Announcement • Jun 14
Zinzino Launches Collagen Boozt Flex as Beauty-From-Within Enters Daily Routines Zinzino announced the launch of Collagen Boozt Flex - a new marine collagen powder designed to bring beauty-supporting nutrients, wellness and convenience into one daily format. The launch comes at a time when functional beauty products, collagen and holistic wellness routines are becoming more established in consumer lifestyles globally. Collagen Boozt Flex will be available across European markets from 13 June 2026 and has been developed to meet these evolving consumer preferences. The berry-flavoured powder delivers 8 grams of hydrolysed marine collagen peptides sourced from wild-caught Arctic fish from Norwegian waters, giving the formula a clear Nordic provenance. It also contains 120 mg of hyaluronic acid, vitamin C from acerola cherry, biotin, zinc, rice bran ceramides and the amino acids L-arginine and glycine. A distinguishing feature of the formula is the inclusion of postbiotics - compounds produced through the activity of beneficial bacteria. Their addition reflects growing consumer interest in beauty-from-within routines that take a broader view of wellness and recognise the increasing focus on the relationship between digestive wellbeing and everyday wellness. Designed for active, modern lifestyles, Collagen Boozt Flex can be mixed with water, blended into smoothies or added to breakfast, making it easy to incorporate into daily routines. The launch also expands Zinzino's existing Collagen Boozt range, giving consumers the choice between a ready-to-drink collagen gel and a flexible powder format. Vitamin C contributes to normal collagen formation for the normal function of skin, cartilage and bones. Biotin and zinc contribute to the maintenance of normal skin and hair, while zinc also contributes to the maintenance of normal nails. Collagen Boozt Flex will be available across European markets from 13 June 2026 through Zinzino's global distribution network. Announcement • Jun 03
Zinzino AB (Publ) Approves Cash Dividend for the Year 2025 Zinzino AB (publ) announced at annual general meeting held on June 2, 2026, the shareholders approved to distribute SEK 6 per share for the 2025 fiscal year and to carry forward the remaining portion of retained earnings. Upcoming Dividend • May 28
Upcoming dividend of kr6.00 per share Eligible shareholders must have bought the stock before 03 June 2026. Payment date: 09 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.8%. Lower than top quartile of Swedish dividend payers (4.1%). Higher than average of industry peers (3.1%). New Risk • May 26
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 117% Dividend yield: 3.7% 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. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 30
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: kr9.09 (up from kr4.95 in FY 2024). Revenue: kr3.33b (up 51% from FY 2024). Net income: kr324.3m (up 92% from FY 2024). Profit margin: 9.7% (up from 7.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.9%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Apr 23
Chief Executive Officer exercised options to buy kr13m worth of stock. On the 17th of April, Dag Pettersen exercised options to buy 100k shares at a strike price of around kr63.00, costing a total of kr6.3m. This transaction amounted to 8.1% of their direct individual holding at the time of the trade. Since September 2025, Dag has owned 1.23m shares directly. Company insiders have collectively sold kr37m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Apr 19
Zinzino AB (publ) Announces Resignation of Anna Frick from Board of Directors Zinzino AB (publ) announced that Anna Frick has requested to resign from the Board of Directors for personal reasons. Anna Frick was elected to the Board on May 20, 2021. Following her resignation, the Board consists of Chairman Hans Jacobsson and Board members Staffan Hillberg, Ingela Nordenhav, and Pierre Mårtensson. Price Target Changed • Apr 16
Price target decreased by 8.1% to kr215 Down from kr234, the current price target is provided by 1 analyst. New target price is 39% above last closing price of kr155. Stock is up 1.8% over the past year. The company is forecast to post earnings per share of kr9.59 for next year compared to kr9.09 last year. Declared Dividend • Mar 01
Dividend increased to kr6.00 Dividend of kr6.00 is 50% higher than last year. Ex-date: 3rd June 2026 Payment date: 9th June 2026 Dividend yield will be 3.9%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (58% earnings payout ratio) and cash flows (62% cash payout ratio). The dividend has increased by an average of 37% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: kr8.95 (vs kr4.95 in FY 2024) Full year 2025 results: EPS: kr8.95 (up from kr4.95 in FY 2024). Revenue: kr3.34b (up 52% from FY 2024). Net income: kr324.3m (up 92% from FY 2024). Profit margin: 9.7% (up from 7.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 26
Zinzino AB (publ), Annual General Meeting, Jun 02, 2026 Zinzino AB (publ), Annual General Meeting, Jun 02, 2026. Location: at hulda mellgrens gata 5, in vastra frolunda, Sweden Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to kr167, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 8x in the Retail Distributors industry in Europe. Total returns to shareholders of 377% over the past three years. Announcement • Jan 27
Zinzino AB (publ) (OM:ZZ B) acquired It Works Marketing, Inc. for $29.5 million. Zinzino AB (publ) (OM:ZZ B) acquired It Works Marketing, Inc. for $29.5 million on January 26, 2026. The consideration consists of 1.84 million common equity of Zinzino AB (publ) having a value of $29.51 million to be issued for common equity of It Works Marketing, Inc.
