Board Change • Jul 14
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Pär Nuder was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Jul 04
Azelio AB (Publ) Announces Resignation of Gustaf Albèrt as CFO Azelio AB (publ) announced that Gustaf Albèrt has chosen to end his position as CFO. Gustaf will remain in his current role during the notice period until a replacement is in place. The recruitment process for a new CFO will commence immediately. Annuncio • Jun 30
Azelio AB (Publ) Announces Decline in Re-Election of Elaine Weidman Grunewald as Board Member The Nomination Committee's proposal for resolutions for the Annual General Meeting of Azelio AB (publ) on 30 June 2023 was published through the notice of the Annual General Meeting published on 30 May 2023. As the Board member proposed by the Nomination Committee, Elaine Weidman Grunewald, has announced that she declines re-election, the Nomination Committee has decided to withdraw its proposal in this part. Reported Earnings • Jun 02
First quarter 2023 earnings released: kr0.36 loss per share (vs kr1.13 loss in 1Q 2022) First quarter 2023 results: kr0.36 loss per share (improved from kr1.13 loss in 1Q 2022). Net loss: kr114.5m (loss narrowed 12% from 1Q 2022). Revenue is forecast to grow 65% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electrical industry in Germany. Reported Earnings • Jun 02
First quarter 2023 earnings released: kr0.36 loss per share (vs kr1.13 loss in 1Q 2022) First quarter 2023 results: kr0.36 loss per share (improved from kr1.13 loss in 1Q 2022). Net loss: kr114.5m (loss narrowed 12% from 1Q 2022). Revenue is forecast to grow 65% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electrical industry in Germany. Reported Earnings • Feb 26
Full year 2022 earnings released: kr3.23 loss per share (vs kr3.23 loss in FY 2021) Full year 2022 results: kr3.23 loss per share (in line with FY 2021). Net loss: kr496.7m (loss widened 36% from FY 2021). Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Electrical industry in Germany. Reported Earnings • Feb 26
Full year 2022 earnings released: kr3.23 loss per share (vs kr3.23 loss in FY 2021) Full year 2022 results: kr3.23 loss per share (in line with FY 2021). Net loss: kr496.7m (loss widened 36% from FY 2021). Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Electrical industry in Germany. Annuncio • Feb 10
Azelio AB Appoints Gustaf Albèrt as CFO Gustaf Albèrt has been appointed new CFO of Azelio AB and will take up his position on April 12, 2023. At the same time, Eva Ramström, who has been acting CFO since June 2022, returns to her role as Finance manager.On April 12, 2023, Gustaf Albèrt will take over as CFO of Azelio. Gustaf comes to Azelio from a role as CFO and Deputy CEO of Isofol Medical AB. Prior to that, Gustaf has, among other things, been CEO of Elanders Sverige AB. Breakeven Date Change • Dec 16
Forecast to breakeven in 2024 The analyst covering Azelio expects the company to break even for the first time. New forecast suggests losses will reduce by 63% per year to 2023. The company is expected to make a profit of kr16.1m in 2024. Average annual earnings growth of 83% is required to achieve expected profit on schedule. Annuncio • Dec 01
Azelio AB (publ), Annual General Meeting, May 11, 2023 Azelio AB (publ), Annual General Meeting, May 11, 2023. Reported Earnings • Nov 19
Third quarter 2022 earnings released: kr0.98 loss per share (vs kr0.79 loss in 3Q 2021) Third quarter 2022 results: kr0.98 loss per share (further deteriorated from kr0.79 loss in 3Q 2021). Revenue: kr11.1m (down 64% from 3Q 2021). Net loss: kr113.7m (loss widened 24% from 3Q 2021). Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Electrical industry in Germany. Breakeven Date Change • Nov 16
No longer forecast to breakeven The 2 analysts covering Azelio no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of kr219.9m in 2024. New consensus forecast suggests the company will make a loss of kr237.0m in 2024. Annuncio • Oct 20
Azelio AB (publ) has completed a Composite Units Offering. Azelio AB (publ) has completed a Composite Units Offering.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 28,969,259
Price\Range: SEK 10.36
Transaction Features: Regulation S; Rights Offering; Rule 144A Reported Earnings • Aug 19
Second quarter 2022 earnings released: kr1.19 loss per share (vs kr0.87 loss in 2Q 2021) Second quarter 2022 results: kr1.19 loss per share (down from kr0.87 loss in 2Q 2021). Revenue: kr25.3m (down 33% from 2Q 2021). Net loss: kr137.5m (loss widened 37% from 2Q 2021). Over the next year, revenue is forecast to grow 197%, compared to a 17% growth forecast for the Electrical industry in Germany. Annuncio • Aug 18
