Announcement • Jun 16
Breakfast Language LLC completed the acquisition of Misen Enterprises AB from Misen Energy AB (publ) (OM:MISE). Breakfast Language LLC entered into share purchase agreement to acquire Misen Enterprises AB from Misen Energy AB (publ) (OM:MISE) for €3 million on May 2, 2024. The transaction is subject to approval of Misen Energy shareholders in Extra General Meeting which is scheduled to be held on May 28, 2024. As of May 27, 2024, The shareholders of Misen Energy invited to the extra general meeting to be held on June 12, 2024. As of June 12, 2024, At the extra general meeting of Misen Energy AB resolved to approval of sale of all shares in subsidiary Misen Enterprises AB.Breakfast Language LLC completed the acquisition of Misen Enterprises AB from Misen Energy AB (publ) (OM:MISE) on Jun 14, 2024. The Misen Energy's operational activities has been carried out in its entirety in Misen Enterprises AB. Consequently, the completion of the Transaction therefore means that there are no longer any operational activities in the Group. Misen Energy expects to inform the market and its shareholders about the Company's continued operations at the latest on the date of the Annual General Meeting which will be held on 28 June 2024. Board Change • May 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. 2 experienced directors. 2 highly experienced directors. Director Gediminas Vaikasas was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 16
Misen Energy AB (publ) to Report Fiscal Year 2023 Results on May 10, 2024 Misen Energy AB (publ) announced that they will report fiscal year 2023 results on May 10, 2024 New Risk • Mar 03
New major risk - Revenue and earnings growth Earnings have declined by 24% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-kr13m). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€6.54m market cap, or US$7.09m). Announcement • Mar 01
Misen Energy AB (publ) to Report First Half, 2024 Results on Aug 30, 2024 Misen Energy AB (publ) announced that they will report first half, 2024 results on Aug 30, 2024 New Risk • Oct 24
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.35m (US$9.90m) This is considered a major 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (10% average weekly change). Negative equity (-kr5.2m). Revenue is less than US$1m. Market cap is less than US$10m (€9.35m market cap, or US$9.90m). New Risk • Sep 03
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-kr5.2m). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (€10.6m market cap, or US$11.4m). Reported Earnings • Dec 01
Third quarter 2022 earnings released Third quarter 2022 results: Net loss: kr5.01m (down 186% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 27
First half 2022 earnings released: kr0.068 loss per share (vs kr0.24 loss in 1H 2021) First half 2022 results: kr0.068 loss per share (up from kr0.24 loss in 1H 2021). Net loss: kr9.59m (loss narrowed 72% from 1H 2021). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 03
First quarter 2022 earnings released First quarter 2022 results: Net loss: kr2.59m (loss narrowed 85% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 13
Full year 2021 earnings released: kr0.29 loss per share (vs kr0.82 profit in FY 2020) Full year 2021 results: kr0.29 loss per share (down from kr0.82 profit in FY 2020). Net loss: kr41.6m (down 135% from profit in FY 2020). Over the last 3 years on average, earnings per share has increased by 68% per year and the company’s share price has also increased by 68% per year. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: kr0.28 loss per share (down from kr0.82 profit in FY 2020). Net loss: kr40.8m (down 134% from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improved over the past week After last week's 19% share price gain to €1.20, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 12x in the Oil and Gas industry in Germany. Total returns to shareholders of 1,392% over the past three years. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 44% share price gain to €1.09, the stock trades at a trailing P/E ratio of 29.7x. Average trailing P/E is 13x in the Oil and Gas industry in Germany. Total returns to shareholders of 1,537% over the past three years. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: kr0.04 (up from kr0.006 in 3Q 2020). Net income: kr5.86m (up kr4.94m from 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 149% per year but the company’s share price has only increased by 109% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 161% share price gain to €1.32, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 20x in the Oil and Gas industry in Germany. Total returns to shareholders of 2,141% over the past three years. Announcement • Sep 14
Misen Energy AB (publ) (OM:MISE) acquired additional 47.5% stake in Misen Enterprises AB from Powerful United Limited for SEK 3 million. Misen Energy AB (publ) (OM:MISE) acquired additional 47.5% stake in Misen Enterprises AB from Powerful United Limited for SEK 3 million on September 13, 2021. The shares’ purchase price was SEK 2.724817 million plus 47.5% of the distributable income from the compensation, if any, to be received following the completion of the investment arbitration against Ukraine in ICSID Case No. ARB/21/15 (“BIT arbitration”). Under the agreement, Misen Energy AB (publ) and PUL undertook to share the costs of the funding, if any, to finance the BIT arbitration. Misen Energy AB (publ) now owns 98% of shares in Misen Enterprises AB.