Zinzino AB (publ) (OM:ZZ B) completed the acquisition of It Works Marketing, Inc. on January 26, 2026. Major Estimate Revision • Nov 26
Consensus EPS estimates increase by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from kr3.37b to kr3.42b. EPS estimate increased from kr6.57 to kr7.95 per share. Net income forecast to grow 45% next year vs 12% growth forecast for Retail Distributors industry in Sweden. Consensus price target down from kr234 to kr221. Share price rose 9.2% to kr170 over the past week. Price Target Changed • Nov 24
Price target decreased by 11% to kr221 Down from kr249, the current price target is provided by 1 analyst. New target price is 31% above last closing price of kr168. Stock is up 102% over the past year. The company is forecast to post earnings per share of kr7.95 for next year compared to kr4.95 last year. Reported Earnings • Nov 20
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: kr2.47 (up from kr1.24 in 3Q 2024). Revenue: kr784.1m (up 47% from 3Q 2024). Net income: kr89.4m (up 111% from 3Q 2024). Profit margin: 11% (up from 8.0% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) exceeded analyst estimates by 54%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 83% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to kr156, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 9x in the Retail Distributors industry in Europe. Total returns to shareholders of 541% over the past three years. Announcement • Oct 13
Zinzino AB (publ) Announces Launch of its Innovative Gut Health Test Zinzino announced the launch of its innovative gut Health Test. With a simple at-home finger prick, this is the first commercial test to measure what gut bacteria produce and how the body responds, providing fresh insights into how diet and lifestyle affect immune defense and overall health. By eliminating the need for stool samples, the test makes preventative gut health routines and personalized diets easier and more accessible. Research indicates that a balanced gut supports the whole body. More than 70% of the body's immune system is in the gut, and every gut microbiome is different. Traditional microbiome (stool) tests only look at the diversity of microbes present in the gut. Zinzino's gut Health Test is the first of a new generation of gut health tests that measure gut function and whether these processes strengthen or strain the immune system.2 Individuals can then use the test results to take proactive steps to restore their unique gut-metabolic balance with diet and lifestyle adjustments. The test is available now for purchase online or through selected distributors. How the test works: Collect a few drops of blood at home on a filter paper with a simple finger prick. Send the sample to an independent chemical laboratory in Oslo, Norway, for reliable analysis and objective results. Each sample is handled anonymously and cannot be traced back to individuals. Receive a personalized test report within 2-3 weeks at zinzinotest.com and Take a follow-up test after 120 days to track the body's response to diet and lifestyle adjustments. Recent Insider Transactions • Sep 16
Independent Chairman of the Board recently sold kr8.0m worth of stock On the 12th of September, Hans Jacobsson sold around 47k shares on-market at roughly kr170 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr14m. Hans has been a net seller over the last 12 months, reducing personal holdings by kr14m. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: kr1.56 (vs kr1.41 in 2Q 2024) Second quarter 2025 results: EPS: kr1.56 (up from kr1.41 in 2Q 2024). Revenue: kr794.4m (up 57% from 2Q 2024). Net income: kr55.3m (up 15% from 2Q 2024). Profit margin: 7.0% (down from 9.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 18
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 7.0% 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 (7.0% average weekly change). Significant insider selling over the past 3 months (kr36m sold). Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr202, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 10x in the Retail Distributors industry in Europe. Total returns to shareholders of 555% over the past three years. Buy Or Sell Opportunity • Jul 30
Now 27% undervalued Over the last 90 days, the stock has risen 37% to kr234. The fair value is estimated to be kr319, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to kr230, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 10x in the Retail Distributors industry in Europe. Total returns to shareholders of 671% over the past three years. Recent Insider Transactions • Jul 15
