New Risk • 2h
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.8% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. New Risk • Apr 28
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). High level of non-cash earnings (26% accrual ratio). Reported Earnings • Apr 27
Full year 2025 earnings released: EPS: kr0.93 (vs kr1.13 in FY 2024) Full year 2025 results: EPS: kr0.93 (down from kr1.13 in FY 2024). Revenue: kr785.1m (up 3.4% from FY 2024). Net income: kr68.2m (down 18% from FY 2024). Profit margin: 8.7% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. New Risk • Feb 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 26% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risk High level of debt (42% net debt to equity). Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: kr0.93 (vs kr1.13 in FY 2024) Full year 2025 results: EPS: kr0.93 (down from kr1.13 in FY 2024). Revenue: kr785.1m (up 3.4% from FY 2024). Net income: kr68.2m (down 18% from FY 2024). Profit margin: 8.7% (down from 11% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Aankondiging • Dec 17
Eidesvik Offshore ASA, Annual General Meeting, May 20, 2026 Eidesvik Offshore ASA, Annual General Meeting, May 20, 2026. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: kr0.43 (vs kr0.40 in 3Q 2024) Third quarter 2025 results: EPS: kr0.43 (up from kr0.40 in 3Q 2024). Revenue: kr204.6m (down 1.2% from 3Q 2024). Net income: kr31.3m (up 6.2% from 3Q 2024). Profit margin: 15% (up from 14% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Aug 27
Second quarter 2025 earnings released: EPS: kr0.26 (vs kr0.36 in 2Q 2024) Second quarter 2025 results: EPS: kr0.26 (down from kr0.36 in 2Q 2024). Revenue: kr198.5m (up 6.7% from 2Q 2024). Net income: kr19.0m (down 28% from 2Q 2024). Profit margin: 9.6% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Aankondiging • Jul 02
Eidesvik Offshore ASA Announces Changes to the Board of Directors The employees of the Eidesvik Offshore ASA group of companies have elected new employee representatives as board member and substitute member to the Board . Tore Hettervik has replaced Børre Lindanger as board member, and Ole Severin Meling has replaced Tore Hettervik as substitute member. Tore Hettervik and Ole Severin Meling have been elected for one year. Board Change • May 21
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Deputy Chairman of the Board Lauritz Eidesvik is the most experienced director on the board, commencing their role in 2018. Independent Director Annicken Kildahl was the last independent 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: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Aankondiging • May 20
Eidesvik Offshore Asa Announces Board and Committee Appointments Eidesvik Offshore ASA at AGM held on May 20, 2025 approved Kenneth Walland, chair of the board - for 2 years. The nomination committee is reduced to three members and consist of: kristine Klaveness (Chair) - for 1 year. Signe Lund Jansen - for 2 years. Eivind Eidesvik - for 2 years. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: kr0.20 (vs kr0.12 in 1Q 2024) First quarter 2025 results: EPS: kr0.20 (up from kr0.12 in 1Q 2024). Revenue: kr198.8m (up 11% from 1Q 2024). Net income: kr14.4m (up 65% from 1Q 2024). Profit margin: 7.2% (up from 4.9% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Apr 13
Full year 2024 earnings released: EPS: kr1.13 (vs kr7.05 in FY 2023) Full year 2024 results: EPS: kr1.13 (down from kr7.05 in FY 2023). Revenue: kr759.4m (up 8.6% from FY 2023). Net income: kr82.7m (down 84% from FY 2023). Profit margin: 11% (down from 74% in FY 2023). Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Feb 19
Full year 2024 earnings released: EPS: kr1.13 (vs kr7.05 in FY 2023) Full year 2024 results: EPS: kr1.13 (down from kr7.05 in FY 2023). Revenue: kr775.1m (up 11% from FY 2023). Net income: kr82.7m (down 84% from FY 2023). Profit margin: 11% (down from 74% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Dec 16
Eidesvik Offshore ASA, Annual General Meeting, May 20, 2025 Eidesvik Offshore ASA, Annual General Meeting, May 20, 2025. Aankondiging • Nov 28
Eidesvik Offshore ASA Appoints Helga Cotgrove as CEO The Board of Eidesvik Offshore ASA announced that current interim CEO Helga Cotgrove on 28 November 2024 will take the role as CEO of the company. Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: kr0.40 (vs kr0.58 in 3Q 2023) Third quarter 2024 results: EPS: kr0.40 (down from kr0.58 in 3Q 2023). Revenue: kr207.1m (up 5.9% from 3Q 2023). Net income: kr29.5m (down 31% from 3Q 2023). Profit margin: 14% (down from 22% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 30
Now 27% overvalued Over the last 90 days, the stock has fallen 25% to kr14.38. The fair value is estimated to be kr11.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Sep 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr1.05b (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (23% net profit margin). Market cap is less than US$100m (kr1.05b market cap, or US$99.1m). Aankondiging • Sep 11
