Board Change • Jun 29
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. 6 experienced directors. 1 highly experienced director. Member of Advisory Board Jean-Michel Herrewyn was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jun 11
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. 6 experienced directors. 1 highly experienced director. Member of Advisory Board Jean-Michel Herrewyn was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jun 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. 6 experienced directors. 1 highly experienced director. Member of Advisory Board Jean-Michel Herrewyn was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €1.97, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 13x in the Machinery industry in Germany. Total returns to shareholders of 23% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €3.67 per share. Aankondiging • Dec 31
Cambi ASA, Annual General Meeting, May 07, 2026 Cambi ASA, Annual General Meeting, May 07, 2026. Board Change • Dec 05
No independent directors There are 4 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: 4 new directors. 3 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Nov 13
No independent directors There are 4 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: 4 new directors. 3 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Aankondiging • Nov 06
Cambi ASA announces Annual dividend, payable on November 20, 2025 Cambi ASA announced Annual dividend of NOK 0.4500 per share payable on November 20, 2025, ex-date on November 10, 2025 and record date on November 11, 2025. Board Change • Oct 29
No independent directors There are 4 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: 4 new directors. 3 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Sep 12
No independent directors There are 4 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: 4 new directors. 3 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Jul 07
No independent directors There are 4 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: 4 new directors. 3 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Jun 13
No independent directors There are 4 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: 4 new directors. 3 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Apr 13
Full year 2024 earnings released: EPS: kr0.94 (vs kr1.15 in FY 2023) Full year 2024 results: EPS: kr0.94 (down from kr1.15 in FY 2023). Revenue: kr1.03b (up 5.8% from FY 2023). Net income: kr149.7m (down 19% from FY 2023). Profit margin: 14% (down from 19% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Machinery industry in Germany. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to €1.28, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Machinery industry in Germany. Negligible returns to shareholders over past year. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.48, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Machinery industry in Germany. Total returns to shareholders of 91% over the past three years. Board Change • Feb 07
No independent directors There are 7 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: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. 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. Board Change • Jan 15
No independent directors There are 7 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: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. 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. Aankondiging • Dec 24
Cambi ASA, Annual General Meeting, May 08, 2025 Cambi ASA, Annual General Meeting, May 08, 2025. Board Change • Dec 20
No independent directors There are 7 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: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. 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. Board Change • Nov 29
No independent directors There are 7 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: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. 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 • Nov 12
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr277.5m (up 18% from 3Q 2023). Net income: kr43.0m (down 39% from 3Q 2023). Profit margin: 16% (down from 30% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Board Change • Oct 14
No independent directors There are 7 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: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. 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. Recent Insider Transactions • Aug 23
Chief Executive Officer recently sold €1.6m worth of stock On the 21st of August, Eirik Fadnes sold around 1m shares on-market at roughly €1.28 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 Eirik's only on-market trade for the last 12 months. Reported Earnings • Aug 21
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr306.4m (up 29% from 2Q 2023). Net income: kr58.4m (up 10% from 2Q 2023). Profit margin: 19% (down from 22% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Board Change • Jul 10
No independent directors There are 7 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: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. 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. Upcoming Dividend • Apr 26
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 03 May 2024. Payment date: 16 May 2024. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 6.9%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.3%). Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: kr1.15 (vs kr0.073 loss in FY 2022) Full year 2023 results: EPS: kr1.15 (up from kr0.073 loss in FY 2022). Revenue: kr976.6m (up 122% from FY 2022). Net income: kr184.1m (up kr195.7m from FY 2022). Profit margin: 19% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 15
Final dividend of kr1.00 announced Shareholders will receive a dividend of kr1.00. Ex-date: 3rd May 2024 Payment date: 16th May 2024 Dividend yield will be 70%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (83% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Reported Earnings • Mar 07
Full year 2023 earnings released Full year 2023 results: Revenue: kr976.6m (up 122% from FY 2022). Net income: kr185.2m (up kr196.8m from FY 2022). Profit margin: 19% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Machinery industry in Germany. Aankondiging • Mar 07
