Board Change • May 21
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. 3 non-independent directors. Independent Director Patrik Fagerholm was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Aug 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 57% per year over the past 5 years. Minor Risks Revenue is less than US$5m (kr34m revenue, or US$3.3m). Market cap is less than US$100m (€30.7m market cap, or US$34.2m). Reported Earnings • Aug 25
Second quarter 2024 earnings released: kr0.005 loss per share (vs kr0.15 profit in 2Q 2023) Second quarter 2024 results: kr0.005 loss per share (down from kr0.15 profit in 2Q 2023). Net loss: kr2.48m (down 103% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Reported Earnings • Jun 04
First quarter 2024 earnings released: kr0.08 loss per share (vs kr0.029 loss in 1Q 2023) First quarter 2024 results: kr0.08 loss per share (further deteriorated from kr0.029 loss in 1Q 2023). Net loss: kr38.1m (loss widened 171% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. お知らせ • May 08
Crown Energy AB (publ) to Report Q1, 2024 Results on May 29, 2024 Crown Energy AB (publ) announced that they will report Q1, 2024 results on May 29, 2024 Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: kr0.024 (vs kr0.034 loss in FY 2022) Full year 2023 results: EPS: kr0.024 (up from kr0.034 loss in FY 2022). Revenue: kr42.5m (up 7.9% from FY 2022). Net income: kr11.7m (up kr27.9m from FY 2022). Profit margin: 28% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 4% per year. お知らせ • Feb 29
Crown Energy AB (publ) to Report Fiscal Year 2023 Results on Feb 29, 2024 Crown Energy AB (publ) announced that they will report fiscal year 2023 results on Feb 29, 2024 Reported Earnings • Nov 19
Third quarter 2023 earnings released: EPS: kr0.003 (vs kr0.14 in 3Q 2022) Third quarter 2023 results: EPS: kr0.003 (down from kr0.14 in 3Q 2022). Net income: kr1.50m (down 98% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: kr0.15 (vs kr0.16 in 2Q 2022) Second quarter 2023 results: EPS: kr0.15 (down from kr0.16 in 2Q 2022). Net income: kr69.8m (down 8.5% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings have declined by 34% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 34% per year over the past 5 years. Minor Risks Revenue is less than US$5m (kr43m revenue, or US$3.9m). Market cap is less than US$100m (€46.1m market cap, or US$50.2m). お知らせ • Jun 03
Crown Energy AB (publ) to Report Nine Months, 2023 Results on Nov 17, 2023 Crown Energy AB (publ) announced that they will report nine months, 2023 results on Nov 17, 2023 Reported Earnings • Jun 01
First quarter 2023 earnings released: kr0.03 loss per share (vs kr0.091 loss in 1Q 2022) First quarter 2023 results: kr0.03 loss per share (improved from kr0.091 loss in 1Q 2022). Revenue: kr10.7m (up 47% from 1Q 2022). Net loss: kr14.1m (loss narrowed 68% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 04
Full year 2022 earnings released: kr0.017 loss per share (vs kr0.13 loss in FY 2021) Full year 2022 results: kr0.017 loss per share (improved from kr0.13 loss in FY 2021). Net loss: kr7.99m (loss narrowed 87% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: kr0.14 (vs kr0.081 loss in 3Q 2021) Third quarter 2022 results: EPS: kr0.14 (up from kr0.081 loss in 3Q 2021). Net income: kr66.4m (up kr105.3m from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 115 percentage points per year, which is a significant difference in performance. お知らせ • Nov 18
Crown Energy Updates on Gazania-1 Well, Offshore South Africa Crown Energy AB, informed that the Gazania-1 well on Block 2B, offshore South Africa, which spudded on October 10, 2022, reached target depth of 2360m and encountered non-commercial hydrocarbons. The well will now be plugged and abandoned as originally planned. The logging is on-going now and the JV partners will undertake a detailed analysis of the results. Additionally, the JV Partners submitted a Production Right application to the Petroleum Agency of South Africa ("PASA") on November 15, 2022, for Block 2B, based on the existing oil discovery of AJ-1 and on potential future operations. Further analysis and integration of the well data will allow the JV to determine the next steps on the Block. The Joint Venture very much appreciates the local stakeholder and governmental support on this well which was safely drilled and with no environmental concerns. Early challenges