New Risk • Jul 14
New major risk - Revenue and earnings growth Earnings have declined by 23% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings have declined by 23% per year over the past 5 years. New Risk • Jul 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Board Change • Jun 21
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Jonas Halvord was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr944.5m (US$99.2m) 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: Minor Risks Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (kr944.5m market cap, or US$99.2m). New Risk • Feb 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr902.5m (US$99.7m) 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 Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings have declined by 1.3% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (kr902.5m market cap, or US$99.7m). New Risk • Dec 07
New major risk - Revenue and earnings growth Earnings have declined by 1.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings have declined by 1.3% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Paying a dividend despite being loss-making. Ankündigung • Oct 21
Bulten AB (publ), Annual General Meeting, Apr 23, 2026 Bulten AB (publ), Annual General Meeting, Apr 23, 2026. New Risk • Jul 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.0% Last year net profit margin: 1.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 105% Cash payout ratio: 105% Minor Risk Profit margins are more than 30% lower than last year (1.0% net profit margin). New Risk • Apr 29
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risk Dividend is not well covered by cash flows (148% cash payout ratio). Upcoming Dividend • Apr 22
Upcoming dividend of kr2.75 per share Eligible shareholders must have bought the stock before 29 April 2025. Payment date: 06 May 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of British dividend payers (6.2%). Higher than average of industry peers (4.1%). Reported Earnings • Apr 07
Full year 2024 earnings released: EPS: kr6.43 (vs kr4.91 in FY 2023) Full year 2024 results: EPS: kr6.43 (up from kr4.91 in FY 2023). Revenue: kr5.81b (flat on FY 2023). Net income: kr135.0m (up 31% from FY 2023). Profit margin: 2.3% (up from 1.8% in FY 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 09
Dividend increased to kr2.75 Dividend of kr2.75 is 10% higher than last year. Ex-date: 30th April 2025 Payment date: 7th May 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (43% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 06
Full year 2024 earnings released: EPS: kr6.43 (vs kr4.91 in FY 2023) Full year 2024 results: EPS: kr6.43 (up from kr4.91 in FY 2023). Revenue: kr5.81b (flat on FY 2023). Net income: kr135.0m (up 31% from FY 2023). Profit margin: 2.3% (up from 1.8% in FY 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Ankündigung • Jan 30
Bulten AB (publ) to Report Q1, 2025 Results on Apr 28, 2025 Bulten AB (publ) announced that they will report Q1, 2025 results at 1:30 PM, Central European Standard Time on Apr 28, 2025 Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: kr1.57 (vs kr1.48 loss in 3Q 2023) Third quarter 2024 results: EPS: kr1.57 (up from kr1.48 loss in 3Q 2023). Revenue: kr1.38b (flat on 3Q 2023). Net income: kr33.0m (up kr64.0m from 3Q 2023). Profit margin: 2.4% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Ankündigung • Oct 18
Bulten AB (publ), Annual General Meeting, Apr 28, 2025 Bulten AB (publ), Annual General Meeting, Apr 28, 2025. New Risk • Jul 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks 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 (6.9% average weekly change). Profit margins are more than 30% lower than last year (1.5% net profit margin). Reported Earnings • Jul 11
Second quarter 2024 earnings released: EPS: kr1.62 (vs kr1.81 in 2Q 2023) Second quarter 2024 results: EPS: kr1.62 (down from kr1.81 in 2Q 2023). Revenue: kr1.47b (up 3.5% from 2Q 2023). Net income: kr34.0m (down 11% from 2Q 2023). Profit margin: 2.3% (down from 2.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 2% per year. Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: kr3.24 (vs kr3.57 in 1Q 2023) First quarter 2024 results: EPS: kr3.24 (down from kr3.57 in 1Q 2023). Revenue: kr1.53b (up 11% from 1Q 2023). Net income: kr68.0m (down 9.3% from 1Q 2023). Profit margin: 4.4% (down from 5.4% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 9% per year. Buy Or Sell Opportunity • Apr 24
Now 21% overvalued Over the last 90 days, the stock has fallen 1.9% to kr73.80. The fair value is estimated to be kr61.19, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 5.0%. Upcoming Dividend • Apr 19
Upcoming dividend of kr2.50 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 03 May 2024. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of British dividend payers (5.9%). In line with average of industry peers (3.4%). Reported Earnings • Apr 05
Full year 2023 earnings released: EPS: kr4.91 (vs kr2.62 in FY 2022) Full year 2023 results: EPS: kr4.91 (up from kr2.62 in FY 2022). Revenue: kr5.76b (up 29% from FY 2022). Net income: kr103.0m (up 87% from FY 2022). Profit margin: 1.8% (up from 1.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 03
Dividend of kr2.50 announced Dividend of kr2.50 is the same as last year. Ex-date: 26th April 2024 Payment date: 3rd May 2024 Dividend yield will be 3.4%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 103% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Mar 26
Now 20% overvalued Over the last 90 days, the stock has fallen 12% to kr70.50. The fair value is estimated to be kr58.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 5.0%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 179% in the next 2 years. Ankündigung • Mar 23
