Upcoming Dividend • Apr 22
Upcoming dividend of kr0.80 per share Eligible shareholders must have bought the stock before 29 April 2026. Payment date: 06 May 2026. Payout ratio is on the higher end at 87%, however this is supported by cash flows. Trailing yield: 4.1%. Within top quartile of Swedish dividend payers (4.0%). Higher than average of industry peers (3.7%). Reported Earnings • Feb 18
Full year 2025 earnings released: EPS: kr0.92 (vs kr0.85 in FY 2024) Full year 2025 results: EPS: kr0.92 (up from kr0.85 in FY 2024). Revenue: kr244.6m (up 5.2% from FY 2024). Net income: kr7.80m (up 8.3% from FY 2024). Profit margin: 3.2% (up from 3.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Feb 17
Söder Sportfiske AB announces Annual dividend, payable on May 06, 2026 Söder Sportfiske AB announced Annual dividend of SEK 0.8000 per share payable on May 06, 2026, ex-date on April 29, 2026 and record date on April 30, 2026. Announcement • Feb 13
Söder Sportfiske AB, Annual General Meeting, Apr 28, 2026 Söder Sportfiske AB, Annual General Meeting, Apr 28, 2026. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr23.70, the stock trades at a trailing P/E ratio of 35.8x. Average trailing P/E is 24x in the Specialty Retail industry in Sweden. Total loss to shareholders of 12% over the past three years. Reported Earnings • Oct 26
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: kr65.5m (flat on 3Q 2024). Net income: kr3.20m (down 29% from 3Q 2024). Profit margin: 4.9% (down from 6.8% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 18
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: kr71.1m (down 2.3% from 2Q 2024). Net income: kr4.50m (down 22% from 2Q 2024). Profit margin: 6.3% (down from 8.0% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 17
Now 24% undervalued Over the last 90 days, the stock has risen 20% to kr30.90. The fair value is estimated to be kr40.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Earnings per share has grown by 48%. Upcoming Dividend • Apr 30
Upcoming dividend of kr0.80 per share Eligible shareholders must have bought the stock before 07 May 2025. Payment date: 13 May 2025. Payout ratio is on the higher end at 94%, however this is supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Swedish dividend payers (4.0%). Lower than average of industry peers (4.5%). New Risk • Apr 17
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 94% Dividend yield: 3.1% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (94% payout ratio). Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr216.8m market cap, or US$22.5m). Reported Earnings • Apr 14
Full year 2024 earnings released: EPS: kr0.85 (vs kr0.68 in FY 2023) Full year 2024 results: EPS: kr0.85 (up from kr0.68 in FY 2023). Revenue: kr232.9m (up 4.5% from FY 2023). Net income: kr7.20m (up 26% from FY 2023). Profit margin: 3.1% (up from 2.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to kr26.00, the stock trades at a trailing P/E ratio of 39.2x. Average trailing P/E is 19x in the Specialty Retail industry in Sweden. Total loss to shareholders of 54% over the past three years. Declared Dividend • Apr 06
Dividend increased to kr0.80 Dividend of kr0.80 is 33% higher than last year. Ex-date: 7th May 2025 Payment date: 13th May 2025 Dividend yield will be 2.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (80% earnings payout ratio) and cash flows (30% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to decline by 11% to shift the payout ratio to a potentially unsustainable range, which is less than the 20% EPS decline seen over the last 3 years. Announcement • Feb 14
Söder Sportfiske AB, Annual General Meeting, May 06, 2025 Söder Sportfiske AB, Annual General Meeting, May 06, 2025. New Risk • Jan 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 7.5% 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 24% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (kr219.3m market cap, or US$19.7m). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr29.80, the stock trades at a trailing P/E ratio of 44.9x. Average trailing P/E is 19x in the Specialty Retail industry in Sweden. Total loss to shareholders of 54% over the past three years. New Risk • Nov 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.2% Last year net profit margin: 3.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (8.3% average weekly change). Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (kr226.1m market cap, or US$21.0m). Reported Earnings • Oct 25
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr66.2m (up 9.8% from 3Q 2023). Net income: kr4.50m (up 15% from 3Q 2023). Profit margin: 6.8% (up from 6.5% in 3Q 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to kr27.20, the stock trades at a trailing P/E ratio of 57.4x. Average trailing P/E is 21x in the Specialty Retail industry in Sweden. Negligible returns to shareholders over past year. Reported Earnings • Apr 26
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr40.8m (down 6.4% from 1Q 2023). Net loss: kr2.40m (loss widened 243% from 1Q 2023). New Risk • Apr 08
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 2.4% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (kr214.3m market cap, or US$20.2m). Reported Earnings • Mar 28
Full year 2023 earnings released Full year 2023 results: Revenue: kr223.7m (up 2.6% from FY 2022). Net income: kr5.70m (up 235% from FY 2022). Profit margin: 2.5% (up from 0.8% in FY 2022). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr25.40, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 24x in the Specialty Retail industry in Sweden. Total loss to shareholders of 20% over the past year. Reported Earnings • Oct 27
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: kr60.6m (up 2.7% from 3Q 2022). Net income: kr3.90m (up 160% from 3Q 2022). Profit margin: 6.4% (up from 2.5% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Reported Earnings • Jul 21
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr69.4m (up 1.0% from 2Q 2022). Net income: kr3.70m (down 2.6% from 2Q 2022). Profit margin: 5.3% (down from 5.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 27
First quarter 2023 earnings released First quarter 2023 results: Revenue: kr43.8m (up 7.1% from 1Q 2022). Net loss: kr700.0k (loss narrowed 71% from 1Q 2022). Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: kr0.20 (vs kr1.11 in FY 2021) Full year 2022 results: EPS: kr0.20 (down from kr1.11 in FY 2021). Revenue: kr218.0m (up 12% from FY 2021). Net income: kr1.70m (down 81% from FY 2021). Profit margin: 0.8% (down from 4.6% in FY 2021). The decrease in margin was driven by higher expenses. Board Change • Nov 16
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. 4 non-independent directors. Independent Director David Granath 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. Reported Earnings • Oct 30
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: kr59.1m (up 2.6% from 3Q 2021). Net income: kr1.50m (down 63% from 3Q 2021). Profit margin: 2.5% (down from 7.1% in 3Q 2021). Reported Earnings • Jul 17
Second quarter 2022 earnings released: EPS: kr0.45 (vs kr0.78 in 2Q 2021) Second quarter 2022 results: EPS: kr0.45 (down from kr0.78 in 2Q 2021). Revenue: kr68.7m (up 14% from 2Q 2021). Net income: kr3.80m (down 35% from 2Q 2021). Profit margin: 5.5% (down from 9.6% in 2Q 2021). Reported Earnings • May 04
First quarter 2022 earnings released First quarter 2022 results: Revenue: kr41.1m (down 14% from 1Q 2021). Net loss: kr2.40m (down 165% from profit in 1Q 2021). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director David Granath 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. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to kr50.00, the stock trades at a trailing P/E ratio of 46.9x. Average trailing P/E is 29x in the Online Retail industry in Sweden. Reported Earnings • Feb 20
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr1.20. Revenue: kr194.7m (up 18% from FY 2020). Net income: kr9.00m (down 17% from FY 2020). Profit margin: 4.6% (down from 6.5% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates.