Minesto Management

Management criteria checks 2/4

Minesto's CEO is Martin Edlund, appointed in Feb 2016, has a tenure of 8.75 years. total yearly compensation is SEK2.48M, comprised of 100% salary and 0% bonuses, including company stock and options. directly owns 0.075% of the company’s shares, worth €32.21K. The average tenure of the management team and the board of directors is 1.4 years and 14.8 years respectively.

Key information

Martin Edlund

Chief executive officer

SEK 2.5m

Total compensation

CEO salary percentage	100.0%
CEO tenure	8.8yrs
CEO ownership	0.07%
Management average tenure	1.4yrs
Board average tenure	14.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Martin Edlund's remuneration changed compared to Minesto's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-SEK 43m
Jun 30 2024	n/a	n/a	-SEK 40m
Mar 31 2024	n/a	n/a	-SEK 33m
Dec 31 2023	SEK 2m	SEK 2m	-SEK 27m
Sep 30 2023	n/a	n/a	-SEK 89m
Jun 30 2023	n/a	n/a	-SEK 86m
Mar 31 2023	n/a	n/a	-SEK 86m
Dec 31 2022	SEK 2m	SEK 2m	-SEK 84m
Sep 30 2022	n/a	n/a	-SEK 17m
Jun 30 2022	n/a	n/a	-SEK 16m
Mar 31 2022	n/a	n/a	-SEK 16m
Dec 31 2021	SEK 2m	SEK 2m	-SEK 15m
Sep 30 2021	n/a	n/a	-SEK 13m
Jun 30 2021	n/a	n/a	-SEK 13m
Mar 31 2021	n/a	n/a	-SEK 14m
Dec 31 2020	SEK 2m	SEK 2m	-SEK 13m
Sep 30 2020	n/a	n/a	-SEK 98m
Jun 30 2020	n/a	n/a	-SEK 99m
Mar 31 2020	n/a	n/a	-SEK 100m
Dec 31 2019	SEK 2m	SEK 2m	-SEK 100m
Sep 30 2019	n/a	n/a	-SEK 14m
Jun 30 2019	n/a	n/a	-SEK 14m
Mar 31 2019	n/a	n/a	-SEK 11m
Dec 31 2018	SEK 2m	SEK 2m	-SEK 11m
Sep 30 2018	n/a	n/a	-SEK 10m
Jun 30 2018	n/a	n/a	-SEK 8m
Mar 31 2018	n/a	n/a	-SEK 8m
Dec 31 2017	SEK 2m	SEK 1m	-SEK 8m

Compensation vs Market: Martin's total compensation ($USD227.09K) is below average for companies of similar size in the German market ($USD476.59K).

Compensation vs Earnings: Martin's compensation has increased whilst the company is unprofitable.

CEO

Martin Edlund (55 yo)

8.8yrs

Tenure

SEK 2,480,141

Compensation

Dr. Martin Edlund, PhD, has been the Chief Executive Officer of Minesto AB since February 14, 2016. Mr. Edlund is the Founder and Chief Executive Officer of Kebbison Innovation and is involved in venture c...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Martin Edlund	CEO & Director	8.8yrs	SEK 2.48m	0.075% € 32.2k
Gustav Kvibling	Chief Financial Officer	1.4yrs	no data	no data
Johannes Huffmeier	Chief Operations Officer	1.4yrs	no data	no data
Bernt Westre	Chief Technology Officer	7.2yrs	no data	0.0069% € 2.9k
Cecilia Sernhage	Chief Communications Officer	no data	no data	no data
Louise Marsden	Chief Personnel Officer	less than a year	no data	no data
David Collier	Chief Strategy Officer	1.4yrs	no data	0.0014% € 584.0
Hans Lindstrom	Chief Supply Chain Officer	1.4yrs	no data	no data

1.4yrs

Average Tenure

Experienced Management: 7MN's management team is not considered experienced ( 1.4 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Martin Edlund	CEO & Director	16.8yrs	SEK 2.48m	0.075% € 32.2k
Andreas Gunnarsson	Deputy Board Member	no data	no data	no data
Goran Linder	Independent Director	17.8yrs	SEK 157.50k	no data
Git Adolfsson	Independent Director	14.8yrs	SEK 157.50k	no data
Jonas Millqvist	Independent Chairman of the Board	6.8yrs	SEK 315.65k	0.00055% € 236.2
Joel Lybert	Independent Director	1.4yrs	SEK 52.50k	no data

14.8yrs

Average Tenure

58.5yo

Average Age

Experienced Board: 7MN's board of directors are seasoned and experienced ( 14.8 years average tenure).

