Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €17.71, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 29x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 234% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €24.89 per share. Buy Or Sell Opportunity • Jun 03
Now 22% undervalued Over the last 90 days, the stock has risen 31% to €16.40. The fair value is estimated to be €20.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 95% in the next 2 years. Declared Dividend • May 20
Dividend of kr0.75 announced Shareholders will receive a dividend of kr0.75. Ex-date: 22nd May 2026 Payment date: 28th May 2026 Dividend yield will be 4.7%, which is higher than the industry average of 1.4%. Payout Ratios Payout ratio: 16%. Cash payout ratio: 18%. Tillkännagivande • Apr 21
Jan Andersson and Bengt-Arne Molin Does Not Stand for Re-Election as Board Members of MilDef Group AB (publ) MilDef Group AB (publ) announced that Jan Andersson and Bengt-Arne Molin have declined re-election as directors. Tillkännagivande • Apr 17
MilDef Provides Earnings Guidance for the First Quarter of 2026 MilDef provided earnings guidance for the first quarter of 2026. For the period, revenue amounts to approximately SEK 700 million (340), which corresponds to growth of approximately 106%. Operating profit (EBITA) is expected to be in the range of SEK 115 million to SEK 120 million (15.7), corresponding to an EBITA margin of approximately 17% (4.6). Tillkännagivande • Mar 18
Mildef Group AB (Publ) Announces Board Changes Mildef Group AB (Publ) announced that Jan Andersson and Bengt-Arne Molin have declined re-election as director. Tillkännagivande • Feb 06
MilDef Group AB (publ) announces Annual dividend, payable on May 28, 2026 MilDef Group AB (publ) announced Annual dividend of SEK 0.7500 per share payable on May 28, 2026, ex-date on May 22, 2026 and record date on May 25, 2026. Tillkännagivande • Nov 07
MilDef Group AB (publ), Annual General Meeting, May 21, 2026 MilDef Group AB (publ), Annual General Meeting, May 21, 2026. Location: helsingborg Sweden Tillkännagivande • Sep 20
MilDef Group AB (publ) (OM:MILDEF) announces an Equity Buyback for 20,000 shares, representing 0.04% of its issued share capital. MilDef Group AB (publ) (OM:MILDEF) commences share repurchases on September 18, 2025, under the program mandated by shareholders in the Annual General Meeting held on May 22, 2025. As per the mandate, the company is authorized to repurchase up to 20,000 shares, representing 0.04% of its issued share capital. The shares will be repurchased at a price within the share price interval applicable on Nasdaq Stockholm at that time, meaning the interval between the highest buying price and the lowest selling price published by Nasdaq Stockholm on an ongoing basis. The purpose of the program is to ensure delivery of shares to participants in LTIP 2025/2028. The authorization will be valid till next Annual General Meeting of the company. As of April 14, 2025, the company had 47,042,445 issued shares.
On September 16, 2025, the company announced a share repurchase program. Under the program, the company will repurchase up to 20,000 shares for SEK 5 million. As of September 16, 2025, the company had 47,114,895 issued shares and 0 treasury shares. Tillkännagivande • Aug 19
MilDef Takes Comprehensive Approach to the Data-Driven Defense At the global defense exhibition DSEI 2025 in London, September 9-12, MilDef will present the next generation of systems for a digitalized, data-driven defense - focusing on increased efficiency and connectivity, NATO interoperability, and future-proof technology. Among a wide range of rugged computers, servers, network products, tablets, displays, and specialized electronics for battlefield digitalization, MilDef will showcase the next generation of rugged displays and vehicle electronics based on GVA standards and video over ethernet technology. MilDefs solutions enable real-time data sharing, enhanced crew safety, and future-proof, modular upgrades - for superior operational efficiency in the harshest environments. From NVIS compatible displays to integrated sensor systems, MilDef demonstrate how connected, scalable architectures are shaping the future of military vehicles. Tillkännagivande • Jul 11
MilDef Group AB (publ) Provides Earnings Guidance for the Second Quarter of 2025 MilDef Group AB (publ) provided earnings guidance for the second quarter of 2025. The company's preliminary analysis shows that sales for the second quarter amount to just over SEK 380 million. Tillkännagivande • Apr 14
