Announcement • May 12
Nilörngruppen AB (publ) Appoints Per H. Danielsen as Director Nilörngruppen AB (publ) at its AGM held on May 11, 2026, elected as new director Per H. Danielsen. Announcement • May 06
Trimco Group (UK) Limited proposed to acquire Nilörngruppen AB (publ) (OM:NIL B) from AB Traction (OM:TRAC B), Protector Forsikring ASA (OB:PROT), Kavaljer Fonder, Krister Magnusson, and others for approximately SEK 880 million. Trimco Group (UK) Limited proposed to acquire Nilörngruppen AB (publ) (OM:NIL B) from AB Traction (OM:TRAC B), Protector Forsikring ASA (OB:PROT), Kavaljer Fonder, Krister Magnusson, and others for approximately SEK 880 million on May 4, 2026. Under the Offer, Trimco offers SEK 77 in cash for each class A and class B share in Nilörngruppen, corresponding to a total equity value of approximately SEK 878 million.
The Board of Directors unanimously recommends that the shareholders of Nilörngruppen accept the offer. The transaction is subject to approval by regulatory board / committee. The completion of the Offer is conditional on customary conditions, e.g. that the Offeror becomes the owner of more than 90% of the total number of shares. The acceptance period for the Offer is expected to commence around June 19, 2026, and end around July 10, 2026, subject to any extensions.
KANTER Advokatbyrå KB acted as legal advisor for Nilörngruppen AB. Stockholm Corporate Finance AB acted as fairness opinion provider for Nilörngruppen AB. DNB Carnegie Investment Bank AB acted as financial advisor for Trimco Group (UK) Limited. Roschier Advokatbyrå Ab acted as legal advisor for Trimco Group (UK) Limited. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor for Trimco Group (UK) Limited. Announcement • Feb 13
Nilörngruppen AB, Annual General Meeting, May 12, 2026 Nilörngruppen AB, Annual General Meeting, May 12, 2026. Announcement • Oct 24
Nilörngruppen AB to Report Q1, 2026 Results on Apr 24, 2026 Nilörngruppen AB announced that they will report Q1, 2026 results on Apr 24, 2026 Announcement • May 15
Nilörngruppen AB Approves Dividend, Payable on 21 May 2025 Nilörngruppen AB at the Annual General Meeting of Nilörngruppen AB held 14 May 2025, Dividend to shareholders was decided to be paid at SEK 1.50 per share (total SEK 17.1 million) in accordance with the Board's proposal. The record date for the right to receive dividends was set for 16 May 2025 and a dividend to shareholders is expected to be paid on 21 May 2025. Announcement • Mar 12
Nilörngruppen AB to Report Q1, 2025 Results on Apr 24, 2025 Nilörngruppen AB announced that they will report Q1, 2025 results on Apr 24, 2025 Announcement • Feb 26
Nilörngruppen AB announces Annual dividend, payable on May 21, 2025 Nilörngruppen AB announced Annual dividend of SEK 1.5000 per share payable on May 21, 2025, ex-date on May 15, 2025 and record date on May 16, 2025. Announcement • Feb 12
Nilörngruppen AB, Annual General Meeting, May 14, 2025 Nilörngruppen AB, Annual General Meeting, May 14, 2025. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: kr0.85 (vs kr1.17 in 3Q 2023) Third quarter 2024 results: EPS: kr0.85 (down from kr1.17 in 3Q 2023). Revenue: kr208.4m (down 2.9% from 3Q 2023). Net income: kr9.75m (down 27% from 3Q 2023). Profit margin: 4.7% (down from 6.2% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 17
Second quarter 2024 earnings released: EPS: kr1.64 (vs kr0.81 in 2Q 2023) Second quarter 2024 results: EPS: kr1.64 (up from kr0.81 in 2Q 2023). Revenue: kr262.0m (up 14% from 2Q 2023). Net income: kr18.7m (up 104% from 2Q 2023). Profit margin: 7.2% (up from 4.0% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 08
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 15 May 2024. Payment date: 21 May 2024. Payout ratio is a comfortable 25% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (0.7%). Reported Earnings • Apr 17
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr242.3m (up 9.5% from 1Q 2023). Net income: kr16.7m (up 50% from 1Q 2023). Profit margin: 6.9% (up from 5.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Luxury industry in Europe. Announcement • Mar 15
Nilörngruppen AB to Report Fiscal Year 2023 Results on Apr 23, 2024 Nilörngruppen AB announced that they will report fiscal year 2023 results on Apr 23, 2024 Declared Dividend • Feb 19
Dividend of kr1.00 announced Shareholders will receive a dividend of kr1.00. Ex-date: 15th May 2024 Payment date: 21st May 2024 Dividend yield will be 18%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 76% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: kr3.45 (vs kr8.86 in FY 2022) Full year 2023 results: EPS: kr3.45 (down from kr8.86 in FY 2022). Revenue: kr869.8m (down 8.3% from FY 2022). Net income: kr39.4m (down 61% from FY 2022). Profit margin: 4.5% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Announcement • Feb 10