Eidesvik Offshore ASA Announces Resignation of Gitte Gard Talmo as CEO Eidesvik Offshore ASA announced that Gitte Gard Talmo has resigned as CEO of EIOF to take on a new position in an international company abroad. Gard Talmo has been with the company for 22 years and has been CEO of EIOF since 1 January 2022. Gitte Gard Talmo will continue in her position as CEO for the time being, while the board of Eidesvik Offshore ASA will initiate a search for her replacement as CEO. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: kr0.36 (vs kr5.55 in 2Q 2023) Second quarter 2024 results: EPS: kr0.36 (down from kr5.55 in 2Q 2023). Revenue: kr197.8m (up 7.3% from 2Q 2023). Net income: kr26.4m (down 94% from 2Q 2023). Profit margin: 13% (down from 220% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 66% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr18.00, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 14x in the Energy Services industry in Norway. Total returns to shareholders of 390% over the past three years. Aankondiging • Jun 28
Eidesvik Offshore ASA Announces Changes to the Board of Directors Eidesvik Offshore ASA have elected new employee representatives as board member and substitute member to the Board. Børre Lindanger has replaced Petter Lønning as board member, and Tore Hettervik has replaced Børre Lindanger as substitute member. Børre Lindanger and Tore Hettervik have been elected for one year. Aankondiging • May 31
Eidesvik Offshore ASA Approves Dividend Eidesvik Offshore ASA at the annual general meeting held on 30 May 2024, approved dividend of NOK 0.25 per share. Upcoming Dividend • May 24
Upcoming dividend of kr0.25 per share Eligible shareholders must have bought the stock before 31 May 2024. Payment date: 10 June 2024. Trailing yield: 1.5%. Lower than top quartile of Norwegian dividend payers (7.9%). Lower than average of industry peers (4.1%). Reported Earnings • May 23
First quarter 2024 earnings released: EPS: kr0.12 (vs kr0.39 loss in 1Q 2023) First quarter 2024 results: EPS: kr0.12 (up from kr0.39 loss in 1Q 2023). Revenue: kr183.4m (up 42% from 1Q 2023). Net income: kr8.71m (up kr33.2m from 1Q 2023). Profit margin: 4.8% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 62% per year, which means it is significantly lagging earnings growth. Aankondiging • Apr 26
Eidesvik Offshore ASA Proposes Cash Dividend for the Financial Year 2023, Payable on June 10, 2024 The Board of Directors of Eidesvik Offshore ASA have decided to propose to the General Meeting a dividend of NOK 0.25 per share on the basis of the company's financial statements for the financial year 2023. Ex-date: 31 May 2024, Record date: 3 June 2024, Payment date: 10 June 2024. The proposed distribution of the cash dividend is subject to approval by the AGM to be held on 30 May 2024. Reported Earnings • Feb 22
Full year 2023 earnings released: EPS: kr7.10 (vs kr5.57 in FY 2022) Full year 2023 results: EPS: kr7.10 (up from kr5.57 in FY 2022). Revenue: kr772.4m (up 22% from FY 2022). Net income: kr518.4m (up 50% from FY 2022). Profit margin: 67% (up from 55% in FY 2022). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Nov 29
President & CEO recently bought kr100k worth of stock On the 23rd of November, Gitte Talmo bought around 7k shares on-market at roughly kr13.87 per share. This transaction increased Gitte's direct individual holding by 14x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Gitte's only on-market trade for the last 12 months. Reported Earnings • Nov 23
Third quarter 2023 earnings released: EPS: kr0.58 (vs kr2.81 in 3Q 2022) Third quarter 2023 results: EPS: kr0.58 (down from kr2.81 in 3Q 2022). Revenue: kr204.6m (up 9.7% from 3Q 2022). Net income: kr42.4m (down 76% from 3Q 2022). Profit margin: 21% (down from 94% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 128% per year but the company’s share price has only increased by 75% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: kr5.55 (vs kr1.28 loss in 2Q 2022) Second quarter 2023 results: EPS: kr5.55 (up from kr1.28 loss in 2Q 2022). Revenue: kr240.5m (up 33% from 2Q 2022). Net income: kr404.9m (up kr484.4m from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 134% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 07
Eidesvik Offshore ASA Announces Changes to the Board of Directors The employees of the Eidesvik Offshore ASA group of companies have elected new employee represtatives as board member and susubstitute member to the Board of Eidesvik Offshore ASA. Petter Lønning has replaced Johnny Olson as board member, and Børre Lindanger has replaced Petter Lønning as substitute member. PetterLønning and Børre Lindanger have been elected for one year. Aankondiging • Jun 02
An unknown buyer entered into agreement to acquire Non-Strategic Assets from Eidesvik Offshore ASA (OB:EIOF). An unknown buyer entered into agreement to acquire Non-Strategic Assets from Eidesvik Offshore ASA (OB:EIOF) on June 1, 2023. The transaction is expected to close during this summer. Reported Earnings • May 25
