Announcement • Dec 24
FirstFarms A/S, Annual General Meeting, Apr 28, 2026 FirstFarms A/S, Annual General Meeting, Apr 28, 2026. Announcement • Nov 22
FirstFarms A/S Adjusts Earnings Guidance for the Full Year 2025 FirstFarms A/S adjusted earnings guidance for the full year 2025. Based in particular on the recent decrease in pig prices and assuming that these prices remain at the current level throughout the year, FirstFarms adjusts downwards the previous announced expectations for 2025, an LBIT of DKK 10 million - EBIT of DKK 20 million against previous guidance in range of DKK 15 million - DKK 55 million . Announcement • Jul 11
Firstfarms A/S Revises Earnings Expectations for 2025 FirstFarms A/S revised earnings expectations for 2025. For the year the company now expects the EBIT from DKK 15 million to DKK 55 million as compared to previous expectations of DKK 0 DKK 40 million. Announcement • Apr 30
Firstfarms A/S Announces Board Changes FirstFarms A/S held its annual general meeting and Jesper Pagh was elected as new member of the Board of Directors. On board meeting held immediately after the annual general meeting the Board of Directors constituted itself with Asbjørn Børsting as Chairman and Henrik Hougaard as Vice Chairman. This means that the two roles on the Board of Directors will be swapped. Announcement • Apr 03
Firstfarms A/S Revises Earnings Guidance for the Year 2025 FirstFarms A/S revised earnings guidance for the year 2025. The Slovak authorities have 30 March 2025 confirmed an outbreak of Foot and Mouth Disease (FMD) in a livestock of 3,487 animals on FirstFarms’ farm in Plavecký Stvrtok, Slovakia. Due to the outbreak at the cattle farm, The company adjusts downwards the announced expectations for 2025 with EBIT of DKK 0 million - DKK 40 million against previous guidance of EBIT of DKK 45 million - DKK 85 million. The downward adjustment does not take into account any regional, national or EU support schemes in connection with FMD. Announcement • Mar 13
FirstFarms A/S Provides Earnings Guidance for the Full Year 2025 FirstFarms A/S provided earnings guidance for the full year 2025. For the period, the company expected EBIT to be in the range of DKK 45 million to DKK 85 million. The expectation is based on increasing prices compared to the current level, cf. SEGES’ price prognosis. There is great volatility in market prices and cultivation conditions for FirstFarms’ products, and as a result there is a large profit range in expectations. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr.82.60, the stock trades at a trailing P/E ratio of 74.3x. Average trailing P/E is 14x in the Food industry in Europe. Total returns to shareholders of 22% over the past three years. Announcement • Feb 11
Constantinsborg A/S proposed to acquire remaining majority stake in FirstFarms A/S (CPSE:FFARMS). Constantinsborg A/S proposed to acquire remaining majority stake in FirstFarms A/S (CPSE:FFARMS) on February 11, 2025. The Offeror will offer DKK 84 for each share of nominally DKK 10, subject to adjustment for any dividends or other distributions declared or paid to the shareholders of FirstFarms prior to completion of the Offer. The Offeror will fully finance the Offer with cash and debt. The offer period is expected to expire four weeks after publication of the offer document but may be extended to ensure that all necessary regulatory approvals are obtained. According to the terms and conditions of the offer document, the Offeror will be entitled to extend the offer period. The Offeror's parent company, Heartland, has through its bank ensured full financing of the Offer subject to customary terms and conditions. Following completion of the Offer, the Offeror intends, regardless of the results of the Offer, to seek a delisting of FirstFarms' shares from trading and official listing on Nasdaq Copenhagen A/S. Completion of the Offer will be subject to customary conditions, including receipt of all necessary regulatory approvals, but completion will not be subject to any minimum acceptance level. The transaction is expected to complete in Q2 2025.
