Recent Insider Transactions • May 17
Independent Director recently bought kr872k worth of stock On the 11th of May, Madeleine Persson bought around 60k shares on-market at roughly kr14.53 per share. This transaction increased Madeleine's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr7.5m more in shares than they bought in the last 12 months. New Risk • May 17
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 63% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (63% net debt to equity). Profit margins are more than 30% lower than last year (1.2% net profit margin). Recent Insider Transactions • May 03
Chief Financial Officer recently bought kr247k worth of stock On the 30th of April, Andreas Helmersson bought around 19k shares on-market at roughly kr13.00 per share. This transaction amounted to 76% 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 Andreas' only on-market trade for the last 12 months. Reported Earnings • Apr 08
Full year 2025 earnings released: EPS: kr0.51 (vs kr1.37 in FY 2024) Full year 2025 results: EPS: kr0.51 (down from kr1.37 in FY 2024). Revenue: kr12.8b (up 94% from FY 2024). Net income: kr130.8m (down 58% from FY 2024). Profit margin: 1.0% (down from 4.7% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Commercial Services industry in the United Kingdom. Annuncio • Apr 01
ITAB Shop Concept AB (publ) Announces Peder Strand Declined Re-Election as Board Member ITAB Shop Concept AB (publ) announced that current board member Peder Strand has declined re-election at its AGM to be held on May 6, 2026. Reported Earnings • Feb 11
Full year 2025 earnings released: EPS: kr0.52 (vs kr1.37 in FY 2024) Full year 2025 results: EPS: kr0.52 (down from kr1.37 in FY 2024). Revenue: kr12.8b (up 94% from FY 2024). Net income: kr131.0m (down 58% from FY 2024). Profit margin: 1.0% (down from 4.7% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Commercial Services industry in the United Kingdom. New Risk • Feb 10
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 British stocks, typically moving 4.9% 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 Debt is not well covered by operating cash flow (7.9% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (4.9% average weekly change). Profit margins are more than 30% lower than last year (1.9% net profit margin). Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr15.10, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 18x in the Commercial Services industry in the United Kingdom. Total loss to shareholders of 32% over the past year. Recent Insider Transactions • Nov 06
President & CEO recently sold kr8.8m worth of stock On the 3rd of November, Andreas Elgaard sold around 428k shares on-market at roughly kr20.49 per share. This transaction amounted to 61% 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 Andreas' only on-market trade for the last 12 months. Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: kr0.36 (vs kr0.19 in 3Q 2024) Third quarter 2025 results: EPS: kr0.36 (up from kr0.19 in 3Q 2024). Revenue: kr3.30b (up 112% from 3Q 2024). Net income: kr91.0m (up 112% from 3Q 2024). Profit margin: 2.8% (in line with 3Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Oct 24
ITAB Shop Concept AB (publ) Announces CFO Changes ITAB Shop Concept AB (publ) announced that Andreas Helmersson as the new CFO after having served as Acting CFO since 11 June 2025, with effect from no later than 1 November 2025. Andreas succeeds the Group's current CFO Ulrika Bergmo Sköld, who has been on sick leave for some time. Andreas Helmersson has worked at ITAB since December 2020 as Head of Group Business Controlling. Andreas holds a MSc in Business Administration and has previously worked as a Management Consultant at Strategy& (part of PwC) with acquisitions, due diligence, and various efficiency and development assignments for many leading businesses. Annuncio • Oct 13
ITAB Shop Concept AB (publ), Annual General Meeting, May 06, 2026 ITAB Shop Concept AB (publ), Annual General Meeting, May 06, 2026. Recent Insider Transactions • Jul 23
Chief Operating Officer recently bought kr289k worth of stock On the 18th of July, Mikael Nadelmann bought around 15k shares on-market at roughly kr19.27 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth kr4.3m. This was Mikael's only on-market trade for the last 12 months. Reported Earnings • Jul 17
Second quarter 2025 earnings released: EPS: kr0.059 (vs kr0.44 in 2Q 2024) Second quarter 2025 results: EPS: kr0.059 (down from kr0.44 in 2Q 2024). Revenue: kr3.24b (up 92% from 2Q 2024). Net income: kr15.0m (down 84% from 2Q 2024). Profit margin: 0.5% (down from 5.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jun 18
Independent Chairman of the Board recently bought kr4.3m worth of stock On the 13th of June, Anders Moberg bought around 200k shares on-market at roughly kr21.50 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Anders has been a buyer over the last 12 months, purchasing a net total of kr5.3m worth in shares. Annuncio • Jun 11
ITAB Shop Concept AB (publ) Announces CFO Changes, Effective June 11, 2025 ITAB Shop Concept AB announced that Andreas Helmersson will take the position of Acting CFO of the company as of 11 June 2025. The Group's regular CFO Ulrika Bergmo Sköld is on sick leave and will be replaced until she returns to work. Andreas Helmersson has worked at ITAB since December 2020 as Head of Group Business Controlling and has played a prominent role in the transformation of the ITAB Group in recent years. In the role of Acting CFO, Andreas will be part of ITAB's Group Management. Andreas holds a MSc in Business Administration and has previously served as a Director and strategy consultant at Strategy& within PwC. Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Kerstin Anderson was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Annuncio • May 26
ITAB Shop Concept AB (publ) (OM:ITAB) acquired remaining 82% stake in Signatrix GmbH. ITAB Shop Concept AB (publ) (OM:ITAB) acquired remaining 82% stake in Signatrix GmbH on May 26, 2025. The acquisition is expected to have only a marginal effect on ITAB’s earnings per share during the current financial year.
