Board Change • May 21
High number of new directors Chairman of the Board Anders Davidsson was the last director to join the board, commencing their role in 2026. Ankündigung • May 10
Balco Group AB Announces CEO Changes, Effective May 7, 2026 Balco Group AB announces that the Board of Directors has decided to initiate the recruitment of a new Group CEO to lead the Group's continued improvement and development efforts. Camilla Ekdahl, who has served as Group CEO since 2022, is leaving her position, effective May 7, 2026 but will remain within the business for a short transition period to ensure an orderly handover. The recruitment process for a new Group CEO will begin immediately. During the recruitment process, the Board has appointed Johan Dyberg as Acting Group CEO, effective May 7, 2026. Johan Dyberg, who was recently elected to Balco Group's Board of Directors, has extensive experience from senior positions within industrial companies, including Electrolux and Addtech. Ankündigung • May 07
Balco Group AB (publ) Announces Executive Appointments, Effective May 5, 2026 Balco Group AB (publ) at its Annual General Meeting held on May 5, 2026, resolved to elect Anders Davidsson, Johan Dyberg and Michael Wickell as new Board members. Election of Anders Davidsson as new Chairman of the Board. Ankündigung • Mar 03
Balco Group AB Announces to Step Down of Johannes Nyberg as Board of Director Balco Group AB announced that Johannes Nyberg has informed Balco Group that he will step down from his position as a member of the Board of Directors. Johannes has served as a Board member since the company's IPO in 2017 and has, during these years, contributed valuable expertise to the company's development. He has also been a member of the Audit Committee, where he has played an important role in overseeing the company's financial reporting and internal control processes. The decision is prompted by his role as CEO of Skandrenting, combined with his other commitments, which are extensive and time-consuming. Ankündigung • Feb 09
Balco Group AB, Annual General Meeting, May 05, 2026 Balco Group AB, Annual General Meeting, May 05, 2026. Ankündigung • Feb 06
Balco Group AB to Report Fiscal Year 2026 Results on Feb 08, 2027 Balco Group AB announced that they will report fiscal year 2026 results on Feb 08, 2027 Ankündigung • Oct 28
Balco Group Announces Executive Changes Balco Group announced that Joakim Petersen-Dyggve, CEO of Riikku Rakenteet Oy, leaves his employment on 30 November. Joakim has been a member of Group Management. A successor has been recruited, but will not initially be part of the Group Management. Michael Grindborn Head of Investor Relations leaves his employment with the company in connection with the Third Quarter report. Andreas Lindberg is employed in the newly established position of Director of Business Development & Head of IT Balco Group, starts November 1, 2025. Viktor Arvidsson has been hired as the new CFO and Head of Investor Relations, starts first quarter 2026. Ankündigung • Oct 27
Balco Group AB to Report Nine Months, 2026 Results on Oct 26, 2026 Balco Group AB announced that they will report nine months, 2026 results on Oct 26, 2026 Ankündigung • Aug 26
Balco Group Announces CFO Changes Balco Group has appointed Carin Bengtsson as interim CFO, effective 8 September 2025. Carin Bengtsson brings extensive experience from CFO and management roles and most recently served as CFO of the Volito Group. The current CFO, Michael Grindborn, will reduce his operational involvement in connection with this transition but will remain with the company during a handover period to ensure continuity and a structured transition. The recruitment process for a permanent CFO is progressing according to plan. Ankündigung • Apr 09
Balco Group AB (OM:BALCO) acquired an additional 20% stake in Suomen Ohutlevyasennus Oy. Balco Group AB (OM:BALCO) acquired an additional 20% stake in Suomen Ohutlevyasennus Oy on April 8, 2025. The purchase price will be paid in cash from its own funds. Balco Group has an option to purchase the remaining 20% of the shares.
