Recent Insider Transactions • May 12
Chief Executive Officer recently bought kr74k worth of stock On the 8th of May, Sandrine Garnier bought around 12k shares on-market at roughly kr6.46 per share. This transaction amounted to 5.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Sandrine's only on-market trade for the last 12 months. Reported Earnings • Apr 21
Full year 2025 earnings released: kr0.92 loss per share (vs kr0.46 profit in FY 2024) Full year 2025 results: kr0.92 loss per share (down from kr0.46 profit in FY 2024). Revenue: kr146.6m (down 6.6% from FY 2024). Net loss: kr33.7m (down 301% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. New Risk • Apr 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 41% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr279.1m market cap, or US$29.6m). Price Target Changed • Feb 17
Price target decreased by 17% to kr19.00 Down from kr23.00, the current price target is provided by 1 analyst. New target price is 184% above last closing price of kr6.70. Stock is down 46% over the past year. The company posted a net loss per share of kr0.92 last year. Reported Earnings • Feb 15
Full year 2025 earnings released: kr0.15 loss per share (vs kr0.46 profit in FY 2024) Full year 2025 results: kr0.15 loss per share (down from kr0.46 profit in FY 2024). Revenue: kr150.4m (down 4.2% from FY 2024). Net loss: kr33.7m (down 301% from profit in FY 2024). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 1.1% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Jan 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 46% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr360.9m market cap, or US$39.3m). New Risk • Nov 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 46% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr374.4m market cap, or US$39.2m). Announcement • Nov 08
Polygiene Group AB, Annual General Meeting, May 07, 2026 Polygiene Group AB, Annual General Meeting, May 07, 2026. Location: malmo Sweden Reported Earnings • Oct 24
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: kr37.3m (down 8.5% from 3Q 2024). Net loss: kr593.0k (down 134% from profit in 3Q 2024). Revenue is forecast to grow 20% 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 fallen by 45% 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. Upcoming Dividend • Sep 23
Upcoming dividend of kr0.13 per share Eligible shareholders must have bought the stock before 30 September 2025. Payment date: 06 October 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Swedish dividend payers (4.0%). Lower than average of industry peers (4.5%). Recent Insider Transactions • Aug 08
Chief Executive Officer recently bought kr146k worth of stock On the 5th of August, Ulrika Bjork bought around 15k shares on-market at roughly kr9.76 per share. This transaction amounted to 4.4% 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 kr198k. Ulrika has been a buyer over the last 12 months, purchasing a net total of kr283k worth in shares. Recent Insider Transactions • Jul 30
Independent Chairman of the Board recently bought kr198k worth of stock On the 25th of July, Jonas Wollin bought around 20k shares on-market at roughly kr9.90 per share. This transaction amounted to 2.3% 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 Jonas' only on-market trade for the last 12 months. Reported Earnings • Jul 25
Second quarter 2025 earnings released: kr0.11 loss per share (vs kr0.038 loss in 2Q 2024) Second quarter 2025 results: kr0.11 loss per share (further deteriorated from kr0.038 loss in 2Q 2024). Revenue: kr32.4m (down 11% from 2Q 2024). Net loss: kr3.13m (loss widened 127% from 2Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. New Risk • Jul 24
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 9.6% 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 Earnings have declined by 59% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (kr365.3m market cap, or US$38.3m). Recent Insider Transactions • May 23
Chief Executive Officer recently bought kr148k worth of stock On the 16th of May, Ulrika Bjork bought around 12k shares on-market at roughly kr12.75 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ulrika has been a buyer over the last 12 months, purchasing a net total of kr136k worth in shares. New Risk • May 12
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 9.9% 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: Major Risk Earnings have declined by 56% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (kr434.7m market cap, or US$44.7m). Announcement • May 08
Polygiene Group AB Approves Dividend, Payable on May 15, 2025 and October 6, 2025 Polygiene Group AB announced that at its AGM held on May 8, 2025, the shareholders approved dividend of SEK 0.27 per share shall be paid, and that the remaining available funds are carried forward. The dividend shall be split into two payments of SEK 0.14 and SEK 0.13 per share, respectively. The record date for the first dividend payment was set for May 12, 2025, and for the second dividend payment October 1, 2025. The first payment is expected to be distributed on May 15, 2025, and the second payment is expected to be distributed on October 6, 2025. New Risk • Apr 25
New major risk - Revenue and earnings growth Earnings have declined by 56% 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 56% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr339.7m market cap, or US$35.0m). Reported Earnings • Apr 20
