Tillkännagivande • Jun 23
Minesto AB Approves Election of Philippe Kavafyan as Director Minesto AB at its AGM held on June 23, 2026, approved election of Philippe Kavafyan as new director. New Risk • May 25
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr38m This is considered a major 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: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr38m free cash flow). Share price has been highly volatile over the past 3 months (30% average weekly change). Earnings have declined by 9.8% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (26% increase in shares outstanding). Revenue is less than US$5m (kr22m revenue, or US$2.4m). Market cap is less than US$100m (€20.8m market cap, or US$24.2m). Tillkännagivande • May 22
Minesto AB (publ), Annual General Meeting, Jun 23, 2026 Minesto AB (publ), Annual General Meeting, Jun 23, 2026, at 09:00 W. Europe Standard Time. Location: hotel riverton, stora badhusgatan 26, gothenburg Sweden Tillkännagivande • Mar 18
Minesto Installs and Produces Electricity with Dragon 4 Powerplant in Faroe Islands Minesto’s microgrid scale powerplant Dragon 4 (100kW) is installed and produces electricity to the Faroese grid, generating valuable data for the upcoming microgrid installation partly funded by the Swedish Energy Agency. The Minesto tidal energy kite Dragon 12 (1.2 MW) has been successfully recovered after 10 months in the water in Vestmannasund. The unique megawatt Dragon is now on shore for inspection and maintenance. Minesto´s commercial microgrid scale powerplant, Dragon 4, is now installed and produces electricity to the Faroese grid. This work is a preparatory first step of the microgrid project partly funded by Swedish Energy Agency and in close collaboration with project partners including Faroese utility company Sev. The Dragon 12 power plant has been successfully recovered to shore in Vestmanna after a 10-month grid-connected period. Extensive inspections and evaluations of system status will be conducted. Initial conclusions show that the system condition is as expected with signs of wear and tear after withstanding ocean conditions and exceeding set service intervals. Operations will continue throughout spring and summer primarily to serve delivery of the microgrid project (“ETRIC”), and to accommodate study visits from international commercial partners. Picture below: The Minesto tidal energy kites Dragon 4 (100kW) and Dragon 12 (1.2 MW) at the quayside in Vestmanna, Faroe Islands. Pictures below: Screenshots from Minesto operator interface of Dragon 4. Tillkännagivande • Nov 01
Minesto AB (Publ) Announces Resignation of Git Sturesjö Adolfsson as Member of the Board Minesto AB (publ) announces 30 October 2025, that Board Member Git Sturesjö Adolfsson has decided to resign from the Company's Board of Directors at her own request. On 30 October 2025, Git Sturesjö Adolfsson resigned at her own request as a member of the Company's Board. Her resignation as a Board Member means that Deputy Board Member Andreas Gunnarsson will assume her position. Git remains on the Company's Nomination Committee as the representative of one of the Company's two largest shareholders by voting rights as of 30 September 2025. Tillkännagivande • Oct 29
Minesto AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 98.999999 million. Minesto AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 98.999999 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 53,513,513
Price\Range: SEK 1.85
Transaction Features: Rights Offering Tillkännagivande • Sep 18
Minesto AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 152.374501 million. Minesto AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 152.374501 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 82,364,595
Price\Range: SEK 1.85
Transaction Features: Rights Offering Tillkännagivande • Aug 11
Minesto AB (publ) to Report First Half, 2025 Results on Aug 14, 2025 Minesto AB (publ) announced that they will report first half, 2025 results on Aug 14, 2025 Tillkännagivande • Jun 29
Minesto-Led Consortium Receives SEK 25 Million Grant to Build A Tidal Energy Power Plant for Baseload Electricity Production to Microgrids Minesto AB (publ) has been awarded a total of SEK 25 Million grant funding from Swedish Energy Agency to build a complete microgrid installation in the Faroe Islands. Minesto collaborates with microgrid technology provider Capture Energy, Faroese utility company Sev and IVL Swedish Environmental Research Institute to demonstrate a unique tidal-based microgrid solution that provides baseload power. The project is built on a partnership with technology leader in microgrid management Capture Energy. By integrating Minesto’s tidal power plants with Capture Energy’s microgrid capability, a significant