Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: kr0.03 (vs kr0.49 loss in 1Q 2025) First quarter 2026 results: EPS: kr0.03 (up from kr0.49 loss in 1Q 2025). Revenue: kr3.30b (up 12% from 1Q 2025). Net income: kr4.29m (up kr84.5m from 1Q 2025). Profit margin: 0.1% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 23
Upcoming dividend of kr3.75 per share Eligible shareholders must have bought the stock before 30 April 2026. Payment date: 11 May 2026. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (1.3%). Reported Earnings • Mar 25
Full year 2025 earnings released: EPS: kr4.97 (vs kr5.15 in FY 2024) Full year 2025 results: EPS: kr4.97 (down from kr5.15 in FY 2024). Revenue: kr14.9b (up 17% from FY 2024). Net income: kr813.5m (down 2.8% from FY 2024). Profit margin: 5.5% (down from 6.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Mar 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.4% to kr88.00. The fair value is estimated to be kr110, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Announcement • Mar 19
Europris ASA Announces Tom Vidar Rygh Not Standing for Re-Election Europris ASA announced that Tom Vidar Rygh (chair) has informed the nomination committee that he does not want to be nominated for re-election at the upcoming annual general meeting. Mr. Rygh has taken an active part in Europris as chair since 2012. Buy Or Sell Opportunity • Feb 22
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at kr88.40. The fair value is estimated to be kr111, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Declared Dividend • Feb 01
Dividend increased to kr3.75 Dividend of kr3.75 is 7.1% higher than last year. Ex-date: 30th April 2026 Payment date: 11th May 2026 Dividend yield will be 4.2%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (75% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 30
Full year 2025 earnings released: EPS: kr4.97 (vs kr5.15 in FY 2024) Full year 2025 results: EPS: kr4.97 (down from kr5.15 in FY 2024). Revenue: kr14.9b (up 17% from FY 2024). Net income: kr813.5m (down 2.8% from FY 2024). Profit margin: 5.5% (down from 6.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jan 29
Europris ASA Proposes Ordinary Cash Dividend for 2025, Payable on 11 May, 2026 Europris ASA's board of directors proposed to the Annual General Meeting an ordinary dividend for 2025 of NOK 3.75 per share. Last day including right: 29 April 2026. Ex-date: 30 April 2026. Record date: 4 May 2026. Payment date: 11 May 2026. Date of approval: 29 April 2026. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: kr0.94 (vs kr0.52 in 3Q 2024) Third quarter 2025 results: EPS: kr0.94 (up from kr0.52 in 3Q 2024). Revenue: kr3.53b (up 9.0% from 3Q 2024). Net income: kr154.0m (up 84% from 3Q 2024). Profit margin: 4.4% (up from 2.6% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr86.75, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Multiline Retail industry in Europe. Total returns to shareholders of 70% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr105 per share. New Risk • Oct 31
New major risk - Revenue and earnings growth Earnings have declined by 0.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.2% per year over the past 5 years. Minor Risks High level of debt (49% net debt to equity). Profit margins are more than 30% lower than last year (5.0% net profit margin). Announcement • Aug 12
Europris Asa Announces CEO Changes At Öob, Effective Date Is November 1, 2025 Europris ASA announced the appointment of Anders Lorentzson as CEO of its Swedish subsidiary ÖoB, effective November 1, 2025. Mr. Lorentzson joins from Hemtex, where he has served as CEO since 2018. He has a career spanning over 20 years in the retail sector, holding various senior management positions. His extensive experience includes roles in grocery retail with the Ica group, electronics with Expert, and home textiles with Hemtex. Mr. Lorentzson is a Swedish citizen and resides in Sweden. New Risk • Jul 11
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 49% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (49% net debt to equity). Profit margins are more than 30% lower than last year (5.0% net profit margin). Reported Earnings • Jul 11
Second quarter 2025 earnings released: EPS: kr1.69 (vs kr1.65 in 2Q 2024) Second quarter 2025 results: EPS: kr1.69 (up from kr1.65 in 2Q 2024). Revenue: kr3.80b (up 22% from 2Q 2024). Net income: kr276.0m (up 3.7% from 2Q 2024). Profit margin: 7.3% (down from 8.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 18
