Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €32.65, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 9x in the Specialty Retail industry in Germany. Total returns to shareholders of 250% over the past three years. New Risk • Dec 31
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 7.9% 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: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (21% increase in shares outstanding). Duyuru • May 09
CCC S.A., Annual General Meeting, Jun 04, 2025 CCC S.A., Annual General Meeting, Jun 04, 2025. Reported Earnings • Sep 25
Second quarter 2025 earnings released: EPS: zł3.96 (vs zł0.49 in 2Q 2024) Second quarter 2025 results: EPS: zł3.96 (up from zł0.49 in 2Q 2024). Revenue: zł2.59b (up 6.8% from 2Q 2024). Net income: zł272.8m (up zł239.1m from 2Q 2024). Profit margin: 11% (up from 1.4% in 2Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Specialty Retail industry in Germany. Buy Or Sell Opportunity • Sep 08
Now 20% undervalued Over the last 90 days, the stock has risen 4.4% to €34.74. The fair value is estimated to be €43.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 37% per annum over the same time period. Buy Or Sell Opportunity • Jul 17
Now 25% undervalued Over the last 90 days, the stock has risen 50% to €27.42. The fair value is estimated to be €36.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 38% per annum over the same time period. Reported Earnings • Jun 14
First quarter 2025 earnings released: EPS: zł0.86 (vs zł2.54 loss in 1Q 2024) First quarter 2025 results: EPS: zł0.86 (up from zł2.54 loss in 1Q 2024). Revenue: zł2.26b (up 9.6% from 1Q 2024). Net income: zł59.2m (up zł199.5m from 1Q 2024). Profit margin: 2.6% (up from net loss in 1Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Duyuru • May 23
CCC S.A., Annual General Meeting, Jun 20, 2024 CCC S.A., Annual General Meeting, Jun 20, 2024. New Risk • Apr 17
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: Major Risk Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Reported Earnings • Apr 11
Full year 2024 earnings released Full year 2024 results: Revenue: zł9.44b (up 3.5% from FY 2023). Net loss: zł56.1m (loss narrowed 85% from FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 01
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: zł2.43b (flat on 3Q 2023). Net income: zł5.10m (up zł70.0m from 3Q 2023). Profit margin: 0.2% (up from net loss in 3Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe. Reported Earnings • Oct 13
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł2.42b (up 2.0% from 2Q 2023). Net income: zł33.7m (up zł80.7m from 2Q 2023). Profit margin: 1.4% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Oct 01
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 6.0% 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 High level of debt (288% net debt to equity). Share price has been volatile over the past 3 months (6.0% average weekly change). Shareholders have been diluted in the past year (26% increase in shares outstanding). Buying Opportunity • Aug 09
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.8%. The fair value is estimated to be €13.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 18% in a year. Earnings is forecast to grow by 92% in the next year. Reported Earnings • Jun 17
First quarter 2024 earnings released First quarter 2024 results: Revenue: zł2.06b (up 9.7% from 1Q 2023). Net loss: zł140.3m (loss narrowed 14% from 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Duyuru • Jun 07
CCC Footwear Announces Resignation of Adam Holewa as Deputy CEO, Effective June 12, 2023 CCC Footwear announced that Adam Holewa resigned from his post of deputy CEO and his seat on the management board as of June 12, 2023. Duyuru • May 13
CCC S.A. Announces CEO Changes CCC S.A. tapped its founder and long-time supervisory board chairman Dariusz Milek as the new CEO, while to-date helmsman Marcin Czyczerski was entrusted with the top position at CCC's unit Modivo. Dariusz Milek in the new role will supervise further growth of the CCC and HalPrice brands, while Marcin Czyczerski will be responsible for increasing Modivo's scale of business, improving its profitability and ultimately floating the company on the WSE. Reported Earnings • Apr 20
Full year 2023 earnings released: zł7.32 loss per share (vs zł4.60 loss in FY 2022) Full year 2023 results: zł7.32 loss per share (further deteriorated from zł4.60 loss in FY 2022). Revenue: zł9.12b (up 20% from FY 2022). Net loss: zł401.5m (loss widened 59% from FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Duyuru • Jan 19
CCC Footwear Fires Kryspin Derejczyk as CFO Footwear group CCC decided to dismiss CFO Kryspin Derejczyk, the company said in a market filing, citing a supervisory board resolution. Derejczyk's duties in the area of finance and accountancy will be taken over by head of financial supervision at CCC units and CFO at unit Half Price Lukasz Stelmach, CCC said. Within the management board, the area will be supervised by CEO Marcin Czyczerski. Reported Earnings • Dec 04
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł2.42b (up 18% from 3Q 2022). Net loss: zł64.9m (loss narrowed 55% from 3Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Duyuru • Nov 25
CCC S.A. Provides Revenue Guidance for the Year 2023 CCC S.A. provided revenue guidance for the year 2023. For the year, the company expects group revenues will grow. The company have grounds to expects 2023 will be better than 2022 in terms of results. Reported Earnings • Oct 28
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł2.38b (up 67% from 2Q 2022). Net loss: zł47.0m (loss narrowed 68% from 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has fallen by 36% per year whereas the company’s share price has fallen by 33% per year. Duyuru • Sep 23
CCC S.A. to Report Q2, 2023 Results on Oct 25, 2022 CCC S.A. announced that they will report Q2, 2023 results on Oct 25, 2022 Duyuru • Sep 13
CCC S.A. announced that it expects to receive PLN 492.24 million in funding from ULTRO spolka z ogarniczona odpowiedzialnoscia CCC S.A. announced a private placement of 14,000,000 series L shares at a price of PLN 35.16 per share for gross proceeds of PLN 492,240,000 on September 12, 2022. The transaction will include participation from returning investor ULTRO spolka z ogarniczona odpowiedzialnoscia. The transaction is subject to approval in Extraordinary General Meeting of shareholders. Duyuru • May 21
CCC S.A., Annual General Meeting, Jun 15, 2022 CCC S.A., Annual General Meeting, Jun 15, 2022, at 12:00 Central European Standard Time. Duyuru • May 18
Ccc S.A. Provides Revenue Guidance for the Year 2022 CCC S.A. provided revenue guidance for the year 2022. For the year, the company annual revenue forecast maintained at PLN 9 billion -10 billion. Duyuru • Feb 25
CCC S.A. Closes Ukrainian Shops, Halts Deliveries CCC S.A. closed all its shops in Ukraine and halted supplies to those stores.