Board Change • May 20
No independent directors There are 4 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: 4 new directors. No experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Founder, CEO, MD & Director Lennart Olofsson is the most experienced director on the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • May 21
First quarter 2025 earnings released: kr0.39 loss per share (vs kr0.41 loss in 1Q 2024) First quarter 2025 results: kr0.39 loss per share (improved from kr0.41 loss in 1Q 2024). Revenue: kr34.2m (down 42% from 1Q 2024). Net loss: kr18.4m (loss narrowed 3.4% from 1Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Sweden. New Risk • May 19
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (75% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (kr39.8m market cap, or US$4.06m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (kr9.7m net loss in 2 years). Announcement • Apr 17
Ecoclime Group AB (publ), Annual General Meeting, May 22, 2025 Ecoclime Group AB (publ), Annual General Meeting, May 22, 2025, at 13:00 W. Europe Standard Time. Location: at the companys premises, at norra obbolavagen 139, umea Sweden New Risk • Apr 16
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 Swedish stocks, typically moving 20% 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 (20% average weekly change). Market cap is less than US$10m (kr17.9m market cap, or US$1.84m). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (kr2.1m net loss in 3 years). Revenue is less than US$5m (kr11m revenue, or US$1.2m). Reported Earnings • Feb 17
Full year 2024 earnings released: kr1.19 loss per share (vs kr0.54 loss in FY 2023) Full year 2024 results: kr1.19 loss per share (further deteriorated from kr0.54 loss in FY 2023). Net loss: kr54.9m (loss widened 122% from FY 2023). Revenue is forecast to grow 76% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. New Risk • Feb 15
New major risk - Revenue and earnings growth Earnings have declined by 41% 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 Less than 1 year of cash runway based on free cash flow trend (-kr15m free cash flow). Earnings have declined by 41% per year over the past 5 years. Market cap is less than US$10m (kr55.1m market cap, or US$5.16m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr19m net loss in 2 years). Share price has been volatile over the past 3 months (10% average weekly change). Reported Earnings • Nov 18
Third quarter 2024 earnings released: kr0.47 loss per share (vs kr0.11 loss in 3Q 2023) Third quarter 2024 results: kr0.47 loss per share (further deteriorated from kr0.11 loss in 3Q 2023). Revenue: kr48.4m (down 23% from 3Q 2023). Net loss: kr21.6m (loss widened 334% from 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 52% per year, which means it is performing significantly worse than earnings. New Risk • Oct 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr97.1m (US$9.45m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr18m free cash flow). Market cap is less than US$10m (kr97.1m market cap, or US$9.45m). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (kr4.7m net loss in 2 years). New Risk • Sep 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr18m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-kr18m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (kr4.7m net loss in 2 years). Market cap is less than US$100m (kr115.6m market cap, or US$11.3m). Breakeven Date Change • Sep 19
No longer forecast to breakeven The analyst covering Ecoclime Group no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of kr18.2m in 2025. New forecast suggests the company will make a loss of kr900.0k in 2026. Reported Earnings • Aug 19
Second quarter 2024 earnings released: kr0.63 loss per share (vs kr0.41 loss in 2Q 2023) Second quarter 2024 results: kr0.63 loss per share (further deteriorated from kr0.41 loss in 2Q 2023). Revenue: kr62.5m (down 33% from 2Q 2023). Net loss: kr29.2m (loss widened 52% from 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has fallen by 51% per year, which means it is performing significantly worse than earnings. New Risk • Jun 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr104.0m (US$9.89m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Market cap is less than US$10m (kr104.0m market cap, or US$9.89m). Major Estimate Revision • May 21
Consensus revenue estimates fall by 22% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr372.7m to kr289.0m. Forecast loss of -kr0.34, down from profit of kr0.32 per share profit previously. Building industry in Sweden expected to see average net income growth of 19% next year. Consensus price target down from kr8.50 to kr7.00. Share price fell 26% to kr2.60 over the past week. Price Target Changed • May 21
Price target decreased by 16% to kr7.00 Down from kr8.30, the current price target is provided by 1 analyst. New target price is 169% above last closing price of kr2.60. Stock is down 44% over the past year. The company is forecast to post a net loss per share of kr0.34 next year compared to a net loss per share of kr0.53 last year. Breakeven Date Change • May 21
Forecast breakeven date pushed back to 2025 The 2 analysts covering Ecoclime Group previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of kr18.2m in 2025. Average annual earnings growth of 87% is required to achieve expected profit on schedule. Reported Earnings • Feb 18
