Declared Dividend • May 21
First half dividend of UK£0.01 announced Shareholders will receive a dividend of UK£0.01. Ex-date: 4th June 2026 Payment date: 10th July 2026 Dividend yield will be 9.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (113% earnings payout ratio). However, it is well covered by cash flows (25% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 25% to bring the payout ratio under control. EPS is expected to grow by 122% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Buy Or Sell Opportunity • May 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 21% to €0.37. The fair value is estimated to be €0.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 7.3% in 2 years. Earnings are forecast to grow by 137% in the next 2 years. Duyuru • Dec 18
Topps Tiles Plc, Annual General Meeting, Jan 15, 2026 Topps Tiles Plc, Annual General Meeting, Jan 15, 2026. Location: the marriott hotel, smith way, grove park, leicester, le19 1sw, United Kingdom Duyuru • May 22
Topps Tiles plc Declares Interim Dividend for the Period of 26 Weeks Ended 29 March 2025, Payable on 11 July 2025 Topps Tiles Plc declared an interim dividend of 0.80 pence (2024: 1.20 pence) per ordinary share has been declared for the period of 26 weeks ended 29 March 2025. The shares will trade ex-dividend on 5 June 2025 and the dividend will be paid on 11 July 2025. The Board expects to continue to apply its dividend policy at the full year and therefore maintain full year dividend payments at a level which is at least consistent with Fiscal Year 2024. Duyuru • Jan 09
Rob Parker Intends to Retire as CEO of Topps Tiles plc Topps Tiles Plc announced that following an extended period of consideration, Rob Parker, CEO, has notified the Board of his intention to retire from the business after 18 years with the Group. Rob joined the Group in 2007 and served as CFO for 12 years before becoming CEO in 2019. The Nominations Committee has therefore activated its succession plan and, with the support of external consultants, has commenced the search process for a new Chief Executive Officer. Rob will remain in post until an appropriate successor has been appointed, to ensure an orderly transfer of responsibilities, which is expected to be towards the end of 2025. Duyuru • Jan 06
Topps Tiles Plc to Report First Half, 2025 Results on May 20, 2025 Topps Tiles Plc announced that they will report first half, 2025 results on May 20, 2025 Duyuru • Dec 16
Topps Tiles Plc, Annual General Meeting, Jan 15, 2025 Topps Tiles Plc, Annual General Meeting, Jan 15, 2025. Location: the marriott hotel, grove park, smith way, leicester, le19 1sw, United Kingdom New Risk • Nov 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €90.4m (US$95.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (dividend per share is over 13x earnings per share). Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (€90.4m market cap, or US$95.4m). Duyuru • Oct 02
Topps Tiles Plc to Report Fiscal Year 2024 Results on Nov 26, 2024 Topps Tiles Plc announced that they will report fiscal year 2024 results on Nov 26, 2024 Duyuru • Sep 20
Topps Tiles plc Announces Board Changes, Effective on October 1, 2024 Topps Tiles Plc announced the appointment of Martin Payne as an independent non-executive director and Audit Committee Chair Designate. Martin will join the board of directors of Topps Group on 1 October 2024 and will succeed Keith Down as Audit Committee Chair at the AGM in January 2025, at which point Keith will retire from the Board after having served his term under the UK Corporate Governance Code. Martinbrings over 35 years of experience as an executive and non-executive in both private and public businesses. A qualified management accountant, Martin served as CFO and CEO of Genuit Group plc, the FTSE250 building materials group, retiring in May 2022. Prior to that he was CFO of Norcros plc where he gained experience of tile retailing and manufacturing in UK and South Africa. Martin is currently a non-executive director of Stelrad Group plc, Europe's largest radiator manufacturer, where he is Chair of the Audit Committee. He is also a non-executive director of Churchill China plc, the AIM listed international tableware manufacturer, where he is Audit Committee chair and SID. Previously, Martin also spent two years as Chair of the Construction Products Association, the trade association representing UK building materials manufacturers. Declared Dividend • May 23
First half dividend of UK£0.012 announced Shareholders will receive a dividend of UK£0.012. Ex-date: 7th June 2024 Payment date: 12th July 2024 Dividend yield will be 8.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 13x earnings). However, it is well covered by cash flows (30% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 1,396% to bring the payout ratio under control. EPS is expected to grow by 444% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Apr 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €92.5m (US$98.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (220% payout ratio). Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (€92.5m market cap, or US$98.5m). Duyuru • Dec 21
