Breakeven Date Change • Jun 20
Forecast to breakeven in 2026 The analyst covering Candles Scandinavia expects the company to break even for the first time. New forecast suggests the company will make a profit of kr4.00m in 2026. Earnings growth of 100% is required to achieve expected profit on schedule. Reported Earnings • May 11
First quarter 2026 earnings released First quarter 2026 results: Revenue: kr84.0m (up 78% from 1Q 2025). Net loss: kr9.53m (loss widened kr8.07m from 1Q 2025). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 8.6% growth forecast for the Consumer Durables industry in Sweden. Breakeven Date Change • Apr 30
Forecast breakeven date pushed back to 2027 The analyst covering Candles Scandinavia previously expected the company to break even in 2026. New forecast suggests the company will make a profit of kr25.0m in 2027. Average annual earnings growth of 99% is required to achieve expected profit on schedule. New Risk • Apr 21
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -kr33m This is considered a minor 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr33m). Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (kr349.5m market cap, or US$38.2m). New Risk • Feb 12
New major risk - Revenue and earnings growth Earnings have declined by 45% 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 Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr398.1m market cap, or US$44.9m). New Risk • Feb 09
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 (kr283.0m market cap, or US$31.7m). Reported Earnings • Dec 08
Second quarter 2026 earnings: Revenues exceed analyst expectations Second quarter 2026 results: Revenue: kr149.5m (up 146% from 2Q 2025). Net loss: kr7.59m (down 199% from profit in 2Q 2025). Revenue exceeded analyst estimates by 40%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Consumer Durables industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Oct 01
Director recently bought kr498k worth of stock On the 29th of September, Petter Berggren bought around 12k shares on-market at roughly kr39.98 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr298k more in shares than they have sold in the last 12 months. Announcement • Sep 02
Candles Scandinavia AB (publ), Annual General Meeting, May 13, 2026 Candles Scandinavia AB (publ), Annual General Meeting, May 13, 2026. Reported Earnings • Aug 26
First quarter 2026 earnings released: kr0.40 loss per share (vs kr0.95 loss in 1Q 2025) First quarter 2026 results: kr0.40 loss per share (improved from kr0.95 loss in 1Q 2025). Revenue: kr33.7m (up 48% from 1Q 2025). Net loss: kr6.96m (loss narrowed 15% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Aug 04
Candles Scandinavia AB (publ), Annual General Meeting, Sep 02, 2025 Candles Scandinavia AB (publ), Annual General Meeting, Sep 02, 2025, at 09:00 W. Europe Standard Time. Location: at candles scandinavia`s premises at, cv-gatan 38b in orebro., orebro Sweden Reported Earnings • Jun 12
Full year 2025 earnings released: kr0.74 loss per share (vs kr1.34 loss in FY 2024) Full year 2025 results: kr0.74 loss per share (improved from kr1.34 loss in FY 2024). Revenue: kr192.0m (up 7.1% from FY 2024). Net loss: kr6.37m (loss narrowed 45% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 31% per year whereas the company’s share price has fallen by 27% per year. New Risk • May 19
New major risk - Revenue and earnings growth Earnings have declined by 57% 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 (-kr22m free cash flow). Earnings have declined by 57% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (kr145.3m market cap, or US$15.0m). New Risk • Mar 18
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 8.8% 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 Less than 1 year of cash runway based on free cash flow trend (-kr22m free cash flow). Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (kr151.0m market cap, or US$15.0m). Reported Earnings • Nov 27
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: kr66.1m (down 9.2% from 2Q 2024). Net income: kr7.66m (up 47% from 2Q 2024). Profit margin: 12% (up from 7.2% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Consumer Durables industry in Sweden. New Risk • Nov 26
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: -kr3.6m 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 (-kr3.6m free cash flow). Minor Risk Market cap is less than US$100m (kr184.3m market cap, or US$16.8m). Buy Or Sell Opportunity • Nov 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to kr19.90. The fair value is estimated to be kr25.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Nov 07
Price target decreased by 27% to kr28.00 Down from kr38.50, the current price target is provided by 1 analyst. New target price is 25% above last closing price of kr22.40. Stock is up 34% over the past year. The company is forecast to post earnings per share of kr0.03 next year compared to a net loss per share of kr1.34 last year. Recent Insider Transactions • Oct 28
Chief Financial Officer recently sold kr200k worth of stock On the 24th of October, Andreas Larsson sold around 12k shares on-market at roughly kr17.24 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Andreas' only on-market trade for the last 12 months. Buy Or Sell Opportunity • Oct 08
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to kr19.40. The fair value is estimated to be kr25.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 28
First quarter 2025 earnings released First quarter 2025 results: Revenue: kr24.6m (down 17% from 1Q 2024). Net loss: kr8.19m (loss widened 367% from 1Q 2024). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Consumer Durables industry in Sweden. Announcement • Aug 05
Candles Scandinavia AB (publ), Annual General Meeting, Sep 02, 2024 Candles Scandinavia AB (publ), Annual General Meeting, Sep 02, 2024, at 10:00 W. Europe Standard Time. Location: in candles scandinavias premises at cv-gatan 38b, orebro Sweden Reported Earnings • Jul 10
