Reported Earnings • Apr 30
Full year 2025 earnings released: EPS: €0.43 (vs €0.29 in FY 2024) Full year 2025 results: EPS: €0.43 (up from €0.29 in FY 2024). Revenue: €152.9m (down 1.5% from FY 2024). Net income: €2.77m (up 50% from FY 2024). Profit margin: 1.8% (up from 1.2% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Significant insider selling over the past 3 months (€43k sold). Market cap is less than US$100m (€44.6m market cap, or US$52.4m). Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €7.66, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 24x in the IT industry in Greece. Total loss to shareholders of 5.7% over the past three years. Upcoming Dividend • Jul 14
Upcoming dividend of €0.15 per share Eligible shareholders must have bought the stock before 21 July 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 2.5%. Lower than top quartile of Greek dividend payers (5.7%). In line with average of industry peers (2.4%). New Risk • May 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (€40.7m market cap, or US$45.4m). New Risk • May 11
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 Greek stocks, typically moving 7.1% 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 Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (7.1% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (€38.5m market cap, or US$43.3m). Declared Dividend • May 07
Dividend reduced to €0.15 Dividend of €0.15 is 6.3% lower than last year. Ex-date: 21st July 2025 Payment date: 25th July 2025 Dividend yield will be 2.7%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 23% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 4.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Duyuru • May 06
Space Hellas S.A. announces Annual dividend, payable on July 25, 2025 Space Hellas S.A. announced Annual dividend of EUR 0.1500 per share payable on July 25, 2025, ex-date on July 21, 2025 and record date on July 22, 2025. Reported Earnings • May 02
Full year 2024 earnings released: EPS: €0.29 (vs €0.76 in FY 2023) Full year 2024 results: EPS: €0.29 (down from €0.76 in FY 2023). Revenue: €155.2m (up 4.8% from FY 2023). Net income: €1.85m (down 62% from FY 2023). Profit margin: 1.2% (down from 3.3% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 16% per year. New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (€37.1m market cap, or US$42.2m). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €5.34, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 17x in the IT industry in Europe. Total loss to shareholders of 39% over the past three years. New Risk • Mar 18
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 Greek stocks, typically moving 2.8% 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: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (2.8% average weekly change). Market cap is less than US$100m (€38.5m market cap, or US$42.0m). Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €6.70, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 18x in the IT industry in Europe. Total loss to shareholders of 18% over the past three years. Reported Earnings • Oct 04
First half 2024 earnings released: EPS: €0.22 (vs €0.28 in 1H 2023) First half 2024 results: EPS: €0.22 (down from €0.28 in 1H 2023). Revenue: €78.9m (up 27% from 1H 2023). Net income: €1.43m (down 20% from 1H 2023). Profit margin: 1.8% (down from 2.9% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. New Risk • Sep 26
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.1% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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 Paying a dividend despite having no free cash flows. Market cap is less than US$100m (€40.7m market cap, or US$45.3m). Duyuru • Jun 26
Space Hellas S.A.(ATSE:SPACE) dropped from ATHEX Composite Index Space Hellas S.A. has been dropped from ATHEX Composite Index . Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: €0.74 (vs €0.73 in FY 2022) Full year 2023 results: EPS: €0.74 (up from €0.73 in FY 2022). Revenue: €148.1m (up 15% from FY 2022). Net income: €4.88m (up 4.1% from FY 2022). Profit margin: 3.3% (down from 3.6% 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 28% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. New Risk • Apr 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). High level of non-cash earnings (26% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (€47.0m market cap, or US$50.0m). New Risk • Oct 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (26% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (€42.0m market cap, or US$44.4m). Duyuru • Sep 24
Space Hellas S.A. (ATSE:SPACE) acquired additional 39.933% stake in SingularLogic S.A. from Epsilon Net S.A. (ATSE:EPSIL) for €6.3 million. Space Hellas S.A. (ATSE:SPACE) acquired additional 39.933% stake in SingularLogic S.A. from Epsilon Net S.A. (ATSE:EPSIL) for €6.3 million on September 22, 2023. In a related transaction, Epsilon Net S.A. acquired additional 39.973% stake in Epsilon SingularLogic S.A. from Space Hellas S.A. for €11.8 million. Following this transaction, Space Hellas’s ownership has increased to 99.933% in SingularLogic.Space Hellas S.A. (ATSE:SPACE) completed the acquisition of additional 39.933% stake in SingularLogic S.A. from Epsilon Net S.A. (ATSE:EPSIL) on September 22, 2023. Duyuru • Sep 23
Epsilon Net S.A. (ATSE:EPSIL) acquired 33.973% stake in Epsilon SingularLogic S.A. from Space Hellas S.A. (ATSE:SPACE) for €11.8 million. Epsilon Net S.A. (ATSE:EPSIL) acquired 33.973% stake in Epsilon SingularLogic S.A. from Space Hellas S.A. (ATSE:SPACE) for €11.8 million on September 22, 2023.Epsilon Net S.A. (ATSE:EPSIL) completed the acquisition of 33.973% stake in Epsilon SingularLogic S.A. from Space Hellas S.A. (ATSE:SPACE) on September 22, 2023. New Risk • Jul 13
