Duyuru • May 27
Innovatec S.p.A. has filed a Follow-on Equity Offering in the amount of €7.9968 million. Innovatec S.p.A. has filed a Follow-on Equity Offering in the amount of €7.9968 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 40,800,000
Price\Range: €0.196
Transaction Features: Rights Offering New Risk • May 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€3.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€3.7m free cash flow). Minor Risk Market cap is less than US$100m (€18.0m market cap, or US$21.2m). New Risk • May 07
New major risk - Revenue and earnings growth Earnings have declined by 58% 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 Risk Earnings have declined by 58% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€17.1m market cap, or US$20.1m). Duyuru • Apr 16
Innovatec S.p.A., Annual General Meeting, Apr 30, 2026 Innovatec S.p.A., Annual General Meeting, Apr 30, 2026, at 15:00 W. Europe Standard Time. Location: via giovanni bensi n 12 5, milano Italy New Risk • Apr 05
New major risk - Revenue and earnings growth Earnings have declined by 60% 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 Risk Earnings have declined by 60% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€18.7m market cap, or US$21.6m). New Risk • Jun 12
New major risk - Revenue and earnings growth Earnings have declined by 29% 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 Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€17.5m market cap, or US$20.0m). Reported Earnings • Apr 01
Full year 2024 earnings released Full year 2024 results: Revenue: €224.5m (down 1.6% from FY 2023). Net loss: €10.2m (down €10.2m from profit in FY 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electrical industry in Italy. Buy Or Sell Opportunity • Jan 10
Now 59% undervalued after recent price drop Over the last 90 days, the stock has fallen 62% to €0.34. The fair value is estimated to be €0.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 53% per annum over the same time period. Major Estimate Revision • Dec 13
Consensus revenue estimates fall by 19% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €288.4m to €233.6m. EPS estimate fell from €0.10 to €0.017 per share. Net income forecast to grow 332% next year vs 9.3% growth forecast for Electrical industry in Italy. Consensus price target down from €1.80 to €1.40. Share price rose 7.7% to €0.99 over the past week. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €1.02, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Electrical industry in Italy. Total loss to shareholders of 41% over the past three years. New Risk • Sep 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 Italian stocks, typically moving 7.4% 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 (2.6x net interest cover). Share price has been highly volatile over the past 3 months (7.4% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.03% net profit margin). Market cap is less than US$100m (€86.4m market cap, or US$96.0m). New Risk • Sep 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €86.8m (US$95.7m) 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: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.03% net profit margin). Market cap is less than US$100m (€86.8m market cap, or US$95.7m). New Risk • Jun 20
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 (2.6x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.03% net profit margin). 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. This is currently the only risk that has been identified for the company. Price Target Changed • Dec 22
Price target increased by 8.2% to €1.98 Up from €1.83, the current price target is an average from 2 analysts. New target price is 52% above last closing price of €1.30. Stock is down 23% over the past year. The company is forecast to post earnings per share of €0.05 for next year compared to €0.11 last year. Major Estimate Revision • Sep 28
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €288.3m to €249.7m. EPS estimate fell from €0.115 to €0.05 per share. Net income forecast to shrink 46% next year vs 3.2% decline forecast for Electrical industry in Italy. Consensus price target broadly unchanged at €1.95. Share price fell 5.0% to €1.23 over the past week. Buying Opportunity • Aug 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.3%. The fair value is estimated to be €1.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 77% over the last 3 years. Earnings per share has grown by 50%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings is also forecast to grow by 26% per annum over the same time period. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €1.08, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Electrical industry in Italy. Total returns to shareholders of 66% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.44 per share. Major Estimate Revision • Aug 06
Consensus revenue estimates decrease by 13%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from €332.1m to €288.3m. EPS estimate increased from €0.165 to €0.17 per share. Net income forecast to grow 54% next year vs 4.7% growth forecast for Electrical industry in Italy. Consensus price target down from €2.20 to €1.93. Share price fell 8.9% to €1.17 over the past week. Price Target Changed • Jun 01
Price target decreased by 12% to €2.20 Down from €2.50, the current price target is an average from 3 analysts. New target price is 69% above last closing price of €1.30. Stock is down 37% over the past year. The company is forecast to post earnings per share of €0.17 for next year compared to €0.11 last year. Price Target Changed • Mar 30
Price target decreased by 7.4% to €2.50 Down from €2.70, the current price target is an average from 3 analysts. New target price is 56% above last closing price of €1.61. Stock is down 25% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.068 last year. Buying Opportunity • Mar 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 8.4%. The fair value is estimated to be €1.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 43% in 2 years. Earnings is forecast to grow by 53% in the next 2 years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.60, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Electrical industry in Italy. Total returns to shareholders of 90% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.94 per share. Price Target Changed • Mar 14
