Norcod (NO9) 주식 개요Norcod AS는 노르웨이 및 전 세계에서 양식 대구 제품의 양식, 생산, 운영, 유통, 마케팅 및 판매에 종사합니다. 자세히 보기NO9 펀더멘털 분석스노우플레이크 점수가치 평가0/6미래 성장0/6과거 실적0/6재무 건전성4/6배당0/6위험 분석지난 1년 동안 주주가 크게 희석되었습니다.지난 5년간 매년 수익이 21.5% 감소했습니다.지난 3개월 동안 주가 변동성이 German 시장과 비교해 높았습니다.의미 있는 시가총액이 없습니다(€79M)모든 위험 점검 보기NO9 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW480,107 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA480,107 investors already sharing narrativesYour Fair Value€Current Price€1.03210.6% 고평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-294m1b2016201920222025202620282031Revenue NOK 1.3bEarnings NOK 90.6mAdvancedSet Fair ValueView all narrativesNorcod AS 경쟁사Schwälbchen Molkerei Jakob BerzSymbol: DB:SMBMarket cap: €58.1mSüdwestdeutsche SalzwerkeSymbol: DB:SSHMarket cap: €641.0mFRoSTASymbol: DB:NLMMarket cap: €718.2mSüdzuckerSymbol: XTRA:SZUMarket cap: €2.3b가격 이력 및 성과Norcod 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가NOK 1.0352주 최고가NOK 1.5752주 최저가NOK 0.82베타0.671개월 변동11.90%3개월 변동-3.76%1년 변동-13.87%3년 변동-65.95%5년 변동n/aIPO 이후 변동-81.95%최근 뉴스 및 업데이트공고 • Jun 27Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 3.8817 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 3.8817 million. Security Name: Shares Security Type: Common Stock Securities Offered: 388,170 Price\Range: NOK 10 Transaction Features: Rights OfferingReported Earnings • Jun 19First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: kr30.8m (down 84% from 1Q 2025). Net loss: kr18.5m (loss narrowed 63% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings.New Risk • Jun 07New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (€72.6m market cap, or US$83.7m).New Risk • May 27New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€79.6m market cap, or US$92.6m).공고 • May 13+ 1 more updateNorcod AS has completed a Follow-on Equity Offering in the amount of NOK 85.08577 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 85.08577 million. Security Name: Shares Security Type: Common Stock Securities Offered: 8,508,577 Price\Range: NOK 10 Transaction Features: Subsequent Direct ListingReported Earnings • Feb 28Full year 2025 earnings releasedFull year 2025 results: Revenue: kr444.4m (up 12% from FY 2024). Net loss: kr227.5m (loss narrowed 3.2% from FY 2024).더 많은 업데이트 보기Recent updates공고 • Jun 27Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 3.8817 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 3.8817 million. Security Name: Shares Security Type: Common Stock Securities Offered: 388,170 Price\Range: NOK 10 Transaction Features: Rights OfferingReported Earnings • Jun 19First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: kr30.8m (down 84% from 1Q 2025). Net loss: kr18.5m (loss narrowed 63% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings.New Risk • Jun 07New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (€72.6m market cap, or US$83.7m).New Risk • May 27New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€79.6m market cap, or US$92.6m).공고 • May 13+ 1 more updateNorcod AS has completed a Follow-on Equity Offering in the amount of NOK 85.08577 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 85.08577 million. Security Name: Shares Security Type: Common Stock Securities Offered: 8,508,577 Price\Range: NOK 10 Transaction Features: Subsequent Direct ListingReported Earnings • Feb 28Full year 2025 earnings releasedFull year 2025 results: Revenue: kr444.4m (up 12% from FY 2024). Net loss: kr227.5m (loss narrowed 3.2% from FY 2024).공고 • Dec 22Norcod AS, Annual General Meeting, Jun 10, 2026Norcod AS, Annual General Meeting, Jun 10, 2026.공고 • Dec 20+ 4 more updatesNorcod AS to Report Q3, 2026 Results on Nov 05, 2026Norcod AS announced that they will report Q3, 2026 results on Nov 05, 2026Reported Earnings • Nov 16Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: kr36.8m (down 47% from 3Q 2024). Net loss: kr71.5m (loss narrowed 13% from 3Q 2024).New Risk • Oct 09New 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 9.0% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr148m free cash flow). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (€79.2m market cap, or US$91.5m).Reported Earnings • Aug 28Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: kr91.3m (up 6.2% from 2Q 2024). Net loss: kr52.0m (loss narrowed 9.1% from 2Q 2024).Reported Earnings • Jun 03Full year 2024 earnings released: kr5.85 loss per share (vs kr10.54 loss in FY 2023)Full year 2024 results: kr5.85 loss per share (improved from kr10.54 loss in FY 2023). Revenue: kr397.2m (up 47% from FY 2023). Net loss: kr235.0m (loss narrowed 4.5% from FY 2023).New Risk • Apr 14New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 17% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding).공고 • Apr 05Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 19.999992 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 19.999992 million. Security Name: Shares Security Type: Common Stock Securities Offered: 1,666,666 Price\Range: NOK 12 Transaction Features: Regulation S; Rights Offering; Rule 144A공고 • Mar 22Norcod AS has filed a Follow-on Equity Offering in the amount of NOK 19.999992 million.Norcod AS has filed a Follow-on Equity Offering in the amount of NOK 19.999992 million. Security Name: Shares Security Type: Common Stock Securities Offered: 1,666,666 Price\Range: NOK 12 Transaction Features: Rights OfferingNew Risk • Mar 02New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr201m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€44.8m market cap, or US$46.4m).Reported Earnings • Feb 15Full year 2024 earnings releasedFull year 2024 results: Revenue: kr397.2m (up 47% from FY 2023). Net loss: kr233.8m (loss narrowed 5.0% from FY 2023).공고 • Jan 22Norcod AS, Annual General Meeting, Jun 18, 2025Norcod AS, Annual General Meeting, Jun 18, 2025.공고 • Jan 21+ 3 more updatesNorcod AS to Report Fiscal Year 2024 Results on May 28, 2025Norcod AS announced that they will report fiscal year 2024 results on May 28, 2025New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 49% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr163m free cash flow). Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (€56.3m market cap, or US$58.0m).Reported Earnings • Nov 17Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: kr68.9m (up 222% from 3Q 2023). Net loss: kr82.1m (loss widened 101% from 3Q 2023).공고 • Sep 11Norcod AS Announces Appoints Stian Vollan-Hansen as new Chief Financial Officer, Effective December 1, 2024Norcod AS appointed Stian Vollan-Hansen as its new Chief Financial Officer (CFO) from 1 December 2024. Vollan-Hansen (34) is based in Trondheim and brings with him valuable experience from financial management and business development through nine years in various positions at Entro, a leading energy consultancy agency, most recently as CFO. Vollan-Hansen holds a master’s degree in economics from NTNU Business School and has gained broad experience in financial planning, reporting, M&A activities, strategy, and business development. Trym Are Sivertsen will serve as Norcod’s interim CFO until Vollan-Hansen assumes the role of CFO from 1 December 2024.공고 • Aug 22Norcod AS Reports Consolidated Impairment of Intangible Assets for the Second Quarter Ended June 30, 2024Norcod AS reported consolidated impairment of intangible assets for the second quarter ended June 30, 2024. For the quarter, the company reported impairment of intangible assets of NOK 502,000.Reported Earnings • Aug 21Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: kr86.0m (up 118% from 2Q 2023). Net loss: kr57.2m (loss widened 9.6% from 2Q 2023).Reported Earnings • Jun 07First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: kr118.5m (down 5.3% from 1Q 2023). Net loss: kr55.0m (loss widened 29% from 1Q 2023).공고 • Apr 06Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 2.505876 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 2.505876 million. Security Name: Shares Security Type: Common Stock Securities Offered: 208,823 Price\Range: NOK 12 Transaction Features: Rights Offering공고 • Apr 03Norcod AS Announces Resignation of Arne Kristian Hoset as CFONorcod AS announced that Arne Kristian Hoset has decided to resign as CFO to take on a new position in another company and industry. He will remain in his current role until the end of June, ensuring a smooth and efficient transition for Norcod. The Company has initiated a process to recruit Hoset's replacement.Board Change • Apr 02No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Chairman Renate Larsen was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.