Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €3.05, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 15x in the IT industry in Germany. Total loss to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €5.69 per share. Reported Earnings • Jul 16
Second quarter 2026 earnings released: EPS: kr0.15 (vs kr0.78 in 2Q 2025) Second quarter 2026 results: EPS: kr0.15 (down from kr0.78 in 2Q 2025). Revenue: kr1.45b (flat on 2Q 2025). Net income: kr20.0m (down 81% from 2Q 2025). Profit margin: 1.4% (down from 7.1% in 2Q 2025). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Jul 15
Addnode Group AB (publ) to Report Q1, 2027 Results on Apr 27, 2027 Addnode Group AB (publ) announced that they will report Q1, 2027 results on Apr 27, 2027 Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €4.12, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the IT industry in Germany. Total loss to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.86 per share. New Risk • Jul 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks High level of debt (68% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €3.67, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the IT industry in Germany. Total loss to shareholders of 65% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.11 per share. Board Change • May 20
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 Petra Alund was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 01
Addnode Group AB (publ) to Report Fiscal Year 2026 Results on Feb 09, 2027 Addnode Group AB (publ) announced that they will report fiscal year 2026 results on Feb 09, 2027 Announcement • Feb 04
Addnode Group AB (publ) announces Annual dividend, payable on May 15, 2026 Addnode Group AB (publ) announced Annual dividend of SEK 1.1500 per share payable on May 15, 2026, ex-date on May 08, 2026 and record date on May 11, 2026. Buy Or Sell Opportunity • Jan 06
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to €8.42. The fair value is estimated to be €10.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.3%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Board Change • Dec 30
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 5 highly experienced directors. Independent Director Petra Alund was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 03
Addnode Group AB (publ) (OM:ANOD B) acquired Acad Plus Inc. Addnode Group AB (publ) (OM:ANOD B) acquired Acad Plus Inc. on December 2, 2025. ACAD-Plus will be consolidated from December 2025 as part of Addnode Group’s division Design Management. ACAD-Plus reported net sales of SEK 12 million.
Addnode Group AB (publ) (OM:ANOD B) completed the acquisition of Acad Plus Inc. on December 2, 2025. Announcement • Oct 31
Addnode Group AB (publ), Annual General Meeting, May 07, 2026 Addnode Group AB (publ), Annual General Meeting, May 07, 2026. Announcement • Jul 15
Addnode Group AB (publ) to Report Q1, 2026 Results on Apr 28, 2026 Addnode Group AB (publ) announced that they will report Q1, 2026 results on Apr 28, 2026 Announcement • Jul 02
Addnode Group AB (publ) (OM:ANOD B) completed the acquisition of Genus As. Addnode Group AB (publ) (OM:ANOD B) signed an agreement to acquire Genus As on May 28, 2025. The consideration consists of 2.05 million common equity of Addnode Group AB (publ) to be issued for common equity of Genus As. A cash consideration will be paid by Addnode Group AB (publ). As part of consideration, an undisclosed value is paid towards common equity of Genus As. A contingent consideration may be paid depending on Genus’ future financial performance.
For the period ending December 31, 2024, Genus As reported total revenue of NOK 165 million.
The acquisition is not subject to any completion conditions. Genus will be consolidated as part of Addnode Group’s division Process Management. The expected completion of the transaction is July 1, 2025.
Addnode Group AB (publ) (OM:ANOD B) completed the acquisition of Genus As on July 1, 2025. The number of newly issued B shares amounts to 2,024,442, which, calculated after the issue, corresponds to a dilution of 1.48% of the share capital and 1.18% of the voting rights in Addnode Group. Announcement • May 30
Addnode Group AB (publ) (OM:ANOD B) agreed to acquire Genus As Addnode Group AB (publ) (OM:ANOD B) agreed to acquire Genus As on May 28, 2025. The consideration consists of 2.05 million common equity of Addnode Group AB (publ) to be issued for common equity of Genus As. A cash consideration will be paid by Addnode Group AB (publ). As part of consideration, an undisclosed value is paid towards common equity of Genus As. A contingent consideration may be paid depending on Genus’ future financial performance.
For the period ending December 31, 2024, Genus As reported total revenue of NOK 165 million.
