Announcement • Jun 05
XXL ASA Approves Board Appointments XXL ASA announced that at its AGM held on June 4, 2025 approved the appointment of Jon Gausen as chair, Ole Henrik Skirstad as board member and Karina Wigum as board member. Announcement • May 28
Frasers Group Plc (LSE:FRAS) completed the acquisition of 46.32% stake in XXL ASA (OB:XXL) from Altor Fund IV AB a fund managed by Altor Equity Partners AB for approximately NOK 405 million. Frasers Group Plc (LSE:FRAS) proposed to acquire remaining 67.10% stake in XXL ASA (OB:XXL) from Altor Fund IV AB a fund managed by Altor Equity Partners AB and Others on March 18, 2025. As cash consideration NOK 10 per share will be paid by Frasers Group Plc.
ABG Sundal Collier ASA acted as financial advisor and Advokatfirmaet Thommessen AS acted as legal advisor for XXL ASA. Danske Bank A/S, Norway Branch is acting as financial advisor and receiving agent to Frasers Group Plc. White & Case LLP and Advokatfirmaet Schjødt As acted as legal advisor to Frasers Group Plc.
Frasers Group Plc (LSE:FRAS) completed the acquisition of 46.32% stake in XXL ASA (OB:XXL) from Altor Fund IV AB a fund managed by Altor Equity Partners AB for approximately NOK 405 million on May 27, 2025. Altor Fund IV has accepted the mandatory offer from Frasers Group Plc for XXL ASA and thereby sold 23,491,568 A shares and 17,051,037 B shares in XXL ASA, representing all its shares and votes in the Company, at a price of NOK 10 per share. Following these transactions, Altor will own no shares in XXL. The acceptance period ends on May 27, 2025 and is not subject to any extension. The Financial Supervisory Authority of Norway had approved an offer document for Frasers Group Plc's mandatory offer to acquire all of the issued and outstanding shares in the company for NOK 10 per share on 15 April 2025. Board Change • May 20
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. 2 experienced directors. No highly experienced directors. Employee Representative Director Tor Jacobsen is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Mar 19
Frasers Group Plc (LSE:FRAS) proposed to acquire remaining 67.10% stake in XXL ASA (OB:XXL). Frasers Group Plc (LSE:FRAS) proposed to acquire remaining 67.10% stake in XXL ASA (OB:XXL) on March 18, 2025. Announcement • Mar 15
XXL ASA has completed a Follow-on Equity Offering in the amount of NOK 600 million. XXL ASA has completed a Follow-on Equity Offering in the amount of NOK 600 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 60,000,000
Price\Range: NOK 10
Transaction Features: Regulation S; Rights Offering; Rule 144A Reported Earnings • Feb 12
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: kr77.68 loss per share. Revenue: kr7.18b (down 9.8% from FY 2023). Net loss: kr1.72b (loss widened 13% from FY 2023). Like-for-like sales growth: Down 11.7% vs FY 2023 Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 155%. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Europe. Major Estimate Revision • Jan 25
Consensus EPS estimates fall by 23%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from kr7.12b to kr7.75b. Forecast EPS reduced from -kr27.28 to -kr33.51 per share. Specialty Retail industry in Norway expected to see average net income growth of 36% next year. Consensus price target of kr9.00 unchanged from last update. Share price fell 20% to kr15.47 over the past week. Announcement • Dec 09
Frasers Group Plans Buyout Bid for Norwegian XXL British sporting goods and lifestyle brands retailer Frasers Group Plc (LSE:FRAS) on December 6, 2024 said it plans to launch an offer for the remaining shares of XXL ASA (OB:XXL), which it does not already own, valuing the Norwegian sports retailer at some NOK 246.4 million (USD 22.3 million/EUR 21.1 million). Frasers currently holds a 25.8% stake in XXL and is its second largest shareholder. It has offered NOK 10 per share for the remaining stock, representing a 25% premium over XXL’s closing price on December 5, 2024. Frasers' bid comes amid disagreements over XXL’s recent “alternative rights issue plan,” adopted after shareholders rejected an earlier proposal to raise NOK 600 million. Frasers said in its statement that the alternative plan as legally "questionable" and "detrimental" to minority shareholders. It proposed a solution to XXL’s financial struggles, involving up to NOK 500 million in consigned stock with deferred payment terms. In response, the Norwegian firm said its board would consider the proposal and its implications on the ongoing equity financing process. Major Estimate Revision • Dec 03
