022. The Management Board expects consolidated revenues of EUR 10 million to EUR 12 million for the fiscal year 2022. In addition, EBIT of EUR minus 0.5 million to EUR plus 0.5 million is expected at group level. Reported Earnings • Mar 31
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: €1.67 loss per share (up from €3.92 loss in FY 2020). Revenue: €8.03m (up 51% from FY 2020). Net loss: €2.29m (loss narrowed 57% from FY 2020). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 36%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Duyuru • Mar 31
creditshelf Aktiengesellschaft Provides Consolidated Earnings Guidance for the Year 2022 creditshelf Aktiengesellschaft provided consolidated earnings guidance for the year 2022. The Management Board expects consolidated revenues of EUR 10 million to EUR 12 million for the fiscal year 2022. In addition, EBIT of EUR minus 0.5 million to EUR plus 0.5 million is expected at group level. Break-even at EBIT level is thus within reach. Price Target Changed • Feb 10
Price target decreased to €60.00 Down from €65.50, the current price target is an average from 2 analysts. New target price is 94% above last closing price of €31.00. Stock is down 30% over the past year. The company is forecast to post a net loss per share of €2.49 next year compared to a net loss per share of €3.92 last year. Duyuru • Feb 03
creditshelf Aktiengesellschaft Provides Earnings Guidance for the Full Financial Year 2021 creditshelf Aktiengesellschaft provided earnings guidance for the full financial year 2021. Based on preliminary, unaudited figures, the company achieved a group EBIT of minus EUR 2.2 million (previous year: minus EUR 5.3 million) in the 2021 financial year. Group revenues are expected to amount to EUR 7.3 million (previous year: EUR 4.9 million). Duyuru • Feb 02
creditshelf Aktiengesellschaft to Report Fiscal Year 2021 Final Results on Mar 30, 2022 creditshelf Aktiengesellschaft announced that they will report fiscal year 2021 final results on Mar 30, 2022 Reported Earnings • Nov 13
Third quarter 2021 earnings released: €0.41 loss per share (vs €0.85 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: €1.73m (up 33% from 3Q 2020). Net loss: €564.2k (loss narrowed 51% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 10
Second quarter 2021 earnings released: €0.62 loss per share (vs €0.73 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: €1.89m (down 2.2% from 2Q 2020). Net loss: €855.3k (loss narrowed 13% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Duyuru • Sep 09
creditshelf Aktiengesellschaft Provides Earning Guidance for the Year 2021 creditshelf Aktiengesellschaft provided earning guidance for the year 2021. The range for group revenue remains unchanged at EUR 6 million to EUR 8 million. Also unchanged, the Management Board expects negative group EBIT of minus EUR 3 million to minus EUR 4 million. Reported Earnings • May 14
First quarter 2021 earnings released: EPS €0.53 (vs €1.57 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: €1.80m (up 138% from 1Q 2020). Net loss: €727.4k (loss narrowed 66% from 1Q 2020). Executive Departure • May 01
Chief Risk Officer & Member of Management Board has left the company On the 30th of April, Mark Wahrisch's tenure in the role of Chief Risk Officer & Member of Management Board ended. We don't have any record of a personal shareholding under Mark's name. Mark is the only executive to leave the company over the last 12 months. Major Estimate Revision • Apr 09
Consensus revenue estimates fall to €7.20m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from €9.54m to €7.20m. Forecast losses increased from -€0.83 to -€2.89 per share. Diversified Financial industry in Germany expected to see average net income growth of 16% next year. Consensus price target down from €69.00 to €66.67. Share price rose 5.2% to €48.80 over the past week. Reported Earnings • Mar 31
Full year 2020 earnings released: €3.92 loss per share (vs €3.73 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: €6.26m (up 31% from FY 2019). Net loss: €5.33m (loss widened 7.2% from FY 2019). Is New 90 Day High Low • Feb 13
New 90-day high: €47.00 The company is up 2.0% from its price of €46.00 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 18% over the same period. Duyuru • Jan 14
creditshelf Aktiengesellschaft to Report Fiscal Year 2020 Results on Mar 30, 2021 creditshelf Aktiengesellschaft announced that they will report fiscal year 2020 results on Mar 30, 2021 Is New 90 Day High Low • Dec 29
New 90-day low: €40.00 The company is down 20% from its price of €50.00 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial 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 per share. Duyuru • Nov 20
creditshelf Aktiengesellschaft to Report Q1, 2021 Results on May 12, 2021 creditshelf Aktiengesellschaft announced that they will report Q1, 2021 results on May 12, 2021 Major Estimate Revision • Nov 19
Analysts lower revenue estimates to €5.60m The 2020 consensus revenue estimate decreased from €7.21m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -€3.07 to -€3.45 for the same period. The Diversified Financial industry in Germany is expected to see an average net income growth of 2.0% next year. The consensus price target of €71.67 was unchanged from the last update. Share price is up 5.3% to €44.00 over the past week. Reported Earnings • Nov 13
Third quarter 2020 earnings released: €0.85 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: €1.81m (up 149% from 3Q 2019). Net loss: €1.15m (loss narrowed 17% from 3Q 2019). Is New 90 Day High Low • Nov 05
New 90-day low: €42.60 The company is down 15% from its price of €50.00 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Diversified Financial industry, which is down 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Oct 16
New 90-day low: €47.00 The company is down 8.0% from its price of €51.00 on 17 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Diversified Financial industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
