Board Change • May 20
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. 6 non-independent directors. Independent Director Linda Myklebust was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 30
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. 6 non-independent directors. Independent Director Linda Myklebust was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Nov 25
HAV Group ASA, Annual General Meeting, May 27, 2026 HAV Group ASA, Annual General Meeting, May 27, 2026. 공시 • Dec 17
HAV Group ASA, Annual General Meeting, May 27, 2025 HAV Group ASA, Annual General Meeting, May 27, 2025. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€24.8m market cap, or US$27.4m). Reported Earnings • Aug 30
Second quarter 2024 earnings released: kr0.20 loss per share (vs kr1.68 profit in 2Q 2023) Second quarter 2024 results: kr0.20 loss per share (down from kr1.68 profit in 2Q 2023). Revenue: kr193.2m (down 3.5% from 2Q 2023). Net loss: kr6.97m (down 112% from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. New Risk • Jun 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% 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 Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€30.0m market cap, or US$32.7m). Reported Earnings • Jun 04
First quarter 2024 earnings released: kr0.61 loss per share (vs kr0.38 loss in 1Q 2023) First quarter 2024 results: kr0.61 loss per share (further deteriorated from kr0.38 loss in 1Q 2023). Revenue: kr127.1m (up 15% from 1Q 2023). Net loss: kr21.3m (loss widened 61% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 18
Full year 2023 earnings released: EPS: kr0.03 (vs kr0.014 loss in FY 2022) Full year 2023 results: EPS: kr0.03 (up from kr0.014 loss in FY 2022). Revenue: kr617.1m (flat on FY 2022). Net income: kr1.17m (up kr1.65m from FY 2022). Profit margin: 0.2% (up from net loss in FY 2022). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Machinery industry in Germany. New Risk • Jan 16
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 German stocks, typically moving 7.2% 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 Share price has been volatile over the past 3 months (7.2% average weekly change). Profit margins are more than 30% lower than last year (0.6% net profit margin). Profit margins are more than 30% lower than last year (0.6% net profit margin). Market cap is less than US$100m (€30.1m market cap, or US$33.0m). Market cap is less than US$100m (€30.1m market cap, or US$33.0m). Reported Earnings • Nov 25
Third quarter 2023 earnings released: kr0.53 loss per share (vs kr0.03 profit in 3Q 2022) Third quarter 2023 results: kr0.53 loss per share (down from kr0.03 profit in 3Q 2022). Revenue: kr193.0m (up 41% from 3Q 2022). Net loss: kr18.6m (down kr19.5m from profit in 3Q 2022). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in Germany. 공시 • Jun 13
Hav Group Asa Announces Management Changes HAV Group ASA announced that Egil Bremnes and Katrine Lynge have been elected as a new employee representatives at the Board of HAV Group ASA. Kjetil Ripe and Hanne Reite Keyn have been elected as deputies. 공시 • May 25
HAV Group Announces New Board Member HAV Group ASA at general meeting held on 24 May 2023, where Monica Sperre was elected as a new independent board member for Tore Hopen. 공시 • May 10
HAV Group ASA (OB:HAV) agreed to acquire Undheim Systems As from Stein Magnus Undheim. HAV Group ASA (OB:HAV) agreed to acquire Undheim Systems As from Stein Magnus Undheim on May 9, 2023. The consideration for the purchase includes both shares in HAV Group ASA and a cash amount. In 2022, Undheim Systems generated revenues of NOK 4 million and an EBIT of NOK 0.7 million. The transaction is subject to customary closing conditions, satisfactory due diligence, and final transaction documentation. Closing of the transaction is expected in June 2023. Reported Earnings • Apr 30
Full year 2022 earnings released Full year 2022 results: Revenue: kr621.8m (down 32% from FY 2021). Net loss: kr476.0k (down 101% from profit in FY 2021). Board Change • Mar 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Employee Representative Director Anita Fjortoft was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: kr0.16 (vs kr2.02 in FY 2021) Full year 2022 results: EPS: kr0.16 (down from kr2.02 in FY 2021). Revenue: kr619.7m (down 32% from FY 2021). Net income: kr5.67m (down 92% from FY 2021). Profit margin: 0.9% (down from 7.7% in FY 2021). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.15, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Machinery industry in Germany. Total loss to shareholders of 26% over the past year. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to €1.02, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Machinery industry in Germany. Total loss to shareholders of 27% over the past year. Reported Earnings • Dec 02
