Board Change • May 20
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (6 non-independent directors). Executive Vice Chairman Magnus Håkansson is the most experienced director on the board, commencing their role in 2017. Independent Director Jörn Werner was the last independent director to join the board, commencing their role in 2024. 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. Announcement • Apr 23
Meko AB (publ) to Report Q1, 2026 Results on May 07, 2026 Meko AB (publ) announced that they will report Q1, 2026 results at 7:30 AM, Central European Standard Time on May 07, 2026 Announcement • Jan 29
Meko AB (publ) to Report Fiscal Year 2025 Results on Feb 12, 2026 Meko AB (publ) announced that they will report fiscal year 2025 results at 7:30 AM, Central European Standard Time on Feb 12, 2026 Announcement • Nov 13
Meko AB (publ), Annual General Meeting, May 07, 2026 Meko AB (publ), Annual General Meeting, May 07, 2026. Announcement • Oct 30
Meko AB (publ) to Report Q3, 2025 Results on Nov 13, 2025 Meko AB (publ) announced that they will report Q3, 2025 results at 7:30 AM, Central European Standard Time on Nov 13, 2025 Announcement • Jul 25
Meko AB (Publ) Announces Executive and Directorate Changes Meko AB (publ) announced reviewing the structure of its Group Management Team to strengthen its commercial focus. As part of this review, a new role as Director of Purchasing and Business Development is being introduced. At the same time, the role of Chief Operating Officer is being discontinued, and the Chief Legal Officer will no longer be part of Group Management. In connection with these changes, Petra Bendelin is leaving her position as Chief Operating Officer to pursue new opportunities outside MEKO. The role of Chief Operating Officer has carried overarching responsibility for operations across the Group. A more commercially focused position is now being established, with Marcus Larsson appointed Interim Director of Purchasing and Business Development. Marcus previously served as Executive Vice President of Mekonomen Group until 2017 and will hold the role until a permanent successor has been appointed. Petra Bendelin has served as MEKO's Chief Operating Officer since 2023 and has also been interim Managing Director of the Swedish operations since 2024. Following her departure, Pehr Oscarson will assume the role of Interim Managing Director of MEKO Sweden alongside his current duties as President and CEO. As part of the same review, the role of Director of Legal Affairs is also being removed from Group Management, which means Robert Hård will no longer be part of MEKO's Group Management Team. All other roles remain unchanged. Announcement • Jul 11
Meko AB (publ) to Report Q2, 2025 Results on Jul 25, 2025 Meko AB (publ) announced that they will report Q2, 2025 results at 7:30 AM, Central European Standard Time on Jul 25, 2025 Announcement • May 13
Meko AB (publ) to Report Q1, 2025 Results on May 15, 2025 Meko AB (publ) announced that they will report Q1, 2025 results at 7:30 AM, Central European Standard Time on May 15, 2025 Announcement • Feb 14
Meko AB (publ), Annual General Meeting, May 15, 2025 Meko AB (publ), Annual General Meeting, May 15, 2025. Board Change • Dec 30
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 Eivor Andersson 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. Announcement • Dec 20
Meko AB (publ) Appoints Marie Björklund and Jörn Werner as New Members of the Board of Directors Meko AB (publ) at tis Extraordinary General Meeting held on 19 December 2024, appointed Marie Björklund and Jörn Werner as new members of the company's Board of Directors. For the period until the Annual General Meeting 2025, the Board consist of Dominick Zarcone (Chairman), Eivor Andersson, Kenny Bräck, Magnus Håkansson, Robert Reppa and Helena Skåntorp, elected at the Annual General Meeting 2024, as well as Jörn Werner and Marie Björklund. Recent Insider Transactions • Nov 12
President & CEO recently bought €125k worth of stock On the 7th of November, Pehr Oscarson bought around 10k shares on-market at roughly €12.49 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €474k worth in shares. New Risk • Nov 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: kr4.04 (vs kr3.11 in 3Q 2023) Third quarter 2024 results: EPS: kr4.04 (up from kr3.11 in 3Q 2023). Revenue: kr4.64b (up 9.0% from 3Q 2023). Net income: kr226.0m (up 30% from 3Q 2023). Profit margin: 4.9% (up from 4.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Oct 19
