Announcement • Jan 09
Self Storage Group ASA (OB:SSG) completed the acquisition of Property in Sandviken. Self Storage Group ASA (OB:SSG) agreed to acquire Property in Sandviken for NOK 7.5 million January 9, 2023. The property has a potential lettable area of 430 square meters. The facility is projected to open in Q3 2023 and will be operated under the OK Minilager brand.
Self Storage Group ASA (OB:SSG) completed the acquisition of Property in Sandviken on January 9, 2024, which is an estimated completion date. Announcement • Sep 22
T-C Storage Holdco Intends to Propose AGM to De-List the Shares of the Self Storage Self Storage Group ASA (the "Company") and T-C Storage HoldCo AB (the "Offeror"), advised by Nuveen Asset Management Europe S.à.r.l. ("Nuveen"), announced that they have reached an agreement whereby the Offeror, subject to certain terms and conditions, will launch a recommended voluntary cash tender offer (the "Offer") for 100% of the shares (the "Shares") of the Company. If, as a result of the Offer or otherwise, the Offeror acquires and holds more than 90% of the total issued share capital of the Company representing more than 90% of the voting rights in the Company, the Offeror intends to carry out a compulsory acquisition of the remaining Shares in the Company. Also, if the Offeror following completion of the Offer or otherwise holds a sufficient majority of the Shares in the Company, the Offeror intends to propose to the general meeting of the Company that an application is filed with Oslo Stock Exchange to de-list the shares of the Company. Price Target Changed • Sep 20
Price target increased by 54% to kr40.00 Up from kr26.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of kr39.60. Stock is up 49% over the past year. The company is forecast to post earnings per share of kr0.53 next year compared to a net loss per share of kr0.09 last year. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: kr0.13 (vs kr0.23 in 2Q 2022) Second quarter 2023 results: EPS: kr0.13 (down from kr0.23 in 2Q 2022). Revenue: kr104.2m (up 6.5% from 2Q 2022). Net income: kr12.7m (down 41% from 2Q 2022). Profit margin: 12% (down from 22% in 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 37% growth forecast for the Commercial Services industry in Norway. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Jul 06
Self Storage Group ASA (OB:SSG) entered into an agreement to acquire Property in Gjøvik for NOK 18.9 million. Self Storage Group ASA (OB:SSG) entered into an agreement to acquire Property in Gjøvik for NOK 18.9 million on July 4, 2023. The facility is projected to open in first half of 2024 and will be operated under the City Self-Storage brand. Reported Earnings • Feb 20
Full year 2022 earnings released: kr0.09 loss per share (vs kr3.96 profit in FY 2021) Full year 2022 results: kr0.09 loss per share (down from kr3.96 profit in FY 2021). Revenue: kr392.2m (up 13% from FY 2021). Net loss: kr8.55m (down 102% from profit in FY 2021). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, while revenues in the Commercial Services industry in Norway are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jan 24
Self Storage Group ASA (OB:SSG) entered into an agreement to acquire Property in Friis Hansens vej 9 in Vejle for DKK 11 million. Self Storage Group ASA (OB:SSG) entered into an agreement to acquire Property in Friis Hansens vej 9 in Vejle for DKK 11 million on January 23, 2023. The facility is projected to open in Q4 2023, and will be operated under the City Self-Storage brand. Announcement • Jan 11
Self Storage Group ASA (OB:SSG) agreed to acquire Property in Sandviken for NOK 7.5 million. Self Storage Group ASA (OB:SSG) agreed to acquire Property in Sandviken for NOK 7.5 million January 9, 2023. The property has a potential lettable area of 430 square meters. The facility is projected to open in Q3 2023 and will be operated under the OK Minilager brand. Announcement • Dec 07
Self Storage Group ASA (OB:SSG) agreed to acquire Property in Grimstad for NOK 10.2 million. Self Storage Group ASA (OB:SSG) agreed to acquire Property in Grimstad for NOK 10.2 million on December 6, 2022. The facility is projected to open in Q2 2023 and will be operated under the OK Minilager brand. Price Target Changed • Nov 16
Price target decreased to kr27.00 Down from kr30.00, the current price target is provided by 1 analyst. New target price is 8.0% above last closing price of kr25.00. Stock is down 22% over the past year. The company is forecast to post earnings per share of kr0.27 for next year compared to kr3.96 last year. 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. 5 non-independent directors. Chairman of the Board Steven Skaar was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: kr0.73 loss per share (down from kr0.34 profit in 3Q 2021). Revenue: kr101.9m (up 9.8% from 3Q 2021). Net loss: kr69.0m (down 332% from profit in 3Q 2021). Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 4.6% decline forecast for the Commercial Services industry in Norway. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improved over the past week After last week's 18% share price gain to kr28.20, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Commercial Services industry in Europe. Total returns to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 17% share price gain to kr27.90, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total returns to shareholders of 29% over the past three years. Recent Insider Transactions • Sep 24
Insider recently bought kr78k worth of stock On the 23rd of September, Lars Moen bought around 3k shares on-market at roughly kr25.90 per share. This transaction amounted to 12% 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 kr499k more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorated over the past week After last week's 20% share price decline to kr26.00, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 13x in the Commercial Services industry in Europe. Total returns to shareholders of 23% over the past three years. Reported Earnings • Aug 28