Azelio AB (publ) to Report Fiscal Year 2022 Results on Feb 24, 2023 Azelio AB (publ) announced that they will report fiscal year 2022 results on Feb 24, 2023 Annuncio • Jun 14
Azelio Appoints Heads for All Target Markets Azelio AB (publ) has appointed Hans Svanbom as Regional Director United States. Hans, who joined Azelio in 2021, has a long background in IT and telecoms. With this appointment, Azelio has nominated Regional Directors for all of its target markets. Azelio recently decided to initially focus its sales and marketing to four target markets, selected on the basis that the company there can offer customers particularly strong business cases. These markets are the United States, Australia, the MENA region (Middle East and Africa) and southern Africa. The other regional directors that have been appointed are Florian Naumann for Australia, Eren Engur for MENA, and Reinhardt Labuschagne for southern Africa. An important task for the regional directors is to secure a local infrastructure that can prepare, install and maintain projects. For the USA, Azelio has initiated a process to adapt the product to the American market. Annuncio • Jun 07
Azelio Announces CFO Changes Fredrik Wäppling, who has been Azelio's CFO since 2020, is leaving Azelio. Eva Ramström takes over as acting CFO. Azelio and Fredrik Wäppling have agreed that Fredrik's position as the company's CFO will end. As of June 7, 2022, Eva Ramström takes over as acting CFO. Until June 7, 2022, Eva has been Azelio's Finance manager and thus knows the company and the business very well. She has the understanding of the company's goals, plans, and challenges, as well as the right skills and experience, which guarantees a rapid start, maintained continuity, and efficiency in the work. The process to nominate a permanent CFO starts immediately. Reported Earnings • May 12
First quarter 2022 earnings released: kr1.13 loss per share (vs kr0.61 loss in 1Q 2021) First quarter 2022 results: kr1.13 loss per share (down from kr0.61 loss in 1Q 2021). Revenue: kr27.8m (down 31% from 1Q 2021). Net loss: kr130.3m (loss widened 100% from 1Q 2021). Over the next year, revenue is forecast to grow 154%, compared to a 11% growth forecast for the industry in Germany. Breakeven Date Change • Apr 27
No longer forecast to breakeven The 3 analysts covering Azelio no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of kr219.9m in 2024. New consensus forecast suggests the company will make a loss of kr131.0m in 2024. Reported Earnings • Apr 15
Full year 2021 earnings released: kr3.23 loss per share (vs kr2.04 loss in FY 2020) Full year 2021 results: kr3.23 loss per share (down from kr2.04 loss in FY 2020). Revenue: kr149.8m (up 17% from FY 2020). Net loss: kr365.9m (loss widened 90% from FY 2020). Over the next year, revenue is forecast to grow 68%, compared to a 12% growth forecast for the industry in Germany. Annuncio • Apr 12
Azelio AB (publ) Announces Carol M. Browner Declines Re-Election as Board Member Azelio AB (publ) at its annual general meeting to be held on May 12, 2022, announced that it was noted that Carol M. Browner declined re-election as a board member. Breakeven Date Change • Apr 06
No longer forecast to breakeven The 3 analysts covering Azelio no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of kr219.9m in 2024. New consensus forecast suggests the company will make a loss of kr131.0m in 2024. Annuncio • Mar 30
Azelio AB Announces CEO Changes The Board of Directors of Azelio AB has appointed Jonas Wallmander as its new Chief Executive Officer. Jonas Wallmander joined Azelio in 2011 and has been Executive Vice President and part of the Executive Team since 2017. He assumes his new position with immediate effect, replacing Jonas Eklind. Jonas Wallmander has worked in the energy sector since 2005 where he has gained extensive know-how in the field of renewable energy. He was initially recruited to Azelio in 2011 as Chief Operating Officer (then known as Cleanergy), and over the years he has been responsible for large projects and production build-up as well as taking part in project funding, among other things. In his role as Executive Vice President in the Executive Team, Jonas has been responsible for operational and product-related work as well as strategic business development. Jonas Wallmander replaces Jonas Eklind as CEO of Azelio with immediate effect. Annuncio • Mar 28