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 Greek stocks, typically moving 5.4% 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 Debt is not well covered by operating cash flow (1.0% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (€59.0m market cap, or US$65.9m). Upcoming Dividend • Jul 10
Upcoming dividend of €0.13 per share at 1.7% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 21 July 2023. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Greek dividend payers (4.7%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €8.00, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 20x in the IT industry in Europe. Total returns to shareholders of 82% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €5.24, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 20x in the IT industry in Europe. Total returns to shareholders of 19% over the past three years. Duyuru • Dec 01
Space Hellas S.A., Annual General Meeting, Dec 20, 2022 Space Hellas S.A., Annual General Meeting, Dec 20, 2022, at 11:00 E. Europe Standard Time. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Member of Board Eirinaios Theodorou was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 03
First half 2022 earnings released: EPS: €0.35 (vs €0.17 in 1H 2021) First half 2022 results: EPS: €0.35 (up from €0.17 in 1H 2021). Revenue: €53.0m (up 46% from 1H 2021). Net income: €2.16m (up 103% from 1H 2021). Profit margin: 4.1% (up from 2.9% in 1H 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Duyuru • Sep 01
Space Hellas S.A. to Report First Half, 2022 Results on Sep 30, 2022 Space Hellas S.A. announced that they will report first half, 2022 results on Sep 30, 2022 Upcoming Dividend • Jul 07
Upcoming dividend of €0.12 per share Eligible shareholders must have bought the stock before 14 July 2022. Payment date: 21 July 2022. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Greek dividend payers (5.6%). Lower than average of industry peers (2.1%). Duyuru • Jun 01
Space Hellas S.A., Annual General Meeting, Jun 22, 2022 Space Hellas S.A., Annual General Meeting, Jun 22, 2022, at 15:00 E. Europe Standard Time. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 9 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Non-Executive Director Gakis Theodoros was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 22
Full year 2021 earnings released: EPS: €0.60 (vs €0.27 in FY 2020) Full year 2021 results: EPS: €0.60 (up from €0.27 in FY 2020). Revenue: €103.3m (up 28% from FY 2020). Net income: €3.85m (up 119% from FY 2020). Profit margin: 3.7% (up from 2.2% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 12
Space Hellas S.A. to Report Q4, 2021 Results on Apr 20, 2022 Space Hellas S.A. announced that they will report Q4, 2021 results on Apr 20, 2022 Duyuru • Dec 03
Space Hellas S.A. (ATSE:SPACE) acquired SenseOne Technologies SA from SingularLogic S.A., G. Theodoropoulos and P. Tzortzakis for €1 million. Space Hellas S.A. (ATSE:SPACE) acquired SenseOne Technologies SA from SingularLogic S.A., G. Theodoropoulos and P. Tzortzakis for €1 million on December 1, 2021. Space Hellas acquired 49% stake from G. Theodoropoulos and P. Tzortzakis and 52% stake from SingularLogic.
Space Hellas S.A. (ATSE:SPACE) completed the acquisition of SenseOne Technologies SA from SingularLogic S.A., G. Theodoropoulos and P. Tzortzakis on December 1, 2021. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 19% share price gain to €9.10, the stock trades at a trailing P/E ratio of 33.4x. Average trailing P/E is 26x in the IT industry in Europe. Total returns to shareholders of 73% over the past three years. Upcoming Dividend • Jul 01
Upcoming dividend of €0.08 per share Eligible shareholders must have bought the stock before 08 July 2021. Payment date: 15 July 2021. Trailing yield: 1.0%. Lower than top quartile of Greek dividend payers (3.9%). Lower than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • May 06
Investor sentiment improved over the past week After last week's 18% share price gain to €6.78, the stock trades at a trailing P/E ratio of 24.9x. Average trailing P/E is 25x in the IT industry in Europe. Total returns to shareholders of 44% over the past three years. Reported Earnings • May 02
Full year 2020 earnings released: EPS €0.27 (vs €0.23 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: €80.7m (up 12% from FY 2019). Net income: €1.76m (up 16% from FY 2019). Profit margin: 2.2% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 08
New 90-day high: €5.96 The company is up 47% from its price of €4.05 on 09 October 2020. The Greek market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 4.0% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: €4.75 The company is up 5.0% from its price of €4.54 on 18 September 2020. The Greek market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 7.0% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: €4.70 The company is up 5.0% from its price of €4.48 on 01 September 2020. The Greek market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 21
New 90-day low: €3.73 The company is down 14% from its price of €4.34 on 22 July 2020. The Greek market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 4.0% over the same period. Duyuru • Oct 05
Space Hellas S.A. to Report First Half, 2020 Results on Sep 29, 2020 Space Hellas S.A. announced that they will report first half, 2020 results on Sep 29, 2020 Is New 90 Day High Low • Oct 02
New 90-day low: €4.11 The company is down 13% from its price of €4.70 on 03 July 2020. The Greek market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 6.0% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total profits of €1.37m, largely unchanged from the prior year. Total revenue was €75.6m over the last 12 months, up 11% from the prior year.