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: kr1.34 loss per share (down from kr0.11 profit in FY 2023). Revenue: kr179.2m (down 15% from FY 2023). Net loss: kr11.6m (down kr12.5m from profit in FY 2023). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Consumer Durables industry in Sweden. Buy Or Sell Opportunity • Jul 02
Now 21% overvalued Over the last 90 days, the stock has fallen 13% to kr25.60. The fair value is estimated to be kr21.09, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 27
Now 20% overvalued Over the last 90 days, the stock has fallen 13% to kr25.80. The fair value is estimated to be kr21.49, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jun 11
Full year 2024 earnings released: kr1.34 loss per share (vs kr0.11 profit in FY 2023) Full year 2024 results: kr1.34 loss per share (down from kr0.11 profit in FY 2023). Revenue: kr180.6m (down 14% from FY 2023). Net loss: kr11.6m (down kr12.5m from profit in FY 2023). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Consumer Durables industry in Sweden. Price Target Changed • Mar 22
Price target decreased by 23% to kr42.10 Down from kr54.35, the current price target is an average from 2 analysts. New target price is 48% above last closing price of kr28.50. Stock is down 35% over the past year. The company is forecast to post earnings per share of kr0.17 for next year compared to kr0.11 last year. Reported Earnings • Feb 27
Third quarter 2024 earnings released: kr0.33 loss per share (vs kr0.21 profit in 3Q 2023) Third quarter 2024 results: kr0.33 loss per share (down from kr0.21 profit in 3Q 2023). Revenue: kr41.1m (down 36% from 3Q 2023). Net loss: kr2.75m (down 257% from profit in 3Q 2023). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 1.2% decline forecast for the Consumer Durables industry in Sweden. Reported Earnings • Nov 28
Second quarter 2024 earnings released: EPS: kr0.61 (vs kr0.52 in 2Q 2023) Second quarter 2024 results: EPS: kr0.61 (up from kr0.52 in 2Q 2023). Revenue: kr73.1m (down 5.3% from 2Q 2023). Net income: kr5.21m (up 19% from 2Q 2023). Profit margin: 7.1% (up from 5.7% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 3.8% decline forecast for the Consumer Durables industry in Sweden. New Risk • Nov 27
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 11% 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 Less than 1 year of cash runway based on current free cash flow (-kr23m). Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (kr206.8m market cap, or US$19.8m). Recent Insider Transactions • Aug 31
Board Member recently bought kr59k worth of stock On the 29th of August, Lennart Larsson bought around 2k shares on-market at roughly kr29.25 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr509k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 28
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr30.0m (down 31% from 1Q 2023). Net loss: kr1.75m (down 288% from profit in 1Q 2023). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 1.6% decline forecast for the Consumer Durables industry in Sweden. Reported Earnings • Jun 17
Full year 2023 earnings: Revenues miss analyst expectations Full year 2023 results: Revenue: kr215.1m (up 36% from FY 2022). Net income: kr919.3k (up kr13.6m from FY 2022). Profit margin: 0.4% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 2.0%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Consumer Durables industry in Sweden. Major Estimate Revision • Jun 15
Consensus revenue estimates fall by 20% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from kr330.0m to kr263.0m. EPS estimate fell from kr2.94 to kr1.87 per share. Net income forecast to grow 13,943% next year vs 2.1% growth forecast for Consumer Durables industry in Sweden. Consensus price target down from kr106 to kr63.50. Share price fell 8.3% to kr33.10 over the past week. Recent Insider Transactions • Jan 11
Board Member recently bought kr169k worth of stock On the 9th of January, Petter Berggren bought around 3k shares on-market at roughly kr56.40 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr307k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 30
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr78.3m (up 72% from 2Q 2022). Net income: kr4.38m (up kr3.96m from 2Q 2022). Profit margin: 5.6% (up from 0.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Consumer Durables industry in Sweden. Price Target Changed • Nov 16
Price target increased to kr115 Up from kr96.00, the current price target is provided by 1 analyst. New target price is 79% above last closing price of kr64.40. Stock is down 12% over the past year. The company posted a net loss per share of kr1.62 last year. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Board Member Petter Berggren was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 20
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: kr1.62 loss per share. Revenue: kr158.3m (up 48% from FY 2021). Net loss: kr12.7m (down 274% from profit in FY 2021). Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 170%. Over the next year, revenue is forecast to grow 57%, compared to a 6.5% growth forecast for the industry in Sweden. Reported Earnings • Jun 19
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: kr1.62 loss per share. Revenue: kr164.4m (up 54% from FY 2021). Net loss: kr12.7m (down 274% from profit in FY 2021). Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 170%. Over the next year, revenue is forecast to grow 67%, compared to a 7.4% growth forecast for the industry in Sweden. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Petter Berggren was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 03
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: kr0.26 loss per share. Revenue: kr65.1m (flat on 3Q 2021). Net loss: kr2.03m (flat on 3Q 2021). Revenue was in line with analyst estimates. Board Change • Nov 10
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Petter Berggren was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