Full year 2023 earnings released: kr0.54 loss per share (vs kr1.27 loss in FY 2022) Full year 2023 results: kr0.54 loss per share (improved from kr1.27 loss in FY 2022). Revenue: kr323.9m (up 27% from FY 2022). Net loss: kr24.7m (loss narrowed 58% from FY 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 60% 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. Price Target Changed • Dec 04
Price target decreased by 12% to kr8.30 Down from kr9.40, the current price target is provided by 1 analyst. New target price is 53% above last closing price of kr5.44. Stock is down 24% over the past year. The company is forecast to post a net loss per share of kr0.63 next year compared to a net loss per share of kr1.27 last year. Reported Earnings • Nov 13
Third quarter 2023 earnings released: kr0.11 loss per share (vs kr0.78 loss in 3Q 2022) Third quarter 2023 results: kr0.11 loss per share (improved from kr0.78 loss in 3Q 2022). Revenue: kr63.0m (up 21% from 3Q 2022). Net loss: kr4.98m (loss narrowed 86% from 3Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Building industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Nov 12
Consensus EPS estimates upgraded to kr0.63 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -kr0.735 to -kr0.625 per share. Revenue forecast steady at kr334.4m. Building industry in Sweden expected to see average net income growth of 14% next year. Consensus price target down from kr9.40 to kr9.15. Share price rose 17% to kr5.98 over the past week. Major Estimate Revision • Aug 24
Consensus EPS estimates fall by 90%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from kr311.9m to kr335.3m. Forecast EPS reduced from -kr0.355 to -kr0.675 per share. Building industry in Sweden expected to see average net income growth of 6.2% next year. Consensus price target broadly unchanged at kr9.40. Share price rose 6.9% to kr5.30 over the past week. New Risk • Aug 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (kr245.0m market cap, or US$22.3m). Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr93.5m (up 59% from 2Q 2022). Net loss: kr19.2m (loss widened 43% from 2Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Building industry in Sweden. Major Estimate Revision • Aug 09
Consensus EPS estimates fall by 22% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -kr0.29 to -kr0.355 per share. Revenue forecast unchanged at kr311.9m. Building industry in Sweden expected to see average net income growth of 6.6% next year. Consensus price target of kr9.25 unchanged from last update. Share price fell 3.8% to kr4.32 over the past week. Buying Opportunity • Jun 19
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be kr6.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has declined by 108%. Revenue is forecast to grow by 20% in a year. Earnings is forecast to grow by 89% in the next year. Price Target Changed • Jun 07
Price target decreased by 11% to kr9.25 Down from kr10.45, the current price target is an average from 2 analysts. New target price is 112% above last closing price of kr4.37. Stock is down 64% over the past year. The company is forecast to post a net loss per share of kr0.23 next year compared to a net loss per share of kr1.27 last year. Announcement • May 18
An unknown buyer acquired H-Gruppen TotalinstallatÖR Ab from Ecoclime Group AB (publ) (OM:ECC B). An unknown buyer acquired H-Gruppen TotalinstallatÖR Ab from Ecoclime Group AB (publ) (OM:ECC B) on May 17, 2023.An unknown buyer completed the acquisition of H-Gruppen TotalinstallatÖR Ab from Ecoclime Group AB (publ) (OM:ECC B) on May 17, 2023. Major Estimate Revision • May 09
Consensus EPS estimates fall by 44% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -kr0.16 to -kr0.23 per share. Revenue forecast unchanged at kr310.9m. Building industry in Sweden expected to see average net income growth of 8.6% next year. Consensus price target of kr9.75 unchanged from last update. Share price fell 10.0% to kr4.68 over the past week. Buying Opportunity • May 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be kr6.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has declined by 112%. Revenue is forecast to grow by 21% in a year. Earnings is forecast to grow by 87% in the next year. Buying Opportunity • Apr 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be kr6.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has declined by 112%. Reported Earnings • Feb 19
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: kr1.26 loss per share (further deteriorated from kr0.31 loss in FY 2021). Revenue: kr254.7m (up 60% from FY 2021). Net loss: kr58.2m (loss widened 377% from FY 2021). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 9.3%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Building industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 82% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from kr256.4m to kr247.7m. Losses expected to increase from kr0.73 per share to kr1.33. Building industry in Sweden expected to see average net income growth of 13% next year. Consensus price target down from kr14.40 to kr12.20. Share price rose 6.7% to kr7.15 over the past week. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Ylwa Karlgren was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Ylwa Karlgren was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Oct 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be kr11.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 44% in a year. Earnings is forecast to grow by 62% in the next year. Buying Opportunity • Sep 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be kr11.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 44% in a year. Earnings is forecast to grow by 62% in the next year. Price Target Changed • Aug 23