Consensus EPS estimates upgraded to kr27.28 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from kr7.34b to kr7.12b. 2024 losses expected to reduce from -kr30.73 to -kr27.28 per share. Specialty Retail industry in Norway expected to see average net income growth of 30% next year. Consensus price target of kr9.00 unchanged from last update. Share price rose 7.5% to kr8.36 over the past week. Major Estimate Revision • Nov 24
Consensus EPS estimates fall by 13%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from kr7.12b to kr7.34b. Forecast EPS reduced from -kr27.28 to -kr30.73 per share. Specialty Retail industry in Norway expected to see average net income growth of 32% next year. Consensus price target of kr9.00 unchanged from last update. Share price fell 15% to kr10.20 over the past week. Major Estimate Revision • Nov 13
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr7.98b to kr7.12b. Forecast losses increased from -kr36.26 to -kr36.76 per share. Specialty Retail industry in Norway expected to see average net income growth of 33% next year. Consensus price target down from kr70.00 to kr9.00. Share price fell 79% to kr10.48 over the past week. Announcement • Nov 08
XXL ASA has filed a Follow-on Equity Offering in the amount of NOK 600 million. XXL ASA has filed a Follow-on Equity Offering in the amount of NOK 600 million.
Security Name: Shares
Security Type: Common Stock
Transaction Features: Rights Offering Reported Earnings • Nov 07
Third quarter 2024 earnings: Revenues miss analyst expectations Third quarter 2024 results: Revenue: kr1.84b (down 7.3% from 3Q 2023). Net loss: kr262.0m (loss widened 87% from 3Q 2023). Revenue missed analyst estimates by 9.0%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Specialty Retail industry in Europe. New Risk • Nov 06
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 Norwegian stocks, typically moving 11% 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 (11% average weekly change). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr859.2m market cap, or US$77.6m). Major Estimate Revision • Oct 23
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -kr32.40 to -kr36.26 per share. Revenue forecast unchanged at kr7.97b. Specialty Retail industry in Norway expected to see average net income growth of 30% next year. Consensus price target of kr70.00 unchanged from last update. Share price fell 3.9% to kr53.51 over the past week. Major Estimate Revision • Oct 15
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -kr32.40 to -kr36.26 per share. Revenue forecast unchanged at kr7.97b. Specialty Retail industry in Norway expected to see average net income growth of 30% next year. Consensus price target of kr70.00 unchanged from last update. Share price fell 9.2% to kr55.38 over the past week. Major Estimate Revision • Jul 29
Consensus EPS estimates fall by 28% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -kr25.35 to -kr32.40 per share. Revenue forecast of kr7.98b unchanged since last update. Specialty Retail industry in Norway expected to see average net income growth of 31% next year. Consensus price target of kr77.50 unchanged from last update. Share price rose 4.3% to kr85.00 over the past week. Major Estimate Revision • Jul 24
Consensus EPS estimates upgraded to kr25.42 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -kr32.46 to -kr25.42 per share. Revenue forecast unchanged from kr7.50b at last update. Specialty Retail industry in Norway expected to see average net income growth of 31% next year. Consensus price target of kr77.50 unchanged from last update. Share price fell 3.1% to kr81.20 over the past week. Announcement • Jul 15
XXL ASA, Annual General Meeting, Jun 04, 2025 XXL ASA, Annual General Meeting, Jun 04, 2025. Reported Earnings • Jul 14
Second quarter 2024 earnings released: kr0.13 loss per share (vs kr0.63 loss in 2Q 2023) Second quarter 2024 results: kr0.13 loss per share. Revenue: kr1.78b (down 8.7% from 2Q 2023). Net loss: kr283.0m (loss widened 15% from 2Q 2023). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Europe. Announcement • Jul 01