Mildef Group AB (Publ) Proposes Dividend, Expected to Be Distributed on 30 May 2025 MilDef Group AB (publ) proposed at its AGM held on 22 May 2025 that a dividend of SEK 0.50 per share be declared and that the record date for the dividend shall be 26 May 2025. If the AGM so resolves, the dividend is expected to be distributed by Euroclear Sweden AB on 30 May 2025. Tillkännagivande • Feb 07
MilDef Group AB (publ), Annual General Meeting, May 22, 2025 MilDef Group AB (publ), Annual General Meeting, May 22, 2025. Location: helsingborg Sweden Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: kr0.43 (vs kr0.15 in 3Q 2023) Third quarter 2024 results: EPS: kr0.43 (up from kr0.15 in 3Q 2023). Revenue: kr249.9m (up 10% from 3Q 2023). Net income: kr17.2m (up 197% from 3Q 2023). Profit margin: 6.9% (up from 2.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Oct 02
MilDef Group AB (publ) Launches Dismounted Soldier Concept Suite at AUSA, Engineered for Excellence in Every Mission MilDef Group AB (publ) launched its Dismounted Soldier System (DSS) to provide situational awareness and seamless interoperability across all environments. Experience the concept at the AUSA convention in Washington D.C. MilDef's suite for dismounted soldiers offers uncompromised durability and performance and is built on a range of hardware and software components that are not only rugged and durable but also highly adaptable to meet specific mission requirements. Whether it's extreme temperatures, rough terrains, or high-stress combat scenarios, the MilDef system is designed to serve in those conditions. Developed with input from mission experienced military commanders and soldiers, it's built to meet the demands of the toughest environments. components in the MilDef Dismounted Soldier System suite: Tactical Android Device, the T.A.D. End User Device - Rugged Android device (MIL-STD-810/IP67), 5G and WiFi 6 connectivity, support of multiple ethernet devices, >24h operating time, field replaceable battery, night vision etc. MilDef DSS HUB - 6-port USB 2.0 HUB with power management, 1 EUD port, 3 PAN ports, 2 power ports, STANAG 4695 /STANAG 4851 /Nett Warrior compliant connectors. OneCIS - Automated and rapid deployment and configuration of operating system, network configuration, applications, and services. MilDef has substantial experience from delivering tactical system solutions mounted in military platforms. MilDefs Dismounted Soldier System is a natural extension of MilDefs capabilities and offer, as when integrated with GFE (Government Furnished Equipment), existing systems and new technology, it delivers enhanced operational effectiveness and mission success - when and where the stakes are the highest. AUSA takes place October 14-16 Washington DC, Walter E. Washington Convention Center, booth 7941. New Risk • Aug 13
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 German stocks, typically moving 6.8% 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 (6.8% average weekly change). Profit margins are more than 30% lower than last year (3.9% net profit margin). Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to €6.35, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 22x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 21% over the past three years. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: kr0.58 (vs kr0.53 in 2Q 2023) Second quarter 2024 results: EPS: kr0.58 (up from kr0.53 in 2Q 2023). Revenue: kr301.5m (up 4.4% from 2Q 2023). Net income: kr23.3m (up 9.4% from 2Q 2023). Profit margin: 7.7% (up from 7.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jul 05
MilDef Group AB (publ) to Report Q4, 2024 Results on Feb 06, 2025 MilDef Group AB (publ) announced that they will report Q4, 2024 results on Feb 06, 2025 Tillkännagivande • May 24
MilDef Group AB (publ) Proposes Dividend for the Year 2023, Payable on May 30, 2024 MilDef Group AB (publ) announced that at its AGM held on May 23, 2024, the shareholders approved a dividend of SEK 0.50 per share be declared and that the record date for the dividend shall be May 27, 2024. Distribution of the dividend will be made by Euroclear Sweden AB on May 30, 2024. Upcoming Dividend • May 17
Upcoming dividend of kr0.50 per share Eligible shareholders must have bought the stock before 24 May 2024. Payment date: 30 May 2024. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (1.0%). Reported Earnings • Apr 28
