Buy Or Sell Opportunity • Jun 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to kr3.15. The fair value is estimated to be kr3.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 20% over the last 3 years. Meanwhile, the company became loss making. Annonce • Jun 05
Awilco LNG ASA Announces Board and Committee Changes Awilco LNG ASA at its annual general meeting held on June 2, 2026 approved election of members of the Board of Directors, where Anders Onarheim was elected as a new member and Chairman of the Board of Directors. It is further contemplated that Mrs. Synne Syrrist steps down as Chair and continues as a Board member, and that Mr. Jens-Julius R. Nygaard steps down as a Board member. The Nomination Committee's proposal was presented. Mr. Eric Jacobs was elected as chair for a period of two years in 2025. New Risk • May 15
New major risk - Revenue and earnings growth Earnings have declined by 14% 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 Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr703.0m market cap, or US$76.1m). Reported Earnings • Apr 20
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: US$0.084 loss per share (down from US$0.13 profit in FY 2024). Revenue: US$41.6m (down 39% from FY 2024). Net loss: US$11.2m (down 165% from profit in FY 2024). Revenue missed analyst estimates by 23%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. New Risk • Apr 13
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 58% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$2.8m net loss next year). Market cap is less than US$100m (kr705.1m market cap, or US$74.1m). Buy Or Sell Opportunity • Mar 03
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to kr4.00. The fair value is estimated to be kr3.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 5.2% in a year. Earnings are forecast to grow by 75% in the next year. Reported Earnings • Feb 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: US$0.08 loss per share (down from US$0.13 profit in FY 2024). Revenue: US$41.6m (down 39% from FY 2024). Net loss: US$11.2m (down 165% from profit in FY 2024). Revenue missed analyst estimates by 23%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. New Risk • Feb 12
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 Norwegian stocks, typically moving 7.7% 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 Currently unprofitable and not forecast to become profitable next year (US$2.0m net loss next year). Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (kr404.3m market cap, or US$42.4m). Annonce • Dec 05
Awilco LNG ASA, Annual General Meeting, May 13, 2026 Awilco LNG ASA, Annual General Meeting, May 13, 2026. Reported Earnings • Nov 20
Third quarter 2025 earnings released: US$0.002 loss per share (vs US$0.002 loss in 3Q 2024) Third quarter 2025 results: US$0.002 loss per share (in line with 3Q 2024). Revenue: US$12.4m (up 2.7% from 3Q 2024). Net loss: US$333.0k (loss widened 22% from 3Q 2024). Revenue is expected to fall by 6.8% p.a. on average during the next 2 years compared to a 4.4% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 20% per year. Reported Earnings • Aug 22
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: US$0.02 loss per share (down from US$0.07 profit in 2Q 2024). Revenue: US$9.07m (down 60% from 2Q 2024). Net loss: US$3.14m (down 136% from profit in 2Q 2024). Revenue missed analyst estimates by 29%. Earnings per share (EPS) were also behind analyst expectations. Revenue is expected to fall by 4.9% p.a. on average during the next 2 years compared to a 5.8% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. New Risk • Jul 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings are forecast to decline by an average of 160% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (12% net profit margin). Market cap is less than US$100m (kr506.3m market cap, or US$49.6m). Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to kr4.07, the stock trades at a trailing P/E ratio of 7.9x. Average forward P/E is 8x in the Oil and Gas industry in Norway. Total returns to shareholders of 2.5% over the past three years. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr2.87, the stock trades at a trailing P/E ratio of 5.6x. Average forward P/E is 7x in the Oil and Gas industry in Norway. Total loss to shareholders of 33% over the past three years. Reported Earnings • May 22
First quarter 2025 earnings released: US$0.02 loss per share (vs US$0.05 profit in 1Q 2024) First quarter 2025 results: US$0.02 loss per share (down from US$0.05 profit in 1Q 2024). Revenue: US$10.2m (down 54% from 1Q 2024). Net loss: US$3.25m (down 145% from profit in 1Q 2024). Revenue is expected to fall by 19% p.a. on average during the next 2 years compared to a 4.0% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. New Risk • Apr 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 147% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (25% net profit margin). Market cap is less than US$100m (kr351.3m market cap, or US$33.0m). Reported Earnings • Apr 11
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$0.13 (down from US$0.29 in FY 2023). Revenue: US$67.6m (down 16% from FY 2023). Net income: US$17.1m (down 55% from FY 2023). Profit margin: 25% (down from 47% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is expected to fall by 28% p.a. on average during the next 2 years compared to a 3.6% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr2.97, the stock trades at a forward P/E ratio of 78x. Average forward P/E is 6x in the Oil and Gas industry in Norway. Total loss to shareholders of 25% over the past three years. Reported Earnings • Feb 26
