Price Target Changed • May 15
Price target increased by 8.3% to kr138 Up from kr127, the current price target is an average from 4 analysts. New target price is 17% above last closing price of kr118. Stock is up 39% over the past year. The company is forecast to post earnings per share of kr6.24 for next year compared to kr2.79 last year. Reported Earnings • May 15
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: kr0.68 (up from kr0.29 loss in 1Q 2025). Revenue: kr1.74b (up 102% from 1Q 2025). Net income: kr34.7m (up kr46.4m from 1Q 2025). Profit margin: 2.0% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 83%. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Norway. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 13
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from kr7.99b to kr8.20b. EPS estimate increased from kr5.81 to kr6.47 per share. Net income forecast to grow 149% next year vs 37% growth forecast for Machinery industry in Norway. Consensus price target up from kr127 to kr136. Share price was steady at kr118 over the past week. Announcement • Apr 25
Endúr ASA announces Annual dividend, payable on June 03, 2026 Endúr ASA announced Annual dividend of NOK 0.8000 per share payable on June 03, 2026, ex-date on May 21, 2026 and record date on May 22, 2026. Price Target Changed • Mar 02
Price target increased by 8.0% to kr126 Up from kr116, the current price target is an average from 4 analysts. New target price is 17% above last closing price of kr107. Stock is up 48% over the past year. Reported Earnings • Mar 02
Full year 2025 earnings released Full year 2025 results: Revenue: kr6.42b (up 130% from FY 2024). Net income: kr137.3m (up 216% from FY 2024). Profit margin: 2.1% (up from 1.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in Norway. Announcement • Dec 23
Endúr ASA, Annual General Meeting, May 20, 2026 Endúr ASA, Annual General Meeting, May 20, 2026. Reported Earnings • Nov 17
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: kr1.27 (up from kr0.30 in 3Q 2024). Revenue: kr1.84b (up 147% from 3Q 2024). Net income: kr63.9m (up 476% from 3Q 2024). Profit margin: 3.5% (up from 1.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.1%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Machinery industry in Norway. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from kr6.52b to kr6.29b. EPS estimate also fell from kr2.91 per share to kr2.62 per share. Net income forecast to grow 243% next year vs 45% growth forecast for Machinery industry in Norway. Consensus price target of kr115 unchanged from last update. Share price was steady at kr85.00 over the past week. Reported Earnings • Aug 22
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: kr0.84 (up from kr0.49 in 2Q 2024). Revenue: kr1.69b (up 144% from 2Q 2024). Net income: kr42.5m (up 134% from 2Q 2024). Profit margin: 2.5% (in line with 2Q 2024). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) also missed analyst estimates by 3.0%. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Machinery industry in Norway. 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 46% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Aug 21
Price target increased by 7.3% to kr110 Up from kr103, the current price target is an average from 2 analysts. New target price is 19% above last closing price of kr92.60. Stock is up 62% over the past year. The company is forecast to post earnings per share of kr3.22 for next year compared to kr1.18 last year. Major Estimate Revision • May 22
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from kr3.50 to kr2.97 per share. Revenue forecast steady at kr6.63b. Net income forecast to grow 437% next year vs 32% growth forecast for Machinery industry in Norway. Consensus price target of kr103 unchanged from last update. Share price rose 3.5% to kr88.10 over the past week. Reported Earnings • May 16
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: kr0.29 loss per share (further deteriorated from kr0.17 loss in 1Q 2024). Revenue: kr863.1m (up 50% from 1Q 2024). Net loss: kr11.7m (loss widened 86% from 1Q 2024). Revenue missed analyst estimates by 25%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Machinery industry in Norway. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risk Significant insider selling over the past 3 months (kr2.5m sold). Major Estimate Revision • Mar 14
