Recent Insider Transactions • Dec 17
Director recently bought kr1.4m worth of stock On the 13th of December, Jon Gudmundsson bought around 32k shares on-market at roughly kr44.45 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr3.0m more in shares than they bought in the last 12 months. Recent Insider Transactions • Dec 05
President & CEO recently sold kr4.9m worth of stock On the 30th of November, Peter Nilsson sold around 110k shares on-market at roughly kr44.50 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. Peter has been a net seller over the last 12 months, reducing personal holdings by kr4.6m. Reported Earnings • Oct 28
Third quarter 2023 earnings: Revenues miss analyst expectations Third quarter 2023 results: Revenue: kr795.0m (up 12% from 3Q 2022). Net loss: kr19.0m (down 186% from profit in 3Q 2022). Revenue missed analyst estimates by 3.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Forestry industry in Sweden are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jul 27
President & CEO recently bought kr280k worth of stock On the 25th of July, Peter Nilsson bought around 10k shares on-market at roughly kr28.00 per share. This transaction amounted to 10.0% 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 Peter's only on-market trade for the last 12 months. Reported Earnings • Jul 26
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr796.0m (down 21% from 2Q 2022). Net loss: kr40.0m (down 126% from profit in 2Q 2022). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, while revenues in the Forestry industry in Sweden are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Bergs Timber AB (publ) (OM:BRG B) acquired 100% stake in Hedlunda Holding Ab from Dalvi Ab and Firmum AB for approximately SEK 225 million. Bergs Timber AB (publ) (OM:BRG B) acquired 100% stake in Hedlunda Holding Ab from Dalvi Ab and Firmum AB for approximately SEK 225 million on June 29, 2023. The purchase price on a cash and debt-free basis and SEK 140 million will be paid immediately and remaining SEK 85 million will may paid to Dalvi Ab and Firmum AB based on the performance over the next two financial years. The purchase price is financed through a new loan of SEK 200 million within the framework of the existing loan agreement with Danske Bank and SEB. Jerry Johansson remains in his position as CEO of Hedlunda Holding Ab. Hedlunda Holding Ab will be reported in a new product area, Furniture & Components of Bergs. Erneholm Haskel AB acted as financial advisor and Advokatfirman Vinge KB acted as legal advisor to Advokatfirman Vinge KB.Bergs Timber AB (publ) (OM:BRG B) completed the acquisition of 100% stake in Hedlunda Holding Ab from Dalvi Ab and Firmum AB on June 29, 2023. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr30.45, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Forestry industry in Sweden. Total returns to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr57.02 per share. Reported Earnings • May 05
First quarter 2023 earnings released First quarter 2023 results: Revenue: kr718.0m (down 21% from 1Q 2022). Net loss: kr18.0m (down 129% from profit in 1Q 2022). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Forestry industry in Sweden. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 28
Upcoming dividend of kr2.00 per share at 5.5% yield Eligible shareholders must have bought the stock before 05 May 2023. Payment date: 11 May 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of Swedish dividend payers (5.0%). Higher than average of industry peers (3.1%). Reported Earnings • Apr 05
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: kr6.66 (down from kr12.03 in FY 2021). Revenue: kr3.27b (up 6.9% from FY 2021). Net income: kr231.0m (down 45% from FY 2021). Profit margin: 7.1% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to stay flat during the next 3 years compared to a 1.1% decline forecast for the Forestry industry in Sweden. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 09
Consensus EPS estimates fall by 46% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from kr2.95b to kr2.72b. EPS estimate also fell from kr6.38 per share to kr3.46 per share. Net income forecast to shrink 48% next year vs 34% decline forecast for Forestry industry in Sweden. Consensus price target of kr60.00 unchanged from last update. Share price rose 13% to kr36.45 over the past week. Reported Earnings • Feb 05
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: kr6.66 (down from kr12.03 in FY 2021). Revenue: kr3.27b (up 6.9% from FY 2021). Net income: kr231.0m (down 45% from FY 2021). Profit margin: 7.1% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is expected to fall by 2.1% p.a. on average during the next 2 years compared to a 1.2% decline forecast for the Forestry industry in Sweden. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target decreased to kr60.00 Down from kr69.00, the current price target is provided by 1 analyst. New target price is 94% above last closing price of kr31.00. Stock is down 47% over the past year. The company is forecast to post earnings per share of kr7.58 for next year compared to kr12.03 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. 6 non-independent directors. Director Anna Rasmuson was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr715.0m (down 16% from 3Q 2021). Net income: kr22.0m (down 86% from 3Q 2021). Profit margin: 3.1% (down from 19% in 3Q 2021). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, while revenues in the Forestry industry in Sweden are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Sep 01
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be kr53.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 76%. Revenue is forecast to decline by 0.1% in 2 years. Earnings is forecast to decline by 42% in the next 2 years. Reported Earnings • Jul 26
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: kr1.01b (up 23% from 2Q 2021). Net income: kr153.0m (up 30% from 2Q 2021). Profit margin: 15% (in line with 2Q 2021). Over the next year, revenue is expected to shrink by 2.8% compared to a 4.9% decline forecast for the industry in Sweden. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 15% share price decline to kr47.56, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Forestry industry in Sweden. Total returns to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr38.04 per share. Recent Insider Transactions • May 12
Chief Financial Officer recently bought kr103k worth of stock On the 6th of May, Anders Marklund bought around 20k shares on-market at roughly kr5.15 per share. This was the largest purchase by an insider in the last 3 months. Anders has been a buyer over the last 12 months, purchasing a net total of kr313k worth in shares. Price Target Changed • May 09
