New Risk • May 15
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 Norwegian stocks, typically moving 17% 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 (17% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (kr135.0m market cap, or US$14.5m). Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr2.06, the stock trades at a trailing P/E ratio of 23.4x. Average trailing P/E is 16x in the Electric Utilities industry in Europe. Total returns to shareholders of 434% over the past three years. Reported Earnings • May 11
First quarter 2026 earnings released First quarter 2026 results: EPS: kr0.027. Revenue: kr350.6m (up 79% from 1Q 2025). Net income: kr3.28m (up 12% from 1Q 2025). Profit margin: 0.9% (down from 1.5% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr1.91, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 16x in the Electric Utilities industry in Europe. Total returns to shareholders of 368% over the past three years. New Risk • Apr 12
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 135% Dividend yield: 11% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings 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. However, this risk is mitigated by the fact the dividend is covered by cash flows. 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: Minor Risks Dividend is not well covered by earnings (135% payout ratio). Share price has been volatile over the past 3 months (8.1% average weekly change). Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (kr213.2m market cap, or US$22.4m). Reported Earnings • Mar 27
Full year 2025 earnings released Full year 2025 results: Revenue: kr538.8m (up 76% from FY 2024). Net income: kr10.2m (down 25% from FY 2024). Profit margin: 1.9% (down from 4.4% in FY 2024). The decrease in margin was driven by higher expenses. Announcement • Feb 27
Skandia GreenPower AS announces Annual dividend, payable on March 09, 2026 Skandia GreenPower AS announced Annual dividend of NOK 0.0450 per share payable on March 09, 2026, ex-date on February 27, 2026 and record date on March 02, 2026. Announcement • Nov 24
Skandia GreenPower AS, Annual General Meeting, Apr 15, 2026 Skandia GreenPower AS, Annual General Meeting, Apr 15, 2026. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr1.73, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 14x in the Electric Utilities industry in Europe. Total loss to shareholders of 13% over the past three years. Reported Earnings • Nov 02
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: kr71.5m (up 162% from 3Q 2024). Net income: kr299.0k (down 46% from 3Q 2024). Profit margin: 0.4% (down from 2.0% in 3Q 2024). Announcement • Oct 23
Skandia GreenPower AS announces Annual dividend, payable on November 03, 2025 Skandia GreenPower AS announced Annual dividend of NOK 0.0200 per share payable on November 03, 2025, ex-date on October 24, 2025 and record date on October 27, 2025. New Risk • Oct 16
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 Norwegian stocks, typically moving 10% 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 (10% average weekly change). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (kr222.5m market cap, or US$22.1m). Reported Earnings • Aug 31
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: kr90.1m (up 33% from 2Q 2024). Net income: kr1.28m (down 45% from 2Q 2024). Profit margin: 1.4% (down from 3.4% in 2Q 2024). Reported Earnings • May 09
First quarter 2025 earnings released First quarter 2025 results: Revenue: kr196.1m (up 177% from 1Q 2024). Net income: kr2.92m (up 149% from 1Q 2024). Profit margin: 1.5% (down from 1.7% in 1Q 2024). Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr1.58, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr1.27, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 11x in the Electric Utilities industry in Europe. Total loss to shareholders of 78% over the past three years. Reported Earnings • Mar 26
Full year 2024 earnings released Full year 2024 results: Revenue: kr305.9m (up 25% from FY 2023). Net income: kr13.6m (up kr27.4m from FY 2023). Profit margin: 4.4% (up from net loss in FY 2023). 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 kr1.09, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to kr1.05, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 11x in the Electric Utilities industry in Europe. Total loss to shareholders of 84% over the past three years. New Risk • Jan 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr112.6m (US$9.97m) This is considered a major 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 Risks Shareholders have been substantially diluted in the past year (112% increase in shares outstanding). Market cap is less than US$10m (kr112.6m market cap, or US$9.97m). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Reported Earnings • Nov 04
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr27.3m (up 61% from 3Q 2023). Net income: kr553.0k (up kr1.78m from 3Q 2023). Profit margin: 2.0% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to kr1.43, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 83% over the past three years. Announcement • Sep 27
Skandia GreenPower AS, Annual General Meeting, Apr 11, 2025 Skandia GreenPower AS, Annual General Meeting, Apr 11, 2025. Announcement • Sep 26
Skandia GreenPower AS (OB:SKAND) completed the acquisition of Motkraft Gruppen As. Skandia GreenPower AS (OB:SKAND) entered into an agreement to acquire Motkraft Gruppen As for NOK 36.5 million on July 1, 2024. Motkraft Gruppen AS, including the electricity company Motkraft AS, for NOK 36.5 million, including up to NOK 2 million in net debt. Skandia Greenpower has received acceptance from shareholders who together own 59 % of the company, which triggers a co-sale obligation for other shareholders according to shareholders' agreement. Motkraft has 28,500 subscribers and sold electricity in the Norwegian market for approx. NOK 375 million in 2023. The company's operating profit in the same year was NOK -15.6 million. Takeover is planned for 1 September, and the settlement will be in the form of cash.