Price target decreased by 9.5% to €2.53 Down from €2.80, the current price target is an average from 3 analysts. New target price is 74% above last closing price of €1.46. Stock is down 28% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.068 last year. Buying Opportunity • Mar 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be €1.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 49% in 2 years. Earnings is forecast to grow by 60% in the next 2 years. Price Target Changed • Mar 06
Price target decreased by 8.0% to €2.70 Down from €2.93, the current price target is an average from 3 analysts. New target price is 68% above last closing price of €1.60. Stock is up 13% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.068 last year. Buying Opportunity • Jan 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.1%. The fair value is estimated to be €2.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 71% over the last 3 years. Earnings per share has declined by 18%. Revenue is forecast to grow by 49% in 2 years. Earnings is forecast to grow by 62% in the next 2 years. Price Target Changed • Nov 30
Price target decreased to €2.80 Down from €3.10, the current price target is an average from 3 analysts. New target price is 57% above last closing price of €1.79. Stock is up 21% over the past year. The company is forecast to post earnings per share of €0.15 for next year compared to €0.068 last year. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 8 new directors. 3 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). Director Ciardo Maria Domenica is the most experienced director on the board, commencing their role in 2021. Independent Director Eugenio D’Amico was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Price Target Changed • Nov 01
Price target decreased to €2.85 Down from €3.10, the current price target is an average from 2 analysts. New target price is 67% above last closing price of €1.71. Stock is up 78% over the past year. The company is forecast to post earnings per share of €0.20 for next year compared to €0.068 last year. Reported Earnings • Oct 03
First half 2022 earnings released: EPS: €0 (vs €0.027 in 1H 2021) First half 2022 results: EPS: €0. Revenue: €164.0m (up 167% from 1H 2021). Net income: €8.46m (up 254% from 1H 2021). Profit margin: 5.2% (up from 3.9% in 1H 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Electrical industry in Italy. Buying Opportunity • Aug 08
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be €2.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last 3 years. Earnings per share has declined by 78%. For the next 3 years, revenue is forecast to grow by 25% per annum. Earnings is also forecast to grow by 42% per annum over the same time period. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 20% share price gain to €1.99, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 18x in the Electrical industry in Europe. Total returns to shareholders of 1,428% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.02 per share. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 7 new directors. 4 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). Director Ciardo Maria Domenica is the most experienced director on the board, commencing their role in 2021. Independent Director Eugenio D’Amico was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Buying Opportunity • Apr 06
Now 23% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be €2.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 28% per annum. Earnings is also forecast to grow by 41% per annum over the same time period. Reported Earnings • Apr 01
Full year 2021 earnings released Full year 2021 results: Revenue: €144.6m (up 419% from FY 2020). Net income: €6.37m (up €5.70m from FY 2020). Profit margin: 4.4% (up from 2.4% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 83%, compared to a 10% growth forecast for the industry in Italy. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 25% share price gain to €1.71, the stock trades at a trailing P/E ratio of 57.2x. Average trailing P/E is 21x in the Electrical industry in Europe. Total returns to shareholders of 1,374% over the past three years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €1.96, the stock trades at a trailing P/E ratio of 65.6x. Average trailing P/E is 22x in the Electrical industry in Europe. Total returns to shareholders of 1,554% over the past three years. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improved over the past week After last week's 19% share price gain to €2.15, the stock trades at a trailing P/E ratio of 71.8x. Average trailing P/E is 22x in the Electrical industry in Europe. Total returns to shareholders of 1,569% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 20% share price gain to €1.48, the stock trades at a trailing P/E ratio of 49.4x. Average trailing P/E is 23x in the Electrical industry in Europe. Total returns to shareholders of 1,391% over the past three years. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improved over the past week After last week's 15% share price gain to €1.03, the stock trades at a trailing P/E ratio of 34.4x. Average trailing P/E is 26x in the Electrical industry in Europe. Total returns to shareholders of 814% over the past three years. Reported Earnings • Oct 07
First half 2021 earnings released: EPS €0.027 (vs €0.003 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: €61.5m (up 409% from 1H 2020). Net income: €2.39m (up €2.11m from 1H 2020). Profit margin: 3.9% (up from 2.3% in 1H 2020). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Nov 02
New 90-day low: €0.40 The company is down 38% from its price of €0.65 on 04 August 2020. The Italian market is down 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 2.0% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: €0.48 The company is down 33% from its price of €0.71 on 17 July 2020. The Italian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 18% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: €0.58 The company is down 23% from its price of €0.75 on 24 June 2020. The Italian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 17% over the same period.