with weather and service logistics on this well delayed the start of drilling. However, the JV is happy with the overall technical execution of the drilling operation. Gases normally associated with light oil were encountered during the drilling of the well. This would confirm the active hydrocarbon system, proven by the A-J1 discovery well in 1988, extends to the part of the basin where the Gazania-1 well is located. Further seismic interpretation will likely lead to the definition of viable areas for trapping downdip of Gazania-1 closer to the 1988 oil discovery A-J1. The well results are obviously disappointing on this location. However, the Operator and JV remain optimistic with this basin. However, additional analysis of the information gathered from the Gazania-1 well will allow the partners to assess and determine their next steps on Block 2B. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. CEO & Director Yoav Ben-Eli was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 21
Second quarter 2022 earnings released: kr0.037 loss per share (vs kr0.018 loss in 2Q 2021) Second quarter 2022 results: kr0.037 loss per share (down from kr0.018 loss in 2Q 2021). Net loss: kr17.5m (loss widened 102% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 114 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 02
First quarter 2022 earnings released: kr0.091 loss per share (vs kr0.035 loss in 1Q 2021) First quarter 2022 results: kr0.091 loss per share (down from kr0.035 loss in 1Q 2021). Net loss: kr43.6m (loss widened 160% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. お知らせ • May 17
Crown Energy AB (publ), Annual General Meeting, Jun 15, 2022 Crown Energy AB (publ), Annual General Meeting, Jun 15, 2022, at 08:00 Coordinated Universal Time. Location: Skeppargatan 27 Stockholm Sweden Agenda: To present the annual report and the audit report and the consolidated financial statements and the audit report of the group; to adopt the income statement and the balance sheet and the consolidated income statement and the consolidated balance sheet; to allocate the company's profit or loss according to the adopted balance sheet; to discharge from liability for the Board members and managing director; to determine number of ordinary directors and deputy directors of the Board and auditor; and to consider other matters. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. CEO & Director Yoav Ben-Eli was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: kr0.13 loss per share (down from kr0.094 profit in FY 2020). Net loss: kr63.6m (down 241% from profit in FY 2020). Revenue exceeded analyst estimates by 17%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. お知らせ • Feb 25
Crown Energy AB (publ) to Report Fiscal Year 2021 Results on Feb 28, 2022 Crown Energy AB (publ) announced that they will report fiscal year 2021 results on Feb 28, 2022 Reported Earnings • Nov 20
Third quarter 2021 earnings released: kr0.081 loss per share (vs kr0.01 loss in 3Q 2020) Third quarter 2021 results: Net loss: kr38.8m (loss widened kr34.1m from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 21
Second quarter 2021 earnings released: kr0.018 loss per share (vs kr0.029 profit in 2Q 2020) Second quarter 2021 results: Net loss: kr8.67m (down 163% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Reported Earnings • May 23
First quarter 2021 earnings released: kr0.035 loss per share (vs kr0.024 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: kr4.88m (down 46% from 1Q 2020). Net loss: kr16.7m (down 248% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 17% per year. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS kr0.094 (vs kr0.28 in FY 2019) Full year 2020 results: Net income: kr45.0m (down 66% from FY 2019). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. お知らせ • Jan 28
Crown Energy AB (publ), Annual General Meeting, May 26, 2021 Crown Energy AB (publ), Annual General Meeting, May 26, 2021. Reported Earnings • Nov 21
Third quarter 2020 earnings released: kr0.01 loss per share Third quarter 2020 results: Net loss: kr4.73m (down 117% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. お知らせ • Jun 16
Crown Energy AB (publ) (NGM:CRWN) agreed to acquire 10 Apartments in Luanda from EDI Angola Limitada for SEK 42.5 million. Crown Energy AB (publ) (NGM:CRWN) agreed to acquire 10 Apartments in Luanda from EDI Angola Limitada for SEK 42.5 million on June 15, 2020.