View Future GrowthITAB Group 過去の業績過去 基準チェック /26ITAB Groupは、平均年間23.1%の収益成長を遂げていますが、 Commercial Services業界の収益は、年間 成長しています。収益は、平均年間6% 14.7%収益成長率で 成長しています。 ITAB Groupの自己資本利益率は4.1%であり、純利益率は1.2%です。主要情報23.07%収益成長率20.36%EPS成長率Commercial Services 業界の成長9.67%収益成長率14.67%株主資本利益率4.12%ネット・マージン1.23%次回の業績アップデート16 Jul 2026最近の業績更新お知らせ • Nov 01+ 3 more updatesITAB Shop Concept AB (publ) to Report Fiscal Year 2026 Results on Feb 10, 2027ITAB Shop Concept AB (publ) announced that they will report fiscal year 2026 results at 7:00 AM, Central European Standard Time on Feb 10, 2027Reported Earnings • Oct 29Third 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 4.8% growth forecast for the Commercial Services industry in Germany. 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 19% per year, which means it is significantly lagging earnings growth.お知らせ • Oct 29+ 4 more updatesITAB Shop Concept AB (publ) to Report Nine Months, 2025 Results on Oct 30, 2025ITAB Shop Concept AB (publ) announced that they will report nine months, 2025 results on Oct 30, 2025Reported Earnings • Jul 14Second 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 5.9% growth forecast for the Commercial Services industry in Germany. 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 13% per year, which means it is significantly lagging earnings growth.Reported Earnings • May 15First 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 5.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Reported Earnings • Apr 01Full 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 5.5% growth forecast for the Commercial Services industry in Germany. 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 1% per year, which means it is significantly lagging earnings growth.すべての更新を表示Recent updatesValuation Update With 7 Day Price Move • Jul 07Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €1.43, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Commercial Services industry in Germany. Total returns to shareholders of 81% over the past three years.お知らせ • Apr 01ITAB Shop Concept AB (publ) Announces Peder Strand Declined Re-Election as Board MemberITAB 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.お知らせ • Nov 01+ 3 more updatesITAB Shop Concept AB (publ) to Report Fiscal Year 2026 Results on Feb 10, 2027ITAB Shop Concept AB (publ) announced that they will report fiscal year 2026 results at 7:00 AM, Central European Standard Time on Feb 10, 2027お知らせ • Oct 24ITAB Shop Concept AB (publ) Announces CFO ChangesITAB 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.お知らせ • Oct 16+ 1 more updateITAB Shop Concept AB (publ) Announces Executive ChangesThe Board of Directors of ITAB Shop Concept AB (publ) has on October 16, 2025 appointed Björn Borgman as the new President of the ITAB Group with effect from 1 May 2026. Björn Borgman most recently held the position as CEO of HL Display AB. ITAB's current CEO Andréas Elgaard, who announced his resignation at the end of July 2025, will leave ITAB on 6 January 2026 and the Board has on October 16, 2025 also appointed Glauco Frascaroli as Interim President from 7 January 2026 until Björn Borgman assumes the position on 1 May 2026. Björn Borgman most recently served as CEO of HL Display AB, where he successfully led a similar acquisition journey to the one ITAB is currently undergoing. Through this experience, he has developed a good understanding of ITAB's market dynamics and customer needs as consumer preferences evolve. The acquisition of HMY, which was completed in January 2025, has strengthened ITAB's position as one of the leading players in the European retail market. The integration work has started off well and is based on a clear plan to realize synergies in purchasing, upselling and efficiency improvements - a work that will be further developed and intensified under Björn Borgman's leadership. Björn Borgman has more than 20 years of experience from the consumer and retail sector with leading positions within HL Display and the consumer goods company Reckitt. He has an educational background in Industrial Economics from the Royal Institute of Technology in Stockholm. Andréas Elgaard and Björn Borgman will work together to ensure a smooth handover and transition. Andréas Elgaard's last working day at ITAB will be 6 January 2026, and in light of this, the Board has appointed Glauco Frascaroli as Interim President & CEO from 7 January 2026 until Björn Borgman assumes the position on 1 May 2026.お知らせ • Oct 13ITAB Shop Concept AB (publ), Annual General Meeting, May 06, 2026ITAB Shop Concept AB (publ), Annual General Meeting, May 06, 2026.お知らせ • Jul 30+ 1 more updateAndréas Elgaard to Resign as Chief Executive Officer of ITAB Shop Concept AB (publ), Effective End of January 2026ITAB Shop Concept AB (publ) announced that Andréas Elgaard wishes to step down from his position as CEO of the company. Andréas Elgaard joined the Group in August 2019 and has spent the last six years responsible for developing the One ITAB strategy, which helped the Group navigate through the pandemic years, and for developing and modernizing the Group. This has resulted in a stronger balance sheet and income statement, as well as a doubling of sales. Andréas Elgaard will leave the ITAB Group at the end of his notice period in January 2026, unless the Board decides on an earlier date in light of the recruitment of a new CEO. Andréas Elgaard is leaving ITAB to take up a position as CEO of another company operating in a different industry than ITAB. The integration of HMY will have been ongoing for one year at the end of Andréas Elgaard's notice period. Group management and Andréas Elgaard remain focused on delivering on the synergies identified in accordance with what has been previously communicated.