Anuncio • Jun 05
Altor Equity Partners AB acquired Remaining Assets of Re:NewCell AB (publ) from Re:NewCell AB (publ). Altor Equity Partners AB acquired Remaining Assets of Re:NewCell AB (publ) from Re:NewCell AB (publ) on June 4, 2024.Altor Equity Partners AB completed the acquisition of Remaining Assets of Re:NewCell AB (publ) from Re:NewCell AB (publ) on June 4, 2024. Anuncio • Jan 10
Re:NewCell AB Plans for Restructuring to Strengthen Organization Within Continuous Focus on Sales Re:NewCell AB announced that they are planning to start negotiations with the relevant trade unions regarding restructuring of the organization to improve efficiency while maintaining focus on sales. As part of the restructuring, the local authorities (Arbetsförmedlingen) will also be notified today. The planned restructuring will lead to a decrease in workforce of approximately 25%, just over 30 persons, and will also result in annual savings - reduction of personnel cost and other operating costs - of approximately 35 SEKm in total per annum when finalized. New Risk • Dec 23
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: kr401m Forecast net loss in 2 years: kr27m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. 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 (-kr578m free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr27m net loss in 2 years). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (€32.0m market cap, or US$35.3m). Anuncio • Dec 13
Peter Schulz Joins as Interim CFO at Re:NewCell AB (publ) Effective 1 January 2024 Re:NewCell AB (publ) announced Peter Schulz will join the company in the role of interim Chief Financial Officer (CFO) from 1 January 2024. He comes from a role as CFO at Pacific Basin Shipping (publ.) in Hong Kong, a position he has held for the past six years. Peter Schulz has extensive experience as CFO from both listed and private companies for the last 10 years. Prior to that Peter Schulz spent more than 15 years, and held senior positions, in investment banking in Stockholm, London and Hong Kong, among others with Royal Bank of Canada and ABN Amro. With his extensive and broad experience, he will contribute well to the management team and the company. Breakeven Date Change • Nov 25
Forecast to breakeven in 2025 The 3 analysts covering Re:NewCell expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 30% per year to 2024. The company is expected to make a profit of kr12.8m in 2025. Average annual earnings growth of 82% is required to achieve expected profit on schedule. Breakeven Date Change • Nov 24
Forecast to breakeven in 2025 The 3 analysts covering Re:NewCell expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 30% per year to 2024. The company is expected to make a profit of kr12.8m in 2025. Average annual earnings growth of 82% is required to achieve expected profit on schedule. Reported Earnings • Nov 08
Third quarter 2023 earnings released: kr2.31 loss per share (vs kr2.99 loss in 3Q 2022) Third quarter 2023 results: kr2.31 loss per share (improved from kr2.99 loss in 3Q 2022). Revenue: kr86.1m (up kr83.1m from 3Q 2022). Net loss: kr94.5m (loss narrowed 6.9% from 3Q 2022). Revenue is forecast to grow 82% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Chemicals industry in Germany. New Risk • Nov 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Less than 1 year of cash runway based on free cash flow trend (-kr786m free cash flow). Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr107m net loss in 2 years). Shareholders have been diluted in the past year (13% increase in shares outstanding). Market cap is less than US$100m (€35.4m market cap, or US$37.8m). Anuncio • Nov 07
Re:NewCell AB (publ) to Report Fiscal Year 2023 Final Results on Apr 26, 2024 Re:NewCell AB (publ) announced that they will report fiscal year 2023 final results on Apr 26, 2024 Anuncio • Oct 18
Re:NewCell AB (publ) Announces CEO Changes Re:NewCell AB (publ) announced that the Board has appointed Magnus Håkansson as the new acting CEO. Magnus has solid experience from leading roles in the retail and fashion sector and from leadership in a listed environment. He will start on October 16, 2023 and replaces Patrik Lundström, who has been the company's CEO since 2019. Magnus Håkansson was born in 1963, has a degree in economics from the Stockholm School of Economics and an MBA from MIT Sloan School of Management. He started his career as a management consultant at McKinsey and has since held several leading roles in global growth companies in the retail sector, as well as the pulp industry, including many years with experience from a listed environment. He most recently came from a role as CEO of MediaMarkt Sweden. Breakeven Date Change • Oct 16