Consensus revenue estimates increase by 31%, EPS downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from kr5.01b to kr6.58b. EPS estimate fell from kr4.09 to kr3.63. Net income forecast to grow 258% next year vs 25% growth forecast for Machinery industry in Norway. Consensus price target of kr104 unchanged from last update. Share price rose 2.2% to kr72.90 over the past week. New Risk • Mar 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 16% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Significant insider selling over the past 3 months (kr2.5m sold). Recent Insider Transactions • Mar 12
Chief Financial Officer recently sold kr2.5m worth of stock On the 5th of March, Einar Olsen sold around 35k shares on-market at roughly kr71.30 per share. This transaction amounted to 31% 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 Einar's only on-market trade for the last 12 months. Major Estimate Revision • Feb 25
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from kr6.86b to kr6.31b. EPS estimate rose from kr3.65 to kr4.09. Net income forecast to grow 253% next year vs 16% growth forecast for Machinery industry in Norway. Consensus price target up from kr100.00 to kr104. Share price was steady at kr76.50 over the past week. Price Target Changed • Feb 24
Price target increased by 9.5% to kr104 Up from kr95.00, the current price target is an average from 2 analysts. New target price is 34% above last closing price of kr77.50. Stock is up 110% over the past year. The company is forecast to post earnings per share of kr3.63 for next year compared to kr1.28 last year. Major Estimate Revision • Feb 17
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from kr3.86b to kr4.01b. EPS estimate fell from kr4.31 to kr3.65 per share. Net income forecast to grow 270% next year vs 16% growth forecast for Machinery industry in Norway. Consensus price target up from kr95.00 to kr100.00. Share price rose 2.2% to kr77.70 over the past week. Reported Earnings • Feb 11
Full year 2024 earnings released: EPS: kr1.28 (vs kr0.84 loss in FY 2023) Full year 2024 results: EPS: kr1.28 (up from kr0.84 loss in FY 2023). Revenue: kr2.79b (up 41% from FY 2023). Net income: kr47.0m (up kr74.0m from FY 2023). Profit margin: 1.7% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Norway. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Dec 03
Consensus EPS estimates fall by 33% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from kr2.15 to kr1.43 per share. Revenue forecast steady at kr2.81b. Net income forecast to grow 3,390% next year vs 23% growth forecast for Machinery industry in Norway. Consensus price target of kr70.00 unchanged from last update. Share price rose 2.4% to kr64.50 over the past week. Major Estimate Revision • Nov 24
Consensus EPS estimates increase by 50% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from kr1.43 to kr2.15. Revenue forecast steady at kr2.82b. Net income forecast to grow 4,136% next year vs 24% growth forecast for Machinery industry in Norway. Consensus price target of kr70.00 unchanged from last update. Share price rose 3.8% to kr62.50 over the past week. Reported Earnings • Nov 17
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: kr0.30 (down from kr0.61 in 3Q 2023). Revenue: kr744.4m (up 76% from 3Q 2023). Net income: kr11.1m (down 45% from 3Q 2023). Profit margin: 1.5% (down from 4.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 66%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Norway. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 15
Price target increased by 7.7% to kr70.00 Up from kr65.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of kr60.20. Stock is up 40% over the past year. The company is forecast to post earnings per share of kr1.43 next year compared to a net loss per share of kr0.84 last year. Major Estimate Revision • Aug 29
Consensus EPS estimates increase by 30% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from kr1.65 to kr2.15. Revenue forecast steady at kr2.82b. Net income forecast to grow 978% next year vs 18% growth forecast for Machinery industry in Norway. Consensus price target of kr65.00 unchanged from last update. Share price rose 7.5% to kr61.30 over the past week. Reported Earnings • Aug 23
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: kr0.49 (down from kr0.66 in 2Q 2023). Revenue: kr691.8m (up 27% from 2Q 2023). Net income: kr18.2m (down 15% from 2Q 2023). Profit margin: 2.6% (down from 3.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 150%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Norway. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Aug 20
Endúr ASA, Annual General Meeting, May 15, 2025 Endúr ASA, Annual General Meeting, May 15, 2025. New Risk • May 16
