Board Change • May 15
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. 3 non-independent directors. Independent Director Martin Roos was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 14
Nexam Chemical Holding AB (publ) Elects New Board Members Nexam Chemical Holding AB (publ) at its annual general meeting held on May 12, 2026, elected Roland Kasper, Niclas Ekström and Johan Lundgren as new Board members. Announcement • Apr 25
Nexam Chemical Advances Towards Commercialization with New Customer in Canada Nexam Chemical has achieved very strong results in industrial trials with a new customer in Canada in rigid food packaging based on 100 percent recycled PET (rPET). In benchmarking against alternative solutions, the company's technology delivered the best performance, and the project has now entered a late stage ahead of planned commercial implementation. The initial application corresponds to an estimated annual potential of approximately SEK 6 million. Rigid food packaging based on recycled materials is a rapidly growing segment but has historically been limited by material-related challenges such as brittleness and reduced mechanical performance. Over the past year, the customer has experienced these challenges in production, where brittleness in thermoformed food trays has led to cracking during end use. To mitigate this, the manufacturer has been forced to adjust its raw material mix by increasing the share of so-called "bottle grade" material and reducing production speed, negatively impacting both efficiency and cost. Through the use of Nexam Chemical's Reactive Recycling™ additive technology, the customer has been able to return to normal production speed and raw material mix, with a high share of in-house recycled material. The trials demonstrated a reduction in defective products by more than 90 percent. The collaboration began with laboratory trials in the autumn, followed by industrial trials during the winter. These confirmed the expected improvements in both production and product performance and were supported by an increase in intrinsic viscosity (IV), a key indicator of improved material strength and processability in rPET-based applications. A full-scale verification test in production, running for approximately one week, is currently ongoing. The material was delivered on an accelerated timeline to enable rapid industrial-scale validation. Based on the results achieved to date, the customer expects rapid implementation of the technology. The initial implementation targets one specific product segment for one customer. Following this, the manufacturer is expected to expand the technology into additional product segments, representing a significantly larger commercial opportunity as the solution is implemented more broadly. Major Estimate Revision • Apr 16
Consensus EPS estimates fall by 133% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from kr216.0m to kr210.0m. Losses expected to increase from kr0.03 per share to kr0.07. Chemicals industry in Sweden expected to see average net income growth of 50% next year. Consensus price target down from kr4.00 to kr3.50. Share price was steady at kr2.70 over the past week. Price Target Changed • Apr 15
Price target decreased by 18% to kr3.50 Down from kr4.25, the current price target is provided by 1 analyst. New target price is 29% above last closing price of kr2.72. Stock is down 15% over the past year. The company is forecast to post a net loss per share of kr0.07 next year compared to a net loss per share of kr0.20 last year. New Risk • Apr 15
New major risk - Revenue and earnings growth Earnings have declined by 14% 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 Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (kr266.9m market cap, or US$29.0m). Reported Earnings • Apr 08
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: kr0.20 loss per share (further deteriorated from kr0.11 loss in FY 2024). Revenue: kr192.2m (down 3.7% from FY 2024). Net loss: kr16.5m (loss widened 84% from FY 2024). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.0% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Nexam Chemical Holding AB Announces Changes in Board Nexam Chemical Holding AB announced that Lennart Holm and Magnus Wikström have declined to stand in re-election for becoming board members. New Risk • Feb 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (kr249.1m market cap, or US$28.1m). Breakeven Date Change • Jan 26
