Cloudberry Clean Energy Management

Management criteria checks 1/4

Cloudberry Clean Energy's CEO is Anders Lenborg, appointed in Sep 2017, has a tenure of 7.17 years. total yearly compensation is NOK13.25M, comprised of 30.2% salary and 69.8% bonuses, including company stock and options. directly owns 0.49% of the company’s shares, worth €1.36M. The average tenure of the management team and the board of directors is 2.5 years and 2 years respectively.

Key information

Anders Lenborg

Chief executive officer

NOK 13.2m

Total compensation

CEO salary percentage	30.2%
CEO tenure	7.2yrs
CEO ownership	0.5%
Management average tenure	2.5yrs
Board average tenure	2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Anders Lenborg's remuneration changed compared to Cloudberry Clean Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-NOK 22m
Jun 30 2024	n/a	n/a	-NOK 38m
Mar 31 2024	n/a	n/a	NOK 166m
Dec 31 2023	NOK 13m	NOK 4m	NOK 272m
Sep 30 2023	n/a	n/a	NOK 443m
Jun 30 2023	n/a	n/a	NOK 535m
Mar 31 2023	n/a	n/a	NOK 235m
Dec 31 2022	NOK 11m	NOK 3m	NOK 118m
Sep 30 2022	n/a	n/a	NOK 60m
Jun 30 2022	n/a	n/a	-NOK 8m
Mar 31 2022	n/a	n/a	-NOK 53m
Dec 31 2021	NOK 6m	NOK 3m	-NOK 63m
Sep 30 2021	n/a	n/a	-NOK 61m
Jun 30 2021	n/a	n/a	-NOK 54m
Mar 31 2021	n/a	n/a	-NOK 42m
Dec 31 2020	NOK 4m	NOK 2m	-NOK 34m
Sep 30 2020	n/a	n/a	-NOK 17m
Jun 30 2020	n/a	n/a	-NOK 14m
Mar 31 2020	n/a	n/a	-NOK 8m
Dec 31 2019	NOK 640k	NOK 609k	-NOK 3m

Compensation vs Market: Anders's total compensation ($USD1.19M) is above average for companies of similar size in the German market ($USD782.05K).

Compensation vs Earnings: Anders's compensation has increased whilst the company is unprofitable.

CEO

Anders Lenborg

7.2yrs

Tenure

NOK 13,245,000

Compensation

Mr. Anders J. Lenborg is the Founder of Cloudberry Clean Energy AS and serves as its Chief Executive Officer since September 2017. Mr. Lenborg has previously been the Head of the Energy Sector Group in DLA...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Anders Lenborg	Founder & CEO	7.2yrs	NOK 13.25m	0.49% € 1.4m
Stig Østebrøt	Chief Technology Officer	2.8yrs	NOK 2.90m	0.29% € 812.7k
Ingrid Bjørdal	Chief Compliance and Organization Officer	2.2yrs	NOK 3.32m	0.038% € 106.9k
Christian Helland	CVO & Chief Commercial Officer	less than a year	NOK 9.43m	0.10% € 293.3k
Charlotte Bergqvist	Chief Development Officer	2.8yrs	NOK 4.10m	no data
Ole-Kristofer Bragnes	Chief Financial Officer	less than a year	no data	no data
Erik Welle-Strand	COO & GM of Captiva Asset Management	less than a year	no data	0.063% € 176.6k
Suna Alkan	Head of Sustainability	5.2yrs	NOK 2.48m	no data

2.5yrs

Average Tenure

Experienced Management: 52K's management team is considered experienced (2.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Benedicte Fossum	Independent Director	4.4yrs	NOK 329.50k	0.041% € 114.0k
Mads Andersen	Director	less than a year	no data	no data
Henrik Joelsson	Independent Director	2.4yrs	NOK 332.50k	0.021% € 59.3k
Petter Borg	Independent Director	5.5yrs	NOK 361.50k	0.010% € 28.0k
Tove Feld	Independent Chairperson	1.6yrs	no data	0.015% € 41.9k
Nicolai Nordstrand	Director	no data	NOK 332.50k	0.023% € 64.2k
Alexandra Koefoed	Independent Director	1.6yrs	no data	0.0075% € 21.0k

2.0yrs

Average Tenure

59.5yo

Average Age

Experienced Board: 52K's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.

