Announcement • Jan 14
Magseis Fairfield ASA to Report Fiscal Year 2022 Results on Apr 28, 2023 Magseis Fairfield ASA announced that they will report fiscal year 2022 results on Apr 28, 2023 Announcement • Jan 12
Oslo Børs Decides to Delist the Shares in Magseis Fairfield Asa Oslo Børs has decided to delist the shares in Magseis Fairfield ASA from listing on Oslo Børs and has made the following decision: "The shares in Magseis Fairfield ASA will be delisted from the Oslo Stock Exchange from and including January 12, 2023. Last day of listing will be January 11, 2023". Announcement • Dec 21
Magseis Fairfield ASA to Report Q4, 2022 Results on Feb 09, 2023 Magseis Fairfield ASA announced that they will report Q4, 2022 results at 12:00 PM, Central European Standard Time on Feb 09, 2023 Board Change • Nov 16
No independent directors There are 6 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: 6 new directors. No experienced directors. No highly experienced directors. No independent directors (6 non-independent directors). Director Yves Chiffoleau is the most experienced director on the board, commencing their role in 2022. 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 02
Third quarter 2022 earnings released: US$0.03 loss per share (vs US$0.002 profit in 3Q 2021) Third quarter 2022 results: US$0.03 loss per share (down from US$0.002 profit in 3Q 2021). Revenue: US$99.3m (up 18% from 3Q 2021). Net loss: US$8.83m (down US$9.44m from profit in 3Q 2021). Revenue is expected to decline by 4.4% p.a. on average during the next 2 years, while revenues in the Energy Services industry in Europe are expected to grow by 6.9%. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 26
Second quarter 2022 earnings released: US$0.01 loss per share (vs US$0.007 loss in 2Q 2021) Second quarter 2022 results: US$0.01 loss per share (down from US$0.007 loss in 2Q 2021). Revenue: US$103.3m (up 76% from 2Q 2021). Net loss: US$3.96m (loss widened 110% from 2Q 2021). Over the next year, revenue is forecast to grow 6.3%, compared to a 14% growth forecast for the Energy Services industry in Germany. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • May 11
First quarter 2022 earnings released: US$0.05 loss per share (vs US$0.06 loss in 1Q 2021) First quarter 2022 results: US$0.05 loss per share (up from US$0.06 loss in 1Q 2021). Revenue: US$75.2m (up 76% from 1Q 2021). Net loss: US$12.2m (loss narrowed 23% from 1Q 2021). Over the next year, revenue is forecast to grow 25%, compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Angela Durkin is the most experienced director on the board, commencing their role in 2019. Independent Chairman of the Board Wenche Kjolas was the last independent director to join the board, commencing their role in 2019. 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. Board Change • Apr 20
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Angela Durkin is the most experienced director on the board, commencing their role in 2019. Independent Chairman of the Board Wenche Kjolas was the last independent director to join the board, commencing their role in 2019. 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. Reported Earnings • Feb 16
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$0.12 loss per share (down from US$0.078 loss in FY 2020). Revenue: US$258.1m (up 34% from FY 2020). Net loss: US$32.3m (loss widened 64% from FY 2020). Revenue missed analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 44%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS US$0.001 (vs US$0.013 in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$84.3m (up 80% from 3Q 2020). Net income: US$609.0k (down 80% from 3Q 2020). Profit margin: 0.7% (down from 6.5% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Breakeven Date Change • Oct 02
Forecast to breakeven in 2022 The analyst covering Magseis Fairfield expects the company to break even for the first time. New forecast suggests the company will make a profit of US$3.87m in 2022. Average annual earnings growth of 93% is required to achieve expected profit on schedule. Reported Earnings • Aug 25
Second quarter 2021 earnings released: US$0.01 loss per share (vs US$0.012 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$58.8m (up 31% from 2Q 2020). Net loss: US$1.88m (loss narrowed 35% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 05
First quarter 2021 earnings released: US$0.06 loss per share (vs US$0.06 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$42.9m (down 20% from 1Q 2020). Net loss: US$15.9m (loss widened 32% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 40% per year, which means it has not declined as severely as earnings. Executive Departure • Apr 10
Co-Founder & Executive Director Jan Gateman has left the company On the 7th of April, Jan Gateman's tenure in the role of Co-Founder & Executive Director ended. We don't have any record of a personal shareholding under Jan's name. A total of 5 executives have left over the last 12 months. Recent Insider Transactions • Mar 28
Independent Chairman of the Board recently bought €102k worth of stock On the 26th of March, Wenche Kjolas bought around 75k shares on-market at roughly €1.36 per share. This was the largest purchase by an insider in the last 3 months. This was Wenche's only on-market trade for the last 12 months. Reported Earnings • Mar 15
Full year 2020 earnings released: US$0.08 loss per share (vs US$0.82 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: US$193.4m (down 58% from FY 2019). Net loss: US$19.7m (loss narrowed 87% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 72% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 18
New 90-day high: €0.55 The company is up 174% from its price of €0.20 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 17% over the same period. Reported Earnings • Feb 18
Full year 2020 earnings released: US$0.08 loss per share (vs US$0.82 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: US$193.4m (down 58% from FY 2019). Net loss: US$19.7m (loss narrowed 87% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 72% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 18
Revenue misses expectations Revenue missed analyst estimates by 40%. Over the next year, revenue is forecast to grow 79% compared to a 5.0% decline forecast for the Energy Services industry in Germany. Is New 90 Day High Low • Feb 03
New 90-day high: €0.39 The company is up 278% from its price of €0.10 on 05 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 30% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: €0.38 The company is up 300% from its price of €0.094 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 40% over the same period. Is New 90 Day High Low • Dec 19
New 90-day high: €0.36 The company is up 272% from its price of €0.097 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 29% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: €0.30 The company is up 192% from its price of €0.10 on 26 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 15% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: €0.21 The company is up 98% from its price of €0.11 on 21 August 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Energy Services industry, which is up 14% over the same period. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue beats expectations Revenue exceeded analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 55% compared to a 9.5% decline forecast for the Energy Services industry in Germany. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS US$0.01 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$46.9m (down 65% from 3Q 2019). Net income: US$3.07m (up US$107.2m from 3Q 2019). Profit margin: 6.5% (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 100% per year but the company’s share price has only fallen by 59% per year, which means it has not declined as severely as earnings. 