Misen Energy AB (publ) (OM:MISE) completed the acquisition of additional 47.5% stake in Misen Enterprises AB from Powerful United Limited on September 13, 2021. Reported Earnings • Sep 01
Second quarter 2021 earnings released: kr0.12 loss per share (vs kr0.01 profit in 2Q 2020) Second quarter 2021 results: Net loss: kr17.1m (down kr18.5m from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 151% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 31
First quarter 2021 earnings released: kr0.12 loss per share (vs kr0.047 profit in 1Q 2020) First quarter 2021 results: Net loss: kr17.4m (down 353% from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 143% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
Misen Energy AB (Publ) Approves Dividend, Payable on 17 May 2021 The AGM of Misen Energy AB (publ) resolved that a total of EUR 5,802,728.88 (SEK 58,027,289) shall be distributed among the Company's 145,068,222 shares, i.e., approximately EUR 0.04 (SEK 0.40) per share. The payment of the dividend is expected to be performed through Eminova Fondkommission AB on 17 May 2021. Is New 90 Day High Low • Mar 05
New 90-day high: €0.21 The company is up 98% from its price of €0.11 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 5.0% over the same period. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS kr0.82 (vs kr0.055 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr509.8m (up kr509.5m from FY 2019). Net income: kr118.7m (up kr126.6m from FY 2019). Profit margin: 23% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Feb 18
Misen Entergy AB (publ) and Misen Enterprises AB Offers Ukraine to Settle Dispute Related to the Imposition of the 70% Subsoil Use Charge Misen Entergy AB (publ) and its partially owned subsidiary Misen Enterprises AB (collectively as Misen) respectfully offered to the Ukrainian Government a final opportunity to resolve the dispute notified to Ukraine in the Notice of Dispute dated 5 October 2015. Absent an amicable solution within the next 30 days, Misen will proceed with the initiation of ICSID arbitration proceeding in accordance with Article 8 of the Agreement between the Government of the Kingdom of Sweden and the Government of Ukraine on the Promotion and Reciprocal Protection of Investments of 1995. By its notice of 5 October 2015, Misen notified Ukraine of the dispute that pertains to Ukraine's breaches of Misen's rights - and the upcoming damage to Misen's investment in Ukraine - resulting from the imposition of a 70% subsoil use charge for the production of natural gas from depths of up to 5,000 meters. As previously reported, the compensation Misen received from JSC Ukrgasvydobuvannya in the arbitration case SCC No. V 2016/114 reflected Misen`s share of the replacement costs of the equipment subject to the joint ownership under the JAA No.3. However, this compensation did not reflect the going concern value of Misen's share at the time the exorbitant subsoil use tax was imposed on the Joint Activity, which led to the termination of the JAA No.3. Reported Earnings • Dec 03
Third quarter 2020 earnings released: EPS kr0.006 Third quarter 2020 results: Net income: kr921.0k (up kr2.60m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 01
Third quarter 2020 earnings released: EPS kr0.01 Third quarter 2020 results: Net income: kr921.0k (up kr7.79m from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Announcement • Nov 30
Misen Energy AB (publ) to Report Q4, 2020 Results on Feb 26, 2021 Misen Energy AB (publ) announced that they will report Q4, 2020 results on Feb 26, 2021 Announcement • Sep 30
Misen Enterprises AB, LLC Karpatygaz and JSC Ukrgasvydobuvannya Enter into a Settlement Agreement On 24 September 2020, Misen Enterprises AB, LLC Karpatygaz and JSC Ukrgasvydobuvannya requested the Arbitral Tribunal to record a Settlement Agreement on settlement of certain legal relations in a Final Award by Consent. The parties agreed on the following: The total value to be paid by JSC Ukrgasvydobuvannya to Misen Enterprises AB and LLC Karpatygaz is UAH 1,575,093,162.86 (approx. KSEK 504 030) for their share in the joint property under the JAA No.3. JSC Ukrgasvydobuvannya is entitled to withhold a tax on non-resident income for 15% of the specified amount to Misen Enterprises AB (UAH 236,113,788, approx. KSEK 75,845) and pay the withheld amount to the budget of Ukraine. The Settlement Agreement does not regulate payment of tax, if any, in Sweden. JSC Ukrgasvydobuvannya is liable to pay the specified amount to Misen Enterprises AB in US dollars during five working days following the day of entry into force of the decision of the national court of Ukraine on recognition and enforcement of the Final Award by Consent. Ownership of shares of Misen Enterprises AB and LLC Karpatygaz in the joint property under the JAA No.3 shall pass to JSC Ukrgasvydobuvannya from the date of full payment by JSC Ukrgasvydobuvannya to Misen Enterprises and LLC Karpatygaz of all amounts under the Settlement Agreement. To be valid, the Settlement Agreement on settlement of certain legal relations shall be confirmed (approved) by the Arbitral Tribunal in accordance with the SCC Arbitration Rules. If confirmed (approved), Final Award by Consent would terminate the arbitration proceeding in the SCC case V 2016/114. To be paid the above-specified amounts, Misen Enterprises AB would be required to seek recognition and enforcement of the Final Award by Consent in Ukraine. Additionally, on 11 September 2020 Kyiv Court of Appeal granted an application of Misen Enterprises AB whereby Misen Enterprises AB sought recognition and enforcement of the Second Partial Final Award dated 12 June 2020 (subject to the Corrections of the Second Partial Final Award dated 18 August 2020). Accordingly, JSC Ukrgasvydobuvannya is liable to reimburse EUR 2,739,784.53 (approx. KSEK 28 990), SEK 344,415.38, USD 7,971.59 (approx. KSEK 72), and GBP 10,940.05 (approx. KSEK126) to Misen Enterprises AB for the legal costs incurred the SCC case V 2016/114. JSC Ukrgasvydobuvannya may appeal the ruling before the Supreme Court of Ukraine under Ukrainian law. Is New 90 Day High Low • Sep 29
New 90-day high: €0.22 The company is up 252% from its price of €0.062 on 01 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 54% over the same period. Announcement • Aug 31
Misen Energy AB (publ) to Report Q3, 2020 Results on Nov 30, 2020 Misen Energy AB (publ) announced that they will report Q3, 2020 results on Nov 30, 2020 