Meko AB (publ) Announces Nomination Committee for 2025 Annual General Meeting Meko AB (publ) announced that the Nomination Committee adopted by the Annual General Meeting 2024, members of the Nomination Committee for the 2025 Annual General Meeting have been appointed. The following members will form the Nomination Committee: Dominick Zarcone appointed by LKQ Corporation; Magnus Sjöqvist appointed by Swedbank Robur Fonder AB; Thomas Wuolikainen appointed by the Fourth Swedish National Pension Fund; Mats Hellström appointed by Nordea Fonder AB. The members of the Nomination Committee will appoint a Committee Chairman at their first meeting. Helena Skåntorp, Board Member of MEKO, has been co-opted to the Nomination Committee. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €11.22, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 7x in the Specialty Retail industry in Germany. Total loss to shareholders of 22% over the past three years. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: kr2.86 (vs kr3.02 in 2Q 2023) Second quarter 2024 results: EPS: kr2.86 (down from kr3.02 in 2Q 2023). Revenue: kr4.76b (up 6.9% from 2Q 2023). Net income: kr160.0m (down 5.3% from 2Q 2023). Profit margin: 3.4% (down from 3.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 16% per year. Announcement • Aug 02
Meko AB (publ) (OM:MEKO) completed the acquisition of ELIT Polska sp. z o. o. from Rhiag - Inter Auto Parts Italia S.R.L. Meko AB (publ) (OM:MEKO) has entered into a definitive agreement to acquire ELIT Polska sp. z o. o. from Rhiag - Inter Auto Parts Italia S.R.L. on May 10, 2024. Elit Polska’s 2023 revenue was approximately PLN 429 million. MEKO is acquiring all shares in Elit Polska, where the company’s 485 employees will join MEKO’s organization, enabling an even stronger offering to Polish customers. The transaction is expected to be completed during the second half of 2024 and is subject to customary closing conditions and necessary regulatory approvals and is subject to obtaining clearance from the President of the Office of Competition and Consumer Protection. Lenner & Partners Corporate Finance AB acted as Fairness Opinion Provider to Meko AB. Lenner & Partners concluded in their analysis that the financial valuation of the transaction is fair. Pawel Zdort, Iwona Her, Marek Kanczew and Marcin Serafin of Rymarz Zdort Maruta acted as legal advisor to Meko. Harald Strom of Nordea Securities AB acted as financial advisor to Meko AB (publ).
Meko AB (publ) (OM:MEKO) completed the acquisition of ELIT Polska sp. z o. o. from Rhiag - Inter Auto Parts Italia S.R.L. on August 1, 2024. Following a standard regulatory review, the acquisition has now been approved and the agreement finalized. Announcement • Jul 09
Meko AB (publ) acquired Automeister A S Meko AB (publ) agreed to acquire Automeister A S on July 8, 2024.Meko AB (publ) completed acquistiion of Automeister A S on July 8, 2024. Announcement • Jul 02
Meko AB (publ) Announces Step Down of Michael Løve as Board Member Meko AB (publ) announced that Michael Løve has informed the board that he is stepping down from his role as a board member to fully focus on his duties as CEO of the Danish energy company OK. Michael Løve was elected to MEKO's board in 2020 and has also held the position of CEO of OK in Denmark during this time. The recruitment of a replacement will begin immediately. Board Change • May 21
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. 3 experienced directors. 2 highly experienced directors. Independent Director Michael Love was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 20
President & CEO recently bought €105k worth of stock On the 17th of May, Pehr Oscarson bought around 10k shares on-market at roughly €10.49 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €648k worth in shares. Declared Dividend • May 19
Dividend of kr1.85 announced Shareholders will receive a dividend of kr1.85. Ex-date: 15th November 2024 Payment date: 21st November 2024 Dividend yield will be 20%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 87% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: kr0.93 (vs kr1.43 in 1Q 2023) First quarter 2024 results: EPS: kr0.93 (down from kr1.43 in 1Q 2023). Revenue: kr4.39b (up 8.3% from 1Q 2023). Net income: kr52.0m (down 35% from 1Q 2023). Profit margin: 1.2% (down from 2.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 11% per year. Announcement • May 11