The acquisition is not subject to any completion conditions. Genus will be consolidated as part of Addnode Group’s division Process Management. The expected completion of the transaction is July 1, 2025. Announcement • May 08
Addnode Group AB (Publ) Approves the Dividend Addnode Group announced that at its AGM held on 7 May 2025, the meeting decided, in accordance with the Board of Directors' proposal, that of the profit according to the adopted balance sheet, a dividend of SEK 1.15 per share shall be distributed to the shareholders, representing a total amount of SEK 153,496,998 and that the remaining available earnings of SEK 870,972,735 shall be carried forward. Announcement • Apr 10
Addnode Group AB (publ) announces Annual dividend, payable on May 14, 2025 Addnode Group AB (publ) announced Annual dividend of SEK 1.1500 per share payable on May 14, 2025, ex-date on May 08, 2025 and record date on May 09, 2025. Announcement • Feb 01
Addnode Group AB (publ), Annual General Meeting, May 07, 2025 Addnode Group AB (publ), Annual General Meeting, May 07, 2025. Announcement • Jan 28
Addnode Group AB (publ) (OM:ANOD B) signed an agreement to acquire Congere IT-Konsult AB. Addnode Group AB (publ) (OM:ANOD B) signed an agreement to acquire Congere IT-Konsult AB on January 27, 2025. For the period ending December 31, 2024, Congere IT-Konsult AB reported total revenue of SEK 25 million and has 22 employees. Congere will be part of Addnode Group’s division Process Management. The expected completion of the transaction is in February 2025. Announcement • Jan 27
Addnode Group AB (publ) to Report Fiscal Year 2024 Final Results on Mar 31, 2025 Addnode Group AB (publ) announced that they will report fiscal year 2024 final results on Mar 31, 2025 Announcement • Oct 25
Addnode Group AB (publ) to Report Q1, 2025 Results on Apr 25, 2025 Addnode Group AB (publ) announced that they will report Q1, 2025 results on Apr 25, 2025 Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: kr0.73 (vs kr0.26 in 3Q 2023) Third quarter 2024 results: EPS: kr0.73 (up from kr0.26 in 3Q 2023). Revenue: kr1.86b (up 2.8% from 3Q 2023). Net income: kr97.0m (up 177% from 3Q 2023). Profit margin: 5.2% (up from 1.9% in 3Q 2023). Revenue is expected to decline by 2.0% p.a. on average during the next 3 years, while revenues in the IT industry in Germany are expected to grow by 7.8%. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €9.31, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 15x in the IT industry in Germany. Total returns to shareholders of 4.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.85 per share. Reported Earnings • Jul 14
Second quarter 2024 earnings released: EPS: kr0.41 (vs kr0.26 in 2Q 2023) Second quarter 2024 results: EPS: kr0.41 (up from kr0.26 in 2Q 2023). Revenue: kr2.01b (up 29% from 2Q 2023). Net income: kr54.0m (up 59% from 2Q 2023). Profit margin: 2.7% (up from 2.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 11% per year. Recent Insider Transactions • Jun 06
Chairman recently sold €16m worth of stock On the 31st of May, Staffan Hanstorp sold around 2m shares on-market at roughly €10.60 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Staffan's only on-market trade for the last 12 months. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: kr0.90 (vs kr0.78 in 1Q 2023) First quarter 2024 results: EPS: kr0.90 (up from kr0.78 in 1Q 2023). Revenue: kr2.41b (up 22% from 1Q 2023). Net income: kr120.0m (up 15% from 1Q 2023). Profit margin: 5.0% (down from 5.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the IT 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 12% per year, which means it is significantly lagging earnings growth. Announcement • Apr 17
Addnode Group AB (Publ) Announces Step Down of Jonas Gejer from Management, Effective from June 30, 2024 Addnode Group AB (publ) announced that Jonas Gejer, Vice President of Business Development and part of Addnode Group’s Management, has decided to step down from his position in Addnode Group, as of June 30, 2024. Jonas will remain as long-term main owner of Addnode Group together with Staffan Hanstorp through Aretro Capital Group AB. Jonas has served in key roles since Technia joined Addnode Group in 2004, from Head of Sales and CEO of Technia and Division President Product Lifecycle Management, and lately driving Group Business development. As one the founders and later as CEO Jonas has been instrumental in expanding Technia, both organically and through acquisitions, to become an international company with business in 20 countries. With Jonas as CEO Technia grew net sales with 500 per cent. Declared Dividend • Apr 10
Dividend of kr1.00 announced Shareholders will receive a dividend of kr1.00. Ex-date: 8th May 2024 Payment date: 15th May 2024 Dividend yield will be 10%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 96% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 07
