Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr5.28, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 23x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 63% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to kr6.55, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 22x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 139% over the past three years. Upcoming Dividend • May 15
Upcoming dividend of kr0.10 per share Eligible shareholders must have bought the stock before 21 May 2026. Payment date: 27 May 2026. Trailing yield: 1.6%. Lower than top quartile of Swedish dividend payers (4.2%). Higher than average of industry peers (0.5%). Reported Earnings • Apr 22
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: kr0.30 (up from kr0.22 in FY 2024). Revenue: kr53.1m (up 33% from FY 2024). Net income: kr17.0m (up 35% from FY 2024). Profit margin: 32% (in line with FY 2024). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Apr 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 10% 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: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr381.3m market cap, or US$41.8m). Announcement • Apr 17
AVTECH Sweden AB (publ) to Report Q1, 2026 Results on Apr 24, 2026 AVTECH Sweden AB (publ) announced that they will report Q1, 2026 results on Apr 24, 2026 Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr8.09, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 25x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 115% over the past three years. Major Estimate Revision • Feb 13
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from kr66.2m to kr58.2m. EPS estimate fell from kr0.70 to kr0.40 per share. Net income forecast to grow 31% next year vs 45% growth forecast for Aerospace & Defense industry in Sweden. Consensus price target down from kr12.00 to kr10.00. Share price fell 6.1% to kr6.78 over the past week. Reported Earnings • Feb 08
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: kr0.30 (up from kr0.22 in FY 2024). Revenue: kr53.1m (up 33% from FY 2024). Net income: kr17.0m (up 35% from FY 2024). Profit margin: 32% (in line with FY 2024). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 29% per year. Declared Dividend • Feb 01
Dividend of kr0.10 announced Dividend of kr0.10 is the same as last year. Ex-date: 21st May 2026 Payment date: 27th May 2026 Dividend yield will be 1.4%, which is lower than the industry average of 1.6%. Sustainability & Growth The dividend has not increased over the past 2 years but payments have been stable during that time. EPS is expected to grow by 178% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 30
AVTECH Sweden AB (publ), Annual General Meeting, May 20, 2026 AVTECH Sweden AB (publ), Annual General Meeting, May 20, 2026. Announcement • Jan 29
Avtech Sweden AB (Publ) Proposes Dividend, Payable on May 27, 2026 The Board of Directors of AVTECH Sweden AB proposes a dividend of SEK 0.10 per share, corresponding to approximately MSEK 5.6, and will convene the Annual General Meeting to decide on the matter. The Annual General Meeting will be held on 20 May 2026. If the Annual General Meeting resolves on a dividend in accordance with the Board’s proposal, the first day of trading without the right to receive the dividend will be 21 May 2026. The proposed record date for the dividend is 22 May 2026. Provided that the Meeting approves the Board’s proposal, the dividend is expected to be distributed on 27 May 2026 by Euroclear Sweden AB. Announcement • Jan 15
AVTECH Sweden AB Announces Chief Commercial Officer Changes, Effective January 19, 2026 AVTECH Sweden AB has appointed Philip Nordfeldt as Chief Commercial Officer (CCO), effective January 19, 2026, succeeding Christian Sandén. Philip Nordfeldt has over 20 years of experience in both operational roles and commercial leadership across the aviation industry, SaaS, and B2B sales of data-driven systems. He has previously held senior commercial positions at SAS, Austrian Airlines, and the Lufthansa Group. Most recently, Philip served as a co-founder and Head of Sales and Marketing at Data Talks. He has a strong background in go-to-market strategy, partnerships, and scalable growth in international environments. As CCO, Philip will lead global Sales, Marketing, Customer Success, and Commercial Strategy, with a focus on expanding AVTECH’s customer base, accelerating ARR growth, and increasing customer adoption of AVTECH’s real-time services for flight efficiency, fuel savings, and turbulence avoidance. He will join the company’s executive management team. Christian Sandén held the role of Chief Commercial Officer since August 2025. Reported Earnings • Oct 26
