Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to kr385, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 20x in the Electronic industry in the United Kingdom. Total returns to shareholders of 242% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr390 per share. Upcoming Dividend • Apr 30
Upcoming dividend of kr3.25 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 13 May 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (0.8%). Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 43% After last week's 43% share price gain to kr385, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 20x in the Electronic industry in the United Kingdom. Total returns to shareholders of 272% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr263 per share. Buy Or Sell Opportunity • Apr 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 88% to kr385. The fair value is estimated to be kr318, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 33%. For the next 3 years, revenue is forecast to grow by 5.9% per annum. Earnings are also forecast to grow by 8.1% per annum over the same time period. Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: kr7.99 (vs kr8.62 in FY 2024) Full year 2025 results: EPS: kr7.99 (down from kr8.62 in FY 2024). Revenue: kr7.94b (up 13% from FY 2024). Net income: kr1.56b (down 7.3% from FY 2024). Profit margin: 20% (down from 24% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Electronic industry in the United Kingdom. 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 21% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 08
Dividend of kr3.25 announced Shareholders will receive a dividend of kr3.25. Ex-date: 7th May 2026 Payment date: 13th May 2026 Dividend yield will be 1.7%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (41% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Feb 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.9% to kr189. The fair value is estimated to be kr243, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 33%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 7.5% per annum over the same time period. Announcement • Feb 06
Mycronic AB (publ) announces Annual dividend, payable on May 13, 2026 Mycronic AB (publ) announced Annual dividend of SEK 3.2500 per share payable on May 13, 2026, ex-date on May 07, 2026 and record date on May 08, 2026. Reported Earnings • Feb 06
Full year 2025 earnings released: EPS: kr7.99 (vs kr8.62 in FY 2024) Full year 2025 results: EPS: kr7.99 (down from kr8.62 in FY 2024). Revenue: kr7.94b (up 13% from FY 2024). Net income: kr1.56b (down 7.3% from FY 2024). Profit margin: 20% (down from 24% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Electronic industry in the United Kingdom. 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 23% per year, which means it is significantly lagging earnings growth. Announcement • Feb 06
Mycronic AB (publ), Annual General Meeting, May 06, 2026 Mycronic AB (publ), Annual General Meeting, May 06, 2026. Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: kr1.11 (vs kr2.30 in 3Q 2024) Third quarter 2025 results: EPS: kr1.11 (down from kr2.30 in 3Q 2024). Revenue: kr1.71b (down 4.0% from 3Q 2024). Net income: kr217.0m (down 52% from 3Q 2024). Profit margin: 13% (down from 25% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 24
Mycronic AB (publ) to Report Fiscal Year 2025 Final Results on Apr 01, 2026 Mycronic AB (publ) announced that they will report fiscal year 2025 final results at 9:00 AM, Central European Standard Time on Apr 01, 2026 Recent Insider Transactions • Sep 08
Insider recently sold kr1.5m worth of stock On the 1st of September, Clemens Jargon sold around 7k shares on-market at roughly kr210 per share. This transaction amounted to 66% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr699k more than they bought in the last 12 months. Reported Earnings • Jul 12
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: kr2.07b (up 35% from 2Q 2024). Net income: kr446.0m (up 55% from 2Q 2024). Profit margin: 22% (up from 19% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Electronic industry in the United Kingdom. Announcement • Jul 11
Mycronic AB (Publ) Provides Revenue Guidance for 2025 Mycronic AB (publ) provided revenue guidance for 2025. For the period, the company expects to revert to its original opinion regarding net sales for 2025 to be at a level of SEK 7.5 billion, from previously a level of SEK 7.0 to 7.5 billion. New Risk • Jun 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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. This is currently the only risk that has been identified for the company. Announcement • Jun 04
Mycronic AB (publ) (OM:MYCR) acquired remaining 92.50% stake in Surfx Technologies LLC. Mycronic AB (publ) (OM:MYCR) acquired remaining 92.50% stake in Surfx Technologies LLC on June 3, 2025. Surfx will form a new business line within the Global Technologies division of Mycronic.