お知らせ • Jun 11ITAB Shop Concept AB (publ) Announces CFO Changes, Effective June 11, 2025ITAB 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.お知らせ • May 26ITAB 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.お知らせ • May 08ITAB Shop Concept AB (publ) Elects Kerstin Anderson as New Board MemberITAB Shop Concept AB (publ) announced that at its AGM held on 7 May 2025, the shareholders elected Kerstin Anderson as new board member.お知らせ • Apr 01+ 1 more updateITAB Shop Concept AB Announces No Dividend for the Year 2024ITAB Shop Concept AB (publ) announced that the Board of Directors proposes that the Company's profit of SEK 2,254 million is to be brought forward. This means that the Board of Directors proposes that no dividend is to be paid to shareholders this year.Buy Or Sell Opportunity • Nov 08Now 20% undervaluedThe stock has been flat over the last 90 days, currently trading at €2.07. The fair value is estimated to be €2.60, 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 29Third 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 4.8% growth forecast for the Commercial Services industry in Germany. 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 19% per year, which means it is significantly lagging earnings growth.お知らせ • Oct 29+ 4 more updatesITAB Shop Concept AB (publ) to Report Nine Months, 2025 Results on Oct 30, 2025ITAB Shop Concept AB (publ) announced that they will report nine months, 2025 results on Oct 30, 2025Recent Insider Transactions • Oct 27Director recently bought €3.5m worth of stockOn the 22nd of October, Vegard Soraunet bought around 2m shares on-market at roughly €1.99 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.Valuation Update With 7 Day Price Move • Sep 28Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €2.67, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Commercial Services industry in Germany. Total returns to shareholders of 123% over the past three years.Buy Or Sell Opportunity • Sep 02Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to €2.26. The fair value is estimated to be €2.90, 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 03Now 23% undervaluedOver the last 90 days, the stock has risen 38% to €2.18. The fair value is estimated to be €2.84, 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 14Second 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 5.9% growth forecast for the Commercial Services industry in Germany. 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 13% per year, which means it is significantly lagging earnings growth.Board Change • May 22Less than half of directors are independentThere 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.Valuation Update With 7 Day Price Move • May 21Investor sentiment improves as stock rises 46%After last week's 46% share price gain to €2.39, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Commercial Services industry in Germany. Total returns to shareholders of 47% over the past three years.お知らせ • May 16+ 1 more updateItab Shop Concept AB (Publ) Announces Board AppointmentsITAB Shop Concept AB (publ) at its annual general meeting held on May 15, 2024, announced the appointment of Amelie de Geer, Lars Kvarnsund and Peder Strand were elected as new Board members.Reported Earnings • May 15First 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 5.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 10Upcoming dividend of kr0.75 per shareEligible 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 German dividend payers (4.6%). In line with average of industry peers (4.1%).Valuation Update With 7 Day Price Move • Apr 19Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to €1.56, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Germany. Total loss to shareholders of 5.2% over the past three years.New Risk • Apr 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% 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 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 (7.1% average weekly change).Buy Or Sell Opportunity • Apr 05Now 26% overvalued after recent price riseOver the last 90 days, the stock has risen 86% to €1.96. The fair value is estimated to be €1.55, 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.Reported Earnings • Apr 01Full 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 5.5% growth forecast for the Commercial Services industry in Germany. 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 1% per year, which means it is significantly lagging earnings growth.Declared Dividend • Feb 09Dividend of kr0.75 announcedShareholders will receive a dividend of kr0.75. Ex-date: 16th May 2024 Payment date: 22nd May 2024 Dividend yield will be 59%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next 2 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 08Full 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: kr282.0m (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 6.2% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings.お知らせ • Feb 07ITAB Shop Concept AB (publ) Proposes Dividend for the year 2023The Board of Directors of ITAB Shop Concept AB (publ) proposed a dividend of SEK 0.75 (SEK 0.50) per ordinary share for 2023.Valuation Update With 7 Day Price Move • Dec 22Investor sentiment improves as stock rises 21%After last week's 21% share price gain to €1.01, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Commercial Services industry in Germany. Total loss to shareholders of 1.2% over the past three years.お知らせ • Nov 04+ 3 more updatesITAB Shop Concept AB (publ) to Report Fiscal Year 2024 Results on Feb 07, 2025ITAB Shop Concept AB (publ) announced that they will report fiscal year 2024 results at 7:00 AM, Central European Standard Time on Feb 07, 2025Reported Earnings • Nov 01Third quarter 2023 earnings released: EPS: kr0.34 (vs kr0.42 in 3Q 2022)Third quarter 2023 results: EPS: kr0.34 (down from kr0.42 in 3Q 2022). Revenue: kr1.53b (down 13% from 3Q 2022). Net income: kr75.0m (down 18% from 3Q 2022). Profit margin: 4.9% (down from 5.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.お知らせ • Oct 07+ 1 more updateITAB Shop Concept AB (publ), Annual General Meeting, May 15, 2024ITAB Shop Concept AB (publ), Annual General Meeting, May 15, 2024.Recent Insider Transactions • Sep 14Insider recently sold €104k worth of stockOn the 8th of September, Jesper Blomquist sold around 145k shares on-market at roughly €0.72 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. This was the only on-market transaction from insiders over the last 12 months.Reported Earnings • Jul 14Second quarter 2023 earnings released: EPS: kr0.23 (vs kr0.087 in 2Q 2022)Second quarter 2023 results: EPS: kr0.23 (up from kr0.087 in 2Q 2022). Revenue: kr1.50b (down 12% from 2Q 2022). Net income: kr51.0m (up 168% from 2Q 2022). Profit margin: 3.4% (up from 1.1% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Reported Earnings • Jul 14Second quarter 2023 earnings released: EPS: kr0.23 (vs kr0.087 in 2Q 2022)Second quarter 2023 results: EPS: kr0.23 (up from kr0.087 in 2Q 2022). Revenue: kr1.50b (down 12% from 2Q 2022). Net income: kr51.0m (up 168% from 2Q 2022). Profit margin: 3.4% (up from 1.1% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.Buying Opportunity • Jul 04Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 18%. The fair value is estimated to be €0.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Earnings per share has grown by 90%. Revenue is forecast to grow by 0.5% in 2 years. Earnings is forecast to grow by 48% in the next 2 years.お知らせ • Jul 04Jan 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.Board Change • May 17Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Roberto Monti was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • May 11First quarter 2023 earnings released: EPS: kr0.18 (vs kr0.25 in 1Q 2022)First quarter 2023 results: EPS: kr0.18 (down from kr0.25 in 1Q 2022). Revenue: kr1.51b (down 15% from 1Q 2022). Net income: kr40.0m (down 26% from 1Q 2022). Profit margin: 2.7% (down from 3.0% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.お知らせ • May 11+ 1 more updateITAB Shop Concept AB (publ) Announces Board AppointmentsITAB Shop Concept AB (publ) at its Annual General Meeting of Shareholders held on 10 May 2023, Karin Eriksson and Madeleine Persson were elected as new Board members.Reported Earnings • Feb 09Full year 2022 earnings released: EPS: kr1.02 (vs kr0.50 in FY 2021)Full year 2022 results: EPS: kr1.02 (up from kr0.50 in FY 2021). Revenue: kr6.87b (up 10.0% from FY 2021). Net income: kr223.0m (up 134% from FY 2021). Profit margin: 3.2% (up from 1.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.お知らせ • Feb 08ITAB Shop Concept AB (publ) Proposes Dividend for 2022ITAB Shop Concept AB (publ) proposed a dividend of SEK 0.50 (-) per ordinary share for 2022.お知らせ • Nov 10Itab Shop Concept AB (Publ) Appoints Nomination Committee for Annual General Meeting 2023The Nomination Committee ahead of the Annual General Meeting on 10 May 2023 in ITAB Shop Concept AB (publ) is composed of Åsa Otterlund (appointed by Aeternum Capital), Ulf Hedlundh (appointed by Pomona-gruppen) and Petter Fägersten (appointed by Övre Kullen), with Åsa Otterlund as Chairperson. The Annual General Meeting in ITAB on 10 May 2022 resolved that the Company's Nomination Committee ahead of the next following Annual General Meeting in 2023 is to comprise three members and that the Chairman of the Board is to be tasked with contacting the three largest shareholders and requesting that they appoint one member each. The selection of shareholders to contact is to be based on the share register maintained by Euroclear Sweden as of 31 August 2022. Unless otherwise agreed by the members, the Chairman of the Nomination Committee is to be the member appointed by the largest shareholder. The composition of the Nomination Committee is to be announced not later than six months prior to the Annual General Meeting 2023. In accordance with this, the shareholders Aeternum Capital AS, Pomona-gruppen AB and Övre Kullen AB have appointed one member each.Reported Earnings • Oct 29Third quarter 2022 earnings released: EPS: kr0.42 (vs kr0.092 in 3Q 2021)Third quarter 2022 results: EPS: kr0.42 (up from kr0.092 in 3Q 2021). Revenue: kr1.75b (up 20% from 3Q 2021). Net income: kr91.0m (up 355% from 3Q 2021). Profit margin: 5.2% (up from 1.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 21% per year.Reported Earnings • Jul 14Second 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 1.7%, compared to a 12% growth forecast for the industry in Germany. 