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$0.13 (down from US$0.29 in FY 2023). Revenue: US$67.6m (down 16% from FY 2023). Net income: US$17.1m (down 55% from FY 2023). Profit margin: 25% (down from 47% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is expected to fall by 28% p.a. on average during the next 2 years compared to a 3.6% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Annonce • Dec 20
Awilco LNG ASA to Report Fiscal Year 2024 Final Results on Apr 09, 2025 Awilco LNG ASA announced that they will report fiscal year 2024 final results at 12:00 PM, Central European Standard Time on Apr 09, 2025 Annonce • Dec 18
Awilco LNG ASA, Annual General Meeting, May 07, 2025 Awilco LNG ASA, Annual General Meeting, May 07, 2025. Major Estimate Revision • Dec 03
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$72.6m to US$65.2m. EPS estimate fell from US$0.165 to US$0.109 per share. Net income forecast to shrink 76% next year vs 12% growth forecast for Oil and Gas industry in Norway . Consensus price target of kr6.01 unchanged from last update. Share price fell 7.9% to kr4.14 over the past week. Major Estimate Revision • Nov 24
Consensus revenue estimates increase by 11% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$65.2m to US$72.6m. EPS estimate increased from US$0.109 to US$0.165 per share. Net income forecast to shrink 57% next year vs 15% growth forecast for Oil and Gas industry in Norway . Consensus price target of kr6.01 unchanged from last update. Share price fell 7.2% to kr4.25 over the past week. Reported Earnings • Nov 17
Third quarter 2024 earnings released: US$0.002 loss per share (vs US$0.03 profit in 3Q 2023) Third quarter 2024 results: US$0.002 loss per share (down from US$0.03 profit in 3Q 2023). Revenue: US$12.0m (down 23% from 3Q 2023). Net loss: US$272.0k (down 108% from profit in 3Q 2023). Revenue is expected to fall by 28% p.a. on average during the next 3 years compared to a 4.7% decline forecast for the Oil and Gas industry in Norway. 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 1% per year, which means it is significantly lagging earnings growth. New Risk • Nov 14
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 Norwegian stocks, typically moving 5.8% 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: Major Risk Earnings are forecast to decline by an average of 97% per year for the foreseeable future. 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 (5.8% average weekly change). Market cap is less than US$100m (kr835.1m market cap, or US$74.8m). Major Estimate Revision • Nov 14
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$72.6m to US$65.2m. EPS estimate fell from US$0.165 to US$0.109 per share. Net income forecast to shrink 72% next year vs 25% growth forecast for Oil and Gas industry in Norway . Consensus price target of kr6.01 unchanged from last update. Share price fell 19% to kr4.80 over the past week. Declared Dividend • Aug 23
Second quarter dividend of kr0.25 announced Shareholders will receive a dividend of kr0.25. Ex-date: 2nd September 2024 Payment date: 12th September 2024 Dividend yield will be 31%, which is higher than the industry average of 13%. Sustainability & Growth Dividend is covered by both earnings (80% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 105% per year over the past 2 years. However, payments have been volatile during that time. EPS is expected to decline by 97% over the next 3 years. Since a fall of 11% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Aug 22
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: EPS: US$0.07 (down from US$0.08 in 2Q 2023). Revenue: US$22.8m (up 3.2% from 2Q 2023). Net income: US$8.72m (down 21% from 2Q 2023). Profit margin: 38% (down from 50% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is expected to fall by 32% p.a. on average during the next 3 years compared to a 4.9% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 41% per year and the company’s share price has also increased by 41% per year. Upcoming Dividend • Jun 12
Upcoming dividend of kr0.75 per share Eligible shareholders must have bought the stock before 19 June 2024. Payment date: 02 July 2024. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 24%. Within top quartile of Norwegian dividend payers (7.9%). Higher than average of industry peers (12%). Annonce • May 26
Awilco LNG ASA Announces Cash Dividend Payment for First Quarter of 2024, Payable on or About July 2, 2024 On May 22, 2024, the Board of Awilco LNG ASA authorized a cash dividend payment of NOK 0.75 per share to the shareholders on record as of June 20, 2024 for first quarter of 2024. The shares in Awilco LNG ASA will be traded ex. dividend from and including June 19, 2024, and dividend will be paid on or about July 2, 2024. Major Estimate Revision • May 26
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$77.0m to US$75.0m. EPS estimate also fell from US$0.228 per share to US$0.18 per share. Net income forecast to shrink 37% next year vs 9.3% growth forecast for Oil and Gas industry in Norway . Consensus price target down from kr8.69 to kr7.91. Share price fell 2.7% to kr7.99 over the past week. New Risk • Apr 24