global market for autonomous power plants and island-mode grid can be accessed. Minesto’s existing customer Sev will play a key role in the project as an advanced user of microgrids and on feasibility work related to local commercial installations to come. IVL Swedish Environmental Research Institute, will provide expert analysis on the environmental footprint of the solution. The total consortium project budget over two years is 56 MSEK, whereof 25 MSEK is grant funding from Swedish Energy Agency. The project will deliver a complete product offer for a microgrid installation with integrated battery storage to offer a stand-alone base-load power plant to an island mode user. The microgrid offer addresses the global market for clean, reliable, and affordable renewable energy for remote and off-grid customers that are currently dependent on fossil fuels or have a shortage of electricity supply. Tillkännagivande • Jun 18
Minesto AB (publ) announced that it has received SEK 22 million in funding Minesto AB (publ), announced that it has received SEK 22 million in a round of funding on June 18, 2025. The transaction included participation from new lender Fenja Capital Partners A/S. The loan is considered to be raised on market terms and has a set-up fee of 4% of the total loan amount as well as a monthly interest rate of 1%. The loan shall be repaid in full at the latest on 30 December 2025. Tillkännagivande • Jun 12
Minesto's Tidal Power Plant Dragon 12 in Operation Reaching Key Production Performance Milestone Minesto announced that its Dragon 12 tidal energy system (Luna), installed in Vestmannasund, Faroe Islands, has met a major production performance milestone: the longer tether enables a 25% increase of power performance. This strengthens the company's path toward commercial-scale deployment of its unique tidal kite technology. Following the recent upgrade and installation of the Dragon 12 (Luna) mid-May, Minesto concludes that the system has met performance expectations as simulations predict. Most significantly, based on a 10 meter longer tether, the power performance increase is around 25% relative earlier testing. This is expected from computer simulation predictions. These results further validate production volumes used in Minesto's business cases for commercial buildout in the Faroe Islands. In addition to Dragon 12 showcasing technical performance, the production site in Vestmanna continues to serve as a live demonstration platform. Recent visits from utility partners, energy ministries, and potential commercial customers have further positioned the site as a central reference case in the global marine energy landscape. Tillkännagivande • May 23
Minesto AB (publ), Annual General Meeting, May 22, 2025 Minesto AB (publ), Annual General Meeting, May 22, 2025. Location: at hotel riverton, at badhusgatan 26, gothenburg Sweden Tillkännagivande • May 21
Minesto Continues Operation and Testing Activities in Vestmanna, Faroe Islands Minesto continues operation and testing activities in Vestmanna, Faroe Islands. The Dragon 12 megawatt tidal kite "Luna" is in electricity production, following an upgrade period most prominently including a longer tether. The Dragon 12 "Luna" is installed in Vestmannasund, Faroe Islands, producing electricity to grid with an extended tether configuration. Electricity production combined with a range of study visits from customers and other stakeholders make Vestmanna to the centre of attention for Minesto. Tillkännagivande • May 02
Minesto Features in Internationally Broadcast Documentary, Engineering Tomorrow Minesto features in a new internationally broadcast documentary series 'Engineering Tomorrow'. Minesto's pioneering underwater kite technology is showcased in the 'Ocean Power' episode, selected as one of a few tidal energy technologies to be showcased. From SVT Play - "The ocean's tide could provide a fifth of the world's electricity, and tidal power is more reliable than solar or wind power. But the harsh conditions make it difficult to use machines. Some visionaries have created extraordinary inventions, from an underwater kite to a ship equipped with large rotor blades. If successful, these machines could provide clean, reliable energy to coastal communities around the world". Tillkännagivande • Apr 28
Minesto AB (publ) to Report Q1, 2025 Results on Apr 30, 2025 Minesto AB (publ) announced that they will report Q1, 2025 results at 8:30 AM, Central European Standard Time on Apr 30, 2025 Tillkännagivande • Feb 20
Minesto AB (publ) to Report Fiscal Year 2024 Results on Feb 27, 2025 Minesto AB (publ) announced that they will report fiscal year 2024 results at 8:30 AM, Central European Standard Time on Feb 27, 2025 Breakeven Date Change • Dec 30
