New Risk • Aug 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x 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 Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 05
Second quarter 2026 earnings released: EPS: €0.18 (vs €0.15 loss in 2Q 2025) Second quarter 2026 results: EPS: €0.18 (up from €0.15 loss in 2Q 2025). Revenue: €478.9m (up 17% from 2Q 2025). Net income: €11.2m (up €20.4m from 2Q 2025). Profit margin: 2.3% (up from net loss in 2Q 2025). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. New Risk • Jun 26
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 British stocks, typically moving 7.8% 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 (58% net debt to equity). Dividend is not well covered by earnings (187% payout ratio). Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Buy Or Sell Opportunity • May 12
Now 22% undervalued Over the last 90 days, the stock has risen 36% to €5.86. The fair value is estimated to be €7.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 2.5% in a year. Earnings are forecast to grow by 807% in the next year. Reported Earnings • May 11
First quarter 2026 earnings released: EPS: €0.23 (vs €0.055 in 1Q 2025) First quarter 2026 results: EPS: €0.23 (up from €0.055 in 1Q 2025). Revenue: €430.0m (up 1.6% from 1Q 2025). Net income: €14.7m (up 322% from 1Q 2025). Profit margin: 3.4% (up from 0.8% in 1Q 2025). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 06
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 13 May 2026. Payment date: 15 May 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.7%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (3.6%). Reported Earnings • Mar 28
Full year 2025 earnings released: €0.10 loss per share (vs €2.18 loss in FY 2024) Full year 2025 results: €0.10 loss per share (improved from €2.18 loss in FY 2024). Revenue: €1.64b (down 9.0% from FY 2024). Net loss: €6.15m (loss narrowed 96% from FY 2024). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. New Risk • Mar 27
New major risk - Revenue and earnings growth Earnings have declined by 37% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 37% per year over the past 5 years. Duyuru • Jan 29
ElringKlinger AG to Report Fiscal Year 2025 Results on Mar 26, 2026 ElringKlinger AG announced that they will report fiscal year 2025 results on Mar 26, 2026 Duyuru • Jan 16
Elringklinger AG Announces Executive Changes, Effective 2026 The Supervisory Board of ElringKlinger AG has appointed Ulrich Zimmer to the Group Management Board. Zimmer will take on the responsibilities of Reiner Drews, who is stepping down from the Management Board at his own request upon completion of his contract following a successful 19-year tenure at ElringKlinger on March 31, 2026. As Chief Operating Officer, Ulrich Zimmer will oversee the Lightweighting/Elastomer Technology, Metal Sealing Systems & Drivetrain Components, and Metal Forming & Assembly Technology business units, in addition to the corporate units Production, Quality, Purchasing, Real Estate, and Supply Chain Management as well as the area of Innovation and R&D. Ulrich Zimmer (55) currently holds the position of Senior Vice President R&D at Traton SE within the Volkswagen Group and is responsible for Traton’s German R&D sites in his role as Managing Director. Among his accomplishments in this capacity is the establishment of a global R&D organization in the field of electromobility. Prior to this, Ulrich Zimmer headed Powertrain production at MAN Truck & Bus SE for six years. Before joining MAN in 2017, he held management positions at Daimler Truck for many years. In this context, he was also responsible for large-scale production units with complex operational processes at various sites. He will take on his new responsibilities at ElringKlinger in the course of 2026. Ulrich Zimmer holds a degree in physics from Eberhard-Karls-Universität Tübingen and has successfully completed leadership programs at IMD Lausanne, ESMT Berlin, IESE Barcelona, and HEC Paris. Zimmer is due to take up his new post in the course of 2026. New Risk • Nov 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.9x 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 (0.9x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Reported Earnings • Nov 16
Third quarter 2025 earnings released: €0.07 loss per share (vs €0.89 loss in 3Q 2024) Third quarter 2025 results: €0.07 loss per share (improved from €0.89 loss in 3Q 2024). Revenue: €395.5m (down 10% from 3Q 2024). Net loss: €4.44m (loss narrowed 92% from 3Q 2024). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. New Risk • Aug 12