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 30% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Feb 25Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €1.09, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 4.4% over the past three years.Reported Earnings • Feb 09Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull 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 23% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.お知らせ • Feb 08ITAB Shop Concept AB (publ) Announces Dividend PolicyITAB Shop Concept AB (publ) announced that as before, dividends over a longer period should follow the result and correspond to at least 30% of the company's profit after tax. However, dividends will be adjusted to the company's investment requirements and any share repurchase program.Reported Earnings • Nov 03Third quarter 2021 earnings releasedThe 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). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance.Reported Earnings • Jul 14Second quarter 2021 earnings releasedThe 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 22Insider recently sold €63k worth of stockOn the 20th of May, Mikael Gustavsson sold around 36k shares on-market at roughly €1.76 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €822k more than they sold in the last 12 months.Reported Earnings • May 13First quarter 2021 earnings releasedThe 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).Recent Insider Transactions • Apr 07Independent Chairman of the Board recently bought €818k worth of stockOn the 1st of April, Anders Moberg bought around 500k shares on-market at roughly €1.64 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.お知らせ • Mar 09ITAB Shop Concept AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 767.875725 million.ITAB Shop Concept AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 767.875725 million. Security Name: Class B Shares Security Type: Common Stock Securities Offered: 102,383,430 Price\Range: SEK 7.5 Transaction Features: Rights OfferingReported Earnings • Feb 10Full year 2020 earnings releasedThe 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).Is New 90 Day High Low • Feb 04New 90-day high: €2.30The company is up 85% from its price of €1.24 on 06 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 44% over the same period.お知らせ • Jan 29ITAB Shop Concept AB (publ) Updates Earnings Guidance for the Financial Year 2020ITAB Shop Concept AB (publ) updated earnings guidance for the financial year 2020. For the period, the company expects to report an adjusted EBITDA result, before non- recurring costs for the financial year ending 31 December 2020, which will be significantly higher than communicated in ITAB's preliminary guidance on 10 July 2020. Adjusted EBITDA for the financial year 2020 before restructuring costs and certain items relating to non- recurring inventory write-downs is expected to amount to approximately SEK 575 million, compared to the range of SEK 380 - 420 million that was communicated on July 10, 2020.お知らせ • Jan 16ITAB Shop Concept AB (Publ) Elects Vegard Søraunet as A New Board MemberITAB Shop Concept AB (publ), at its EGM held on January 15, 2021, announced that Vegard Søraunet is elected as a new board member and that Vegard Søraunet shall receive remuneration in accordance with the remuneration level that the annual general meeting 2020 resolved on proportionate to the mandate period.Is New 90 Day High Low • Dec 31New 90-day high: €1.69The company is up 33% from its price of €1.27 on 02 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 32% over the same period.Recent Insider Transactions • Dec 26Chief Financial Officer recently bought €20k worth of stockOn the 22nd of December, Ulrika Sköld bought around 13k shares on-market at roughly €1.53 per share. In the last 3 months, there was an even bigger purchase from another insider worth €47k. This was Ulrika's only on-market trade for the last 12 months.Recent Insider Transactions • Dec 21COO & Senior VP of SBU Lighting recently bought €47k worth of stockOn the 15th of December, Jesper Blomquist bought around 34k shares on-market at roughly €1.38 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.Recent Insider Transactions • Dec 20COO & Senior VP of SBU Lighting recently bought €47k worth of stockOn the 15th of December, Jesper Blomquist bought around 34k shares on-market at roughly €1.38 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.Is New 90 Day High Low • Dec 09New 90-day high: €1.43The company is up 14% from its price of €1.25 on 10 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Commercial Services industry, which is up 20% over the same period.Reported Earnings • Oct 29Third quarter earnings releasedOver the last 12 months the company has reported total losses of kr3.00m, with earnings decreasing by kr141.8m from the prior year. Total revenue was kr5.33b over the last 12 months, down 12% from the prior year.Is New 90 Day High Low • Oct 08New 90-day high: €1.42The company is up 33% from its price of €1.07 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 3.0% over the same period.