Minesto Management

Management criteria checks 2/4

Key information

Recent management updates

Minesto Announces Retirement of Bengt Adolfsson as Member of Board

Minesto AB (publ) Announces Bengt Adolfsson Declines Re-Election as Director

Minesto AB (publ), Annual General Meeting, Apr 24, 2024

Minesto AB Elects Joel Lybert as New Board Member

Insufficient new directors

Insufficient new directors

Recent updates

Third quarter 2024 earnings released: kr0.05 loss per share (vs kr0.054 loss in 3Q 2023)

Second quarter 2024 earnings released: kr0.061 loss per share (vs kr0.026 loss in 2Q 2023)

Minesto Announces Retirement of Bengt Adolfsson as Member of Board

First quarter 2024 earnings released: kr0.07 loss per share (vs kr0.04 loss in 1Q 2023)

Minesto AB (publ) Announces Bengt Adolfsson Declines Re-Election as Director

New minor risk - Shareholder dilution

Minesto AB (publ) has completed a Composite Units Offering in the amount of SEK 100.150038 million.

Full year 2023 earnings released: kr0.17 loss per share (vs kr0.61 loss in FY 2022)

Minesto AB (publ), Annual General Meeting, Apr 24, 2024

Minesto AB (publ) Announces Dragon 12 Functionality Verified and Power Production Performance Completes Completion

The Swedish Energy Agency Awards Minesto a SEK 2.8 Million Grant to Support Development and Testing of Next Generation Mooring System

New minor risk - Market cap size

Minesto Has Successfully Executed the Launch & Recovery Method (LARS) for the First Megawatt Tidal Kite Dragon 12

Third quarter 2023 earnings released: kr0.034 loss per share (vs kr0.034 loss in 3Q 2022)

Minesto Completes Build and Functional Testing of Sea-Bed Connection System for the 1.2-Megawatt Powerplant Dragon 12

Minesto AB (publ) to Report Fiscal Year 2023 Results on Mar 21, 2024

Second quarter 2023 earnings released

Minesto AB Elects Joel Lybert as New Board Member

First quarter 2023 earnings released: kr0.04 loss per share (vs kr0.03 loss in 1Q 2022)

Full year 2022 earnings released: kr0.61 loss per share (vs kr0.11 loss in FY 2021)

Development on Minesto AB (publ)'s Dragon Class Project - New Record-Levels of Electricity Production

Insufficient new directors

Forecast to breakeven in 2023

Third quarter 2022 earnings released: kr0.034 loss per share (vs kr0.022 loss in 3Q 2021)

Minesto AB (publ) to Report Fiscal Year 2022 Final Results on Mar 23, 2023

Second quarter 2022 earnings released

Insufficient new directors

Minesto AB (publ), Annual General Meeting, Jun 08, 2022

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Insufficient new directors

Third quarter 2021 earnings released: kr0.022 loss per share (vs kr0.018 loss in 3Q 2020)

Forecast to breakeven in 2023

Minesto Launches Dragon Class Power Plants for Commercial Scale-Up

Second quarter 2021 earnings released: kr0.028 loss per share (vs kr0.033 loss in 2Q 2020)

First quarter 2021 earnings released: kr0.02 loss per share (vs kr0.02 loss in 1Q 2020)

Full year 2020 earnings released: kr0.10 loss per share (vs kr0.92 loss in FY 2019)

Minesto and Schneider Electric Join Forces to Commercialize Marine Energy

Minesto and Technia Take Design Collaboration Global with 3Dexperience

New 90-day low: €2.09

New 90-day low: €2.25

New 90-day low: €2.26

Minesto Installs and Commences Commissioning Activities of its 100kW DG100 Tidal Kite System in October

New 90-day low: €2.55

New 90-day low: €2.58

Third quarter earnings released

Earnings released

Minesto AB (publ) to Report Fiscal Year 2020 Results on Mar 18, 2021

New 90-day high - €3.26

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age