Upcoming dividend of kr3.50 per share Eligible shareholders must have bought the stock before 25 April 2025. Payment date: 06 May 2025. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (6.2%). Higher than average of industry peers (1.4%). Recent Insider Transactions • Apr 17
Independent Director recently bought kr300k worth of stock On the 10th of April, Jon Klafstad bought around 4k shares on-market at roughly kr74.90 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr10m more in shares than they bought in the last 12 months. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: kr5.15 (vs kr5.64 in FY 2023) Full year 2024 results: EPS: kr5.15 (down from kr5.64 in FY 2023). Revenue: kr12.8b (up 35% from FY 2023). Net income: kr837.2m (down 7.9% from FY 2023). Profit margin: 6.6% (down from 9.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Declared Dividend • Jan 31
Dividend increased to kr3.50 Dividend of kr3.50 is 7.7% higher than last year. Ex-date: 25th April 2025 Payment date: 6th May 2025 Dividend yield will be 4.2%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 11% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 40% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Jan 30
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.6% Last year net profit margin: 9.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Jan 30
Full year 2024 earnings released: EPS: kr5.16 (vs kr5.64 in FY 2023) Full year 2024 results: EPS: kr5.16 (down from kr5.64 in FY 2023). Revenue: kr12.8b (up 35% from FY 2023). Net income: kr839.0m (down 7.7% from FY 2023). Profit margin: 6.6% (down from 9.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jan 29
Europris ASA Proposes Ordinary Cash Dividend for 2024, Payable on 6 May 2025 The board of directors of Europris ASA has decided to propose to the Annual General Meeting an ordinary dividend for 2024 of NOK 3.50 per share. Ex-date is 25 April 2025. Record date is 28 April 2025. Payment date is 6 May 2025. Date of approval is 24 April 2025. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: kr0.52 (vs kr0.89 in 3Q 2023) Third quarter 2024 results: EPS: kr0.52 (down from kr0.89 in 3Q 2023). Revenue: kr3.24b (up 50% from 3Q 2023). Net income: kr83.6m (down 42% from 3Q 2023). Profit margin: 2.6% (down from 6.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Oct 30
Europris ASA Announces Resignation of Claus Juel-Jensen as Director Europris ASA announced that Mr. Claus Juel-Jensen has given the board the notice that he will resign as director from October 30,2024. Mr. Juel-Jensen regrets this, but unfortunately he has to prioritise other engagements. Recent Insider Transactions • Jul 16
Independent Director recently sold kr11m worth of stock On the 11th of July, Pal Wibe sold around 145k shares on-market at roughly kr73.68 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jul 14
Second quarter 2024 earnings released: EPS: kr1.65 (vs kr1.61 in 2Q 2023) Second quarter 2024 results: EPS: kr1.65 (up from kr1.61 in 2Q 2023). Revenue: kr3.11b (up 35% from 2Q 2023). Net income: kr266.2m (up 2.5% from 2Q 2023). Profit margin: 8.6% (down from 11% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Jun 20
Europris ASA to Report Fiscal Year 2024 Final Results on Mar 21, 2025 Europris ASA announced that they will report fiscal year 2024 final results on Mar 21, 2025 Announcement • Jun 19
Europris ASA, Annual General Meeting, Apr 24, 2025 Europris ASA, Annual General Meeting, Apr 24, 2025. Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: kr0.29 (vs kr0.44 in 1Q 2023) First quarter 2024 results: EPS: kr0.29 (down from kr0.44 in 1Q 2023). Revenue: kr2.03b (up 4.8% from 1Q 2023). Net income: kr46.6m (down 34% from 1Q 2023). Profit margin: 2.3% (down from 3.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 25
Upcoming dividend of kr3.25 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 13 May 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (1.2%). Announcement • Mar 23