Full year 2023 earnings released: EPS: kr2.09 (vs kr2.86 in FY 2022) Full year 2023 results: EPS: kr2.09 (down from kr2.86 in FY 2022). Revenue: kr7.41b (up 19% from FY 2022). Net income: kr279.0m (down 27% from FY 2022). Profit margin: 3.8% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Mar 08
Addnode Group AB (publ) to Report Fiscal Year 2023 Final Results on Apr 01, 2024 Addnode Group AB (publ) announced that they will report fiscal year 2023 final results at 9:00 AM, Central European Standard Time on Apr 01, 2024 Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €9.38, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 16x in the IT industry in Germany. Total returns to shareholders of 53% over the past three years. Announcement • Feb 05
Addnode Group AB (Publ) Proposes Dividend for 2023, Payable in May 2024 Addnode Group AB (publ) announced that Board proposed a dividend of SEK 1.00 (1.00) per share for 2023 that will be paid to shareholders in May 2024. New Risk • Feb 04
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 47% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Profit margins are more than 30% lower than last year (3.8% net profit margin). Reported Earnings • Feb 03
Full year 2023 earnings released: EPS: kr2.09 (vs kr2.86 in FY 2022) Full year 2023 results: EPS: kr2.09 (down from kr2.86 in FY 2022). Revenue: kr7.41b (up 19% from FY 2022). Net income: kr279.0m (down 27% from FY 2022). Profit margin: 3.8% (down from 6.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Dec 21
Addnode Group AB (publ) to Report Fiscal Year 2024 Results on Jan 31, 2025 Addnode Group AB (publ) announced that they will report fiscal year 2024 results on Jan 31, 2025 Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €7.21, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 18x in the IT industry in Germany. Total returns to shareholders of 13% over the past three years. Reported Earnings • Oct 29
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr1.81b (up 11% from 3Q 2022). Net income: kr35.0m (down 66% from 3Q 2022). Profit margin: 1.9% (down from 6.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Oct 13
Addnode Group AB (publ) Announces Nomination Committee for 2024 Addnode Group AB (publ)'s Annual General Meeting on May 4, 2023, the members of the Nomination Committee are hereby announced and will remain as composed until a new Nomination Committee has been appointed in accordance with the mandate of the next Annual General Meeting. The Nomination Committee has the following composition: Jonas Gejer, appointed by Aretro Capital Group AB. Jonas Gejer is the chairman of the Nomination Committee as the representative of the largest owner in terms of votes. Andreas Wollheim, appointed by SEB Investment Management. Marianne Nilsson, appointed by Swedbank Robur Fonder. Claes Murander, appointed by Lannebo Fonder. Staffan Hanstorp, chairman of Addnode Group's Board of Directors. Addnode Group's Annual General Meeting 2024 will be held on May 7, 2024. Announcement • Sep 06
Addnode Group AB (Publ) Announces CFO Changes Addnode Group AB (publ) announced Kristina Elfström Mackintosh has been appointed CFO in Addnode Group. Kristina will take up the position no later than February 2024 and will then also be part of Addnode Group's Group Management team. Kristina has solid experience as CFO for both listed and international groups, as well as fast growing companies with a strong acquisition focus. Most recently, Kristina comes from a role as CFO for ChargeAmps, a growth company in electric vehicle charging, before that Kristina was, among other things, CFO for Lagercrantz Group. Kristina holds a BSc in Business and Economics from Uppsala University and has been an authorized accountant. As previously announced, the current CFO Lotta Jarleryd will leave Addnode Group. Announcement • Aug 22
Addnode Group AB (publ) to Report Q1, 2024 Results on Apr 25, 2024 Addnode Group AB (publ) announced that they will report Q1, 2024 results at 8:30 AM, Central European Standard Time on Apr 25, 2024 Reported Earnings • Jul 14
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr1.55b (up 4.4% from 2Q 2022). Net income: kr34.0m (down 51% from 2Q 2022). Profit margin: 2.2% (down from 4.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. New Risk • Jul 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment deteriorates as stock falls 34% After last week's 34% share price decline to €6.88, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 17x in the IT industry in Germany. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.32 per share. Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Director Petra Alund was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 28
Upcoming dividend of kr1.00 per share at 0.8% yield Eligible shareholders must have bought the stock before 05 May 2023. Payment date: 11 May 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.1%). Reported Earnings • Apr 06