Azelio AB (publ) to Install U.S. Certification Project for its Long-Duration Energy Storage Product Azelio AB announced that it wiwill install a U.S. certification project for its TES.POD product, a long-duration energy storage solution. The certification project will be conducted in Baton Rouge, LA, in conjunction with MMR Group, an electrical engineering and construction company, based in Baton Rouge. The certification will ensure that the TES.POD product is compliant with U.S. standards. The storage units will be shipped from Azelio's factory in Sweden in April to MMR for adaptation to the U.S. standards before installing the certification project in early fall. The use of solar energy is growing globally, with an increasing number of governments and companies using solar-based electricity and heat, with the limitation that it is available when the sun is shining. Azelio's stores solar energy, or energy from other sources, as heat in recycled aluminum and converts the energy into electricity and usable heat at a low cost around-the-clock. The TES.POD system performance is validated by leading certification company DNV. In addition to the certification, the TES.POD will also be used by MMR Group to demonstrate its capabilities to its customers, and to train its staff on the installation and operational processes of the long-duration energy storage system. The certification project is an important step in Azelio's ambition to expand into the U.S. market. MMR Group is an industry leader in instrumentation and electrical construction, maintenance, and technical services, based in the U.S. and with a global footprint of customers. Reported Earnings • Feb 26
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: kr3.23 loss per share (down from kr2.04 loss in FY 2020). Revenue: kr151.7m (up 19% from FY 2020). Net loss: kr365.9m (loss widened 90% from FY 2020). Revenue missed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 163%, compared to a 15% growth forecast for the industry in Germany. Breakeven Date Change • Dec 23
No longer forecast to breakeven The 2 analysts covering Azelio no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of kr161.6m in 2023. New consensus forecast suggests the company will make a loss of kr56.8m in 2023. Annuncio • Dec 23
Azelio's Energy Storage System TES.POD is Validated by DNV Azelio has been running a verification project of its energy storage system TES.POD during a long period of time. Within the project, leading certification body DNV was appointed to carry out an independent validation of the system. As part of the validation, DNV has performed a due diligence of Azelio's technology, production, R&D and test facilities. DNV h as also taken p art of a significant amount of operational data relating to production and storage capacity, system efficiency and response times. Azelio has now received a validation report from DNV which shows that the system performs in all aspects according to the technical performance specification. The independent validation of Azelio's energy storage system TES.POD, carried out by DNV, demonstrates clearly that the system performs in all aspects according to the technical performance specification. Customers can use the validation as a basis for external financing of projects with Azelio's technology. Previous verification of the system has proven sufficient as a basis for the orders signed by the company to date. The validation now carried out means that larger projects can be financed, in accordance with the company's growth plan. During the validation period, Azelio's TES.POD has been charged with 100 kW for 6 hours and producing electricity from stored energy via a Stirling engine, at the system's nominal power according to the specification of 13 kW for 13 hours. At 13 hours of production at nominal power, the energy storage continues to have a number of hours of remaining production capacity. This further strengthens the competitiveness of the solution as a long duration energy storage system, allowing for intermittent renewable energy from, for example, solar and wind, to be in line with demand and closing the 24-hour circle with clean energy. Reported Earnings • Nov 20
Third quarter 2021 earnings released: kr0.79 loss per share (vs kr0.53 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: kr31.4m (up 24% from 3Q 2020). Net loss: kr91.6m (loss widened 84% from 3Q 2020). Breakeven Date Change • Sep 23
Forecast to breakeven in 2023 The 3 analysts covering Azelio expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of kr229.7m in 2023. Average annual earnings growth of 80% is required to achieve expected profit on schedule. Annuncio • Sep 23
