Reported Earnings • Nov 05
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr115.8m (up 16% from 3Q 2023). Net loss: kr599.0k (loss narrowed 77% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 05
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr118.8m (up 30% from 2Q 2023). Net income: kr266.0k (up kr261.0k from 2Q 2023). Profit margin: 0.2% (up from 0% in 2Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • May 10
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr135.4m (up 49% from 1Q 2023). Net income: kr2.61m (up kr2.49m from 1Q 2023). Profit margin: 1.9% (up from 0.1% in 1Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • Feb 08
Full year 2023 earnings released: kr0.45 loss per share (vs kr0.089 profit in FY 2022) Full year 2023 results: kr0.45 loss per share (down from kr0.089 profit in FY 2022). Revenue: kr384.0m (up 36% from FY 2022). Net loss: kr4.64m (down kr5.46m from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Board Change • Nov 24
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Kristoffer Lind was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 27% per year over the past 5 years. Market cap is less than US$10m (kr36.7m market cap, or US$3.36m). Minor Risk Shareholders have been diluted in the past year (12% increase in shares outstanding). New Risk • Nov 06
New major risk - Revenue and earnings growth Earnings have declined by 27% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 27% per year over the past 5 years. Market cap is less than US$10m (kr30.7m market cap, or US$2.82m). Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr3.70, the stock trades at a trailing P/E ratio of 65.4x. Average trailing P/E is 18x in the Real Estate industry in Sweden. Total returns to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • May 29
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to kr5.70, the stock trades at a trailing P/E ratio of 56.7x. Average trailing P/E is 14x in the Real Estate industry in Sweden. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to kr5.75, the stock trades at a trailing P/E ratio of 64.8x. Average trailing P/E is 12x in the Real Estate industry in Sweden. Total returns to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr4.24, the stock trades at a trailing P/E ratio of 47.8x. Average trailing P/E is 10x in the Real Estate industry in Sweden. Total returns to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr5.80, the stock trades at a trailing P/E ratio of 65.4x. Average trailing P/E is 10x in the Real Estate industry in Sweden. Total returns to shareholders of 58% over the past three years. Reported Earnings • Nov 24
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr74.3m (up 43% from 3Q 2021). Net income: kr398.0k (up kr1.47m from 3Q 2021). Profit margin: 0.5% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Kristoffer Lind was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 23
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr64.4m (up 38% from 2Q 2021). Net income: kr434.0k (up kr1.36m from 2Q 2021). Profit margin: 0.7% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Board Change • Apr 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Kristoffer Lind was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 25
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: kr46.8m (up 11% from 2Q 2020). Net loss: kr928.0k (down 383% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • May 21
First quarter 2021 earnings released The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: kr45.2m (up 5.5% from 1Q 2020). Net loss: kr1.35m (loss widened kr1.32m from 1Q 2020). Is New 90 Day High Low • Feb 19
New 90-day high: kr3.78 The company is up 17% from its price of kr3.24 on 20 November 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 6.0% over the same period. Reported Earnings • Nov 26
Third quarter 2020 earnings released: kr0.077 loss per share The company reported a soft third quarter result with weaker earnings and control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: kr43.4m (up 11% from 3Q 2019). Net loss: kr711.0k (down 162% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 12
New 90-day low: kr2.86 The company is down 23% from its price of kr3.70 on 13 August 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 17% over the same period. Is New 90 Day High Low • Oct 26
New 90-day low: kr3.12 The company is down 22% from its price of kr4.00 on 28 July 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 15% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: kr3.20 The company is down 15% from its price of kr3.75 on 26 June 2020. The Swedish market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 15% over the same period.