First quarter 2023 earnings released: kr0.39 loss per share (vs kr0.74 loss in 1Q 2022) First quarter 2023 results: kr0.39 loss per share (improved from kr0.74 loss in 1Q 2022). Revenue: kr133.5m (down 7.2% from 1Q 2022). Net loss: kr24.5m (loss narrowed 47% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr13.64, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 14x in the Energy Services industry in Norway. Total returns to shareholders of 269% over the past three years. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr15.40, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 8x in the Energy Services industry in Norway. Total returns to shareholders of 194% over the past three years. Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: kr5.57 (vs kr0.25 loss in FY 2021) Full year 2022 results: EPS: kr5.57 (up from kr0.25 loss in FY 2021). Revenue: kr918.5m (up 61% from FY 2021). Net income: kr346.1m (up kr361.8m from FY 2021). Profit margin: 38% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improved over the past week After last week's 22% share price gain to kr11.50, the stock trades at a trailing P/E ratio of 3.4x. Average trailing P/E is 9x in the Energy Services industry in Norway. Total returns to shareholders of 105% over the past three years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: kr2.81 (vs kr0.54 loss in 3Q 2021) Third quarter 2022 results: EPS: kr2.81 (up from kr0.54 loss in 3Q 2021). Revenue: kr190.4m (up 14% from 3Q 2021). Net income: kr174.3m (up kr208.0m from 3Q 2021). Profit margin: 92% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Bjorg Eknes was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 01
Second quarter 2022 earnings released: kr1.28 loss per share (vs kr0.36 loss in 2Q 2021) Second quarter 2022 results: kr1.28 loss per share (down from kr0.36 loss in 2Q 2021). Revenue: kr185.1m (up 20% from 2Q 2021). Net loss: kr79.5m (loss widened 253% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Aug 31
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be kr10.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 21% share price decline to kr9.79, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 9x in the Energy Services industry in Norway. Total returns to shareholders of 83% over the past three years. Valuation Update With 7 Day Price Move • May 26
Investor sentiment deteriorated over the past week After last week's 21% share price decline to kr9.22, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 10x in the Energy Services industry in Norway. Total returns to shareholders of 49% over the past three years. Reported Earnings • May 21
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: kr0.21 loss per share (up from kr1.45 loss in 1Q 2021). Revenue: kr109.1m (flat on 1Q 2021). Net loss: kr13.1m (loss narrowed 86% from 1Q 2021). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) missed analyst estimates by 18%. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Kristine Skeie was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 26
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: kr0.25 loss per share (up from kr1.99 loss in FY 2020). Revenue: kr587.8m (up 15% from FY 2020). Net loss: kr15.7m (loss narrowed 87% from FY 2020). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 18
Third quarter 2021 earnings released: kr0.54 loss per share (vs kr0.30 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: kr174.8m (up 23% from 3Q 2020). Net loss: kr33.6m (down 280% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 01
Second quarter 2021 earnings released: kr0.36 loss per share (vs kr0.44 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: kr157.6m (up 15% from 2Q 2020). Net loss: kr22.5m (down 182% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Executive Departure • Jun 04
Independent Director Synne Syrrist has left the company On the 26th of May, Synne Syrrist's tenure as Independent Director ended. We don't have any record of a personal shareholding under Synne's name. Synne is the only executive to leave the company over the last 12 months. Reported Earnings • May 23
First quarter 2021 earnings released: kr1.45 loss per share (vs kr2.03 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: kr109.6m (down 16% from 1Q 2020). Net loss: kr90.1m (loss narrowed 29% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 28
Full year 2020 earnings released: kr1.99 loss per share (vs kr9.64 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: kr530.8m (down 16% from FY 2019). Net loss: kr123.6m (loss narrowed 79% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 12
New 90-day high: kr3.98 The company is up 33% from its price of kr3.00 on 14 October 2020. The Norwegian market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Energy Services industry, which is up 36% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: kr3.10 The company is up 3.0% from its price of kr3.00 on 01 September 2020. The Norwegian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is up 22% over the same period. Reported Earnings • Nov 19
Third quarter 2020 earnings released: EPS kr0.30 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: kr142.7m (down 17% from 3Q 2019). Net income: kr18.7m (up kr93.3m from 3Q 2019). Profit margin: 13% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Sep 26
New 90-day low: kr2.50 The company is down 26% from its price of kr3.36 on 26 June 2020. The Norwegian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is down 2.0% over the same period.