First quarter 2024 earnings released: kr0.29 loss per share (vs kr0.41 profit in 1Q 2023) First quarter 2024 results: kr0.29 loss per share (down from kr0.41 profit in 1Q 2023). Revenue: kr231.9m (down 18% from 1Q 2023). Net loss: kr11.4m (down 170% from profit in 1Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in Germany. Tillkännagivande • Feb 12
MilDef Group AB (publ) to Report Q3, 2024 Results on Oct 25, 2024 MilDef Group AB (publ) announced that they will report Q3, 2024 results on Oct 25, 2024 Reported Earnings • Feb 09
Full year 2023 earnings released: EPS: kr1.73 (vs kr0.38 in FY 2022) Full year 2023 results: EPS: kr1.73 (up from kr0.38 in FY 2022). Revenue: kr1.15b (up 56% from FY 2022). Net income: kr69.0m (up 386% from FY 2022). Profit margin: 6.0% (up from 1.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Aerospace & Defense industry in Germany. Tillkännagivande • Nov 17
MilDef Group AB (publ) Announces Board Appointments MilDef Group AB (publ) announced the company's nomination committee consists of the following members: Johan Ståhl, appointed by Svolder AB (publ), Chair of the Nomination Committee; Peter Lundkvist, appointed by Tredje AP-fonden; Marianne Trolle, representing her own ownership in MilDef; Björn Karlsson, Chair of the Board in MilDef. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €5.36, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 20x in the Aerospace & Defense industry in Europe. Total loss to shareholders of 29% over the past year. Reported Earnings • Oct 28
Third quarter 2023 earnings released: EPS: kr0.15 (vs kr0.18 in 3Q 2022) Third quarter 2023 results: EPS: kr0.15 (down from kr0.18 in 3Q 2022). Revenue: kr226.5m (up 38% from 3Q 2022). Net income: kr5.80m (down 12% from 3Q 2022). Profit margin: 2.6% (down from 4.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Aerospace & Defense industry in Germany. Tillkännagivande • Sep 12
MilDef Launches New Panel PC Technology MilDef presents a newly developed Panel PC with a rapidly detachable computer module for the next level of operational flexibility. The unique combination of display and computer enables use of computers and displays in military operations. The system has been implemented on combat-ready platforms. MilDef's Panel PC integrates a ruggedized display and detachable computer into an "intelligent display". The resilient and space-efficient computer can be prepared for missions, plugged into the opened display before missions, and taken away after missions to analyze data. The unique feature is that the computer is extremely easy to quickly detach from the display, while both the computer module and the display section can be used standalone. The Panel PC has undergone rigorous testing for ruggedization and can withstand significant electromagnetic demands, whether in air, land or sea applications. The displays are available from 10 inches upwards, with HD and resilient multitouch. The display features NVIS backlighting with a dimmable touchscreen and configurable function keys for individualized settings. An on-screen display can be added for simplified display navigation. Tillkännagivande • Sep 08
MilDef Launches MilDef Tactical Android Device (T.A.D.) MilDef introduced the handheld MilDef Tactical Android Device (T.A.D.), redefining the Dismounted Soldier System (DSS). This innovative solution addresses challenges faced by military personnel, offering advanced technical features and durability for modern warfare. The MilDef T.A.D. is a rugged Android-based mobile device designed for military operations. With its open architecture and integration capabilities the MilDef T.A. D.A.D. opens for several deployment scenarios. The Mil Def T.A.D. has unique selling points that set it apart from conventional devices. The exchangeable battery ensures uninterrupted operation in extended missions, the night vision mode enhances soldier capabilities during low-light operations, and in line with MilDef's customer commitment, the MilDef T.A., follows the company's product life cycle of five years. The MilDef T. A.D. empowers users to select functionalities that suit their needs, elevating communication and decision-making. MilDef collaborates with clients to tailor the device to specific requirements. The company is also developing an ecosystem with complementary components, ensuring adaptability to evolving operational needs. Tillkännagivande • Sep 01
