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Northern Bitcoin

MUN:NB2
Snowflake Description

Moderate growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NB2
MUN
€132M
Market Cap
  1. Home
  2. DE
  3. Software
Company description

Northern Bitcoin AG operates as a bitcoin mining company. The last earnings update was 90 days ago. More info.


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NB2 Share Price and Events
7 Day Returns
0%
MUN:NB2
1.3%
DE Software
-0.4%
DE Market
1 Year Returns
122.5%
MUN:NB2
-7.6%
DE Software
-19.5%
DE Market
NB2 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Northern Bitcoin (NB2) 0% 0% -3.3% 122.5% 16.3% -
DE Software 1.3% -5.2% -18.1% -7.6% 19.5% 44.9%
DE Market -0.4% -6.5% -13.4% -19.5% -7.9% 0.5%
1 Year Return vs Industry and Market
  • NB2 outperformed the Software industry which returned -7.6% over the past year.
  • NB2 outperformed the Market in Germany which returned -19.5% over the past year.
Price Volatility
NB2
Industry
5yr Volatility vs Market

Value

 Is Northern Bitcoin undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Northern Bitcoin to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Northern Bitcoin.

MUN:NB2 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for MUN:NB2
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 9.5%
Software Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.954 (1 + (1- 30%) (0.51%))
0.958
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.54% + (0.958 * 9.46%)
9.6%

Discounted Cash Flow Calculation for MUN:NB2 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Northern Bitcoin is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

MUN:NB2 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 17.60 80.90 122.60 153.80 178.41
Source Analyst x1 Analyst x1 Analyst x1 Analyst x1 Est @ 16%, capped from 141.52%
Present Value
Discounted (@ 9.6%)
16.06 67.35 93.12 106.59 112.82
Present value of next 5 years cash flows €395.94
MUN:NB2 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €178.41 × (1 + 0.54%) ÷ (9.6% – 0.54%)
€1,980.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €1,980.43 ÷ (1 + 9.6%)5
€1,252.33
MUN:NB2 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €395.94 + €1,252.33
€1,648.27
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,648.27 / 7.44
€221.5
MUN:NB2 Discount to Share Price
Calculation Result
Value per share (EUR) From above. €221.50
Current discount Discount to share price of €17.80
= -1 x (€17.80 - €221.50) / €221.50
92%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Northern Bitcoin is available for.
Intrinsic value
>50%
Share price is €17.8 vs Future cash flow value of €221.5
Current Discount Checks
For Northern Bitcoin to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Northern Bitcoin's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Northern Bitcoin's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Northern Bitcoin's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Northern Bitcoin's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MUN:NB2 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €-0.24
MUN:NB2 Share Price ** MUN (2018-10-02) in EUR €17.8
Germany Software Industry PE Ratio Median Figure of 23 Publicly-Listed Software Companies 33.81x
Germany Market PE Ratio Median Figure of 419 Publicly-Listed Companies 16.34x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Northern Bitcoin.

MUN:NB2 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= MUN:NB2 Share Price ÷ EPS (both in EUR)

= 17.8 ÷ -0.24

-72.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Northern Bitcoin is loss making, we can't compare its value to the DE Software industry average.
  • Northern Bitcoin is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Northern Bitcoin's expected growth come at a high price?
Raw Data
MUN:NB2 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -72.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
Not available
Germany Software Industry PEG Ratio Median Figure of 17 Publicly-Listed Software Companies 1.2x
Germany Market PEG Ratio Median Figure of 279 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Northern Bitcoin, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Northern Bitcoin's assets?
Raw Data
MUN:NB2 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €0.46
MUN:NB2 Share Price * MUN (2018-10-02) in EUR €17.8
Germany Software Industry PB Ratio Median Figure of 32 Publicly-Listed Software Companies 2.76x
Germany Market PB Ratio Median Figure of 568 Publicly-Listed Companies 1.68x
MUN:NB2 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= MUN:NB2 Share Price ÷ Book Value per Share (both in EUR)

