Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Chair Steinar Sonsteby was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • May 02
Elmera Group ASA Approves Dividend for the Year 2025 Elmera Group ASA announced at annual general meeting held on April 30, 2026, approved dividend of NOK 2.00 per share for 2025. 공시 • Dec 22
Elmera Group ASA, Annual General Meeting, Apr 30, 2026 Elmera Group ASA, Annual General Meeting, Apr 30, 2026. 공시 • Mar 12
Elmera Group ASA announces Annual dividend Elmera Group ASA announced Annual dividend of NOK 3.0000 per share, ex-date on May 02, 2025 and record date on May 05, 2025. 공시 • Feb 14
Elmera Group ASA Proposes Dividend The Board of Directors of Elmera Group ASA has in the Board Meeting on 12 February 2025 proposed a dividend to the shareholders of NOK 3.00 per share. The proposed dividend is subject to approval by the general meeting. Reported Earnings • Nov 08
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr1.40b (down 37% from 3Q 2023). Net income: kr5.52m (up kr7.16m from 3Q 2023). Profit margin: 0.4% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Revenue is expected to decline by 5.8% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: kr0.34 (vs kr0.087 in 2Q 2023) Second quarter 2024 results: EPS: kr0.34 (up from kr0.087 in 2Q 2023). Revenue: kr2.11b (down 40% from 2Q 2023). Net income: kr37.1m (up 292% from 2Q 2023). Profit margin: 1.8% (up from 0.3% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 1.2%. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • May 08
First quarter 2024 earnings released: EPS: kr0.97 (vs kr0.89 in 1Q 2023) First quarter 2024 results: EPS: kr0.97 (up from kr0.89 in 1Q 2023). Revenue: kr5.37b (down 33% from 1Q 2023). Net income: kr105.4m (up 9.3% from 1Q 2023). Profit margin: 2.0% (up from 1.2% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 8.0% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 15
Dividend of kr2.30 announced Shareholders will receive a dividend of kr2.30. Ex-date: 25th April 2024 Payment date: 6th May 2024 Dividend yield will be 83%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is not covered by earnings (130% earnings payout ratio). However, it is well covered by cash flows (26% cash payout ratio). The dividend has increased over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 44% to bring the payout ratio under control. EPS is expected to grow by 58% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: kr1.77 (vs kr0.67 in FY 2022) Full year 2023 results: EPS: kr1.77 (up from kr0.67 in FY 2022). Revenue: kr18.9b (down 26% from FY 2022). Net income: kr192.3m (up 160% from FY 2022). Profit margin: 1.0% (up from 0.3% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 9.4% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: kr1.77 (vs kr0.67 in FY 2022) Full year 2023 results: EPS: kr1.77 (up from kr0.67 in FY 2022). Revenue: kr18.9b (down 26% from FY 2022). Net income: kr192.3m (up 160% from FY 2022). Profit margin: 1.0% (up from 0.3% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 6.8% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. New Risk • Nov 04
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 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.3% average weekly change). Reported Earnings • Nov 02
Third quarter 2023 earnings released: kr0.02 loss per share (vs kr0.23 profit in 3Q 2022) Third quarter 2023 results: kr0.02 loss per share (down from kr0.23 profit in 3Q 2022). Revenue: kr2.21b (down 65% from 3Q 2022). Net loss: kr1.64m (down 106% from profit in 3Q 2022). Revenue is expected to fall by 18% p.a. on average during the next 3 years compared to a 4.8% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 34 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: kr0.087 (vs kr0.79 in 2Q 2022) Second quarter 2023 results: EPS: kr0.087 (down from kr0.79 in 2Q 2022). Revenue: kr3.51b (down 14% from 2Q 2022). Net income: kr9.48m (down 89% from 2Q 2022). Profit margin: 0.3% (down from 2.2% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 24% p.a. on average during the next 3 years compared to a 4.1% decline forecast for the Electric Utilities industry in Europe. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €1.91, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total loss to shareholders of 3.0% over the past year. Reported Earnings • May 10
First quarter 2023 earnings released: EPS: kr0.89 (vs kr0.96 in 1Q 2022) First quarter 2023 results: EPS: kr0.89 (down from kr0.96 in 1Q 2022). Revenue: kr8.03b (up 20% from 1Q 2022). Net income: kr96.5m (down 12% from 1Q 2022). Profit margin: 1.2% (down from 1.6% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 11% p.a. on average during the next 3 years compared to a 3.5% decline forecast for the Electric Utilities industry in Europe. Upcoming Dividend • Apr 20
Upcoming dividend of kr1.50 per share at 8.6% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 05 May 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 8.6%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (4.9%). Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.50, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 49% over the past year. Reported Earnings • Feb 18
Full year 2022 earnings released: EPS: kr0.67 (vs kr3.00 in FY 2021) Full year 2022 results: EPS: kr0.67 (down from kr3.00 in FY 2021). Revenue: kr25.5b (up 68% from FY 2021). Net income: kr73.8m (down 78% from FY 2021). Profit margin: 0.3% (down from 2.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 6.0% p.a. on average during the next 2 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment deteriorated over the past week After last week's 21% share price decline to €1.61, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total loss to shareholders of 58% over the past year. 공시 • Dec 23
Elmera Group ASA to Report Q4, 2022 Results on Feb 16, 2023 Elmera Group ASA announced that they will report Q4, 2022 results on Feb 16, 2023 Board Change • Nov 21
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Chair Steinar Sonsteby was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: kr0.24 (vs kr0.19 in 3Q 2021) Third quarter 2022 results: EPS: kr0.24 (up from kr0.19 in 3Q 2021). Revenue: kr6.29b (up 164% from 3Q 2021). Net income: kr25.6m (up 16% from 3Q 2021). Profit margin: 0.4% (down from 0.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Europe. Board Change • Aug 26
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Director Tone Wille was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.