Forecast to breakeven in 2027 The analyst covering Nexam Chemical Holding expects the company to break even for the first time. New forecast suggests the company will make a profit of kr9.20m in 2027. Average annual earnings growth of 56% is required to achieve expected profit on schedule. Reported Earnings • Jan 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: kr0.20 loss per share (further deteriorated from kr0.11 loss in FY 2024). Revenue: kr193.4m (down 3.1% from FY 2024). Net loss: kr16.5m (loss widened 84% from FY 2024). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Dec 23
Nexam Chemical Holding AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 51.8 million. Nexam Chemical Holding AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 51.8 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 16,833,333
Price\Range: SEK 2.4
Security Name: Shares
Security Type: Common Stock
Securities Offered: 4,750,000
Price\Range: SEK 2.4
Transaction Features: Rights Offering New Risk • Nov 25
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 8.2% 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 (8.2% average weekly change). Market cap is less than US$100m (kr232.2m market cap, or US$24.2m). Announcement • Oct 30
Nexam Chemical Enables Lightweight Materials in Bio-Based Plastic - Together with Verdofoam Nexam Chemical expands its Lightweight product segment due to new advances in the production of expanded bioplastic. This development opens up a variety of applications, such as packaging and insulation materials, based on renewable raw materials. Through close collaboration between Nexam Chemical and Verdofoam, a breakthrough has been achieved that makes it possible to replace fossil-based polystyrene in the type of foam used, for example, in e-commerce packaging. Behind the breakthrough lies Nexam Chemicals' unique additive technology, which makes it possible to expand bio-based plastics such as PLA (polylactic acid) - something that has previously been a technical challenge. The result is a material with the same lightweight and shock-absorbing properties as traditional packaging foam, but made from renewable resources. Packaging foam is widely used to protect products during transport - for example, the small "beads" that fill empty spaces in boxes for e-commerce. The global volume of expanded polystyrene (EPS) used in packaging is estimated at around 5.8 million tons per year. Based on typical emission factors of around 3-5 tons CO2e per ton of material, this corresponds to up to approximately 18-30 million tons of CO2e annually. This equates to tens of billions of packages worldwide, based on global e-commerce and food packaging. Being able to now replace parts of this volume with bio-based alternatives presents a significant opportunity to reduce fossil dependency and lower climate impact. The development marks an important step in Nexam Chemicals' work to support the transition to more sustainable plastics materials. The company's additives are used globally to improve and extend the lifespan of both recycled and bio-based polymers. Reported Earnings • Oct 20
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: kr0.048 loss per share (further deteriorated from kr0.034 loss in 3Q 2024). Revenue: kr45.5m (up 3.2% from 3Q 2024). Net loss: kr3.89m (loss widened 42% from 3Q 2024). Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Breakeven Date Change • Oct 02
Forecast breakeven date pushed back to 2026 The analyst covering Nexam Chemical Holding previously expected the company to break even in 2025. New forecast suggests losses will reduce by 6.8% to 2025. The company is expected to make a profit of kr9.10m in 2026. Average annual earnings growth of 110% is required to achieve expected profit on schedule. Breakeven Date Change • Jul 14
Forecast breakeven date moved forward to 2025 The analyst covering Nexam Chemical Holding previously expected the company to break even in 2026. New forecast suggests the company will make a profit of kr5.50m in 2025. Earnings growth of 97% is required to achieve expected profit on schedule. Reported Earnings • Jul 13
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: kr0.041 loss per share (further deteriorated from kr0.017 loss in 2Q 2024). Revenue: kr54.3m (up 1.3% from 2Q 2024). Net loss: kr3.33m (loss widened 146% from 2Q 2024). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 200%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Breakeven Date Change • Jul 11 The analyst covering Nexam Chemical Holding previously expected the company to break even in 2026. New forecast suggests losses will reduce by 81% to 2025. The company is expected to make a profit of kr14.0m in 2026. Average annual earnings growth of 42% is required to achieve expected profit on schedule.