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 Norwegian stocks, typically moving 7.2% 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: Major Risk Earnings are forecast to decline by an average of 76% per year for the foreseeable future. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (kr937.1m market cap, or US$85.4m). Reported Earnings • Apr 18
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: US$0.29 (up from US$0.044 in FY 2022). Revenue: US$80.7m (up 57% from FY 2022). Net income: US$38.3m (up US$32.5m from FY 2022). Profit margin: 47% (up from 11% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is expected to fall by 23% p.a. on average during the next 3 years compared to a 4.8% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 61% per year whereas the company’s share price has increased by 58% per year. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr6.79, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Oil and Gas industry in Norway. Total returns to shareholders of 472% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr12.28 per share. Upcoming Dividend • Mar 11
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 18 March 2024. Payment date: 03 April 2024. Payout ratio is a comfortable 71% and this is well supported by cash flows. Trailing yield: 26%. Within top quartile of Norwegian dividend payers (7.7%). Higher than average of industry peers (8.6%). Major Estimate Revision • Mar 06
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$77.1m to US$75.0m. EPS estimate also fell from US$0.236 per share to US$0.206 per share. Net income forecast to shrink 29% next year vs 6.1% growth forecast for Oil and Gas industry in Norway . Consensus price target down from kr12.27 to kr9.99. Share price rose 9.1% to kr7.65 over the past week. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: US$0.29 (vs US$0.044 in FY 2022) Full year 2023 results: EPS: US$0.29 (up from US$0.044 in FY 2022). Revenue: US$80.7m (up 57% from FY 2022). Net income: US$38.3m (up US$32.5m from FY 2022). Profit margin: 47% (up from 11% in FY 2022). The increase in margin was primarily driven by higher revenue. Revenue is expected to fall by 23% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr7.92, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 4x in the Oil and Gas industry in Norway. Total returns to shareholders of 451% over the past three years. Annonce • Feb 28
Awilco LNG ASA Announces Cash Dividend, Payable on or About April 3, 2024 Awilco LNG ASA announced cash dividend of NOK 1.00 per share. Last day including right: March 15, 2024. Ex-date: March 18, 2024 Record date: March 19, 2024. Payment date: on or about April 3, 2024. Date of approval: February 27, 2024. New Risk • Jan 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr1.04b (US$99.1m) 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 Risk Earnings are forecast to decline by an average of 38% per year for the foreseeable future. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (kr1.04b market cap, or US$99.1m). Annonce • Dec 08
Awilco LNG ASA, Annual General Meeting, May 14, 2024 Awilco LNG ASA, Annual General Meeting, May 14, 2024. Upcoming Dividend • Nov 20
Upcoming dividend of kr0.35 per share at 11% yield Eligible shareholders must have bought the stock before 27 November 2023. Payment date: 07 December 2023. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 11%. Within top quartile of Norwegian dividend payers (8.7%). In line with average of industry peers (11%). Reported Earnings • Nov 17
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: US$0.03 (up from US$0.04 loss in 3Q 2022). Revenue: US$15.6m (up 92% from 3Q 2022). Net income: US$3.34m (up US$8.46m from 3Q 2022). Profit margin: 21% (up from net loss in 3Q 2022). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is expected to fall by 17% p.a. on average during the next 3 years compared to a 4.6% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Nov 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 26% 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 (2.2x net interest cover). Earnings are forecast to decline by an average of 26% per year for the foreseeable future. Minor Risk Short dividend paying track record (1 year of continuous dividend payments). New Risk • Oct 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr1.09b (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 Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (kr1.09b market cap, or US$99.7m). Annonce • Aug 23
Awilco LNG ASA Announces Cash Dividend, Payable on or about September 14, 2023 Awilco LNG ASA announced cash dividend of NOK 0.25 per share. Ex-date is August 30, 2023. Record date is August 31, 2023. Payment date is on or about September 14, 2023. Reported Earnings • Aug 23
Second quarter 2023 earnings: Revenues exceed analyst expectations Second quarter 2023 results: Revenue: US$22.1m (up 80% from 2Q 2022). Net income: US$11.0m (up US$11.0m from 2Q 2022). Profit margin: 50% (up from 0.3% in 2Q 2022). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Revenue is expected to fall by 3.1% p.a. on average during the next 3 years compared to a 11% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has increased by 101% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 25
