Aankondiging • Oct 08
OX2 AB (publ) Appoints Roshan Saldanha as Chief Financial Officer, Effective April 2025 OX2 AB (publ) appointed Roshan Saldanha, the new Chief Financial Officer of the company. He will take on his position in April 2025 and be a member of the Leadership Team at the company. Roshan Saldanha brings nearly 25 years of financial experience to the company, from several different industries and listed companies. He currently holds the position as Chief Financial Officer at Sinch. Before that he held several leadership positions at Tele2 Group, among them as CFO for Tele2 Sweden. He has also previously had assignments for international firms like Arthur Andersen, Citibank and Kinnevik Group. As previously announced CFO Johan Rydmark who has decided to leave the company will remain in his position until April 2025. Aankondiging • Oct 07
OX2 Set to Delist from Nasdaq Stockholm after EQT Takeover OX2 AB (publ) is set to be delisted from Nasdaq Stockholm after receiving the bourse's approval, with Oct. 21 being the last day of trading of its shares, according to a October 7, 2024 release. The delisting follows the Swedish renewable energy company's acquisition by EQT Infrastructure VI, a fund managed by Swedish private equity firm EQT. Aankondiging • Oct 01
Chief Financial Officer Johan Rydmark Leaves OX2 AB (publ) in April 2025 Johan Rydmark, Chief Financial Officer, has decided to leave OX2 AB (publ) in April 2025. Johan Rydmark joined OX2 as Chief Financial Officer in June 2019 and has been a member of the Group Leadership Team since then. In his position he has developed the company's corporate governance, financing strategy and finance operations. The search for a successor has been initiated and Johan Rydmark will remain with OX2 until April 2025. Aankondiging • Sep 28
OX2 AB (publ)(OM:OX2) dropped from OMX Nordic All-Share Index OX2 AB (publ) has been removed from OMX Nordic All-Share Index . Aankondiging • Sep 25
OX2 AB (publ) to Delist from Nasdaq Stockholm EQT's EQT Infrastructure VI plans to start compulsory redemption proceedings as it now holds 95.58% of OX2 AB (publ)'s shares upon the completion of its cash tender offer. The Swedish private equity giant via Otello BidCo secured a take-up of 171,104,182 shares, representing 62.79% of OX2, according to a September 24, 2024 release. The offer was extended to Oct. 7, with the tendered shares slated for settlement starting Oct. 16. In addition to acquiring the remaining shares, the proceedings also aim to delist OX2 from Nasdaq Stockholm. Recent Insider Transactions • Sep 21
Chief Executive Officer recently sold €4.2m worth of stock On the 17th of September, Paul Stormoen sold around 790k shares on-market at roughly €5.30 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Paul's only on-market trade for the last 12 months. Recent Insider Transactions • Sep 06
Director recently sold €491k worth of stock On the 2nd of September, Birgit Anna-Karin Celsing sold around 93k shares on-market at roughly €5.29 per share. This transaction amounted to 47% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.2m more than they bought in the last 12 months. Aankondiging • Aug 07
Nala Renewables Switzerland Sàrl acquired 99.2 MW Onshore Wind Project in Romania from OX2 AB (publ) (OM:OX2) for SEK 2.5 billion. Nala Renewables Switzerland Sàrl entered into an agreement to acquire 99.2 MW Onshore Wind Project in Romania from OX2 AB (publ) (OM:OX2) for SEK 2.5 billion on August 5, 2024. Mihai Ristici, Vlad Stamatescu, Bogdan Cordos, Ianita ?ui, Roxana Ionescu of Radu Taracila Padurari Retevoescu SCA acted as legal advisor for OX2 AB.