Forecast breakeven date pushed back to 2025 The 3 analysts covering Re:NewCell previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 52% per year to 2024. The company is expected to make a profit of kr378.3m in 2025. Average annual earnings growth of 104% is required to achieve expected profit on schedule. New Risk • Oct 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €49.0m (US$51.4m) 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 Less than 1 year of cash runway based on free cash flow trend (-kr786m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Significant insider selling over the past 3 months (€1.4m sold). Market cap is less than US$100m (€49.0m market cap, or US$51.4m). Anuncio • Oct 13
Re:Newcell AB (Publ) Provides Earnings Guidance for the Third Quarter of 2023 Re:NewCell AB (publ) provided earnings guidance for the third quarter of 2023. For the quarter, the company expected to report Net loss of approximately SEK 105 million. Recent Insider Transactions • Oct 10
CEO & MD recently sold €299k worth of stock On the 6th of October, Patrik Lundstrom sold around 109k shares on-market at roughly €2.74 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €1.4m. Patrik has been a net seller over the last 12 months, reducing personal holdings by €1.7m. Reported Earnings • Aug 30
Second quarter 2023 earnings released: kr2.82 loss per share (vs kr2.09 loss in 2Q 2022) Second quarter 2023 results: kr2.82 loss per share (further deteriorated from kr2.09 loss in 2Q 2022). Revenue: kr86.0m (up kr83.5m from 2Q 2022). Net loss: kr105.4m (loss widened 54% from 2Q 2022). Revenue is forecast to grow 78% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Chemicals industry in Germany. Breakeven Date Change • Aug 24
Forecast breakeven date pushed back to 2025 The 2 analysts covering Re:NewCell previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of kr233.9m in 2025. Average annual earnings growth of 73% is required to achieve expected profit on schedule. Recent Insider Transactions • Aug 01
CEO & MD recently sold €1.4m worth of stock On the 27th of July, Patrik Lundstrom sold around 224k shares on-market at roughly €6.20 per share. This transaction amounted to 33% 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 Patrik's only on-market trade for the last 12 months. Anuncio • Jul 17
Re:NewCell AB (publ) Announces Toby Lawton to Leave His Position as CFO Re:NewCell AB (publ) Toby Lawton, CFO at Renewcell AB (publ), has announced that he will leave his position for a similar position in another company. Toby will continue to work as CFO until a successor has been appointed or at the latest until the end of the year. Anuncio • Jul 01
Re:Newcell AB (Publ) Provides Production from Renewcell 1 Guidance in June 2023 Re:NewCell AB (publ) provided production from Renewcell 1 guidance in June 2023. Production from Renewcell 1 is expected to reach 2,200-2,400 metric tons in June 2023, of which 2,100-2,300 metric tons are expected to be of prime quality and 2,200-2,400 metric tons are expected to be delivered to customers. The production in the month has been impacted by maintenance stops to upgrade and install new equipment in the shredding area. Reported Earnings • Apr 30
Full year 2022 earnings released: kr8.99 loss per share (vs kr4.33 loss in FY 2021) Full year 2022 results: kr8.99 loss per share (further deteriorated from kr4.33 loss in FY 2021). Net loss: kr299.9m (loss widened 125% from FY 2021). Revenue is forecast to grow 71% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Chemicals industry in Germany. Reported Earnings • Feb 16
Full year 2022 earnings released: kr8.99 loss per share (vs kr4.33 loss in FY 2021) Full year 2022 results: kr8.99 loss per share (further deteriorated from kr4.33 loss in FY 2021). Net loss: kr299.9m (loss widened 125% from FY 2021). Revenue is forecast to grow 69% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Chemicals industry in Germany. Breakeven Date Change • Feb 08
Forecast to breakeven in 2024 The 2 analysts covering Re:NewCell expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr51.6m in 2024. Average annual earnings growth of 66% is required to achieve expected profit on schedule. Breakeven Date Change • Nov 29
Forecast breakeven date pushed back to 2024 The 2 analysts covering Re:NewCell previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 22% per year to 2023. The company is expected to make a profit of kr118.9m in 2024. Average annual earnings growth of 72% is required to achieve expected profit on schedule. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Om Bhatia is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Anuncio • Nov 04