Full year 2022 earnings released: EPS: kr2.86 (vs kr1.66 in FY 2021) Full year 2022 results: EPS: kr2.86 (up from kr1.66 in FY 2021). Revenue: kr6.23b (up 53% from FY 2021). Net income: kr382.0m (up 71% from FY 2021). Profit margin: 6.1% (up from 5.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Feb 09
Insider recently sold €257k worth of stock On the 3rd of February, Andreas Wikholm sold around 25k shares on-market at roughly €10.26 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought €39k more than they sold in the last 12 months. Reported Earnings • Feb 05
Full year 2022 earnings released: EPS: kr2.86 (vs kr1.66 in FY 2021) Full year 2022 results: EPS: kr2.86 (up from kr1.66 in FY 2021). Revenue: kr6.23b (up 53% from FY 2021). Net income: kr382.0m (up 71% from FY 2021). Profit margin: 6.1% (up from 5.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Feb 04
Addnode Group AB (publ) Proposes Dividend for the Financial Year 2022, Payable on 11 May 2023 The Board of Directors of Addnode Group AB (publ) proposed that the Annual General Meeting approves a dividend of SEK 1.00 per share (0.75) for the financial year 2022, corresponding to a total dividend of SEK 133 million (100). 8 May 2023 has been proposed as the record date for payment of dividends. If the Annual General Meeting approves this proposal, dividends are expected to be disbursed on 11 May 2023. Announcement • Jan 17
Addnode Group AB (publ) to Report Fiscal Year 2023 Results on Feb 02, 2024 Addnode Group AB (publ) announced that they will report fiscal year 2023 results at 8:30 AM, Central European Standard Time on Feb 02, 2024 Announcement • Jan 03
Addnode Group AB (publ) (OM:ANOD B) acquired Fast2 Affarssystem Ab. Addnode Group AB (publ) (OM:ANOD B) acquired Fast2 Affarssystem Ab on January 2, 2023. FAST2 will be consolidated starting from January 2, 2023, as part of Addnode Group's Design Management Division.
Addnode Group AB (publ) (OM:ANOD B) completed the acquisition of Fast2 Affarssystem Ab on January 2, 2023. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Director Kristina Willgard 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. Reported Earnings • Oct 29
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr1.62b (up 76% from 3Q 2021). Net income: kr103.0m (up 110% from 3Q 2021). Profit margin: 6.3% (up from 5.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the IT industry in Germany. Announcement • Oct 07
Addnode Group AB (publ), Annual General Meeting, May 04, 2023 Addnode Group AB (publ), Annual General Meeting, May 04, 2023. Announcement • Oct 05
Addnode Group AB (Publ) Announces Executive Changes Addnode Group AB (publ) announced that it has appointed Elisabeth Forslin as its new Head of M&A. Elisabeth Forslin will also be part of the Group Management team. Elisabeth is Head of M&A at AFRY and has in this role been involved in acquiring and integrating around 60 companies. Elisabeth has been with AFRY since 2011, before that she has held other roles mainly related to finance with other international companies within construction and engineering, such as WSP and EnergoRetea Group. Elisabeth is 51 years old and holds a Bachelor of Science, Management and Economics, from the University of Örebro, Sweden. Elisabeth will join Addnode Group latest January 1, 2023. Elisabeth will be replacing Addnode Group's previous Head of M&A, Adam Nilsson, who has left the Group. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €7.83, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 17x in the IT industry in Germany. Total returns to shareholders of 118% over the past three years. Announcement • Aug 09
Addnode Group AB (publ) to Report Fiscal Year 2022 Results on Feb 03, 2023 Addnode Group AB (publ) announced that they will report fiscal year 2022 results on Feb 03, 2023 Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 17% share price gain to €9.48, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 20x in the IT industry in Germany. Total returns to shareholders of 177% over the past three years. Reported Earnings • Jul 16
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr1.49b (up 49% from 2Q 2021). Net income: kr70.0m (up 75% from 2Q 2021). Profit margin: 4.7% (up from 4.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 19%, compared to a 16% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €8.15, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 22x in the IT industry in Germany. Total returns to shareholders of 137% over the past three years. Announcement • Jun 02
Addnode Group AB (publ) (OM:ANOD B) acquired Decisive As. Addnode Group AB (publ) (OM:ANOD B) acquired Decisive As on June 1, 2022. Decisive will be consolidated starting from June 1, 2022 as part of Addnode Group's Process Management Division.