Europris ASA (OB:EPR) signed share purchase agreement to acquire to acquire remaining 80% stake in Runsvengruppen AB for NOK 200 million. Europris ASA (OB:EPR) signed share purchase agreement to acquire to acquire remaining 80% stake in Runsvengruppen AB for NOK 200 million on March 21, 2024. The final purchase price is NOK 200.5 million of which NOK 13 million will be paid in cash and NOK 187.5 million will be paid with Europris treasury shares (2,579,678 shares at an implied value of NOK 72.70 per share, reflecting the proposed dividend of NOK 3.25 per Europris share). The Europris consideration shares will be subject to a customary 12-month lock-up. Closing and settlement is subject to Foreign Direct Investment (FDI) approval from Swedish authorities. Anticipated closing of the transaction is in May 2024. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: kr5.64 (vs kr6.34 in FY 2022) Full year 2023 results: EPS: kr5.64 (down from kr6.34 in FY 2022). Revenue: kr9.47b (up 5.0% from FY 2022). Net income: kr908.6m (down 11% from FY 2022). Profit margin: 9.6% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Like-for-like sales growth: 2.6% vs FY 2022 Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Feb 04
Dividend of kr3.25 announced Shareholders will receive a dividend of kr3.25. Ex-date: 2nd May 2024 Payment date: 13th May 2024 Dividend yield will be 4.3%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 13% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 01
Europris ASA Proposes Ordinary Cash Dividend for 2023, Payable on 13 May 2024 The board of directors of Europris ASA has decided to propose to the Annual General Meeting an ordinary dividend for 2023 of NOK 3.25 per share. Ex-date is 2 May 2024. Record date is 3 May 2024. Payment date is 13 May 2024 Date of approval is 30 April 2024. Reported Earnings • Nov 06
Third quarter 2023 earnings released: EPS: kr0.89 (vs kr1.16 in 3Q 2022) Third quarter 2023 results: EPS: kr0.89 (down from kr1.16 in 3Q 2022). Revenue: kr2.15b (up 5.0% from 3Q 2022). Net income: kr143.6m (down 23% from 3Q 2022). Profit margin: 6.7% (down from 9.1% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 10% per year. Recent Insider Transactions • Jul 15
Independent Director recently sold kr7.9m worth of stock On the 13th of July, Pal Wibe sold around 120k shares on-market at roughly kr65.88 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr11m. Insiders have been net sellers, collectively disposing of kr19m more than they bought in the last 12 months. Reported Earnings • Jul 14
Second quarter 2023 earnings released: EPS: kr1.61 (vs kr2.02 in 2Q 2022) Second quarter 2023 results: EPS: kr1.61 (down from kr2.02 in 2Q 2022). Revenue: kr2.31b (up 4.3% from 2Q 2022). Net income: kr259.8m (down 20% from 2Q 2022). Profit margin: 11% (down from 15% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Apr 14
Upcoming dividend of kr3.75 per share at 4.9% yield Eligible shareholders must have bought the stock before 21 April 2023. Payment date: 02 May 2023. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (1.1%). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: kr6.34 (vs kr6.73 in FY 2021) Full year 2022 results: EPS: kr6.34 (down from kr6.73 in FY 2021). Revenue: kr9.02b (up 4.3% from FY 2021). Net income: kr1.02b (down 5.7% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Like-for-like sales growth: Down 1.1% vs FY 2021 Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 07
Full year 2022 earnings released: EPS: kr6.35 (vs kr6.73 in FY 2021) Full year 2022 results: EPS: kr6.35 (down from kr6.73 in FY 2021). Revenue: kr9.02b (up 4.3% from FY 2021). Net income: kr1.02b (down 5.5% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 27% per year. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Director Pal Wibe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr2.05b (up 2.8% from 3Q 2021). Net income: kr186.7m (down 8.3% from 3Q 2021). Profit margin: 9.1% (down from 10% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Multiline Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Aug 13
Europris ASA to Report Q4, 2022 Results on Feb 02, 2023 Europris ASA announced that they will report Q4, 2022 results on Feb 02, 2023 Reported Earnings • Jul 15
Second quarter 2022 earnings released: EPS: kr2.02 (vs kr1.76 in 2Q 2021) Second quarter 2022 results: EPS: kr2.02 (up from kr1.76 in 2Q 2021). Revenue: kr2.22b (up 5.7% from 2Q 2021). Net income: kr325.3m (up 15% from 2Q 2021). Profit margin: 15% (up from 14% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 7.9% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 16% share price gain to kr55.48, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Multiline Retail industry in Europe. Total returns to shareholders of 161% over the past three years. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: kr0.55 (vs kr0.65 in 1Q 2021) First quarter 2022 results: EPS: kr0.55 (down from kr0.65 in 1Q 2021). Revenue: kr1.72b (flat on 1Q 2021). Net income: kr87.7m (down 16% from 1Q 2021). Profit margin: 5.1% (down from 6.1% in 1Q 2021). Over the next year, revenue is forecast to grow 3.3%, compared to a 8.5% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Director Pal Wibe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 15