New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings have declined by 9.9% 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 Risk Earnings have declined by 9.9% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr3.9m). Market cap is less than US$100m (kr335.0m market cap, or US$35.2m). Recent Insider Transactions • May 02
Chief Financial Officer recently bought kr82k worth of stock On the 29th of April, Marcus Nyberg bought around 25k shares on-market at roughly kr3.30 per share. This transaction amounted to 54% 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 Marcus' only on-market trade for the last 12 months. Breakeven Date Change • Apr 25
Forecast breakeven date pushed back to 2026 The analyst covering Nexam Chemical Holding previously expected the company to break even in 2025. New forecast suggests losses will reduce by 80% to 2025. The company is expected to make a profit of kr13.0m in 2026. Average annual earnings growth of 51% is required to achieve expected profit on schedule. Reported Earnings • Apr 15
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: kr0.11 loss per share (improved from kr0.28 loss in FY 2023). Revenue: kr199.6m (up 5.0% from FY 2023). Net loss: kr9.01m (loss narrowed 61% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 50%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Apr 01
Independent Chairman recently bought kr51k worth of stock On the 28th of March, Cecilia Johansson bought around 16k shares on-market at roughly kr3.10 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Cecilia has been a buyer over the last 12 months, purchasing a net total of kr111k worth in shares. Announcement • Mar 19
Nexam Chemical in Collaboration with Leading Partners, Is Advancing the Future of High-Performance Composites Through the Tape-X Nexam Chemical is advancing the future of high-performance composites through the TAPE-X (Advanced Thermoformable Cross-linking Polymer Unidirectional Tapes - TAPE-Extreme) project, funded by Innovate UK. The project is dedicated to developing next-generation composite materials capable of replacing metals such as titanium in aerospace applications, enabling lighter, more fuel-efficient aircraft. At the core of the project is a newly developed solid unidirectional composite tape (UD tape) that aims to bring together the storage stability and easy processing of thermoplastic tapes with the thermomechanical properties of thermoset materials. Nexam Chemical contributed its unique experience in the formulation of high temperature materials in designing and synthesizing the matrix material which serves as basis for the concept. This innovation paves the way for cost-effective production of complex geometries, e.g. ducts and piping in aircraft engines, with greater precision and minimal waste. Key Advancements of TAPE-X Technology: Enhanced Processing Window and Storage Stability: Contrary to traditional thermoset materials, the stability and processing window of the new resin is very broad, avoiding the need of low temperature storage. Temperature Resistance - Designed for the high thermal demands of aerospace applications, the material is designed to withstand extreme conditions, offering a lightweight alternative to titanium and other alloys. Enhanced Design Flexibility - The combination of thermoplastic-like processing and thermoset-level performance enables the creation of complex structures that otherwise are difficult or costly to manufacture. Broad Industrial Potential - While initially focused on civil aerospace applications, the technology holds promise for other aerospace and industrial applications where extreme heat resistance and structural integrity are crucial. Reported Earnings • Jan 31
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: kr0.11 loss per share (improved from kr0.28 loss in FY 2023). Revenue: kr200.4m (up 5.4% from FY 2023). Net loss: kr9.01m (loss narrowed 61% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 50%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. New Risk • Jan 30
New major risk - Revenue and earnings growth Earnings have declined by 11% 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 Risk Earnings have declined by 11% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr343.1m market cap, or US$31.1m). Price Target Changed • Jan 22
Price target decreased by 11% to kr4.00 Down from kr4.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of kr3.97. Stock is up 28% over the past year. The company is forecast to post a net loss per share of kr0.08 next year compared to a net loss per share of kr0.28 last year. Announcement • Nov 01
Nexam Chemical Receives European Patent Grant for Recycled Polypropylene Technology Nexam Chemical announced that the European Patent Office (EPO) has confirmed a "Decision to Grant" for patent concerning recycled polypropylene (PP). This patent, already in force in Sweden, will now be extended to all countries in Europe where Nexam Chemical chooses to register the patent. Polypropylene is the most widely used plastic globally, found in various packaging and everyday products, such as pallets, bottles, jars, yoghurt containers, hot beverage cups and food packaging, due to its low cost and flexibility in production. PP represents close to 20% of all plastics produced globally. This patent grant reinforces Nexam Chemical's intellectual property portfolio within the recycling sector, covering close to 50% of all plastics produced globally, and underscores its commitment to innovation in sustainable plastic materials. Additionally, it is worth noting that no opposition was raised against the Nexam Chemical's patent for recycled polyethylene (r-PE), further validating the strength of Nexam Chemical's technological advancements in plastic recycling. Reported Earnings • Oct 18
