Recent Insider Transactions • May 02
Independent Director recently bought kr8.3m worth of stock On the 28th of April, Johan Lannebo bought around 100k shares on-market at roughly kr83.44 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr6.1m more in shares than they have sold in the last 12 months. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: kr0.67 (vs kr0.66 in 1Q 2025) First quarter 2026 results: EPS: kr0.67 (up from kr0.66 in 1Q 2025). Revenue: kr253.8m (up 7.5% from 1Q 2025). Net income: kr12.8m (up 3.0% from 1Q 2025). Profit margin: 5.0% (down from 5.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr78.80, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 27x in the Electronic industry in Sweden. Total returns to shareholders of 246% over the past three years. Annonce • Apr 29
Berner Industrier AB to Report Q1, 2027 Results on Apr 27, 2027 Berner Industrier AB announced that they will report Q1, 2027 results on Apr 27, 2027 Upcoming Dividend • Apr 22
Upcoming dividend of kr1.25 per share Eligible shareholders must have bought the stock before 29 April 2026. Payment date: 06 May 2026. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Swedish dividend payers (4.0%). In line with average of industry peers (1.4%). Declared Dividend • Feb 09
Dividend increased to kr1.25 Dividend of kr1.25 is 32% higher than last year. Ex-date: 29th April 2026 Payment date: 6th May 2026 Dividend yield will be 1.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Feb 07
Now 37% overvalued after recent price rise Over the last 90 days, the stock has risen 41% to kr104. The fair value is estimated to be kr75.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.7% over the last 3 years. Earnings per share has grown by 24%. Annonce • Feb 07
Berner Industrier AB announces Annual dividend, payable on May 06, 2026 Berner Industrier AB announced Annual dividend of SEK 1.2500 per share payable on May 06, 2026, ex-date on April 29, 2026 and record date on April 30, 2026. Annonce • Feb 06
Berner Industrier AB to Report Fiscal Year 2026 Results on Feb 05, 2027 Berner Industrier AB announced that they will report fiscal year 2026 results on Feb 05, 2027 Recent Insider Transactions • Dec 23
Executive VP & CFO recently sold kr2.3m worth of stock On the 18th of December, Henrik Nordin sold around 25k shares on-market at roughly kr92.00 per share. This transaction amounted to 40% 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 Henrik's only on-market trade for the last 12 months. Annonce • Dec 18
Berner Industrier AB (OM:BERNER B) signed an agreement to acquire Typhonix AS for NOK 75 million. Berner Industrier AB (OM:BERNER B) signed an agreement to acquire Typhonix AS for NOK 75 million on December 17, 2025. At closing, a purchase price of NOK 24 million will be paid. In addition, an additional purchase price based on performance in 2025 and 2026 is payable in two instalments until 2027. The maximum possible purchase price is NOK 75 million. The acquisition is financed within Berner Industrier's existing financing. Following the acquisition, Typhonix will continue to be run as an independent company within Berner Industrier, within the Energy & Environment business area.
The acquisition is expected to be completed in the first quarter of 2026 and is estimated to make a positive contribution to Berner Industrier's earnings per share. Recent Insider Transactions • Dec 12
Insider recently sold kr274k worth of stock On the 9th of December, Even Moholdt sold around 3k shares on-market at roughly kr91.40 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr847k. Insiders have been net sellers, collectively disposing of kr2.8m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr85.20, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 17x in the Electronic industry in Sweden. Total returns to shareholders of 353% over the past three years. Recent Insider Transactions • Nov 06
HR Manager & Head of HR recently sold kr324k worth of stock On the 4th of November, Sara Johansson sold around 4k shares on-market at roughly kr77.29 per share. This transaction amounted to 80% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr847k. Insiders have been net sellers, collectively disposing of kr2.5m more than they bought in the last 12 months. Reported Earnings • Nov 05
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: kr1.12 (up from kr0.51 in 3Q 2024). Revenue: kr231.5m (up 6.0% from 3Q 2024). Net income: kr21.4m (up 125% from 3Q 2024). Profit margin: 9.2% (up from 4.3% in 3Q 2024). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) exceeded analyst estimates by 33%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Sep 28