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: kr14.5m (up 45% from 3Q 2024). Net income: kr5.20m (up 93% from 3Q 2024). Profit margin: 36% (up from 27% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in Sweden. Major Estimate Revision • Aug 29
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from kr50.0m to kr51.7m. EPS estimate increased from kr0.36 to kr0.40 per share. Net income forecast to grow 103% next year vs 36% growth forecast for Aerospace & Defense industry in Sweden. Consensus price target up from kr9.50 to kr13.00. Share price rose 10% to kr12.30 over the past week. Reported Earnings • Aug 24
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: kr13.4m (up 35% from 2Q 2024). Net income: kr4.10m (up 52% from 2Q 2024). Profit margin: 31% (up from 27% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in Sweden. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr10.15, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 39x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 260% over the past three years. Announcement • Jun 20
AVTECH Sweden AB (publ) Announces Executive Changes AVTECH Sweden AB (publ) announced the appointment of Christian Sandén as the new Chief Commercial Officer (CCO), effective August 18, 2025. Christian Sandén will succeed Lars Wernblom, who has held the role on an interim basis since February 2024. During his tenure as interim sales and marketing director, Lars Wernblom implemented significant changes in the sales organization, enhancing its structure, performance, and team delivery. Christian Sandén brings over 20 years of experience in sales, marketing, and commercial leadership across established and fast-growing SaaS companies. Most recently, he served as CCO at Braathens Regional Airways and held senior roles in sales and go-to-market strategy at Telia, Sekoia, and Matilda Foodtech. In his new position, Christian will lead AVTECH's teams across sales, marketing, customer success, and commercial strategy, and will be a member of the executive leadership team. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr8.00, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 39x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 267% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr10.20, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 41x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 391% over the past three years. Upcoming Dividend • May 08
Upcoming dividend of kr0.10 per share Eligible shareholders must have bought the stock before 15 May 2025. Payment date: 23 May 2025. Trailing yield: 1.1%. Lower than top quartile of Swedish dividend payers (4.0%). Higher than average of industry peers (0.5%). Reported Earnings • Apr 14
Full year 2024 earnings released: EPS: kr0.22 (vs kr0.16 in FY 2023) Full year 2024 results: EPS: kr0.22 (up from kr0.16 in FY 2023). Revenue: kr39.9m (up 26% from FY 2023). Net income: kr12.6m (up 39% from FY 2023). Profit margin: 31% (up from 28% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 60% per year whereas the company’s share price has increased by 57% per year. Buy Or Sell Opportunity • Apr 10
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 37% to kr8.56. The fair value is estimated to be kr7.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 69% in 2 years. Earnings are forecast to grow by 165% in the next 2 years. Announcement • Apr 04
AVTECH Sweden AB (publ) Proposes Dividend, Payable on 23 May 2025 AVTECH Sweden AB (publ) proposed that the Company shall pay a dividend to the shareholders in the amount of SEK 0.10 per share in the Company. The record date for a dividend of SEK 0.10 per share shall be 16 May 2025. If the Annual General Meeting resolves in accordance with the proposal, the dividend is expected to be distributed on 23 May 2025. The remaining funds at the disposal of the Annual General Meeting will be carried forward. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to kr8.98, the stock trades at a trailing P/E ratio of 40.3x. Average forward P/E is 45x in the Aerospace & Defense industry in Europe. Total returns to shareholders of 264% over the past three years. Buy Or Sell Opportunity • Mar 25
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 43% to kr8.08. The fair value is estimated to be kr6.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 69% in 2 years. Earnings are forecast to grow by 165% in the next 2 years. Recent Insider Transactions • Mar 19