Meko AB (publ) (OM:MEKO) has entered into a definitive agreement to acquire ELIT Polska sp. z o. o. from LKQ Corporation (NasdaqGS:LKQ). Meko AB (publ) (OM:MEKO) has entered into a definitive agreement to acquire ELIT Polska sp. z o. o. from LKQ Corporation (NasdaqGS:LKQ) on May 10, 2024. Elit Polska’s 2023 revenue was approximately PLN 429 million. MEKO is acquiring all shares in Elit Polska, where the company’s 485 employees will join MEKO’s organization, enabling an even stronger offering to Polish customers. The transaction is expected to be completed during the second half of 2024 and is subject to customary closing conditions and necessary regulatory approvals. Additionally, the independent board engaged Lenner & Partners Corporate Finance AB for an independent assessment of the transaction's valuation. Lenner & Partners concluded in their analysis that the financial valuation of the transaction is fair. Upcoming Dividend • May 10
Upcoming dividend of kr1.85 per share Eligible shareholders must have bought the stock before 17 May 2024. Payment date: 23 May 2024. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.7%). Announcement • Apr 11
Meko AB (publ) Proposes Dividend, Payable on May 23, 2024 and November 21, 2024 The board of Meko AB (publ) proposed at the AGM to be held on, 16 May 2024, a dividend of SEK 3.70 per share be paid. The dividend is proposed to be paid in two instalments - the first of SEK 1.85 with record date 20 May 2024 and the second of SEK 1.85 with record date 18 November 2024. With the proposed record dates, the first instalment of the dividend is expected to be distributed by Euroclear Sweden AB on 23 May 2024 and the second instalment on 21 November 2024. Announcement • Mar 28
Meko AB (publ) to Report Fiscal Year 2023 Final Results on Mar 27, 2024 Meko AB (publ) announced that they will report fiscal year 2023 final results on Mar 27, 2024 Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: kr7.49 (vs kr8.12 in FY 2022) Full year 2023 results: EPS: kr7.49 (down from kr8.12 in FY 2022). Revenue: kr17.3b (up 20% from FY 2022). Net income: kr419.0m (down 7.7% from FY 2022). Profit margin: 2.4% (down from 3.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year. Declared Dividend • Feb 26
Final dividend of kr1.85 announced Shareholders will receive a dividend of kr1.85. Ex-date: 17th May 2024 Payment date: 23rd May 2024 Dividend yield will be 20%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 56% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Feb 16
President & CEO recently bought €194k worth of stock On the 14th of February, Pehr Oscarson bought around 20k shares on-market at roughly €9.68 per share. This transaction amounted to 5.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €597k worth in shares. Reported Earnings • Feb 15
Full year 2023 earnings released: EPS: kr7.50 (vs kr8.12 in FY 2022) Full year 2023 results: EPS: kr7.50 (down from kr8.12 in FY 2022). Revenue: kr17.3b (up 20% from FY 2022). Net income: kr419.0m (down 7.7% from FY 2022). Profit margin: 2.4% (down from 3.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Feb 15
Meko AB (Publ) Proposes Dividend Meko AB (publ) proposed a dividend of SEK 3.70 (3.30) per share, corresponding to a total dividend of SEK 207 million (186). Payment of the dividend is proposed to take place in two installments, SEK 1.85 in May and SEK 1.85 in November. Upcoming Dividend • Nov 15
Upcoming dividend of kr2.20 per share at 3.2% yield Eligible shareholders must have bought the stock before 22 November 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (5.1%). In line with average of industry peers (3.0%). Announcement • Nov 15
MEKO AB (publ) Appoints Christer Johansson as Chief Financial Officer, Effective February 19, 2024 MEKO AB (publ) has appointed Christer Johansson as its new Chief Financial Officer. With his extensive experience in finance and controlling, Christer Johansson will be instrumental in further strengthening MEKO's position. He will assume his new role on February 19, 2024. Currently serving as the Vice President of Business Control at Northvolt, Christer Johansson has an impressive track record, including a previous role as CFO at Hoist Finance. He also has a background as the Head of Ventures Office at SEB bank and as an advisor at the consulting firm McKinsey. Christer Johansson will begin his tenure on February 19, 2024. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: kr3.11 (vs kr2.24 in 3Q 2022) Third quarter 2023 results: EPS: kr3.11 (up from kr2.24 in 3Q 2022). Revenue: kr4.26b (up 14% from 3Q 2022). Net income: kr174.0m (up 39% from 3Q 2022). Profit margin: 4.1% (up from 3.3% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. 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 3% per year. Announcement • Nov 09