Insider recently sold kr424k worth of stock On the 25th of September, Henrik Westerholm sold around 6k shares on-market at roughly kr70.60 per share. This transaction amounted to 21% 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 kr438k more than they bought in the last 12 months. New Risk • Sep 28
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: kr504k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Significant insider selling over the past 3 months (kr504k sold). Annonce • Sep 18
Berner Industrier AB, Annual General Meeting, Apr 28, 2026 Berner Industrier AB, Annual General Meeting, Apr 28, 2026. Recent Insider Transactions Derivative • Sep 05
President & CEO exercised options to buy kr5.6m worth of stock. On the 3rd of September, Caroline Reuterskiold exercised options to buy 80k shares at a strike price of around kr34.03, costing a total of kr2.7m. This transaction amounted to 127% of their direct individual holding at the time of the trade. Since December 2024, Caroline has owned 62.80k shares directly. Company insiders have collectively bought kr5.6m more than they sold, via options and on-market transactions, in the last 12 months. Annonce • Aug 18
Berner Industrier AB Announces Resignation of Helena Grubb from the the Board of Directors, Effective 31 August 2025 Board member Helena Grubb will leave her position on the Board of Directors of Berner Industrier as of 31 August 2025. The decision has been made in agreement between Helena Grubb and Chairman of the Board Joachim Berner. The background is that Helena Grubb will take on an operational role in the Group Management of a company in the hydraulics industry this autumn, with responsibility for both organic growth and acquisition strategy. As Berner Industrier also has an active acquisition agenda, the parties have jointly agreed that Helena Grubb will leave the Board of Directors in order to minimize the potential risk of conflicts of interest. New Risk • Aug 07
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 Swedish stocks, typically moving 8.8% 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. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Aug 01
Insider recently sold kr80k worth of stock On the 30th of July, Even Moholdt sold around 1k shares on-market at roughly kr80.40 per share. This transaction amounted to 100% 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 kr34k more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr78.60, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 18x in the Electronic industry in Sweden. Total returns to shareholders of 277% over the past three years. Reported Earnings • Jul 20
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: kr0.92 (up from kr0.54 in 2Q 2024). Revenue: kr274.0m (up 6.5% from 2Q 2024). Net income: kr17.2m (up 70% from 2Q 2024). Profit margin: 6.3% (up from 3.9% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jul 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr964.2m (US$98.9m) 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (kr964.2m market cap, or US$98.9m). Price Target Changed • Jul 07
Price target increased by 22% to kr55.00 Up from kr45.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of kr52.60. Stock is up 25% over the past year. The company is forecast to post earnings per share of kr2.98 for next year compared to kr1.96 last year. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr56.60, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Electronic industry in Sweden. Total returns to shareholders of 166% over the past three years. Annonce • May 03
Berner Industrier AB (OM:BERNER B) completed the acquisition of Autofric Ab. Berner Industrier AB (OM:BERNER B) agreed to acquire Autofric Ab for SEK 75 million on April 10, 2025. The purchase price will initially amount to SEK 55 million on a debt-free basis for Autofric, plus a possible earn-out of up to SEK 20 million. The earn-out consideration is based on the company's performance during the period from the closing until the end of the financial year 2028. The acquisition is financed within the Group's existing financing. Autofric will continue to be run as an independent company within Berner Industrier. The transaction is expected to make a positive contribution to the Group's earnings per share. The transaction is expected to be completed in the second quarter of 2025. In 2024, the Autofric Ab had revenue of approximately SEK 60 million.
