Announcement • Nov 08
Asetek Announces the Release of the Latest ASUS ROG RYUJIN III 360 ARGB EXTREME EMMA [Gen8] V2 AIO Liquid Cooler Asetek announced the release of the latest ASUS ROG RYUJIN III 360 ARGB EXTREME EMMA [Gen8] V2 AIO Liquid Cooler. This new series features Asetek's Emma [Gen8] V2 cooling technology, providing significant performance upgrades, improved ease of installation, and support for all modern and upcoming CPUs, including the new Intel Core Ultra CPUs. Performance Upgrades: Asetek, as the sole liquid cooling supplier with access to initial working silicon, collaborated closely with Intel to optimize the cold plate design. Rigorous testing was conducted on Intel's new Intel Core Ultra CPUs, ensuring these coolers deliver significant performance gains, achieving an impressive 2°C/100W improvement over the current Emma [Gen8] V1 models. Offset Mounting & Simplified Installation, The Emma [Gen8] V2 series introduces a new offset feature, allowing users to better center the cold plate over Intel Core Ultra CPU hotspots. The retention system, integrated into the pump assembly guarantees consistent and reliable contact pressure, crucial for maintaining optimal cooling performance. Announcement • Oct 02
Asetek A/S Announces Executive Changes Asetek announced the appointment of Maja Sand-Grimnitz as vice president (VP) Brand and Digital, and Henrik Lindskou-Mouritsen as VP Global Sales. They bring extensive experience from commercialization of gaming hardware and international sales to drive deployment of Asetek’s acclaimed sim racing products and build on the leading position within Liquid Cooling. Mrs. Sand-Grimnitz is an experienced marketing leader focusing on growing brands and businesses through strategy, process and organizational development and implementation. She has over 15 years of experience in leading and executing brand and go-to-market strategies for global companies. She will lead the commercial development of the fast-growing SimSports business and manage Asetek’s brand and product marketing across the SimSports and Liquid cooling segments. Maja Sand-Grimnitz is currently a member of the Asetek Board of Directors. She stepped down from the Board to become a member of the Company’s management team on October 1, 2024. The Board position will not be replaced at this time. A decision to propose a new board member, will be considered and communicated in due course prior to the 2025 Annual General Meeting. Mr. Lindskou-Mouritsen will assume the role of VP Global Sales on November 1, 2024. He is specialized in international sales, business development and negotiations. Having lived in the Middle East for more than 15 years, he is experienced in managing and developing cross-cultural teams with great success. His legal background combined with strong commercial skills have been instrumental when doing business with some of the leading technology companies globally. Announcement • Jul 02
Asetek A/S Updates Earnings Guidance for the Year 2024 Asetek A/S updated earnings guidance for the year 2024. For the year, the company group revenue is expected in the range of $52million - $55 million, Group revenue expectation implies a decrease of 28% to 32% compared to 2023. The previous revenue development expectation was in the range of -5% to 5%. Announcement • Jun 13
Asetek Suspends Earnings Guidance for 2024 Asetek suspended earnings guidance for 2024. Based on these new forecasts, the expected increase in demand in the second half of 2024 of the company’s liquid cooling products may not materialize. This will result in a significant decline in Group revenue and profitability for 2024 compared to the revenue and profitability guidance issued on March 8, 2024. Given the development in the liquid cooling business segment, the company has therefore decided to suspend the Group revenue and profitability guidance for 2024. Announcement • May 03
Asetek A/S Maintains Earnings Outlook for 2024 Asetek A/S maintained earnings outlook for 2024. For the period,the company revenue in 2024 is expected to be in the range of -5% to 5% compared with 2023, comprised of expected revenue development in the Liquid Cooling segment in the range of -10% to 0%, and SimSports segment revenue growth in the range of 40% to 60% compared with 2023. Announcement • May 01