Meko AB (publ), Annual General Meeting, May 16, 2024 Meko AB (publ), Annual General Meeting, May 16, 2024. Announcement • Oct 05
MEKO Appoints Anders Oxelström as New Director of Communications, Effective December 18, 2023 MEKO has appointed Anders Oxelström as the new Director of Communications. With a solid background as a leader in some of Sweden's larger media organizations and years of advising major Swedish publicly traded companies, Anders Oxelström will play an important role in enhancing MEKO's communication. He will assume his position on December 18th. Anders Oxelström has previously held positions including Senior News Director and Deputy Editor-in-Chief at Dagens Nyheter, Head and Editor-in-Chief for TV 4 News, and Head of the investigative program "Kalla Fakta" on the same channel. He is a partner and advisor at the communication firm Kreab, where for several years he has provided strategic communication advice to executive teams in listed companies. In 2023, he also served as the interim Communications Director at MEKO, a role he will assume permanently from December 18th onwards. Recent Insider Transactions • Sep 29
President & CEO recently bought €80k worth of stock On the 27th of September, Pehr Oscarson bought around 10k shares on-market at roughly €7.95 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €87k. Pehr has been a buyer over the last 12 months, purchasing a net total of €558k worth in shares. Announcement • Sep 26
Meko AB (publ) Announces Establishment of Nomination Committee Meko AB (publ) announced that in accordance with the resolution of the Annual General Meeting on May 23, 2023, MEKO has established a Nomination Committee. This Committee shall prepare and submit proposals to the Annual General Meeting 2024, regarding: the election of a Chairman of the Annual General Meeting, the number of Board members and deputies, the election of the Chairman of the Board and other Board members, Board fees and any remuneration for committee work, the election of and fees for auditors, and guidelines for appointment of the Nomination Committee The Nomination Committee prior to the 2024 Annual General Meeting comprises Nick Zarcone appointed by LKQ Corporation, Magnus Sjöqvist appointed by Swedbank Robur Fonder AB, Thomas Wuolikainen appointed by the Fourth Swedish National Pension Fund "Fjärde AP-fonden" and Erik Nordström appointed by Didner & Gerge Fonder AB. The members of the Nomination Committee will appoint a Committee Chairman at their first meeting. MEKO´s board member, Helena Skåntorp, has been co-opted to the Nomination Committee. Recent Insider Transactions • Aug 27
President & CEO recently bought €87k worth of stock On the 23rd of August, Pehr Oscarson bought around 10k shares on-market at roughly €8.69 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €679k worth in shares. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: kr3.02 (vs kr1.73 in 2Q 2022) Second quarter 2023 results: EPS: kr3.02 (up from kr1.73 in 2Q 2022). Revenue: kr4.45b (up 30% from 2Q 2022). Net income: kr169.0m (up 74% from 2Q 2022). Profit margin: 3.8% (up from 2.8% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Recent Insider Transactions • May 29
President & CEO recently bought €92k worth of stock On the 26th of May, Pehr Oscarson bought around 10k shares on-market at roughly €9.22 per share. This transaction amounted to 2.9% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €105k. Pehr has been a buyer over the last 12 months, purchasing a net total of €997k worth in shares. Announcement • May 25
AB Sagax (publ) (OM:SAGA A) acquired 6 central warehouse properties in Finland from Meko AB (publ) (OM:MEKO) for EUR 36.5 million. AB Sagax (publ) (OM:SAGA A) acquired 6 central warehouse properties in Finland from Meko AB (publ) (OM:MEKO) for EUR 36.5 million on May 24, 2023.AB Sagax (publ) (OM:SAGA A) completed the acquisition of 6 central warehouse properties in Finland from Meko AB (publ) (OM:MEKO) on May 24, 2023. Announcement • May 19