収支内訳ITAB Group の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史DB:29I0 収益、費用、利益 ( )SEK Millions日付収益収益G+A経費研究開発費31 Mar 2612,8831592,428031 Dec 2512,7801312,408030 Sep 2511,1292162,186030 Jun 259,3851681,939031 Mar 257,8282481,638031 Dec 246,5853101,376030 Sep 246,4153531,330030 Jun 246,3913851,283031 Mar 246,2103411,256031 Dec 236,1392821,262030 Sep 236,2402301,258030 Jun 236,4612461,241031 Mar 236,6572141,243031 Dec 226,8682241,215030 Sep 226,8881741,014030 Jun 226,5631021,053031 Mar 226,280881,086031 Dec 216,087871,127030 Sep 215,872-31,373030 Jun 215,705101,341031 Mar 215,43081,286031 Dec 205,323-211,300030 Sep 205,333-31,338030 Jun 205,488-131,393031 Mar 205,877381,460031 Dec 196,0641201,469030 Sep 196,0681391,431030 Jun 196,1301501,428031 Mar 196,1531401,438031 Dec 186,031901,434030 Sep 186,1512081,439030 Jun 186,3442841,422031 Mar 186,3423001,394031 Dec 176,3813191,376030 Sep 176,5062611,357030 Jun 176,1912561,284031 Mar 175,8482561,187031 Dec 165,4172411,082030 Sep 165,005315985030 Jun 165,041323973031 Mar 165,131343972031 Dec 155,193350978030 Sep 154,9903239700質の高い収益: 29I0は 高品質の収益 を持っています。利益率の向上: 29I0の現在の純利益率 (1.2%)は、昨年(3.2%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 29I0の収益は過去 5 年間で年間23.1%増加しました。成長の加速: 29I0は過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: 29I0は過去 1 年間で収益成長率がマイナス ( -36.1% ) となったため、 Commercial Services業界平均 ( 17.8% ) と比較することが困難です。株主資本利益率高いROE: 29I0の 自己資本利益率 ( 4.1% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YCommercial-services 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/15 18:01終値2026/07/15 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋ITAB Group AB (publ) 3 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。7 アナリスト機関Johan BrownABG Sundal Collier SponsoredMikael HolmDanske BankKarl-Johan BonnevierDNB Carnegie4 その他のアナリストを表示
お知らせ • Nov 01+ 3 more updatesITAB Shop Concept AB (publ) to Report Fiscal Year 2026 Results on Feb 10, 2027ITAB Shop Concept AB (publ) announced that they will report fiscal year 2026 results at 7:00 AM, Central European Standard Time on Feb 10, 2027
Reported Earnings • Oct 29Third 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 4.8% growth forecast for the Commercial Services industry in Germany. 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 19% per year, which means it is significantly lagging earnings growth.
お知らせ • Oct 29+ 4 more updatesITAB Shop Concept AB (publ) to Report Nine Months, 2025 Results on Oct 30, 2025ITAB Shop Concept AB (publ) announced that they will report nine months, 2025 results on Oct 30, 2025
Reported Earnings • Jul 14Second 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 5.9% growth forecast for the Commercial Services industry in Germany. 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 13% per year, which means it is significantly lagging earnings growth.
Reported Earnings • May 15First 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 5.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Reported Earnings • Apr 01Full 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 5.5% growth forecast for the Commercial Services industry in Germany. 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 1% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jul 07Investor sentiment improves as stock rises 16%After last week's 16% share price gain to €1.43, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Commercial Services industry in Germany. Total returns to shareholders of 81% over the past three years.
お知らせ • Apr 01ITAB Shop Concept AB (publ) Announces Peder Strand Declined Re-Election as Board MemberITAB 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.
お知らせ • Nov 01+ 3 more updatesITAB Shop Concept AB (publ) to Report Fiscal Year 2026 Results on Feb 10, 2027ITAB Shop Concept AB (publ) announced that they will report fiscal year 2026 results at 7:00 AM, Central European Standard Time on Feb 10, 2027
お知らせ • Oct 24ITAB Shop Concept AB (publ) Announces CFO ChangesITAB 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.
お知らせ • Oct 16+ 1 more updateITAB Shop Concept AB (publ) Announces Executive ChangesThe Board of Directors of ITAB Shop Concept AB (publ) has on October 16, 2025 appointed Björn Borgman as the new President of the ITAB Group with effect from 1 May 2026. Björn Borgman most recently held the position as CEO of HL Display AB. ITAB's current CEO Andréas Elgaard, who announced his resignation at the end of July 2025, will leave ITAB on 6 January 2026 and the Board has on October 16, 2025 also appointed Glauco Frascaroli as Interim President from 7 January 2026 until Björn Borgman assumes the position on 1 May 2026. Björn Borgman most recently served as CEO of HL Display AB, where he successfully led a similar acquisition journey to the one ITAB is currently undergoing. Through this experience, he has developed a good understanding of ITAB's market dynamics and customer needs as consumer preferences evolve. The acquisition of HMY, which was completed in January 2025, has strengthened ITAB's position as one of the leading players in the European retail market. The integration work has started off well and is based on a clear plan to realize synergies in purchasing, upselling and efficiency improvements - a work that will be further developed and intensified under Björn Borgman's leadership. Björn Borgman has more than 20 years of experience from the consumer and retail sector with leading positions within HL Display and the consumer goods company Reckitt. He has an educational background in Industrial Economics from the Royal Institute of Technology in Stockholm. Andréas Elgaard and Björn Borgman will work together to ensure a smooth handover and transition. Andréas Elgaard's last working day at ITAB will be 6 January 2026, and in light of this, the Board has appointed Glauco Frascaroli as Interim President & CEO from 7 January 2026 until Björn Borgman assumes the position on 1 May 2026.