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 57% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk High level of debt (57% net debt to equity). Reported Earnings • Aug 07
Second quarter 2025 earnings released: €0.15 loss per share (vs €0.15 profit in 2Q 2024) Second quarter 2025 results: €0.15 loss per share (down from €0.15 profit in 2Q 2024). Revenue: €408.3m (down 8.2% from 2Q 2024). Net loss: €9.24m (down 194% from profit in 2Q 2024). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 18% per year. Upcoming Dividend • May 12
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (3.7%). Reported Earnings • May 09
First quarter 2025 earnings released: EPS: €0.06 (vs €0.21 in 1Q 2024) First quarter 2025 results: EPS: €0.06 (down from €0.21 in 1Q 2024). Revenue: €423.1m (down 9.1% from 1Q 2024). Net income: €3.49m (down 74% from 1Q 2024). Profit margin: 0.8% (down from 2.9% in 1Q 2024). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 13% per year. Duyuru • Apr 09
ElringKlinger AG, Annual General Meeting, May 16, 2025 ElringKlinger AG, Annual General Meeting, May 16, 2025, at 10:00 W. Europe Standard Time. Duyuru • Apr 04
ElringKlinger AG Announces Executive Changes, Effective August 1, 2025 The Supervisory Board of ElringKlinger AG has appointed Isabelle Damen to the Group Management Board effective from August 1, 2025. The Dutch-born executive is to take over the role of Chief Financial Officer from CEO Thomas Jessulat, who had initially retained the position of CFO alongside his duties as the newly appointed CEO. In addition to covering matters generally associated with financial management, Isabelle Damen will also be responsible for IT and Legal & Compliance. Isabelle Damen (51) currently holds the position of CFO at Teijin Aramid B.V., a subsidiary of the Japanese multi-national group Teijin Ltd., where she is responsible for the areas of Finance, Legal, and Continuous Improvement. Before joining Teijin Aramid B.V. in 2020, she held management positions at Sensata Technologies and Thales B.V., among others. Isabelle Damen has a Bachelor’s degree from the Amsterdam Business School and an MBA from the ESADE Business School in Barcelona. Declared Dividend • Mar 31
Dividend of €0.15 announced Dividend of €0.15 is the same as last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 3.2%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend 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. Duyuru • Mar 30
ElringKlinger AG announces Annual dividend, payable on May 21, 2025 ElringKlinger AG announced Annual dividend of EUR 0.1500 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025. Reported Earnings • Mar 28
Full year 2024 earnings released: €2.18 loss per share (vs €0.62 profit in FY 2023) Full year 2024 results: €2.18 loss per share (down from €0.62 profit in FY 2023). Revenue: €1.80b (down 2.4% from FY 2023). Net loss: €137.8m (down 451% from profit in FY 2023). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 14
Third quarter 2024 earnings released: €0.89 loss per share (vs €0.12 profit in 3Q 2023) Third quarter 2024 results: €0.89 loss per share (down from €0.12 profit in 3Q 2023). Revenue: €440.8m (down 2.4% from 3Q 2023). Net loss: €56.2m (down €63.9m from profit in 3Q 2023). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €4.76, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 10x in the Auto Components industry in the United Kingdom. Total loss to shareholders of 59% over the past three years. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: €0.15 (vs €0.04 in 2Q 2023) Second quarter 2024 results: EPS: €0.15 (up from €0.04 in 2Q 2023). Revenue: €445.0m (down 5.1% from 2Q 2023). Net income: €9.81m (up 314% from 2Q 2023). Profit margin: 2.2% (up from 0.5% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Auto Components industry in the United Kingdom. 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 33% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 10
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 17 May 2024. Payment date: 21 May 2024. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.4%). Reported Earnings • May 09
First quarter 2024 earnings released: EPS: €0.21 (vs €0.10 in 1Q 2023) First quarter 2024 results: EPS: €0.21 (up from €0.10 in 1Q 2023). Revenue: €465.3m (down 4.6% from 1Q 2023). Net income: €13.3m (up 100% from 1Q 2023). Profit margin: 2.9% (up from 1.4% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Auto Components industry in the United Kingdom. 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 24% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: €0.62 (vs €1.41 loss in FY 2022) Full year 2023 results: EPS: €0.62 (up from €1.41 loss in FY 2022). Revenue: €1.85b (up 2.7% from FY 2022). Net income: €39.3m (up €128.4m from FY 2022). Profit margin: 2.1% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Declared Dividend • Mar 28