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: kr0.034 loss per share (improved from kr0.047 loss in 3Q 2023). Revenue: kr44.1m (down 3.8% from 3Q 2023). Net loss: kr2.75m (loss narrowed 27% from 3Q 2023). Revenue missed analyst estimates by 12%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 27% per year whereas the company’s share price has fallen by 29% per year. Reported Earnings • Jul 14
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: kr0.017 loss per share (improved from kr0.15 loss in 2Q 2023). Revenue: kr53.9m (up 30% from 2Q 2023). Net loss: kr1.35m (loss narrowed 89% from 2Q 2023). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 50%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 40% 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. New Risk • Jul 12
New major risk - Revenue and earnings growth Earnings have declined by 7.7% 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 Risk Earnings have declined by 7.7% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr18m). Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (kr352.0m market cap, or US$33.4m). Major Estimate Revision • Jul 07
Consensus EPS estimates upgraded to kr0.02 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -kr0.03 to -kr0.02 per share. Revenue forecast steady at kr222.0m. Chemicals industry in Sweden expected to see average net income growth of 33% next year. Consensus price target of kr3.50 unchanged from last update. Share price rose 14% to kr3.77 over the past week. Buy Or Sell Opportunity • Jul 06
Now 21% undervalued Over the last 90 days, the stock has risen 19% to kr3.77. The fair value is estimated to be kr4.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 49%. Revenue is forecast to grow by 20% in a year. Earnings are forecast to grow by 99% in the next year. Recent Insider Transactions • May 09
Independent Director recently bought kr130k worth of stock On the 7th of May, Martin Roos bought around 44k shares on-market at roughly kr2.95 per share. This transaction amounted to 13% 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 kr1.2m more in shares than they have sold in the last 12 months. New Risk • May 03
New major risk - Revenue and earnings growth Earnings have declined by 7.7% 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 Risk Earnings have declined by 7.7% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr18m). Market cap is less than US$100m (kr242.7m market cap, or US$22.4m). Reported Earnings • Apr 18
First quarter 2024 earnings: EPS in line with expectations, revenues disappoint First quarter 2024 results: kr0.023 loss per share (improved from kr0.051 loss in 1Q 2023). Revenue: kr53.6m (up 2.5% from 1Q 2023). Net loss: kr1.87m (loss narrowed 54% from 1Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 39% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Mar 19
Independent Director recently bought kr64k worth of stock On the 15th of March, Martin Roos bought around 20k shares on-market at roughly kr3.20 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr153k. Insiders have collectively bought kr1.1m more in shares than they have sold in the last 12 months. Announcement • Mar 15
Jonna Opitz Has Declines Re-Election as the Board Member of Nexam Chemical Holding AB (Publ) Jonna Opitz has declined re-election as the Board member of Nexam Chemical Holding AB (publ). New Risk • Feb 06
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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr9.5m). Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (kr231.4m market cap, or US$21.8m). Recent Insider Transactions • Feb 05
Chief Executive Officer recently bought kr153k worth of stock On the 1st of February, Ronnie Tornqvist bought around 50k shares on-market at roughly kr3.05 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ronnie has been a buyer over the last 12 months, purchasing a net total of kr656k worth in shares. New Risk • Feb 02
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: -kr9.5m 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 (-kr9.5m). Market cap is less than US$100m (kr245.2m market cap, or US$23.7m). Breakeven Date Change • Feb 01
Forecast breakeven date moved forward to 2025 The analyst covering Nexam Chemical Holding previously expected the company to break even in 2026. New forecast suggests losses will reduce by 82% to 2024. The company is expected to make a profit of kr4.00m in 2025. Average annual earnings growth of 105% is required to achieve expected profit on schedule. New Risk • Jan 31
New major risk - Revenue and earnings growth Earnings have declined by 2.9% 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 Risk Earnings have declined by 2.9% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-kr33m). Market cap is less than US$100m (kr254.9m market cap, or US$24.5m). Recent Insider Transactions • Nov 20
