Board Change • Mar 31
No independent directors There are 5 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: No independent directors. 7 non-independent directors. Director Torleif Ostensen was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Board Change • Nov 16
No independent directors 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: 6 new directors. 1 experienced director. 1 highly experienced director. No independent directors (7 non-independent directors). Chairman of the Board Eivind Eidesvik is the most experienced director on the board, commencing their role in 2004. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • May 16
First quarter 2022 earnings released First quarter 2022 results: Revenue: €66.7m (up 52% from 1Q 2021). Net income: €23.8m (up 201% from 1Q 2021). Profit margin: 36% (up from 18% in 1Q 2021). The increase in margin was driven by higher revenue. Board Change • Apr 27
No independent directors There are 5 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: No independent directors. 7 non-independent directors. Director Katrine Trovik was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Upcoming Dividend • Apr 01
Upcoming dividend of kr4.50 per share Eligible shareholders must have bought the stock before 08 April 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 5.6%. Lower than top quartile of Norwegian dividend payers (5.9%). In line with average of industry peers (5.2%). Recent Insider Transactions • Mar 23
Insider recently bought kr720k worth of stock On the 18th of March, Berit Eidesvik bought around 10k shares on-market at roughly kr72.00 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to kr70.00, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 7x in the Shipping industry in Norway. Total returns to shareholders of 285% over the past three years. Reported Earnings • Feb 27
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €1.14 (up from €0.19 in FY 2020). Revenue: €209.3m (up 44% from FY 2020). Net income: €49.8m (up 484% from FY 2020). Profit margin: 24% (up from 5.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 53% per year whereas the company’s share price has increased by 58% per year. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improved over the past week After last week's 17% share price gain to kr63.00, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 7x in the Shipping industry in Norway. Total returns to shareholders of 312% over the past three years. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 19% share price gain to kr52.00, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 10x in the Shipping industry in Norway. Total returns to shareholders of 194% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improved over the past week After last week's 16% share price gain to €33.00, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 17x in the Shipping industry in Norway. Total returns to shareholders of 174% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 39% share price gain to €35.80, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 17x in the Shipping industry in Norway. Total returns to shareholders of 202% over the past three years. Upcoming Dividend • Apr 08
Upcoming dividend of kr0.60 per share Eligible shareholders must have bought the stock before 15 April 2021. Payment date: 05 May 2021. Trailing yield: 2.2%. Lower than top quartile of Norwegian dividend payers (5.0%). Lower than average of industry peers (2.6%). Is New 90 Day High Low • Mar 05
New 90-day high: kr24.80 The company is up 20% from its price of kr20.60 on 03 December 2020. The Norwegian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 9.0% over the same period. Reported Earnings • Feb 27
Full year 2020 earnings released The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €146.6m (flat on FY 2019). Net income: €8.53m (down 24% from FY 2019). Profit margin: 5.8% (down from 7.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Dec 29
New 90-day high: kr23.40 The company is up 22% from its price of kr19.20 on 30 September 2020. The Norwegian market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 24% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: kr19.10 The company is down 1.0% from its price of kr19.30 on 31 July 2020. The Norwegian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Shipping industry, which is up 7.0% over the same period. Is New 90 Day High Low • Oct 12
New 90-day high: kr22.00 The company is up 12% from its price of kr19.60 on 14 July 2020. The Norwegian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Shipping industry, which is up 8.0% over the same period.