Chief Executive Officer recently bought kr14m worth of stock On the 17th of March, David Rytter bought around 2m shares on-market at roughly kr6.90 per share. This transaction increased David's direct individual holding by 57x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Buy Or Sell Opportunity • Mar 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 88% to kr7.78. The fair value is estimated to be kr6.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 69% in 2 years. Earnings are forecast to grow by 165% in the next 2 years. Buy Or Sell Opportunity • Feb 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 95% to kr7.60. The fair value is estimated to be kr6.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 69% in 2 years. Earnings are forecast to grow by 165% in the next 2 years. Reported Earnings • Feb 07
Full year 2024 earnings released: EPS: kr0.22 (vs kr0.16 in FY 2023) Full year 2024 results: EPS: kr0.22 (up from kr0.16 in FY 2023). Revenue: kr40.8m (up 29% from FY 2023). Net income: kr12.6m (up 39% from FY 2023). Profit margin: 31% (up from 28% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jan 24
Dividend of kr0.10 announced Dividend of kr0.10 is the same as last year. Ex-date: 15th May 2025 Payment date: 23rd May 2025 Dividend yield will be 1.5%, which is lower than the industry average of 1.6%. Sustainability & Growth The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 56% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 23
AVTECH Sweden AB (publ), Annual General Meeting, May 14, 2025 AVTECH Sweden AB (publ), Annual General Meeting, May 14, 2025. Announcement • Jan 22
Avtech Sweden AB (Publ) Proposes Dividend, Payable on May 23, 2025 AVTECH Sweden AB (publ) proposed a dividend of SEK 0.10 per share, corresponding to approximately SEK 5.6 million, and will convene the Annual General Meeting for a decision. If the Annual General Meeting decides on a dividend in accordance with the Board's proposal, the first day of trading without the right to dividend will be May 15, 2025. The record date for the right to the dividend is proposed to be May 16, 2025. Provided that the AGM approves the Board's proposal, the dividend is expected to be paid on May 23, 2025, through Euroclear Sweden AB. Price Target Changed • Dec 20
Price target increased by 61% to kr9.50 Up from kr5.90, the current price target is provided by 1 analyst. New target price is 67% above last closing price of kr5.68. Stock is up 48% over the past year. The company posted earnings per share of kr0.16 last year. New Risk • Dec 20
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 6.9% 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 Risk Share price has been highly volatile over the past 3 months (6.9% average weekly change). Minor Risks Revenue is less than US$5m (kr38m revenue, or US$3.4m). Market cap is less than US$100m (kr223.1m market cap, or US$20.2m). Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to kr5.68, the stock trades at a trailing P/E ratio of 29.6x. Average forward P/E is 28x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 187% over the past three years. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr3.56, the stock trades at a trailing P/E ratio of 18.5x. Average forward P/E is 28x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 49% over the past three years. Reported Earnings • Oct 25
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr10.0m (up 18% from 3Q 2023). Net income: kr2.70m (down 13% from 3Q 2023). Profit margin: 27% (down from 37% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 25
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr10.1m (up 31% from 2Q 2023). Net income: kr2.70m (up 29% from 2Q 2023). Profit margin: 27% (in line with 2Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in Sweden. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr5.50, the stock trades at a trailing P/E ratio of 29.2x. Average forward P/E is 39x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 305% over the past three years. New Risk • May 20
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 1.6% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Revenue is less than US$5m (kr34m revenue, or US$3.2m). Market cap is less than US$100m (kr345.7m market cap, or US$32.3m). Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: kr0.053 (vs kr0.025 in 1Q 2023) First quarter 2024 results: EPS: kr0.053 (up from kr0.025 in 1Q 2023). Revenue: kr9.40m (up 42% from 1Q 2023). Net income: kr3.00m (up 114% from 1Q 2023). Profit margin: 32% (up from 21% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr5.84, the stock trades at a trailing P/E ratio of 36.6x. Average forward P/E is 32x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 329% over the past three years. Announcement • Mar 27