= 17.8 ÷ 0.46

38.99x

* Primary Listing of Northern Bitcoin.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Northern Bitcoin is overvalued based on assets compared to the DE Software industry average.
X
Value checks
We assess Northern Bitcoin's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. Northern Bitcoin has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Northern Bitcoin expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
54.9%
Expected annual growth in revenue.
Earnings growth vs Low Risk Savings
Is Northern Bitcoin expected to grow at an attractive rate?
  • Unable to compare Northern Bitcoin's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Northern Bitcoin's earnings growth to the Germany market average as no estimate data is available.
  • Northern Bitcoin's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
MUN:NB2 Future Growth Rates Data Sources
Data Point Source Value (per year)
MUN:NB2 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 54.9%
Germany Software Industry Earnings Growth Rate Market Cap Weighted Average 14%
Germany Software Industry Revenue Growth Rate Market Cap Weighted Average 8.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 10.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
MUN:NB2 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MUN:NB2 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 274 179 1
2021-12-31 218 143 1
2020-12-31 147 96 1
2019-12-31 63 28 1
2018-12-31 5 0 1
MUN:NB2 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 1 -2
2018-03-31 1 -1
2017-12-31 0 -1
2016-12-31 0 -1
2015-12-31 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Northern Bitcoin is high growth as no earnings estimate data is available.
  • Northern Bitcoin's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
MUN:NB2 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Northern Bitcoin Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:NB2 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31
2018-12-31
MUN:NB2 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 -0.24
2018-03-31 -0.17
2017-12-31 -0.31
2016-12-31 -0.51
2015-12-31 -0.72

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Northern Bitcoin is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Northern Bitcoin's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Northern Bitcoin has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Northern Bitcoin performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Northern Bitcoin's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Northern Bitcoin does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Northern Bitcoin's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Northern Bitcoin's 1-year growth to the DE Software industry average as it is not currently profitable.
Earnings and Revenue History
Northern Bitcoin's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Northern Bitcoin Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MUN:NB2 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 1.13 -1.82 0.46
2018-03-31 0.59 -1.26 0.42
2017-12-31 0.05 -0.70 0.38
2016-12-31 0.01 -1.04 0.57
2015-12-31 -1.47 0.50
2014-12-31 -0.09 0.06
2013-12-31 -0.00
2012-12-31 -0.00
2011-12-31 -0.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Northern Bitcoin has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Northern Bitcoin has efficiently used its assets last year compared to the DE Software industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Northern Bitcoin improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Northern Bitcoin's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Northern Bitcoin has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Northern Bitcoin's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Northern Bitcoin's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Northern Bitcoin's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Northern Bitcoin's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Northern Bitcoin's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 11.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Northern Bitcoin Company Filings, last reported 6 months ago.

MUN:NB2 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 3.40 0.67 5.17
2018-03-31 3.40 0.67 5.17
2017-12-31 0.57 0.59 0.79
2016-12-31 0.00 0.45 0.03
2015-12-31 0.49 0.00 0.70
2014-12-31 0.00 0.00 0.03
2013-12-31 0.05 0.00 0.00
2012-12-31 0.05 0.00 0.00
2011-12-31 0.05 0.00 0.00
  • Northern Bitcoin's level of debt (19.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 19.8% today).
  • Unable to verify if debt is well covered by operating cash flow as Northern Bitcoin has not reported sufficient balance sheet data.
  • Northern Bitcoin is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Northern Bitcoin's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Northern Bitcoin has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Northern Bitcoin's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Northern Bitcoin dividends. Estimated to be 8.2% next year.
If you bought €2,000 of Northern Bitcoin shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Northern Bitcoin's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Northern Bitcoin's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
MUN:NB2 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Germany Software Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 1.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 329 Stocks 3.3%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

MUN:NB2 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 3.10 1.00
2021-12-31 2.50 1.00
2020-12-31 1.70 1.00
2019-12-31 0.00 1.00
2018-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Northern Bitcoin has not reported any payouts.
  • Unable to verify if Northern Bitcoin's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Northern Bitcoin's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Northern Bitcoin has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (6.4x coverage).
X
Income/ dividend checks
We assess Northern Bitcoin's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Northern Bitcoin afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Northern Bitcoin has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Northern Bitcoin's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Klaus Wilgenbus
AGE 56
TENURE AS CEO 2.4 years
CEO Bio