Asetek A/S Approves Board and Committee Changes Asetek A/S at its AGM held on April 30, 2024 approved election of Anja Monrad to its board of directors, Ib Sønderby as chairman of Nomination Committee and Claus Berner Møller as member of nomination committee, Ms. Anja Monrad as chairman of the Audit Committee, and Mr. René Svendsen-Tune as chairman of the Remuneration Committee. Composition of nomination committee: Ib Sønderby, Claus Berner Møller and René Svendsen-Tune. Composition of nomination committee: Ib Sønderby, Claus Berner Møller and René Svendsen-Tune. Announcement • Mar 26
Asetek Announces Last Day of Listing and Trading on Oslo Børs on March 26, 2024 As announced on 20 December 2023, the shares of Asetek A/S (‘Asetek’) will be delisted from Oslo Børs from and including 27 March 2024. The last day of listing and trading of Asetek's shares on Oslo Børs is 26 March 2024. Asetek's shares have been dual listed on Oslo Børs and Nasdaq Copenhagen since the listing on Nasdaq Copenhagen on 17 May 2023 and will continue to be listed on Nasdaq Copenhagen following the delisting from Oslo Børs. Announcement • Mar 08
Asetek Provides Earnings Guidance for 2024 Asetek provided earnings guidance for 2024. For the period, the company's revenue growth is expected to be in the range of -5% to 5% compared with 2023. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr6.80, the stock trades at a trailing P/E ratio of 12.1x. Average trailing P/E is 28x in the Tech industry in Europe. Total loss to shareholders of 87% over the past three years. Reported Earnings • Nov 05
Third quarter 2023 earnings released: EPS: US$0.03 (vs US$0.05 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.03 (up from US$0.05 loss in 3Q 2022). Revenue: US$20.5m (up 96% from 3Q 2022). Net income: US$3.09m (up US$4.27m from 3Q 2022). Profit margin: 15% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 19 percentage points per year, which is a significant difference in performance. Announcement • Nov 04
Asetek A/S Provides Group Earnings Guidance for the Year 2023 Asetek A/S provided group earnings guidance for the year 2023. The company maintains its group revenue outlook for 2023, expecting revenue to increase 40% to 45% from 2022 and the operating income expectation narrowed to between $8 million and $9 million in 2023. Announcement • Oct 18
Lian Li Industrial Co., Ltd Introduces Premium CPU Coolers Powered by Asetek's Most Advanced Liquid Cooling Technology to Date Asetek announced that new OEM Partner LIAN LI makes available its Galahad II LCD CPU Coolers, leveraging the superior thermal and acoustic performance and reliability associated with Asetek's most advanced technology to date. The Galahad II LCD AIOs will enable enthusiasts to boost CPU overclocking capability for extreme performance and gamers to enjoy rock-solid stability for immersive gaming. Asetek and LIAN LI collaborated to create the Galahad II LCD CPU coolers, which are powered by Asetek's Gen8 technology, and are available in black or white in 280mm or 360mm radiator sizes for a variety of form factors and cooling requirements. The coolers include a 2.88" LCD screen with 480x480 resolution to display various system information, such as CPU/GPU temperature and load, pump RPM, and coolant temperature. The updated L-Connect 3 software offers users a host of features to allow them to customize the LCD display. In addition to upload custom videos, the software has built in functions to allow users to record gameplay videos and images for display on the pump cap, a feature for AIOs in this premium category. Trim and upload the video portion user want using the included video editor. The L-Connect 3 software also comes with a variety of included presets and filters that users can apply to any imported images and GIFs. Supports custom videos (MP4) up to 2GB in size and up to 3mins in length. Designed from the ground up and optimized for Intel 13th and 12th Gen processors as well as AMD Ryzen(TM) 7000 and 5000 Series processors, Asetek's latest liquid cooling technology includes a plethora of innovations that deliver up to 2degC/100W improvement over its industry leading Gen7 liquid cooling technology. By focusing on how the individual components that constitute an all-in-one liquid cooler interact with each other and how collectively they affect performance, Asetek's most advanced Technology to date includes: A new performance-engineered pump featuring a 3-phase motor for higher flow and quieter operation; Larger diameter rubber tubes, larger HEX tubes and tanks, as well as wider and smoother flow paths in the pump to reduce impedance; A newly designed square cold plate optimized for the latest Intel and AMD processors; Optimized HEX designs that increase overall surface area and, at the same time, reduce air flow impedance; Under-the-hood system enhancements resulting in even quieter operation versus previous generations. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: US$0.04 (vs US$0.026 in 2Q 2022) Second quarter 2023 results: EPS: US$0.04 (up from US$0.026 in 2Q 2022). Revenue: US$24.5m (up 45% from 2Q 2022). Net income: US$3.15m (up 367% from 2Q 2022). Profit margin: 13% (up from 4.0% in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 21 percentage points per year, which is a significant difference in performance. Announcement • Aug 03
Asetek Provides Earnings Guidance for the Full Year 2023 Asetek provides earnings guidance for the full year 2023. The company expects to report an increase in Group revenue for 2023 in the range of 40% to 45% compared with 2022, and a projected operating income of $7 to $9 million. The updated expectations primarily reflect increased OEM sales to end- users, high product release activity in 2023 and sales forecasts for the second half of the year. The previous full year revenue and operating income expectations communicated on June 7, were for revenue growth for 2023 in the range of 25% to 35% compared with 2022, and a projected operating income between $5 and $7 million. Announcement • Jun 30
Asetek A/S Simsports Announces Invicta Quick Release Adapter Kit Asetek A/S announced its Asetek SimSports Invicta Quick Release Adapter Kit, enabling sim racers to easily mount wheels that they already own to 27Nm Invicta, 18Nm Forte®?, or 12Nm La Prima(TM) Direct Drive Wheelbases from Asetek SimSports. With the Invicta Quick Release Adapter Kit, sim racers can now get their choice in steering wheels along with a robust and easy to use wheel connection, as well as the immersive experience of optimal force feedback from any of Asetek SimSports wheelbases. Successfully tested with a variety of 3rd party wheels, the Invicta Quick Release adapter fits all wheels with a 6mm x 70mm and 6mm x 50.8mm bolt pattern. The adapter also features integrated power and data allowing for hassle-free connectivity between the wheel and wheelbase. Sold as a kit with three shaft lengths and a mounting flange included, the adapter features high quality billet aluminum parts machined at company own factory in Denmark to ultra-high tolerances, ultra-fine tolerances to ensure a perfect fit, as well as integrated electronics. Features of the kit include: 80mm, 150mm and 200mm shaft lengths (total Quick Release lengths); Mounting flange supporting 70mm & 50.8mm bolt patterns; Integrated PCBA featuring optional power and USB support; Designed and manufactured in Denmark with CNC machines. Starting in late June 2023, sim racers can place their orders by going to the official Asetek SimSports Webshop; Asetek SimSports Invicta Quick Release Adapter kit is available to order at E126,04 excluding VAT. In addition to sim racing wheels, wheelbases, pedal sets, pedal upgrade kits, footrests and pedal plates, Asetek SimSports will also offer shifters, rigs, and other end-user customization options. Recent Insider Transactions • Jun 14
Chief Operating Officer recently bought kr1.1m worth of stock On the 9th of June, John Hamill bought around 156k shares on-market at roughly kr6.81 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. John has been a buyer over the last 12 months, purchasing a net total of kr1.6m worth in shares. Announcement • Jun 08
Asetek Revises Earnings Guidance for the Full Year 2023 Asetek revised earnings guidance for the full year 2023. For the year, the company's revenue and operating income expectations due to increased demand for liquid cooling products for gamers and enthusiasts. The company expects to report an increase in Group revenue for 2023 in the range of 25% to 35% compared with 2022, and a projected operating income of about $5 to $7 million. The updated expectations reflect: increased sales after a period of channel inventory adjustments; high product release activity to date in 2023; firm orders as well as feedback received during and after the recent COMPUTEX Taipei trade show. The previous revenue and operating income expectations were for revenue growth for 2023 in the range of 5% to 15% compared with 2022, and a projected operating income between $2 and $4 million. Announcement • May 30