お知らせ • Oct 13ITAB Shop Concept AB (publ), Annual General Meeting, May 06, 2026ITAB Shop Concept AB (publ), Annual General Meeting, May 06, 2026.
お知らせ • Jul 30+ 1 more updateAndréas Elgaard to Resign as Chief Executive Officer of ITAB Shop Concept AB (publ), Effective End of January 2026ITAB Shop Concept AB (publ) announced that Andréas Elgaard wishes to step down from his position as CEO of the company. Andréas Elgaard joined the Group in August 2019 and has spent the last six years responsible for developing the One ITAB strategy, which helped the Group navigate through the pandemic years, and for developing and modernizing the Group. This has resulted in a stronger balance sheet and income statement, as well as a doubling of sales. Andréas Elgaard will leave the ITAB Group at the end of his notice period in January 2026, unless the Board decides on an earlier date in light of the recruitment of a new CEO. Andréas Elgaard is leaving ITAB to take up a position as CEO of another company operating in a different industry than ITAB. The integration of HMY will have been ongoing for one year at the end of Andréas Elgaard's notice period. Group management and Andréas Elgaard remain focused on delivering on the synergies identified in accordance with what has been previously communicated.
お知らせ • Jun 11ITAB Shop Concept AB (publ) Announces CFO Changes, Effective June 11, 2025ITAB 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.
お知らせ • May 26ITAB 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.
お知らせ • May 08ITAB Shop Concept AB (publ) Elects Kerstin Anderson as New Board MemberITAB Shop Concept AB (publ) announced that at its AGM held on 7 May 2025, the shareholders elected Kerstin Anderson as new board member.
お知らせ • Apr 01+ 1 more updateITAB Shop Concept AB Announces No Dividend for the Year 2024ITAB Shop Concept AB (publ) announced that the Board of Directors proposes that the Company's profit of SEK 2,254 million is to be brought forward. This means that the Board of Directors proposes that no dividend is to be paid to shareholders this year.
Buy Or Sell Opportunity • Nov 08Now 20% undervaluedThe stock has been flat over the last 90 days, currently trading at €2.07. The fair value is estimated to be €2.60, 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 29Third 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 4.8% growth forecast for the Commercial Services industry in Germany. 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 19% per year, which means it is significantly lagging earnings growth.
お知らせ • Oct 29+ 4 more updatesITAB Shop Concept AB (publ) to Report Nine Months, 2025 Results on Oct 30, 2025ITAB Shop Concept AB (publ) announced that they will report nine months, 2025 results on Oct 30, 2025
Recent Insider Transactions • Oct 27Director recently bought €3.5m worth of stockOn the 22nd of October, Vegard Soraunet bought around 2m shares on-market at roughly €1.99 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.
Valuation Update With 7 Day Price Move • Sep 28Investor sentiment improves as stock rises 22%After last week's 22% share price gain to €2.67, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Commercial Services industry in Germany. Total returns to shareholders of 123% over the past three years.
Buy Or Sell Opportunity • Sep 02Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 11% to €2.26. The fair value is estimated to be €2.90, 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 03Now 23% undervaluedOver the last 90 days, the stock has risen 38% to €2.18. The fair value is estimated to be €2.84, 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 14Second 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 5.9% growth forecast for the Commercial Services industry in Germany. 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 13% per year, which means it is significantly lagging earnings growth.
Board Change • May 22Less than half of directors are independentThere 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.
Valuation Update With 7 Day Price Move • May 21Investor sentiment improves as stock rises 46%After last week's 46% share price gain to €2.39, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 14x in the Commercial Services industry in Germany. Total returns to shareholders of 47% over the past three years.
お知らせ • May 16+ 1 more updateItab Shop Concept AB (Publ) Announces Board AppointmentsITAB Shop Concept AB (publ) at its annual general meeting held on May 15, 2024, announced the appointment of Amelie de Geer, Lars Kvarnsund and Peder Strand were elected as new Board members.
Reported Earnings • May 15First 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 5.5% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 10Upcoming dividend of kr0.75 per shareEligible 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 German dividend payers (4.6%). In line with average of industry peers (4.1%).
Valuation Update With 7 Day Price Move • Apr 19Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to €1.56, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Commercial Services industry in Germany. Total loss to shareholders of 5.2% over the past three years.
New Risk • Apr 17New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% 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 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 (7.1% average weekly change).
Buy Or Sell Opportunity • Apr 05Now 26% overvalued after recent price riseOver the last 90 days, the stock has risen 86% to €1.96. The fair value is estimated to be €1.55, 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.
Reported Earnings • Apr 01Full 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 5.5% growth forecast for the Commercial Services industry in Germany. 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 1% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Feb 09Dividend of kr0.75 announcedShareholders will receive a dividend of kr0.75. Ex-date: 16th May 2024 Payment date: 22nd May 2024 Dividend yield will be 59%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next 2 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 08Full 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: kr282.0m (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 6.2% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings.