Forecast to breakeven in 2025 The analyst covering Minesto expects the company to break even for the first time. New forecast suggests the company will make a profit of kr55.0m in 2025. Average annual earnings growth of 199% is required to achieve expected profit on schedule. Reported Earnings • Oct 25
Third quarter 2024 earnings released: kr0.05 loss per share (vs kr0.054 loss in 3Q 2023) Third quarter 2024 results: kr0.05 loss per share. Net loss: kr9.59m (loss widened 11% from 3Q 2023). Revenue is forecast to grow 150% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Electrical industry in Germany. Reported Earnings • Aug 23
Second quarter 2024 earnings released: kr0.061 loss per share (vs kr0.026 loss in 2Q 2023) Second quarter 2024 results: kr0.061 loss per share (further deteriorated from kr0.026 loss in 2Q 2023). Net loss: kr11.6m (loss widened 179% from 2Q 2023). Revenue is forecast to grow 129% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. Tillkännagivande • May 23
Minesto Announces Retirement of Bengt Adolfsson as Member of Board After thirteen years as a member of the board, and four years as Chairman of Minesto, illustriousinvestor Bengt Adolfsson, has decided to retire. Git Sturesjö Adolfsson, as the CEO of BGA Invest, remains on the board and continues to actively contribute to Minesto's development and success. Bengt Adolfsson has been a main driver in focusing board work and strategy discussions on customers and commercial partners. Mr. Adolfsson's strong track record of growing businesses also includes transforming Hilding Anders Group from a small-scale local business into today's leading global bedding and mattress group with a billion-dollar turnover. With a long and successful career, Bengt Adolfsson has decided to retire at the age of 75. Reported Earnings • Apr 26
First quarter 2024 earnings released: kr0.07 loss per share (vs kr0.04 loss in 1Q 2023) First quarter 2024 results: kr0.07 loss per share (further deteriorated from kr0.04 loss in 1Q 2023). Net loss: kr11.6m (loss widened 105% from 1Q 2023). Revenue is forecast to grow 109% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has fallen by 56% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Apr 17
Minesto AB (publ) Announces Bengt Adolfsson Declines Re-Election as Director Minesto AB (publ) announced that at the AGM to be held on 22 May 2024, Bengt Adolfsson has declined re-election as director. New Risk • Apr 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-kr117m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Revenue is less than US$5m (kr42m revenue, or US$3.9m). Market cap is less than US$100m (€40.9m market cap, or US$44.3m). Tillkännagivande • Apr 04
Minesto AB (publ) has completed a Composite Units Offering in the amount of SEK 100.150038 million. Minesto AB (publ) has completed a Composite Units Offering in the amount of SEK 100.150038 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 11,127,782
Price\Range: SEK 9
Transaction Features: Rights Offering Reported Earnings • Feb 27
Full year 2023 earnings released: kr0.17 loss per share (vs kr0.61 loss in FY 2022) Full year 2023 results: kr0.17 loss per share (improved from kr0.61 loss in FY 2022). Revenue: kr45.6m (up 6.5% from FY 2022). Net loss: kr27.1m (loss narrowed 68% from FY 2022). Revenue is forecast to grow 91% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 44% per year, which means it has not declined as severely as earnings. Tillkännagivande • Feb 22
Minesto AB (publ) Announces Dragon 12 Functionality Verified and Power Production Performance Completes Completion Minesto AB (publ) announced that it has been successfully verified in its first phase of operation. Given the stable system behaviour, Minesto concludes the technology risks of scale-up have been significantly reduced. The Minesto 1.2 MW tidal powerplant - Dragon 12 - has since installation two weeks ago delivered as expected during its first phase of operation at its grid-connected mono-pile seabed foundation in Vestmannasund, Faroe Islands. Building on experience from Dragon 4 (the smaller 100kW system), control capacity and simulation environments, all core operating functions such as starting, turning with the tidal flow and electricity generation have been successfully verified in the initial testing. The Dragon 12 has been generating and flying in its 8-shaped trajectory with an outer dimension of 70 meters at an average flight depth of 50 meters all as stipulated by the control system. The powerplant is monitored and controlled remotely by Minesto and interfaced with the grid management system at SEV's main control room in Torshavn. Dragon 12 is powerful and designed to create large forces, making it sound to push and fine tune the system stepwise to manage and control these forces optimally. The system is responding as predicted, creating a solid base for the coming activities which will focus on dialing in various settings in the Dragon 12 control system. Tillkännagivande • Feb 08
The Swedish Energy Agency Awards Minesto a SEK 2.8 Million Grant to Support Development and Testing of Next Generation Mooring System The Swedish Energy Agency has awarded Minesto a SEK 2.8 million grant to support development and testing of next generation mooring system. The grant co-funds a project through which Minesto will advance performance of the unique tether system that moors the powerplant to the seabed. Minesto has been awarded funding by the Swedish Energy Agency to continue optimization of tethering solutions to further leverage reliability and performance of this core system. New Risk • Jan 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €90.6m (US$98.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr103m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Revenue is less than US$5m (kr44m revenue, or US$4.2m). Market cap is less than US$100m (€90.6m market cap, or US$98.3m). Tillkännagivande • Jan 11
Minesto Has Successfully Executed the Launch & Recovery Method (LARS) for the First Megawatt Tidal Kite Dragon 12 Minesto has successfully executed the Launch & Recovery method (LARS) for the first megawatt tidal kite Dragon 12 (1.2 MW, 25 tons). The operations developed for the Dragon 4 (100kW, 2.5 tons) were proven equally effective with the large-scale kites utilizing the same small work vessel. The commissioning of the Launch and Recovery System (LARS) of the Dragon 12 has been successfully completed. The scale-up of the powerplant has not required changes in the smaller Dragon 4 kite operation for launch and recovery when applied to the Dragon 12. The D12 is ten times heavier, three times larger, uses a longer tether and is installed at larger water depth. These changes in the kite parameters proved to be fully manageable with the existing LARS method, thus verifying both technical method and assessments of operating costs. The launch and recovery were respectively done in less than 2 hours elapsed time. The commissioning of the Dragon 12 continues at site leading to the goal of electricity production. Operations of the smaller Dragon 4 power-plants will continue in parallel. Reported Earnings • Oct 20
Third quarter 2023 earnings released: kr0.034 loss per share (vs kr0.034 loss in 3Q 2022) Third quarter 2023 results: kr0.034 loss per share (in line with 3Q 2022). Revenue: kr11.9m (down 1.3% from 3Q 2022). Net loss: kr6.85m (loss widened 65% from 3Q 2022). Revenue is forecast to grow 93% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has fallen by 49% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Aug 23
Minesto Completes Build and Functional Testing of Sea-Bed Connection System for the 1.2-Megawatt Powerplant Dragon 12 Minesto has completed build and functional testing of sea-bed connection system for the 1.2-Megawatt power plant Dragon 12. The unique connection system, enabling one of the fastest launch and recovery operation in marine energy by "one-stab" operation, is now ready for installation. The Dragon 12 connection system is a scale-up and further enhancement of Minesto's unique and verified LARS (Launch & Recovery System) technology, a principle applied and proven by Minesto since 2020. The system is remotely operated and controlled from the surface vessel by lowering the LARS frame attached to the male connector into the female connector in the foundation. In the bottom joint, the power, data and strength connections are all combined. The process is cost-effective and safe: solely monitored by cameras on the frame, no diver, or Remotely Operated Vehicle (ROV) support is required. The Dragon 12 kite installation will utilise the system to enable a fast launch by towing with a small work boat and "one-stab" connection. Tillkännagivande • Aug 18
Minesto AB (publ) to Report Fiscal Year 2023 Results on Mar 21, 2024 Minesto AB (publ) announced that they will report fiscal year 2023 results on Mar 21, 2024 Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr12.3m (up 14% from 2Q 2022). Net loss: kr4.14m (flat on 2Q 2022). Revenue is forecast to grow 85% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Electrical industry in Germany. Reported Earnings • Apr 21
First quarter 2023 earnings released: kr0.04 loss per share (vs kr0.03 loss in 1Q 2022) First quarter 2023 results: kr0.04 loss per share (further deteriorated from kr0.03 loss in 1Q 2022). Revenue: kr12.7m (up 14% from 1Q 2022). Net loss: kr5.64m (loss widened 57% from 1Q 2022). Revenue is forecast to grow 77% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 26
