공고 • Oct 08
OX2 AB (publ) Appoints Roshan Saldanha as Chief Financial Officer, Effective April 2025 OX2 AB (publ) appointed Roshan Saldanha, the new Chief Financial Officer of the company. He will take on his position in April 2025 and be a member of the Leadership Team at the company. Roshan Saldanha brings nearly 25 years of financial experience to the company, from several different industries and listed companies. He currently holds the position as Chief Financial Officer at Sinch. Before that he held several leadership positions at Tele2 Group, among them as CFO for Tele2 Sweden. He has also previously had assignments for international firms like Arthur Andersen, Citibank and Kinnevik Group. As previously announced CFO Johan Rydmark who has decided to leave the company will remain in his position until April 2025. 공고 • Oct 07
OX2 Set to Delist from Nasdaq Stockholm after EQT Takeover OX2 AB (publ) is set to be delisted from Nasdaq Stockholm after receiving the bourse's approval, with Oct. 21 being the last day of trading of its shares, according to a October 7, 2024 release. The delisting follows the Swedish renewable energy company's acquisition by EQT Infrastructure VI, a fund managed by Swedish private equity firm EQT. 공고 • Oct 01
Chief Financial Officer Johan Rydmark Leaves OX2 AB (publ) in April 2025 Johan Rydmark, Chief Financial Officer, has decided to leave OX2 AB (publ) in April 2025. Johan Rydmark joined OX2 as Chief Financial Officer in June 2019 and has been a member of the Group Leadership Team since then. In his position he has developed the company's corporate governance, financing strategy and finance operations. The search for a successor has been initiated and Johan Rydmark will remain with OX2 until April 2025. 공고 • Sep 28
OX2 AB (publ)(OM:OX2) dropped from OMX Nordic All-Share Index OX2 AB (publ) has been removed from OMX Nordic All-Share Index . 공고 • Sep 26
OX2 AB Applies for Delisting from Nasdaq Stockholm OX2 AB (publ), the acquisition target of private equity firm EQT AB, has applied for a delisting of its stock from Nasdaq Stockholm in compliance with a request from the buyer, which is preparing a compulsory buy-out of the OX2 shares it has not already secured. The last trading date of OX2's stock on Nasdaq Stockholm will be announced as soon as confirmation from the bourse has been received, the renewables company said on September 25, 2024. EQT Infrastructure VI fund, through Otello BidCo AB, proposed to buy all OX2 shares at SEK 60 apiece in cash for a total sum of SEK 16.35 billion (USD 1.61 billion/EUR 1.44 billion). As of September 24, EQT's proposal was accepted to an extent ensuring it will take hold of 95.58% of OX2's stock upon the settlement scheduled for October 2. Through Otello BidCo, the buyer has requested the delisting of OX2's shares as it intends to launch a compulsory buy-out of the remaining shares in the renewables group. 공고 • Sep 25
OX2 AB (publ) to Delist from Nasdaq Stockholm EQT's EQT Infrastructure VI plans to start compulsory redemption proceedings as it now holds 95.58% of OX2 AB (publ)'s shares upon the completion of its cash tender offer. The Swedish private equity giant via Otello BidCo secured a take-up of 171,104,182 shares, representing 62.79% of OX2, according to a September 24, 2024 release. The offer was extended to Oct. 7, with the tendered shares slated for settlement starting Oct. 16. In addition to acquiring the remaining shares, the proceedings also aim to delist OX2 from Nasdaq Stockholm. 공고 • Jun 13
OX2 Announces Resignation of Kristina Wright as Chief Operating Officer OX2 AB (publ) announced Chief Operating Officer Kristina Wright leaves OX2 and her responsibilities will be divided between the other members in the leadership team. Board Change • May 13
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. 4 experienced directors. 2 highly experienced directors. Independent Director Malin Persson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 공고 • Apr 03
Flower Technologies AB agreed to acquire 42.5 MW energy storage facility in Bredhälla from OX2 AB (publ) (OM:OX2). Flower Technologies AB agreed to acquire 42.5 MW energy storage facility in Bredhälla from OX2 AB (publ) (OM:OX2) on April 3, 2024. The transaction is conditional on approval from the Swedish authorities and Svenska Kraftnät and is expected to close during the second quarter of 2024. 공고 • Mar 22
OX2 AB (publ) to Report Fiscal Year 2023 Results on Apr 09, 2024 OX2 AB (publ) announced that they will report fiscal year 2023 results on Apr 09, 2024 공고 • Dec 02
OX2 AB (publ) Updates Earnings Guidance for the Fiscal Year 2023 OX2 AB (publ) updated earnings guidance for the fiscal year 2023. for the year, the company expects operating income for the full year 2023 to be approximately SEK 1,000 Million. the company has agreed with Ingka Investments, the investment arm of Ingka Group – the biggest IKEA retailer – to sell a 49% stake in next generation Swedish offshore wind projects. The transaction is expected to impact OX2’s operating income positively with approximately SEK 200 Million in 2023. 공고 • Nov 23
Afcon Renewable Energy Ltd agreed to acquire solar projects of 82 MW in Andalusia and Castilla la Mancha from OX2 AB (publ) (OM:OX2) . Afcon Renewable Energy Ltd agreed to acquire solar projects of 82 MW in Andalusia and Castilla la Mancha from OX2 AB (publ) (OM:OX2) on November 21, 2023. The sale is OX2’s first in Spain and will be recorded in the fourth quarter of 2023. 공고 • Nov 17