XXL ASA Appoints Lars Syse Christiansen as Group CFO, Effective August 2024 XXL ASA has appointed Lars Syse Christiansen as the new Group CFO of XXL. Christiansen is an experienced CFO currently chairman of the board for Cardboard and Wanda, companies he has also co-founded, and he has a background as CFO of multiple European consumer focused businesses including CircleK, Otovo and Storebrand Bank. Christiansen is 46 years old and a Norwegian citizen. He holds a Master of Science in Management from the London School of Economics, as well a management program in Corporate Finance and Investment Analysis and a Master of Marketing Management from the Norwegian School of Management (BI i Oslo). Before co-founding Wanda, a circular logistics platform, he served as CFO of Otovo AS, a company he co-founded back in 2015. Otovo is a leading online solar sales platform, listed on the Oslo Stock Exchange, with operations in Norway, Sweden, France and Spain. From 2012-2014 he served as CFO in CircleK Europe, a global convenience retail chain. Lars Syse Christiansen has also been CFO in Storebrand Bank ASA as well as Head of Business Development in Posten Norge AS. In addition to these merits, Christiansen is also an experienced Board Member mostly within start-ups and venture companies. He is currently serving on the Board of Ruter AS, a provider of public transport in the Oslo region. Christiansen will join XXL in August 2024. Major Estimate Revision • Jun 18
Consensus EPS estimates upgraded to kr0.17 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -kr0.201 to -kr0.173 per share. Revenue forecast steady at kr7.61b. Specialty Retail industry in Norway expected to see average net income growth of 26% next year. Consensus price target of kr0.78 unchanged from last update. Share price fell 2.5% to kr0.74 over the past week. Announcement • Jun 05
Xxl Asa Approves Board and Committee Changes XXL ASA at the annual general meeting, approved the following agendas: Petra Axdorff is elected as board member for the period until the annual general meeting in 2026. Following the election, the board of directors willcomprise the following board members in accordance with the nomination committee's recommendation: Håkan Lundstedt (chair), Tom Christian Jovik (board member), Petra Axdorff (board member), Kari Ekelund Thørud (board member), Ronny Blomseth (board member), Tor Andrin Jacobsen (employee representative), Kjell-Arne Fikerud (employee representative), Kine Ludvigsen (employee representative) . In accordance with the proposal from the nomination committee, the general meeting adopted the following resolutions: Øistein Widding is elected as a chairperson of the nomination committee for the period until the annua/general meeting in 2026. Christian Berg is elected as a member of the nomination committee for the period until the annual general meeting in 2026. Thomas Aanmoen is elected as a member of the nomination committee for the period until the annual/general meeting in 2026.Following the election, the nomination committee will comprise the following members in accordance with the nomination committee's recommendation: Øistein Widding (chairperson), Christian Berg (member), ThomasAanmoen(member). Announcement • May 15
XXL ASA Announces Resignation of Kjersti Hobøl from the Board of Directors XXL ASA announced that Kjersti Hobøl resigns from her position of the board of directors. Major Estimate Revision • May 01
Consensus EPS estimates fall by 31% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr7.95b to kr7.61b. Losses expected to increase from kr0.15 per share to kr0.20. Specialty Retail industry in Norway expected to see average net income growth of 31% next year. Consensus price target of kr0.80 unchanged from last update. Share price fell 2.4% to kr0.77 over the past week. Reported Earnings • Apr 25
First quarter 2024 earnings released: kr0.13 loss per share (vs kr0.75 loss in 1Q 2023) First quarter 2024 results: kr0.13 loss per share (improved from kr0.75 loss in 1Q 2023). Revenue: kr1.56b (down 22% from 1Q 2023). Net loss: kr209.0m (loss narrowed 7.1% from 1Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Specialty Retail industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. Announcement • Mar 08
XXL ASA Announces Stein Eriksen, CFO to Step Down This Summer XXL ASA announced that CFO in XXL ASA, Stein Eriksen, has informed the Company that he has accepted a new position as CFO in another company. Consequently, he will leave XXL this summer, after the second quarter 2024 reporting in July, and XXL will immediately initiate a search for a new CFO. Major Estimate Revision • Feb 16
Consensus EPS estimates upgraded to kr0.15 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from kr8.90b to kr8.31b. 2024 losses expected to reduce from -kr0.302 to -kr0.146 per share. Specialty Retail industry in Norway expected to see average net income growth of 34% next year. Consensus price target of kr0.60 unchanged from last update. Share price rose 12% to kr0.79 over the past week. Price Target Changed • Feb 09
Price target decreased by 33% to kr0.60 Down from kr0.90, the current price target is an average from 2 analysts. New target price is 22% below last closing price of kr0.77. Stock is down 79% over the past year. The company is forecast to post a net loss per share of kr0.32 next year compared to a net loss per share of kr0.98 last year. Board Change • Dec 29