Mycronic AB (publ) (OM:MYCR) completed the acquisition of remaining 92.50% stake in Surfx Technologies LLC on June 3, 2025. New Risk • Jun 03
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.9% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Board Change • Jun 01
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. 2 highly experienced directors. Independent Director Jens Hinrichsen was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 08
Mycronic AB (Publ) Approves Ordinary Dividend, Payable on May 14, 2025 Mycronic AB (publ) in its Annual General Meeting held on May 7, 2025 resolved in accordance with the Board of Directors' proposal, on a dividend of SEK 5.50 per share in ordinary dividend. The record date for receiving dividend was set to May 9, 2025, and the dividend is expected to be distributed on May 14, 2025. Upcoming Dividend • May 02
Upcoming dividend of kr7.50 per share Eligible shareholders must have bought the stock before 08 May 2025. Payment date: 14 May 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (6.0%). Lower than average of industry peers (1.7%). Buy Or Sell Opportunity • Apr 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to kr365. The fair value is estimated to be kr469, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 43%. Revenue is forecast to grow by 7.6% in 2 years. Earnings are forecast to grow by 2.4% in the next 2 years. Announcement • Apr 08
Mycronic AB (publ) (OM:MYCR) acquired RoBAT Ltd. Mycronic AB (publ) (OM:MYCR) acquired RoBAT Ltd. on April 7, 2025.
For the period ending December 31, 2024, RoBAT Ltd. reported total revenue of £3 million.
Mycronic AB (publ) (OM:MYCR) completed the acquisition of RoBAT Ltd. on April 7, 2025. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr356, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Electronic industry in the United Kingdom. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr470 per share. Buy Or Sell Opportunity • Apr 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.2% to kr380. The fair value is estimated to be kr477, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 7.8% per annum. Earnings are also forecast to grow by 8.3% per annum over the same time period. Reported Earnings • Apr 04
Full year 2024 earnings released: EPS: kr17.25 (vs kr10.22 in FY 2023) Full year 2024 results: EPS: kr17.25 (up from kr10.22 in FY 2023). Revenue: kr7.06b (up 24% from FY 2023). Net income: kr1.68b (up 69% from FY 2023). Profit margin: 24% (up from 18% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
Mycronic AB (publ) (OM:MYCR) acquired Hprobe SA from High-Tech Gründerfonds Management GmbH and others. Mycronic AB (publ) (OM:MYCR) acquired Hprobe SA from High-Tech Gründerfonds Management GmbH and others on March 13, 2025. As an early backer of Hprobe, HTGF, one of Europe’s leading seed investors, led a significant financing round in 2019 and has closely supported the successful development of the startup. As part of the transaction, HTGF has sold its stake. Hprobe is an innovative high-tech company, founded in 2017, with currently 14 employees. Net sales in 2024 amounted to €4 million. Hprobe will form a new business line within the Global Technologies division.
Mycronic AB (publ) (OM:MYCR) completed the acquisition of Hprobe SA from High-Tech Gründerfonds Management GmbH and others on March 13, 2025. Declared Dividend • Feb 12
Dividend increased to kr7.50 Dividend of kr7.50 is 67% higher than last year. Ex-date: 8th May 2025 Payment date: 14th May 2025 Dividend yield will be 1.5%, which is about the same as the industry average. Payout Ratios Payout ratio: 32%. Cash payout ratio: 32%. Announcement • Feb 09
Mycronic AB (Publ) Proposes Extra Dividend, Payable on May 14, 2025 The Board of Directors of Mycronic AB (publ) proposed an extra dividend of SEK 2.00 per share. The record date for entitlement to the dividend is proposed as May 9, 2025. Provided the Meeting resolves in favor of the dividend proposal, the dividend will be paid on May 14, 2025. Reported Earnings • Feb 07
Full year 2024 earnings released: EPS: kr17.25 (vs kr10.22 in FY 2023) Full year 2024 results: EPS: kr17.25 (up from kr10.22 in FY 2023). Revenue: kr7.06b (up 24% from FY 2023). Net income: kr1.68b (up 69% from FY 2023). Profit margin: 24% (up from 18% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Electronic industry in the United Kingdom. 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 35% per year. Announcement • Feb 07
Mycronic AB (publ), Annual General Meeting, May 07, 2025 Mycronic AB (publ), Annual General Meeting, May 07, 2025. Buy Or Sell Opportunity • Jan 08
Now 21% undervalued Over the last 90 days, the stock has risen 12% to kr416. The fair value is estimated to be kr527, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 4.8% in the next 2 years. Recent Insider Transactions • Dec 25
Independent Director recently bought kr796k worth of stock On the 20th of December, Staffan Dahlstrom bought around 2k shares on-market at roughly kr398 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr47m more in shares than they bought in the last 12 months. Buy Or Sell Opportunity • Oct 30
Now 21% undervalued Over the last 90 days, the stock has risen 15% to kr424. The fair value is estimated to be kr535, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 15% in the next 2 years. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: kr4.59 (vs kr2.10 in 3Q 2023) Third quarter 2024 results: EPS: kr4.59 (up from kr2.10 in 3Q 2023). Revenue: kr1.78b (up 40% from 3Q 2023). Net income: kr448.0m (up 119% from 3Q 2023). Profit margin: 25% (up from 16% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Electronic industry in the United Kingdom. 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 24% per year, which means it is significantly lagging earnings growth. Announcement • Oct 24
Mycronic AB (Publ) Reaffirms Sales Guidance for the Year 2024 Mycronic AB (publ) reaffirmed sales guidance for the year 2024. The board of directors' opinion remains that net sales for 2024 will be at a level of SEK 6.5 billion. Announcement • Oct 17
Mycronic AB (publ) (OM:MYCR) acquired Modus High Tech Electronics GmbH. Mycronic AB (publ) (OM:MYCR) acquired Modus High Tech Electronics GmbH on October 17, 2024.