Nala Renewables Switzerland Sàrl completed the acquisition of 99.2 MW Onshore Wind Project in Romania from OX2 AB (publ) (OM:OX2) on August 5, 2024. Reported Earnings • Jul 26
Second quarter 2024 earnings released: kr0.58 loss per share (vs kr0.92 profit in 2Q 2023) Second quarter 2024 results: kr0.58 loss per share (down from kr0.92 profit in 2Q 2023). Revenue: kr2.23b (up 1.3% from 2Q 2023). Net loss: kr158.0m (down 163% from profit in 2Q 2023). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • Jun 13
OX2 Announces Resignation of Kristina Wright as Chief Operating Officer OX2 AB (publ) announced Chief Operating Officer Kristina Wright leaves OX2 and her responsibilities will be divided between the other members in the leadership team. Recent Insider Transactions • May 29
Chief Commercial Officer recently sold €1.8m worth of stock On the 23rd of May, Peter Tornberg sold around 344k shares on-market at roughly €5.09 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.7m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 47% After last week's 47% share price gain to €5.01, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Construction industry in Europe. Total loss to shareholders of 21% over the past year. Reported Earnings • Apr 26
First quarter 2024 earnings released: kr0.19 loss per share (vs kr0.36 profit in 1Q 2023) First quarter 2024 results: kr0.19 loss per share (down from kr0.36 profit in 1Q 2023). Revenue: kr944.0m (down 36% from 1Q 2023). Net loss: kr53.0m (down 154% from profit in 1Q 2023). Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Construction industry in Europe. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to €3.60, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Construction industry in Europe. Total loss to shareholders of 49% over the past year. Reported Earnings • Apr 11
Full year 2023 earnings released: EPS: kr3.79 (vs kr4.01 in FY 2022) Full year 2023 results: EPS: kr3.79 (down from kr4.01 in FY 2022). Revenue: kr7.82b (up 2.4% from FY 2022). Net income: kr1.03b (down 5.4% from FY 2022). Profit margin: 13% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Construction industry in Europe. Aankondiging • Apr 03
Flower Technologies AB agreed to acquire 42.5 MW energy storage facility in Bredhälla from OX2 AB (publ) (OM:OX2). Flower Technologies AB agreed to acquire 42.5 MW energy storage facility in Bredhälla from OX2 AB (publ) (OM:OX2) on April 3, 2024. The transaction is conditional on approval from the Swedish authorities and Svenska Kraftnät and is expected to close during the second quarter of 2024. Aankondiging • Mar 22
OX2 AB (publ) to Report Fiscal Year 2023 Results on Apr 09, 2024 OX2 AB (publ) announced that they will report fiscal year 2023 results on Apr 09, 2024 Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €4.70, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Construction industry in Europe. Total loss to shareholders of 28% over the past year. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: kr3.79 (vs kr4.01 in FY 2022) Full year 2023 results: EPS: kr3.79 (down from kr4.01 in FY 2022). Revenue: kr7.82b (up 2.4% from FY 2022). Net income: kr1.03b (down 5.4% from FY 2022). Profit margin: 13% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Construction industry in Europe. Board Change • Feb 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. 4 experienced directors. 2 highly experienced directors. Independent Director Malin Persson was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Dec 02
OX2 AB (publ) Updates Earnings Guidance for the Fiscal Year 2023 OX2 AB (publ) updated earnings guidance for the fiscal year 2023. for the year, the company expects operating income for the full year 2023 to be approximately SEK 1,000 Million. the company has agreed with Ingka Investments, the investment arm of Ingka Group – the biggest IKEA retailer – to sell a 49% stake in next generation Swedish offshore wind projects. The transaction is expected to impact OX2’s operating income positively with approximately SEK 200 Million in 2023. Aankondiging • Nov 23