Third quarter 2022 earnings released: EPS: kr0.03 (vs kr0.30 in 3Q 2021) Third quarter 2022 results: EPS: kr0.03 (down from kr0.30 in 3Q 2021). Revenue: kr136.6m (up 70% from 3Q 2021). Net income: kr903.0k (down 92% from 3Q 2021). Profit margin: 0.7% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Employee Representative Director Anita Fjortoft was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 01
Second quarter 2022 earnings released: EPS: kr0.48 (vs kr1.10 in 2Q 2021) Second quarter 2022 results: EPS: kr0.48 (down from kr1.10 in 2Q 2021). Revenue: kr159.9m (down 47% from 2Q 2021). Net income: kr16.8m (down 56% from 2Q 2021). Profit margin: 11% (down from 13% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 5.6% compared to a 8.8% growth forecast for the Machinery industry in Germany. Recent Insider Transactions • Jun 30
Director recently bought €709k worth of stock On the 28th of June, Hege Rabben bought around 522k shares on-market at roughly €1.36 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. 공시 • Jun 30
HAV Group ASA (OB : HAV) agreed to acquire Høglund Marine Solutions AS. HAV Group ASA (OB : HAV) agreed to acquire Høglund Marine Solutions AS on June 29, 2022. Høglund Marine Solutions has revenues in excess of NOK 380 million in 2021. The transaction is subject to customary due diligence. Reported Earnings • Jun 04
First quarter 2022 earnings released: EPS: kr0.13 (vs kr0.50 in 1Q 2021) First quarter 2022 results: EPS: kr0.13 (down from kr0.50 in 1Q 2021). Revenue: kr198.8m (down 35% from 1Q 2021). Net income: kr4.58m (down 74% from 1Q 2021). Profit margin: 2.3% (down from 5.7% in 1Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is expected to shrink by 27% compared to a 10% growth forecast for the industry in Germany. 공시 • May 24
HAV Group ASA (OB:HAV) agreed to acquire remaining 22.72% stake in Norwegian Greentech As from Visimo As. HAV Group ASA (OB:HAV) agreed to acquire remaining 22.72% stake in Norwegian Greentech As from Visimo As on May 23, 2022. The share purchase will be settled partly through 805,673 treasury-held shares in HAV Group ASA, valued at NOK 18 per share, and partly through a single digit NOK million cash consideration. In 2021, the operating income of Norwegian Greentech was approximately NOK 170 million. The deal is expected to close on May 31, 2022. 공시 • May 08
HAV Group ASA Receives Preliminary Approval for Hydrogen-Based Energy System for Ships HAV Group ASA has been granted preliminary approval for the hydrogen-based energy system developed in the FreeCO2ast project. The approval is a major step towards the commercial use of hydrogen fuel by a commercial vessel. The Norwegian Maritime Authority has issued a statement of preliminary assessment which confirms that the alternative design is considered feasible and sound in accordance with IMO guidelines on alternative design (MSC.1/Circ.1455) and that the project is ready to advance into the final design phase. This means that HAV Hydrogen’s technology is ready to enter the commercial stage where the company can start offering its products to the global maritime market. HAV Hydrogen’s energy system is a spin-off from the groundbreaking FreeCo2ast project, which is currently developing a high-capacity hydrogen energy system that can be retrofitted onboard one of Havila Kystruten's coastal cruise ships. The FreeCo2ast project is supported by the Norwegian Research Council, Innovation Norway and Enova. Major project partners are amongst others Havila Kystruten and HAV Group's subsidiaries HAV Design, Norwegian Electric Systems and HAV Hydrogen, in addition to the research institutions Sintef Ocean and Prototech. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Employee Representative Director Anita Fjortoft was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 13
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr2.52 (up from kr0.73 in FY 2020). Revenue: kr916.7m (up 42% from FY 2020). Net income: kr88.0m (up 243% from FY 2020). Profit margin: 9.6% (up from 4.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Over the next year, revenue is expected to shrink by 19% compared to a 11% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improved over the past week After last week's 17% share price gain to €1.77, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Machinery industry in Germany. Reported Earnings • Dec 01
Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint Third quarter 2021 results: EPS: kr0.24 (down from kr0.69 in 3Q 2020). Revenue: kr80.6m (down 36% from 3Q 2020). Net income: kr8.30m (down 65% from 3Q 2020). Profit margin: 10% (down from 19% in 3Q 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 45%. Over the next year, revenue is expected to shrink by 6.5% compared to a 8.2% growth forecast for the industry in Germany.