Mr. Klaus K. Wilgenbus has been the Chairman of the Management Board and Chief Executive Officer at AMP Biosimilars AG since July 1, 2016. Mr. Wilgenbus serves as a Senior Vice President of PM, Business Development, Licensing & Strategy at Boehringer Ingelheim GmbH. He served as Consultant of Karolinska Development AB (publ) since October 15, 2014 until December 31st 2014. He served as an Acting Chief Executive Officer at Karolinska Development AB (publ) from 2014 to October 15, 2014. During his 18 year tenure at BI he held various positions covering Business Development, R&D, innovation management, corporate and commercial strategy and organizational development. Under his leadership BI has entered into more than 200 strategic transactions incl. R&D collaborations, global co-promotion and co-marketing alliances, JV's and merger and acquisitions with business partners from North-America, EU and Asia. Mr. Wilgenbus held several management positions within Boehringer Ingelheim GmbH, including Senior Vice President Licensing, Vice President R&D Licensing and Director for Exploratory Research in Oncology of Boehringer Ingelheim’s R&D Centre in Vienna as well as academic research at Stanford University and the German Cancer Research Centre, Heidelberg. He served as a Director of Karolinska Development AB (publ) since 2012. He also served on various boards such as Karolinska Development AB (Solna Sweden), Actimis Inc. (San Diego) and Boehringer Ingelheim Deutschland GmbH & Co KG and represented BI at the Board of (US) BIO. He was trained as a physician in Germany and the US and holds an MD from RWTH Aachen.

CEO Compensation
  • Insufficient data for Klaus to compare compensation growth.
  • Insufficient data for Klaus to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure of the Northern Bitcoin management team in years:

1.6
Average Tenure
  • The average tenure for the Northern Bitcoin management team is less than 2 years, this suggests a new team.
Management Team

Klaus Wilgenbus

TITLE
Chairman of the Management Board and Chief Executive Officer
AGE
56
TENURE
2.4 yrs

Mathis Schultz

TITLE
Chief Financial Officer
TENURE
1.6 yrs

Marc Bronietzki

TITLE
Vice President of Business Development - Europe
TENURE
1.6 yrs

Toni Chen

TITLE
Vice President of Business Development - China
TENURE
1.6 yrs
Board of Directors

Stefan Elsser

TITLE
Chairman of Supervisory Board
TENURE
1.7 yrs

Simon Nebel

TITLE
Vice Chairman of Supervisory Board
AGE
52
TENURE
1.6 yrs

Bernd Hartmann

TITLE
Member of Supervisory Board

Rolf Werner

TITLE
Member of Scientific Board

Holger Ziehr

TITLE
Member of Scientific Board

Xavier Luria

TITLE
Member of Scientific Board
AGE
61
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Northern Bitcoin's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Northern Bitcoin has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Can Northern Bitcoin AG (MUN:NB2) Improve Your Portfolio Returns?

Northern Bitcoin has a beta of 8.6, which means that the percentage change in its stock value will be higher than the entire market in times of booms and busts. … A high level of beta means investors face higher risk associated with potential gains and losses driven by market movements. … How NB2's assets could affect its beta An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive.

Simply Wall St -

Company Info

Map
Description

Northern Bitcoin AG operates as a bitcoin mining company. It is involved in the field of information technology to build the blockchain infrastructure for the bitcoin network. Northern Bitcoin AG has a strategic cooperation agreement with Growfund, Inc. to operate in the areas of cryptowallet, Bitcoin mining, and crypto-exchange. The company was formerly known as Biosilu Healthcare AG and changed its name to Northern Bitcoin AG in January 2018. Northern Bitcoin AG is based in Frankfurt, Germany.

Details
Name: Northern Bitcoin AG
NB2
Exchange: MUN
Founded:
€132,458,700
7,441,500
Website: http://www.northernbitcoin.com
Address: Northern Bitcoin AG
Thurn-und-Taxis-Platz 6,
Frankfurt,
Hessen, 60313,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MUN NB2 Bearer Shares Boerse Muenchen DE EUR 01. Apr 2015
DB NB2 Bearer Shares Deutsche Boerse AG DE EUR 01. Apr 2015
Number of employees
Current staff
Staff numbers
3
Northern Bitcoin employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/30 23:05
End of day share price update: 2018/10/02 00:00
Last estimates confirmation: 2018/09/27
Last earnings filing: 2018/10/01
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.