Afcon Renewable Energy Ltd agreed to acquire solar projects of 82 MW in Andalusia and Castilla la Mancha from OX2 AB (publ) (OM:OX2) . Afcon Renewable Energy Ltd agreed to acquire solar projects of 82 MW in Andalusia and Castilla la Mancha from OX2 AB (publ) (OM:OX2) on November 21, 2023. The sale is OX2’s first in Spain and will be recorded in the fourth quarter of 2023. Aankondiging • Nov 17
OX2 AB (publ) Announces Board Appointments OX2 AB (publ) announced it's Annual General Meeting 2024 will be held in Stockholm on 14 May 2024. The Nomination Committee for the Annual General Meeting 2024 has been appointed based on the shareholding structure as of 31 August 2023 and is composed of: Johan Wieslander (Chairman), appointed by Peas Industries, Jesper Bergström, appointed by Handelsbanken Fonder, and Peter Lagerlöf, appointed by Lannebo Fonder. In addition, the Chairman of the Board of Directors of OX2, Johan Ihrfelt, is a member of the Nomination Committee. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: kr1.32 (vs kr0.16 in 3Q 2022) Third quarter 2023 results: EPS: kr1.32 (up from kr0.16 in 3Q 2022). Revenue: kr2.33b (flat on 3Q 2022). Net income: kr360.0m (up kr316.0m from 3Q 2022). Profit margin: 16% (up from 1.9% in 3Q 2022). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Construction industry in Germany. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €3.41, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Construction industry in Europe. Total loss to shareholders of 46% over the past year. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €3.66, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Construction industry in Europe. Total loss to shareholders of 59% over the past year. Reported Earnings • Jul 21
Second quarter 2023 earnings released: EPS: kr0.92 (vs kr1.12 in 2Q 2022) Second quarter 2023 results: EPS: kr0.92 (down from kr1.12 in 2Q 2022). Revenue: kr2.20b (up 50% from 2Q 2022). Net income: kr251.0m (down 17% from 2Q 2022). Profit margin: 11% (down from 21% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Germany. Aankondiging • Jul 04
OX2 AB (publ) Announces Resignation of Jan Frykhammar as Board of Director and Member of Audit Committee Jan Frykhammar has informed the board of directors of OX2 AB (publ) that he resigns as member of the board from July 3, 2023. Jan Frykhammar has notified the Board that he will be resigning for personal matters. Jan Frykhammar will also be leaving the OX2 Audit Committee. Aankondiging • May 17
Petter Samlin Do Not Stand for Re-Election as Director of OX2 AB (publ) OX2 AB (publ) at its AGM held on May 16, 2023, announced that Petter Samlin had declined re-election as Director. Aankondiging • May 14
Ingka Investments agreed to acquire three offshore wind projects in Finland from OX2 AB (publ) (OM:OX2). Ingka Investments agreed to acquire three offshore wind projects in Finland from OX2 AB (publ) (OM:OX2) on May 12, 2023. The transaction is subject to customary competition merger filing requirements and is expected to be completed within two months. Aankondiging • May 09
OX2 AB (publ) (OM:OX2) completed the acquisition of ESCO Pacific Pty Ltd from The Shell Petroleum Company Limited, Steve Rademaker and private investors. OX2 AB (publ) (OM:OX2) agreed to acquire ESCO Pacific Pty Ltd from The Shell Petroleum Company Limited, Steve Rademaker and private investors for approximately AUD 140 Million on March 31, 2023. The agreed purchase price amounts to AUD 126 million on a debt free basis. An additional AUD 17 million will be payable contingent upon certain sales and margin targets. Post acquisition, Steve Rademaker will stay with ESCO for two years, initially as Managing Director and thereafter as an advisor to management. The transaction is subject to fulfillment of certain conditions and expected to close by end of April 2023. The transaction is estimated to be EPS accretive in 2024 and beyond. Nick Baker of Herbert Smith Freehills acted as legal advisor to ESCO Pacific Pty Ltd. PWC acted as financial and legal advisor to OX2 AB. Lazard acted as financial advisor to The Shell Petroleum Company Limited, Steve Rademaker and private investors.