Balco Group AB (OM:BALCO) completed the acquisition of an additional 20% stake in Suomen Ohutlevyasennus Oy on April 8, 2025. Ankündigung • Dec 20
Balco Group Appoints Joakim Petersen-Dyggve Managing Director Riikku Oy As Finland has become a significant market for Balco Group through the acquisitions of Riikku Group Oy and Suomen ohutlevyasennus Oy during the year, and Riikku's products have great potential in several markets, Balco Group will strengthen the Group Management Team with Riikku's Managing Director Joakim Petersen-Dyggve from January 1, 2025. Joakim Petersen-Dyggve has extensive experience from leading positions in national and international project operations, as well as production and personnel management. Balco Group's Group Management from January 1, 2025:Camilla Ekdahl President and CEO; Michael Grindborn CFO, Head of IR, IT, M&A and Sustainability; Jesper Magnusson HR Director; Johan Fälth COO & Sales and Marketing Director Balco AB; Joakim Petersen-Dyggve Managing Director Riikku Oy. Reported Earnings • Oct 29
Third quarter 2024 earnings released: kr0.03 loss per share (vs kr0.26 profit in 3Q 2023) Third quarter 2024 results: kr0.03 loss per share (down from kr0.26 profit in 3Q 2023). Revenue: kr331.0m (up 31% from 3Q 2023). Net loss: kr700.0k (down 113% from profit in 3Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has fallen by 37% per year whereas the company’s share price has fallen by 32% per year. Ankündigung • Oct 28
Balco Group AB to Report Nine Months, 2025 Results on Oct 27, 2025 Balco Group AB announced that they will report nine months, 2025 results on Oct 27, 2025 Ankündigung • Jul 15
Balco Group AB, Annual General Meeting, May 06, 2025 Balco Group AB, Annual General Meeting, May 06, 2025. Reported Earnings • Jul 14
Second quarter 2024 earnings released: EPS: kr0.15 (vs kr0.94 in 2Q 2023) Second quarter 2024 results: EPS: kr0.15 (down from kr0.94 in 2Q 2023). Revenue: kr374.0m (up 8.0% from 2Q 2023). Net income: kr3.50m (down 83% from 2Q 2023). Profit margin: 0.9% (down from 5.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Ankündigung • Jul 13
Balco Group AB to Report First Half, 2025 Results on Jul 14, 2025 Balco Group AB announced that they will report first half, 2025 results on Jul 14, 2025 Board Change • Jun 02
Insufficient new 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. 1 highly experienced director. Independent Director Thomas Widstrand was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Ankündigung • May 15
Balco Group AB Resolves Not Pay Any Dividend Balco Group AB announced that at its AGM held on May 14, 2024, the annual general meeting resolved to not pay any dividend and that funds at the disposal of the Annual General Meeting are carried forward. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: kr0.10 (vs kr0.63 in 1Q 2023) First quarter 2024 results: EPS: kr0.10 (down from kr0.63 in 1Q 2023). Revenue: kr326.4m (flat on 1Q 2023). Net income: kr2.30m (down 83% from 1Q 2023). Profit margin: 0.7% (down from 4.2% in 1Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 17
Full year 2023 earnings released: EPS: kr2.12 (vs kr3.48 in FY 2022) Full year 2023 results: EPS: kr2.12 (down from kr3.48 in FY 2022). Revenue: kr1.21b (down 8.9% from FY 2022). Net income: kr46.5m (down 39% from FY 2022). Profit margin: 3.8% (down from 5.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Building industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Ankündigung • Apr 11
Balco Group AB (Publ) Proposes No Dividend for the Financial Year 2023 Balco Group AB (Publ) at its AGM to be held on May 14, 2024, proposed that no dividend shall be paid for the financial year 2023, and that amounts available for the Annual General Meeting be transferred to a new account. Ankündigung • Mar 07
Balco Group AB (OM:BALCO) acquired 60% stake in Suomen Ohutlevyasennus Oy. Balco Group AB (OM:BALCO) acquired 60% stake in Suomen Ohutlevyasennus Oy on March 6, 2024. Suomen ohutlevyasennus had a turnover of just over €11 million in 2023. The agreed purchase price is financed partly with own cash and partly with newly issued shares to Suomen ohutlevyasennus’ former owner. Balco Group has an option to buy the remaining 40% of the shares. Balco Group has decided on a directed new issue of a total of 383,480 shares in the company to the sellers of Suomen ohutlevyasennus Oy with payment by offsetting the reverse issued by Balco Group to the sellers. Suomen ohutlevyasennus will continue to be run by co-owners Jukka Stam and Mikko Jokinen.