MilDef Launches New Brand Positioning Platform and Product Advancements at DSEI 2023 MilDef will showcase rugged IT solutions for the digitalized battlefield as well as a series of advancements. A new brand platform, WE ARMOR IT, will be inaugurated as well as a range of product news for the modern defense arena, such as panel PC technology, miniaturized computers and switches and software deployment at the Tactical edge. DSEI 2023, in the most significant and iteration of the show in its 24-year history, will tackle the theme of 'Achieving an Integrated Force'. Highlighting the pertinence of integrating across the five operational domains of Air, Cyber and lectromagnetic activities (CEMA), Land, Sea and Space. Among a wide array of rugged computers, servers, network products, tablets, displays and special electronics for modernizing the battlefield, MilDef in 2023 launch the next quantum leaps in technology advancements. For instance. The new generation of Panel PC technology, offering a significant advancement in rugged display, comprising a versatile ecosystem of detachable computers to be docked into screen modules. Launch of Android devices for Dismounted soldier systems. Newly developed miniseries of computers and switches. The launch of a brand new OneCIS battle station, presenting the unique software solution for rapid deployment of IT services at the Tactical Edge. Recent Insider Transactions • Aug 03
Chief Technology Officer recently sold €299k worth of stock On the 1st of August, Fredrik Persson sold around 40k shares on-market at roughly €7.47 per share. This transaction amounted to 7.4% 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 €5.3m. Insiders have been net sellers, collectively disposing of €6.1m more than they bought in the last 12 months. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: kr0.53 (vs kr0.36 loss in 2Q 2022) Second quarter 2023 results: EPS: kr0.53 (up from kr0.36 loss in 2Q 2022). Revenue: kr288.8m (up 144% from 2Q 2022). Net income: kr21.3m (up kr34.5m from 2Q 2022). Profit margin: 7.4% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Tillkännagivande • Jul 25
MilDef and UMS SKELDAR Launch Future-Ready Remote Pilot Station Console MilDef and UMS SKELDAR now launch a bespoke Remote Pilot Station (RPS) console that provides optimal workspace, functionality, and improved ergonomics for Unmanned Aircraft System (UAS) operators. MilDef has designed, developed, and manufactured a bespoke working pilot console for UMS SKELDAR's V-200 platform, who in turn will deliver the UAS and consoles for maritime defense forces. There is a significant demand for unmanned aerial vehicles in the defense sector. UMS SKELDAR's UASs are designed for various missions, including surveillance, reconnaissance, and electronic warfare. With MilDef's console the partners will provide the most ergonomically intuitive workspace for flight operators in terms of functionality. The console accommodates two operators - one for the Pilot in Command (PIC) and the other for the payload operator. The UMS SKELDAR V-200 is a medium-range Vertical Takeoff and Landing (VTOL) UAS that incorporates multiple sensors, an extensively proven heavy fuel engine and efficient maintenance procedures. UMS SKELDAR is a joint venture between Saab and UMS AERO Group, Europe's leading provider of remotely piloted aircraft systems, including the NATO-aligned rotary V-200 and the high-performance V-150 Unmanned Aircraft Systems. UMS SKELDAR provides total solutions to customers across the globe, including development, manufacture, testing, training, consulting, maintenance, and managed services. Tillkännagivande • Jun 13
Jim Rimay to Take the Leadership of All MilDef's Activities in the US, Starting July 2023 MilDef now accelerates US ambitions by consolidating MilDef Inc. and recently acquired Handheld operations, under one strong and focused unit. By doing so MilDef's total US footprint is doubled, and the product offering is substantially widened for increased reach into the military, government as well as the critical infrastructure domains. Jim Rimay, CEO Handheld US Inc, will take on the leadership of all MilDef's activities in the US, starting in July 2023. Jim Rimay has been the CEO of Handheld's operations in the US since 2015 and has a solid background in the defense-related IT industry, including as President of Getac in the US. The consolidated approach means that MilDef increases its business focus, doubles its footprint in the US market and that the synergies from the Handheld acquisition are being harvested in the group. Recent Insider Transactions • May 26