Full year 2022 earnings released: kr0.61 loss per share (vs kr0.11 loss in FY 2021) Full year 2022 results: kr0.61 loss per share (further deteriorated from kr0.11 loss in FY 2021). Revenue: kr45.7m (up 18% from FY 2021). Net loss: kr84.4m (loss widened 466% from FY 2021). Revenue is forecast to grow 70% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Tillkännagivande • Nov 23
Development on Minesto AB (publ)'s Dragon Class Project - New Record-Levels of Electricity Production Minesto AB (publ)’s microgrid power plant Dragon 4 (100 kW) has produced record-levels of electricity in October and November. A second foundation will now be installed, to run a mini array with two Dragon 4 units operating in parallel. The development of Minesto’s utility-scale power plant Dragon 12 (1.2 MW) is also making significant progress. Installation of the Dragon 12 is now scheduled for spring 2023. Since its successful commissioning in September, the second Dragon 4 unit has been producing electricity throughout October and November, and has delivered record-breaking results in terms of total electricity generated, peak performance, and energy conversion at large. To enable a mini array of both systems in parallel, a second foundation is to be installed as soon as weather conditions allow. The installation of the second site infrastructure is expected to be in December. Development of the Dragon 12 is making significant progress. Despite extended lead times for certain components, factory acceptance testing of critical subsystems is ongoing with several of the tests completed. The installation of the Dragon 12 is now scheduled for spring 2023. Board Change • Nov 16
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. 4 highly experienced directors. Independent Chairman of the Board Jonas Millqvist was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Nov 02
Forecast to breakeven in 2023 The analyst covering Minesto expects the company to break even for the first time. New forecast suggests the company will make a profit of kr73.4m in 2023. Average annual earnings growth of 230% is required to achieve expected profit on schedule. Reported Earnings • Oct 21
Third quarter 2022 earnings released: kr0.034 loss per share (vs kr0.022 loss in 3Q 2021) Third quarter 2022 results: kr0.034 loss per share (further deteriorated from kr0.022 loss in 3Q 2021). Revenue: kr12.0m (up 6.2% from 3Q 2021). Net loss: kr4.14m (loss widened 30% from 3Q 2021). Revenue is forecast to grow 139% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electrical industry in Germany. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: Net loss: kr4.13m (flat on 2Q 2021). Over the next year, revenue is forecast to grow 690%, compared to a 17% growth forecast for the Electrical industry in Germany. Board Change • Apr 27
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. 4 highly experienced directors. Independent Chairman of the Board Jonas Millqvist was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: kr0.11 loss per share (down from kr0.10 loss in FY 2020). Net loss: kr14.9m (loss widened 12% from FY 2020). Revenue missed analyst estimates by 53%. Over the next year, revenue is forecast to grow 345%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 10% per year. Board Change • Dec 06
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. 4 highly experienced directors. Independent Chairman of the Board Jonas Millqvist was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 22
Third quarter 2021 earnings released: kr0.022 loss per share (vs kr0.018 loss in 3Q 2020) Third quarter 2021 results: Net loss: kr3.19m (loss widened 30% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Breakeven Date Change • Sep 23
Forecast to breakeven in 2023 The analyst covering Minesto expects the company to break even for the first time. New forecast suggests the company will make a profit of kr73.4m in 2023. Average annual earnings growth of 121% is required to achieve expected profit on schedule. Tillkännagivande • Sep 21
Minesto Launches Dragon Class Power Plants for Commercial Scale-Up Minesto introduces a new range of power plants the Dragon Class - an upgraded design of the company's Deep Green technology for predictable renewable electricity generation from tidal and ocean currents. Featuring increased performance and decreased manufacturing costs, the Dragon Class will be delivered and installed in all of Minesto's ongoing projects as well as in the build-out of the company's first array projects. Using extensive CFD (Computational Fluid Dynamics) modelling, ocean scale model testing and operational data from the grid-connected DG100 units in Vestmannasund, Minesto's technology development team has been able to improve the energy conversion and at the same time refine the power plant by reducing the number of power plant subsystems and components. With the Dragon Class Minesto also strengthens its patent portfolio as innovations related to the upgraded design have resulted in new patent applications. The Dragon Class design scales effectively and will thus be available in different sizes and rated power tailored for maximum yield depending on site conditions such as water flow rate and depth. Reported Earnings • Aug 21