Full year 2024 earnings released: EPS: kr0.46 (vs kr8.31 loss in FY 2023) Full year 2024 results: EPS: kr0.46 (up from kr8.31 loss in FY 2023). Revenue: kr156.9m (up 38% from FY 2023). Net income: kr16.8m (up kr320.5m from FY 2023). Profit margin: 11% (up from net loss in FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • Apr 08
Polygiene Group AB Announces Annual Dividend, Payable on May 15, 2025 Polygiene Group AB announced Annual dividend of SEK 0.0500 per share payable on May 15, 2025, ex-date on May 09, 2025 and record date on May 12, 2025. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr11.00, the stock trades at a trailing P/E ratio of 23.9x. Average forward P/E is 12x in the Chemicals industry in Sweden. Total loss to shareholders of 54% over the past three years. Announcement • Apr 04
Polygiene Group AB (Publ) Proposes One-Time Extra Dividend The Board of Directors of Polygiene Group AB (publ) announced due to a very strong cash position, accumulated over several years, the Board now additionally proposes a one-time extra dividend of SEK 0.22 per share. The Board will therefore propose to the Annual General Meeting on 8 May 2025 a total dividend of SEK 0.27 per share, distributed in two payments: SEK 0.14 per share in May 2025 and SEK 0.13 per share in October 2025. Buy Or Sell Opportunity • Feb 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to kr11.55. The fair value is estimated to be kr14.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Meanwhile, the company has become profitable. Announcement • Feb 18
Polygiene Group Launches Polygiene Staycool Polygiene Group is expanding its product portfolio with the launch of Polygiene StayCool™?, an innovative cooling technology for textiles. This expansion complements the company's existing offering in odor control and responds to the strong market demand for functional textiles with enhanced comfort. Polygiene StayCool is based on a thermoactive composition that binds to textile fibers and is activated upon contact with moisture and heat, creating a cooling effect and lowering the fabric temperature between 2 - 3degC. The technology is compatible with various materials, including cotton, synthetic fibers, and recycled textiles, and is particularly suited for sportswear, everyday clothing, bedding, and workwear. The global market for cooling technologies is expected to experience strong growth in the coming years, and Polygiene Group is well-positioned to capitalize on this development. By expanding its product portfolio with StayCool, the company strengthens its competitiveness and market share in functional textiles, creating new business opportunities and increasing its appeal to both existing and future partners. Reported Earnings • Feb 14
Full year 2024 earnings released: EPS: kr0.46 (vs kr8.31 loss in FY 2023) Full year 2024 results: EPS: kr0.46 (up from kr8.31 loss in FY 2023). Revenue: kr164.2m (up 45% from FY 2023). Net income: kr16.8m (up kr320.5m from FY 2023). Profit margin: 10% (up from net loss in FY 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Announcement • Feb 14
Polygiene Group AB, Annual General Meeting, May 08, 2025 Polygiene Group AB, Annual General Meeting, May 08, 2025. Buy Or Sell Opportunity • Feb 11
Now 20% undervalued Over the last 90 days, the stock has risen 14% to kr12.25. The fair value is estimated to be kr15.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Dec 30
Now 20% undervalued Over the last 90 days, the stock has risen 22% to kr12.45. The fair value is estimated to be kr15.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Dec 05
Now 20% undervalued Over the last 90 days, the stock has risen 19% to kr12.35. The fair value is estimated to be kr15.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Oct 25
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr42.7m (up 49% from 3Q 2023). Net income: kr1.76m (up kr16.9m from 3Q 2023). Profit margin: 4.1% (up from net loss in 3Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Announcement • Oct 17
Polygiene Group AB to Report Q3, 2024 Results on Oct 24, 2024 Polygiene Group AB announced that they will report Q3, 2024 results at 8:00 AM, Central European Standard Time on Oct 24, 2024 New Risk • Oct 02
New major risk - Revenue and earnings growth Earnings have declined by 61% 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 61% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr365.3m market cap, or US$35.6m). New Risk • Aug 30
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 8.6% 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 (8.6% average weekly change). Market cap is less than US$100m (kr389.0m market cap, or US$37.9m). Reported Earnings • Jul 24
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr36.5m (up 44% from 2Q 2023). Net loss: kr1.37m (down 106% from profit in 2Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Announcement • Jul 16
Polygiene Group AB to Report Q2, 2024 Results on Jul 23, 2024 Polygiene Group AB announced that they will report Q2, 2024 results at 8:00 AM, Central European Standard Time on Jul 23, 2024 Announcement • May 18
Polygiene Group AB Resolves Board Changes Polygiene Group AB announced that at its AGM held on May 16, 2024, the annual shareholders' meeting resolved to elect Sofia Svensson as new ordinary board member. Hakan Lagerberg and Pamela Ravasio had declined re-election. Price Target Changed • May 05
