Anuncio • Oct 09
AMSC ASA Proposes Distribution of the Liquidation Dividend, Payable on or about 29 October 2025 AMSC ASA proposed the distribution of the liquidation dividend and subject To Approve the liquidation settlement by the Company's extraordinary general meeting to be held on 30 October 2025, the Company will have no remaining assets and will be finally liquidated. Dividend amount: NOK 1.481 per share. Ex-date: 21 October 2025. Record date: 22 October 2025. Payment date: on or about 29 October 2025. Date of approval: 8 October 2025. Anuncio • May 02
AMSC ASA Announces Stepping Down of Morten Bakke as Chief Financial Officer AMSC ASA announced on 24 April 2025, the annual general meeting of the company resolved that AMSC shall be liquidated. In connection with the ongoing liquidation process, the Chief Financial Officer (CFO) of AMSC, Morten Bakke, will be stepping down from the role as CFO as of 30 April 2025. Bakke will, however, remain available to support AMSC until the liquidation process is completed, which is expected during third quarter 2025. Anuncio • Apr 29
AMSC ASA to Report Q2, 2025 Results on Aug 27, 2025 AMSC ASA announced that they will report Q2, 2025 results on Aug 27, 2025 Anuncio • Feb 14
AMSC ASA Announces Special Dividend AMSC ASA announced a special dividend of NOK 3.9255 per share to be classified as return of paid in capital. Anuncio • Feb 12
AMSC ASA Announces Dividend, Payable on or About February 25, 2025 AMSC ASA announced that the dividend of NOK 3.9255 per share. Ex-date: 17 February 2025. Record date: 18 February 2025. Payment date: on or about 25 February 2025. Date of approval: 11 February 2025. Anuncio • Dec 13
AMSC ASA, Annual General Meeting, Apr 24, 2025 AMSC ASA, Annual General Meeting, Apr 24, 2025. New Risk • Nov 08
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 48% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 100% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 145% per year for the foreseeable future. High level of non-cash earnings (48% accrual ratio). Revenue is less than US$1m. Declared Dividend • Oct 31
Dividend of kr0.60 announced Shareholders will receive a dividend of kr0.60. Ex-date: 5th November 2024 Payment date: 12th November 2024 Dividend yield will be 32%, which is higher than the industry average of 15%. Sustainability & Growth Dividend is not covered by earnings (167% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 86% to bring the payout ratio under control. However, EPS is expected to decline by 133% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Anuncio • Oct 29
AMSC ASA Approves Cash Dividend, Payable on or about 12 November 2024 AMSC ASA approved payment of cash dividend of NOK 0.60 per share. Last day including right: 4 November 2024. Ex-date: 5 November 2024. Record date: 6 November 2024. Payment date: on or about 12 November 2024. Date of approval: 28 October 2024. New Risk • Jul 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 133% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 167% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 133% per year for the foreseeable future. Revenue is less than US$1m. Anuncio • Jul 16
AMSC ASA Approves Cash Dividend, Payable on or About 30 July 2024 AMSC ASA approved payment of cash dividend of NOK 0.55 per share. Last day including right: 19 July 2024. Ex-date: 22 July 2024. Record date: 23 July 2024. Payment date: on or about 30 July 2024. Date of approval: 15 July 2024. Buy Or Sell Opportunity • May 23
Now 20% undervalued Over the last 90 days, the stock has risen 8.4% to €2.53. The fair value is estimated to be €3.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • May 20
Dividend of kr0.55 announced Shareholders will receive a dividend of kr0.55. Ex-date: 22nd May 2024 Payment date: 30th May 2024 Dividend yield will be 115%, which is higher than the industry average of 15%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not adequately covered by cash flows (93% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Anuncio • May 16
AMSC ASA Approves Cash Dividend, Payable on or About 30 May 2024 AMSC ASA approved the cash dividend of NOK 0.55 per share. Ex-date is on 22 May 2024 with Record date on 23 May 2024. Payment date is on or about 30 May 2024. Date of approval is on 15 May 2024. Buy Or Sell Opportunity • Apr 20
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at €2.42. The fair value is estimated to be €3.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 21% over the last 3 years. Meanwhile, the company became loss making. Anuncio • Feb 29
AMSC ASA Approves Dividend for the Fourth Quarter of 2023, Payable on or About March 15, 2024 On 20th November, an Extraordinary General Meeting in AMSC ASA approved third quarter and fourth quarter 2023 dividends of USD 0.05 per share for each quarter. Fourth quarter dividend is expected to be paid on or about March 15, 2024. Dividends will be classified as return of paid in capital. The shareholders on record as of 7 March 2024. The shares in AMSC will be traded ex-dividend from and including 6 March 2024. Upcoming Dividend • Feb 28
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 06 March 2024. Payment date: 15 March 2024. Trailing yield: 7.9%. Within top quartile of German dividend payers (5.2%). Lower than average of industry peers (16%). Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €2.38, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 8x in the Shipping industry in Europe. Total returns to shareholders of 191% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €2.23 per share. Anuncio • Nov 29
AMSC ASA Approves Dividend Payment, Payable on or About 7 December 2023 AMSC ASA's EGM approval on 20 November, regarding the payment of a quarterly dividend of USD 0.05 per share to the shareholders of AMSC on record as of 29 November 2023. The shares in AMSC ASA will be traded ex dividend USD 0.05 as from 28 November 2023. The NOK amount per share will be 0.5362 and will be paid on or about 7 December 2023. The dividend is classified as a return of paid in capital. New Risk • Nov 24
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 29% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Share price has been highly volatile over the past 3 months (15% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 131% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 49% per year for the foreseeable future. High level of non-cash earnings (29% accrual ratio). Upcoming Dividend • Nov 21
Upcoming dividend of US$0.05 per share at 19% yield Eligible shareholders must have bought the stock before 28 November 2023. Payment date: 07 December 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 19%. Within top quartile of German dividend payers (5.0%). In line with average of industry peers (21%). New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 47% 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 Interest payments are not well covered by earnings (1.5x net interest cover). Share price has been highly volatile over the past 3 months (15% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 241% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 47% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (12% net profit margin). Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorates as stock falls 50% After last week's 50% share price decline to €1.91, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 6x in the Shipping industry in Europe. Total returns to shareholders of 155% over the past three years. Anuncio • Oct 20
AMSC ASA Approves Additional Dividend Following Completion of the Sale of the Jones Act Business, Payable on or about 1 November 2023 AMSC ASA announced the reference to the announcements made earlier on October 19, 2023 regarding the completion of the sale of the Jones Act business. The board of directors of the company has on October 19, 2023 resolved, in accordance with the authorization from the AGM on 25 April 2023, to distribute a USD 170 million additional dividend as further described below. Dividend amount: USD 2.366 per share; Declared currency: USD; Dividends to be paid: NOK 26.19 per share; Last day including right: 23 October 2023; Ex-date: 24 October 2023; Record date: 25 October 2023; and Payment date: On or about 1 November 2023. The additional dividend will be classified as a regular dividend. Anuncio • Aug 23
AMSC ASA Announces Cash Dividend, Payable on or About 7 September 2023 AMSC ASA announced cash dividend of USD 0.12 per share. Ex-date: 29 August 2023. Record date: 30 August 2023. Payment date: on or about 7 September 2023. Date of approval: 22 August 2023. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: US$0.056 (vs US$0.054 in 2Q 2022) Second quarter 2023 results: EPS: US$0.056 (up from US$0.054 in 2Q 2022). Revenue: US$30.9m (up 41% from 2Q 2022). Net income: US$4.00m (up 21% from 2Q 2022). Profit margin: 13% (down from 15% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.2% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • May 26
First quarter 2023 earnings released: EPS: US$0.046 (vs US$0.14 in 1Q 2022) First quarter 2023 results: EPS: US$0.046 (down from US$0.14 in 1Q 2022). Revenue: US$30.3m (up 40% from 1Q 2022). Net income: US$3.30m (down 63% from 1Q 2022). Profit margin: 11% (down from 41% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, while revenues in the Shipping industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 16% per year and the company’s share price has also increased by 16% per year. Anuncio • May 24
AMSC ASA Announces Cash Dividend AMSC ASA announced cash dividend of USD 0.12 per share. Ex-date is 30 May 2023. Record date is 31 May 2023. Payment date is on or about 8 June 2023. Date of approval is 23 May 2023. Reported Earnings • Apr 09
Full year 2022 earnings released: EPS: US$0.29 (vs US$0.22 in FY 2021) Full year 2022 results: EPS: US$0.29 (up from US$0.22 in FY 2021). Revenue: US$93.7m (up 6.2% from FY 2021). Net income: US$18.7m (up 39% from FY 2021). Profit margin: 20% (up from 15% in FY 2021). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 11% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: US$0.29 (vs US$0.22 in FY 2021) Full year 2022 results: EPS: US$0.29 (up from US$0.22 in FY 2021). Revenue: US$93.7m (up 6.2% from FY 2021). Net income: US$18.7m (up 40% from FY 2021). Profit margin: 20% (up from 15% in FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 10% decline forecast for the Shipping industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 23