Topps Tiles Plc, Annual General Meeting, Jan 18, 2024 Topps Tiles Plc, Annual General Meeting, Jan 18, 2024, at 09:30 Coordinated Universal Time. Location: Marriott Hotel, Smith Way, Grove Park, Leicester United Kingdom Upcoming Dividend • Dec 14
Upcoming dividend of UK£0.024 per share at 7.2% yield Eligible shareholders must have bought the stock before 21 December 2023. Payment date: 02 February 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.2%. Within top quartile of German dividend payers (5.2%). Higher than average of industry peers (2.8%). Reported Earnings • Nov 29
Full year 2023 earnings released: EPS: UK£0.016 (vs UK£0.046 in FY 2022) Full year 2023 results: EPS: UK£0.016 (down from UK£0.046 in FY 2022). Revenue: UK£262.7m (up 6.3% from FY 2022). Net income: UK£3.21m (down 64% from FY 2022). Profit margin: 1.2% (down from 3.6% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Germany. Duyuru • Nov 29
Topps Tiles plc Proposes Final Dividend, Payable on 2 February 2024 Topps Tiles Plc proposed a final dividend of 2.4 pence, bringing the full year dividend to 3.6 pence, in line with last year and representing 80% of adjusted earnings per share. The shares will trade ex-dividend on 21 December 2023 and, subject to approval from shareholders at the Annual General Meeting in January 2024, the dividend will be payable on 2 February 2024. Duyuru • Nov 21
Topps Tiles plc Announces Board Changes Topps Tiles Plc announced the appointment of Denise Jagger as an independent non-executive director, Senior Independent Director Designate and Chair of the Sustainability Committee of the Company. Denise will join the board of directors of Topps Group (the "Board") on 1 February 2024 and will succeed Keith Down as Senior Independent Director at the AGM in January 2025, at which point Keith will retire from the Board after having served his term under the UK Corporate Governance Code. Denise is an experienced non-executive director, with a track record in non-executive roles, in both public and private businesses, stretching over 25 years. She is currently a non-executive director at Reach and CLS Holdings, and was previously a non-executive at Redrow, SCS Upholstery and Scarborough Building Society. Denise was also a non-executive director and SID at Bellway and Pool Re, having retired from the latter in September 2023. Denise is currently Senior Independent Director at Reach. A qualified solicitor, she was previously Company Secretary and General Counsel at Asda Walmart and is currently a Trustee of the National Trust and the recently retired Chair of the University of York. Duyuru • Nov 10
Topps Tiles Plc to Report Fiscal Year 2023 Results on Nov 28, 2023 Topps Tiles Plc announced that they will report fiscal year 2023 results on Nov 28, 2023 Upcoming Dividend • Jun 01
Upcoming dividend of UK£0.012 per share at 6.7% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 14 July 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.7%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.8%). Reported Earnings • May 24
First half 2023 earnings released: EPS: UK£0.003 (vs UK£0.021 in 1H 2022) First half 2023 results: EPS: UK£0.003 (down from UK£0.021 in 1H 2022). Revenue: UK£130.3m (up 9.3% from 1H 2022). Net income: UK£482.0k (down 89% from 1H 2022). Profit margin: 0.4% (down from 3.5% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Specialty Retail industry in Germany. Duyuru • May 23
Topps Tiles plc Declares Interim Dividend for First Half Year of 2023 Payable on 14 July 2023 Topps Tiles Plc announced an interim dividend of 1.20 pence (2022: 1.00 pence) per ordinary share has been declared. The shares will trade ex-dividend on 8 June 2023 and the dividend will be paid on 14 July 2023. Duyuru • May 19
Topps Tiles plc Appoints Paul Forman as an Independent Non-Executive Director and Chair Designate of the Company Topps Tiles Plc announced the appointment of Paul Forman as an independent non-executive director and Chair Designate of the Company. As detailed in the 2022 Annual Report, Darren Shapland is now in his ninth year as Chair and, therefore, nearing the end of his maximum term under the UK Corporate Governance Code. To this end, the Nominations Committee, led by Keith Down, the Company's Senior Independent Director, commenced a Chair succession plan which has now been successfully concluded with the appointment of Paul Forman. Paul will join the board of directors of Topps (the "Board") on 1 July 2023, to allow for an orderly transition of responsibilities, and he will succeed Darren Shapland as Chair at the start of the Company's new financial year on 1 October 2023, at which point Darren will retire from the Board. Paul is an experienced director of both listed and private equity-backed businesses, gained in a variety of executive and non-executive roles. His experience includes chief executive roles at three FTSE250 businesses: Essentra PLC, Coats Group PLC and Low & Bonar PLC. He is also a former non-executive director of Brammer PLC.He is currently Senior Independent Director at Tate & Lyle PLC and Chair Designate at FSI, the private equity-backed flavours and fragrances business. Duyuru • May 14