Price target increased by 57% to kr11.00 Up from kr7.00, the current price target is provided by 1 analyst. New target price is 28% above last closing price of kr8.60. Stock is up 54% over the past year. The company is forecast to post earnings per share of kr0.55 next year compared to a net loss per share of kr8.31 last year. New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 48% 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 48% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (kr339.0m market cap, or US$31.0m). Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: kr0.25 (vs kr0.12 in 1Q 2023) First quarter 2024 results: EPS: kr0.25 (up from kr0.12 in 1Q 2023). Revenue: kr36.2m (up 29% from 1Q 2023). Net income: kr9.09m (up 107% from 1Q 2023). Profit margin: 25% (up from 16% in 1Q 2023). Revenue is forecast to grow 9.8% 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, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 26
Now 32% overvalued after recent price rise Over the last 90 days, the stock has risen 26% to kr9.12. The fair value is estimated to be kr6.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.5% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 13% in a year. Earnings are forecast to grow by 99% in the next year. Reported Earnings • Apr 22
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: kr8.31 loss per share (down from kr0.60 profit in FY 2022). Revenue: kr113.5m (down 35% from FY 2022). Net loss: kr303.6m (down kr325.5m from profit in FY 2022). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 10% 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, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Announcement • Apr 19
Polygiene Group AB to Report Q1, 2024 Results on Apr 25, 2024 Polygiene Group AB announced that they will report Q1, 2024 results at 8:00 AM, Central European Standard Time on Apr 25, 2024 Recent Insider Transactions • Mar 25
Chief Executive Officer recently bought kr389k worth of stock On the 22nd of March, Ulrika Bjork bought around 50k shares on-market at roughly kr7.78 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. Ulrika has been a buyer over the last 12 months, purchasing a net total of kr252k worth in shares. Reported Earnings • Feb 16
Full year 2023 earnings released: kr8.31 loss per share (vs kr0.60 profit in FY 2022) Full year 2023 results: kr8.31 loss per share (down from kr0.60 profit in FY 2022). Revenue: kr119.5m (down 31% from FY 2022). Net loss: kr303.6m (down kr325.5m from profit in FY 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr6.02, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 13x in the Chemicals industry in Sweden. Total loss to shareholders of 82% over the past three years. Buy Or Sell Opportunity • Feb 08
Now 23% undervalued Over the last 90 days, the stock has risen 21% to kr6.45. The fair value is estimated to be kr8.36, 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. Meanwhile, the company has become profitable. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 79% in the next 2 years. Recent Insider Transactions • Dec 07
Chief Executive Officer recently bought kr418k worth of stock On the 1st of December, Ulrika Bjork bought around 55k shares on-market at roughly kr7.60 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. Ulrika has been a buyer over the last 12 months, purchasing a net total of kr175k worth in shares. Announcement • Nov 30
Polygiene Launches Textile-Protection Polygiene ShedGuard™ Innovation Project Polygiene launched a new innovation project, Polygiene ShedGuardTM. Designed to minimize micro-fiber loss and improve resistance to fabric wear during washing, Polygiene ShedGuard extends textiles' expected lifespans, ensuring customers benefit from longer-lasting products. By facilitating the production of more durable textiles, Polygiene is putting its Mindful Living® philosophy into practice by encouraging the transition from consumables to durables and a more sustainable approach to product design and delivery. The Polygiene ShedGuardTM innovation project is in the latter stages of development, with final testing and refinement due to take place in conjunction with selected Polygiene partners during 2024. An effective, long-lasting solution: Polygiene Shedguard consists of a unique blend of polymers that form a film around the fiber bundles. The film prevent microfibrils from separating, splitting, and tearing away from the fabric structure. The company's research shows that Polygiene Shedguard reduces micro-fiber loss by up to 70%. At the same time, it benefits manufacturers and consumers by: Reducing wear from fabric abrasion. Prevents the release of fiber fragments into the surrounding environment. Enhances the performance of other Polygiene technologies, such as Polygiene StayFreshTM, Polygiene StayFreshBIOTM and Polygiene OdorCrunchTM, by locking in their antimicrobial and odor-control properties for even longer. Polygiene's ShedGuard voted Best Product: Polygiene ShedGuard has been recognized as the Best Product at ISPO Textrends in the Performing Finishes category. This event showcases the latest and most innovative garments, accessories, fabrics, fibers, and components for the sports and outdoor industries. The award is given twice a year and highlights the upcoming trends in the textile and apparel sectors, predicted by industry experts two years in advance. Participants are evaluated by an international panel of judges, and the winners are presented at the ISPO Munich and OutDoor by ISPO Textrends exhibition. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr6.50, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 15x in the Chemicals industry in Europe. Total loss to shareholders of 75% over the past three years. Announcement • Nov 24