OX2 AB (publ) Announces Board Appointments OX2 AB (publ) announced it's Annual General Meeting 2024 will be held in Stockholm on 14 May 2024. The Nomination Committee for the Annual General Meeting 2024 has been appointed based on the shareholding structure as of 31 August 2023 and is composed of: Johan Wieslander (Chairman), appointed by Peas Industries, Jesper Bergström, appointed by Handelsbanken Fonder, and Peter Lagerlöf, appointed by Lannebo Fonder. In addition, the Chairman of the Board of Directors of OX2, Johan Ihrfelt, is a member of the Nomination Committee. Reported Earnings • Jul 25
Second quarter 2023 earnings released: EPS: kr0.92 (vs kr1.12 in 2Q 2022) Second quarter 2023 results: EPS: kr0.92 (down from kr1.12 in 2Q 2022). Revenue: kr2.20b (up 50% from 2Q 2022). Net income: kr251.0m (down 17% from 2Q 2022). Profit margin: 11% (down from 21% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Construction industry in the United Kingdom. 공고 • Jul 04
OX2 AB (publ) Announces Resignation of Jan Frykhammar as Board of Director and Member of Audit Committee Jan Frykhammar has informed the board of directors of OX2 AB (publ) that he resigns as member of the board from July 3, 2023. Jan Frykhammar has notified the Board that he will be resigning for personal matters. Jan Frykhammar will also be leaving the OX2 Audit Committee. 공고 • May 17
Petter Samlin Do Not Stand for Re-Election as Director of OX2 AB (publ) OX2 AB (publ) at its AGM held on May 16, 2023, announced that Petter Samlin had declined re-election as Director. 공고 • May 14
Ingka Investments agreed to acquire three offshore wind projects in Finland from OX2 AB (publ) (OM:OX2). Ingka Investments agreed to acquire three offshore wind projects in Finland from OX2 AB (publ) (OM:OX2) on May 12, 2023. The transaction is subject to customary competition merger filing requirements and is expected to be completed within two months. 공고 • May 09
OX2 AB (publ) (OM:OX2) completed the acquisition of ESCO Pacific Pty Ltd from The Shell Petroleum Company Limited, Steve Rademaker and private investors. OX2 AB (publ) (OM:OX2) agreed to acquire ESCO Pacific Pty Ltd from The Shell Petroleum Company Limited, Steve Rademaker and private investors for approximately AUD 140 Million on March 31, 2023. The agreed purchase price amounts to AUD 126 million on a debt free basis. An additional AUD 17 million will be payable contingent upon certain sales and margin targets. Post acquisition, Steve Rademaker will stay with ESCO for two years, initially as Managing Director and thereafter as an advisor to management. The transaction is subject to fulfillment of certain conditions and expected to close by end of April 2023. The transaction is estimated to be EPS accretive in 2024 and beyond. Nick Baker of Herbert Smith Freehills acted as legal advisor to ESCO Pacific Pty Ltd. PWC acted as financial and legal advisor to OX2 AB. Lazard acted as financial advisor to The Shell Petroleum Company Limited, Steve Rademaker and private investors.
OX2 AB (publ) (OM:OX2) completed the acquisition of ESCO Pacific Pty Ltd from The Shell Petroleum Company Limited, Steve Rademaker and private investors on May 8, 2023. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: kr0.36 (vs kr0.41 in 1Q 2022) First quarter 2023 results: EPS: kr0.36 (down from kr0.41 in 1Q 2022). Revenue: kr1.46b (down 9.7% from 1Q 2022). Net income: kr99.0m (down 11% from 1Q 2022). Profit margin: 6.8% (in line with 1Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Construction industry in the United Kingdom. Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: kr4.01 (vs kr1.28 in FY 2021) Full year 2022 results: EPS: kr4.01 (up from kr1.28 in FY 2021). Revenue: kr7.64b (up 53% from FY 2021). Net income: kr1.09b (up 227% from FY 2021). Profit margin: 14% (up from 6.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Construction industry in the United Kingdom. Recent Insider Transactions • Jan 23
Director recently sold kr1.7m worth of stock On the 18th of January, Birgit Anna-Karin Celsing sold around 20k shares on-market at roughly kr85.09 per share. This transaction amounted to 9.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr35m more than they bought in the last 12 months. 공고 • Jan 10
OX2 AB (publ) (OM:OX2) entered into an agreement to acquire 152 MW solar power portfolio in Andalusia from UAB Green Genius. OX2 AB (publ) (OM:OX2) entered into an agreement to acquire 152 MW solar power portfolio in Andalusia from UAB Green Genius on January 09, 2023. J&A Garrigues, S.L.P. acted as the legal advisor to Green Genius. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: kr0.16 (vs kr0.055 in 3Q 2021) Third quarter 2022 results: EPS: kr0.16 (up from kr0.055 in 3Q 2021). Revenue: kr2.31b (up 285% from 3Q 2021). Net income: kr44.0m (up 193% from 3Q 2021). Profit margin: 1.9% (down from 2.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 33% p.a. on average during the next 3 years, while revenues in the Construction industry in the United Kingdom are expected to remain flat. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorated over the past week After last week's 21% share price decline to kr67.25, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 8x in the Construction industry in the United Kingdom.