Bulten AB Proposes Dividend, Payable on May 3, 2024 Bulten AB at its Annual General Meeting to be held on April 25, 2024, proposed the profit of SEK 852,901,191 at the disposal of the AGM be allocated so that a total amount of SEK 52,469,980, equivalent to SEK 2.50 per share entitled to dividends, be distributed to the shareholders and that SEK 800,431,211 be carried forward to new accounts. The Board proposed that April 29, 2024 be the record day. If the AGM resolves in accordance with the proposal, the dividend is expected to be paid via Euroclear Sweden AB on May 3, 2024. Buy Or Sell Opportunity • Feb 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to kr69.10. The fair value is estimated to be kr57.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 5.0%. Revenue is forecast to grow by 9.5% in 2 years. Earnings are forecast to grow by 179% in the next 2 years. Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: kr4.91 (vs kr2.62 in FY 2022) Full year 2023 results: EPS: kr4.91 (up from kr2.62 in FY 2022). Revenue: kr5.76b (up 29% from FY 2022). Net income: kr103.0m (up 87% from FY 2022). Profit margin: 1.8% (up from 1.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Ankündigung • Jan 31
Bulten AB (Publ) Makes Changes to Its Executive Management In order to achieve its strategic ambitions in the markets where Bulten operates and further increase the company's innovative power, changes are being made to Bulten's Executive Management Team. The new organization will better support the company's objectives, and its vision to create and deliver the most innovative and sustainable fastener solutions. The following people have been appointed to head up each region: Markus Baum President Region Europe, Bent Wessel-Aas Interim President Region Asia. To further consolidate Bulten's expertise in product development and innovation, the company's engineering resources are also being reorganized. Emmy Pavlovic, formerly SVP Technology and Innovation, is being appointed Chief Technical Officer (CTO). In addition to her existing innovation team, she will now also be responsible for application engineers and future preparation/process engineers. Gathering the engineers in one and the same function will boost the company's ability to respond to customers' future needs for new types of technical solutions. Following these changes, Bulten's EMT now comprises: Christina Hallin Interim President and CEO (from 9 Feb), Anna Åkerblad CFO, Markus Baum President Region Europe, Bent Wessel-Aas Interim President Region Asia, Emmy Pavlovic CTO, Claes Lindroth SVP Purchasing and Quality, Marlene Dybeck SVP HR and Sustainability, Ulrika Hultgren SVP Corporate Communications and IR. Reported Earnings • Oct 28
Third quarter 2023 earnings released: kr1.48 loss per share (vs kr0.67 profit in 3Q 2022) Third quarter 2023 results: kr1.48 loss per share (down from kr0.67 profit in 3Q 2022). Revenue: kr1.38b (up 26% from 3Q 2022). Net loss: kr31.0m (down 321% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Ankündigung • Oct 24
Bulten AB (publ), Annual General Meeting, Apr 25, 2024 Bulten AB (publ), Annual General Meeting, Apr 25, 2024. Reported Earnings • Jul 13
Second quarter 2023 earnings released: EPS: kr1.81 (vs kr0.86 in 2Q 2022) Second quarter 2023 results: EPS: kr1.81 (up from kr0.86 in 2Q 2022). Revenue: kr1.42b (up 41% from 2Q 2022). Net income: kr38.0m (up 111% from 2Q 2022). Profit margin: 2.7% (up from 1.8% in 2Q 2022). The increase in margin was driven by higher revenue. 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 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr84.00, the stock trades at a trailing P/E ratio of 10.4x. Average forward P/E is 10x in the Auto Components industry in Europe. Total returns to shareholders of 65% over the past three years. Upcoming Dividend • Apr 19
Upcoming dividend of kr2.50 per share at 2.8% yield Eligible shareholders must have bought the stock before 26 April 2023. Payment date: 03 May 2023. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 2.8%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (3.0%). Reported Earnings • Apr 06
Full year 2022 earnings released Full year 2022 results: Revenue: kr4.47b (up 20% from FY 2021). Net income: kr55.0m (down 62% from FY 2021). Profit margin: 1.2% (down from 3.8% in FY 2021). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Mar 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director JoaKim Stenberg was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Feb 13
Bulten AB (publ) to Report Q1, 2023 Results on Apr 25, 2023 Bulten AB (publ) announced that they will report Q1, 2023 results at 1:30 PM, Central European Standard Time on Apr 25, 2023 Ankündigung • Jan 17
Bulten AB (publ) (OM:BULTEN) acquired 36.5% stake in TensionCam Systems AB for SEK 4 million. Bulten AB (publ) (OM:BULTEN) acquired 36.5% stake in TensionCam Systems AB for SEK 4 million on January 16, 2023. TensionCam is owned by Emergera AB which holds the remaining 36.5% of the company’s shares.Bulten AB (publ) (OM:BULTEN) completed the acquisition of 36.5% stake in TensionCam Systems AB for on January 16, 2023. Ankündigung • Dec 24
Bulten AB (publ) to Report Fiscal Year 2022 Final Results on Apr 03, 2023 Bulten AB (publ) announced that they will report fiscal year 2022 final results at 12:00 PM, Central European Standard Time on Apr 03, 2023 Board Change • Nov 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director JoaKim Stenberg was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director JoaKim Stenberg was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 05