Berner Industrier AB (OM:BERNER B) completed the acquisition of Autofric Ab on May 2, 2025. Reported Earnings • May 02
First quarter 2025 earnings: EPS exceeds analyst expectations First quarter 2025 results: EPS: kr0.66 (up from kr0.47 in 1Q 2024). Revenue: kr237.0m (down 2.5% from 1Q 2024). Net income: kr12.4m (up 40% from 1Q 2024). Profit margin: 5.2% (up from 3.7% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 20%. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 23
Upcoming dividend of kr0.95 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 07 May 2025. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Swedish dividend payers (4.1%). Higher than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr43.10, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 16x in the Electronic industry in Sweden. Total returns to shareholders of 91% over the past three years. Annonce • Apr 12
Berner Industrier AB (OM:BERNER B) agreed to acquire Autofric Ab for SEK 75 million. Berner Industrier AB (OM:BERNER B) agreed to acquire Autofric Ab for SEK 75 million on April 10, 2025. The consideration will initially amount to SEK 55 million on a debt-free basis for Autofric, plus a possible earn-out of up to SEK 20 million. The earn-out consideration is based on the company's performance during the period from the closing until the end of the financial year 2028. The acquisition is financed within the Group's existing financing. Autofric will continue to be run as an independent company within Berner Industrier. The transaction is expected to make a positive contribution to the Group's earnings per share. The transaction is expected to be completed in the second quarter of 2025. In 2024, the Autofric Ab had revenue of approximately SEK 60 million. Declared Dividend • Feb 20
Dividend increased to kr0.95 Dividend of kr0.95 is 5.6% higher than last year. Ex-date: 30th April 2025 Payment date: 7th May 2025 Dividend yield will be 2.5%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 59% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Feb 19
Berner Industrier AB announces Annual dividend, payable on May 07, 2025 Berner Industrier AB announced Annual dividend of SEK 0.9500 per share payable on May 07, 2025, ex-date on April 30, 2025 and record date on May 02, 2025. Major Estimate Revision • Feb 14
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from kr944.0m to kr982.0m. EPS estimate increased from kr2.35 to kr2.63 per share. Net income forecast to grow 33% next year vs 26% growth forecast for Electronic industry in Sweden. Consensus price target up from kr40.00 to kr45.00. Share price rose 6.1% to kr36.50 over the past week. Price Target Changed • Feb 11
Price target increased by 13% to kr45.00 Up from kr40.00, the current price target is provided by 1 analyst. New target price is 25% above last closing price of kr35.90. Stock is up 14% over the past year. The company is forecast to post earnings per share of kr2.63 for next year compared to kr1.96 last year. Reported Earnings • Feb 07
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: kr1.96 (down from kr2.42 in FY 2023). Revenue: kr967.4m (up 2.6% from FY 2023). Net income: kr36.9m (down 19% from FY 2023). Profit margin: 3.8% (down from 4.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Electronic industry in Sweden. 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 9% per year, which means it is significantly lagging earnings growth. Annonce • Feb 07
Berner Industrier AB to Report Fiscal Year 2025 Results on Feb 06, 2026 Berner Industrier AB announced that they will report fiscal year 2025 results on Feb 06, 2026 Price Target Changed • Jan 23
Price target decreased by 16% to kr40.00 Down from kr47.50, the current price target is provided by 1 analyst. New target price is 29% above last closing price of kr31.00. Stock is up 2.0% over the past year. The company is forecast to post earnings per share of kr1.79 for next year compared to kr2.42 last year. Reported Earnings • Nov 06
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: kr0.51 (down from kr0.77 in 3Q 2023). Revenue: kr218.4m (down 3.0% from 3Q 2023). Net income: kr9.49m (down 34% from 3Q 2023). Profit margin: 4.3% (down from 6.4% in 3Q 2023). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Aug 14
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: kr522k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. 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. Significant insider selling over the past 3 months (kr522k sold). Market cap is less than US$100m (kr733.5m market cap, or US$70.5m). Recent Insider Transactions • Jul 25
President & CEO recently bought kr429k worth of stock On the 22nd of July, Caroline Reuterskiold bought around 10k shares on-market at roughly kr42.90 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Caroline has been a buyer over the last 12 months, purchasing a net total of kr481k worth in shares. Reported Earnings • Jul 22
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: kr0.54 (down from kr0.60 in 2Q 2023). Revenue: kr254.8m (up 3.6% from 2Q 2023). Net income: kr10.1m (down 10% from 2Q 2023). Profit margin: 4.0% (down from 4.6% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.0%. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 05
Price target increased by 27% to kr47.50 Up from kr37.50, the current price target is provided by 1 analyst. New target price is 12% above last closing price of kr42.30. Stock is up 82% over the past year. The company is forecast to post earnings per share of kr2.71 for next year compared to kr2.42 last year. Recent Insider Transactions • May 26