Re:Newcell AB (Publ) Appoints Tricia Carey as Chief Commercial Officer Re:NewCell AB (publ) strengthens its commercial team with the addition of Tricia Carey as Chief Commercial Officer. Mrs. Carey is a seasoned fashion industry executive with more than 25 years of experience promoting more circular and more sustainable materials within fashion. She has also been a catalyst for the industry-wide conversation around the shift to more climate-friendly and resource-efficient materials as a board member at Textile Exchange and Accelerating Circularity. Prior to joining Renewcell, Mrs. Carey held the position of Director of Global Business Development at the leading Austrian fiber producer Lenzing. About Tricia Carey: Throughout her career, Tricia believes in ‘progress over perfection'. As an advocate for innovation and circularity in the textile and apparel industry, she recently joined Renewcell to accelerate the commercial development of Circulose®, making fashion circular. With a vast global network, as well as experience in brand building, and business development, she will be an important partner to close the loop and optimize the benefits of Circulose®. For more than twenty years, Tricia held various commercial management positions at Lenzing Fibers to establish the TENCEL™ brand, build mill partners and set retailer specifications. Her roles comprised marketing, Americas business development, and global denim segment expansion including the creation of the Carved in Blue platform and numerous collaborative collections with mills and brands. Tricia holds a bachelor's degree in Fashion Merchandising from The Fashion Institute of Technology, as well as certificates in Digital Marketing and Strategy from Cornell University and MIT. Reported Earnings • Oct 29
Third quarter 2022 earnings released: kr2.99 loss per share (vs kr0.80 loss in 3Q 2021) Third quarter 2022 results: kr2.99 loss per share (further deteriorated from kr0.80 loss in 3Q 2021). Net loss: kr101.5m (loss widened 314% from 3Q 2021). Revenue is forecast to grow 82% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Breakeven Date Change • Oct 29
Forecast breakeven date pushed back to 2024 The 2 analysts covering Re:NewCell previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 65% per year to 2023. The company is expected to make a profit of kr122.1m in 2024. Average annual earnings growth of 75% is required to achieve expected profit on schedule. Reported Earnings • Aug 27
Second quarter 2022 earnings released: kr2.09 loss per share (vs kr0.76 loss in 2Q 2021) Second quarter 2022 results: kr2.09 loss per share (down from kr0.76 loss in 2Q 2021). Net loss: kr68.4m (loss widened 192% from 2Q 2021). Over the next year, revenue is forecast to grow 3,859%, compared to a 2.4% growth forecast for the Chemicals industry in Germany. Anuncio • Jul 05
Re:NewCell AB Appoints Toby Lawton as New Chief Financial Officer, Effective October 1, 2022 Re:NewCell AB (publ) announced that Toby Lawton will join the company in the role of Chief Financial Officer. He comes from a role as CFO at SCA, a position he has held for the past five years. Toby brings extensive experience from leadership positions over a two decade career with the publicly listed companies Svenska Cellulosa AB (SCA) in Sweden and Vinda International in Hong Kong. His expertise in financing large scale international projects and operational management within pulp and paper and consumer products industries will strengthen Renewcell’s scaling efforts. Toby Lawton will assume his new position at Renewcell on October 1, 2022. Hugo Petit, Renewcell’s current CFO, will remain as CFO until October 1, 2022. Board Change • Jun 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Om Bhatia is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Anuncio • May 18
Re:Newcell AB (Publ) Announces Executive Changes Re:NewCell AB (publ) announced that at its Annual General Meeting held on 17 May 2022 elected Michael Berg as members of the Board of Directors for the period until the end of the next Annual General Meeting. It was noted that Mia Hemmingson has declined re-election as Chairman of the Board. Michael Berg was elected Chairman of the Board. Reported Earnings • May 05
First quarter 2022 earnings released: kr1.75 loss per share (vs kr0.63 loss in 1Q 2021) First quarter 2022 results: kr1.75 loss per share (down from kr0.63 loss in 1Q 2021). Net loss: kr54.0m (loss widened 181% from 1Q 2021). Over the next year, revenue is forecast to grow 4,106%, compared to a 8.5% growth forecast for the industry in Germany. Anuncio • May 05
Re:NewCell AB (publ) to Report Q1, 2023 Results on May 03, 2023 Re:NewCell AB (publ) announced that they will report Q1, 2023 results on May 03, 2023 Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Om Bhatia is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Breakeven Date Change • Mar 09
Forecast breakeven date moved forward to 2023 The 2 analysts covering Re:NewCell previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of kr37.9m in 2023. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Breakeven Date Change • Feb 19
Forecast breakeven date moved forward to 2023 The 2 analysts covering Re:NewCell previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of kr37.9m in 2023. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Reported Earnings • Feb 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: kr4.33 loss per share (down from kr3.34 loss in FY 2020). Net loss: kr133.4m (loss widened 94% from FY 2020). Revenue exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 1,979%, compared to a 6.5% growth forecast for the industry in Germany. Anuncio • Feb 17
Re:NewCell AB (publ) to Report Q4, 2022 Results on Feb 15, 2023 Re:NewCell AB (publ) announced that they will report Q4, 2022 results on Feb 15, 2023 Anuncio • Feb 16
Re:NewCell AB (publ) Provides Production Guidance for the Year 2022 Re:NewCell AB (publ) provided production guidance for the year 2022. The company expects production of 60,000 metric tons. Breakeven Date Change • Jan 28
Forecast to breakeven in 2024 The 2 analysts covering Re:NewCell expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr5.77m in 2024. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Breakeven Date Change • Jan 07
Forecast to breakeven in 2024 The 2 analysts covering Re:NewCell expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr5.77m in 2024. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Breakeven Date Change • Jan 01
Forecast to breakeven in 2024 The 2 analysts covering Re:NewCell expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr5.77m in 2024. Average annual earnings growth of 59% is required to achieve expected profit on schedule. Reported Earnings • Nov 07
Third quarter 2021 earnings released: kr0.80 loss per share (vs kr0.81 loss in 3Q 2020) Third quarter 2021 results: Net loss: kr24.5m (loss widened 55% from 3Q 2020). Recent Insider Transactions • Jun 25
Plant Manager Ortviken recently bought €11k worth of stock On the 21st of June, Henrik Dahlbom bought around 700 shares on-market at roughly €15.19 per share. In the last 3 months, there was an even bigger purchase from another insider worth €51k. Insiders have collectively bought €148k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 13
Chief Executive Officer recently bought €51k worth of stock On the 11th of June, Patrik Lundstrom bought around 3k shares on-market at roughly €18.20 per share. This was the largest purchase by an insider in the last 3 months. This was Patrik's only on-market trade for the last 12 months. Executive Departure • May 22
Director has left the company On the 19th of May, Erik Karlsson's tenure in the role of Director ended. We don't have any record of a personal shareholding under Erik's name. A total of 3 executives have left over the last 12 months. Executive Departure • May 22
Director has left the company On the 19th of May, Henrik Norlin's tenure in the role of Director ended. We don't have any record of a personal shareholding under Henrik's name. A total of 3 executives have left over the last 12 months. Reported Earnings • May 05
First quarter 2021 earnings released First quarter 2021 results: Net loss: kr19.3m (loss widened 58% from 1Q 2020). Anuncio • Mar 05
Renewcell Awarded Afry an Engineering Assignment for Their Recycled Textile Materials Production Expansion at Sca's Ortviken Paper Mill in Sundsvall, Sweden Renewcell has awarded AFRY an engineering assignment for their recycled textile materials production expansion at SCA's Ortviken paper mill in Sundsvall, Sweden. The assignment includes project and construction management services, process, mechanical and piping engineering, electrical, automation and instrumentation engineering, fire and HVAC design, as well as civil design. The project is a continuation of AFRY's previous feasibility studies. The trend in textiles and design requires sustainable fashion. Customers require fashion companies to reduce their environmental impact through new technologies and innovations for the circular economy. One important element is recycling of textile fibers that is a path towards a more sustainable fashion.