Recent Insider Transactions • Dec 12
Chairman recently sold kr1.3m worth of stock On the 7th of December, Erik Hemberg sold around 400k shares on-market at roughly kr3.25 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 Erik's only on-market trade for the last 12 months. Announcement • Nov 18
Erik Hemberg Fastighets AB made an offer to acquire remaining 27.7% stake in Götenehus Group AB (publ) (OM:GHUS B) for SEK 110 million. Erik Hemberg Fastighets AB made an offer to acquire remaining 27.7% stake in Götenehus Group AB (publ) (OM:GHUS B) for SEK 110 million on November 16, 2023. The offer per share is SEK 3.25 for the remaining shares in Götenehus Group AB. The offer values Götenehus at a total of approximately SEK 398 million. The acceptance period for the Offer is expected to begin around November 17, 2023, and end around December 15, 2023. EHF does not set any conditions for the completion of the Offer. The Bid Committee has hired Born Advokater as legal advisors in connection with the Offer. Erik Sjöman of Advokatfirman Vinge KB acted legal advisor to Erik Hemberg Fastighets AB. Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to kr3.26, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 13x in the Consumer Durables industry in Sweden. Total loss to shareholders of 17% over the past three years. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: kr100 (vs kr0.23 in 3Q 2022) Third quarter 2023 results: EPS: kr100. Revenue: kr231.1m (down 28% from 3Q 2022). Net income: kr12.3m (down 42% from 3Q 2022). Profit margin: 5.3% (down from 6.5% in 3Q 2022). New Risk • Sep 15
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Earnings have declined by 15% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (32% increase in shares outstanding). Market cap is less than US$100m (kr294.3m market cap, or US$26.4m). Reported Earnings • Sep 01
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr319.6m (down 35% from 2Q 2022). Net income: kr15.2m (up 35% from 2Q 2022). Profit margin: 4.8% (up from 2.3% in 2Q 2022). Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr2.85, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 14x in the Consumer Durables industry in Sweden. Total loss to shareholders of 4.9% over the past three years. Recent Insider Transactions • Jun 12
Insider recently bought kr102k worth of stock On the 8th of June, Martin Klaesson bought around 40k shares on-market at roughly kr2.55 per share. This transaction amounted to 80% 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 kr1.6m more in shares than they have sold in the last 12 months. Board Change • Jun 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Deputy Director Joakim Johansson was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 08
Insider recently bought kr60k worth of stock On the 4th of April, Martin Klaesson bought around 25k shares on-market at roughly kr2.40 per share. This transaction increased Martin Klaesson's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.5m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to kr2.46, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 8x in the Consumer Durables industry in Sweden. Total loss to shareholders of 15% over the past three years. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: kr0.35 (vs kr0.29 in FY 2021) Full year 2022 results: EPS: kr0.35 (up from kr0.29 in FY 2021). Revenue: kr1.36b (down 5.7% from FY 2021). Net income: kr43.3m (up 59% from FY 2021). Profit margin: 3.2% (up from 1.9% in FY 2021). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jan 08
President & CEO recently bought kr799k worth of stock On the 4th of January, Andreas Gustafsson bought around 214k shares on-market at roughly kr3.73 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Andreas has been a buyer over the last 12 months, purchasing a net total of kr1.4m worth in shares. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 20% share price gain to kr3.89, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 11x in the Consumer Durables industry in Sweden. Total returns to shareholders of 11% over the past three years. Recent Insider Transactions • Dec 26
President & CEO recently bought kr381k worth of stock On the 21st of December, Andreas Gustafsson bought around 118k shares on-market at roughly kr3.22 per share. This transaction amounted to 95% 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 Andreas' only on-market trade for the last 12 months. 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 Fabian Dahl was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 24% share price gain to kr3.17, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 9x in the Consumer Durables industry in Sweden. Total loss to shareholders of 2.1% over the past three years. Reported Earnings • Oct 31
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr247.4m (down 21% from 3Q 2021). Net income: kr12.3m (up kr12.1m from 3Q 2021). Profit margin: 5.0% (up from 0.1% in 3Q 2021). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorated over the past week After last week's 22% share price decline to kr2.33, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 9x in the Consumer Durables industry in Sweden. Total loss to shareholders of 33% over the past three years. Reported Earnings • Aug 28
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr311.9m (down 10% from 2Q 2021). Net loss: kr8.90m (down 235% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Marcus Westdahl 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. Upcoming Dividend • Apr 21
Upcoming dividend of kr0.15 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 04 May 2022. Payout ratio is a comfortable 51% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Swedish dividend payers (4.7%). Lower than average of industry peers (5.6%). Recent Insider Transactions • Apr 05
Insider recently sold kr101k worth of stock On the 1st of April, Nicklas Svensson sold around 20k shares on-market at roughly kr5.03 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr1.2m more than they sold in the last 12 months. Recent Insider Transactions • Mar 22
Director recently bought kr735k worth of stock On the 16th of March, Erik Hemberg bought around 135k shares on-market at roughly kr5.45 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.3m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 17% share price gain to kr5.50, the stock trades at a trailing P/E ratio of 18.7x. Average trailing P/E is 12x in the Consumer Durables industry in Sweden. Total returns to shareholders of 46% over the past three years. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr0.29 (up from kr0.24 in FY 2020). Revenue: kr1.44b (up 34% from FY 2020). Net income: kr27.2m (up 20% from FY 2020). Profit margin: 1.9% (down from 2.1% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Nov 01
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: kr313.9m (up 6.8% from 3Q 2020). Net income: kr200.0k (down 98% from 3Q 2020). Profit margin: 0.1% (down from 4.4% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Aug 30
Second quarter 2021 earnings released The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: kr347.4m (up 44% from 2Q 2020). Net income: kr6.60m (down 28% from 2Q 2020). Profit margin: 1.9% (down from 3.8% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jun 02
Chief Architect recently bought kr538k worth of stock On the 31st of May, Johan Danielsson bought around 100k shares on-market at roughly kr5.38 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 03
Director recently bought kr435k worth of stock On the 1st of March, Jan Johansson bought around 100k shares on-market at roughly kr4.35 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.2m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS kr0.24 (vs kr0.38 in FY 2019) The company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: kr1.08b (up 31% from FY 2019). Net income: kr22.6m (down 35% from FY 2019). Profit margin: 2.1% (down from 4.2% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 22
New 90-day high: kr4.43 The company is up 8.0% from its price of kr4.11 on 24 November 2020. The Swedish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Durables industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 31
New 90-day high: kr4.19 The company is up 5.0% from its price of kr3.99 on 02 October 2020. The Swedish market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Durables industry, which is up 2.0% over the same period. Recent Insider Transactions • Dec 16
Chief Financial Officer recently bought kr73k worth of stock On the 9th of December, Robert Elovson bought around 18k shares on-market at roughly kr4.20 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr322k. This was Robert's only on-market trade for the last 12 months. Is New 90 Day High Low • Nov 17
New 90-day high: kr4.16 The company is up 12% from its price of kr3.70 on 19 August 2020. The Swedish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 9.0% over the same period. Recent Insider Transactions • Nov 13
Director recently bought kr322k worth of stock On the 10th of November, Erik Hemberg bought around 80k shares on-market at roughly kr4.03 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr679k more in shares than they have sold in the last 12 months. Is New 90 Day High Low • Oct 02
New 90-day high: kr3.99 The company is up 25% from its price of kr3.19 on 03 July 2020. The Swedish market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Durables industry, which is up 29% over the same period.