Skandia GreenPower AS (OB:SKAND) completed the acquisition of Motkraft Gruppen As for on September 24, 2024. Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr1.26, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 13x in the Electric Utilities industry in Europe. Total loss to shareholders of 88% over the past three years. Recent Insider Transactions • Sep 04
Chief Financial Officer recently bought kr439k worth of stock On the 30th of August, Lars Abusdal bought around 340k shares on-market at roughly kr1.29 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Lars has been a buyer over the last 12 months, purchasing a net total of kr1.0m worth in shares. New Risk • Aug 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 112% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr92m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (112% increase in shares outstanding). Minor Risks Significant insider selling over the past 3 months (kr2.6m sold). Market cap is less than US$100m (kr126.9m market cap, or US$11.6m). New Risk • Jul 20
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: kr2.6m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr92m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 54% per year over the past 5 years. Market cap is less than US$10m (kr67.0m market cap, or US$6.14m). Minor Risks Shareholders have been diluted in the past year (39% increase in shares outstanding). Significant insider selling over the past 3 months (kr2.6m sold). Recent Insider Transactions • Jul 15
CEO & Director recently sold kr407k worth of stock On the 11th of July, Tommie Rudi sold around 327k shares on-market at roughly kr1.24 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Tommie's only on-market trade for the last 12 months. Recent Insider Transactions • May 31
Chief Financial Officer recently bought kr166k worth of stock On the 22nd of May, Lars Abusdal bought around 233k shares on-market at roughly kr0.71 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Lars has been a buyer over the last 12 months, purchasing a net total of kr590k worth in shares. New Risk • May 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 39% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr92m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 54% per year over the past 5 years. Market cap is less than US$10m (kr66.1m market cap, or US$6.29m). Minor Risk Shareholders have been diluted in the past year (39% increase in shares outstanding). Recent Insider Transactions • Mar 17
Director recently bought kr143k worth of stock On the 14th of March, Lars Dypvik bought around 220k shares on-market at roughly kr0.65 per share. This transaction amounted to 56% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr151k. Insiders have collectively bought kr710k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 15
Full year 2023 earnings released Full year 2023 results: Revenue: kr245.5m (down 56% from FY 2022). Net loss: kr13.8m (loss narrowed 89% from FY 2022). Recent Insider Transactions • Jan 12
Chief Financial Officer recently bought kr148k worth of stock On the 10th of January, Lars Abusdal bought around 254k shares on-market at roughly kr0.58 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr151k. Lars has been a buyer over the last 12 months, purchasing a net total of kr425k worth in shares. Recent Insider Transactions • Dec 26
Chief Financial Officer recently bought kr151k worth of stock On the 22nd of December, Lars Abusdal bought around 247k shares on-market at roughly kr0.61 per share. This transaction amounted to 62% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Lars has been a buyer over the last 12 months, purchasing a net total of kr277k worth in shares. Recent Insider Transactions • Sep 16
Director recently bought kr56k worth of stock On the 14th of September, Lars Dypvik bought around 111k shares on-market at roughly kr0.50 per share. This transaction amounted to 51% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr105k more in shares than they have sold in the last 12 months. Reported Earnings • Sep 01
First half 2023 earnings released First half 2023 results: Revenue: kr167.6m (down 38% from 1H 2022). Net loss: kr19.4m (loss widened 28% from 1H 2022). Reported Earnings • May 02
Full year 2022 earnings released Full year 2022 results: Revenue: kr551.5m (up 64% from FY 2021). Net loss: kr127.7m (loss widened kr109.6m from FY 2021). Announcement • Feb 17
Skandia GreenPower AS announced that it expects to receive NOK 12.457586 million in funding from Evendo Invest As Skandia GreenPower AS announced a subscription agreement of 40,185,760 shares at a price of NOK 0.31 per share for a gross proceeds of NOK 12.457586 million on February 15, 2023. The transaction will include participation from Evendo Invest As. The transaction is subjected to the approval the company's board of directors having called for an extraordinary general meeting. Announcement • Jan 31
Skandia GreenPower AS to Report Fiscal Year 2023 Final Results on Mar 14, 2024 Skandia GreenPower AS announced that they will report fiscal year 2023 final results on Mar 14, 2024 Announcement • Jan 28
Skandia GreenPower AS to Report First Half, 2023 Results on Aug 30, 2023 Skandia GreenPower AS announced that they will report first half, 2023 results on Aug 30, 2023 Announcement • Jan 20
Skandia Greenpower AS Announces CEO Changes Skandia Greenpower AS announced that the Company's CEO, Lene Johansen, has resigned her position effective immediately. The Board of Directors has appointed Kristine Ribe-Christensen, Skandia Greenpower's current COO, as interim CEO and will initiate a process to identify the Company's next permanent CEO. Ms. Johansen will dedicate her time in a strategic role for the Company for the next months and will also ensure a sound transition to Mrs. Ribe-Christensen. 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). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Oct 26
Third quarter 2022 earnings released: kr0.57 loss per share (vs kr0.40 loss in 3Q 2021) Third quarter 2022 results: kr0.57 loss per share (further deteriorated from kr0.40 loss in 3Q 2021). Revenue: kr124.3m (up 120% from 3Q 2021). Net loss: kr9.42m (loss widened 43% from 3Q 2021). Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Board Member Lene Johansen was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Executive Departure • Jul 01
Chief Financial Officer Anne Gunn Olsen has left the company On the 30th of June, Anne Gunn Olsen's tenure as Chief Financial Officer ended. We don't have any record of a personal shareholding under Anne Gunn's name. Anne Gunn is the only executive to leave the company over the last 12 months. Reported Earnings • May 02
Full year 2020 earnings released The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: kr98.5m (down 58% from FY 2019). Net loss: kr3.35m (loss widened 12% from FY 2019).