New Risk • Jun 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.0x 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 (2.0x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.6% net profit margin). Shareholders have been diluted in the past year (32% increase in shares outstanding). Market cap is less than US$100m (€43.0m market cap, or US$46.2m). New Risk • May 30
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 54% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks High level of debt (54% net debt to equity). Profit margins are more than 30% lower than last year (6.7% net profit margin). Shareholders have been diluted in the past year (32% increase in shares outstanding). Market cap is less than US$100m (€42.9m market cap, or US$46.4m). New Risk • May 17
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 French stocks, typically moving 12% 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 (12% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.5% net profit margin). Shareholders have been diluted in the past year (32% increase in shares outstanding). Market cap is less than US$100m (€42.3m market cap, or US$45.9m). Reported Earnings • Jan 02
Full year 2023 earnings released: EPS: €0.29 (vs €0.47 in FY 2022) Full year 2023 results: EPS: €0.29 (down from €0.47 in FY 2022). Revenue: €13.2m (up 14% from FY 2022). Net income: €701.7k (down 30% from FY 2022). Profit margin: 5.3% (down from 8.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. New Risk • Dec 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended February 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 High level of debt (150% net debt to equity). Latest financial reports are more than 6 months old (reported February 2023 fiscal period end). Shareholders have been diluted in the past year (34% increase in shares outstanding). Market cap is less than US$100m (€31.4m market cap, or US$34.6m). Duyuru • Oct 13
Osmozis SA (ENXTPA:ALOSM) acquired Campingconnect Ltd. Osmozis SA (ENXTPA:ALOSM) acquired Campingconnect Ltd on October 11, 2023.Osmozis SA (ENXTPA:ALOSM) completed the acquisition of Campingconnect Ltd on October 11, 2023. Reported Earnings • Dec 17
Full year 2022 earnings released Full year 2022 results: Revenue: €11.6m (up 21% from FY 2021). Net income: €1.01m (up 1.7% from FY 2021). Profit margin: 8.7% (down from 10% in FY 2021). The decrease in margin was driven by higher expenses. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Assistant CEO, Director & Co-Founder Yves Boulot was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €7.64, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 21x in the Communications industry in France. Total loss to shareholders of 21% over the past three years. Price Target Changed • Apr 27
Price target increased to €9.50 Up from €8.30, the current price target is provided by 1 analyst. New target price is 18% above last closing price of €8.06. Stock is up 55% over the past year. The company is forecast to post earnings per share of €1.17 for next year compared to €0.46 last year. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Assistant CEO, Director & Co-Founder Yves Boulot was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Price Target Changed • Jan 14
Price target increased to €9.50 Up from €8.00, the current price target is provided by 1 analyst. New target price is 24% above last closing price of €7.65. Stock is up 39% over the past year. The company is forecast to post earnings per share of €1.07 for next year compared to €0.46 last year. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 22% share price gain to €8.20, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 24x in the Communications industry in Europe. Total returns to shareholders of 10% over the past three years. Reported Earnings • Dec 24
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €0.46 (up from €0.92 loss in FY 2020). Revenue: €10.0m (up 21% from FY 2020). Net income: €990.4k (up €2.96m from FY 2020). Profit margin: 9.9% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 22%, compared to a 21% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Dec 24
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €0.46 (up from €0.92 loss in FY 2020). Revenue: €10.0m (up 21% from FY 2020). Net income: €990.4k (up €2.96m from FY 2020). Profit margin: 9.9% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 22%, compared to a 21% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Price Target Changed • Oct 13
Price target increased to €8.00 Up from €6.70, the current price target is provided by 1 analyst. New target price is 40% above last closing price of €5.70. Stock is up 6.5% over the past year. Reported Earnings • Jun 05
First half 2021 earnings released: €0.22 loss per share (vs €0.52 loss in 1H 2020) The company reported a decent first half result with reduced losses and improved control over expenses, although revenues were flat. First half 2021 results: Revenue: €3.11m (flat on 1H 2020). Net loss: €479.0k (loss narrowed 57% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 14% per year. Is New 90 Day High Low • Dec 31
New 90-day high: €6.50 The company is up 19% from its price of €5.45 on 02 October 2020. The French market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Communications industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improved over the past week After last week's 15% share price gain to €6.50, the stock is trading at a trailing P/E ratio of 40.1x, up from the previous P/E ratio of 34.8x. This compares to an average P/E of 34x in the Communications industry in France. Total return to shareholders over the past three years is a loss of 19%. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 20% share price gain to €5.75, the stock is trading at a trailing P/E ratio of 35.4x, up from the previous P/E ratio of 29.6x. This compares to an average P/E of 34x in the Communications industry in France. Total return to shareholders over the past three years is a loss of 36%. Valuation Update With 7 Day Price Move • Oct 19
Market pulls back on stock over the past week After last week's 16% share price decline to €5.05, the stock is trading at a trailing P/E ratio of 31.1x, down from the previous P/E ratio of 37x. This compares to an average P/E of 34x in the Communications industry in France. Total return to shareholders over the past three years is a loss of 45%. Is New 90 Day High Low • Oct 19
New 90-day low: €5.05 The company is down 27% from its price of €6.95 on 21 July 2020. The French market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 11% over the same period. Is New 90 Day High Low • Sep 23
New 90-day low: €5.30 The company is down 28% from its price of €7.35 on 25 June 2020. The French market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 18% over the same period.