Nilörngruppen AB Proposes Dividend for the Year 2023 Nilörngruppen AB announced that the board has decided to propose to the annual general meeting a dividend of SEK 1.00 per share compared to SEK 5.00 per share paid a year ago equivalent to SEK 11.4 million compared to SEK 57.0 million. Reported Earnings • Oct 26
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr214.7m (down 7.5% from 3Q 2022). Net income: kr13.4m (down 52% from 3Q 2022). Profit margin: 6.2% (down from 12% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe. New Risk • Jul 17
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 99% The company is paying a dividend despite having no free cash flows. Dividend yield: 9.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Paying a dividend despite having no free cash flows. High level of non-cash earnings (24% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (6.5% net profit margin). Market cap is less than US$100m (€55.5m market cap, or US$62.4m). New Risk • Jul 16
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: 6.5% Last year net profit margin: 12% 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. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (6.5% net profit margin). Market cap is less than US$100m (€55.5m market cap, or US$62.3m). Reported Earnings • Jul 14
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr230.2m (down 14% from 2Q 2022). Net income: kr9.20m (down 74% from 2Q 2022). Profit margin: 4.0% (down from 13% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Luxury industry in Germany. Announcement • Jun 13
Nilörngruppen AB Expands Its Management Team Nilörngruppen AB announced that it is expanding its management team by including Fredrik Clason and Anna-Karin Wårfors. Fredrik, who has been employed by Nilörn since 2007, is the Head of Marketing and Sales with a deep understanding of customers' needs. Anna-Karin Wårfors has successfully led Nilörn's sustainability efforts since 2017 and, together with global team, focuses on a more sustainable offering to clients and ESG reporting.Nilörn's formal management team has consisted of the Asia Manager, Andrew Hoppe, and CEO, Krister Magnusson, in recent years. Parallel to the management team, the company have advisory committees. By including Fredrik and Anna-Karin, company have strengthened the management team and created a broader knowledge base to meet future challenges and opportunities. Announcement • May 05
Nilörngruppen AB Approves Dividend, Payable on 10 May 2023 Nilörngruppen AB announced that at the Annual General Meeting held on May 3, 2023 approved dividend of SEK 5.00 per share (total SEK 57.0 million) in accordance with the Board's proposal. The record date for the right to receive dividends was set for 5 May 2023 and a dividend to shareholders is expected to be paid on 10 May 2023. Upcoming Dividend • Apr 27
Upcoming dividend of kr5.00 per share at 7.1% yield Eligible shareholders must have bought the stock before 04 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 7.1%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (0.8%). Reported Earnings • Apr 15
Full year 2022 earnings released: EPS: kr8.86 (vs kr7.67 in FY 2021) Full year 2022 results: EPS: kr8.86 (up from kr7.67 in FY 2021). Revenue: kr948.3m (up 20% from FY 2021). Net income: kr101.0m (up 16% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 6.0% growth forecast for the Luxury industry in Germany. Reported Earnings • Feb 10
Full year 2022 earnings released: EPS: kr8.86 (vs kr7.67 in FY 2021) Full year 2022 results: EPS: kr8.86 (up from kr7.67 in FY 2021). Revenue: kr942.8m (up 19% from FY 2021). Net income: kr101.0m (up 16% from FY 2021). Profit margin: 11% (in line with FY 2021). Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Luxury industry in Germany. Announcement • Feb 09
Nilörngruppen AB Proposes Dividend The Board of Directors of Nilörngruppen AB has decided to propose to the Annual General Meeting a dividend of SEK 5.00 (5.00) per share, equivalent to MSEK 57.0 (57.0). Buying Opportunity • Feb 01
Now 20% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be €9.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 40%. Revenue is forecast to grow by 5.9% in 2 years. Earnings is forecast to decline by 21% in the next 2 years. Announcement • Dec 15
Nilörngruppen AB (OM:NIL B), Liana Zanin and Ayse Peter agreed to acquire Bally Labels AG from Martin Bally. Nilörngruppen AB (OM:NIL B), Liana Zanin and Ayse Peter agreed to acquire Bally Labels AG from Martin Bally on December 13, 2022. Liana Zanin and Ayse Peter will own 10 percent each. The purchase price, which not is communicated, is conditional to certain external sales and will be paid in three instalments over three years. The acquisition will be effective from December 31, 2022. Board Change • Nov 16