Dividend of €0.15 announced Dividend of €0.15 is the same as last year. Ex-date: 17th May 2024 Payment date: 21st May 2024 Dividend yield will be 2.5%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 117% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €6.02, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 9x in the Auto Components industry in the United Kingdom. Total loss to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.26 per share. Duyuru • Mar 15
ElringKlinger AG to Report Fiscal Year 2023 Results on Mar 27, 2024 ElringKlinger AG announced that they will report fiscal year 2023 results on Mar 27, 2024 Duyuru • Feb 27
ElringKlinger AG to Report Q1, 2024 Results on May 07, 2024 ElringKlinger AG announced that they will report Q1, 2024 results on May 07, 2024 Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €5.55, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Auto Components industry in the United Kingdom. Total loss to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.13 per share. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: €0.12 (vs €0.052 in 3Q 2022) Third quarter 2023 results: EPS: €0.12 (up from €0.052 in 3Q 2022). Revenue: €451.6m (down 2.7% from 3Q 2022). Net income: €7.76m (up 134% from 3Q 2022). Profit margin: 1.7% (up from 0.7% in 3Q 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Buying Opportunity • Aug 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 31%. The fair value is estimated to be €8.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.4% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 8.6% in 2 years. Earnings is forecast to grow by 503% in the next 2 years. Reported Earnings • Aug 07
Second quarter 2023 earnings released: EPS: €0.04 (vs €1.49 loss in 2Q 2022) Second quarter 2023 results: EPS: €0.04 (up from €1.49 loss in 2Q 2022). Revenue: €468.7m (up 8.9% from 2Q 2022). Net income: €2.37m (up €96.5m from 2Q 2022). Profit margin: 0.5% (up from net loss in 2Q 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. New Risk • Aug 07
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 97% Dividend yield: 2.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Duyuru • May 11
ElringKlinger AG, Annual General Meeting, May 16, 2024 ElringKlinger AG, Annual General Meeting, May 16, 2024. Reported Earnings • May 10
First quarter 2023 earnings released: EPS: €0.11 (vs €0.063 in 1Q 2022) First quarter 2023 results: EPS: €0.11 (up from €0.063 in 1Q 2022). Revenue: €487.7m (up 12% from 1Q 2022). Net income: €6.67m (up 67% from 1Q 2022). Profit margin: 1.4% (up from 0.9% in 1Q 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Buying Opportunity • May 10
Now 21% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be €12.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 29
Full year 2022 earnings released: €1.41 loss per share (vs €0.88 profit in FY 2021) Full year 2022 results: €1.41 loss per share (down from €0.88 profit in FY 2021). Revenue: €1.80b (up 11% from FY 2021). Net loss: €89.1m (down 260% from profit in FY 2021). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Buying Opportunity • Mar 28
Now 20% undervalued Over the last 90 days, the stock is up 23%. The fair value is estimated to be €10.16, 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 became loss making. Buying Opportunity • Mar 13
Now 20% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be €10.48, 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 became loss making. Buying Opportunity • Feb 06
Now 22% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be €10.38, 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 became loss making. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: €0.05 (vs €0.14 in 3Q 2021) Third quarter 2022 results: EPS: €0.05 (down from €0.14 in 3Q 2021). Revenue: €464.1m (up 16% from 3Q 2021). Net income: €3.31m (down 63% from 3Q 2021). Profit margin: 0.7% (down from 2.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 05
Second quarter 2022 earnings released: €1.49 loss per share (vs €0.13 profit in 2Q 2021) Second quarter 2022 results: €1.49 loss per share (down from €0.13 profit in 2Q 2021). Revenue: €430.6m (up 9.4% from 2Q 2021). Net loss: €94.1m (down €102.0m from profit in 2Q 2021). Over the next year, revenue is forecast to grow 8.7%, compared to a 79% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Mar 31