Independent Director recently bought kr84k worth of stock On the 15th of November, Martin Roos bought around 27k shares on-market at roughly kr3.16 per share. This transaction amounted to 9.9% 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 kr817k more in shares than they have sold in the last 12 months. New Risk • Oct 26
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). Currently unprofitable and not forecast to become profitable over next 2 years (kr2.3m net loss in 2 years). Share price has been volatile over the past 3 months (8.9% average weekly change). Market cap is less than US$100m (kr250.0m market cap, or US$22.3m). Announcement • Oct 23
Nexam Chemical Holding AB (publ) to Report Q1, 2024 Results on Apr 18, 2024 Nexam Chemical Holding AB (publ) announced that they will report Q1, 2024 results on Apr 18, 2024 Reported Earnings • Oct 22
Third quarter 2023 earnings released: kr0.047 loss per share (vs kr0.029 loss in 3Q 2022) Third quarter 2023 results: kr0.047 loss per share (further deteriorated from kr0.029 loss in 3Q 2022). Revenue: kr46.0m (down 19% from 3Q 2022). Net loss: kr3.78m (loss widened 61% from 3Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings. Breakeven Date Change • Oct 19
No longer forecast to breakeven The analyst covering Nexam Chemical Holding no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of kr10.7m in 2025. New forecast suggests the company will make a loss of kr0 in 2025. Announcement • Oct 12
Nexam Chemical Together with the Norwegian Company Aion, Developed A Recycled Plastic Material with the Right Colour and Properties Nexam Chemical – who invents, develops, produces and sells additives to the plastics industry worldwide - has, together with the Norwegian company Aion, developed a recycled plastic material with the right colour and properties that is used in, for example, seats for Kaos children's chairs and can be used in more technical products. The prestigious publication TIME Magazine recently named the world's oceans as "The Most Important Place on Earth". More and more focus is being directed at the world's oceans as a central part of the fight against climate change, and the awareness of how sensitive they are to human influence is increasing more and more. Nexam is proud and happy to be able to contribute to solutions that contribute to improving the marine environment, for example by being able to use plastic waste from the oceans in new – and more valuable – applications. Nexam Chemical and Aion, who both work with circular polymer solutions, have jointly developed a plastic material from recycled raw materials, which thanks to the Recolour Plus colouring concept, meets the high demands of the furniture industry. Although the recycled material has colour variations from mixed plastic waste and is degraded by a hard life, Nexam's technology has enabled its use in advanced furniture components with high demands on finish and appearance. In Kaos range of children's seats, they are used in accessories such as seats, safety bars and tables and lead to reduced environmental impact without compromising either the function or appearance of the furniture. New Risk • Oct 05
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: kr23m Forecast net loss in 2 years: kr3.0m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. 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 (-kr37m). Currently unprofitable and not forecast to become profitable over next 2 years (kr3.0m net loss in 2 years). Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr267.0m market cap, or US$24.1m). Recent Insider Transactions • Sep 07
Independent Chairman recently bought kr64k worth of stock On the 5th of September, Cecilia Johansson bought around 20k shares on-market at roughly kr3.20 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr350k. Cecilia has been a buyer over the last 12 months, purchasing a net total of kr166k worth in shares. Recent Insider Transactions • Aug 11
Independent Chairman recently bought kr102k worth of stock On the 9th of August, Cecilia Johansson bought around 31k shares on-market at roughly kr3.30 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr350k. This was Cecilia's only on-market trade for the last 12 months. Recent Insider Transactions • Jul 20
Chief Executive Officer recently bought kr350k worth of stock On the 17th of July, Ronnie Tornqvist bought around 100k shares on-market at roughly kr3.50 per share. This transaction increased Ronnie's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ronnie has been a buyer over the last 12 months, purchasing a net total of kr456k worth in shares. Breakeven Date Change • Jul 18
Forecast breakeven date pushed back to 2025 The 2 analysts covering Nexam Chemical Holding previously expected the company to break even in 2024. New consensus forecast suggests losses will reduce by 53% per year to 2024. The company is expected to make a profit of kr10.7m in 2025. Average annual earnings growth of 97% is required to achieve expected profit on schedule. New Risk • Jul 16
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 9.4% 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 (-kr43m). Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (kr280.0m market cap, or US$27.3m). Reported Earnings • Jul 14