Awilco LNG ASA Announces Dividend, Payable on or About June 15, 2023 Awilco LNG ASA announced dividend of NOK 0.50 per share. Ex-date: May 31, 2023, Record date: June 1, 2023 and Payment date: on or about June 15, 2023. Reported Earnings • May 25
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: US$0.07 (up from US$0.05 in 1Q 2022). Revenue: US$20.7m (up 44% from 1Q 2022). Net income: US$9.05m (up 51% from 1Q 2022). Profit margin: 44% (up from 42% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.9%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 10% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has increased by 93% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 25
Full year 2022 earnings: Revenues in line with analyst expectations Full year 2022 results: Revenue: US$51.5m (down 14% from FY 2021). Net income: US$5.80m (down 73% from FY 2021). Profit margin: 11% (down from 36% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 9.9% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 93% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 17
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$0.04 (down from US$0.16 in FY 2021). Revenue: US$51.5m (down 14% from FY 2021). Net income: US$5.80m (down 73% from FY 2021). Profit margin: 11% (down from 36% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 10% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 70% per year, which means it is significantly lagging earnings growth. Annonce • Feb 17
Awilco LNG ASA Proposes Dividend for the Year 2022, Payable on or About March 9, 2023 Awilco LNG ASA announced that on February 15, 2023 the Board authorized a cash dividend payment of NOK 0.50 per share. A proposal for further quarterly dividend payments will be presented to the Annual General Meeting. Last day including right is February 22, 2023, Ex-date is February 23, 2023, Record date is February 24, 2023 and Payment date is on or about March 9, 2023. Recent Insider Transactions • Feb 10
Non-Executive Director recently sold kr488k worth of stock On the 8th of February, Jon-Aksel Torgersen sold around 56k shares on-market at roughly kr8.71 per share. This transaction amounted to 9.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth kr571k. Insiders have been net sellers, collectively disposing of kr511k more than they bought in the last 12 months. Buying Opportunity • Jan 23
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be kr9.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 55% in 2 years. Earnings is forecast to grow by 496% in the next 2 years. Major Estimate Revision • Dec 06
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$50.9m to US$45.3m. EPS estimate fell from US$0.10 to US$0.05 per share. Net income forecast to grow 368% next year vs 103% growth forecast for Oil and Gas industry in Norway. Consensus price target up from kr9.69 to kr14.04. Share price was steady at kr8.36 over the past week. Recent Insider Transactions • Dec 03
Non-Executive Director recently sold kr571k worth of stock On the 30th of November, Jon-Aksel Torgersen sold around 64k shares on-market at roughly kr8.94 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr898k more than they bought in the last 12 months. Reported Earnings • Nov 30
Third quarter 2022 earnings: Revenues miss analyst expectations Third quarter 2022 results: Revenue: US$8.10m (down 45% from 3Q 2021). Net loss: US$5.10m (down 199% from profit in 3Q 2021). Revenue missed analyst estimates by 34%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 10% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 51% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 16% share price gain to kr8.67, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Oil and Gas industry in Norway. Total returns to shareholders of 221% over the past three years. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non-Executive Director Ole Hvidsten 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. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 15% share price gain to kr8.11, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Oil and Gas industry in Norway. Total returns to shareholders of 108% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improved over the past week After last week's 22% share price gain to kr7.10, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Oil and Gas industry in Norway. Total returns to shareholders of 84% over the past three years. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 22% share price gain to kr7.04, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Oil and Gas industry in Norway. Total returns to shareholders of 97% over the past three years. Major Estimate Revision • Aug 31
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$54.0m to US$51.0m. EPS estimate also fell from US$0.14 per share to US$0.10 per share. Net income forecast to grow 6.1% next year vs 99% growth forecast for Oil and Gas industry in Norway. Consensus price target broadly unchanged at kr6.90. Share price fell 5.8% to kr5.80 over the past week. Reported Earnings • Aug 23
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: US$0 (down from US$0.02 in 2Q 2021). Revenue: US$12.3m (down 3.2% from 2Q 2021). Net income: US$35.0k (down 99% from 2Q 2021). Profit margin: 0.3% (down from 26% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) were also behind analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 31% growth forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.