Upcoming dividend of kr4.00 per share Eligible shareholders must have bought the stock before 22 April 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of British dividend payers (4.6%). Higher than average of industry peers (5.6%). Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: kr6.71 (vs kr4.87 in FY 2020) Full year 2021 results: EPS: kr6.71 (up from kr4.87 in FY 2020). Revenue: kr8.65b (up 7.9% from FY 2020). Net income: kr1.08b (up 34% from FY 2020). Profit margin: 13% (up from 10.0% in FY 2020). The increase in margin was driven by higher revenue. Like-for-like sales growth: 1.5% vs FY 2020 Over the next year, revenue is forecast to grow 1.0%, compared to a 8.3% growth forecast for the retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 08
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr6.71 (up from kr4.87 in FY 2020). Revenue: kr8.65b (up 7.9% from FY 2020). Net income: kr1.08b (up 34% from FY 2020). Profit margin: 13% (up from 10.0% in FY 2020). The increase in margin was driven by higher revenue. Like-for-like sales growth: 1.5% vs FY 2020 Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 2.4%, compared to a 11% growth forecast for the retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Board Change • Feb 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. Director Pal Wibe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Third quarter 2021 earnings released The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: kr1.99b (up 5.1% from 3Q 2020). Net income: kr203.5m (up 7.0% from 3Q 2020). Profit margin: 10% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 39% per year. Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS kr1.76 (vs kr1.49 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: kr2.10b (down 5.2% from 2Q 2020). Net income: kr283.0m (up 15% from 2Q 2020). Profit margin: 14% (up from 11% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 41% per year. Is New 90 Day High Low • Dec 24
New 90-day high: kr52.20 The company is up 14% from its price of kr45.60 on 24 September 2020. The British market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Multiline Retail industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr104 per share. Recent Insider Transactions • Nov 20
Independent Director recently bought kr72k worth of stock On the 18th of November, Claus Juel-Jensen bought around 2k shares on-market at roughly kr47.61 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr67m more in shares than they bought in the last 12 months. Recent Insider Transactions • Nov 11
Insider recently sold kr5.1m worth of stock On the 6th of November, Tommy Sletten sold around 100k shares on-market at roughly kr51.39 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr67m more than they bought in the last 12 months. Reported Earnings • Nov 03
Third quarter 2020 earnings released: EPS kr1.15 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: kr1.90b (up 28% from 3Q 2019). Net income: kr190.2m (up 124% from 3Q 2019). Profit margin: 10.0% (up from 5.8% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year and the company’s share price has also increased by 14% per year. Analyst Estimate Surprise Post Earnings • Nov 03
Revenue beats expectations Revenue exceeded analyst estimates by 11%. Over the next year, revenue is expected to shrink by 1.7% compared to a 9.1% growth forecast for the Multiline Retail industry in the United Kingdom. Recent Insider Transactions • Nov 01
Insider recently sold kr5.0m worth of stock On the 30th of October, Daniel Bruun sold around 100k shares on-market at roughly kr49.89 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr62m more than they bought in the last 12 months. Is New 90 Day High Low • Oct 30
New 90-day high: kr49.91 The company is up 13% from its price of kr44.18 on 31 July 2020. The British market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Multiline Retail industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr62.81 per share. Is New 90 Day High Low • Oct 12
New 90-day high: kr48.66 The company is up 7.0% from its price of kr45.32 on 14 July 2020. The British market is down 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Multiline Retail industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is kr64.52 per share. 
