공고 • Dec 22
Brødrene Hartmann A/S(CPSE:HART) dropped from OMX Nordic All-Share Index Brødrene Hartmann A/S has been dropped from OMX Nordic All-Share Index. 공고 • Oct 18
Brødrene Hartmann's Board of Directors to Initiate the Process of Delisting Brødrene Hartmann A/S has held an extraordinary general meeting which was convened upon request from the majority shareholder, Thornico, that had proposed a delisting of the company’s shares from trading and official listing on Nasdaq Copenhagen. The proposal was approved with the sufficient majority of a minimum of 90% of the votes cast and of the represented share capital at the extraordinary general meeting. Voting results will be available at Hartmann’s website as soon as possible. The approval of the proposal thus meets the requirements pursuant to Nasdaq's Nordic Main Market Rulebook for Issuers of Shares, Supplement A, Part E, for Nasdaq Copenhagen to accommodate a request for delisting of a company. The requirements are: The proposal is approved by a valid general meeting resolution with a minimum of 90% of the votes cast and of the represented share capital; The notice of the general meeting with the delisting proposal provides a description of the consequences of delisting for shareholders; and The company shall ensure that the shareholders are offered the ability to dispose of their shares for a period of at least four weeks after Nasdaq Copenhagen has approved the company's request for removal from trading and official listing. The board of directors will now initiate the process of delisting the company. 공고 • Aug 09
Brødrene Hartmann A/S Appoints Kenneth Kongsgaard Kristensen as CFO Brødrene Hartmann A/S has appointed Kenneth Kongsgaard Kristensen CFO effective immediately. Kenneth Kongsgaard Kristensen has been Director of Group Finance at Hartmann since 2014, and he joined the company in 2002. He holds a Master of Science (MSc) degree in Business Administration and Auditing and has previously held finance positions with GEA Niro A/S and Deloitte. 공고 • Jul 13
Brødrene Hartmann A/S Announces Board Appointments Brødrene Hartmann A/S announced that at the extraordinary general meeting was convened on 12 July 2023, upon request from the majority shareholder, Thornico Holding A/S, to elect two new members for the board of directors. Henrik Marinus Pedersen and Marianne Schelde were elected as members of the board, while Jan Klarskov Henriksen, Jan Madsen and Pernille Fabricius resigned from the board of directors. At the subsequent initial meeting of the board of directors, Henrik Marinus Pedersen was appointed chairman and Michael Strange Midskov was appointed vice chairman. Reported Earnings • May 11
First quarter 2023 earnings released First quarter 2023 results: Revenue: kr.913.1m (up 21% from 1Q 2022). Net income: kr.90.2m (up 264% from 1Q 2022). Profit margin: 9.9% (up from 3.3% in 1Q 2022). The increase in margin was driven by higher revenue. Board Change • Mar 10
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. 4 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 13
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. 4 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 29
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. 4 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 02
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. 4 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 18
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. 4 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 30
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. 4 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 23
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. 4 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 08
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. 4 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to kr.230, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 15x in the Packaging industry in Europe. Total loss to shareholders of 64% over the past year. Board Change • May 04
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Jan Madsen was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr.10.80 (down from kr.39.61 in FY 2020). Revenue: kr.2.74b (up 6.9% from FY 2020). Net income: kr.74.4m (down 73% from FY 2020). Profit margin: 2.7% (down from 11% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.4%, compared to a 12% growth forecast for the industry in the United Kingdom. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS kr.0.10 (vs kr.8.40 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: kr.630.0m (up 3.6% from 3Q 2020). Net income: kr.600.0k (down 99% from 3Q 2020). Profit margin: 0.1% (down from 9.5% in 3Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to kr.430, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 16x in the Packaging industry in Europe. Total returns to shareholders of 18% over the past three years. Reported Earnings • Aug 19
Second quarter 2021 earnings released: EPS kr.7.80 (vs kr.13.10 in 2Q 2020) The company reported a poor second quarter result with weaker earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: kr.659.2m (flat on 2Q 2020). Net income: kr.53.9m (down 40% from 2Q 2020). Profit margin: 8.2% (down from 14% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 19
First quarter 2021 earnings released: EPS kr.18.50 (vs kr.8.32 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr.749.7m (up 13% from 1Q 2020). Net income: kr.127.7m (up 122% from 1Q 2020). Profit margin: 17% (up from 8.7% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 17% share price gain to kr.641, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 18x in the Packaging industry in Europe. Total returns to shareholders of 78% over the past three years.