ITAB Shop Concept AB (publ) (OM:ITAB) completed the acquisition of remaining 82% stake in Signatrix GmbH on May 26, 2025. Recent Insider Transactions • May 19
Chief Financial Officer recently sold kr1.0m worth of stock On the 14th of May, Ulrika Skold sold around 40k shares on-market at roughly kr26.20 per share. This transaction amounted to 18% 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 Ulrika's only on-market trade for the last 12 months. Board Change • May 09
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Lars Kvarnsund was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Annuncio • May 08
ITAB Shop Concept AB (publ) Elects Kerstin Anderson as New Board Member ITAB Shop Concept AB (publ) announced that at its AGM held on 7 May 2025, the shareholders elected Kerstin Anderson as new board member. New Risk • May 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Profit margins are more than 30% lower than last year (3.2% net profit margin). Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • May 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.2% Last year net profit margin: 5.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Profit margins are more than 30% lower than last year (3.2% net profit margin). Shareholders have been diluted in the past year (18% increase in shares outstanding). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to kr24.10, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Commercial Services industry in the United Kingdom. Total returns to shareholders of 103% over the past three years. Reported Earnings • Apr 09
Full year 2024 earnings released: EPS: kr1.37 (vs kr1.29 in FY 2023) Full year 2024 results: EPS: kr1.37 (up from kr1.29 in FY 2023). Revenue: kr6.59b (up 7.3% from FY 2023). Net income: kr310.4m (up 10% from FY 2023). Profit margin: 4.7% (up from 4.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 07
Full year 2024 earnings released: EPS: kr1,371 (vs kr1.29 in FY 2023) Full year 2024 results: EPS: kr1,371 (up from kr1.29 in FY 2023). Revenue: kr6.59b (up 7.3% from FY 2023). Net income: kr310.0m (up 10% from FY 2023). Profit margin: 4.7% (up from 4.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 170% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • Jan 08
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Madeleine Persson was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Buy Or Sell Opportunity • Dec 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to kr21.70. The fair value is estimated to be kr27.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Buy Or Sell Opportunity • Nov 06
Now 21% undervalued Over the last 90 days, the stock has risen 2.1% to kr23.90. The fair value is estimated to be kr30.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 32% in the next 2 years. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: kr0.19 (vs kr0.34 in 3Q 2023) Third quarter 2024 results: EPS: kr0.19 (down from kr0.34 in 3Q 2023). Revenue: kr1.55b (up 1.6% from 3Q 2023). Net income: kr43.0m (down 43% from 3Q 2023). Profit margin: 2.8% (down from 4.9% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Oct 27
Director recently bought kr40m worth of stock On the 22nd of October, Vegard Soraunet bought around 2m shares on-market at roughly kr22.70 per share. This transaction amounted to less than 1% 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 the only on-market transaction from insiders over the last 12 months. Board Change • Oct 15
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Madeleine Persson was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. New Risk • Sep 28
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (16% increase in shares outstanding). Buy Or Sell Opportunity • Sep 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to kr25.20. The fair value is estimated to be kr32.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 64%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 19% in the next 2 years. Buy Or Sell Opportunity • Aug 06
Now 23% undervalued Over the last 90 days, the stock has risen 22% to kr23.40. The fair value is estimated to be kr30.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 64%. Revenue is forecast to grow by 16% in 2 years. Earnings are forecast to grow by 19% in the next 2 years. Reported Earnings • Jul 14
Second quarter 2024 earnings released: EPS: kr0.44 (vs kr0.23 in 2Q 2023) Second quarter 2024 results: EPS: kr0.44 (up from kr0.23 in 2Q 2023). Revenue: kr1.69b (up 12% from 2Q 2023). Net income: kr95.0m (up 86% from 2Q 2023). Profit margin: 5.6% (up from 3.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Board Change • May 22
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Madeleine Persson was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: kr0.46 (vs kr0.18 in 1Q 2023) First quarter 2024 results: EPS: kr0.46 (up from kr0.18 in 1Q 2023). Revenue: kr1.58b (up 4.7% from 1Q 2023). Net income: kr99.0m (up 148% from 1Q 2023). Profit margin: 6.3% (up from 2.7% in 1Q 2023). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 14
Now 41% overvalued after recent price rise Over the last 90 days, the stock has risen 66% to kr25.60. The fair value is estimated to be kr18.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings are also forecast to grow by 9.2% per annum over the same time period. Upcoming Dividend • May 10