Chief Executive Officer recently sold kr11m worth of stock On the 11th of July, Dag Pettersen sold around 40k shares on-market at roughly kr286 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Dag's only on-market trade for the last 12 months. Recent Insider Transactions • Jul 08
Independent Director recently sold kr373k worth of stock On the 3rd of July, Staffan Esbjorn Hillberg sold around 1k shares on-market at roughly kr258 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr6.0m. Insiders have been net sellers, collectively disposing of kr14m more than they bought in the last 12 months. Buy Or Sell Opportunity • Jul 04
Now 21% undervalued Over the last 90 days, the stock has risen 82% to kr254. The fair value is estimated to be kr321, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Recent Insider Transactions Derivative • Jun 22
Chief Supply Chain Officer exercised options to buy kr713k worth of stock. On the 18th of June, Henrik Hammargren exercised options to buy 3k shares at a strike price of around kr56.00, costing a total of kr185k. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. Since December 2024, Henrik's direct individual holding has increased from 39.00k shares to 42.53k. Company insiders have collectively sold kr3.0m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jun 21
CFO & Head of Investor Relations recently sold kr707k worth of stock On the 16th of June, Fredrik Nielsen sold around 4k shares on-market at roughly kr202 per share. This transaction amounted to 5.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr816k. Fredrik has been a net seller over the last 12 months, reducing personal holdings by kr2.2m. Recent Insider Transactions • Jun 01
Chief Marketing Officer recently sold kr193k worth of stock On the 23rd of May, Gabriele Helmer sold around 1k shares on-market at roughly kr193 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr816k. Insiders have been net sellers, collectively disposing of kr5.5m more than they bought in the last 12 months. Announcement • May 29
Zinzino AB (Publ) Approves Dividend for the Financial Year 2024 Zinzino AB (publ.) at its Annual General Meeting held on 28 May 2025, approved to distribute SEK 4 per share for the financial year 2024. Recent Insider Transactions • May 26
Chief Marketing Officer recently sold kr193k worth of stock On the 23rd of May, Gabriele Helmer sold around 1k shares on-market at roughly kr193 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr816k. Insiders have been net sellers, collectively disposing of kr5.6m more than they bought in the last 12 months. Upcoming Dividend • May 23
Upcoming dividend of kr4.00 per share Eligible shareholders must have bought the stock before 30 May 2025. Payment date: 05 June 2025. Payout ratio is a comfortable 72% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Swedish dividend payers (3.8%). Lower than average of industry peers (3.2%). Reported Earnings • May 20
First quarter 2025 earnings released: EPS: kr1.61 (vs kr1.04 in 1Q 2024) First quarter 2025 results: EPS: kr1.61 (up from kr1.04 in 1Q 2024). Revenue: kr723.7m (up 59% from 1Q 2024). Net income: kr56.0m (up 58% from 1Q 2024). Profit margin: 7.7% (down from 7.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 11
Dividend increased to kr4.00 Dividend of kr4.00 is 33% higher than last year. Ex-date: 30th May 2025 Payment date: 5th June 2025 Dividend yield will be 2.8%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 45% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions Derivative • Apr 03
CFO & Head of Investor Relations exercised options to buy kr1.5m worth of stock. On the 25th of March, Fredrik Nielsen exercised options to buy 10k shares at a strike price of around kr56.00, costing a total of kr560k. This transaction amounted to 18% of their direct individual holding at the time of the trade. Since December 2024, Fredrik's direct individual holding has increased from 60.00k shares to 65.00k. Company insiders have collectively bought kr6.0m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Mar 27
CFO & Head of Investor Relations recently sold kr751k worth of stock On the 24th of March, Fredrik Nielsen sold around 5k shares on-market at roughly kr150 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Fredrik has been a net seller over the last 12 months, reducing personal holdings by kr1.5m. Recent Insider Transactions Derivative • Mar 12
Independent Director exercised options to buy kr21m worth of stock. On the 10th of March, Pierre Martensson exercised options to buy 150k shares at a strike price of around kr45.00, costing a total of kr6.7m. This transaction amounted to 500% of their direct individual holding at the time of the trade. Pierre currently holds less than 1% of total shares outstanding. Company insiders have collectively bought kr6.3m more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr143, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 9x in the Retail Distributors industry in Europe. Total returns to shareholders of 329% over the past three years. Reported Earnings • Mar 03