OX2 AB (publ) (OM:OX2) completed the acquisition of ESCO Pacific Pty Ltd from The Shell Petroleum Company Limited, Steve Rademaker and private investors on May 8, 2023. Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: kr4.01 (vs kr1.28 in FY 2021) Full year 2022 results: EPS: kr4.01 (up from kr1.28 in FY 2021). Revenue: kr7.64b (up 53% from FY 2021). Net income: kr1.09b (up 227% from FY 2021). Profit margin: 14% (up from 6.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Europe. Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: kr4.01 (vs kr1.28 in FY 2021) Full year 2022 results: EPS: kr4.01 (up from kr1.28 in FY 2021). Revenue: kr7.64b (up 53% from FY 2021). Net income: kr1.09b (up 227% from FY 2021). Profit margin: 14% (up from 6.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 34% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Construction industry in Europe. Recent Insider Transactions • Jan 22
Director recently sold €153k worth of stock On the 18th of January, Birgit Anna-Karin Celsing sold around 20k shares on-market at roughly €7.64 per share. This transaction amounted to 9.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.2m more than they bought in the last 12 months. Aankondiging • Jan 10
OX2 AB (publ) (OM:OX2) entered into an agreement to acquire 152 MW solar power portfolio in Andalusia from UAB Green Genius. OX2 AB (publ) (OM:OX2) entered into an agreement to acquire 152 MW solar power portfolio in Andalusia from UAB Green Genius on January 09, 2023. J&A Garrigues, S.L.P. acted as the legal advisor to Green Genius. Aankondiging • Dec 23
OX2 AB (publ) to Report Q1, 2023 Results on Apr 28, 2023 OX2 AB (publ) announced that they will report Q1, 2023 results on Apr 28, 2023 Aankondiging • Dec 01
OX2 AB (publ), Annual General Meeting, May 16, 2023 OX2 AB (publ), Annual General Meeting, May 16, 2023. Aankondiging • Nov 29
Helen Oy and Ålandsbanken Abp (HLSE:ALBAV) agreed to acquire Niinimäki wind farm in Finland from OX2 AB (publ) (OM:OX2). Helen Oy and Ålandsbanken Abp (HLSE:ALBAV) agreed to acquire Niinimäki wind farm in Finland from OX2 AB (publ) (OM:OX2) on November 28, 2022. Construction of the Niinimäki wind farm will begin immediately, and the project is expected to be completed by the end of 2024. The wind farm will consist of 22 turbines and have a total installed capacity of 145 MW. Aankondiging • Oct 29
OX2 AB (Publ) Re-Iterates Earnings Guidance for the Year of 2022 OX2 AB (publ) re-iterated earnings guidance for the year of 2022. For the year, the company expected operating income exceeding SEK 1 billion. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: kr0.16 (vs kr0.055 in 3Q 2021) Third quarter 2022 results: EPS: kr0.16 (up from kr0.055 in 3Q 2021). Revenue: kr2.31b (up 285% from 3Q 2021). Net income: kr44.0m (up 193% from 3Q 2021). Profit margin: 1.9% (down from 2.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Construction industry in Europe. Aankondiging • Aug 30
Ingka Investments agreed to acquire 49% stake in Three offshore wind development projects in Sweden from OX2 AB (publ) (OM:OX2) for €58 million. Ingka Investments agreed to acquire 49% stake in Three offshore wind development projects in Sweden from OX2 AB (publ) (OM:OX2) for €58 million on August 29, 2022. The three wind power projects are Galatea-Galene in Kattegat, Triton in the Baltic Sea south of Sweden and Aurora between the islands Öland and Gotland. The transaction is subject to customary competition merger filing requirements and is expected to be completed within two months. Orrick, Herrington & Sutcliffe (Uk) Llp and Mannheimer Swartling Advokatbyrå Aktiebolag acted as legal advisor to OX2 AB (publ). KPMG LLP acted as accountant to OX2 AB (publ). Aankondiging • Aug 29
OX2 AB (publ) Updates Earnings Guidance for the Second Half and Full Year of 2022 OX2 AB (publ) sells its first offshore wind projects to Ingka Investments, who acquires a 49% stake in three projects in Sweden. The projects will have the potential to reach a total installed capacity of up to 9,000 MW. OX2 will receive an initial payment of SEK 610 million. The transaction is expected to impact operating income positively with SEK 584 million in the second half of 2022. Following the completion of the transaction, the company expects operating income for the full year 2022 to be slightly above SEK 1,000 million. Aankondiging • Aug 27