Price target decreased to kr14.40 Down from kr16.35, the current price target is an average from 2 analysts. New target price is 31% above last closing price of kr10.98. Stock is down 32% over the past year. The company is forecast to post a net loss per share of kr0.71 next year compared to a net loss per share of kr0.31 last year. Buying Opportunity • Aug 18
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 9.5%. The fair value is estimated to be kr14.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Jul 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be kr15.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Jun 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be kr13.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Jun 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be kr13.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 06
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr58.4m (up 71% from 1Q 2021). Net loss: kr7.95m (loss widened 91% from 1Q 2021). Over the next year, revenue is forecast to grow 61%, compared to a 17% growth forecast for the industry in Sweden. Price Target Changed • Apr 27
Price target decreased to kr15.25 Down from kr17.10, the current price target is an average from 2 analysts. New target price is 13% above last closing price of kr13.44. Stock is down 31% over the past year. The company is forecast to post earnings per share of kr0.31 next year compared to a net loss per share of kr0.31 last year. Reported Earnings • Feb 20
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: kr0.27 loss per share (down from kr0.15 profit in FY 2020). Revenue: kr157.2m (up 1.5% from FY 2020). Net loss: kr12.2m (down 366% from profit in FY 2020). Revenue exceeded analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 91%, compared to a 14% growth forecast for the industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 130 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 19
Price target decreased to kr14.50 Down from kr17.10, the current price target is provided by 1 analyst. New target price is 16% above last closing price of kr12.52. Stock is down 17% over the past year. The company posted earnings per share of kr0.15 last year. Reported Earnings • Nov 13
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: kr29.8m (down 5.2% from 3Q 2020). Net loss: kr8.53m (down kr9.26m from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 21
Second quarter 2021 earnings released The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: kr42.0m (down 2.1% from 2Q 2020). Net loss: kr867.0k (down 125% from profit in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 27
Price target increased to kr16.20 Up from kr8.50, the current price target is provided by 1 analyst. New target price is 7.8% below last closing price of kr17.58. Stock is up 156% over the past year. Recent Insider Transactions • Jun 13
Director recently bought kr60k worth of stock On the 10th of June, Ylwa Karlgren bought around 4k shares on-market at roughly kr15.70 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr679k. Insiders have collectively bought kr739k more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 12
Director recently bought kr679k worth of stock On the 7th of May, Svante Ostholm bought around 40k shares on-market at roughly kr16.97 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Is New 90 Day High Low • Mar 02
New 90-day high: kr15.75 The company is up 39% from its price of kr11.30 on 02 December 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 8.0% over the same period. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS kr0.19 (vs kr0.08 loss in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr155.5m (up 77% from FY 2019). Net income: kr6.40m (up kr8.69m from FY 2019). Profit margin: 4.1% (up from net loss in FY 2019). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 10
New 90-day high: kr14.50 The company is up 36% from its price of kr10.70 on 11 November 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: kr12.65 The company is up 15% from its price of kr11.00 on 30 September 2020. The Swedish market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 4.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS kr0.024 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: kr31.4m (up 62% from 3Q 2019). Net income: kr728.0k (up kr1.39m from 3Q 2019). Profit margin: 2.3% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 66% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Oct 01
Ecoclime Group AB (publ) announced that it has received SEK 40 million in funding Ecoclime Group AB (publ) (OM:ECC B) announced that it has issued common shares for the gross proceeds of SEK 40 million on September 30, 2020.