Announcement • Feb 13
Bouvet ASA Proposes Cash Dividend for the Financial Year 2025, Payment Date Is 27 May 2026 The Board of Directors of Bouvet ASA has decided to propose a cash dividend of NOK 3.00 per share for the financial year 2025. The formal dividend resolution will be made at the company's Annual General Meeting, which will be held on 13 May 2026. Ex-date: 15 May 2026; Record date: 18 May 2026; Payment date: 27 May 2026; Date of approval: 13 May 2026. Announcement • Feb 04
Bouvet ASA to Report Fiscal Year 2025 Results on Apr 15, 2026 Bouvet ASA announced that they will report fiscal year 2025 results at 9:00 AM, Central European Standard Time on Apr 15, 2026 Announcement • Dec 17
Bouvet ASA, Annual General Meeting, May 13, 2026 Bouvet ASA, Annual General Meeting, May 13, 2026. Announcement • Oct 06
Bouvet ASA to Report Q4, 2025 Results on Feb 13, 2026 Bouvet ASA announced that they will report Q4, 2025 results on Feb 13, 2026 Announcement • Feb 27
Bouvet ASA (OB:BOUV) announces an Equity Buyback for 1,000,000 shares, for NOK 90 million. Bouvet ASA (OB:BOUV) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares for NOK 90 million. The repurchased shares will be used in its share program for employees. The program will end no later than October 10, 2025. As of February 25, 2025, the company has 318,632 shares in treasury. Announcement • Dec 13
Bouvet ASA, Annual General Meeting, May 07, 2025 Bouvet ASA, Annual General Meeting, May 07, 2025. Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: kr0.76 (vs kr0.61 in 3Q 2023) Third quarter 2024 results: EPS: kr0.76 (up from kr0.61 in 3Q 2023). Revenue: kr878.5m (up 13% from 3Q 2023). Net income: kr77.9m (up 23% from 3Q 2023). Profit margin: 8.9% (up from 8.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the IT 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 fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Sep 01
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €2.0m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Aug 30
Director recently sold €172k worth of stock On the 27th of August, Sverre Hurum sold around 30k shares on-market at roughly €5.73 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.1m more than they bought in the last 12 months. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: kr1.01 (vs kr0.67 in 2Q 2023) Second quarter 2024 results: EPS: kr1.01 (up from kr0.67 in 2Q 2023). Revenue: kr1.00b (up 20% from 2Q 2023). Net income: kr104.4m (up 50% from 2Q 2023). Profit margin: 10% (up from 8.3% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the IT 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 fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Aug 20
Bouvet ASA to Report Q2, 2024 Results on Aug 27, 2024 Bouvet ASA announced that they will report Q2, 2024 results on Aug 27, 2024 Board Change • Jun 02
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. 3 highly experienced directors. Director Sverre Hurum 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. Upcoming Dividend • May 16
Upcoming dividend of kr2.60 per share Eligible shareholders must have bought the stock before 23 May 2024. Payment date: 07 June 2024. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.3%). Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: kr3.15 (vs kr3.06 in FY 2022) Full year 2023 results: EPS: kr3.15 (up from kr3.06 in FY 2022). Revenue: kr3.53b (up 14% from FY 2022). Net income: kr325.4m (up 3.1% from FY 2022). Profit margin: 9.2% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% 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 12% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 26
Final dividend of kr2.60 announced Shareholders will receive a dividend of kr2.60. Ex-date: 23rd May 2024 Payment date: 7th June 2024 Dividend yield will be 48%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (83% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 18
Full year 2023 earnings released: EPS: kr3.15 (vs kr3.06 in FY 2022) Full year 2023 results: EPS: kr3.15 (up from kr3.06 in FY 2022). Revenue: kr3.53b (up 14% from FY 2022). Net income: kr325.4m (up 3.1% from FY 2022). Profit margin: 9.2% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 2 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 12% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 16