Azelio Started the Production of Its Energy Storage TES.POD Azelio AB (publ) announced production in volume design of Azelio's long-duration energy storage TES.POD has started according to plan. To ensure high quality in both the product and the supply chain, consisting of around seventy European suppliers, production will begin at a low pace before scaling up to high volumes in 2022. Azelio continues its commercialisation as planned and has now reached another important milestone by commencing production of its long-duration energy storage TES.POD in volume design. The production chain consists of the assembly of cylinder kits in the company's facilities in Åmål (Sweden), followed by the final assembly of a complete Stirling engine in its factory in Uddevalla (Sweden). The thermal storage unit is assembled by AQ Systems in Vaggeryd (Sweden), and the complete product is then married at each project site. To secure high quality in the product and supply chain, the initial production pace is low to ensure maintained quality also in high volumes, which are planned for in 2022. Azelio has so far secured orders for two TES.POD units in Sweden and one unit in Dubai, as well as a conditional order from Egypt for twenty TES.POD units, corresponding to 260 kW of electrical output and 3.3 MWh of storage capacity. The company's goal for 2021 is to sign and begin delivery of one or two projects in the size of 100 kW or larger. Reported Earnings • Aug 21
Second quarter 2021 earnings released: kr0.87 loss per share (vs kr0.53 loss in 2Q 2020) The company reported a soft second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: kr38.5m (up 14% from 2Q 2020). Net loss: kr100.3m (loss widened 106% from 2Q 2020). Board Change • Jul 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Pär Nuder was the last independent director to join the board, commencing their role in 2012. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jul 20
Director recently bought €63k worth of stock On the 16th of July, Kent Janer bought around 19k shares on-market at roughly €3.42 per share. In the last 3 months, they made an even bigger purchase worth €107k. Insiders have collectively bought €247k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jul 09
Director recently bought €107k worth of stock On the 5th of July, Kent Janer bought around 25k shares on-market at roughly €4.29 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Breakeven Date Change • May 28
Forecast breakeven pushed back to 2023 The 3 analysts covering Azelio previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 30% per year to 2022. The company is expected to make a profit of kr275.0m in 2023. Average annual earnings growth of 97% is required to achieve expected profit on schedule. Breakeven Date Change • May 22
Forecast breakeven pushed back to 2023 The 3 analysts covering Azelio previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 69% per year to 2022. The company is expected to make a profit of kr503.9m in 2023. Average annual earnings growth of 120% is required to achieve expected profit on schedule. Reported Earnings • May 12
First quarter 2021 earnings released: kr0.61 loss per share (vs kr0.51 loss in 1Q 2020) The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: kr40.9m (up 42% from 1Q 2020). Net loss: kr65.1m (loss widened 44% from 1Q 2020). Reported Earnings • Apr 17
Full year 2020 earnings released: kr2.04 loss per share (vs kr3.80 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: kr127.8m (down 3.6% from FY 2019). Net loss: kr192.6m (loss widened 20% from FY 2019). Annuncio • Mar 12
Azelio AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 595.7406 million. Azelio AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 595.7406 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 10,638,225
Price\Range: SEK 56 Analyst Estimate Surprise Post Earnings • Feb 28
Revenue beats expectations Revenue exceeded analyst estimates by 7.2%. Over the next year, revenue is forecast to grow 65%, compared to a 15% growth forecast for the Electrical industry in Germany. Reported Earnings • Feb 27
Full year 2020 earnings released: kr2.04 loss per share (vs kr3.80 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: kr135.6m (up 2.3% from FY 2019). Net loss: kr192.6m (loss widened 20% from FY 2019). Is New 90 Day High Low • Feb 14
New 90-day high: €7.01 The company is up 113% from its price of €3.30 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 34% over the same period. Annuncio • Jan 26
Azelio and Svea Solar Signs MOU for Joint Projects Using Energy Storage Coupled to Solar PV Azelio and Svea Solar have signed a MoU to develop projects using Azelio's long-duration energy storage, TES.POD®, coupled to PV systems. The collaboration will span over at least 3 projects in 2021, 5 projects in 2022, and 10 projects in 2023. A total of 8 MW of installed power and more than 100 MWh in equivalent storage capacity. Svea Solar is Sweden's solar PV installer. In support of expanding its business offerings into the energy storage segment in Sweden in particular and Europe in general, a collaboration is initiated with Azelio, as a developer of long-duration energy storage. Azelio's storage solution, TES.POD®, stores renewable energy in recycled aluminum. The energy can be dispatched on demand as electricity and heat during the dark hours and at times during the day when direct production is not sufficient. Is New 90 Day High Low • Jan 06