Kromann Reumert acted as legal advisor to Constantinsborg A/S. Announcement • Feb 07
FirstFarms A/S Revises Earnings Guidance for the Full Year 2024 FirstFarms A/S revised earnings guidance for the full year 2024. For the period, the company expected EBIT to be in the range of DKK 40 million to DKK 50 million compared to previous guidance of DKK 30 to 40 million. Reported Earnings • Nov 28
Third quarter 2024 earnings released: kr.0.54 loss per share (vs kr.0.99 loss in 3Q 2023) Third quarter 2024 results: kr.0.54 loss per share (improved from kr.0.99 loss in 3Q 2023). Revenue: kr.122.5m (down 14% from 3Q 2023). Net loss: kr.4.41m (loss narrowed 46% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. New Risk • Sep 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 231% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.8% net profit margin). Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: kr.0.33 (vs kr.1.65 in 2Q 2023) Second quarter 2024 results: EPS: kr.0.33 (down from kr.1.65 in 2Q 2023). Revenue: kr.140.4m (up 50% from 2Q 2023). Net income: kr.3.72m (down 76% from 2Q 2023). Profit margin: 2.6% (down from 17% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Aug 29
FirstFarms A/S Revises Earnings Guidance for the Year 2024 FirstFarms A/S revised earnings guidance for the year 2024. For the year, the company expects an EBIT of DKK 30 million - DKK 60 million compared to previous guidance of DKK 50 million - DKK 80 million. Reported Earnings • Jun 04
First quarter 2024 earnings released: EPS: kr.1.09 (vs kr.1.67 in 1Q 2023) First quarter 2024 results: EPS: kr.1.09 (down from kr.1.67 in 1Q 2023). Revenue: kr.103.8m (down 5.1% from 1Q 2023). Net income: kr.10.3m (down 35% from 1Q 2023). Profit margin: 9.9% (down from 14% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. Announcement • Jun 02
FirstFarms A/S Provides Earnings Guidance for the Year 2024 FirstFarms A/S provided earnings guidance for the year 2024. For the year, the company expects an EBIT of DKK 50 million - DKK 80 million. Announcement • Apr 17
FirstFarms A/S Elects Lise Kaae as Member of the Board of Directors FirstFarms A/S at the annual general meeting held on April 16, 2024 Lise Kaae was elected as new member of the Board of Directors. New Risk • Mar 26
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 86% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.6% net profit margin). Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: kr.2.68 (vs kr.6.92 in FY 2022) Full year 2023 results: EPS: kr.2.68 (down from kr.6.92 in FY 2022). Revenue: kr.539.1m (up 29% from FY 2022). Net income: kr.26.0m (down 60% from FY 2022). Profit margin: 4.8% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Mar 07
An unknown buyer acquired a 11.54% stake in FirstFarms A/S (CPSE:FFARMS) from Olav W. Hansen A/S. An unknown buyer acquired a 11.54% stake in FirstFarms A/S (CPSE:FFARMS) from Olav W. Hansen A/S on March 5, 2024. Olav W. Hansen A/S has sold 1,148,788 shares in FirstFarms A/S. As a result, Olav W. Hansen A/S does not hold any share capital and voting rights in FirstFarms A/S. An unknown buyer completed the acquisition of a 11.54% stake in FirstFarms A/S (CPSE:FFARMS) from Olav W. Hansen A/S on March 5, 2024. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr.74.80, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 16x in the Food industry in Europe. Total returns to shareholders of 22% over the past three years. New Risk • Dec 16
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.1% net profit margin). Shareholders have been diluted in the past year (5.1% increase in shares outstanding). Reported Earnings • Nov 30
Third quarter 2023 earnings released: kr.0.99 loss per share (vs kr.3.57 profit in 3Q 2022) Third quarter 2023 results: kr.0.99 loss per share (down from kr.3.57 profit in 3Q 2022). Revenue: kr.160.8m (up 18% from 3Q 2022). Net loss: kr.8.12m (down 130% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Nov 29
FirstFarms A/S Revises Earnings Guidance for the Year 2023 FirstFarms A/S revised earnings guidance for the year 2023. The company maintains the announced expectations for 2023. However, with an EBIT correspondingly in the lower end of the level of DKK 45 million - DKK 75 million. New Risk • Oct 31
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr.704.2m (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks High level of debt (74% net debt to equity). Shareholders have been diluted in the past year (5.9% increase in shares outstanding). Market cap is less than US$100m (kr.704.2m market cap, or US$99.8m). Announcement • Aug 31
FirstFarms A/S Maintains Earnings Guidance for the Full Year 2023 FirstFarms A/S maintained earnings guidance for the full year 2023. The company maintained the announced expectations for 2023 of an EBIT of DKK 45 million -75 million. In the record year 2022, an EBIT of DKK 96 million was realized. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: kr.1.65 (vs kr.2.06 in 2Q 2022) Second quarter 2023 results: EPS: kr.1.65 (down from kr.2.06 in 2Q 2022). Revenue: kr.111.9m (up 29% from 2Q 2022). Net income: kr.15.6m (down 19% from 2Q 2022). Profit margin: 14% (down from 22% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • May 18
