Magnora Management

Management criteria checks 2/4

Magnora's CEO is Erik Sneve, appointed in Apr 2019, has a tenure of 5.5 years. total yearly compensation is NOK7.29M, comprised of 39.6% salary and 60.4% bonuses, including company stock and options. directly owns 1.81% of the company’s shares, worth €2.37M. The average tenure of the management team and the board of directors is 3.6 years and 6.4 years respectively.

Key information

Erik Sneve

Chief executive officer

NOK 7.3m

Total compensation

CEO salary percentage	39.6%
CEO tenure	5.5yrs
CEO ownership	1.8%
Management average tenure	3.6yrs
Board average tenure	6.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Erik Sneve's remuneration changed compared to Magnora's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	NOK 36m
Mar 31 2024	n/a	n/a	NOK 179m
Dec 31 2023	NOK 7m	NOK 3m	NOK 193m
Sep 30 2023	n/a	n/a	NOK 247m
Jun 30 2023	n/a	n/a	NOK 249m
Mar 31 2023	n/a	n/a	NOK 38m
Dec 31 2022	NOK 5m	NOK 2m	NOK 13m
Sep 30 2022	n/a	n/a	-NOK 71m
Jun 30 2022	n/a	n/a	-NOK 71m
Mar 31 2022	n/a	n/a	-NOK 73m
Dec 31 2021	NOK 5m	NOK 2m	-NOK 63m
Sep 30 2021	n/a	n/a	-NOK 27m
Jun 30 2021	n/a	n/a	-NOK 4m
Mar 31 2021	n/a	n/a	NOK 18m
Dec 31 2020	NOK 5m	NOK 2m	NOK 29m
Sep 30 2020	n/a	n/a	NOK 27m
Jun 30 2020	n/a	n/a	NOK 25m
Mar 31 2020	n/a	n/a	NOK 15m
Dec 31 2019	NOK 2m	NOK 2m	NOK 20m

Compensation vs Market: Erik's total compensation ($USD684.54K) is above average for companies of similar size in the German market ($USD501.82K).

Compensation vs Earnings: Erik's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Erik Sneve

5.5yrs

Tenure

NOK 7,291,000

Compensation

Mr. Erik Daylemani Sneve serves as Investment Manager in Energy Future Invest, an investment company focusing on the energy sector. Mr. Sneve work experience includes investment banking, general management...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Torstein Sanness	Executive Chairman	7.4yrs	NOK 1.21m	1.02% NOK 1.3m
Erik Sneve	Chief Executive Officer	5.5yrs	NOK 7.29m	1.81% NOK 2.4m
Bard Olsen	Chief Financial Officer	5.1yrs	NOK 3.38m	0.11% NOK 150.1k
Haakon Alfstad	Chief Executive Officer of Magnora Offshore Wind	3.6yrs	no data	0.17% NOK 222.5k
Hanne Wiger	Business Controller	1.8yrs	no data	0.0068% NOK 8.9k
Trond Gartner	Senior Vice President of Business Development	3yrs	no data	0.011% NOK 14.0k

3.6yrs

Average Tenure

Experienced Management: 4SM's management team is considered experienced (3.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Torstein Sanness	Executive Chairman	7.4yrs	NOK 1.21m	1.02% NOK 1.3m
John Hamilton	Director	5.8yrs	NOK 370.00k	0.052% NOK 67.7k
Hilde Adland	Director	6.4yrs	NOK 310.00k	0.060% NOK 78.1k

6.4yrs

Average Tenure

59yo

Average Age

Experienced Board: 4SM's board of directors are considered experienced (6.4 years average tenure).

Magnora Management

Management criteria checks 2/4

Key information

Recent management updates

Executive Chairman recently bought €21k worth of stock

No independent directors

Magnora ASA, Annual General Meeting, Apr 23, 2024

Executive Chairman recently bought €94k worth of stock

Magnora ASA, Annual General Meeting, Apr 25, 2023

No independent directors

Recent updates

Magnora ASA (OB:MGN) commences an Equity Buyback Plan for 6,575,183 shares, representing 10% of its issued share capital, under the authorization approved on April 23, 2024.