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director JoaKim Stenberg was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 14
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr1.01b (up 11% from 2Q 2021). Net income: kr18.0m (down 51% from 2Q 2021). Profit margin: 1.8% (down from 4.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 17%, compared to a 104% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jun 06
President & CEO recently bought kr452k worth of stock On the 1st of June, Anders Nyström bought around 7k shares on-market at roughly kr64.92 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr716k. This was Anders' only on-market trade for the last 12 months. Recent Insider Transactions • May 11
Independent Chairman of the Board recently bought kr716k worth of stock On the 2nd of May, Ulf Liljedahl bought around 11k shares on-market at roughly kr67.00 per share. This was the largest purchase by an insider in the last 3 months. This was Ulf's only on-market trade for the last 12 months. Reported Earnings • May 01
First quarter 2022 earnings released: kr1.91 loss per share (vs kr3.24 profit in 1Q 2021) First quarter 2022 results: kr1.91 loss per share (down from kr3.24 profit in 1Q 2021). Revenue: kr1.03b (down 6.3% from 1Q 2021). Net loss: kr40.0m (down 159% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 115% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director JoaKim Stenberg was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 22
Upcoming dividend of kr2.25 per share Eligible shareholders must have bought the stock before 29 April 2022. Payment date: 05 May 2022. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of British dividend payers (4.6%). In line with average of industry peers (3.5%). Reported Earnings • Apr 08
Full year 2021 earnings released: EPS: kr6.81 (vs kr2.64 in FY 2020) Full year 2021 results: EPS: kr6.81 (up from kr2.64 in FY 2020). Revenue: kr3.73b (up 17% from FY 2020). Net income: kr143.0m (up 160% from FY 2020). Profit margin: 3.8% (up from 1.7% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 19%, compared to a 122% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 15% share price decline to kr64.20, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Auto Components industry in Europe. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorated over the past week After last week's 17% share price decline to kr78.70, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Auto Components industry in Europe. Total loss to shareholders of 5.8% over the past three years. Recent Insider Transactions • Feb 16
Independent Director recently bought kr158k worth of stock On the 11th of February, Leif Karlsten bought around 2k shares on-market at roughly kr79.10 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr315k more in shares than they have sold in the last 12 months. Reported Earnings • Feb 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr6.81 (up from kr2.64 in FY 2020). Revenue: kr3.73b (up 17% from FY 2020). Net income: kr143.0m (up 160% from FY 2020). Profit margin: 3.8% (up from 1.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 20%, compared to a 82% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS kr0.67 (vs kr0.91 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr764.0m (down 10% from 3Q 2020). Net income: kr14.0m (down 26% from 3Q 2020). Profit margin: 1.8% (down from 2.2% 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 7% per year whereas the company’s share price has fallen by 8% per year. Reported Earnings • Jul 16
Second quarter 2021 earnings released: EPS kr1.76 (vs kr1.86 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr910.0m (up 106% from 2Q 2020). Net income: kr37.0m (up kr76.0m from 2Q 2020). Profit margin: 4.1% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS kr3.24 (vs kr0.64 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr1.10b (up 34% from 1Q 2020). Net income: kr68.0m (up 423% from 1Q 2020). Profit margin: 6.2% (up from 1.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 24
Upcoming dividend of kr2.00 per share Eligible shareholders must have bought the stock before 29 April 2021. Payment date: 05 May 2021. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (4.1%). In line with average of industry peers (2.0%). Reported Earnings • Apr 09
Full year 2020 earnings released: EPS kr2.64 (vs kr2.65 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: kr3.20b (up 3.3% from FY 2019). Net income: kr55.0m (up 3.8% from FY 2019). Profit margin: 1.7% (in line with FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 13
Full year 2020 earnings released: EPS kr2.64 (vs kr2.65 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: kr3.20b (up 3.3% from FY 2019). Net income: kr55.0m (up 3.8% from FY 2019). Profit margin: 1.7% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 64% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 13
Revenue beats expectations Revenue exceeded analyst estimates by 4.2%. Over the next year, revenue is forecast to grow 26%, compared to a 8.6% growth forecast for the Auto Components industry in the United Kingdom. Analyst Estimate Surprise Post Earnings • Oct 27
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 8.1% at kr853.0m. Revenue is forecast to grow 30% over the next year, compared to a 3.5% growth forecast for the Auto Components industry in the United Kingdom. Reported Earnings • Oct 27
Third quarter earnings released Over the last 12 months the company has reported total profits of kr4.00m, down 94% from the prior year. Total revenue was kr2.90b over the last 12 months, down 5.1% from the prior year. 