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 54% 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 (54% net debt to equity). Shareholders have been diluted in the past year (13% increase in shares outstanding). Reported Earnings • Apr 29
Full year 2023 earnings released: kr0.84 loss per share (vs kr0.33 profit in FY 2022) Full year 2023 results: kr0.84 loss per share (down from kr0.33 profit in FY 2022). Revenue: kr1.98b (down 21% from FY 2022). Net loss: kr27.0m (down 397% from profit in FY 2022). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Machinery industry in Norway. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 23
Full year 2023 earnings released: kr0.83 loss per share (vs kr0.33 profit in FY 2022) Full year 2023 results: kr0.83 loss per share (down from kr0.33 profit in FY 2022). Revenue: kr1.98b (down 21% from FY 2022). Net loss: kr27.2m (down 399% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Dec 16
Endúr ASA (OB:ENDUR) completed the acquisition of Repstad Anlegg AS. Endúr ASA (OB:ENDUR) agreed to acquire 100% stake in Repstad Anlegg As for NOK 317 million on November 7, 2023. As per agreement NOK 167 million will be paid in consideration shares with the lock-up period restrictions of being released with 1/3 after 6 months, 1/3 after 12 months and 1/3 after 24 months, seller’s credit of NOK 50 million, due by June 30 2026, and NOK 100 million bank loan from SpareBank 1 SMN and SpareBank 1 SR-Bank. The transaction includes an earn-out of +/- 2x (EBIT2023-2025 – NOK 150 million), capped and floored at +NOK 100 million and -NOK 50 million, due by 30 June 2026 and 250,000 new options to be issued to Repstad management. The transaction values Repstad at NOK 315 million on a cash- and debt-free basis (NOK 455 million incl. leasing. The transaction is subject to approval from The Norwegian Competition Authority and certain customary conditions. The transaction is expected to be completed by early December of 2023.
Endúr ASA (OB:ENDUR) completed the acquisition of Repstad Anlegg AS on December 14, 2023. Recent Insider Transactions • Nov 14
Chief Executive Officer recently bought kr126k worth of stock On the 10th of November, Jeppe Raaholt bought around 3k shares on-market at roughly kr42.00 per share. This transaction amounted to 1.5% 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 Jeppe's only on-market trade for the last 12 months. Reported Earnings • Nov 10
Third quarter 2023 earnings released Third quarter 2023 results: EPS: kr0.61. Revenue: kr421.9m (down 29% from 3Q 2022). Net income: kr20.0m (up kr18.3m from 3Q 2022). Profit margin: 4.7% (up from 0.3% in 3Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Nov 09
Endúr ASA (OB:ENDUR) agreed to acquire 100% stake in Repstad Anlegg As for NOK 317 million. Endúr ASA (OB:ENDUR) agreed to acquire 100% stake in Repstad Anlegg As for NOK 317 million on November 7, 2023. As per agreement NOK 167 million will be paid in consideration shares with the lock-up period restrictions of being released with 1/3 after 6 months, 1/3 after 12 months and 1/3 after 24 months, seller’s credit of NOK 50 million, due by June 30 2026, and NOK 100 million bank loan from SpareBank 1 SMN and SpareBank 1 SR-Bank. The transaction includes an earn-out of +/- 2x (EBIT2023-2025 – NOK 150 million), capped and floored at +NOK 100 million and -NOK 50 million, due by 30 June 2026 and 250,000 new options to be issued to Repstad management. The transaction values Repstad at NOK 315 million on a cash- and debt-free basis (NOK 455 million incl. leasing. The transaction is subject to approval from The Norwegian Competition Authority and certain customary conditions. The transaction is expected to be completed by early December of 2023. Reported Earnings • May 03
Full year 2022 earnings released: EPS: kr0.33 (vs kr3.09 loss in FY 2021) Full year 2022 results: EPS: kr0.33 (up from kr3.09 loss in FY 2021). Revenue: kr2.51b (up 25% from FY 2021). Net income: kr9.10m (up kr76.2m from FY 2021). Profit margin: 0.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 9% per year. Recent Insider Transactions • Mar 12
Board Member recently sold kr5.5m worth of stock On the 9th of March, Jorn Ryberg sold around 135k shares on-market at roughly kr40.50 per share. This transaction amounted to 7.0% 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 kr4.6m more than they bought in the last 12 months. Reported Earnings • Feb 28
Full year 2022 earnings released Full year 2022 results: Revenue: kr2.51b (up 25% from FY 2021). Net income: kr9.10m (up kr76.2m from FY 2021). Profit margin: 0.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Reported Earnings • Nov 20