OX2 AB Appoints Kristina Wright as Chief Operating Officer, Effective November 1, 2022 OX2 AB announced that effective November 1, 2022, Kristina Wright takes on the position as Chief Operating Officer and becomes a member of OX2’s Management Team. As Chief Operating Officer (COO) Kristina Wright will be responsible for driving growth in OX2’s markets as well as capturing the synergies between the company's different operations. Kristina Wright currently works as Vice President, Head of Global Operating Model and Transformation Office, at the global energy solution provider Vestas. Before that she has held similar roles at A.P. Moeller Maersk. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 23% share price gain to €9.80, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 72% over the past year. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: kr1.12 (vs kr0.14 in 2Q 2021) Second quarter 2022 results: EPS: kr1.12 (up from kr0.14 in 2Q 2021). Revenue: kr1.47b (up 55% from 2Q 2021). Net income: kr304.0m (up kr270.0m from 2Q 2021). Profit margin: 21% (up from 3.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 56%, compared to a 9.2% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 23% share price decline to €6.59, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 11x in the Construction industry in Europe. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: kr0.41 (vs kr0.19 in 1Q 2021) First quarter 2022 results: EPS: kr0.41 (up from kr0.19 in 1Q 2021). Revenue: kr1.62b (up 62% from 1Q 2021). Net income: kr111.0m (up 132% from 1Q 2021). Profit margin: 6.8% (up from 4.8% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 49%, compared to a 6.0% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 18% share price gain to €7.23, the stock trades at a forward P/E ratio of 64x. Average forward P/E is 12x in the Construction industry in Europe. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: kr1.28 (vs kr1.19 in FY 2020) Full year 2021 results: EPS: kr1.28 (up from kr1.19 in FY 2020). Revenue: kr4.98b (down 4.2% from FY 2020). Net income: kr334.0m (up 12% from FY 2020). Profit margin: 6.7% (up from 5.7% in FY 2020). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 48%, compared to a 5.5% growth forecast for the industry in Germany. Reported Earnings • Feb 24
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: kr1.28 (up from kr1.19 in FY 2020). Revenue: kr4.98b (down 4.2% from FY 2020). Net income: kr334.0m (up 12% from FY 2020). Profit margin: 6.7% (up from 5.7% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 50%. Over the next year, revenue is forecast to grow 46%, compared to a 11% growth forecast for the industry in Germany. Aankondiging • Feb 24
OX2 AB (publ) to Report Q1, 2022 Results on Apr 27, 2022 OX2 AB (publ) announced that they will report Q1, 2022 results on Apr 27, 2022 Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorated over the past week After last week's 21% share price decline to €4.01, the stock trades at a forward P/E ratio of 54x. Average forward P/E is 12x in the Construction industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €3.29 per share. Aankondiging • Jan 13
MEAG MUNICH ERGO Asset Management GmbH cancelled the acquisition of Zary Wind Park. MEAG MUNICH ERGO Asset Management GmbH agreed to acquire Zary Wind Park on February 4, 2020. The wind park is scheduled to go into operation in the spring of 2021.
MEAG MUNICH ERGO Asset Management GmbH completed the acquisition of Zary Wind Park on January 11, 2022. Aankondiging • Dec 31
OX2 AB Applies for A Natura 2000 Permit for A Wind Farm Outside Skåne OX2 AB applied for a Natura 2000-permit for an offshore wind farm within the Swedish Exclusive Economic Zone off the coast of Skåne. The wind farm is called Triton and is located about 30 km south of Ystad. The offshore wind farm comprises up to 129 turbines with a maximum height of 370 meters. OX2's permit application, which includes an environmental impact assessment, EIA, is handled by the County Administrative Board of Skåne. The capacity of the wind farm is about 1,800 MW, and the estimated electricity production amounts to approximately 7.5 TWh per year, which corresponds to the production from a nuclear power reactor or an annual household electricity consumption of 1.5 million households. The project corresponds to reduced carbon dioxide emissions of approximately 4.5 million tonnes per year. The project is part of OX2's Swedish project development portfolio, which at the end of the third quarter amounted to 11.3 GW. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improved over the past week After last week's 16% share price gain to €5.40, the stock trades at a forward P/E ratio of 61x. Average forward P/E is 13x in the Construction industry in Europe. 