Åsa Källenius Resigns as Chief Finance Officer in Meko AB (publ) Åsa Källenius is leaving her position as MEKO's Chief Finance Officer at her own request to take on a new assignment outside the group. The process of recruiting a new CFO will begin immediately and Åsa Källenius will remain in her role until a successor is appointed. The recruitment process to appoint a new CFO will begin immediately. Until a successor is appointed, Åsa Källenius will remain in her role. Recent Insider Transactions • May 18
President & CEO recently bought €105k worth of stock On the 16th of May, Pehr Oscarson bought around 10k shares on-market at roughly €10.48 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €905k worth in shares. Upcoming Dividend • May 17
Upcoming dividend of kr1.10 per share at 2.8% yield Eligible shareholders must have bought the stock before 24 May 2023. Payment date: 30 May 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.7%). Reported Earnings • May 16
First quarter 2023 earnings released: EPS: kr1.43 (vs kr2.11 in 1Q 2022) First quarter 2023 results: EPS: kr1.43 (down from kr2.11 in 1Q 2022). Revenue: kr4.05b (up 26% from 1Q 2022). Net income: kr80.0m (down 32% from 1Q 2022). Profit margin: 2.0% (down from 3.7% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 06
Full year 2022 earnings released: EPS: kr8.12 (vs kr10.21 in FY 2021) Full year 2022 results: EPS: kr8.12 (down from kr10.21 in FY 2021). Revenue: kr14.4b (up 15% from FY 2021). Net income: kr454.0m (down 21% from FY 2021). Profit margin: 3.2% (down from 4.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Feb 17
President & CEO recently bought €155k worth of stock On the 15th of February, Pehr Oscarson bought around 15k shares on-market at roughly €10.30 per share. This transaction amounted to 4.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €800k worth in shares. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: kr8.12 (vs kr10.21 in FY 2021) Full year 2022 results: EPS: kr8.12 (down from kr10.21 in FY 2021). Revenue: kr14.4b (up 15% from FY 2021). Net income: kr454.0m (down 21% from FY 2021). Profit margin: 3.2% (down from 4.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Announcement • Feb 15
Meko AB Proposes Dividend for the Year 2022 Meko AB proposes a dividend of SEK 3.30 (3.00) to be paid in two installments, 1.10 in May and 2.20 in November. Announcement • Nov 17
Meko AB Launches User-Friendly Booking Solution for Car Services in Northern Europe Meko AB launches a new digital booking system that makes it easier for the car owner to book car services. The booking system will be implemented in all MEKO workshop chains from 2023 to improve the customer journey and increase the number of digital bookings. The solution will be offered to other companies with car-related services that want to increase the number of digital bookings. The booking solution will be used throughout Northern Europe as MEKO plans to implement the solution in all business areas and markets from 2023. As it is a white label solution, it can be used by several businesses regardless of brand, the difference for the car owner is function, guidance, flexibility, and transparency. 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. 4 non-independent directors. Independent Director Eivor Andersson 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 • Nov 03
Third quarter 2022 earnings released: EPS: kr2.23 (vs kr3.02 in 3Q 2021) Third quarter 2022 results: EPS: kr2.23 (down from kr3.02 in 3Q 2021). Revenue: kr3.74b (up 24% from 3Q 2021). Net income: kr125.0m (down 26% from 3Q 2021). Profit margin: 3.3% (down from 5.6% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Sep 25
Pehr Oscarsson acquired Meko AB (OM:MEKO) SEK 1.30 million. Pehr Oscarsson acquired Meko AB (OM:MEKO) SEK 1.30 million on 22 September 2022. Chief executive officer Pehr Oscarsson of Meko AB acquired 0.015 million
Pehr Oscarsson completed the acquisition of Meko AB (OM:MEKO) on 22 September 2022. Announcement • Sep 16
Meko AB Establishes Nomination Committee In accordance with the resolution of the Annual General Meeting on May 20, 2022, MEKO has established a Nomination Committee. The Nomination Committee prior to the 2023 Annual General Meeting comprises Robert Hanser appointed by LKQ Corporation, Caroline Sjösten appointed by Swedbank Robur Fonder AB, Thomas Wuolikainen appointed by the Fourth Swedish National Pension Fund "Fjärde AP-fonden" and Kristian Åkesson appointed by Didner & Gerge Fonder AB. The members of the Nomination Committee will appoint a Committee Chairman at their first meeting. MEKO´s board member, Helena Skåntorp, has been co-opted to the Nomination Committee. Reported Earnings • Aug 25