Asetek's and TEAMGROUP Introduces Its T-FORCE SIREN GA360 CPU Cooler Asetek, announced that new OEM Partner TEAMGROUP is introducing its T-FORCE SIREN GA360 CPU Cooler featuring Asetek's 7th-Generation of liquid cooling technology. The new AIO will enable enthusiasts to boost CPU overclocking capability for extreme performance and gamers to enjoy rock-solid stability for immersive gaming. Asetek and TEAMGROUP worked together to create the T-FORCE SIREN GA360 AIO, TEAMGROUP's highest-performing CPU cooler to date. The AIO features a crystal-clear infinity mirror design with multi-layer RGB lighting for stunning effects. Reported Earnings • May 23
First quarter 2023 earnings released: EPS: US$0.02 (vs US$0.08 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.02 (up from US$0.08 loss in 1Q 2022). Revenue: US$14.8m (up 6.3% from 1Q 2022). Net income: US$582.0k (up US$2.57m from 1Q 2022). Profit margin: 3.9% (up from net loss in 1Q 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 57% per year whereas the company’s share price has fallen by 54% per year. Announcement • May 22
Asetek A/S Provides Earnings Guidance for the Full Year 2023 Asetek A/S provided earnings guidance for the full year 2023. For the year, revenue growth expected in the range of 5% to 15% compared with 2022, with operating income projected between $2 million to $4 million. Recent Insider Transactions • May 11
Insider recently bought kr602k worth of stock On the 8th of May, Rene Svendsen-Tune bought around 155k shares on-market at roughly kr3.87 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.9m more in shares than they have sold in the last 12 months. Announcement • May 10
Asetek A/S Approves Board Changes Asetek A/S announced that at its AGM held on May 9, 2023, the shareholders elected René Svendsen-Tune as board of director. The following were elected to the nomination committee and the committee is hereinafter composed of the following: Ib Sønderby; Claus Berner Møller; René Svendsen-Tune. Following the general meeting, the Board of Directors constituted itself with Mr. René Svendsen-Tune as chairman. Mr. Ib Sønderby is chairman of the Nomination Committee. Mrs. Maria Hjorth is chairman of the Audit Committee, and Mr. René Svendsen-Tune is chairman of the Remuneration Committee. Announcement • May 09
Asetek A/S has completed a Follow-on Equity Offering in the amount of NOK 213.500001 million. Asetek A/S has completed a Follow-on Equity Offering in the amount of NOK 213.500001 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 71,166,667
Price\Range: NOK 3
Transaction Features: Regulation S; Rights Offering; Rule 144A Recent Insider Transactions • Apr 08
Chief Operating Officer recently bought kr487k worth of stock On the 4th of April, John Hamill bought around 61k shares on-market at roughly kr8.01 per share. This transaction amounted to 36% 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 John's only on-market trade for the last 12 months. Reported Earnings • Mar 09
Full year 2022 earnings released: US$0.17 loss per share (vs US$0.052 profit in FY 2021) Full year 2022 results: US$0.17 loss per share (down from US$0.052 profit in FY 2021). Revenue: US$50.7m (down 37% from FY 2021). Net loss: US$4.33m (down 424% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Announcement • Feb 20
Jørgen Smidt Not to Stand for Re-Election as Director of Asetek A/S Asetek A/S announced that the nomination committee has been notified by Jørgen Smidt that he is not available for re-election as Director at the Annual General Meeting to be held on 28 April 2023. Reported Earnings • Nov 05
Third quarter 2022 earnings released: US$0.05 loss per share (vs US$0.12 loss in 3Q 2021) Third quarter 2022 results: US$0.05 loss per share (improved from US$0.12 loss in 3Q 2021). Revenue: US$10.4m (down 23% from 3Q 2021). Net loss: US$1.18m (loss narrowed 61% from 3Q 2021). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Board Change • Jul 31
High number of new directors Director Maja Sand-Grimnitz was the last director to join the board, commencing their role in 2022. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Vice Chairman of the Board Erik Damsgaard was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Vice Chairman of the Board Erik Damsgaard was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 01
