New Risk • Sep 29
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Market cap is less than US$10m (kr14.6m market cap, or US$1.39m). New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (56% average weekly change). Earnings have declined by 67% per year over the past 5 years. Market cap is less than US$10m (kr14.6m market cap, or US$1.34m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). 공시 • Mar 01
Recreate ASA Announces Change of CFO Recreate ASA announced that Carl Henrik Bertelsen has resigned from his position as CFO in Recreate in order to pursue career opportunities outside of the Company. Bertelsen will continue to serve in the role as CFO until May 31, 2024. Emil Eriksrød, CEO of Recreate, will take over the role as CFO going forward, which will be combined with his current role. Eriksrød holds a Master degree from Norwegian School of Economics (NHH). Board Change • Nov 01
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. 5 experienced directors. No highly experienced directors. Independent Director Marianne Lie was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 공시 • Oct 19
Recreate ASA Announces Resignation of Truls Fjeldbergas from the Board of Directors Recreate ASA informed that deputy board member Truls Fjeldbergas resigned from the Board of Directors due to his appointment as CFO of Trainor AS . Mr. Fjeldberg has been a deputy member of the Board of Directors since 2021. A new deputy board member will be elected at the Company´s next ordinary general meeting. Reported Earnings • Oct 01
First half 2023 earnings released: kr7.19 loss per share (vs kr3.00 profit in 1H 2022) First half 2023 results: kr7.19 loss per share (down from kr3.00 profit in 1H 2022). Revenue: kr91.6m (down 15% from 1H 2022). Net loss: kr156.1m (down kr178.2m from profit in 1H 2022). New Risk • Jun 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr105.4m (US$9.61m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 39% per year over the past 5 years. Market cap is less than US$10m (kr105.4m market cap, or US$9.61m). Reported Earnings • Apr 02
Full year 2022 earnings released: kr15.49 loss per share (vs kr1.99 profit in FY 2021) Full year 2022 results: kr15.49 loss per share (down from kr1.99 profit in FY 2021). Revenue: kr215.7m (up 102% from FY 2021). Net loss: kr336.1m (down kr379.3m from profit in FY 2021). 공시 • Jan 12
Oslo Sentrum Eiendom AS acquired 50% stake in Inkognitogaten 33 A AS from Recreate ASA (OB:RCR). Oslo Sentrum Eiendom AS acquired 50% stake in Inkognitogaten 33 A AS from Recreate ASA (OB:RCR) on January 10, 2023.Oslo Sentrum Eiendom AS completed the acquisition of 50% stake in Inkognitogaten 33 A AS from Recreate ASA (OB:RCR) on January 10, 2023. Reported Earnings • Nov 16
Third quarter 2022 earnings released: kr7.50 loss per share (vs kr0.22 loss in 3Q 2021) Third quarter 2022 results: kr7.50 loss per share (further deteriorated from kr0.22 loss in 3Q 2021). Revenue: kr52.0m (up 118% from 3Q 2021). Net loss: kr113.6m (loss widened kr108.9m from 3Q 2021). Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment deteriorated over the past week After last week's 17% share price decline to kr17.20, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 5x in the Real Estate industry in Norway. Total loss to shareholders of 42% over the past year. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to kr20.60, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 6x in the Real Estate industry in Norway. Total loss to shareholders of 35% over the past year. Reported Earnings • Aug 21
Second quarter 2022 earnings released: kr2.92 loss per share (vs kr0.62 loss in 2Q 2021) Second quarter 2022 results: kr2.92 loss per share (down from kr0.62 loss in 2Q 2021). Revenue: kr50.9m (up 118% from 2Q 2021). Net loss: kr40.2m (loss widened 219% from 2Q 2021). Reported Earnings • May 06
First quarter 2022 earnings released: EPS: kr3.70 (vs kr1.14 in 1Q 2021) First quarter 2022 results: EPS: kr3.70 (up from kr1.14 in 1Q 2021). Revenue: kr59.0m (up 84% from 1Q 2021). Net income: kr80.2m (up 255% from 1Q 2021). Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Director Knut Bråthen is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 29
Full year 2021 earnings released Full year 2021 results: Revenue: kr106.6m (down 15% from FY 2020). Net income: kr43.1m (up kr54.2m from FY 2020). Profit margin: 41% (up from net loss in FY 2020). Reported Earnings • Feb 19
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr2.07 (up from kr0.56 loss in FY 2020). Revenue: kr137.2m (up 9.2% from FY 2020). Net income: kr43.1m (up kr54.2m from FY 2020). Profit margin: 31% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Board Change • Dec 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Director Knut Bråthen is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 05
Second quarter 2021 earnings released: kr0.62 loss per share (vs kr1.27 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: kr23.4m (down 20% from 2Q 2020). Net loss: kr12.6m (loss narrowed 50% from 2Q 2020). 공시 • Jun 19
R8 Property ASA (OB:R8P) entered into a letter of intent to acquire Evolve. R8 Property ASA (OB:R8P) entered into a letter of intent to acquire Evolve in Q1 2021.