Bouvet ASA Proposes Payment of Cash Dividend for the Financial Year 2023, Payable on June 7, 2024 The board of directors of Bouvet ASA has decided to propose payment of cash dividend of NOK 2.60 (NOK 2,50) per share for the financial year 2023, due for payment first half 2024. The proposal will be considered at the annual general meeting 22 May 2024. Dividend payable on June 7, 2024, record date of May 24, 2024 and ex-date of May 23, 2024. Buying Opportunity • Nov 30
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 1.7%. The fair value is estimated to be €6.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 9.2% in the next 2 years. New Risk • Nov 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 41% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (41% accrual ratio). Minor Risk Dividend is not well covered by cash flows (94% cash payout ratio). Announcement • Nov 09
Bouvet ASA Declares Cash Dividend, Payable on 22 November 2023 Bouvet ASA declared cash dividend of NOK 0.55 per share, payable on 22 November 2023 with last day including right date of 10 November 2023, Ex-date of 13 November 2023 and Record date of 14 November 2023. Recent Insider Transactions • Oct 05
Director recently sold €495k worth of stock On the 2nd of October, Sverre Hurum sold around 100k shares on-market at roughly €4.95 per share. This transaction amounted to 2.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €395k more than they bought in the last 12 months. Announcement • Sep 12
Bouvet ASA (OB:BOUV) signed an agreement to acquire Headit As. Bouvet ASA (OB:BOUV) signed an agreement to acquire Headit As on September 11, 2023.The agreement will take effect from October 2, 2023. Bouvet is purchasing all the shares in Headit AS for a combination of cash and shares in the acquiring company. Reported Earnings • Sep 03
Second quarter 2023 earnings released: EPS: kr0.67 (vs kr0.68 in 2Q 2022) Second quarter 2023 results: EPS: kr0.67 (down from kr0.68 in 2Q 2022). Revenue: kr833.0m (up 14% from 2Q 2022). Net income: kr69.4m (flat on 2Q 2022). Profit margin: 8.3% (down from 9.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the IT industry in Germany. Upcoming Dividend • May 17
Upcoming dividend of kr2.50 per share at 3.7% yield Eligible shareholders must have bought the stock before 24 May 2023. Payment date: 08 June 2023. Payout ratio and cash payout ratio are on the higher end at 82% and 85% respectively. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.2%). Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: kr3.06 (vs kr2.58 in FY 2021) Full year 2022 results: EPS: kr3.06 (up from kr2.58 in FY 2021). Revenue: kr3.09b (up 14% from FY 2021). Net income: kr315.7m (up 19% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Announcement • Feb 18
Bouvet ASA Proposes Cash Dividend for the Financial Year 2022, Payable on 8 June 2023 The board of directors of Bouvet ASA has decided to propose payment of cash dividend of NOK 2.50 per share for the financial year 2022. The proposal will be considered at the annual general meeting 23 May 2023. Ex-date is 24 May 2023. Record date is 25 May 2023. Payment date is 8 June 2023. Reported Earnings • Feb 18
Full year 2022 earnings released: EPS: kr3.06 (vs kr2.58 in FY 2021) Full year 2022 results: EPS: kr3.06 (up from kr2.58 in FY 2021). Revenue: kr3.09b (up 14% from FY 2021). Net income: kr315.7m (up 19% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the IT industry in Germany. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: kr0.55 (vs kr0.45 in 3Q 2021) Third quarter 2022 results: EPS: kr0.55 (up from kr0.45 in 3Q 2021). Revenue: kr699.4m (up 20% from 3Q 2021). Net income: kr56.6m (up 23% from 3Q 2021). Profit margin: 8.1% (up from 7.9% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the IT industry in Germany. Reported Earnings • Nov 12
Third quarter 2022 earnings released: EPS: kr0.55 (vs kr0.45 in 3Q 2021) Third quarter 2022 results: EPS: kr0.55 (up from kr0.45 in 3Q 2021). Revenue: kr699.4m (up 20% from 3Q 2021). Net income: kr56.6m (up 23% from 3Q 2021). Profit margin: 8.1% (up from 7.9% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the IT industry in Germany. Announcement • Nov 11
Bouvet ASA Declares Dividend, Payable on 23 November 2022 Bouvet ASA declared dividend of NOK 0.50 per share, payable on 23 November 2022 with last day including right date of 11 November 2022, Ex-date of 14 November 2022 and Record date of 15 November 2022. Recent Insider Transactions • Oct 14
Independent Chairman recently bought €53k worth of stock On the 6th of October, Pal Ronn bought around 10k shares on-market at roughly €5.34 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth €1.1m. This was Pal's only on-market trade for the last 12 months. Recent Insider Transactions • Sep 13