お知らせ • Feb 07ITAB Shop Concept AB (publ) Proposes Dividend for the year 2023The Board of Directors of ITAB Shop Concept AB (publ) proposed a dividend of SEK 0.75 (SEK 0.50) per ordinary share for 2023.
Valuation Update With 7 Day Price Move • Dec 22Investor sentiment improves as stock rises 21%After last week's 21% share price gain to €1.01, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Commercial Services industry in Germany. Total loss to shareholders of 1.2% over the past three years.
お知らせ • Nov 04+ 3 more updatesITAB Shop Concept AB (publ) to Report Fiscal Year 2024 Results on Feb 07, 2025ITAB Shop Concept AB (publ) announced that they will report fiscal year 2024 results at 7:00 AM, Central European Standard Time on Feb 07, 2025
Reported Earnings • Nov 01Third quarter 2023 earnings released: EPS: kr0.34 (vs kr0.42 in 3Q 2022)Third quarter 2023 results: EPS: kr0.34 (down from kr0.42 in 3Q 2022). Revenue: kr1.53b (down 13% from 3Q 2022). Net income: kr75.0m (down 18% from 3Q 2022). Profit margin: 4.9% (down from 5.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings.
お知らせ • Oct 07+ 1 more updateITAB Shop Concept AB (publ), Annual General Meeting, May 15, 2024ITAB Shop Concept AB (publ), Annual General Meeting, May 15, 2024.
Recent Insider Transactions • Sep 14Insider recently sold €104k worth of stockOn the 8th of September, Jesper Blomquist sold around 145k shares on-market at roughly €0.72 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. This was the only on-market transaction from insiders over the last 12 months.
Reported Earnings • Jul 14Second quarter 2023 earnings released: EPS: kr0.23 (vs kr0.087 in 2Q 2022)Second quarter 2023 results: EPS: kr0.23 (up from kr0.087 in 2Q 2022). Revenue: kr1.50b (down 12% from 2Q 2022). Net income: kr51.0m (up 168% from 2Q 2022). Profit margin: 3.4% (up from 1.1% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Reported Earnings • Jul 14Second quarter 2023 earnings released: EPS: kr0.23 (vs kr0.087 in 2Q 2022)Second quarter 2023 results: EPS: kr0.23 (up from kr0.087 in 2Q 2022). Revenue: kr1.50b (down 12% from 2Q 2022). Net income: kr51.0m (up 168% from 2Q 2022). Profit margin: 3.4% (up from 1.1% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
Buying Opportunity • Jul 04Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 18%. The fair value is estimated to be €0.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Earnings per share has grown by 90%. Revenue is forecast to grow by 0.5% in 2 years. Earnings is forecast to grow by 48% in the next 2 years.
お知らせ • Jul 04Jan 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.
Board Change • May 17Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Roberto Monti was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • May 11First quarter 2023 earnings released: EPS: kr0.18 (vs kr0.25 in 1Q 2022)First quarter 2023 results: EPS: kr0.18 (down from kr0.25 in 1Q 2022). Revenue: kr1.51b (down 15% from 1Q 2022). Net income: kr40.0m (down 26% from 1Q 2022). Profit margin: 2.7% (down from 3.0% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
お知らせ • May 11+ 1 more updateITAB Shop Concept AB (publ) Announces Board AppointmentsITAB Shop Concept AB (publ) at its Annual General Meeting of Shareholders held on 10 May 2023, Karin Eriksson and Madeleine Persson were elected as new Board members.
Reported Earnings • Feb 09Full year 2022 earnings released: EPS: kr1.02 (vs kr0.50 in FY 2021)Full year 2022 results: EPS: kr1.02 (up from kr0.50 in FY 2021). Revenue: kr6.87b (up 10.0% from FY 2021). Net income: kr223.0m (up 134% from FY 2021). Profit margin: 3.2% (up from 1.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
お知らせ • Feb 08ITAB Shop Concept AB (publ) Proposes Dividend for 2022ITAB Shop Concept AB (publ) proposed a dividend of SEK 0.50 (-) per ordinary share for 2022.
お知らせ • Nov 10Itab Shop Concept AB (Publ) Appoints Nomination Committee for Annual General Meeting 2023The Nomination Committee ahead of the Annual General Meeting on 10 May 2023 in ITAB Shop Concept AB (publ) is composed of Åsa Otterlund (appointed by Aeternum Capital), Ulf Hedlundh (appointed by Pomona-gruppen) and Petter Fägersten (appointed by Övre Kullen), with Åsa Otterlund as Chairperson. The Annual General Meeting in ITAB on 10 May 2022 resolved that the Company's Nomination Committee ahead of the next following Annual General Meeting in 2023 is to comprise three members and that the Chairman of the Board is to be tasked with contacting the three largest shareholders and requesting that they appoint one member each. The selection of shareholders to contact is to be based on the share register maintained by Euroclear Sweden as of 31 August 2022. Unless otherwise agreed by the members, the Chairman of the Nomination Committee is to be the member appointed by the largest shareholder. The composition of the Nomination Committee is to be announced not later than six months prior to the Annual General Meeting 2023. In accordance with this, the shareholders Aeternum Capital AS, Pomona-gruppen AB and Övre Kullen AB have appointed one member each.