Chief Executive Officer recently bought kr52k worth of stock On the 23rd of May, Caroline Reuterskiold bought around 2k shares on-market at roughly kr34.50 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Caroline's only on-market trade for the last 12 months. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: kr0.47 (vs kr0.47 in 1Q 2023) First quarter 2024 results: EPS: kr0.47. Revenue: kr244.2m (up 2.5% from 1Q 2023). Net income: kr8.88m (flat on 1Q 2023). Profit margin: 3.6% (down from 3.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Electronic industry in Sweden. New Risk • Apr 23
New major risk - Revenue and earnings growth Earnings have declined by 5.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 5.7% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (kr609.7m market cap, or US$56.0m). Upcoming Dividend • Apr 19
Upcoming dividend of kr0.90 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 03 May 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Swedish dividend payers (4.4%). Higher than average of industry peers (1.3%). Declared Dividend • Mar 28
Final dividend increased to kr0.90 Dividend of kr0.90 is 200% higher than last year. Ex-date: 26th April 2024 Payment date: 3rd May 2024 Dividend yield will be 3.5%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 15% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 22
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: kr2.42 (up from kr1.30 in FY 2022). Revenue: kr942.8m (up 12% from FY 2022). Net income: kr45.4m (up 87% from FY 2022). Profit margin: 4.8% (up from 2.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 1.2%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Annonce • Feb 16
Christian Berner Tech Trade AB (publ), Annual General Meeting, Apr 25, 2024 Christian Berner Tech Trade AB (publ), Annual General Meeting, Apr 25, 2024. Agenda: To propose the appointment of Helena Grubb and Pia Irell to the board of directors. Annonce • Feb 15
Sara Mattsson, Bertil Person and Stina Wollenius Not to Stand for Re-Election as Directors of Christian Berner Tech Trade AB (publ) Christian Berner Tech Trade AB (publ) announced that Sara Mattsson, Bertil Person and Stina Wollenius, directors have all declined for re-election at the regular annual general meeting to be held on 25 April 2024. Reported Earnings • Feb 12
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: kr2.42 (up from kr1.30 in FY 2022). Revenue: kr947.4m (up 13% from FY 2022). Net income: kr45.4m (up 87% from FY 2022). Profit margin: 4.8% (up from 2.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 1.2%. Revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Electronic industry in Sweden. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 2 highly experienced directors. Director Carl Rosenblad was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr225.1m (up 13% from 3Q 2022). Net income: kr14.4m (up 19% from 3Q 2022). Profit margin: 6.4% (up from 6.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Electronic industry in Sweden. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr22.20, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Electronic industry in Sweden. Total loss to shareholders of 3.7% over the past three years. Recent Insider Transactions • Sep 15
Chief Executive Officer of Empakk AS. recently bought kr199k worth of stock On the 12th of September, Kjell Liane bought around 8k shares on-market at roughly kr24.84 per share. This transaction amounted to 80% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.2m more in shares than they have sold in the last 12 months. Reported Earnings • Jul 21
Second quarter 2023 earnings: Revenues in line with analyst expectations Second quarter 2023 results: Revenue: kr247.2m (up 16% from 2Q 2022). Net income: kr11.3m (up 57% from 2Q 2022). Profit margin: 4.6% (up from 3.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Electronic industry in Sweden. Recent Insider Transactions • May 15
Chief Executive Officer recently bought kr427k worth of stock On the 12th of May, Caroline Reuterskiold bought around 18k shares on-market at roughly kr24.39 per share. This transaction amounted to 53% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Caroline has been a buyer over the last 12 months, purchasing a net total of kr673k worth in shares. Reported Earnings • Apr 30
First quarter 2023 earnings: Revenues exceed analyst expectations First quarter 2023 results: Revenue: kr239.5m (up 32% from 1Q 2022). Net income: kr8.87m (up 176% from 1Q 2022). Profit margin: 3.7% (up from 1.8% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 25%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electronic industry in Sweden. Valuation Update With 7 Day Price Move • Apr 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr24.60, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Electronic industry in Sweden. Total returns to shareholders of 67% over the past three years. Upcoming Dividend • Apr 21
Upcoming dividend of kr0.30 per share at 2.8% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 05 May 2023. Payout ratio is a comfortable 46% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of Swedish dividend payers (4.9%). Higher than average of industry peers (1.2%). Recent Insider Transactions • Feb 28
Chief Executive Officer recently bought kr246k worth of stock On the 24th of February, Caroline Reuterskiold bought around 12k shares on-market at roughly kr20.50 per share. This transaction amounted to 58% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Caroline's only on-market trade for the last 12 months. Price Target Changed • Feb 24
Price target increased by 49% to kr35.00 Up from kr23.50, the current price target is provided by 1 analyst. New target price is 63% above last closing price of kr21.50. Stock is down 15% over the past year. Reported Earnings • Feb 24
Full year 2022 earnings released Full year 2022 results: Revenue: kr844.8m (up 14% from FY 2021). Net income: kr24.3m (up 7.1% from FY 2021). Profit margin: 2.9% (down from 3.1% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 7.0% growth forecast for the Electronic industry in Sweden.