New 90-day high: €5.96 The company is up 125% from its price of €2.65 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 30% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: €4.61 The company is up 121% from its price of €2.09 on 18 September 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Annuncio • Dec 10
Azelio AB (Publ) Wins First Commercial Order for Its Long-Duration Energy Storage from Alec Energy Azelio wins first commercial order for its long-duration energy storage from ALEC Energy, thereby achieving a major milestone for the company. The storage unit will be part of a system in the fourth phase of one of the solar parks, the Mohammed Bin Rashid Al Maktoum Solar Complex in Dubai. This strategically important order is placed on commercial terms, reflecting that it is for a single unit. Azelio's energy storage TES.POD will be part of a system powering a visitor center at the phase IV of the Mohammed bin Rashid Al Maktoum (MBR) Solar Complex. The system will combine Azelio's technology with PV and fast-response equipment such as li-ion batteries. Azelio's TES.POD will handle energy shifting for baseload power in the system, while batteries will be used to manage mini-grid stability. The MBR Solar Complex is spread over a total area of 77 square kilometers in Dubai. Noor Energy 1, a company owned by Dubai Electricity & Water Authority (DEWA), ACWA Power and Silk Road Fund, is currently developing 950 MW of solar energy technology (phase IV) in the solar park. By 2030, the capacity in the MBR Solar Complex is planned to amount to 5,000 MW. The order for the storage unit has been placed to Azelio by ALEC Energy, who is the lead EPC contractor of the project. Azelio and ALEC Energy recently signed a Memorandum of Understanding covering 49 MW installed capacity of Azelio's storage units, starting with a smaller commercial project. ALEC Energy is also installing Azelio's verification project in Abu Dhabi together with Masdar and Khalifa University. Analyst Estimate Surprise Post Earnings • Nov 21
Revenue misses expectations Revenue missed analyst estimates by 23%. Over the next year, revenue is forecast to grow 56%, compared to a 15% growth forecast for the Electrical industry in Germany. Reported Earnings • Nov 21
Third quarter 2020 earnings released: kr0.53 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: kr25.4m (down 17% from 3Q 2019). Net loss: kr49.8m (loss widened 8.0% from 3Q 2019). Is New 90 Day High Low • Oct 21
New 90-day high: €4.39 The company is up 126% from its price of €1.94 on 22 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Annuncio • Oct 20
Azelio and Jet Energy in MoU to Develop Storage Projects with Solar PV in Africa Azelio has signed a Memorandum of Understanding (MoU) with Morocco based JET ENERGY to explore energy storage projects with Azelio's TES.POD in Francophone Africa. The collaboration targets approximately 45 MW capacity of the TES.POD until 2025, with JET ENERGY as project developer. In addition to this MoU, the parties anticipate an extended project pipeline once the first projects are initiated. After cooperating for the installation of Azelio's verification project in Morocco, JET ENERGY and Azelio are teaming up with the signing of a MoU to develop renewable energy projects in Morocco in particular, and in Francophone Africa in general. The collaboration seeks to assess projects utilizing Azelio's storage together with existing and new solar PV installations, to cost-efficiently provide electricity around the clock. The first project targets 50 kWe in 2021, followed by installations of larger scale projects with an expected total of 5 MWe in 2022, 10 MWe in 2023, 15 MWe in 2024 and 15 MWe in 2025. JET ENERGY is an EPC Contractor specialized in construction, operation and maintenance of photovoltaic power plants. With this MoU, Jet Energy seeks to expand its business offerings and establish itself as one of Azelio' technology providers in the region. Is New 90 Day High Low • Sep 28
New 90-day high: €2.54 The company is up 85% from its price of €1.37 on 30 June 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Annuncio • Sep 09
Azelio AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 270.6 million. Azelio AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 270.6 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 12,300,000
Price\Range: SEK 22