주주 수익률NO9DE FoodDE 시장7D10.5%-1.1%-1.0%1Y-13.9%6.9%-2.2%전체 주주 수익률 보기수익률 대 산업: NO9은 지난 1년 동안 6.9%의 수익을 기록한 German Food 산업보다 저조한 성과를 냈습니다.수익률 대 시장: NO9은 지난 1년 동안 -2.2%를 기록한 German 시장보다 저조한 성과를 냈습니다.주가 변동성Is NO9's price volatile compared to industry and market?NO9 volatilityNO9 Average Weekly Movement8.7%Food Industry Average Movement3.8%Market Average Movement5.4%10% most volatile stocks in DE Market12.8%10% least volatile stocks in DE Market2.7%안정적인 주가: NO9의 주가는 지난 3개월 동안 German 시장보다 변동성이 컸습니다.시간에 따른 변동성: NO9의 주간 변동성(9%)은 지난 1년 동안 안정적이었지만 German 종목 중 상위 75%보다 높습니다.회사 소개설립직원 수CEO웹사이트2018112Christian Riberwww.norcod.comNorcod AS는 노르웨이 및 국제적으로 양식 대구 제품의 양식, 생산, 운영, 유통, 마케팅 및 판매에 종사하고 있습니다. 이 회사는 2018년에 설립되었으며 노르웨이 트론헤임에 본사를 두고 있습니다.더 보기Norcod AS 기초 지표 요약Norcod의 순이익과 매출은 시가총액과 어떻게 비교됩니까?NO9 기초 통계시가총액€79.25m순이익 (TTM)-€18.65m매출 (TTM)€25.74m3.1x주가매출비율(P/S)-4.2x주가수익비율(P/E)NO9는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표NO9 손익계산서 (TTM)매출NOK 281.69m매출원가NOK 165.43m총이익NOK 116.26m기타 비용NOK 320.34m순이익-NOK 204.07m최근 보고된 실적Mar 31, 2026다음 실적 발표일Aug 27, 2026주당순이익(EPS)-2.59총이익률41.27%순이익률-72.44%부채/자본 비율112.9%NO9의 장기 실적은 어땠습니까?과거 실적 및 비교 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/23 04:48종가2026/07/23 00:00수익2026/03/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Norcod AS는 0명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
공고 • Jun 27Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 3.8817 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 3.8817 million. Security Name: Shares Security Type: Common Stock Securities Offered: 388,170 Price\Range: NOK 10 Transaction Features: Rights Offering
Reported Earnings • Jun 19First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: kr30.8m (down 84% from 1Q 2025). Net loss: kr18.5m (loss narrowed 63% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings.
New Risk • Jun 07New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (€72.6m market cap, or US$83.7m).
New Risk • May 27New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€79.6m market cap, or US$92.6m).
공고 • May 13+ 1 more updateNorcod AS has completed a Follow-on Equity Offering in the amount of NOK 85.08577 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 85.08577 million. Security Name: Shares Security Type: Common Stock Securities Offered: 8,508,577 Price\Range: NOK 10 Transaction Features: Subsequent Direct Listing
Reported Earnings • Feb 28Full year 2025 earnings releasedFull year 2025 results: Revenue: kr444.4m (up 12% from FY 2024). Net loss: kr227.5m (loss narrowed 3.2% from FY 2024).
공고 • Jun 27Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 3.8817 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 3.8817 million. Security Name: Shares Security Type: Common Stock Securities Offered: 388,170 Price\Range: NOK 10 Transaction Features: Rights Offering
Reported Earnings • Jun 19First quarter 2026 earnings releasedFirst quarter 2026 results: Revenue: kr30.8m (down 84% from 1Q 2025). Net loss: kr18.5m (loss narrowed 63% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings.
New Risk • Jun 07New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$100m (€72.6m market cap, or US$83.7m).
New Risk • May 27New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€79.6m market cap, or US$92.6m).
공고 • May 13+ 1 more updateNorcod AS has completed a Follow-on Equity Offering in the amount of NOK 85.08577 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 85.08577 million. Security Name: Shares Security Type: Common Stock Securities Offered: 8,508,577 Price\Range: NOK 10 Transaction Features: Subsequent Direct Listing
Reported Earnings • Feb 28Full year 2025 earnings releasedFull year 2025 results: Revenue: kr444.4m (up 12% from FY 2024). Net loss: kr227.5m (loss narrowed 3.2% from FY 2024).
공고 • Dec 22Norcod AS, Annual General Meeting, Jun 10, 2026Norcod AS, Annual General Meeting, Jun 10, 2026.
공고 • Dec 20+ 4 more updatesNorcod AS to Report Q3, 2026 Results on Nov 05, 2026Norcod AS announced that they will report Q3, 2026 results on Nov 05, 2026
Reported Earnings • Nov 16Third quarter 2025 earnings releasedThird quarter 2025 results: Revenue: kr36.8m (down 47% from 3Q 2024). Net loss: kr71.5m (loss narrowed 13% from 3Q 2024).