Upcoming dividend of kr0.75 per share Eligible shareholders must have bought the stock before 16 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (2.1%). Reported Earnings • Apr 01
Full year 2023 earnings released: EPS: kr1.29 (vs kr1.03 in FY 2022) Full year 2023 results: EPS: kr1.29 (up from kr1.03 in FY 2022). Revenue: kr6.14b (down 11% from FY 2022). Net income: kr281.6m (up 26% from FY 2022). Profit margin: 4.6% (up from 3.3% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Commercial Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr20.60, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 19x in the Commercial Services industry in the United Kingdom. Total returns to shareholders of 45% over the past three years. Board Change • Feb 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Chairman of the Board Anders Moberg was the last independent director to join the board, commencing their role in 2011. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Feb 07
ITAB Shop Concept AB (publ) Proposes Dividend for the year 2023 The Board of Directors of ITAB Shop Concept AB (publ) proposed a dividend of SEK 0.75 (SEK 0.50) per ordinary share for 2023. Annuncio • Jul 04
Jan Frykhammar to Leave the Board as Member of ITAB Shop Concept AB (publ) ITAB Shop Concept AB (publ) announced that board member Jan Frykhammar will leave the Board at his own request with immediate effect due to personal reasons. Jan Frykhammar has been a member of the Board since 2019. In accordance with ITAB’s Articles of Association, the Board of Directors shall consist of a minimum of three and a maximum of nine members. Following Jan Frykhammar’s departure, the Board will consist of six members and thus meet the requirements of the Articles of Association. Recent Insider Transactions • Jul 20
COO & Senior VP of SBU Lighting recently bought kr208k worth of stock On the 13th of July, Jesper Blomquist bought around 20k shares on-market at roughly kr10.40 per share. This was the largest purchase by an insider in the last 3 months. This was Jesper's only on-market trade for the last 12 months. Reported Earnings • Jul 15
Second quarter 2022 earnings released: EPS: kr0.069 (vs kr0.037 in 2Q 2021) Second quarter 2022 results: EPS: kr0.069 (up from kr0.037 in 2Q 2021). Revenue: kr1.75b (up 17% from 2Q 2021). Net income: kr15.0m (up 88% from 2Q 2021). Profit margin: 0.9% (up from 0.5% in 2Q 2021). Over the next year, revenue is forecast to grow 7.6%, compared to a 14% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Mar 10
Chief Financial Officer recently bought kr146k worth of stock On the 8th of March, Ulrika Skold bought around 13k shares on-market at roughly kr11.64 per share. This was the largest purchase by an insider in the last 3 months. This was Ulrika's only on-market trade for the last 12 months. Reported Earnings • Feb 09
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr0.44 (up from kr0.20 loss in FY 2020). Revenue: kr6.25b (up 17% from FY 2020). Net income: kr95.0m (up kr116.0m from FY 2020). Profit margin: 1.5% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Over the next year, revenue is forecast to grow 3.2%, compared to a 9.3% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Board Change • Feb 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Vegard Soraunet was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Vegard Soraunet was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 28
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Vegard Soraunet was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 03
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: kr1.46b (up 16% from 3Q 2020). Net income: kr20.0m (down 38% from 3Q 2020). Profit margin: 1.4% (down from 2.5% in 3Q 2020). Board Change • Oct 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Vegard Soraunet was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director Jan Frykhammar was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Jul 14
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr1.49b (up 30% from 2Q 2020). Net income: kr8.00m (up 167% from 2Q 2020). Profit margin: 0.5% (up from 0.3% in 2Q 2020). Recent Insider Transactions • May 22
Insider recently sold kr644k worth of stock On the 20th of May, Mikael Gustavsson sold around 36k shares on-market at roughly kr17.90 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr8.4m more than they sold in the last 12 months. Reported Earnings • May 14
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr1.52b (up 7.6% from 1Q 2020). Net income: kr49.0m (up 145% from 1Q 2020). Profit margin: 3.2% (up from 1.4% in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Apr 06
Independent Chairman of the Board recently bought kr8.4m worth of stock On the 1st of April, Anders Moberg bought around 500k shares on-market at roughly kr16.80 per share. This was the largest purchase by an insider in the last 3 months. This was Anders' only on-market trade for the last 12 months. Reported Earnings • Feb 10
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: kr5.32b (down 12% from FY 2019). Net loss: kr21.0m (down 118% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 78% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. 