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr592.6m (up 4.4% from 3Q 2021). Net income: kr1.70m (up kr5.40m from 3Q 2021). Profit margin: 0.3% (up from net loss in 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Board Member Hedvig Reiersen was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improved over the past week After last week's 17% share price gain to kr33.36, the stock trades at a trailing P/E ratio of 31x. Average trailing P/E is 18x in the Machinery industry in Norway. Total loss to shareholders of 53% over the past three years. Recent Insider Transactions • Oct 12
Chief Executive Officer recently bought kr335k worth of stock On the 11th of October, Jeppe Raaholt bought around 11k shares on-market at roughly kr30.75 per share. This transaction amounted to 9.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jeppe has been a buyer over the last 12 months, purchasing a net total of kr1.2m worth in shares. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 15% share price gain to kr28.00, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 19x in the Machinery industry in Norway. Total loss to shareholders of 65% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to kr22.30, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 16x in the Machinery industry in Norway. Total loss to shareholders of 73% over the past three years. Reported Earnings • Aug 28
Second quarter 2022 earnings released: EPS: kr0.68 (vs kr1.98 loss in 2Q 2021) Second quarter 2022 results: EPS: kr0.68 (up from kr1.98 loss in 2Q 2021). Revenue: kr626.8m (up 16% from 2Q 2021). Net income: kr18.8m (up kr61.3m from 2Q 2021). Profit margin: 3.0% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • May 19
Chief Executive Officer recently bought kr329k worth of stock On the 17th of May, Jeppe Raaholt bought around 700k shares on-market at roughly kr0.47 per share. This was the largest purchase by an insider in the last 3 months. Jeppe has been a buyer over the last 12 months, purchasing a net total of kr845k worth in shares. Reported Earnings • May 03
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: kr0.062 loss per share (up from kr0.22 loss in FY 2020). Revenue: kr2.01b (up kr1.73b from FY 2020). Net loss: kr67.1m (flat on FY 2020). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Board Member Hedvig Reiersen was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 08
DeepOcean Group Holding AS entered into an agreement to acquire Installit As from Endúr ASA (OB:ENDUR) for NOK 20.8 million. DeepOcean Group Holding AS entered into an agreement to acquire Installit As from Endúr ASA (OB:ENDUR) for NOK 20.8 million on April 7, 2022. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: kr2.01b (up 396% from FY 2020). Net loss: kr84.2m (loss narrowed 84% from FY 2020). Revenue missed analyst estimates by 1.2%. Recent Insider Transactions • Nov 04
Insider recently bought kr736k worth of stock On the 1st of November, Kristine Landmark bought around 1m shares on-market at roughly kr0.74 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr2.0m more in shares than they have sold in the last 12 months. Reported Earnings • Sep 02
Second quarter 2021 earnings released: kr0.04 loss per share (vs kr0.086 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: kr542.3m (up kr465.0m from 2Q 2020). Net loss: kr42.5m (loss widened 413% from 2Q 2020). Recent Insider Transactions • Jul 07
Insider recently bought kr503k worth of stock On the 29th of June, Jörn Ryberg bought around 504k shares on-market at roughly kr1.00 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr725k more in shares than they have sold in the last 12 months. Reported Earnings • May 22
First quarter 2021 earnings released: kr0.049 loss per share (vs kr0.01 loss in 1Q 2020) The company reported a decent first quarter result with improved revenues, although losses increased and control over costs was weaker. First quarter 2021 results: Revenue: kr252.3m (up 135% from 1Q 2020). Net loss: kr41.6m (loss widened kr39.2m from 1Q 2020). Announcement • Feb 03