Executive Chairman recently bought €21k worth of stock

Investor sentiment deteriorates as stock falls 16%

Upcoming dividend of kr4.19 per share

New major risk - Revenue and earnings growth

Second quarter dividend of kr4.19 announced

New major risk - Revenue size

Now 23% undervalued after recent price drop

SunMind SAS completed the acquisition of Helios Nordic Energy AB from Magnora ASA (OB:MGN), management of Helios Nordic Energy AB and a few minority investors.

No independent directors

Vinci SA (ENXTPA:DG) signed an agreement to acquire 40% stake in Helios Nordic Energy AB from Magnora ASA (OB:MGN) for NOK 850 million.

First quarter 2024 earnings released: kr0.099 loss per share (vs kr0.10 profit in 1Q 2023)

Magnora ASA Separates Its Legacy Business from Its Renewables Business

Magnora ASA Separates Its Legacy Business from Its Renewables Business

Magnora Asa Authorizes Quarterly Cash Distribution, Payable on 2 November 2023

Third quarter 2023 earnings released: kr0.25 loss per share (vs kr0.23 loss in 3Q 2022)

Magnora ASA, Annual General Meeting, Apr 23, 2024

Executive Chairman recently bought €94k worth of stock

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released

Magnora ASA (OB:MGN) commences an Equity Buyback for 6,682,268 shares, representing 10% of its issued share capital, under the authorization approved on April 25, 2023.

Investor sentiment improves as stock rises 16%

New minor risk - Share price stability

Magnora ASA Launches Capital Distribution Program

First quarter 2023 earnings released

First Solar, Inc. (NasdaqGS:FSLR) acquired Evolar AB from Magnora ASA (OB:MGN) for $38 million.

Full year 2022 earnings released: EPS: kr0.21 (vs kr1.11 loss in FY 2021)

Full year 2022 earnings released: EPS: kr0.058 (vs kr1.11 loss in FY 2021)

Magnora ASA to Report Q4, 2023 Results on Feb 13, 2024

Magnora ASA, Annual General Meeting, Apr 25, 2023

No independent directors

Third quarter 2022 earnings released

Magnora ASA announced that it expects to receive NOK 200 million in funding

Second quarter 2022 earnings released

First quarter 2022 earnings released: kr0.32 loss per share (vs kr0.14 loss in 1Q 2021)

No independent directors

Magnora ASA (OB:MGN) acquired additional 13.5% minority stake in Evolar AB.

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Magnora ASA (OB:MGN) acquired a 92% stake in African Green Ventures.

Magnora ASA (OB:MGN) acquired additional 9.3% stake in Evolar AB.

Third quarter 2021 earnings released

Executive Chairman recently bought €290k worth of stock

Magnora ASA (OB:MGN) acquired additional 15% stake in Helios Nordic Energy AB.

Second quarter 2021 earnings released: kr0.17 loss per share (vs kr0.23 profit in 2Q 2020)

Magnora ASA (OSE: MGN) acquired an unknown minority stake in Kustvind AB.

Investor sentiment deteriorated over the past week

Chief Executive Officer recently bought €89k worth of stock

Magnora ASA (OB:MGN) agreed to acquire additional 12.26% minority stake in Evolar AB.

First quarter 2021 earnings released

Executive Vice President of Operations recently bought €44k worth of stock

Full year 2020 earnings released: EPS kr0.54 (vs kr0.38 in FY 2019)

Investor sentiment improved over the past week

New 90-day high: €2.90

Magnora ASA (OB:MGN) entered into agreement to acquire an additional 25% stake in Vindr AB.

Revenue beats expectations

Full year 2020 earnings released: EPS kr0.54 (vs kr0.38 in FY 2019)

Magnora ASA to Report Q4, 2021 Results on Feb 15, 2022

Magnora ASA Updates on Oddeheia and Bjelkeberg Wind Farm Project

Magnora ASA Appoints Peter Nygren as Executive Vice President

New 90-day high: €2.71

Magnora ASA (OB:MGN) entered into an agreement to acquire 25% stake in Helios Nordic Energy AB

Magnora ASA Enters Partnership to Establish Floating Wind Company

Investor sentiment deteriorated over the past week

Magnora ASA to Report Q3, 2021 Results on Nov 15, 2021

New 90-day high: €2.39

New 90-day high: €2.29

Market bids up stock over the past week

Market bids up stock over the past week

Market bids up stock over the past week