Balco Group AB (OM:BALCO) completed the acquisition of 60% stake in Suomen Ohutlevyasennus Oy on March 6, 2024. Reported Earnings • Feb 07
Full year 2023 earnings released: EPS: kr2.12 (vs kr3.48 in FY 2022) Full year 2023 results: EPS: kr2.12 (down from kr3.48 in FY 2022). Revenue: kr1.21b (down 8.9% from FY 2022). Net income: kr46.5m (down 39% from FY 2022). Profit margin: 3.8% (down from 5.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 6.0% p.a. on average during the next 2 years, while revenues in the Building industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Ankündigung • Feb 07
Balco Group AB to Report Fiscal Year 2023 Results on Apr 12, 2024 Balco Group AB announced that they will report fiscal year 2023 results at 12:00 PM, Central European Standard Time on Apr 12, 2024 New Risk • Feb 07
New major risk - Revenue and earnings growth Earnings have declined by 6.0% 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 6.0% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (€90.3m market cap, or US$97.2m). Ankündigung • Feb 06
Balco Group AB to Report Fiscal Year 2024 Results on Feb 10, 2025 Balco Group AB announced that they will report fiscal year 2024 results on Feb 10, 2025 New Risk • Feb 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.3% 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: Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Ankündigung • Jan 23
Balco Group AB (OM:BALCO) acquired Riikku Group Oy for €15 million. Balco Group AB (OM:BALCO) acquired Riikku Group Oy for €15million on January 22, 2024.The agreed purchase price amounts €15 million on a cash and debt-free basis. €3 million will be paid with newly issued shares to Riikku's former owners. The remaining €12 million is financed with own cash and was paid half upon entry and half over the next four years with a quarter per year. the annual general meeting on May 9, 2023, directed new issue of a total of 0.7 million shares in the company to the sellers of Riikku Group Oy with payment by offsetting the reverse issued by Balco Group to the sellers The acquisition, which is the largest Balco Group has completed to date, will be consolidated from 1 January 2024 and is expected to contribute positively to earnings per share during the full year 2024. Riikku and its subsidiaries will continue to be run by the current management with Joakim Petersen-Dyggve as Managing Director. The Riikku Group had a turnover of approximately €40 million in 2023. Jan Johanson from Krogerus Attorneys Ltd. act as legal advisor for Balco Group AB.
Balco Group AB (OM:BALCO) completed the acquisition of Riikku Group Oy on January 22, 2024. Ankündigung • Dec 01
Balco Group AB Announces Nomination Committee for the 2024 Annual General Meeting Balco Group AB announced that the Nomination Committee has now been appointed and comprises the following members: Carl-Mikael Lindholm, appointed by Family Hamrin (Chairman of the Nomination Committee), Lennart Francke, appointed by Swedbank Robur Fonder, Lennart Björkman, appointed by Skandrenting AB, Claes Murander, appointed by Lannebo Fonder, Ingalill Berglund, Balco's Chairman of the Board. The Nomination Committee shall prepare proposals for the 2024 Annual General Meeting regarding the Chairman of the Meeting, number of Board members, fees to be paid to the Chairman of the Board and Board members, election of Board members and Board Chairman, remuneration to the auditor and election of auditor and, if necessary, proposal for changes in the instruction to the Nomination Committee. Upcoming Dividend • Nov 01
Upcoming dividend of kr0.75 per share at 4.1% yield Eligible shareholders must have bought the stock before 08 November 2023. Payment date: 14 November 2023. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (4.8%). Reported Earnings • Oct 31
Third quarter 2023 earnings released: EPS: kr0.26 (vs kr0.49 in 3Q 2022) Third quarter 2023 results: EPS: kr0.26 (down from kr0.49 in 3Q 2022). Revenue: kr253.3m (down 19% from 3Q 2022). Net income: kr5.60m (down 48% from 3Q 2022). Profit margin: 2.2% (down from 3.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. New Risk • Jul 16
New major risk - Revenue and earnings growth Earnings have declined by 1.9% 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 1.9% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€83.8m market cap, or US$94.0m). Reported Earnings • Jul 14