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: kr4.95 (up from kr4.83 in FY 2023). Revenue: kr2.21b (up 26% from FY 2023). Net income: kr169.2m (up 3.3% from FY 2023). Profit margin: 7.7% (down from 9.3% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 01
Zinzino AB (Publ) Proposes Dividend for the Financial Year of 2024 The Board of Directors of Zinzino AB (publ) proposed to the Annual General Meeting on May 28, 2025 a dividend of SEK 4.00 (3.00) per share for the financial year of 2024. Announcement • Feb 28
Zinzino AB (publ), Annual General Meeting, May 28, 2025 Zinzino AB (publ), Annual General Meeting, May 28, 2025. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr127, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 9x in the Retail Distributors industry in Europe. Total returns to shareholders of 223% over the past three years. Recent Insider Transactions • Jan 29
Independent Director recently sold kr254k worth of stock On the 24th of January, Staffan Esbjorn Hillberg sold around 2k shares on-market at roughly kr105 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr361k. Insiders have been net sellers, collectively disposing of kr3.1m more than they bought in the last 12 months. Recent Insider Transactions • Jan 10
Chief Human Resources Officer recently sold kr361k worth of stock On the 7th of January, Linda Johnsson sold around 4k shares on-market at roughly kr92.62 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr759k. Insiders have been net sellers, collectively disposing of kr3.0m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr99.10, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 9x in the Retail Distributors industry in Europe. Total returns to shareholders of 108% over the past three years. Recent Insider Transactions • Dec 16
Chief Human Resources Officer recently sold kr172k worth of stock On the 13th of December, Linda Johnsson sold around 2k shares on-market at roughly kr86.00 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth kr759k. Insiders have been net sellers, collectively disposing of kr2.7m more than they bought in the last 12 months. New Risk • Dec 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% 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: Minor Risks Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Significant insider selling over the past 3 months (kr1.3m sold). Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr79.90, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 9x in the Retail Distributors industry in Europe. Total returns to shareholders of 52% over the past three years. Recent Insider Transactions • Oct 20
Chief Supply Chain Officer recently sold kr183k worth of stock On the 17th of October, Henrik Hammargren sold around 2k shares on-market at roughly kr91.40 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr1.6m more than they bought in the last 12 months. Price Target Changed • Oct 05
Price target increased by 8.1% to kr97.00 Up from kr89.70, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of kr93.40. Stock is up 136% over the past year. The company is forecast to post earnings per share of kr5.23 for next year compared to kr4.83 last year. Reported Earnings • Sep 03
Second quarter 2024 earnings: Revenues and EPS in line with analyst expectations Second quarter 2024 results: EPS: kr1.41 (up from kr1.09 in 2Q 2023). Revenue: kr507.0m (up 24% from 2Q 2023). Net income: kr48.0m (up 30% from 2Q 2023). Profit margin: 9.5% (in line with 2Q 2023). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr79.50, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 9x in the Retail Distributors industry in Europe. Total returns to shareholders of 33% over the past three years. Announcement • Jun 28
Zinzino AB (publ) (OM:ZZ B) acquired 49% stake in Cleanthi Alpha-Olenic Ltd. Zinzino AB (publ) (OM:ZZ B) acquired 49% stake in Cleanthi Alpha-Olenic Ltd for €2.4 million on June 27, 2024. Zinzino initially acquires 49% of the shares in the Company and pays a fixed purchase price of €1.9 million at closing, of which €1.2 million in newly issued Zinzino shares. In addition, Cleanthi will receive €0.5 million through a new issue of Zinzino. In addition, Zinzino also receives an option to acquire an additional 1% of the Company from the sellers for €1. The cash part of the purchase price and the new share issue is financed through the group's own cash.