Second quarter 2022 earnings released: EPS: kr1.73 (vs kr3.24 in 2Q 2021) Second quarter 2022 results: EPS: kr1.73 (down from kr3.24 in 2Q 2021). Revenue: kr3.42b (up 4.7% from 2Q 2021). Net income: kr97.0m (down 47% from 2Q 2021). Profit margin: 2.8% (down from 5.6% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 11% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jul 02
Meko AB (OM : MEKO) acquired Koivunen Oy for enterprise value of SEK 1.3 billion. Meko AB (OM : MEKO) entered into an agreement to acquire Koivunen Oy for enterprise value of SEK 1.3 billion on June 14, 2022. The enterprise value is SEK 1,280 million on a cash and debt free basis. The acquisition will be financed in cash through existing liquidity and bank facilities. Koivunen will continue to operate as a stand-alone business. Koivunen had net sales of approximately SEK 1,740 million and an EBIT of approximately SEK 98 million during the financial year 2021. The acquisition is expected to be completed during the third quarter of 2022. The acquisition is expected to have a positive effect on MEKO's earnings per share of SEK 1.50 - 2.00 and generate yearly recurring synergies of SEK 40 million with full effect expected during 2024. SEB Corporate Finance acted as financial advisor to MEKO in relation to the acquisition. Hannes Snellman acted as legal advisor in relation to the acquisition.
Meko AB (OM : MEKO) completed the acquisition of Koivunen Oy on July 1, 2022. Recent Insider Transactions • Jun 25
Chairman of Board recently bought €84k worth of stock On the 21st of June, Robert Hanser bought around 9k shares on-market at roughly €9.78 per share. This was the largest purchase by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Announcement • Jun 16
Meko AB (OM : MEKO) entered into an agreement to acquire Koivunen Oy for enterprise value of SEK 1.3 billion. Meko AB (OM : MEKO) entered into an agreement to acquire Koivunen Oy for enterprise value of SEK 1.3 billion on June 14, 2022. The enterprise value is SEK 1,280 million on a cash and debt free basis. The acquisition will be financed in cash through existing liquidity and bank facilities. Koivunen will continue to operate as a stand-alone business. Koivunen had net sales of approximately SEK 1,740 million and an EBIT of approximately SEK 98 million during the financial year 2021. The acquisition is expected to be completed during the third quarter of 2022. The acquisition is expected to have a positive effect on MEKO's earnings per share of SEK 1.50 - 2.00 and generate yearly recurring synergies of SEK 40 million with full effect expected during 2024. SEB Corporate Finance acted as financial advisor to MEKO in relation to the acquisition. Hannes Snellman acted as legal advisor in relation to the acquisition. Announcement • May 21
Mekonomen AB (Publ) Resolves on Dividend, Payable on May 30, 2022 Mekonomen AB (publ) resolved on a dividend of SEK 3.00 per share. The record date to receive dividends was set at May 24, 2022. Dividends are expected to be paid out through Euroclear Sweden AB on May 30, 2022 at the Annual General Meeting held on May 20, 2022. Reported Earnings • May 12
First quarter 2022 earnings released: EPS: kr2.11 (vs kr1.85 in 1Q 2021) First quarter 2022 results: EPS: kr2.11 (up from kr1.85 in 1Q 2021). Revenue: kr3.23b (up 5.5% from 1Q 2021). Net income: kr118.0m (up 14% from 1Q 2021). Profit margin: 3.7% (up from 3.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 1.8%, compared to a 12% growth forecast for the industry in Germany. 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 18% per year. Board Change • Apr 27
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. 4 non-independent directors. Independent Director Eivor Andersson 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. Announcement • Apr 20
Mekonomen AB (publ) Proposes Dividend, Payable on 30 May 2022 The board of Mekonomen AB (publ) proposed a dividend of SEK 3.00 per share and the record date to receive the dividend shall be 24 May 2022. With the proposed record date, the dividend is expected to be distributed by Euroclear Sweden AB on 30 May 2022. Reported Earnings • Apr 11