Second quarter 2023 earnings released: EPS: kr0.94 (vs kr0.93 in 2Q 2022) Second quarter 2023 results: EPS: kr0.94 (up from kr0.93 in 2Q 2022). Revenue: kr346.4m (down 1.4% from 2Q 2022). Net income: kr20.6m (up 1.5% from 2Q 2022). Profit margin: 5.9% (in line with 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Ankündigung • May 10
Balco Group AB Approves Dividend into Two Payments, in May 2023 and November 2023 Balco Group AB approved dividend of SEK 1.50 per share, corresponding to a total of SEK 32,864,022, dividend into two payments, SEK 0.75 per share in May 2023 and SEK 0.75 per share in November 2023 at its annual general meeting held on May 9, 2023. Upcoming Dividend • May 03
Upcoming dividend of kr0.75 per share at 3.3% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.1%). Reported Earnings • Apr 25
First quarter 2023 earnings released: EPS: kr0.63 (vs kr0.88 in 1Q 2022) First quarter 2023 results: EPS: kr0.63 (down from kr0.88 in 1Q 2022). Revenue: kr325.7m (up 13% from 1Q 2022). Net income: kr13.7m (down 29% from 1Q 2022). Profit margin: 4.2% (down from 6.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: kr3.48 (vs kr4.12 in FY 2021) Full year 2022 results: EPS: kr3.48 (down from kr4.12 in FY 2021). Revenue: kr1.33b (up 19% from FY 2021). Net income: kr76.2m (down 16% from FY 2021). Profit margin: 5.7% (down from 8.1% in FY 2021). 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 but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Ankündigung • Feb 07
Balco Group AB Proposes Dividend in Two Payments in May 2023 and November 2023 The Board of Directors of Balco Group AB proposed a dividend of 1.50 SEK per share (2.00) divided into two payments, 0.75 SEK per share in May 2023 and 0.75 SEK per share in November 2023. Buying Opportunity • Jan 26
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €4.99, 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. Earnings per share has declined by 12%. Revenue is forecast to grow by 2.4% in a year. Earnings is forecast to decline by 4.0% in the next year. Buying Opportunity • Jan 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €4.94, 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. Earnings per share has declined by 12%. Revenue is forecast to grow by 2.4% in a year. Earnings is forecast to decline by 4.0% in the next year. Ankündigung • Dec 09
Balco Group AB Appoints Camilla Ekdahl as CEO Balco Group AB announced that the board has appointed Camilla Ekdahl as CEO of Balco Group AB. For just over three years, Camilla has been COO in the group and Managing Director of the largest company within the group, Balco AB. Since September 1, 2022, she has been acting CEO. Upcoming Dividend • Nov 16
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 23 November 2022. Payment date: 29 November 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.2%). Reported Earnings • Nov 01
Third quarter 2022 earnings released: EPS: kr0.49 (vs kr0.83 in 3Q 2021) Third quarter 2022 results: EPS: kr0.49 (down from kr0.83 in 3Q 2021). Revenue: kr310.8m (up 28% from 3Q 2021). Net income: kr10.7m (down 42% from 3Q 2021). Profit margin: 3.4% (down from 7.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 2.6% p.a. on average during the next 2 years, while revenues in the Building industry in Europe are expected to grow by 5.8%. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Ankündigung • Jul 15
Balco Group AB to Report Q1, 2023 Results on Apr 24, 2023 Balco Group AB announced that they will report Q1, 2023 results on Apr 24, 2023 Reported Earnings • Jul 15
Second quarter 2022 earnings released: EPS: kr0.93 (vs kr1.18 in 2Q 2021) Second quarter 2022 results: EPS: kr0.93 (down from kr1.18 in 2Q 2021). Revenue: kr351.2m (up 16% from 2Q 2021). Net income: kr20.3m (down 22% from 2Q 2021). Profit margin: 5.8% (down from 8.5% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 20%, compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €6.55, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Building industry in Europe. Total returns to shareholders of 8.2% over the past three years. Ankündigung • May 26