Reported Earnings • Oct 29Third quarter 2022 earnings released: EPS: kr0.42 (vs kr0.092 in 3Q 2021)Third quarter 2022 results: EPS: kr0.42 (up from kr0.092 in 3Q 2021). Revenue: kr1.75b (up 20% from 3Q 2021). Net income: kr91.0m (up 355% from 3Q 2021). Profit margin: 5.2% (up from 1.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Commercial Services industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 21% per year.
Reported Earnings • Jul 14Second 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 1.7%, compared to a 12% growth forecast for the industry in Germany. 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 30% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Feb 25Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €1.09, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total loss to shareholders of 4.4% over the past three years.
Reported Earnings • Feb 09Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull 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 23% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance.
お知らせ • Feb 08ITAB Shop Concept AB (publ) Announces Dividend PolicyITAB Shop Concept AB (publ) announced that as before, dividends over a longer period should follow the result and correspond to at least 30% of the company's profit after tax. However, dividends will be adjusted to the company's investment requirements and any share repurchase program.
Reported Earnings • Nov 03Third quarter 2021 earnings releasedThe 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). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance.
Reported Earnings • Jul 14Second quarter 2021 earnings releasedThe 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 22Insider recently sold €63k worth of stockOn the 20th of May, Mikael Gustavsson sold around 36k shares on-market at roughly €1.76 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €822k more than they sold in the last 12 months.
Reported Earnings • May 13First quarter 2021 earnings releasedThe 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).
Recent Insider Transactions • Apr 07Independent Chairman of the Board recently bought €818k worth of stockOn the 1st of April, Anders Moberg bought around 500k shares on-market at roughly €1.64 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.
お知らせ • Mar 09ITAB Shop Concept AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 767.875725 million.ITAB Shop Concept AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 767.875725 million. Security Name: Class B Shares Security Type: Common Stock Securities Offered: 102,383,430 Price\Range: SEK 7.5 Transaction Features: Rights Offering
Reported Earnings • Feb 10Full year 2020 earnings releasedThe 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).
Is New 90 Day High Low • Feb 04New 90-day high: €2.30The company is up 85% from its price of €1.24 on 06 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 44% over the same period.
お知らせ • Jan 29ITAB Shop Concept AB (publ) Updates Earnings Guidance for the Financial Year 2020ITAB Shop Concept AB (publ) updated earnings guidance for the financial year 2020. For the period, the company expects to report an adjusted EBITDA result, before non- recurring costs for the financial year ending 31 December 2020, which will be significantly higher than communicated in ITAB's preliminary guidance on 10 July 2020. Adjusted EBITDA for the financial year 2020 before restructuring costs and certain items relating to non- recurring inventory write-downs is expected to amount to approximately SEK 575 million, compared to the range of SEK 380 - 420 million that was communicated on July 10, 2020.
お知らせ • Jan 16ITAB Shop Concept AB (Publ) Elects Vegard Søraunet as A New Board MemberITAB Shop Concept AB (publ), at its EGM held on January 15, 2021, announced that Vegard Søraunet is elected as a new board member and that Vegard Søraunet shall receive remuneration in accordance with the remuneration level that the annual general meeting 2020 resolved on proportionate to the mandate period.
Is New 90 Day High Low • Dec 31New 90-day high: €1.69The company is up 33% from its price of €1.27 on 02 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 32% over the same period.
Recent Insider Transactions • Dec 26Chief Financial Officer recently bought €20k worth of stockOn the 22nd of December, Ulrika Sköld bought around 13k shares on-market at roughly €1.53 per share. In the last 3 months, there was an even bigger purchase from another insider worth €47k. This was Ulrika's only on-market trade for the last 12 months.
Recent Insider Transactions • Dec 21COO & Senior VP of SBU Lighting recently bought €47k worth of stockOn the 15th of December, Jesper Blomquist bought around 34k shares on-market at roughly €1.38 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.
Recent Insider Transactions • Dec 20COO & Senior VP of SBU Lighting recently bought €47k worth of stockOn the 15th of December, Jesper Blomquist bought around 34k shares on-market at roughly €1.38 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.
Is New 90 Day High Low • Dec 09New 90-day high: €1.43The company is up 14% from its price of €1.25 on 10 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Commercial Services industry, which is up 20% over the same period.
Reported Earnings • Oct 29Third quarter earnings releasedOver the last 12 months the company has reported total losses of kr3.00m, with earnings decreasing by kr141.8m from the prior year. Total revenue was kr5.33b over the last 12 months, down 12% from the prior year.
Is New 90 Day High Low • Oct 08New 90-day high: €1.42The company is up 33% from its price of €1.07 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 3.0% over the same period.