Magnora Management

Management criteria checks 3/4

Magnora's CEO is Erik Sneve, appointed in Apr 2019, has a tenure of 5.17 years. total yearly compensation is NOK7.29M, comprised of 39.6% salary and 60.4% bonuses, including company stock and options. directly owns 1.79% of the company’s shares, worth NOK40.26M. The average tenure of the management team and the board of directors is 3.3 years and 6.1 years respectively.

Key information

Erik Sneve

Chief executive officer

kr7.3m

Total compensation

CEO salary percentage	39.6%
CEO tenure	5.2yrs
CEO ownership	1.8%
Management average tenure	3.3yrs
Board average tenure	6.1yrs

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
Mar 31 2024	n/a	n/a	kr179m
Dec 31 2023	kr7m	kr3m	kr193m
Sep 30 2023	n/a	n/a	kr251m
Jun 30 2023	n/a	n/a	kr253m
Mar 31 2023	n/a	n/a	kr38m
Dec 31 2022	kr5m	kr2m	kr13m
Sep 30 2022	n/a	n/a	-kr71m
Jun 30 2022	n/a	n/a	-kr71m
Mar 31 2022	n/a	n/a	-kr73m
Dec 31 2021	kr5m	kr2m	-kr63m
Sep 30 2021	n/a	n/a	-kr27m
Jun 30 2021	n/a	n/a	-kr4m
Mar 31 2021	n/a	n/a	kr18m
Dec 31 2020	kr5m	kr2m	kr29m
Sep 30 2020	n/a	n/a	kr27m
Jun 30 2020	n/a	n/a	kr25m
Mar 31 2020	n/a	n/a	kr15m
Dec 31 2019	kr2m	kr2m	kr20m

Compensation vs Market: Erik's total compensation ($USD694.74K) is about average for companies of similar size in the UK market ($USD730.26K).

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

CEO

Erik Sneve

5.2yrs

Tenure

kr7,291,000

Compensation

Mr. Erik Sneve serves as Chief Executive Officer of Magnora ASA and served as its Acting Chief Executive Officer since April 16, 2019.

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Torstein Sanness	Executive Chairman	7.1yrs	kr1.21m	0.96% NOK 21.6m
Erik Sneve	Chief Executive Officer	5.2yrs	kr7.29m	1.79% NOK 40.3m
Bard Olsen	Chief Financial Officer	4.8yrs	kr3.38m	0.11% NOK 2.6m
Haakon Alfstad	Chief Executive Officer of Magnora Offshore Wind	3.3yrs	no data	0.17% NOK 3.8m
Hanne Wiger	Business Controller	1.4yrs	no data	0.0068% NOK 153.4k
Trond Gartner	Senior Vice President of Business Development	2.7yrs	no data	0.011% NOK 240.2k

3.3yrs

Average Tenure

Experienced Management: 0MHQ's management team is considered experienced (3.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Torstein Sanness	Executive Chairman	7.1yrs	kr1.21m	0.96% NOK 21.6m
John Hamilton	Director	5.5yrs	kr370.00k	0.051% NOK 1.2m
Hilde Adland	Director	6.1yrs	kr310.00k	0.059% NOK 1.3m

6.1yrs

Average Tenure

59yo

Average Age

Experienced Board: 0MHQ's board of directors are considered experienced (6.1 years average tenure).

Magnora Management

Management criteria checks 3/4

Key information

Recent management updates

No independent directors

Magnora ASA, Annual General Meeting, Apr 23, 2024

Executive Chairman recently bought kr1.1m worth of stock

Magnora ASA, Annual General Meeting, Apr 25, 2023

No independent directors

Chief Financial Officer recently bought kr432k worth of stock

Recent updates

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.

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)

No independent directors

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 kr1.1m 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.

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

Chief Financial Officer recently bought kr432k worth of stock

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.

Insider recently bought kr495k worth of stock

Key Executive recently bought kr245k worth of stock

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

Insider recently bought kr50k worth of stock

Third quarter 2021 earnings released

Executive Chairman recently bought kr2.9m worth of stock

Director recently bought kr76k worth of stock

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

Insider recently bought kr202k worth of stock

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 kr900k 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 kr447k worth of stock

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

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

Revenue beats expectations

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

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

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

Market pulls back on stock over the past week

Market pulls back on stock over the past week

Market bids up stock over the past week

Third quarter 2020 earnings released: EPS kr0.14

Market pulls back on stock over the past week

Chief Executive Officer recently bought kr564k worth of stock

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age