Independent Director recently bought €1.1m worth of stock On the 9th of September, Egil Dahl bought around 200k shares on-market at roughly €5.64 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.2m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: kr0.68 (vs kr0.63 in 2Q 2021) Second quarter 2022 results: EPS: kr0.68 (up from kr0.63 in 2Q 2021). Revenue: kr734.9m (up 8.7% from 2Q 2021). Net income: kr69.7m (up 8.1% from 2Q 2021). Profit margin: 9.5% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 13% growth forecast for the IT industry in Germany. Upcoming Dividend • May 13
Upcoming dividend of kr2.30 per share Eligible shareholders must have bought the stock before 20 May 2022. Payment date: 01 June 2022. Payout ratio is on the higher end at 89%, and the cash payout ratio is above 100%. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.2%). Higher than average of industry peers (1.5%). Buying Opportunity • May 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 7.8%. The fair value is estimated to be €8.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings is also forecast to grow by 9.4% per annum over the same time period. Reported Earnings • May 01
Full year 2021 earnings released: EPS: kr2.58 (vs kr2.35 in FY 2020) Full year 2021 results: EPS: kr2.58 (up from kr2.35 in FY 2020). Revenue: kr2.70b (up 12% from FY 2020). Net income: kr265.5m (up 10% from FY 2020). Profit margin: 9.9% (in line with FY 2020). Over the next year, revenue is forecast to grow 12%, compared to a 19% growth forecast for the industry in Germany. Buying Opportunity • Mar 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.7%. The fair value is estimated to be kr8.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% per annum over the last 3 years. Earnings per share has grown by 18% per annum over the last 3 years. Announcement • Mar 01
Bouvet ASA (OB:BOUV) announces an Equity Buyback for 800,000 shares, for NOK 72 million. Bouvet ASA (OB:BOUV) announces a share repurchase program. Under the program, the company will repurchase up to 800,000 shares for NOK 72 million. The repurchased shares will be used in its share program for employees. The program will end no later than September 30, 2022. Buying Opportunity • Feb 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be kr8.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% per annum over the last 3 years. Earnings per share has grown by 18% per annum over the last 3 years. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr2.58 (up from kr2.35 in FY 2020). Revenue: kr2.70b (up 12% from FY 2020). Net income: kr265.5m (up 10% from FY 2020). Profit margin: 9.9% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 12%, compared to a 17% growth forecast for the industry in Germany. Announcement • Feb 17
Bouvet ASA Proposes Cash Dividend for the Financial Year 2021, Payable on 1 June 2022 The board of directors of Bouvet ASA has decided to propose payment of cash dividend of NOK 2.30 per share for the financial year 2021. The proposal will be considered at the annual general meeting 19 May 2022. Ex-date is 20 May 2022. Record date is 23 May 2022. Payment date is 1 June 2022. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS kr0.45 (vs kr0.41 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: kr583.6m (up 13% from 3Q 2020). Net income: kr46.1m (up 10.0% from 3Q 2020). Profit margin: 7.9% (down from 8.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improved over the past week After last week's 15% share price gain to €7.69, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 31x in the IT industry in Germany. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS kr0.63 (vs kr0.64 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: kr676.0m (up 13% from 2Q 2020). Net income: kr64.5m (down 1.5% from 2Q 2020). Profit margin: 9.5% (down from 11% in 2Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • May 22
First quarter 2021 earnings released: EPS kr6.75 (vs kr6.31 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: kr695.9m (up 8.5% from 1Q 2020). Net income: kr69.4m (up 7.3% from 1Q 2020). Profit margin: 10.0% (in line with 1Q 2020). Reported Earnings • Apr 25
Full year 2020 earnings released: EPS kr23.52 (vs kr17.61 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr2.40b (up 13% from FY 2019). Net income: kr241.1m (up 34% from FY 2019). Profit margin: 10.0% (up from 8.4% in FY 2019). The increase in margin was driven by higher revenue.