Third quarter 2022 earnings released: EPS: US$0.083 (vs US$0.058 in 3Q 2021) Third quarter 2022 results: EPS: US$0.083 (up from US$0.058 in 3Q 2021). Revenue: US$22.3m (flat on 3Q 2021). Net income: US$5.10m (up 46% from 3Q 2021). Profit margin: 23% (up from 16% in 3Q 2021). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% decline forecast for the Shipping industry in Europe. Board Change • Nov 22
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. 3 non-independent directors. Director Frank Reite was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Nov 22
AMSC ASA Announces Cash Dividend, Payable on or About 7 December 2022 AMSC ASA announced cash dividend of USD 0.12 per share. Last day including right is 25 November 2022. Ex-date is 28 November 2022. Record date is 29 November 2022. Payment date is on or about 7 December 2022. Date of approval is 21 November 2022. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improved over the past week After last week's 16% share price gain to €4.34, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Shipping industry in Europe. Total returns to shareholders of 55% over the past year. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: US$0.054 (vs US$0.059 in 2Q 2021) Second quarter 2022 results: EPS: US$0.054 (down from US$0.059 in 2Q 2021). Revenue: US$22.0m (flat on 2Q 2021). Net income: US$3.30m (down 8.3% from 2Q 2021). Profit margin: 15% (down from 16% in 2Q 2021). Over the next year, revenue is forecast to grow 14% while the Shipping industry in Germany is not expected to grow. Anuncio • Aug 23
American Shipping Company ASA Announces Cash Dividend, Payable on or About 7 September 2022 American Shipping Company ASA announced payment of cash dividend of USD 0.12 per share. Last day including right is 26 August 2022. Ex-date: 29 August 2022. Record date is 30 August 2022. Payment date is on or about 7 September 2022. Date of approval is 22 August 2022. Reported Earnings • May 20
First quarter 2022 earnings released: EPS: US$0.14 (vs US$0.064 in 1Q 2021) First quarter 2022 results: EPS: US$0.14 (up from US$0.064 in 1Q 2021). Revenue: US$21.7m (flat on 1Q 2021). Net income: US$8.80m (up 126% from 1Q 2021). Profit margin: 41% (up from 18% in 1Q 2021). Over the next year, revenue is forecast to stay flat compared to a 5.3% growth forecast for the industry in Germany. Anuncio • May 20
American Shipping Company ASA Announces Payment of Cash Dividend, Payable on or About 10 June 2022 American Shipping Company ASA announced payment of cash dividend of USD 0.12 per share. Last day including right is 24 May 2022. Ex-date: 25 May 2022. Record date is 27 May 2022. Payment date is on or about 10 June 2022. Board Change • Apr 29
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. 3 non-independent directors. Director Frank Reite was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Anuncio • Apr 23
American Shipping Company Asa Announces Management Appointments American Shipping Company ASA at its annual general meeting held on April 22, 2022, announced that In accordance with the recommendation from the Nomination Committee, Charlotte Håkonsen is elected as chair of the Nomination Committee, for a period of two years. The company also announced that in accordance with the recommendation from the Nomination Committee, Frank O. Reite and Peter Ditlef Knudsen is elected as members of the Board of Directors for a period of two years. Reported Earnings • Apr 05
Full year 2021 earnings released: EPS: US$0.22 (vs US$0.30 in FY 2020) Full year 2021 results: EPS: US$0.22 (down from US$0.30 in FY 2020). Revenue: US$88.2m (flat on FY 2020). Net income: US$13.4m (down 26% from FY 2020). Profit margin: 15% (down from 21% in FY 2020). Reported Earnings • Feb 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.22 (down from US$0.30 in FY 2020). Revenue: US$88.2m (flat on FY 2020). Net income: US$13.4m (down 26% from FY 2020). Profit margin: 15% (down from 21% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 27% growth forecast for the industry in Germany. Anuncio • Feb 25
American Shipping Company Asa Announces Payment of Cash Dividend , Payable on or About 14 March 2022 American Shipping Company ASA announced payment of cash dividend of amount: USD 0.12 per share, Last day including right: 2 March 2022, Ex-date: 3 March 2022, Record date: 4 March 2022, Payment date: on or about 14 March 2022. Reported Earnings • Nov 20
Third quarter 2021 earnings released: EPS US$0.058 (vs US$0.074 loss in 3Q 2020) The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: US$22.3m (flat on 3Q 2020). Net income: US$3.50m (up US$8.00m from 3Q 2020). Profit margin: 16% (up from net loss in 3Q 2020). Anuncio • Sep 29
American Shipping Company ASA (OB:AMSC) commences an Equity Buyback Plan, under the authorization approved on April 20, 2021. American Shipping Company ASA (OB:AMSC) commences share repurchases on September 27, 2021, under the program mandated by the shareholders in the Annual General Meeting held on April 20, 2021. As per the mandate, the company is authorized to repurchase its own shares. The shares will be repurchased at price falling in the price range from NOK 1 per share to NOK 300 per share. The share repurchases will be used in connection with the incentive scheme for employees. The authorization is valid up to the Annual General Meeting in 2022 but no longer than June 30, 2022.