ElringKlinger AG, Annual General Meeting, May 16, 2022 ElringKlinger AG, Annual General Meeting, May 16, 2022. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €8.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Auto Components industry in Europe. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €12.08 per share. Buying Opportunity • Mar 01
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €11.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% per annum over the last 3 years. The company has become profitable over the last year. Buying Opportunity • Feb 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €12.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% per annum over the last 3 years. The company has become profitable over the last year. Buying Opportunity • Jan 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €12.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% per annum over the last 3 years. The company has become profitable over the last year. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 22% share price decline to €10.02, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Auto Components industry in Europe. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €11.81 per share. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 24% share price gain to €13.66, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Auto Components industry in Europe. Total returns to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €15.02 per share. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS €0.14 (vs €0.054 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €400.6m (up 5.1% from 3Q 2020). Net income: €8.96m (up 162% from 3Q 2020). Profit margin: 2.2% (up from 0.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Aug 08
Second quarter 2021 earnings released: EPS €0.13 (vs €0.56 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €393.6m (up 56% from 2Q 2020). Net income: €7.95m (up €43.4m from 2Q 2020). Profit margin: 2.0% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Reported Earnings • May 10
First quarter 2021 earnings released: EPS €0.60 (vs €0.031 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €424.1m (up 7.0% from 1Q 2020). Net income: €37.9m (up €35.9m from 1Q 2020). Profit margin: 8.9% (up from 0.5% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 02
Full year 2020 earnings released: €0.64 loss per share (vs €0.064 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: €1.48b (down 14% from FY 2019). Net loss: €40.8m (down €44.9m 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 110 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 24
New 90-day low: €12.91 The company is down 8.0% from its price of €14.00 on 25 November 2020. The British market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Auto Components industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.61 per share. Is New 90 Day High Low • Jan 21
New 90-day high: €16.32 The company is up 109% from its price of €7.79 on 23 October 2020. The British market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.03 per share. Is New 90 Day High Low • Jan 05
New 90-day high: €16.20 The company is up 108% from its price of €7.79 on 07 October 2020. The British market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.11 per share. Is New 90 Day High Low • Dec 04
New 90-day high: €14.14 The company is up 136% from its price of €5.98 on 04 September 2020. The British market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 36% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.64 per share. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS €0.054 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €381.2m (down 12% from 3Q 2019). Net income: €3.43m (down 49% from 3Q 2019). Profit margin: 0.9% (down from 1.6% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 103% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 14
Revenue misses expectations Revenue missed analyst estimates by 6.2%. Over the next year, revenue is forecast to grow 6.6%, compared to a 4.3% growth forecast for the Auto Components industry in the United Kingdom. Is New 90 Day High Low • Nov 12
New 90-day high: €10.50 The company is up 83% from its price of €5.73 on 14 August 2020. The British market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.50 per share. Is New 90 Day High Low • Oct 16
New 90-day high: €9.54 The company is up 62% from its price of €5.88 on 17 July 2020. The British market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.26 per share. Is New 90 Day High Low • Sep 25
New 90-day high: €6.34 The company is up 23% from its price of €5.14 on 26 June 2020. The British market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Auto Components industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.27 per share. 