For the period ending December 31, 2023, Modus High Tech Electronics GmbH reported total revenue of €4 million.
Mycronic AB (publ) (OM:MYCR) completed the acquisition of Modus High Tech Electronics GmbH on October 17, 2024. Announcement • Sep 13
Mycronic AB (publ) Appoints Nomination Committee Mycronic AB (publ) announced the Nomination Committee for Mycronic's 2025 Annual General Meeting has been appointed in accordance with the instructions for the Nomination Committee as decided by the 2024 Annual General Meeting. The Nomination Committee comprises: Henrik Blomquist, Bure Equity; Patrik Jönsson, SEB Funds; Thomas Ehlin, The Fourth Swedish National Pension Fund; Patrik Tigerschiöld, Chairman. Recent Insider Transactions • Sep 05
President & CEO recently bought kr2.1m worth of stock On the 2nd of September, Anders Lindqvist bought around 6k shares on-market at roughly kr372 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Anders has been a buyer over the last 12 months, purchasing a net total of kr886k worth in shares. Buy Or Sell Opportunity • Jul 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.3% to kr375. The fair value is estimated to be kr472, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 27% in the next 2 years. Reported Earnings • Jul 13
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr1.53b (up 23% from 2Q 2023). Net income: kr287.0m (up 114% from 2Q 2023). Profit margin: 19% (up from 11% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Electronic industry in the United Kingdom. Announcement • May 10
Mycronic AB (publ) to Report Q1, 2025 Results on Apr 25, 2025 Mycronic AB (publ) announced that they will report Q1, 2025 results on Apr 25, 2025 Announcement • May 09
Mycronic AB (Publ) Approves Dividend, Payable on May 16, 2024 The Annual General Meeting of Mycronic AB (publ) was held on May 8, 2024. The Annual General Meeting resolved, in accordance with the Board of Directors' proposal, on an ordinary dividend of SEK 4.50 per share. The record date for receiving dividend was set to May 13, 2024, and thedividend is expected to be distributed on May 16, 2024. Announcement • Apr 19
Mycronic AB (publ) Provides Sales Guidance for the Full Year 2024 Mycronic AB (publ) provided sales guidance for the full year 2024. The Board of Directors' opinion remains that consolidated net sales for 2024 will be at a level of SEK 6.25 billion. Announcement • Apr 16
Mycronic AB (Publ) Launches Two New Products Mycronic AB (publ) launched two new products: The Prexision 8000 Evo, a next generation display mask writer that meets the highest performance requirements for display photomasks and the MMX, a cost-effective metrology system for measuring semiconductor photomasks. The Prexision 8 Evo is Mycronic's most advanced mask writer for displays to date. It improves the resolution by 10% compared to the Prexision 800 Evo, while maintaining writing speed. The price range for the Prexision 8000 Evo in a standard configuration is USD 40-45 million. The MMX is a new system for measuring the position of the written pattern, thereby ensuring the quality of the produced semiconductor photomask. The MMX is based on the SLX mask writer platform and Mycronic's existing Prexision-MMS metrology system for display photomasks. The price range for the MMX is USD 2-4 million and the total market is estimated to be two to four systems per year. Reported Earnings • Apr 05
Full year 2023 earnings released: EPS: kr10.22 (vs kr7.59 in FY 2022) Full year 2023 results: EPS: kr10.22 (up from kr7.59 in FY 2022). Revenue: kr5.71b (up 12% from FY 2022). Net income: kr998.0m (up 35% from FY 2022). Profit margin: 18% (up from 14% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • Mar 21
Ivan Li Leaves Mycronic's Executive Management Mycronic AB (publ) announced as a result of the preparations ahead of a possible listing of Axxon on a stock exchange in China, effective March 19, 2024, Ivan Li leaves Mycronic's executive management but remains as Head of Axxon, the core of Mycronic´s High Volume division. The company has previously announced that the Board has decided to investigate the possibility of listing Axxon, the core of the High Volume division, on a stock exchange in China and floating a minority stake. Through this, Axxon would further strengthen its brand and market leadership position. By being more independent and having the means for fast expansion, the best possible conditions for Axxon are created to realize its success and full potential. However, the regulations stipulate that in such a situation, Ivan Li cannot be a member of Mycronic's executive management. Recent Insider Transactions • Mar 08