Price target increased to kr7.85 Up from kr6.90, the current price target is an average from 2 analysts. New target price is 57% above last closing price of kr5.00. Stock is down 24% over the past year. The company is forecast to post earnings per share of kr0.73 for next year compared to kr1.20 last year. Reported Earnings • May 06
First quarter 2022 earnings: Revenues exceed analyst expectations First quarter 2022 results: Revenue: kr912.0m (up 54% from 1Q 2021). Net income: kr63.0m (up 19% from 1Q 2021). Profit margin: 6.9% (down from 8.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 15%. Over the next year, revenue is forecast to decline by 5.9% while the industry in Sweden is not expected to grow. Upcoming Dividend • Apr 29
Upcoming dividend of kr0.30 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 12 May 2022. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 4.9%. Within top quartile of Swedish dividend payers (4.6%). Higher than average of industry peers (1.7%). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. No independent directors (6 non-independent directors). Director Gudmundur Jonsson was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Apr 03
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: kr1.20 (up from kr0.30 in FY 2020). Revenue: kr3.06b (up 42% from FY 2020). Net income: kr417.0m (up 297% from FY 2020). Profit margin: 14% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 3.0%. Over the next year, revenue is forecast to grow 1.4% compared to a 2.4% decline forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 17% share price gain to kr5.92, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Forestry industry in Sweden. Total returns to shareholders of 99% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr7.52 per share. Recent Insider Transactions • Feb 12
Chief Financial Officer recently bought kr104k worth of stock On the 9th of February, Anders Marklund bought around 20k shares on-market at roughly kr5.22 per share. This was the largest purchase by an insider in the last 3 months. Anders has been a buyer over the last 12 months, purchasing a net total of kr312k worth in shares. Reported Earnings • Feb 04
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: kr3.07b (up 43% from FY 2020). Net income: kr417.0m (up 297% from FY 2020). Profit margin: 14% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is expected to shrink by 6.2% compared to a 4.3% decline forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from kr2.96b to kr2.62b. EPS estimate unchanged from kr0.45 per share at last update. Forestry industry in Sweden expected to see average net income growth of 11% next year. Consensus price target of kr6.90 unchanged from last update. Share price rose 6.9% to kr5.28 over the past week. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment deteriorated over the past week After last week's 15% share price decline to kr5.06, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Forestry industry in Sweden. Total returns to shareholders of 77% over the past three years. Reported Earnings • Oct 29
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr847.0m (up 64% from 3Q 2020). Net income: kr158.0m (up 464% from 3Q 2020). Profit margin: 19% (up from 5.4% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Recent Insider Transactions • Aug 29
Chief Financial Officer recently bought kr105k worth of stock On the 27th of August, Anders Marklund bought around 20k shares on-market at roughly kr5.26 per share. This was the largest purchase by an insider in the last 3 months. Anders has been a buyer over the last 12 months, purchasing a net total of kr207k worth in shares. Price Target Changed • Jul 31
Price target increased to kr6.75 Up from kr5.55, the current price target is an average from 2 analysts. New target price is 23% above last closing price of kr5.48. Stock is up 103% over the past year. Reported Earnings • Jul 30
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr829.0m (up 52% from 2Q 2020). Net income: kr118.0m (up kr105.0m from 2Q 2020). Profit margin: 14% (up from 2.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Reported Earnings • May 06
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr596.0m (up 13% from 1Q 2020). Net income: kr53.0m (up 165% from 1Q 2020). Profit margin: 8.9% (up from 3.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 29
Upcoming dividend of kr0.20 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 12 May 2021. Trailing yield: 1.8%. Lower than top quartile of Swedish dividend payers (3.5%). Lower than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 15% share price gain to kr6.88, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Forestry industry in Europe. Total returns to shareholders of 175% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 17% share price gain to kr4.79, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Forestry industry in Europe. Total returns to shareholders of 95% over the past three years. Recent Insider Transactions • Mar 18
President recently bought kr205k worth of stock On the 16th of March, Peter Nilsson bought around 50k shares on-market at roughly kr4.10 per share. This was the largest purchase by an insider in the last 3 months. This was Peter's only on-market trade for the last 12 months. Is New 90 Day High Low • Mar 01
New 90-day high: kr3.95 The company is up 39% from its price of kr2.85 on 01 December 2020. The Swedish market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 3.0% over the same period. Reported Earnings • Feb 04
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: kr2.15b (down 33% from FY 2019). Net income: kr105.0m (up 133% from FY 2019). Profit margin: 4.9% (up from 1.4% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 04
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to decline by -5.6% while the Forestry industry in Sweden is not expected to grow. Is New 90 Day High Low • Feb 03
New 90-day high: kr3.58 The company is up 34% from its price of kr2.68 on 05 November 2020. The Swedish market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 20% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: kr3.09 The company is up 16% from its price of kr2.67 on 06 October 2020. The Swedish market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 13% over the same period. Analyst Estimate Surprise Post Earnings • Nov 05
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 19%. Over the next year, revenue is expected to shrink by 30% compared to a 1.6% decline forecast for the Forestry industry in Sweden. Is New 90 Day High Low • Oct 22
New 90-day low: kr2.61 The company is down 3.0% from its price of kr2.70 on 24 July 2020. The Swedish market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 9.0% over the same period.