Cloudberry Clean Energy Management

Management criteria checks 1/4

Key information

Recent management updates

Cloudberry Clean Energy ASA Announces Board Changes

Cloudberry Clean Energy ASA Announces Chief Financial Officer Changes, Effective July 1, 2024

Cloudberry Clean Energy ASA Announces Chief Financial Officer Changes, Effective July 1, 2024

Cloudberry Clean Energy ASA, Annual General Meeting, Apr 04, 2024

Chief Technology Officer recently bought €826k worth of stock

High number of new directors

Recent updates

Third quarter 2024 earnings released: kr0.06 loss per share (vs kr0.12 loss in 3Q 2023)

Second quarter 2024 earnings released: EPS: kr0.42 (vs kr1.12 in 2Q 2023)

Cloudberry Clean Energy ASA (OB:CLOUD) agreed to acquire an additional 15.99% stake in Forte Energy Norway AS from a fund managed by Swiss Life Asset Management AG.

Cloudberry Clean Energy ASA Announces Board Changes

Full year 2023 earnings released: EPS: kr0.93 (vs kr0.47 in FY 2022)

Full year 2023 earnings released: EPS: kr0.94 (vs kr0.47 in FY 2022)

Cloudberry Clean Energy ASA Announces Chief Financial Officer Changes, Effective July 1, 2024

Cloudberry Clean Energy ASA Announces Chief Financial Officer Changes, Effective July 1, 2024

Cloudberry Clean Energy ASA (OB:CLOUD) acquired remaining 40% stake in Captiva AS from Captiva Capital Partner AS for NOK 23 million.

Cloudberry Clean Energy ASA, Annual General Meeting, Apr 04, 2024

Cloudberry Clean Energy ASA (OB:CLOUD) commences an Equity Buyback Plan for 7,000,000 shares, representing 2.4% of its issued share capital, under the authorization approved on September 28, 2023.

Cloudberry Clean Energy ASA (OB:CLOUD) commences an Equity Buyback Plan for 7,000,000 shares, representing 2.4% of its issued share capital, under the authorization approved on September 28, 2023.

Third quarter 2023 earnings released: kr0.12 loss per share (vs kr0.23 profit in 3Q 2022)

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: kr1.12 (vs kr0.097 in 2Q 2022)

Norsk Vannkraft As acquired 4.5-MW Hydro Plant in Norway, Selselva Kraft AS and Nessakraft AS from Cloudberry Clean Energy ASA (OB:CLOUD) for NOK 703 million.

Norsk Vannkraft As entered into a share sale and purchase agreement to acquire 4.5-MW Hydro Plant in Norway, Selselva Kraft AS and Nessakraft AS from Cloudberry Clean Energy ASA (OB:CLOUD) for NOK 703 million.

Cloudberry Clean Energy ASA (OB:CLOUD) completed the acquisition of 80% stake in Odin Energy P/S from Skovgaard Energy A/S for DKK 1 265 million.

Chief Technology Officer recently bought €826k worth of stock

First quarter 2023 earnings released: EPS: kr0.39 (vs kr0.02 loss in 1Q 2022)

High number of new directors

Full year 2022 earnings released: EPS: kr0.47 (vs kr0.40 loss in FY 2021)

Full year 2022 earnings released: EPS: kr0.48 (vs kr0.40 loss in FY 2021)

Cloudberry Clean Energy ASA (OB:CLOUD) signed a sale and purchase agreement to acquire 80% stake in Odin Energy P/S from Skovgaard Energy A/S.

Investor sentiment improves as stock rises 15%

Cloudberry Clean Energy ASA to Report First Half, 2023 Results on Aug 15, 2023

No independent directors

Third quarter 2022 earnings released: EPS: kr0.23 (vs kr0.06 loss in 3Q 2021)

Second quarter 2022 earnings released: EPS: kr0.11 (vs kr0.15 loss in 2Q 2021)

No independent directors

Forecast to breakeven in 2022

Forecast to breakeven in 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Cloudberry Clean Energy ASA (OB:CLOUD) completed the acquisition of a 60% stake in Captiva As from Captiva Capital Partner AS.

Cloudberry Clean Energy ASA announced that it has received NOK 600 million in funding from Ferd AS and other investors

Third quarter 2021 earnings released: kr0.06 loss per share (vs kr0.21 loss in 3Q 2020)

Forecast to breakeven in 2021

First half 2021 earnings released: kr0.31 loss per share (vs kr0.34 loss in 1H 2020)

Cloudberry Clean Energy ASA (OB:CLOUD) signed a share purchase agreement to acquire Usma Kraft AS from TrønderEnergi and others.

Cloudberry Clean Energy ASA (OB:CLOUD) completed the acquisition of a 33.4% stake in Odal Vindkraftverk AS.

Cloudberry Clean Energy AS has completed a Follow-on Equity Offering in the amount of NOK 1.075 billion.

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age