New Risk • May 02
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2024. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2024 fiscal period end). Revenue has declined by 0% over the past year. Revenue is less than US$1m (€2.0k revenue, or US$2.3k). Minor Risk Market cap is less than US$100m (€42.6m market cap, or US$50.0m). New Risk • Dec 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Dutch stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 15% per year over the past 5 years. Revenue is less than US$1m (€2.0k revenue, or US$2.4k). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (5.3% average weekly change). Market cap is less than US$100m (€39.2m market cap, or US$46.2m). New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Dutch stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 15% per year over the past 5 years. Revenue is less than US$1m (€2.0k revenue, or US$2.3k). Minor Risk Market cap is less than US$100m (€30.7m market cap, or US$35.7m). New Risk • Mar 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m (€2.0k revenue, or US$2.2k). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€46.1m market cap, or US$49.9m). Announcement • May 31
Bever Holding NV, Annual General Meeting, Jun 27, 2024 Bever Holding NV, Annual General Meeting, Jun 27, 2024. Location: the hague marriott hotel, johan de wittlaan 30 2517 jr den haag., Netherlands New Risk • Dec 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 39% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Revenue is less than US$5m (€1.1m revenue, or US$1.2m). Market cap is less than US$100m (€56.3m market cap, or US$60.5m). Reported Earnings • May 27
Full year 2022 earnings released: €3.07 loss per share (vs €2.31 profit in FY 2021) Full year 2022 results: €3.07 loss per share (down from €2.31 profit in FY 2021). Net loss: €52.3m (down 233% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Oct 04
First half 2022 earnings released: €3.45 loss per share (vs €0.017 loss in 1H 2021) First half 2022 results: €3.45 loss per share (further deteriorated from €0.017 loss in 1H 2021). Net loss: €58.8m (loss widened €58.5m from 1H 2021). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 20
Full year 2020 earnings released: €0.18 loss per share (vs €0.12 loss in FY 2019) Full year 2020 results: Net loss: €3.09m (loss widened 52% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 27
New 90-day low: €3.60 The company is down 24% from its price of €4.76 on 28 October 2020. The Dutch market is up 27% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 12% over the same period. Announcement • Oct 20
Endúr ASA (OB:ENDUR) entered into a share purchase agreement to acquire Bmo Entreprenor As from Bever Holding NV (ENXTAM:BEVER) for approximately NOK 450 million. Endúr ASA (OB:ENDUR) entered into a share purchase agreement to acquire Bmo Entreprenor As from Bever Holding NV (ENXTAM:BEVER) for approximately NOK 450 million on October 19,2020. Under the terms of the Agreement, the consideration includes a payment of NOK 156.8 million in Endúr ASA shares at NOK 1,459 per share, NOK 110 million in Bever Holding NV’s credit with maturity by end of June 2021, and NOK 181.10 million cash. The consideration shares will be issued on completion of the transaction using an authorisation to be proposed granted to the Board of Directors of Endúr ASA. Bever Holding NV has accepted lock-up obligations on the consideration shares vesting 1/3 per 12 months over a period of 36 months for sellers who are involved in day to day business (including Bever Holding) and 24 months for sellers not involved in day to day business, following completion of the Transaction. The consideration shares will be issued on a separate ISIN awaiting approval of a prospectus or exempted document, expected to be published in the beginning of December 2020. Following completion of the Transaction, current majority owner (80.82%) of BMO Entreprenor, Vidar Pettersen’s Bever Holding, becomes a large shareholder in Endúr ASA. In addition, management and key employees of BMO Entreprenor, including managing director Jeppe Raaholt, will also become shareholders in Endúr ASA on the same terms as Bever Holding. Endúr ASA considers entering into a loan facility with a Norwegian bank to finance the cash settlement in the transaction. Post closing, Bmo Entreprenor As will continue to operate in the market under its current brand name.
Bmo Entreprenor As generated revenues of NOK 480 million and an adjusted EBITDA of NOK 62 million, equivalent to an EBITDA-margin of 13 percent for the year ended December 31, 2019. The transaction is subject customary closing conditions, including but not limited to antitrust regulations, change of control consents from Bmo Entreprenor As’s contracting parties, approval by the general meeting of Endúr ASA as well as none of the parties being in material breach of the agreement. The transaction is expected to be closed during November 2020. The transaction is said to be accretive. Wikborg Rein & Co. acted as legal advisor to Endúr ASA. Reported Earnings • Oct 06
First half earnings released Over the last 12 months the company has reported total losses of €1.88m, with earnings decreasing by €5.17m from the prior year. 