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: US$0.08 loss per share (down from US$0.12 profit in 1Q 2021). Revenue: US$13.9m (down 45% from 1Q 2021). Net loss: US$1.99m (down 164% from profit in 1Q 2021). Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) exceeded analyst estimates by 60%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 08
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: US$0.052 (down from US$0.36 in FY 2020). Revenue: US$79.8m (up 9.7% from FY 2020). Net income: US$1.34m (down 86% from FY 2020). Profit margin: 1.7% (down from 13% in FY 2020). Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 08
Founder & CEO recently bought kr250k worth of stock On the 4th of March, Andre Eriksen bought around 8k shares on-market at roughly kr30.34 per share. This was the largest purchase by an insider in the last 3 months. Andre has been a buyer over the last 12 months, purchasing a net total of kr522k worth in shares. Reported Earnings • Mar 05
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: US$0.05 (down from US$0.36 in FY 2020). Revenue: US$79.8m (up 9.7% from FY 2020). Net income: US$1.34m (down 86% from FY 2020). Profit margin: 1.7% (down from 13% in FY 2020). Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment deteriorated over the past week After last week's 17% share price decline to kr26.15, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 17x in the Tech industry in Europe. Total loss to shareholders of 33% over the past three years. Reported Earnings • Oct 29
Third quarter 2021 earnings released: US$0.12 loss per share (vs US$0.096 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: US$13.5m (down 37% from 3Q 2020). Net loss: US$2.99m (down 223% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 20% share price gain to kr41.45, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 22x in the Tech industry in Europe. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to kr59.70, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 24x in the Tech industry in Europe. Total loss to shareholders of 15% over the past three years. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 26% share price decline to US$76.40, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 23x in the Tech industry in Europe. Total loss to shareholders of 4.5% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS US$0.05 (vs US$0.051 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: US$23.2m (up 64% from 2Q 2020). Net income: US$1.35m (up 3.0% from 2Q 2020). Profit margin: 5.8% (down from 9.3% in 2Q 2020). The decrease in margin was driven by higher expenses. 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 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 15% share price gain to US$103, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 23x in the Tech industry in Europe. Total returns to shareholders of 13% over the past three years. Reported Earnings • Apr 25
First quarter 2021 earnings released: EPS US$0.12 (vs US$0.027 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$25.0m (up 174% from 1Q 2020). Net income: US$3.13m (up US$3.83m from 1Q 2020). Profit margin: 13% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 15% per year. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 25% share price gain to US$105, the stock trades at a trailing P/E ratio of 34.3x. Average trailing P/E is 27x in the Tech industry in Europe. Total returns to shareholders of 24% over the past three years. Recent Insider Transactions • Mar 20
Founder & CEO recently bought kr275k worth of stock On the 19th of March, André Eriksen bought around 3k shares on-market at roughly kr86.68 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, André has been a net seller over the last 12 months, reducing personal holdings by kr16m. Is New 90 Day High Low • Mar 11
New 90-day low: kr89.50 The company is down 15% from its price of kr105 on 11 December 2020. The Norwegian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$92.70, the stock is trading at a trailing P/E ratio of 30.3x, down from the previous P/E ratio of 35.8x. This compares to an average P/E of 29x in the Tech industry in Europe. Total return to shareholders over the past three years is a loss of 5.7%. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS US$0.36 (vs US$0.025 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$72.8m (up 34% from FY 2019). Net income: US$9.20m (up US$9.82m from FY 2019). Profit margin: 13% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. 