Balco Group AB Approves Dividend, Payable on May 2022 and November 2022 Balco Group AB announced that at its AGM held on May 24, 2022, the annual general meeting resolved on a dividend of SEK 2.00 per share, corresponding to a total of SEK 43,818,696, divided into two payments, SEK 1.00 per share in May 2022 and SEK 1.00 per share in November 2022. Upcoming Dividend • May 18
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 25 May 2022. Payment date: 01 June 2022. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (3.0%). Reported Earnings • May 08
First quarter 2022 earnings released: EPS: kr0.88 (vs kr0.74 in 1Q 2021) First quarter 2022 results: EPS: kr0.88 (up from kr0.74 in 1Q 2021). Revenue: kr288.4m (up 15% from 1Q 2021). Net income: kr19.2m (up 18% from 1Q 2021). Profit margin: 6.7% (up from 6.5% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 22%, compared to a 13% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Apr 12
Full year 2021 earnings released: EPS: kr4.12 (vs kr3.58 in FY 2020) Full year 2021 results: EPS: kr4.12 (up from kr3.58 in FY 2020). Revenue: kr1.12b (down 6.6% from FY 2020). Net income: kr90.2m (up 16% from FY 2020). Profit margin: 8.1% (up from 6.5% in FY 2020). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 36%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 01
President & CEO recently sold €309k worth of stock On the 24th of February, Kenneth Lundahl sold around 28k shares on-market at roughly €11.08 per share. This was the largest sale by an insider in the last 3 months. This was Kenneth's only on-market trade for the last 12 months. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr4.12 (up from kr3.58 in FY 2020). Revenue: kr1.12b (down 6.6% from FY 2020). Net income: kr90.2m (up 16% from FY 2020). Profit margin: 8.0% (up from 6.5% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 35%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Ankündigung • Feb 09
Balco Group AB Solves Overcrowding with Groundbreaking Product Balco Group has developed a new product that solves overcrowding in apartment buildings. The product goes by the name Balco® Living and is primarily developed for the renovation segment - a market where Balco sees great potential. Balco Living means that an insulated and openable glazing system is added to the outside of the property together with concrete slabs from Balco. After completion of construction, each apartment in the property has been given a heated, integrated new living space of approximately 20 square meters. An extra room is created, with the goal that the total energy consumption can be kept unchanged at up to 20% increase in living space. The solution, which is both cost-effective and aesthetically pleasing, is primarily aimed at tenant-owner associations, publicly owned companies, private landlords and contractors who convert office properties into homes. The low price per square meter of SEK 25,000 in combination with Balco's advantageous financing solution makes Balco Living a very interesting alternative to a conventional extension. The product is not only a response to overcrowding but also generates an increase in the value of the property /home and gives vulnerable residential areas an opportunity for upgrading and status increase. Ankündigung • Jan 12
Balco Group AB Provides Financial Target Balco Group AB provided financial target. The company announces its financial target for operating margin (EBIT) is replaced by earnings per share growing by 20% per year. Recent Insider Transactions • Dec 03
Independent Director recently bought €2.4m worth of stock On the 30th of November, Carl-Mikael Lindholm bought around 200k shares on-market at roughly €12.22 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €2.6m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 20
Third quarter 2021 earnings released: EPS kr0.83 (vs kr0.95 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr242.9m (down 6.0% from 3Q 2020). Net income: kr18.3m (down 11% from 3Q 2020). Profit margin: 7.5% (down from 7.9% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 15% share price gain to €12.88, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Building industry in Europe. Total returns to shareholders of 118% over the past three years. Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS kr1.18 (vs kr1.71 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr303.5m (down 14% from 2Q 2020). Net income: kr25.9m (down 30% from 2Q 2020). Profit margin: 8.5% (down from 11% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • May 27