Addnode Group AB (publ) (OM:ANOD B) completed the acquisition of Decisive As on June 1, 2022. Announcement • May 05
Addnode Group AB (publ) Approves Dividend Addnode Group AB (publ) at its annual general meeting held on May 4, 2022, approved that dividend of SEK 3.00 per share shall be distributed to the shareholders, representing a total amount of SEK 100,296,174, and that the remaining available earnings of SEK 745,710,294 shall be carried forward. Reported Earnings • May 01
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr1.33b (up 28% from 1Q 2021). Net income: kr106.0m (up 96% from 1Q 2021). Profit margin: 8.0% (up from 5.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 5.8%, compared to a 19% growth forecast for the industry in Germany. Upcoming Dividend • Apr 28
Upcoming dividend of kr3.00 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.0%). Lower than average of industry peers (1.3%). Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Director Kristina Willgard 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. Reported Earnings • Feb 05
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr6.63 (up from kr4.88 in FY 2020). Revenue: kr4.08b (up 7.1% from FY 2020). Net income: kr223.0m (up 37% from FY 2020). Profit margin: 5.5% (up from 4.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 13%, compared to a 17% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 05
Addnode Group AB (publ) Proposes Dividend, Payable on 11 May 2022 Addnode Group AB (publ) proposed dividend of SEK 3.00 per share (SEK 2.50 per share). 6 May 2022 has been proposed as the record date for payment of dividends. If the Annual General Meeting approves this proposal, dividends are expected to be disbursed on 11 May 2022. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improved over the past week After last week's 16% share price gain to €40.55, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 31x in the IT industry in Germany. Total returns to shareholders of 322% over the past three years. Reported Earnings • Oct 30
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr925.0m (up 15% from 3Q 2020). Net income: kr49.0m (up 32% from 3Q 2020). Profit margin: 5.3% (up from 4.6% 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 6% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 02
Addnode Group AB (publ) (OM:ANOD B) acquired Budsoft Sp. z o.o. Addnode Group AB (publ) (OM:ANOD B) acquired Budsoft Sp. z o.o. on September 1, 2021. Budsoft will become part of Addnode Group's company TECHNIA, and thus be part of its division Product Lifecycle Management.
Addnode Group AB (publ) (OM:ANOD B) completed the acquisition of Budsoft Sp. z o.o. on September 1, 2021. Recent Insider Transactions • Aug 01
President of Design Management Division recently sold €1.4m worth of stock On the 28th of July, Rolf Kjaernsli sold around 60k shares on-market at roughly €23.70 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jul 22
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr1.00b (up 18% from 2Q 2020). Net income: kr40.0m (up 186% from 2Q 2020). Profit margin: 4.0% (up from 1.7% 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 6% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 02
Addnode Group AB (publ) (OM:ANOD B) acquired Irish Procad Limited. Addnode Group AB (publ) (OM:ANOD B) acquired Irish Procad Limited on June 1, 2021. Procad will become part of Addnode Group's company Symetri, and thus be part of the division Design Management. Procad sales in 2020 are amounted to SEK 50 million.
Addnode Group AB (publ) (OM:ANOD B) completed the acquisition of Irish Procad Limited on June 1, 2021. Announcement • May 25
Aeternum Capital AS managed by Aeternum Management AS acquired an additional 1.2% stake in Addnode Group AB (publ) (OM:ANOD B) from Aretro Capital AB. Aeternum Capital AS managed by Aeternum Management AS acquired an additional 1.2% stake in Addnode Group AB (publ) (OM:ANOD B) from Aretro Capital AB on May 24, 2021. Aeternum acquired 285,000 Class B shares and 115,000 Class A shares in Addnode. As a result of transaction, Aretro Capital owns 510,332 Class A shares and 1,299,624 Class B shares, corresponding to 5.4% of the capital and 15.1% of the votes in Addnode, while Aeternum Capital owns 115,000 Class A shares and 994,000 Class B shares, corresponding to 3.3% of the capital and 5% of the votes in Addnode.