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: kr0.23 (up from kr0.16 in 2Q 2021). Revenue: kr97.9m (up 14% from 2Q 2021). Net income: kr21.5m (up 56% from 2Q 2021). Profit margin: 22% (up from 16% in 2Q 2021). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 12%, compared to a 49% growth forecast for the Commercial Services industry in Norway. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Self Storage Group ASA (OB : SSG) entered into an agreement to acquire Property in Oresundsvej 12 in Esbjerg for DKK 6.6 million. Self Storage Group ASA (OB : SSG) entered into an agreement to acquire Property in Oresundsvej 12 in Esbjerg for DKK 6.6 million on June 29, 2022. Price Target Changed • Jun 04
Price target decreased to kr30.00 Down from kr32.50, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of kr30.90. Stock is up 15% over the past year. The company is forecast to post earnings per share of kr1.32 for next year compared to kr3.96 last year. Major Estimate Revision • May 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from kr404.2m to kr397.1m. EPS estimate rose from kr1.10 to kr1.32. Net income forecast to shrink 64% next year vs 33% growth forecast for Commercial Services industry in Norway . Consensus price target of kr31.50 unchanged from last update. Share price was steady at kr29.90 over the past week. 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. 5 non-independent directors. Chairman of the Board Steven Skaar was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 20
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: kr3.96 (up from kr1.34 in FY 2020). Revenue: kr346.1m (up 18% from FY 2020). Net income: kr348.6m (up 209% from FY 2020). Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) also surpassed analyst estimates by 55%. Over the next year, revenue is forecast to grow 17%, compared to a 83% growth forecast for the industry in Norway. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Dec 23
Self Storage Group ASA (OB:SSG) entered into an agreement to acquire property in Storebotn Næringspark in Askøy from Mittegetlokale Vestland As for NOK 12 million. Self Storage Group ASA (OB:SSG) entered into an agreement to acquire property in Storebotn Næringspark in Askøy from Mittegetlokale Vestland As for NOK 12 million on December 21, 2021. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS kr0.34 (vs kr0.24 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr92.8m (up 24% from 3Q 2020). Net income: kr29.7m (up 49% from 3Q 2020). Profit margin: 32% (up from 27% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Oct 04
Insider recently bought kr372k worth of stock On the 1st of October, Lars Moen bought around 14k shares on-market at roughly kr27.57 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr666k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 21
Second quarter 2021 earnings released: EPS kr0.16 (vs kr0.093 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr85.9m (up 20% from 2Q 2020). Net income: kr13.8m (up 75% from 2Q 2020). Profit margin: 16% (up from 11% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 14
First quarter 2021 earnings released: EPS kr0.52 (vs kr0.17 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr76.7m (up 8.3% from 1Q 2020). Net income: kr43.8m (up 202% from 1Q 2020). Profit margin: 57% (up from 21% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 16% per year. Recent Insider Transactions • May 13
Chief Financial Officer recently bought kr294k worth of stock On the 11th of May, Cecilie Margrethe Hekneby bought around 12k shares on-market at roughly kr24.50 per share. This was the largest purchase by an insider in the last 3 months. This was Cecilie Margrethe's only on-market trade for the last 12 months. Major Estimate Revision • Feb 23
Analysts lower EPS estimates to kr0.84 The 2021 consensus revenue estimate was lowered from kr355.5m to kr338.6m. Earning per share (EPS) estimate was also lowered from kr1.04 to kr0.84 for the same period. Net income is expected to shrink by 38% next year compared to 32% growth forecast for the Commercial Services industry in Norway . The consensus price target of kr30.00 was unchanged from the last update. Share price is down by 4.0% to kr24.00 over the past week. Reported Earnings • Feb 19
Full year 2020 earnings released: EPS kr1.34 (vs kr0.83 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr293.3m (up 10% from FY 2019). Net income: kr113.0m (up 83% from FY 2019). Profit margin: 39% (up from 23% in FY 2019). 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. Analyst Estimate Surprise Post Earnings • Feb 19
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) exceeded analyst estimates by 58%. Over the next year, revenue is forecast to grow 15%, compared to a 235% growth forecast for the Commercial Services industry in Norway. Is New 90 Day High Low • Dec 02
New 90-day high: kr25.50 The company is up 4.0% from its price of kr24.50 on 03 September 2020. The Norwegian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Commercial Services industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Reported Earnings • Nov 05
Third quarter 2020 earnings released: EPS kr0.24 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: kr75.0m (up 4.2% from 3Q 2019). Net income: kr20.0m (up 28% from 3Q 2019). Profit margin: 27% (up from 22% in 3Q 2019). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 15
New 90-day low: kr22.30 The company is down 8.0% from its price of kr24.30 on 17 July 2020. The Norwegian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Sep 23
New 90-day low: kr23.90 The company is down 4.0% from its price of kr25.00 on 25 June 2020. The Norwegian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Commercial Services 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 kr1.38 per share.