AVTECH Sweden AB Proposes Cash Dividend, Payable on May 23, 2024 The board of directors of AVTECH Sweden AB proposed a dividend of SEK 0.10 per share, corresponding to approximately SEK 5.6 million, and will shortly convene to an annual general meeting for resolution. The annual general meeting will be held on May 15, 2023. If the annual general meeting resolves on a dividend in accordance with the board of directors' proposal, the first day of trading excluding the right to dividend will be May 16, 2024. The record date for the right to receive dividend is proposed to be May 17, 2024. Provided that the annual general meeting approves the board of directors' proposal, the dividend is expected to be distributed on 23 May 2024 from Euroclear Sweden AB. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr4.35, the stock trades at a trailing P/E ratio of 27.3x. Average forward P/E is 36x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 197% over the past three years. Buy Or Sell Opportunity • Mar 11
Now 20% undervalued Over the last 90 days, the stock has risen 5.8% to kr4.00. The fair value is estimated to be kr5.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 46% in 2 years. Earnings are forecast to grow by 93% in the next 2 years. Reported Earnings • Feb 18
Full year 2023 earnings released: EPS: kr0.16 (vs kr0.11 in FY 2022) Full year 2023 results: EPS: kr0.16 (up from kr0.11 in FY 2022). Revenue: kr32.2m (up 29% from FY 2022). Net income: kr9.00m (up 48% from FY 2022). Profit margin: 28% (up from 24% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr3.80, the stock trades at a trailing P/E ratio of 28.6x. Average forward P/E is 25x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 245% over the past three years. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr3.55, the stock trades at a trailing P/E ratio of 26.7x. Average forward P/E is 28x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 313% over the past three years. Announcement • Aug 22
AVTECH Sweden AB (Publ) Appoints Ingvar Zöögling as Acting Chairman of the Board AVTECH Sweden AB (publ) appointed Ingvar Zöögling as acting Chairman of the Board. Ingvar is a former lawyer and ran a law practice in Stockholm for almost 35 years. Ingvar has been a member of AVTECH's board since 2008. Announcement • Aug 03
Avtech's Chairman of the Board Bo Redeborn Passes Away AVTECH Sweden AB (publ) announces with great sadness that much appreciated Chairman of the Board and friend Bo Redeborn has passed away suddenly and unexpectedly after a short period of illness. With his unique ability to listen and act, Bo has successfully led AVTECH's development during a very intense period. With his diverse experience and his large network of contacts, he has strongly contributed to AVTECH now having a very solid foundation for future growth and profitability. Bo will be greatly missed by AVTECH's board and management, and thoughts go first and foremost to his family. Regarding the changes that the incident entails in AVTECH's Board of Directors, the company will return after the Board has had the opportunity to meet. Reported Earnings • Jul 14
First half 2023 earnings released: EPS: kr0.062 (vs kr0.037 in 1H 2022) First half 2023 results: EPS: kr0.062 (up from kr0.037 in 1H 2022). Revenue: kr13.2m (up 13% from 1H 2022). Net income: kr3.50m (up 67% from 1H 2022). Profit margin: 27% (up from 18% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 13
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to kr3.43, the stock trades at a trailing P/E ratio of 28.5x. Average forward P/E is 36x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 192% over the past three years. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to kr3.24, the stock trades at a trailing P/E ratio of 26.9x. Average forward P/E is 33x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 182% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr2.62, the stock trades at a trailing P/E ratio of 21.8x. Average forward P/E is 34x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 138% over the past three years. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to kr3.85, the stock trades at a trailing P/E ratio of 32x. Average forward P/E is 36x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 258% over the past three years. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr3.50, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 30x in the Aerospace & Defense industry in Sweden. Total returns to shareholders of 188% over the past three years. Reported Earnings • Feb 19
Full year 2022 earnings released: EPS: kr0.11 (vs kr0.025 loss in FY 2021) Full year 2022 results: EPS: kr0.11 (up from kr0.025 loss in FY 2021). Revenue: kr25.8m (up 80% from FY 2021). Net income: kr6.10m (up kr7.50m from FY 2021). Profit margin: 24% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Sweden. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. 