New Risk • Oct 09New 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 9.0% 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr148m free cash flow). Earnings have declined by 36% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (€79.2m market cap, or US$91.5m).
Reported Earnings • Aug 28Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: kr91.3m (up 6.2% from 2Q 2024). Net loss: kr52.0m (loss narrowed 9.1% from 2Q 2024).
Reported Earnings • Jun 03Full year 2024 earnings released: kr5.85 loss per share (vs kr10.54 loss in FY 2023)Full year 2024 results: kr5.85 loss per share (improved from kr10.54 loss in FY 2023). Revenue: kr397.2m (up 47% from FY 2023). Net loss: kr235.0m (loss narrowed 4.5% from FY 2023).
New Risk • Apr 14New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 17% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (31% increase in shares outstanding).
공고 • Apr 05Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 19.999992 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 19.999992 million. Security Name: Shares Security Type: Common Stock Securities Offered: 1,666,666 Price\Range: NOK 12 Transaction Features: Regulation S; Rights Offering; Rule 144A
공고 • Mar 22Norcod AS has filed a Follow-on Equity Offering in the amount of NOK 19.999992 million.Norcod AS has filed a Follow-on Equity Offering in the amount of NOK 19.999992 million. Security Name: Shares Security Type: Common Stock Securities Offered: 1,666,666 Price\Range: NOK 12 Transaction Features: Rights Offering
New Risk • Mar 02New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr201m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€44.8m market cap, or US$46.4m).
Reported Earnings • Feb 15Full year 2024 earnings releasedFull year 2024 results: Revenue: kr397.2m (up 47% from FY 2023). Net loss: kr233.8m (loss narrowed 5.0% from FY 2023).
공고 • Jan 22Norcod AS, Annual General Meeting, Jun 18, 2025Norcod AS, Annual General Meeting, Jun 18, 2025.
공고 • Jan 21+ 3 more updatesNorcod AS to Report Fiscal Year 2024 Results on May 28, 2025Norcod AS announced that they will report fiscal year 2024 results on May 28, 2025
New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 49% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr163m free cash flow). Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (49% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (€56.3m market cap, or US$58.0m).
Reported Earnings • Nov 17Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: kr68.9m (up 222% from 3Q 2023). Net loss: kr82.1m (loss widened 101% from 3Q 2023).
공고 • Sep 11Norcod AS Announces Appoints Stian Vollan-Hansen as new Chief Financial Officer, Effective December 1, 2024Norcod AS appointed Stian Vollan-Hansen as its new Chief Financial Officer (CFO) from 1 December 2024. Vollan-Hansen (34) is based in Trondheim and brings with him valuable experience from financial management and business development through nine years in various positions at Entro, a leading energy consultancy agency, most recently as CFO. Vollan-Hansen holds a master’s degree in economics from NTNU Business School and has gained broad experience in financial planning, reporting, M&A activities, strategy, and business development. Trym Are Sivertsen will serve as Norcod’s interim CFO until Vollan-Hansen assumes the role of CFO from 1 December 2024.
공고 • Aug 22Norcod AS Reports Consolidated Impairment of Intangible Assets for the Second Quarter Ended June 30, 2024Norcod AS reported consolidated impairment of intangible assets for the second quarter ended June 30, 2024. For the quarter, the company reported impairment of intangible assets of NOK 502,000.
Reported Earnings • Aug 21Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: kr86.0m (up 118% from 2Q 2023). Net loss: kr57.2m (loss widened 9.6% from 2Q 2023).
Reported Earnings • Jun 07First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: kr118.5m (down 5.3% from 1Q 2023). Net loss: kr55.0m (loss widened 29% from 1Q 2023).
공고 • Apr 06Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 2.505876 million.Norcod AS has completed a Follow-on Equity Offering in the amount of NOK 2.505876 million. Security Name: Shares Security Type: Common Stock Securities Offered: 208,823 Price\Range: NOK 12 Transaction Features: Rights Offering
공고 • Apr 03Norcod AS Announces Resignation of Arne Kristian Hoset as CFONorcod AS announced that Arne Kristian Hoset has decided to resign as CFO to take on a new position in another company and industry. He will remain in his current role until the end of June, ensuring a smooth and efficient transition for Norcod. The Company has initiated a process to recruit Hoset's replacement.
Board Change • Apr 02No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Chairman Renate Larsen was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