CEO & President recently sold €5.3m worth of stock On the 24th of May, Bjorn Karlsson sold around 900k shares on-market at roughly €5.90 per share. This transaction amounted to 50% 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 Bjorn's only on-market trade for the last 12 months. Reported Earnings • May 07
First quarter 2023 earnings released First quarter 2023 results: Revenue: kr283.2m (up 100% from 1Q 2022). Net income: kr16.3m (up kr16.0m from 1Q 2022). Profit margin: 5.8% (up from 0.2% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Tillkännagivande • Feb 18
Mildef Group AB Appoints Daniel Ljunggren as CEO, Effective Date May 26, 2023 MilDef Group AB (publ) announced the appointment of Daniel Ljunggren as Chief executive office, effective from May 26, 2023. Reported Earnings • Feb 10
Full year 2022 earnings released: EPS: kr0.38 (vs kr0.027 loss in FY 2021) Full year 2022 results: EPS: kr0.38 (up from kr0.027 loss in FY 2021). Revenue: kr738.8m (up 57% from FY 2021). Net income: kr14.2m (up kr14.9m from FY 2021). Profit margin: 1.9% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Tillkännagivande • Feb 01
MilDef Group AB (publ) to Report Q4, 2022 Results on Feb 09, 2023 MilDef Group AB (publ) announced that they will report Q4, 2022 results at 8:00 AM, Central European Standard Time on Feb 09, 2023 Board Change • Feb 01
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. 10 experienced directors. 1 highly experienced director. Independent Director Lennart Pihl was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jan 04
MilDef Group AB (publ)(OM:MILDEF) dropped from OMX Nordic Small Cap Index MilDef Group AB (publ) has been dropped from OMX Nordic Small Cap Index . Tillkännagivande • Nov 08
MilDef Group AB (publ) Announces CEO Changes Björn Karlsson has informed the Board that he wishes to step down as CEO of MilDef Group AB (publ) for personal reasons. In consultation with Björn, the board has decided that he will remain as CEO until the Annual General Meeting in May 2023 and that the company's deputy CEO and CFO Daniel Ljunggren will then provisionally take over as interim CEO. A group of major shareholders, in consultation with chair of the board Jan Andersson, has decided to propose Björn Karlsson to the nomination committee as the new chair of the board. Tillkännagivande • Nov 05
MilDef Group AB (publ), Annual General Meeting, May 25, 2023 MilDef Group AB (publ), Annual General Meeting, May 25, 2023. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: kr0.18 (vs kr0.039 in 3Q 2021) Third quarter 2022 results: EPS: kr0.18 (up from kr0.039 in 3Q 2021). Revenue: kr163.7m (up 20% from 3Q 2021). Net income: kr6.60m (up 371% from 3Q 2021). Profit margin: 4.0% (up from 1.0% in 3Q 2021). The increase in margin was driven by higher revenue. Tillkännagivande • Oct 03
MilDef Group AB (publ) to Showcase Its Full Scope of Hardware, Software and Services for Tactical IT and OneCIS at AUSA 2022 On October 10-12th MilDef Group AB (publ) will be exhibiting at AUSA, the Association of the U.S. Army's Annual Meeting and Exposition in Washington D.C.MilDef will showcase its full scope of hardware, software and services for Tactical IT. Also, for the first time at AUSA, MilDef will showcase OneCIS, a quantum leap in rapid deployment of IT services at the Tactical Edge. AUSA is the place to address top US and global military leaders on MilDef's cutting edge Tactical IT for continued transformation and digitalization of defense forces internationally. Among a wide array of computers, servers, tablets, displays and special electronics for modernizing the battlefield, MilDef presents the second generation of handheld robot controllers, RC 2100, as well as a SWaP-optimized mini ethernet switch. At AUSA 2022 MilDef will be announcing its US launch of the new solution for rapid deployment of IT services at the Tactical Edge, OneCIS. MilDef's OneCIS solution enables deployment of IT services to for instance mobile commands, tactical units and first responders. Tillkännagivande • Sep 22
MilDef Group AB (publ) (OM:MILDEF) acquired Handheld Group AB for SEK 350 million. MilDef Group AB (publ) (OM:MILDEF) entered into an agreement to acquire Handheld Group AB for SEK 350 million on September 12, 2022. The consideration will be paid in SEK 270 million in cash and is financed within the framework of existing credit facilities whilst the remaining SEK 80 million is paid with newly issued MilDef shares. With the aim of facilitating continued growth through strategic acquisitions, MilDef will explore potential forms of capital raising. Setterwalls Advokatbyrå Ab acted as legal advisor to Handheld Group AB.