Less than half of directors are independent There are 11 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 11 new directors. 1 experienced director. No highly experienced directors. 1 independent director (7 non-independent directors). Independent Vice Chairman Kjersti Helen Hobol is the most experienced director on the board, commencing their role in 2019. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Sep 27
XXL ASA Announces Board Appointments XXL ASA has carried out a new election for employee representatives to the board of directors of XXL ASA. The following employee representatives have been elected by the employee election to XXL ASA's board of directors: Tor Andrin Jacobsen, Kjell Arne Fikerud and Helena Ebersten Henriksen. In addition, the following deputy board members have been elected as deputies for the employee elected board members: Linn Sletvik, Thomas Brandsdal, Iselin Winther, Patrik Vågen, My Uyen Nguyen, Niklas Hallberg, Marcus Rosell, Jackson Ferrera, Anders Jakobsen, Kine Ludvigsen, Cristina Moreno and Thomas Vågan Pettersen. Announcement • Sep 08
XXL ASA has completed a Follow-on Equity Offering in the amount of NOK 500.000426 million. XXL ASA has completed a Follow-on Equity Offering in the amount of NOK 500.000426 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,250,001,065
Price\Range: NOK 0.4
Discount Per Security: NOK 0.024
Transaction Features: Regulation S; Rights Offering; Rule 144A Reported Earnings • Jul 16
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: kr0.64 loss per share (down from kr0.095 profit in 2Q 2022). Revenue: kr1.95b (down 11% from 2Q 2022). Net loss: kr246.0m (down kr270.0m from profit in 2Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 39%. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Specialty Retail industry in Europe. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. Announcement • Jul 15
XXL ASA to Report Q4, 2023 Results on Feb 08, 2024 XXL ASA announced that they will report Q4, 2023 results on Feb 08, 2024 New Risk • Jun 30
New major risk - Revenue and earnings growth Earnings have declined by 24% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (kr715.7m market cap, or US$66.3m). Price Target Changed • Jun 29
Price target decreased by 9.4% to kr1.60 Down from kr1.77, the current price target is an average from 3 analysts. New target price is 15% below last closing price of kr1.89. Stock is down 68% over the past year. The company is forecast to post a net loss per share of kr1.06 next year compared to a net loss per share of kr1.55 last year. Reported Earnings • Apr 28
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: kr0.75 loss per share (further deteriorated from kr0.58 loss in 1Q 2022). Revenue: kr1.98b (flat on 1Q 2022). Net loss: kr225.0m (loss widened 54% from 1Q 2022). Revenue exceeded analyst estimates by 8.2%. Earnings per share (EPS) missed analyst estimates by 62%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Specialty Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 23
Consensus EPS estimates fall by 35% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -kr0.639 to -kr0.863 per share. Revenue forecast unchanged at kr8.80b. Specialty Retail industry in Norway expected to see average net income growth of 5.1% next year. Consensus price target down from kr2.80 to kr1.97. Share price fell 10% to kr2.12 over the past week. Major Estimate Revision • Mar 26
Consensus EPS estimates fall by 25% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -kr0.512 to -kr0.639 per share. Revenue forecast unchanged at kr8.87b. Specialty Retail industry in Norway expected to see average net income growth of 4.0% next year. Consensus price target of kr2.80 unchanged from last update. Share price fell 21% to kr2.34 over the past week. Reported Earnings • Feb 10
Full year 2022 earnings released: kr1.63 loss per share (vs kr0.74 profit in FY 2021) Full year 2022 results: kr1.63 loss per share (down from kr0.74 profit in FY 2021). Revenue: kr8.43b (down 16% from FY 2021). Net loss: kr412.0m (down 319% from profit in FY 2021). Like-for-like sales growth: Down 12.1% vs FY 2021 Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Specialty Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Major Estimate Revision • Feb 07
