Reported Earnings • May 19
First quarter 2026 earnings released First quarter 2026 results: Net income: kr20.0m (down 16% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 18
Upcoming dividend of kr2.52 per share Eligible shareholders must have bought the stock before 25 May 2026. Payment date: 29 May 2026. Payout ratio is a comfortable 52% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Swedish dividend payers (4.2%). Lower than average of industry peers (3.8%). New Risk • May 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 15% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 15% per year for the foreseeable future. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (172% net profit margin). Revenue is less than US$5m (kr43m revenue, or US$4.6m). Board Change • Apr 02
Less than half of directors are independent 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: 2 independent directors. 6 non-independent directors. Independent Director Susanne Lofas-Hallman was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. 공시 • Mar 13
Dala Energi AB (publ) (OM:DE) signed a letter of intent to acquire an additional 35% stake in Dala Vind Ab for an enterprise value of SEK 200 million. Dala Energi AB (publ) (OM:DE) signed a letter of intent to acquire an additional 35% stake in Dala Vind Ab for an enterprise value of SEK 200 million on March 12, 2025. Upon completion, Dala Energi AB (publ) will own 55% stake in Dala Vind Ab.
The deal is expected to close in spring 2025. 공시 • Sep 03
Dala Energi AB (publ), Annual General Meeting, May 23, 2025 Dala Energi AB (publ), Annual General Meeting, May 23, 2025. 공시 • Apr 03
Ellevio AB (publ) made a tender offer to acquire Dala Energi AB (publ) (OM:DE) from Antap Capital AB and others for SEK 2.2 billion. Ellevio AB (publ) made a tender offer to acquire Dala Energi AB (publ) (OM:DE) from Antap Capital AB and others for SEK 2.2 billion on April 2, 2024. Ellevio offers SEK 90 in cash for each share in Dala Energi. The deal will be financed from Ellevio AB (publ) capital contribution. The acceptance period in the Offer is expected to commence on April 5, 2024, and end on June 28, 2024. Completion of the Offer is conditional upon i) the Offer being accepted to such extent that Ellevio becomes the owner of shares representing more than 90% of the total number of outstanding shares in Dala Energi, ii) receipt of all necessary regulatory, governmental or similar clearances, approvals, decisions and other actions from authorities or similar, including from competition authorities and authorities for foreign direct investments (FDI). The board of directors of Dala Energi has appointed an independent bid committee which will evaluate the Offer and has announced that it intends to engage an independent external advisor to issue a so-called fairness opinion. ICECAPITAL acted as a financial advisor and Vinge acted as a legal advisor to Ellevio. Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: kr3.35 (vs kr3.24 in FY 2022) Full year 2023 results: EPS: kr3.35 (up from kr3.24 in FY 2022). Revenue: kr396.0m (up 10% from FY 2022). Net income: kr83.1m (up 3.5% from FY 2022). Profit margin: 21% (down from 22% in FY 2022). The decrease in margin was driven by higher expenses. New Risk • Jan 17
New major risk - Revenue and earnings growth Earnings have declined by 7.2% 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 Risk Earnings have declined by 7.2% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Recent Insider Transactions • Nov 26
Independent Director recently bought kr85k worth of stock On the 22nd of November, Jonny Jones bought around 2k shares on-market at roughly kr48.00 per share. This transaction amounted to 79% of their direct individual holding at the time of the trade. 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. Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr83.7m (up 9.1% from 3Q 2022). Net income: kr17.1m (up 33% from 3Q 2022). Profit margin: 20% (up from 17% in 3Q 2022). The increase in margin was driven by higher revenue. Reported Earnings • Sep 03
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr92.6m (up 18% from 2Q 2022). Net income: kr10.5m (down 18% from 2Q 2022). Profit margin: 11% (down from 17% in 2Q 2022). The decrease in margin was driven by higher expenses. Upcoming Dividend • May 22
Upcoming dividend of kr1.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 29 May 2023. Payment date: 02 June 2023. Trailing yield: 1.8%. Lower than top quartile of Swedish dividend payers (5.3%). Lower than average of industry peers (4.9%). Reported Earnings • May 14
First quarter 2023 earnings released First quarter 2023 results: Revenue: kr103.3m (up 6.5% from 1Q 2022). Net income: kr31.2m (up 18% from 1Q 2022). Profit margin: 30% (up from 27% in 1Q 2022). The increase in margin was driven by higher revenue. Reported Earnings • Mar 04
Full year 2022 earnings released: EPS: kr3.24 (vs kr2.22 in FY 2021) Full year 2022 results: EPS: kr3.24 (up from kr2.22 in FY 2021). Revenue: kr359.1m (up 8.9% from FY 2021). Net income: kr80.3m (up 46% from FY 2021). Profit margin: 22% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 15% share price gain to kr62.60, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 9x in the Electric Utilities industry in Europe. Reported Earnings • Nov 16
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr76.7m (up 16% from 3Q 2021). Net income: kr12.9m (up 46% from 3Q 2021). Profit margin: 17% (up from 13% in 3Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Nov 13
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr76.7m (up 16% from 3Q 2021). Net income: kr12.9m (up 46% from 3Q 2021). Profit margin: 17% (up from 13% in 3Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improved over the past week After last week's 18% share price gain to kr58.49, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 9x in the Electric Utilities industry in Europe. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improved over the past week After last week's 15% share price gain to kr46.60, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 9x in the Electric Utilities industry in Europe. 