FirstFarms A/S Reaffirms Earnings Guidance for the Year 2023 FirstFarms A/S reaffirmed earnings guidance for the year 2023. The company believes in a satisfactory 2023 result and maintains the announced expectations for the year of an EBIT of DKK 45 million to DKK 75 million. Upcoming Dividend • Apr 19
Upcoming dividend of kr.0.95 per share at 1.1% yield Eligible shareholders must have bought the stock before 26 April 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Danish dividend payers (4.1%). Lower than average of industry peers (2.6%). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: kr.7.56 (vs kr.4.42 in FY 2021) Full year 2022 results: EPS: kr.7.56 (up from kr.4.42 in FY 2021). Revenue: kr.493.9m (up 33% from FY 2021). Net income: kr.65.5m (up 88% from FY 2021). Profit margin: 13% (up from 9.4% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Jan 23
FirstFarms A/S Revises Earnings Guidance for the Year 2022 FirstFarms A/S revised earnings guidance for the year 2022. The company announced expectations for EBIT is raised with DKK 25 million at the bottom of the announced expectations DKK 5 million at the top. The EBIT to be in the range of DKK 90 million to DKK 100 million against previously guidance of DKK 65 million to DKK 95 million. Recent Insider Transactions • Dec 19
Chairman of the Board recently bought kr.4.5m worth of stock On the 13th of December, Henrik Hougaard bought around 56k shares on-market at roughly kr.80.00 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Henrik's only on-market trade for the last 12 months. Reported Earnings • Nov 24
Third quarter 2022 earnings released: EPS: kr.3.57 (vs kr.0.30 loss in 3Q 2021) Third quarter 2022 results: EPS: kr.3.57 (up from kr.0.30 loss in 3Q 2021). Revenue: kr.153.4m (up 47% from 3Q 2021). Net income: kr.27.0m (up kr.29.3m from 3Q 2021). Profit margin: 18% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Nov 02
FirstFarms A/S Provides Earnings Guidance for the Year 2022 FirstFarms A/S provided earnings guidance for the year 2022. For the year, the company expects EBIT of DKK 65 million - DKK 95 million against previously DKK 45 million- DKK 85 million. Reported Earnings • Aug 26
Third quarter 2021 earnings released: kr.0.30 loss per share (vs kr.1.34 loss in 3Q 2020) Third quarter 2021 results: kr.0.30 loss per share (up from kr.1.34 loss in 3Q 2020). Revenue: kr.104.6m (up 51% from 3Q 2020). Net loss: kr.2.30m (loss narrowed 77% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jul 21
FirstFarms A/S (CPSE:FFARMS) completed the acquisition of Try-Béta Kft for DKK 27 million. FirstFarms A/S (CPSE:FFARMS) entered into agreement to acquire Try-Béta Kft for DKK 26 million on December 14, 2021. The purchase agreement is conditional to final due diligence and the trade is expected to be completed by the end of April 2022. The purchase agreement is conditional to final due diligence and authority approvals, and the transaction is now expected to be finalized at the latest in Q3 2022.
FirstFarms A/S (CPSE:FFARMS) completed the acquisition of Try-Béta Kft for DKK 27 million on July 20, 2021. Announcement • Jul 15
FirstFarms A/S Affirms Earnings Guidance for the Year 2022 FirstFarms A/S affirmed earnings guidance for the year 2022. For the year, the company expects EBIT of DKK 35 million to DKK 75 million. Reported Earnings • Jun 06
Third quarter 2021 earnings released: kr.0.30 loss per share (vs kr.1.34 loss in 3Q 2020) Third quarter 2021 results: kr.0.30 loss per share (up from kr.1.34 loss in 3Q 2020). Revenue: kr.104.6m (up 51% from 3Q 2020). Net loss: kr.2.30m (loss narrowed 77% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 16% per year. Upcoming Dividend • Apr 20
Upcoming dividend of kr.0.85 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 29 April 2022. Trailing yield: 1.0%. Lower than top quartile of Danish dividend payers (6.1%). Lower than average of industry peers (2.3%). Announcement • Apr 01
FirstFarms A/S Recommends Dividend FirstFarms A/S announced that at its AGM to be held on 26 April 2022, to recommend dividend of DKK 6.682 million (DKK 0.85 per share). Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improved over the past week After last week's 17% share price gain to kr.81.00, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 17x in the Food industry in Europe. Total returns to shareholders of 87% over the past three years. Announcement • Dec 15
FirstFarms A/S (CPSE:FFARMS) entered into agreement to acquire Try-Béta Kft for DKK 26 million. FirstFarms A/S (CPSE:FFARMS) entered into agreement to acquire Try-Béta Kft for DKK 26 million on December 14, 2021. The purchase agreement is conditional to final due diligence and the trade is expected to be completed by the end of April 2022. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: kr.0.30 loss per share (down from kr.0.072 loss in 3Q 2020). Revenue: kr.104.6m (up 30% from 3Q 2020). Net loss: kr.2.30m (loss widened 320% from 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: kr.0.30 loss per share (down from kr.0.072 loss in 3Q 2020). Revenue: kr.104.6m (up 30% from 3Q 2020). Net loss: kr.2.30m (loss widened 320% from 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Nov 24
An unknown buyer completed the acquisition of Northwest Romanian Activities from FirstFarms A/S (CPSE:FFARMS). An unknown buyer agreed to acquire Northwest Romanian Activities from FirstFarms A/S (CPSE:FFARMS) for DKK 104 million on July 15, 2021. The deal is expected to be final before the end of 2021.