Insider recently sold kr2.0m worth of stock On the 5th of March, Clemens Jargon sold around 6k shares on-market at roughly kr354 per share. This transaction amounted to 82% 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 kr44m. Insiders have been net sellers, collectively disposing of kr48m more than they bought in the last 12 months. Recent Insider Transactions • Feb 23
Insider recently sold kr2.6m worth of stock On the 21st of February, Charlott Samuelsson sold around 8k shares on-market at roughly kr320 per share. This transaction amounted to 30% 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 kr44m. Insiders have been net sellers, collectively disposing of kr46m more than they bought in the last 12 months. Declared Dividend • Feb 18
Dividend increased to kr4.50 Dividend of kr4.50 is 29% higher than last year. Ex-date: 10th May 2024 Payment date: 16th May 2024 Dividend yield will be 1.3%, which is lower than the industry average of 1.6%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Feb 14
Chairman of the Board recently sold kr44m worth of stock On the 9th of February, Patrik Tigerschiold sold around 135k shares on-market at roughly kr327 per share. This transaction amounted to 57% 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 Patrik's only on-market trade for the last 12 months. New Risk • Feb 09
New major risk - Revenue and earnings growth Earnings have declined by 4.6% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: kr2.10 (vs kr1.56 in 3Q 2022) Third quarter 2023 results: EPS: kr2.10 (up from kr1.56 in 3Q 2022). Revenue: kr1.27b (up 4.9% from 3Q 2022). Net income: kr205.0m (up 35% from 3Q 2022). Profit margin: 16% (up from 13% in 3Q 2022). 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 4% per year, which means it is well ahead of earnings. Announcement • Oct 19
Mycronic AB (Publ) Provides Sales Guidance for the Year 2023 Mycronic AB (publ) provided sales guidance for the year 2023. The Board of Directors' opinion remains that net sales for 2023 will be at a level of SEK 5.5 billion. Announcement • Sep 21
Mycronic Appoints Nomination Committee The Nomination Committee for Mycronic’s 2024 Annual General Meeting has been appointed in accordance with the instructions for the Nomination Committee as decided by the 2023 Annual General Meeting. The Nomination Committee comprises: Henrik Blomquist, Bure Equity. Patrik Jönsson, SEB Funds. Thomas Ehlin, The Fourth Swedish National Pension Fund. Patrik Tigerschiöld, Chairman. Recent Insider Transactions • Sep 06
Insider recently bought kr547k worth of stock On the 1st of September, Charlott Samuelsson bought around 2k shares on-market at roughly kr220 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr61k more in shares than they have sold in the last 12 months. Reported Earnings • Jul 14
Second quarter 2023 earnings released: EPS: kr1.37 (vs kr1.79 in 2Q 2022) Second quarter 2023 results: EPS: kr1.37 (down from kr1.79 in 2Q 2022). Revenue: kr1.25b (down 2.2% from 2Q 2022). Net income: kr134.0m (down 23% from 2Q 2022). Profit margin: 11% (down from 14% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. 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 12% per year, which means it is well ahead of earnings. Announcement • Jul 14
Mycronic AB (Publ) Provides Sales Guidance for the Year 2023 Mycronic AB (publ) provided sales guidance for the year 2023. For the period, company expects net sales to be at a level of SEK 5.5 billion. Announcement • May 10
Mycronic AB (publ) Approves Ordinary Dividend, Payable on May 16, 2023 Mycronic AB (publ) at its Annual General Meeting held on May 9, 2023, approved an ordinary dividend of SEK 3.50 per share. The record date for receiving dividend was set to May 11, 2023, and the dividend is expected to be distributed on May 16, 2023. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr212, the stock trades at a trailing P/E ratio of 28.5x. Average forward P/E is 21x in the Electronic industry in the United Kingdom. Total returns to shareholders of 35% over the past three years. Upcoming Dividend • May 03
Upcoming dividend of kr3.50 per share at 1.7% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 16 May 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (1.4%). Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: kr7.59 (vs kr8.48 in FY 2021) Full year 2022 results: EPS: kr7.59 (down from kr8.48 in FY 2021). Revenue: kr5.12b (up 10% from FY 2021). Net income: kr741.0m (down 11% from FY 2021). Profit margin: 14% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: kr7.59 (vs kr8.48 in FY 2021) Full year 2022 results: EPS: kr7.59 (down from kr8.48 in FY 2021). Revenue: kr5.12b (up 10% from FY 2021). Net income: kr741.0m (down 11% from FY 2021). Profit margin: 14% (down from 18% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Oct 21