Second quarter 2021 earnings released: kr0.028 loss per share (vs kr0.033 loss in 2Q 2020) Second quarter 2021 results: Net loss: kr4.12m (loss narrowed 18% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Reported Earnings • Apr 24
First quarter 2021 earnings released: kr0.02 loss per share (vs kr0.02 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: kr10.5m (down 12% from 1Q 2020). Net loss: kr2.25m (loss widened 19% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 110% per year, which means it is well ahead of earnings. Reported Earnings • Mar 19
Full year 2020 earnings released: kr0.10 loss per share (vs kr0.92 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: kr44.0m (up 23% from FY 2019). Net loss: kr13.3m (loss narrowed 87% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 68% per year but the company’s share price has increased by 113% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 24
Minesto and Technia Take Design Collaboration Global with 3Dexperience TECHNIA announced that they have been strategically engaged by Minesto. Minesto has since established projects in Europe and Asia to enable the commercial roll-out of the company's unique renewable energy technology. The partnership with TECHNIA furthers Minesto's ambition of global, sustainable energy generation. Under the business agreement, TECHNIA will consult, deploy and support seamless design collaboration with Dassault Systemes' ENOVIA solutions on the 3DEXPERIENCE platform. Is New 90 Day High Low • Feb 18
New 90-day low: €2.09 The company is down 23% from its price of €2.71 on 19 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 32% over the same period. Is New 90 Day High Low • Jan 28
New 90-day low: €2.25 The company is down 12% from its price of €2.57 on 30 October 2020. The German market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 54% over the same period. Is New 90 Day High Low • Dec 16
New 90-day low: €2.26 The company is down 19% from its price of €2.80 on 17 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 18% over the same period. Tillkännagivande • Dec 03
Minesto Installs and Commences Commissioning Activities of its 100kW DG100 Tidal Kite System in October Minesto installed and commenced commissioning activities of its 100kW DG100 tidal kite system in October. The DG100 system consists of the kite, tether, and the bottom joint. The bottom joint provides a pivoting connection point with the foundation, allowing the kite to fly freely in its optimised figure-of-eight trajectory. The DG100 commissioning progress means that Minesto now has initiated the process of generating renewable electricity from the tidal flows in Vestmannasund, using the Deep Green technology's unique principle of enhancing the speed of the kite through the water to power homes connected to the Faroese grid. Minesto and SEV have entered into a collaboration agreement to integrate tidal energy through Minesto's Deep Green technology in the Faroe Islands. First step is the installation and operation of two grid connected DG100 systems in the Vestmannasund strait. Minesto's DG100 is a product for microgrids, targeting the off-grid and remote locations market both in the Faroe Islands and worldwide. After demonstrating the DG100 system in Vestmannasund, the joint ambition of SEV and Minesto is a large-scale buildout of both microgrid (<250kW) and utility-scale (>1MW) Deep Green systems in the Faroe Islands. The long-term ambition is to make tidal energy a core energy source in the Faroe grid mix, to support the country's policy goal of satisfying the entire electricity need with renewable energy by 2030, including onshore transport and heating. Is New 90 Day High Low • Nov 24
New 90-day low: €2.55 The company is down 16% from its price of €3.04 on 26 August 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 15% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: €2.58 The company is down 11% from its price of €2.90 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 14% over the same period. Reported Earnings • Oct 24
Third quarter earnings released Over the last 12 months the company has reported total losses of kr98.4m, with losses widening by 71% from the prior year. Total revenue was kr40.3m over the last 12 months, up 13% from the prior year. Tillkännagivande • Aug 20
Minesto AB (publ) to Report Fiscal Year 2020 Results on Mar 18, 2021 Minesto AB (publ) announced that they will report fiscal year 2020 results on Mar 18, 2021 