An unknown buyer completed the acquisition of Northwest Romanian Activities from FirstFarms A/S (CPSE:FFARMS) on November 23, 2021. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS kr.1.44 (vs kr.2.53 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr.67.2m (down 3.0% from 2Q 2020). Net income: kr.11.0m (down 42% from 2Q 2020). Profit margin: 16% (down from 27% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Aug 25
FirstFarms A/S Provides Earnings Guidance for the Year 2021 FirstFarms A/S provided earnings guidance for the year 2021. For the period, the company expects EBIT of DKK 50 to 70 million. Announcement • Jul 16
An unknown buyer agreed to acquire Northwest Romanian Activities from FirstFarms A/S (CPSE:FFARMS). An unknown buyer agreed to acquire Northwest Romanian Activities from FirstFarms A/S (CPSE:FFARMS) for DKK 104 million on July 15, 2021. The deal is expected to be final before the end of 2021. Announcement • Apr 29
FirstFarms A/S Announces Dividend for the Year FirstFarms A/S at its annual general meeting resulted, DKK 5.675 Million was distributed as dividend and the rest was carried forward to next year. Upcoming Dividend • Apr 21
Upcoming dividend of kr.0.75 per share Eligible shareholders must have bought the stock before 28 April 2021. Payment date: 03 May 2021. Trailing yield: 1.1%. Lower than top quartile of Danish dividend payers (3.5%). Lower than average of industry peers (2.4%). Reported Earnings • Mar 27
Full year 2020 earnings released: EPS kr.3.57 (vs kr.3.55 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: kr.312.6m (down 4.7% from FY 2019). Net income: kr.24.8m (up 11% from FY 2019). Profit margin: 7.9% (up from 6.8% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Mar 19
FirstFarms A/S Revises Earnings Guidance for the Year 2020 FirstFarms A/S revised earnings guidance for the year 2020. For the year, the company corrected EBIT guidance to be DKK 35 million to DKK 65 million against previous expectation of DKK 45 million to DKK 60 million . Announcement • Mar 18
FirstFarms A/S Provides Earnings Guidance for the Year 2020 FirstFarms A/S provided earnings guidance for the year 2020. The company expectations to 2020 with EBIT of DKK 54 million against the expectations of an EBIT of DKK 35 million - DKK 65 million. Is New 90 Day High Low • Mar 09
New 90-day high: kr.66.00 The company is up 3.0% from its price of kr.64.00 on 09 December 2020. The Danish market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Food industry, which is also up 3.0% over the same period. Announcement • Jan 29
FirstFarms A/S Completes Tranche No. 3 of Land Sale FirstFarms A/S has signed final agreement (SPA) of 77 hectares. The agreement is based on conditional agreement of totally 1,675 hectares of land in West Romania (company announcement no. 15 of 9 June 2020). There has previously been sold 856 hectares of land (company announcement no. 28 of 12 October 2020 and company announcement no. 31 of 15 December 2020), and thus a total of 933 hectares have been sold. The total sales price is expected to constitute DKK 85 million. The remaining part is expected to be carried out in tranches over the coming 9 months. The tranche completed constitutes DKK 2 million. The profit of the total sale is expected to affect EBIT with DKK 40 million. Half of the sale is carried out in 2020. The remaining sale in 2021 is expected to affect EBIT with DKK 20 million. With the total sale, FirstFarms' cash resource is strengthened by DKK 85 million. The land is purchased in 2007-2008 and has been operated by FirstFarms the last 5 years. The turnover in West Romania constitutes 5% of FirstFarms' total turnover. Focus has been on development of the land portfolio, and the operating results have not been satisfactory. As a significant part of FirstFarms' business model, the land portfolio has been increased in value in the form of extensive trenching, land swap and improvement of the land structure. Is New 90 Day High Low • Jan 28
New 90-day low: kr.61.40 The company is down 3.0% from its price of kr.63.40 on 30 October 2020. The Danish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 6.0% over the same period. Reported Earnings • Nov 26
Third quarter 2020 earnings released: kr.1.34 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: kr.69.1m (down 28% from 3Q 2019). Net loss: kr.10.1m (down 436% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. 