Cambi ASA Proposes Cash Dividend, Payable on or About 16 May 2024 Cambi ASA proposed cash dividend of NOK 1.00 per share, subject to approval by the annual general meeting of Cambi ASA on 2 May 2024. Ex-date is 3 May 2024, Record date is 6 May 2024 and Payment date is on or about 16 May 2024. Aankondiging • Nov 19
Cambi Asa Announces CEO Changes Cambi ASA announced that Eirik Fadnes, will be away on paternity leave until March 2024. Cambi announced that Lars-Petter Traa, currently employed as Chief Commercial Officer, has accepted to fill the position as acting CEO for the entire period that Fadnes is away on paternity leave. New Risk • Nov 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.4% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 02
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr234.8m (up 115% from 3Q 2022). Net income: kr70.5m (up kr72.8m from 3Q 2022). Profit margin: 30% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in Germany. Aankondiging • Oct 01
Cambi ASA Approves Dividend, Payable is Expected to Occur on or Around 10 October 2023 Cambi ASA held an extraordinary general meeting on September 29, 2023, approved dividend of NOK 0.6 per share will be distributed as a repayment of paid-in capital. The dividend will be paid to the shareholders as of 29 September 2023 (shareholders as registered in VPS on 3 October 2023), ex-date 2 October 2023. The dividend payment is expected to occur on or around 10 October 2023. Upcoming Dividend • Sep 25
Upcoming dividend of kr0.60 per share at 1.1% yield Eligible shareholders must have bought the stock before 02 October 2023. Payment date: 10 October 2023. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (2.8%). Aankondiging • Sep 15
Cambi Asa Proposes Dividend, Payable on 10 October 2023 Cambi ASA proposed dividend payment of NOK 0.60 per share. The proposed dividend is subject to approval by an Extraordinary General Meeting. Ex-date: 2 October 2023, Record date: 3 October 2023, Payment date: 10 October 2023, Date of approval: 29 September 2023. Reported Earnings • Aug 23
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr237.9m (up 127% from 2Q 2022). Net income: kr52.9m (up kr61.6m from 2Q 2022). Profit margin: 22% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in Germany. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €1.24, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 10x in the Machinery industry in Germany. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €1.60, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Machinery industry in Germany. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €1.60, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 12x in the Machinery industry in Germany. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €1.39, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 12x in the Machinery industry in Germany. Board Change • Jun 16
No independent directors There are 7 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: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Board Member Birgitte Sandvold is the most experienced director on the board, commencing their role in 2015. 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. Aankondiging • Jun 01
Cambi ASA Establishes an Advisory Board and Appoints to It Three Experienced Water Sector Professionals to Guide Future Strategic Growth Cambi ASA announced the establishment of an advisory board to guide its strategic decisions and future growth. The advisory board will at the outset consist of three esteemed members: Cindy Wallis-Lage, Glen Thomas Daigger, and Jean-Michel Herrewyn. Cindy Wallis-Lage is a recognised thought leader in the global water industry, having advised public and private entities successfully develop, enhance and manage their wastewater and biosolids infrastructure and practices. She has held various leadership positions at Black and Veatch, including that of president of the company's global water business. With her deep knowledge of the water industry and her experience as a business leader, Mrs. Wallis-Lage will bring a wealth of insight to Cambi's advisory board. Glen Thomas Daigger is widely recognised as a leader in the field of wastewater treatment and served as board director for Cambi from 2015 to 2023. He is a professor of engineering practice at the University of Michigan and has published numerous articles and books on the subject. With over 40 years of experience in the industry and an outstanding global professional network, professor Daigger brings valuable knowledge and expertise to Cambi's advisory board. Jean-Michel Herrewyn is a seasoned executive with more than 30 years of experience in the water and wastewater treatment industry. He has advised public and private customers, operators, tech companies and infrastructure funds on investment opportunities in the water-related sectors. Mr. Herrewyn has held executive positions at several major companies, including Veolia Water Technologies. His extensive experience in international business and strategic planning will inform to Cambi's future growth. Aankondiging • Jul 07
Cambi ASA Appoints Mats Tristan Tjemsl as Chief Financial Officer, Effective November 01, 2022 Mats Tristan Tjemsl and has been appointed as the new Chief Financial Officer of Cambi ASA, assuming the position on 1 November 2022. Tjemsland is currently the VP of Corporate Controlling & Analytics in Aker BioMarine ASA, a global biotechnology company, where he has held various positions since 2015. He brings experience in finance, analytics, business development, strategy, and M&A. Mr. Tjemsland holds an MSc in Economics and Business Administration from the Norwegian School of Economics and an MSc in Management from the University of Mannheim. Reported Earnings • May 25
First quarter 2022 earnings released: kr0.13 loss per share (vs kr0.011 loss in 1Q 2021) First quarter 2022 results: kr0.13 loss per share (down from kr0.011 loss in 1Q 2021). Revenue: kr69.1m (down 36% from 1Q 2021). Net loss: kr21.2m (loss widened kr19.4m from 1Q 2021). Over the next year, revenue is forecast to grow 19%, compared to a 11% growth forecast for the industry in Germany. Board Change • May 18
High number of new directors Chair of the Board Per Lillebo was the last director to join the board, commencing their role in 2022. 