Full year 2021 earnings released: EPS: kr10.21 (vs kr7.67 in FY 2020) Full year 2021 results: EPS: kr10.21 (up from kr7.67 in FY 2020). Revenue: kr12.6b (up 7.3% from FY 2020). Net income: kr572.0m (up 32% from FY 2020). Profit margin: 4.6% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 2.7%, compared to a 14% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 19% per year. Reported Earnings • Feb 12
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr10.21 (up from kr7.67 in FY 2020). Revenue: kr12.6b (up 7.3% from FY 2020). Net income: kr572.0m (up 32% from FY 2020). Profit margin: 4.6% (up from 3.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Over the next year, revenue is forecast to stay flat compared to a 17% growth forecast for the retail industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 25% per year. Announcement • Feb 11
Mekonomen AB (publ) Proposes a Dividend for 2021 The Board of Directors of Mekonomen AB (publ) proposed a dividend of SEK 3.00 per share for 2021. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €14.91, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Specialty Retail industry in Europe. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.73 per share. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS kr3.02 (vs kr2.18 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr3.01b (up 3.9% from 3Q 2020). Net income: kr169.0m (up 37% from 3Q 2020). Profit margin: 5.6% (up from 4.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 17% per year. Recent Insider Transactions • Sep 04
President & CEO recently bought €49k worth of stock On the 27th of August, Pehr Oscarson bought around 3k shares on-market at roughly €15.94 per share. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €206k worth in shares. Recent Insider Transactions • Aug 29
President & CEO recently bought €49k worth of stock On the 27th of August, Pehr Oscarson bought around 3k shares on-market at roughly €15.94 per share. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €206k worth in shares. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improved over the past week After last week's 17% share price gain to €16.52, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Specialty Retail industry in Europe. Total returns to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €19.17 per share. Recent Insider Transactions • Aug 27
President & CEO recently bought €47k worth of stock On the 20th of August, Pehr Oscarson bought around 3k shares on-market at roughly €15.78 per share. This was the largest purchase by an insider in the last 3 months. Pehr has been a buyer over the last 12 months, purchasing a net total of €157k worth in shares. Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS kr3.24 (vs kr2.49 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr3.26b (up 11% from 2Q 2020). Net income: kr182.0m (up 30% from 2Q 2020). Profit margin: 5.6% (up from 4.8% in 2Q 2020). The increase in margin was driven by higher revenue. 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. Executive Departure • May 12
Independent Director has left the company On the 7th of May, Arja Taaveniku's tenure as Independent Director ended after 2.0 years in the role. We don't have any record of a personal shareholding under Arja's name. A total of 2 executives have left over the last 12 months. Executive Departure • May 12
Chairman of the Board John Quinn has left the company On the 7th of May, John Quinn's tenure as Chairman of the Board ended after 4.0 years in the role. We don't have any record of a personal shareholding under John's name. A total of 2 executives have left over the last 12 months. Reported Earnings • May 08
First quarter 2021 earnings released: EPS kr1.85 (vs kr0.28 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr3.06b (up 4.8% from 1Q 2020). Net income: kr104.0m (up kr120.0m from 1Q 2020). Profit margin: 3.4% (up from net loss in 1Q 2020). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 19% share price gain to kr12.97, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the Specialty Retail industry in Europe. Total returns to shareholders of 210% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €17.01 per share. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS kr7.67 (vs kr7.33 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: kr11.7b (down 2.6% from FY 2019). Net income: kr432.0m (up 4.6% from FY 2019). Profit margin: 3.7% (up from 3.4% in FY 2019). The increase in margin was driven by lower expenses.