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. 3 non-independent directors. Independent Director Henrik Lange 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 • Oct 27
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr232.0m (up 14% from 3Q 2021). Net income: kr28.0m (up 35% from 3Q 2021). Profit margin: 12% (up from 10% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Germany. Reported Earnings • Jul 16
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr269.1m (up 54% from 2Q 2021). Net income: kr36.0m (up 115% from 2Q 2021). Profit margin: 13% (up from 9.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 2.6% compared to a 14% growth forecast for the industry in Germany. Board Change • May 14
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. 3 non-independent directors. Independent Director Henrik Lange 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 • Apr 27
First quarter 2022 earnings released: EPS: kr2.45 (vs kr1.72 in 1Q 2021) First quarter 2022 results: EPS: kr2.45 (up from kr1.72 in 1Q 2021). Revenue: kr242.3m (up 38% from 1Q 2021). Net income: kr27.9m (up 42% from 1Q 2021). Profit margin: 12% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 3.3%, compared to a 13% growth forecast for the industry in Germany. Upcoming Dividend • Apr 27
Upcoming dividend of kr5.00 per share Eligible shareholders must have bought the stock before 04 May 2022. Payment date: 10 May 2022. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of German dividend payers (4.0%). Higher than average of industry peers (1.6%). Reported Earnings • Apr 17
Full year 2021 earnings released: EPS: kr7.67 (vs kr2.94 in FY 2020) Full year 2021 results: EPS: kr7.67 (up from kr2.94 in FY 2020). Revenue: kr790.2m (up 28% from FY 2020). Net income: kr87.4m (up 161% from FY 2020). Profit margin: 11% (up from 5.4% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 13% growth forecast for the industry in Germany. Reported Earnings • Feb 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr7.67 (up from kr2.94 in FY 2020). Revenue: kr788.3m (up 27% from FY 2020). Net income: kr87.4m (up 161% from FY 2020). Profit margin: 11% (up from 5.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.0%. Over the next year, revenue is forecast to grow 2.1%, compared to a 5.1% growth forecast for the industry in Germany. Reported Earnings • Oct 23
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: kr203.4m (up 38% from 3Q 2020). Net income: kr20.8m (up 44% from 3Q 2020). Profit margin: 10% (in line with 3Q 2020). Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to kr7.26, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 27x in the Luxury industry in Europe. Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS kr1.47 (vs kr0.11 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr175.2m (up 23% from 2Q 2020). Net income: kr16.7m (up kr18.0m from 2Q 2020). Profit margin: 9.5% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Announcement • May 11
Nilörngruppen AB Declares Dividend, Payable on 18 May 2021 Nilörngruppen AB, at its AGM held on May 10, 2021, decided to pay to shareholders dividend of SEK 2.00 per share in accordance with the Board's proposal. The record date for the right to receive dividends was set for 12 May 2021 and a dividend to shareholders is expected to be paid on 18 May 2021. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS kr2.94 (vs kr4.14 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr618.2m (down 14% from FY 2019). Net income: kr33.5m (down 29% from FY 2019). Profit margin: 5.4% (down from 6.6% in FY 2019). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 23% share price gain to kr7.07, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 29x in the Luxury industry in Europe. Announcement • Apr 16
Nilörngruppen AB Provides Earnings Guidance for the First Quarter 2021 Nilörngruppen AB provided earnings guidance for the first quarter 2021. For the quarter, the Group's sales are estimated at SEK 175 million. Operating result is expected to SEK 27 million. Reported Earnings • Feb 16
Full year 2020 earnings released: EPS kr2.94 (vs kr4.14 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr618.2m (down 14% from FY 2019). Net income: kr33.5m (down 29% from FY 2019). Profit margin: 5.4% (down from 6.6% in FY 2019). The decrease in margin was driven by lower revenue. Analyst Estimate Surprise Post Earnings • Feb 16
Revenue beats expectations Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is forecast to grow 6.6%, compared to a 9.8% growth forecast for the Luxury industry in Germany.