Independent Chairman Tomas Johansson has left the company On the 25th of May, Tomas Johansson's tenure in the role of Independent Chairman ended. We don't have any record of a personal shareholding under Tomas' name. A total of 2 executives have left over the last 12 months. Ankündigung • May 26
Balco Group AB Approves to Omit Dividend Balco Group AB at its AGM held on May 25, 2021 resolved, in accordance with the proposal made by the Board of Directors, to not pay any dividends and noted the Board of Directors' ambition to, when the consequences of the Covid-19 pandemic becomes more clear and the market conditions are more stable, convene an Extraordinary General Meeting during the fall 2021 at which the shareholders will be able to decide on dividend. Reported Earnings • May 23
First quarter 2021 earnings released: EPS kr0.74 (vs kr1.17 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr250.4m (down 22% from 1Q 2020). Net income: kr16.3m (down 35% from 1Q 2020). Profit margin: 6.5% (down from 7.8% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • Apr 18
Full year 2020 earnings released: EPS kr3.58 (vs kr4.79 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr1.20b (down 1.7% from FY 2019). Net income: kr77.6m (down 25% from FY 2019). Profit margin: 6.5% (down from 8.4% in FY 2019). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 19% per year. Recent Insider Transactions • Apr 11
Independent Director recently bought €88k worth of stock On the 8th of April, Carl-Mikael Lindholm bought around 10k shares on-market at roughly €8.81 per share. In the last 3 months, there was an even bigger purchase from another insider worth €450k. Insiders have collectively bought €155k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Feb 23
Head of Business Development recently sold €150k worth of stock On the 18th of February, Fredrik Hall sold around 18k shares on-market at roughly €8.17 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €38k more than they sold in the last 12 months. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS kr3.58 (vs kr4.79 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr1.20b (down 1.7% from FY 2019). Net income: kr77.6m (down 25% from FY 2019). Profit margin: 6.5% (down from 8.4% in FY 2019). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue beats expectations Revenue exceeded analyst estimates by 2.1%. Over the next year, revenue is expected to shrink by 4.1% compared to a 3.7% growth forecast for the Building industry in Germany. Is New 90 Day High Low • Feb 11
New 90-day low: €8.43 The company is down 1.0% from its price of €8.49 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 14% over the same period. Ankündigung • Feb 04
Balco Group AB Announces Executive Changes The Nomination Committee of Balco Group AB proposed to the Annual General Meeting the election of Ingalill Berglund as Chairman of the Board after Tomas Johansson who has declined re-election and election of Thomas Widstrand as a new member of Balco's Board of Directors. The Nomination Committee of Balco Group AB hereby announces that they propose to the Annual General Meeting 2021 election of Ingalill Berglund as Chairman of the Board after Tomas Johansson, as previously communicated, has declined re-election and that Thomas Widstrand is elected as a new Board member. Analyst Estimate Surprise Post Earnings • Nov 13
Revenue misses expectations Revenue missed analyst estimates by 22%. Over the next year, revenue is expected to shrink by 7.8% compared to a 2.6% growth forecast for the Building industry in Germany. Reported Earnings • Nov 13
Third quarter 2020 earnings released: EPS kr0.95 The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: kr258.5m (down 12% from 3Q 2019). Net income: kr20.5m (down 12% from 3Q 2019). Profit margin: 7.9% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 12
New 90-day low: €8.86 The company is down 3.0% from its price of €9.16 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Building industry, which is up 9.0% over the same period. Ankündigung • Nov 12
Balco Group AB to Report Q3, 2021 Results on Nov 18, 2021 Balco Group AB announced that they will report Q3, 2021 results on Nov 18, 2021