Announcement • Jan 25
Mintra Holding AS Appoints Gustav Martinsen as New Member of the Board of Directors Mintra Holding AS at its extraordinary general meeting held on 24 January 2024, resolved to elect Gustav Martinsen as a new member of the board of directors of the company. Consequently, Mintra's board of directors will consist of the following members: Rúni M. Hansen, chair, Nils Jegstad, board member, Gustav Martinsen, board member (new), Torfinn Kildal, board member, Ketil Toska, board member (employee representative), Tom Ormberg, observer (employee representative), Silje Opsal, deputy member (employee representative) and Morten Broch, deputy observer (employee representative). Announcement • Nov 25
Ferd AS and Tjaldur Holdco II AS entered into an agreement to acquire remaining 28.5% stake in Mintra Holding AS (OB:MNTR) for approximately NOK 220 million. Ferd AS and Tjaldur Holdco II AS entered into an agreement to acquire remaining 28.5% stake in Mintra Holding AS (OB:MNTR) for approximately NOK 220 million on November 23, 2023. The shareholders of Mintra will receive a cash offer of NOK 3.50 per share. Prior to this transaction, Ferd and Tjaldur hold a 71.5% stake in Mintra and upon completion of all remaining shares will hold 100% stake in it. The offeror intends to make a compulsory acquisition of the remaining shares in Mintra following settlement of the offer. The offer is subject to customary conditions, including a minimum acceptance level of 90%, regulatory approvals, Mintra having obtained consents required from creditors under its bank financing agreements and no material adverse change having occurred. The offer will not be conditional on financing or further due diligence. The offer is expected to be completed during Q1 2024.
Nordea Bank Abp, filial i Norge is acting as financial advisor to Ferd and Tjaldur in connection with the offer. Wikborg Rein Advokatfirma AS is acting as legal advisor to Ferd and Advokatfirmaet CLP DA is acting as legal advisor to Tjaldur. Announcement • Aug 11
Mintra Holding AS has completed a Follow-on Equity Offering in the amount of NOK 109.999998 million. Mintra Holding AS has completed a Follow-on Equity Offering in the amount of NOK 109.999998 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 36,666,666
Price\Range: NOK 3
Transaction Features: Regulation S; Subsequent Direct Listing Reported Earnings • Aug 09
First half 2023 earnings released: EPS: kr0.12 (vs kr0.15 in 1H 2022) First half 2023 results: EPS: kr0.12 (down from kr0.15 in 1H 2022). Revenue: kr144.9m (up 16% from 1H 2022). Net income: kr22.3m (down 20% from 1H 2022). Profit margin: 15% (down from 22% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Software industry in Germany. New Risk • Jul 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Dividend per share is over 5x earnings per share. Cash payout ratio: 476% Earnings are forecast to decline by an average of 9.5% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (€48.1m market cap, or US$53.5m). Announcement • Jul 06
Mintra Holding AS (OB:MNTR) entered into a definite Sale and Purchase Agreement to acquire Seably Ab for SEK 65 million. Mintra Holding AS (OB:MNTR) entered into a definite Sale and Purchase Agreement to acquire Seably Ab for SEK 65 million on July 4, 2023. The purchase price for the Acquisition is based on an enterprise value of approximately SEK 79.7 million and an equity value of SEK 65 million. The purchase price for the Acquisition will be financed as follows: (i) Approximately NOK 3.81 million (SEK 3.875 million) by issuing approximately 1.27 million consideration shares in the Company at a subscription price equal to NOK 3.00(SEK 3.02724) (the "Consideration Shares"), and (ii) the remaining amount from existing financing facilities and cash from the Company's balance sheet. If the Consideration Shares are not issued by 31 October 2023, the Company is obliged to pay the amount in cash. Formal closing of the Acquisition is expected to take place ultimo August/primo September 2023. Advokatfirmaet BAHR AS is acting as legal advisor and Deloitte AS as financial and tax due diligence advisor to Mintra Holding in this transaction. Announcement • Jun 14
Mintra Holding AS to Report Q4, 2023 Results on Feb 13, 2024 Mintra Holding AS announced that they will report Q4, 2023 results on Feb 13, 2024 Reported Earnings • Apr 30
Full year 2022 earnings released: EPS: kr0.19 (vs kr0.09 in FY 2021) Full year 2022 results: EPS: kr0.19 (up from kr0.09 in FY 2021). Revenue: kr247.6m (up 3.7% from FY 2021). Net income: kr35.6m (up 112% from FY 2021). Profit margin: 14% (up from 7.0% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Software industry in Germany. Buying Opportunity • Mar 07
Now 30% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be €0.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.6% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Reported Earnings • Feb 09