Third quarter 2022 earnings released: EPS: kr1.56 (vs kr0.82 in 3Q 2021) Third quarter 2022 results: EPS: kr1.56 (up from kr0.82 in 3Q 2021). Revenue: kr1.21b (up 23% from 3Q 2021). Net income: kr152.0m (up 90% from 3Q 2021). Profit margin: 13% (up from 8.1% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 21% share price gain to kr150, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 19x in the Electronic industry in the United Kingdom. Total returns to shareholders of 27% over the past three years. Reported Earnings • Jul 16
Second quarter 2022 earnings released: EPS: kr1.79 (vs kr1.84 in 2Q 2021) Second quarter 2022 results: EPS: kr1.79 (down from kr1.84 in 2Q 2021). Revenue: kr1.27b (up 20% from 2Q 2021). Net income: kr175.0m (down 2.8% from 2Q 2021). Profit margin: 14% (down from 17% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.8%, compared to a 9.4% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has remained flat. Upcoming Dividend • Apr 29
Upcoming dividend of kr3.00 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 12 May 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (4.6%). Higher than average of industry peers (1.4%). Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: kr1.69 (vs kr3.99 in 1Q 2021) First quarter 2022 results: EPS: kr1.69 (down from kr3.99 in 1Q 2021). Revenue: kr1.14b (down 12% from 1Q 2021). Net income: kr165.0m (down 58% from 1Q 2021). Profit margin: 14% (down from 30% in 1Q 2021). The decrease in margin was primarily driven by lower revenue. Over the next year, revenue is forecast to grow 12%, compared to a 8.2% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Recent Insider Transactions • Apr 27
Independent Director recently bought kr664k worth of stock On the 22nd of April, Staffan Dahlstrom bought around 4k shares on-market at roughly kr166 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr2.8m more in shares than they have sold in the last 12 months. Reported Earnings • Apr 07
Full year 2021 earnings released: EPS: kr8.48 (vs kr7.10 in FY 2020) Full year 2021 results: EPS: kr8.48 (up from kr7.10 in FY 2020). Revenue: kr4.64b (up 19% from FY 2020). Net income: kr828.0m (up 19% from FY 2020). Profit margin: 18% (in line with FY 2020). Over the next year, revenue is forecast to grow 4.5%, compared to a 8.3% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Buying Opportunity • Mar 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be kr221, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Buying Opportunity • Mar 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be kr221, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Buying Opportunity • Mar 04
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be kr219, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Recent Insider Transactions • Feb 13
Independent Director recently bought kr561k worth of stock On the 11th of February, Robert Larsson bought around 3k shares on-market at roughly kr187 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr2.5m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr8.48 (up from kr7.10 in FY 2020). Revenue: kr4.64b (up 19% from FY 2020). Net income: kr828.0m (up 19% from FY 2020). Profit margin: 18% (in line with FY 2020). Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 9.9%, compared to a 6.3% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Recent Insider Transactions • Nov 12
Independent Director recently bought kr613k worth of stock On the 11th of November, Staffan Dahlstrom bought around 3k shares on-market at roughly kr204 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr1.0m. Insiders have collectively bought kr1.9m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Oct 24
President & CEO recently bought kr1.0m worth of stock On the 22nd of October, Anders Lindqvist bought around 5k shares on-market at roughly kr198 per share. This was the largest purchase by an insider in the last 3 months. This was Anders' only on-market trade for the last 12 months. Reported Earnings • Oct 22
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr986.0m (down 7.7% from 3Q 2020). Net income: kr80.0m (down 70% from 3Q 2020). Profit margin: 8.1% (down from 25% in 3Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. 