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: kr0.15 loss per share (further deteriorated from kr0.053 loss in 2Q 2022). Revenue: kr41.8m (down 25% from 2Q 2022). Net loss: kr12.0m (loss widened 181% from 2Q 2022). Revenue missed analyst estimates by 28%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 19% per year. Buying Opportunity • Jul 14
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be kr4.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 8.8% in a year. Earnings is forecast to grow by 82% in the next year. Major Estimate Revision • Jul 12
Consensus EPS estimates fall by 121% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from kr242.2m to kr237.2m. Losses expected to increase from kr0.041 per share to kr0.091. Chemicals industry in Sweden expected to see average net income decline 2.6% next year. Consensus price target of kr9.75 unchanged from last update. Share price was steady at kr3.95 over the past week. Recent Insider Transactions • Jun 04
Chief Executive Officer recently bought kr106k worth of stock On the 29th of May, Ronnie Tornqvist bought around 28k shares on-market at roughly kr3.80 per share. This transaction increased Ronnie'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. This was Ronnie's only on-market trade for the last 12 months. Board Change • May 17
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. 3 non-independent directors. Independent Director Jonna Opitz was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 10
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: kr0.16 loss per share (further deteriorated from kr0.069 loss in FY 2021). Revenue: kr221.8m (up 1.1% from FY 2021). Net loss: kr12.7m (loss widened 133% from FY 2021). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 5.8%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Feb 17
Nexam Chemical Receives Approval for the Use of Nexamite in Bottles and Food Packaging in Japan Nexam Chemical - is approved to use the company's product for upgrading recycled plastics, NEXAMITE, in bottles and food packaging in the Japanese market. It is the Japanese partner Kadotodku Corporation, which received the approval of the "Food Contact Material Safety Center". The applications for recycled PET or rPET in the Japanese market so far is mostly about bottles. In order to upgrade and restore the recycled PET-plastic, the industry has until now relied on an energy- and time-consuming process in a special, so-called SSP (Solid state Polycondensation). After this approval, a cost-effective and time-saving alternative is available. Breakeven Date Change • Jan 31
Forecast breakeven date moved forward to 2024 The 2 analysts covering Nexam Chemical Holding previously expected the company to break even in 2025. New consensus forecast suggests the company will make a profit of kr8.50m in 2024. Average annual earnings growth of 98% is required to achieve expected profit on schedule. Reported Earnings • Jan 26
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: kr0.16 loss per share (further deteriorated from kr0.068 loss in FY 2021). Revenue: kr223.0m (up 1.6% from FY 2021). Net loss: kr12.7m (loss widened 133% from FY 2021). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 5.8%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to kr15.00 Down from kr16.50, the current price target is provided by 1 analyst. New target price is 213% above last closing price of kr4.80. Stock is down 59% over the past year. The company is forecast to post a net loss per share of kr0.14 next year compared to a net loss per share of kr0.068 last year. Reported Earnings • Oct 22
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: kr0.029 loss per share (further deteriorated from kr0.027 loss in 3Q 2021). Revenue: kr56.7m (up 13% from 3Q 2021). Net loss: kr2.34m (loss widened 16% from 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Buying Opportunity • Aug 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be kr6.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 42%. Breakeven Date Change • Jul 28
Forecast breakeven date pushed back to 2023 The analyst covering Nexam Chemical Holding previously expected the company to break even in 2022. New forecast suggests the company will make a profit of kr9.87m in 2023. Average annual earnings growth of 109% is required to achieve expected profit on schedule. Buying Opportunity • Jul 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be kr6.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 42%. Reported Earnings • Jul 17
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: kr0.053 loss per share (down from kr0.017 loss in 2Q 2021). Revenue: kr55.4m (down 7.1% from 2Q 2021). Net loss: kr4.27m (loss widened 222% from 2Q 2021). Revenue missed analyst estimates by 13%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 32%, compared to a 502% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 12
Price target increased to kr18.00 Up from kr16.50, the current price target is provided by 1 analyst. New target price is 272% above last closing price of kr4.84. Stock is down 66% over the past year. The company is forecast to post earnings per share of kr0.046 next year compared to a net loss per share of kr0.068 last year.