Zinzino AB (publ) (OM:ZZ B) completed the acquisition of 49% stake in Cleanthi Alpha-Olenic Ltd on June 27, 2024. Recent Insider Transactions • Jun 21
Independent Director recently sold kr1.2m worth of stock On the 19th of June, Anna Frick sold around 18k shares on-market at roughly kr69.69 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr1.9m more than they bought in the last 12 months. Announcement • Jun 19
Zinzino AB (publ) (OM:ZZ B) signed a letter of intent to acquire Zurvita Holdings, Inc. (OTCPK:ZRVT) for $16.5 million. Zinzino AB (publ) (OM:ZZ B) signed a letter of intent to acquire Zurvita Holdings, Inc. (OTCPK:ZRVT) for $16.5 million on June 17, 2024. A cash consideration of $11.5 million will be paid by Zinzino AB (publ). The consideration consists of common equity of Zinzino AB (publ), equal to $5 million, to be issued for common equity of Zurvita Holdings, Inc. Zinzino AB (publ) will pay an earnout/contingent payment of $0.5 million cash. The transaction is subject to consummation of due diligence investigation. Zinzino intends to sign a final acquisition agreement during the third quarter of 2024. Carnegie Investment Bank AB (publ) acted as financial advisor to Zinzino AB. Board Change • Jun 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Anna Frick was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 31
Independent Director recently sold kr72k worth of stock On the 29th of May, Ingela Nordenhav sold around 1k shares on-market at roughly kr72.10 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr567k more than they sold in the last 12 months. Reported Earnings • May 23
First quarter 2024 earnings released: EPS: kr1.04 (vs kr0.86 in 1Q 2023) First quarter 2024 results: EPS: kr1.04 (up from kr0.86 in 1Q 2023). Revenue: kr454.5m (up 15% from 1Q 2023). Net income: kr35.4m (up 21% from 1Q 2023). Profit margin: 7.8% (up from 7.4% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • May 21
Upcoming dividend of kr3.00 per share Eligible shareholders must have bought the stock before 28 May 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Swedish dividend payers (4.2%). Higher than average of industry peers (2.6%). Announcement • May 14
Zinzino AB (publ) (OM:ZZ B) acquired Assets from Xelliss S.a. for approximately €10 million. Zinzino AB (publ) (OM:ZZ B) acquired Assets from Xelliss S.a. for approximately €10 million on May 12, 2024. As consideration, Zinzino will pay a fixed purchase price of €2 million, divided into 50% cash and 50% newly issued Zinzino shares. In addition, conditional additional purchase prices based on sales development generated by the acquired distributor organization during the period 2024–2029 will apply. The total additional purchase prices are estimated to amount to €4 million, but could reach up to €8 million at maximum outcome and will be regulated entirely with newly issued Zinzino shares. The cash portion of the purchase price is financed with own cash. The acquisition of assets includes Xelliss's distributor organization, distributor database and associated customer register, as well as inventory and IP rights to the product lines. The operation, which had a turnover of approximately €8 million last year, is expected to generate strong growth through the synergies created in the joint networks. Zinzino AB (publ) (OM:ZZ B) completed the acquisition of Assets from Xelliss S.a. for approximately €10 million on May 12, 2024. Recent Insider Transactions Derivative • Apr 19
Independent Director exercised options to buy kr1.2m worth of stock. On the 16th of April, Anna Frick exercised options to buy 18k shares at a strike price of around kr56.00, costing a total of kr1m. As of today, Anna currently holds no shares directly. Company insiders have collectively bought kr1.9m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Apr 15
Independent Director recently bought kr182k worth of stock On the 9th of April, Staffan Esbjorn Hillberg bought around 2k shares on-market at roughly kr75.43 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr677k more in shares than they have sold in the last 12 months. Declared Dividend • Mar 07
Dividend of kr3.00 announced Shareholders will receive a dividend of kr3.00. Ex-date: 28th May 2024 Payment date: 3rd June 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (62% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased by an average of 41% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: kr4.83 (vs kr2.01 in FY 2022) Full year 2023 results: EPS: kr4.83 (up from kr2.01 in FY 2022). Revenue: kr1.77b (up 23% from FY 2022). Net income: kr163.7m (up 142% from FY 2022). Profit margin: 9.3% (up from 4.7% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Retail Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Feb 27
Zinzino AB (publ), Annual General Meeting, May 27, 2024 Zinzino AB (publ), Annual General Meeting, May 27, 2024, at 13:30 Central European Standard Time. Agenda: To consider the dividend. Announcement • Jan 29
Zinzino AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 10.422404 million. Zinzino AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 10.422404 million.
Security Name: B Shares
Security Type: Common Stock
Securities Offered: 149,468
Price\Range: SEK 69.73
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Jan 17
Independent Director recently sold kr139k worth of stock On the 11th of January, Staffan Esbjorn Hillberg sold around 2k shares on-market at roughly kr69.60 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr2.0m more than they sold in the last 12 months.