On September 16, 2021, the company authorized to repurchase up to 45,000 shares. The share repurchases will be used in connection with the incentive scheme for employees. Recent Insider Transactions • Sep 29
CEO & President recently bought €64k worth of stock On the 27th of September, Pål Magnussen bought around 25k shares on-market at roughly €2.55 per share. This was the largest purchase by an insider in the last 3 months. This was Pål's only on-market trade for the last 12 months. Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS US$0.059 (vs US$0.018 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: US$21.9m (flat on 2Q 2020). Net income: US$3.60m (up 227% from 2Q 2020). Profit margin: 16% (up from 5.0% in 2Q 2020). Reported Earnings • May 22
First quarter 2021 earnings released: EPS US$0.064 (vs US$0.026 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: US$21.7m (flat on 1Q 2020). Net income: US$3.90m (up 144% from 1Q 2020). Profit margin: 18% (up from 7.3% in 1Q 2020). Anuncio • May 21
American Shipping Company ASA Announces Cash Dividend, Payable on or About 4 June 2021 American Shipping Company ASA announced a cash dividend of USD 0.10 per share payable on or about 4 June 2021 with ex-date of 26 May 2021 and record date of 27 May 2021. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS US$0.30 (vs US$0.14 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: US$88.2m (flat on FY 2019). Net income: US$18.2m (up 119% from FY 2019). Profit margin: 21% (up from 9.5% in FY 2019). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improved over the past week After last week's 25% share price gain to US$3.60, the stock is trading at a trailing P/E ratio of 11.8x, up from the previous P/E ratio of 9.5x. This compares to an average P/E of 15x in the Shipping industry in Europe. Total returns to shareholders over the past year are 46%. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue misses expectations Revenue missed analyst estimates by 0.05%. Over the next year, revenue is forecast to stay flat compared to a 6.9% growth forecast for the Shipping industry in Germany. Reported Earnings • Feb 13
Full year 2020 earnings released: EPS US$0.30 (vs US$0.14 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: US$88.2m (flat on FY 2019). Net income: US$18.1m (up 118% from FY 2019). Profit margin: 21% (up from 9.5% in FY 2019). Is New 90 Day High Low • Feb 12
New 90-day high: €2.91 The company is up 7.0% from its price of €2.73 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Shipping industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: €2.90 The company is up 12% from its price of €2.58 on 23 October 2020. The German market is also up 12% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Shipping industry, which is up 39% over the same period. Analyst Estimate Surprise Post Earnings • Nov 21
Revenue beats expectations Revenue exceeded analyst estimates by 0.9%. Over the next year, revenue is forecast to stay flat compared to a 6.6% growth forecast for the Shipping industry in Germany. Reported Earnings • Nov 21
Third quarter 2020 earnings released: US$0.074 loss per share The company reported a poor third quarter result with weaker earnings and control over expenses, although revenues were flat. Third quarter 2020 results: Revenue: US$22.2m (flat on 3Q 2019). Net loss: US$4.50m (down 255% from profit in 3Q 2019). Is New 90 Day High Low • Oct 29
New 90-day low: €2.37 The company is down 5.0% from its price of €2.50 on 30 July 2020. The German market is also down 5.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Shipping industry, which is up 15% over the same period. Recent Insider Transactions • Sep 21
Chairman of the Board recently bought €12k worth of stock On the 15th of September, Annette Beate Wacknitz Justad bought around 5k shares on-market at roughly €2.70 per share. This was the largest purchase by an insider in the last 3 months. This was Annette Beate Wacknitz's only on-market trade for the last 12 months.