MilDef Group AB (publ) (OM:MILDEF) completed the acquisition of Handheld Group AB on September 21, 2022. Tillkännagivande • Sep 14
MilDef Group AB (publ) announced that it expects to receive SEK 150 million in funding MilDef Group AB (publ) announced a private placement of SEK 150 million on September 13, 2022. The round will include participation from Swedish and international institutional investors. Tillkännagivande • Sep 13
MilDef Group AB (publ) (OM:MILDEF) entered into an agreement to acquire Handheld Group AB for SEK 350 million. MilDef Group AB (publ) (OM:MILDEF) entered into an agreement to acquire Handheld Group AB for SEK 350 million on September 12, 2022. The consideration will be paid in SEK 270 million in cash and is financed within the framework of existing credit facilities whilst the remaining SEK 80 million is paid with newly issued MilDef shares. With the aim of facilitating continued growth through strategic acquisitions, MilDef will explore potential forms of capital raising. Reported Earnings • Jul 29
Second quarter 2022 earnings released: kr0.36 loss per share (vs kr0.17 loss in 2Q 2021) Second quarter 2022 results: kr0.36 loss per share (down from kr0.17 loss in 2Q 2021). Revenue: kr118.5m (up 46% from 2Q 2021). Net loss: kr13.2m (loss widened 267% from 2Q 2021). Reported Earnings • Apr 27
Full year 2021 earnings released: kr0.027 loss per share (vs kr1.83 profit in FY 2020) Full year 2021 results: kr0.027 loss per share (down from kr1.83 profit in FY 2020). Revenue: kr469.6m (up 18% from FY 2020). Net loss: kr700.0k (down 102% from profit in FY 2020). Reported Earnings • Apr 24
Full year 2021 earnings released: kr0.027 loss per share (vs kr1.83 profit in FY 2020) Full year 2021 results: kr0.027 loss per share (down from kr1.83 profit in FY 2020). Revenue: kr469.6m (up 18% from FY 2020). Net loss: kr700.0k (down 102% from profit in FY 2020). Tillkännagivande • Apr 06
MilDef Group AB (publ) Proposes a Dividend, Payable on 19 May 2022 The Board of MilDef Group AB (publ) proposed that a dividend of SEK 0.75 per share be declared and that the record date for the dividend shall be 16 May 2022. If the AGM so resolves, the dividend is expected to be distributed by Euroclear Sweden AB on 19 May 2022. Recent Insider Transactions • Feb 17
Executive VP & CFO recently bought €96k worth of stock On the 14th of February, Daniel Ljunggren bought around 22k shares on-market at roughly €4.26 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Daniel has been a net seller over the last 12 months, reducing personal holdings by €1.9m. Recent Insider Transactions • Feb 17
Executive VP & CFO recently bought €96k worth of stock On the 14th of February, Daniel Ljunggren bought around 22k shares on-market at roughly €4.26 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Daniel has been a net seller over the last 12 months, reducing personal holdings by €1.9m. Reported Earnings • Feb 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: kr0.027 loss per share (down from kr1.83 profit in FY 2020). Revenue: kr469.6m (up 18% from FY 2020). Net loss: kr700.0k (down 102% from profit in FY 2020). Revenue was in line with analyst estimates. Tillkännagivande • Feb 10
MilDef Group AB (Publ) Proposes Unchanged Dividend The Board of Directors of MilDef Group AB (publ) proposed unchanged dividend of SEK 0.75 (SEK 0.75 adjusted for split 2:1). Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 20% share price gain to €4.36, the stock trades at a trailing P/E ratio of 48.9x. Average trailing P/E is 22x in the Aerospace & Defense industry in Europe. 