Full year 2022 earnings released: EPS: kr0.19 (vs kr0.09 in FY 2021) Full year 2022 results: EPS: kr0.19 (up from kr0.09 in FY 2021). Revenue: kr247.6m (up 3.7% from FY 2021). Net income: kr35.6m (up 112% from FY 2021). Profit margin: 14% (up from 7.0% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Software industry in Germany. Announcement • Feb 09
Mintra Holding AS Proposes the Cash Dividend Payable on or About 14 March 2023 Mintra Holding AS proposed the Cash Dividend of NOK 1.75 per share payable on or about 14 March 2023. Ex-date: 7 March 2023. Record date: 8 March 2023. Date of approval: 6 March 2023. The dividend is subject to approval by the extraordinary general meeting of Mintra Holding AS to be held on 6 March 2023. Announcement • Dec 26
Mintra Holding AS, Annual General Meeting, May 25, 2023 Mintra Holding AS, Annual General Meeting, May 25, 2023. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Vice Chairman Scott Kerr was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Aug 16
Mintra Holding as Appoints Jostein R. Hufthammer as the Group's New Chief Financial Officer Mintra Holding AS appointed Jostein R. Hufthammer as the group's new Chief Financial Officer (CFO) with effect from 15th August 2022. Mr. Hufthammer has more than 27 years of experience in financial positions within Marine, Audit and Accounting industries, focusing on compliance, M&A and financing. He was most recently SVP Finance (GCA) of TTS Group; a global equipment solutions provider for the maritime industry and publicly listed on the Oslo Stock Exchange. Prior to TTS Group, Mr. Hufthammer was Chief Financial Officer at Profitek and VP Finance (GCA) at DOF Subsea, following positions as Senior Auditor at Deloitte, Senior Business Advisor at Økonomihuset and various management roles at Regnskap og økonomitjenester. Mr. Hufthammer has an McS in Business Administration from the Nord University and an MBA in Auditing & Accounting from the Norwegian School of Economics. Reported Earnings • Aug 12
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr62.6m (up 1.3% from 2Q 2021). Net income: kr18.0m (up 147% from 2Q 2021). Profit margin: 29% (up from 12% in 2Q 2021). The increase in margin was primarily driven by lower expenses. Over the next year, revenue is forecast to grow 7.3%, compared to a 7.8% growth forecast for the industry in Germany. Announcement • Jul 01
Mintra Holding AS Announces Updates to Chief Financial Officer Changes Reference is made to the announcement dated 16 March 2022, where the Mintra Holding AS announced that Torbjørn Blomagen had decidided to resign from his role as CFO and that he would remain in his position until a successor was in place, or until 16 June 2022 at the latest. Since then, Mintra is actively searching for a suitable successor, Blom-Hagen has agreed to remain Mintra's CFO until 31 August 2022. Reported Earnings • May 05
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr62.0m (up 3.3% from 1Q 2021). Net income: kr9.70m (up kr8.88m from 1Q 2021). Profit margin: 16% (up from 1.4% in 1Q 2021). Over the next year, revenue is forecast to grow 6.6%, compared to a 14% growth forecast for the industry in Germany. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Vice Chairman Scott Kerr was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr0.095 (up from kr0.026 in FY 2020). Revenue: kr239.9m (up 17% from FY 2020). Net income: kr17.7m (up 366% from FY 2020). Profit margin: 7.4% (up from 1.8% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 2.5%, compared to a 14% growth forecast for the industry in Germany. Reported Earnings • Nov 19
Third quarter 2021 earnings released: EPS kr0.033 (vs kr0.023 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr57.7m (up 17% from 3Q 2020). Net income: kr6.17m (up kr10.4m from 3Q 2020). Profit margin: 11% (up from net loss in 3Q 2020). Reported Earnings • Aug 18
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: kr61.8m (up 21% from 2Q 2020). Net income: kr7.25m (down 75% from 2Q 2020). Profit margin: 12% (down from 56% in 2Q 2020). Reported Earnings • May 14
First quarter 2021 earnings released: EPS kr0.004 (vs kr0.046 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr60.0m (up 6.9% from 1Q 2020). Net income: kr825.0k (up kr19.2m from 1Q 2020). Profit margin: 1.4% (up from net loss in 1Q 2020). The move to profitability was primarily driven by lower expenses. Announcement • Feb 19
Mintra Holding AS (OB:MNTR) acquired Safebridge GmbH for €5.9 million. Mintra Holding AS (OB:MNTR) acquired Safebridge GmbH for €5.9 million on February 18, 2021. In 2020, Safebridge reported a total revenues of €3.5 million.
Mintra Holding AS (OB:MNTR) completed the acquisition of Safebridge GmbH for €5.9 million on February 18, 2021.