Topps Tiles Plc to Report First Half, 2023 Results on May 23, 2023 Topps Tiles Plc announced that they will report first half, 2023 results on May 23, 2023 Upcoming Dividend • Dec 15
Upcoming dividend of UK£0.026 per share Eligible shareholders must have bought the stock before 22 December 2022. Payment date: 03 February 2023. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 7.5%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (4.0%). Duyuru • Dec 08
Topps Tiles Plc Receives Requisition Notice from Lynchwood Nominees Limited On December 7, 2022, Topps Tiles Plc announced that it has received a requisition notice from Lynchwood Nominees Limited, requesting the Company's annual general meeting proposed to be held on 18 January 2023 that to remove Darren Shapland from office as a director of the Company, and from the position of Non-Executive Chairman of the Company and to appoint Lidia Wolfinger and Michael Bartusiak as a non-executive director of the Company with immediate effect. Duyuru • Dec 07
Topps Tiles Plc, Annual General Meeting, Jan 18, 2023 Topps Tiles Plc, Annual General Meeting, Jan 18, 2023. Agenda: To discuss Darren Shapland be removed from office as a director of the Company and from the position of Non-Executive Chairman of the Company with immediate effect; to discuss Lidia Wolfinger having consented to act, be appointed as a non-executive director of the Company; and to discuss Michael Bartusiak having consented to act be appointed as a non-executive director of the Company. Reported Earnings • Nov 30
Full year 2022 earnings released: EPS: UK£0.046 (vs UK£0.056 in FY 2021) Full year 2022 results: EPS: UK£0.046 (down from UK£0.056 in FY 2021). Revenue: UK£247.2m (up 8.4% from FY 2021). Net income: UK£9.01m (down 17% from FY 2021). Profit margin: 3.6% (down from 4.8% in FY 2021). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 9.4% vs FY 2021 Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Specialty Retail industry in Germany. Duyuru • Nov 29
Topps Tiles plc Proposes Final Dividend for the Year 2022, Payable on 3 February 2023 The Board of Topps Tiles Plc proposing a final dividend of 2.6 pence per share, bringing the full year dividend to 3.6 pence per share, a year on year increase of 16.1%. This represents 59% of the adjusted earnings per share of 6.14 pence. The shares will trade ex-dividend on 22 December 2022 and, subject to approval at the Annual General Meeting, the dividend will be payable on 3 February 2023. Board Change • Nov 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Chairman Darren Shapland was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Sep 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €0.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Jun 02
Upcoming dividend of UK£0.01 per share Eligible shareholders must have bought the stock before 09 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.2%). Higher than average of industry peers (2.9%). Reported Earnings • May 25
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down UK£3.04m from profit in 1H 2021). Profit margin: (down from 2.9% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to stay flat compared to a 9.8% growth forecast for the industry in Germany. Duyuru • May 24
Topps Tiles plc Declares Interim Dividend, to Be Paid on 15 July 2022 Topps Tiles Plc is declaring an interim dividend of 1.0 pence per share (H1 2021: nil). The shares will trade ex-dividend on 9 June 2022 and the dividend will be paid on 15 July 2022. Board Change • Apr 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Chairman Darren Shapland was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Dec 02
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: UK£0.056 (up from UK£0.041 loss in FY 2020). Revenue: UK£228.0m (up 18% from FY 2020). Net income: UK£10.9m (up UK£18.8m from FY 2020). Profit margin: 4.8% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Like-for-like sales growth: 19.6% vs FY 2020 Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 2.3%, compared to a 18% growth forecast for the retail industry in Germany. Duyuru • Sep 24
Topps Tiles Unsponsored ADR to Be Deleted from Other OTC Topps Tiles Plc Unsponsored ADR (United Kingdom) will be deleted from Other OTC effective from September 23, 2021, due to ADR /GDR Program Terminated. Executive Departure • Jun 19
Independent Non-Executive Director Claire Tiney has left the company On the 16th of June, Claire Tiney's tenure as Independent Non-Executive Director ended after 9.6 years in the role. As of March 2021, Claire still personally held only 15.48k shares (€12k worth at the time). Claire is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.29 years. Reported Earnings • May 22
First half 2021 earnings released: EPS UK£0.016 (vs UK£0.015 loss in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: UK£103.2m (down 2.8% from 1H 2020). Net income: UK£3.04m (up UK£5.96m from 1H 2020). Profit margin: 2.9% (up from net loss in 1H 2020). Duyuru • Jan 21
Topps Tiles Plc, Annual General Meeting, Jan 20, 2021 Topps Tiles Plc, Annual General Meeting, Jan 20, 2021. 