Consensus EPS estimates fall by 77% The consensus outlook for fiscal year 2022 has been updated. 2022 expected loss increased from -kr0.43 to -kr0.76 per share. Revenue forecast unchanged at kr8.88b. Specialty Retail industry in Norway expected to see average net income decline 4.8% next year. Consensus price target of kr3.00 unchanged from last update. Share price rose 3.0% to kr3.81 over the past week. Major Estimate Revision • Jan 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -kr0.34 to -kr0.43 per share. Revenue forecast unchanged at kr8.89b. Specialty Retail industry in Norway expected to see average net income decline 8.0% next year. Consensus price target of kr3.00 unchanged from last update. Share price fell 4.3% to kr3.66 over the past week. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Kjersti Helen Hobol was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Oct 27
Second quarter 2022 earnings released: EPS: kr0.12 (vs kr0.63 in 2Q 2021) Second quarter 2022 results: EPS: kr0.12 (down from kr0.63 in 2Q 2021). Revenue: kr2.19b (down 9.3% from 2Q 2021). Net income: kr29.0m (down 82% from 2Q 2021). Profit margin: 1.3% (down from 6.6% in 2Q 2021). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Specialty Retail industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Major Estimate Revision • Oct 27
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -kr0.46 to -kr0.57 per share. Revenue forecast unchanged at kr9.13b. Specialty Retail industry in Norway expected to see average net income decline 9.0% next year. Consensus price target down from kr6.33 to kr5.00. Share price rose 3.3% to kr4.49 over the past week. Reported Earnings • Jul 18
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: kr0.12 (down from kr0.63 in 2Q 2021). Revenue: kr2.19b (down 9.3% from 2Q 2021). Net income: kr29.0m (down 82% from 2Q 2021). Profit margin: 1.3% (down from 6.6% in 2Q 2021). Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 60%. Over the next year, revenue is forecast to grow 1.8%, compared to a 6.7% growth forecast for the industry in Norway. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jul 17
Independent Chairman of the Board recently bought kr5.8m worth of stock On the 15th of July, Hugo Maurstad bought around 1m shares on-market at roughly kr5.81 per share. This was the largest purchase by an insider in the last 3 months. This was Hugo's only on-market trade for the last 12 months. Major Estimate Revision • Jul 15
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from kr0.19 to kr0.82. Revenue forecast steady at kr9.50b. Net income forecast to grow 17% next year vs 6.3% growth forecast for Specialty Retail industry in Norway. Consensus price target down from kr8.60 to kr7.33. Share price was steady at kr6.15 over the past week. Major Estimate Revision • Jun 30
Consensus EPS estimates fall by 75% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from kr9.91b to kr9.52b. EPS estimate also fell from kr0.74 per share to kr0.19 per share. Net income forecast to grow 17% next year vs 7.8% growth forecast for Specialty Retail industry in Norway. Consensus price target down from kr10.27 to kr8.60. Share price fell 5.0% to kr5.91 over the past week. Price Target Changed • Jun 29
Price target decreased to kr8.60 Down from kr10.60, the current price target is an average from 3 analysts. New target price is 44% above last closing price of kr5.98. Stock is down 67% over the past year. The company is forecast to post earnings per share of kr0.74 for next year compared to kr0.74 last year. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment deteriorated over the past week After last week's 20% share price decline to kr7.40, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Specialty Retail industry in Europe. Total loss to shareholders of 63% over the past three years. Upcoming Dividend • May 27
Upcoming dividend of kr0.60 per share Eligible shareholders must have bought the stock before 03 June 2022. Payment date: 05 July 2022. Trailing yield: 5.8%. Lower than top quartile of Norwegian dividend payers (6.6%). Higher than average of industry peers (4.3%). Price Target Changed • May 09
Price target decreased to kr10.60 Down from kr15.00, the current price target is an average from 3 analysts. New target price is 6.1% above last closing price of kr10.00. Stock is down 56% over the past year. The company is forecast to post earnings per share of kr0.76 for next year compared to kr0.74 last year. Board Change • May 09
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director Tor Jacobsen was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 09
Inaugural dividend of kr0.99 per share Eligible shareholders must have bought the stock before 16 December 2021. Payment date: 23 December 2021. The company is not currently making a profit and is not cash flow positive. The company last paid an ordinary dividend in February 2018. The average dividend yield among industry peers is 2.5%.