The Polygiene Group Launches Groundbreaking, Plant-Based Technology for the Textile Market Polygiene Group AB launches a unique, plant-based antimicrobial technology for the textile market. Polygiene signed an exclusive distributor agreement with the French biotech company Proneem. The agreement runs for 3 years and gives Polygiene access to new, innovative technology that will complement their existing portfolio of odor controlsolutions. The technology is based on a 100% bio-based active ingredient, extracted from plant-based substances. The product is an excellent addition to Polygiene's current silver-based solution and is in line with the movement in certain regions to look for metal-free antimicrobial additives. The active ingredient in this technology is based on a natural organic acid that is widely used in the food, pharmaceutical, and cosmetics industries. Through the development partnership with the French biotech company Proneem, Polygiene gains access to a unique, first-to-market product with global exclusivity in the Sports & Outdoor and Lifestyle & Fashion segments. The product will be available on the market from January 2024 and launched at ISPO, November 2023. New Risk • Nov 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 8.8% 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 Share price has been volatile over the past 3 months (8.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.4% net profit margin). Market cap is less than US$100m (kr194.0m market cap, or US$17.9m). Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 50%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from kr115.5m to kr117.5m. EPS estimate fell from kr0.68 to kr0.34 per share. Net income forecast to shrink 2.5% next year vs 5.8% growth forecast for Chemicals industry in Sweden . Consensus price target of kr7.50 unchanged from last update. Share price rose 27% to kr5.64 over the past week. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to kr5.66, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 14x in the Chemicals industry in Europe. Total loss to shareholders of 84% over the past three years. Reported Earnings • Oct 28
Third quarter 2023 earnings released: kr0.42 loss per share (vs kr0.16 profit in 3Q 2022) Third quarter 2023 results: kr0.42 loss per share (down from kr0.16 profit in 3Q 2022). Revenue: kr30.8m (down 25% from 3Q 2022). Net loss: kr15.2m (down 365% from profit in 3Q 2022). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 49% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 03
Consensus revenue estimates decrease by 11%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from kr130.3m to kr115.5m. EPS estimate increased from kr0.22 to kr0.68 per share. Net income forecast to shrink 48% next year vs 0.8% growth forecast for Chemicals industry in Sweden . Consensus price target down from kr9.00 to kr7.50. Share price fell 7.8% to kr5.52 over the past week. New Risk • Jul 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.3% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 are forecast to decline by an average of 8.3% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (19% net profit margin). Market cap is less than US$100m (kr200.9m market cap, or US$19.1m). Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: kr0.67 (vs kr0.47 in 2Q 2022) Second quarter 2023 results: EPS: kr0.67 (up from kr0.47 in 2Q 2022). Revenue: kr26.2m (down 45% from 2Q 2022). Net income: kr24.3m (up 42% from 2Q 2022). Profit margin: 93% (up from 36% in 2Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Announcement • May 12
Polygiene Group AB Announces Board Changes Polygiene Group AB announced that at its AGM held on May 11, 2023, shareholders approved the election of Bengt Engström as new ordinary board member. Martin Kössler had declined re-election. Reported Earnings • Apr 24
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: kr0.60 (down from kr1.81 in FY 2021). Revenue: kr173.6m (down 4.4% from FY 2021). Net income: kr21.8m (down 66% from FY 2021). Profit margin: 13% (down from 35% in FY 2021). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) also missed analyst estimates by 41%. Revenue is forecast to grow 9.3% 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 90% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to kr5.09, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 15x in the Chemicals industry in Europe. Total loss to shareholders of 31% over the past three years. Reported Earnings • Feb 20
Full year 2022 earnings released: EPS: kr0.60 (vs kr1.81 in FY 2021) Full year 2022 results: EPS: kr0.60 (down from kr1.81 in FY 2021). Revenue: kr173.6m (down 4.4% from FY 2021). Net income: kr21.8m (down 66% from FY 2021). Profit margin: 13% (down from 35% in FY 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in Sweden. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 17
Polygiene Group AB to Report Fiscal Year 2022 Final Results on Apr 20, 2023 Polygiene Group AB announced that they will report fiscal year 2022 final results at 9:00 AM, Central European Standard Time on Apr 20, 2023