Endúr ASA (OB:ENDUR) entered into a share purchase agreement to acquire Marcon-Gruppen I Sverige Ab from Jörn Ryberg and Cygnus Olor Ab for SEK 460 million. Endúr ASA (OB:ENDUR) entered into a share purchase agreement to acquire Marcon-Gruppen I Sverige Ab from Jörn Ryberg and Cygnus Olor Ab for SEK 460 million on February 2, 2021. Under the terms of the share purchase agreement, Endúr will acquire 100 percent of the shares in Marcon based on an enterprise value of SEK 460 million, which corresponds to an equity value of SEK 400 million. The purchase price will be settled by SEK 260 million in cash and SEK 140 million in Endúr shares at a subscription price of NOK 1.3308 per share. The sellers have accepted lock-up obligations on the Consideration Shares vesting over a 24 months’ period. Endúr aims to finance the cash consideration with long-term debt in the form of bank or bond loans on competitive terms from one or more third parties. For the calendar year 2020, Marcon delivered revenues of SEK 441 million and an EBITDA-result of SEK 105.9 million. Completion of the acquisition is subject to approval by the general meeting of Endúr and that Endúr has obtained sufficient financing of the cash part of the acquisition. The transaction is expected to be closed by end-March 2021. Arctic Securities AS is acting as financial advisor and Wikborg Rein & Co. is acting as legal advisor to Endúr in connection with the acquisition. Endúr's proforma revenues for 2020 will exceed NOK 2 billion following the acquisition. The transaction is priced at an LTM EV/EBITDA multiple of 4.3x, hence highly accretive for Endur's shareholders. Announcement • Jan 12
Endúr ASA (OB:ENDUR) entered into an agreement to acquire Artec Aqua AS from Bjørn Finnøy, Victor Fiveland and Bjørnar Flem for NOK 690 million. Endúr ASA (OB:ENDUR) entered into an agreement to acquire Artec Aqua AS from Bjørn Finnøy, Victor Fiveland and Bjørnar Flem for NOK 690 million on January 11, 2021. Under the terms of the Agreement, Endúr will acquire 100% of the shares in Artec Aqua, based on an enterprise value of NOK 600 million, which corresponds to an equity value of NOK 690 million. The purchase price will be settled by NOK 345 million in cash and NOK 345 million in Endúr shares at a subscription price of NOK 1.1861 per share. Artec Aqua is owned jointly 33.3% each by the three co-founders, head of sales, Bjørn Finnøy; R&D manager, Victor Fiveland; and head of sourcing & logistics, Bjørnar Flem. All three will continue in their current roles and re-invest 50% of the total purchase consideration in Endúr shares, thereby demonstrating their buy-in to Endúr’s vision and continued commitment to Artec Aqua. The cash part of the transaction is fully funded through a long term debt facility offered by a leading Norwegian bank and by an undertaking from the majority shareholders of Endúr, Songa Capital AS, Tigerstaden Marine AS, Middelborg Invest AS, Bever Holding AS and Gimle Invest AS to make available a shareholder loan in the aggregate amount of NOK 102 million against a guarantee provision of 2% of such commitment. The bank facility together with the financing from existing shareholders will fully fund the cash part of the transaction. Endúr will also consider other financing options to finance the cash part of the transaction and has engaged Arctic Securities AS, Pareto Securities AS and SpareBank1 Markets AS in that respect. Artec Aqua will continue to operate in the market under its current brand name. Completion of the transaction is subject to customary closing conditions, including competition clearance, approval by the board of directors of Endúr and Artec Aqua, approval by an extraordinary general meeting in Endúr, change of control consents from Artec Aqua’s contracting parties, as well as none of the parties being in material breach of the agreement. The transaction is expected to be closed by mid of February 2021. Wikborg Rein Advokatfirma AS has acted as Endúr’s legal adviser for the transaction. Sparebank 1 SR-Bank Markets acted as financial adviser and SANDS Advokatfirma DA acted as legal adviser for Artec Aqua and its shareholders for the transaction. Recent Insider Transactions • Nov 25
Chief Operating Officer recently bought kr221k worth of stock On the 24th of November, Stig Høiland bought around 200k shares on-market at roughly kr1.11 per share. This was the largest purchase by an insider in the last 3 months. This was Stig's only on-market trade for the last 12 months. Is New 90 Day High Low • Nov 16
New 90-day low: kr1.18 The company is down 19% from its price of kr1.45 on 18 August 2020. The Norwegian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 6.0% over the same period. Price Target Changed • Nov 11
Price target lowered to kr1.60 Down from kr1.75, the current price target is provided by 1 analyst. The new target price is 8.5% above the current share price of kr1.48. As of last close, the stock is up 14% over the past year. Is New 90 Day High Low • Oct 14
New 90-day high: kr1.75 The company is up 16% from its price of kr1.50 on 16 July 2020. The Norwegian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 13% over the same period.