Aeternum Capital AS managed by Aeternum Management AS completed the acquisition of an additional 1.2% stake in Addnode Group AB (publ) (OM:ANOD B) from Aretro Capital AB on May 24, 2021. Announcement • May 11
Addnode Group AB (publ) (OM:ANOD B) acquired Elpool I Umes Aktiebolag. Addnode Group AB (publ) (OM:ANOD B) acquired Elpool I Umes Aktiebolag on May 10, 2021. Elpool i Umeå AB (Elpool) will be part of the Addnode Group's division Process Management and has a business that will fit well together with our current subsidiary Stamford AB.
Addnode Group AB (publ) (OM:ANOD B) completed the acquisition of Elpool I Umes Aktiebolag on May 10, 2021. Announcement • May 07
Addnode Group AB (publ) Approves Dividend Addnode Group AB (publ), at the Meeting held on May 6, 2021 decided, in accordance with the Board of Directors' proposal, that of the profit according to the adopted balance sheet, a dividend of SEK 2.50 per share shall be distributed to the shareholders, representing a total amount of SEK 84,080,145, and that the remaining available earnings of SEK 707,121,504 shall be carried forward. Reported Earnings • May 01
First quarter 2021 earnings released The company reported a soft first quarter result with weaker earnings and revenues, although profit margins were improved. First quarter 2021 results: Revenue: kr1.04b (down 16% from 1Q 2020). Net income: kr54.0m (down 5.3% from 1Q 2020). Profit margin: 5.2% (up from 4.6% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 30
Upcoming dividend of kr2.50 per share Eligible shareholders must have bought the stock before 07 May 2021. Payment date: 14 May 2021. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (1.2%). Reported Earnings • Apr 05
Full year 2020 earnings released: EPS kr4.88 (vs kr3.86 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr3.81b (up 11% from FY 2019). Net income: kr163.0m (up 26% from FY 2019). Profit margin: 4.3% (up from 3.8% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 04
Full year 2020 earnings released: EPS kr4.88 (vs kr3.86 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr3.81b (up 11% from FY 2019). Net income: kr163.0m (up 26% from FY 2019). Profit margin: 4.3% (up from 3.8% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Jan 05
New 90-day high: €27.90 The company is up 41% from its price of €19.76 on 07 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 IT industry, which is down 17% over the same period. Announcement • Dec 18
Addnode Group AB (Publ) Announces Board Changes Addnode Group announced that Magnus Falkman will take over as CEO of TECHNIA and as Division President for Product Lifecycle Management on January 1, 2021. Magnus Falkman has the combination of leadership, business acumen and international experience required for the assignment as CEO of TECHNIA. He has been involved in defining the company's strategy and is the right person to now take over and lead the continued global expansion. Magnus is a strong leader who knows TECHNIA and the industry as a long-term employee and member of the company management, says Johan Andersson, President and CEO of Addnode Group. Is New 90 Day High Low • Dec 09
New 90-day high: €24.95 The company is up 28% from its price of €19.56 on 10 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 15% over the same period. Is New 90 Day High Low • Nov 09
New 90-day high: €23.50 The company is up 24% from its price of €18.90 on 11 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 22% over the same period. Announcement • Nov 04
Addnode Group Appoints Members of the Nomination Committee In accordance with the decision of Addnode Group's Annual General Meeting on May 7, 2020, the members of the Nomination Committee are hereby announced and will remain as composed until a new Nomination Committee has been appointed in accordance with the mandate of the next Annual General Meeting. The Nomination Committee has the following composition: Jonas Gejer, appointed by Aretro Capital Group AB. Jonas Gejer is the chairman of the Nomination Committee as the representative of the owner with the majority of the votes. Hans Christian Bratterud, appointed by Odin Fonder. Marianne Nilsson, appointed by Swedbank Robur Fonder. Robert Vicsai, appointed by SEB Investment Management. Staffan Hanstorp, chairman of Addnode Group's Board of Directors. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total profits of kr158.0m, up 8.4% from the prior year. Total revenue was kr3.82b over the last 12 months, up 14% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 24
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 1.9% at kr806.0m. Revenue is forecast to grow 12% over the next year, compared to a 8.7% growth forecast for the IT industry in Germany. Is New 90 Day High Low • Oct 24
New 90-day high: €21.65 The company is up 12% from its price of €19.30 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 19% over the same period. 
