Tillkännagivande • Apr 08
Pierce Group AB (publ), Annual General Meeting, May 12, 2026 Pierce Group AB (publ), Annual General Meeting, May 12, 2026, at 10:00 W. Europe Standard Time. Location: engelbrektsplan 1, humlegarden fastigheter, entrance level, room: engelbrekt, stockholm Sweden Tillkännagivande • May 20
Pierce Group AB (Publ) Approves Board Changes Pierce Group AB (publ) announced that at its AGM held on May 20, 2025, the shareholders approved to elect Johannes Gadsbøll and Roger Sandberg as new ordinary board members. The board member Max Carlsén had declined re-election. Tillkännagivande • May 01
Pierce Group AB (publ) announced a financing transaction Pierce Group AB announced a private placement to issue Common Shares on April 30, 2025. The transaction has been approved by the board of directors of the company. Tillkännagivande • Apr 17
Pierce Group AB (publ), Annual General Meeting, May 20, 2025 Pierce Group AB (publ), Annual General Meeting, May 20, 2025, at 10:00 W. Europe Standard Time. Location: at the premises of setterwalls advokatbyra ab, at sturegatan 10, stockholm Sweden Reported Earnings • Nov 17
Third quarter 2024 earnings released: kr0.025 loss per share (vs kr0.77 loss in 3Q 2023) Third quarter 2024 results: kr0.025 loss per share (improved from kr0.77 loss in 3Q 2023). Revenue: kr365.0m (down 1.1% from 3Q 2023). Net loss: kr2.00m (loss narrowed 97% from 3Q 2023). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 16 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 25
Second quarter 2024 earnings released: EPS: kr0.18 (vs kr0.33 in 2Q 2023) Second quarter 2024 results: EPS: kr0.18 (down from kr0.33 in 2Q 2023). Revenue: kr456.0m (up 3.4% from 2Q 2023). Net income: kr14.0m (down 46% from 2Q 2023). Profit margin: 3.1% (down from 5.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 34 percentage points per year, which is a significant difference in performance. Board Change • Jun 02
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Director Thomas Schwarz is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • May 26
Independent Chairman recently bought €65k worth of stock On the 22nd of May, Henrik Theilbjørn bought around 77k shares on-market at roughly €0.84 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Henrik's only on-market trade for the last 12 months. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: kr0.32 (vs kr0.14 loss in 1Q 2023) First quarter 2024 results: EPS: kr0.32 (up from kr0.14 loss in 1Q 2023). Revenue: kr356.0m (up 3.2% from 1Q 2023). Net income: kr25.0m (up kr36.0m from 1Q 2023). Profit margin: 7.0% (up from net loss in 1Q 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 39 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 27
Full year 2023 earnings released: kr1.21 loss per share (vs kr0.98 loss in FY 2022) Full year 2023 results: kr1.21 loss per share (further deteriorated from kr0.98 loss in FY 2022). Revenue: kr1.54b (down 8.0% from FY 2022). Net loss: kr96.0m (loss widened 66% from FY 2022). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 21
Full year 2023 earnings released: kr1.21 loss per share (vs kr0.98 loss in FY 2022) Full year 2023 results: kr1.21 loss per share (further deteriorated from kr0.98 loss in FY 2022). Revenue: kr1.54b (down 8.0% from FY 2022). Net loss: kr96.0m (loss widened 66% from FY 2022). Revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Specialty Retail industry in Germany. Reported Earnings • Nov 19
Third quarter 2023 earnings released: kr0.77 loss per share (vs kr0.26 loss in 3Q 2022) Third quarter 2023 results: kr0.77 loss per share (further deteriorated from kr0.26 loss in 3Q 2022). Revenue: kr369.0m (down 1.1% from 3Q 2022). Net loss: kr61.0m (loss widened 205% from 3Q 2022). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Specialty Retail industry in Germany. Tillkännagivande • Nov 11
Pierce Group AB (publ), Annual General Meeting, May 17, 2024 Pierce Group AB (publ), Annual General Meeting, May 17, 2024. Tillkännagivande • Nov 08
Pierce Group AB (Publ) Announces CFO Changes, Effective as of 15 December 2023 Pierce Group AB (publ) has appointed Fredrik Ideström (currently Chief Strategy Officer) as Group Chief Financial Officer (CFO), because Niclas Olsson (current CFO) will be leaving for a new role. Following a handover period, the change will be effective as of 15 December 2023. Tillkännagivande • Oct 18
Pierce Group AB (publ) to Report Fiscal Year 2023 Results on Feb 20, 2024 Pierce Group AB (publ) announced that they will report fiscal year 2023 results at 8:00 AM, Central European Standard Time on Feb 20, 2024 Tillkännagivande • Oct 10
Pierce Group AB (Publ) Appoints Nomination Committee Pierce Group AB (publ) at its Annual General Meeting, appointed Nomination Committee. Following contacts made with the company's shareholders, the following representatives have been appointed: Jacob Wiström (Chairman), appointed by Verdane Capital XI Investments AB; Shu Sheng, appointed by Procuritas Capital Partners V LP; Staffan Östlin, appointed by Adrigo Small & Midcap L/S. Board Change • Sep 18
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Independent Board Member Mattias Feiff is the most experienced director on the board, commencing their role in 2014. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 27
Second quarter 2023 earnings released: EPS: kr0.33 (vs kr0.025 loss in 2Q 2022) Second quarter 2023 results: EPS: kr0.33 (up from kr0.025 loss in 2Q 2022). Revenue: kr441.0m (down 2.0% from 2Q 2022). Net income: kr26.0m (up kr27.0m from 2Q 2022). Profit margin: 5.9% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Specialty Retail industry in Germany. Tillkännagivande • Jun 09
Pierce Group AB (Publ) Announces CEO Changes with Effect from 12 June 2023 The Board of Directors has appointed Göran Dahlin as the new CEO of Pierce Group AB (publ), with effect from 12 June 2023. He will replace Willem Vos who has been acting CEO. The board of directors has appointed Göran Dahlin as the new CEO of Pierce Group AB (publ). Göran brings more than 20 years of managerial experience from product and distribution businesses. He comes most recently from a tenure as CEO of SGDS Gruppen AB, part of the Saint-Gobain Group, a leading distributor of construction material and supplies. Prior to this, Göran held various positions within BAHCO/SNA Europe including Marketing Director. Willem Vos will be available for a hand over to Göran for a short transition period. Buying Opportunity • May 25
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be €0.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.0% over the last year. Meanwhile, the company became loss making. Revenue is forecast to grow by 0.7% in a year. Earnings is forecast to grow by 75% in the next year. Board Change • May 24
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Independent Board Member Mattias Feiff is the most experienced director on the board, commencing their role in 2014. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 14
First quarter 2023 earnings released: kr0.14 loss per share (vs kr0.35 loss in 1Q 2022) First quarter 2023 results: kr0.14 loss per share (improved from kr0.35 loss in 1Q 2022). Revenue: kr345.0m (down 18% from 1Q 2022). Net loss: kr11.0m (loss narrowed 21% from 1Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Specialty Retail industry in Germany. Reported Earnings • Feb 18
Full year 2022 earnings released: kr0.98 loss per share (vs kr0.68 profit in FY 2021) Full year 2022 results: kr0.98 loss per share (down from kr0.68 profit in FY 2021). Revenue: kr1.67b (up 4.8% from FY 2021). Net loss: kr58.0m (down 323% from profit in FY 2021). Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Online Retail industry in Germany. Tillkännagivande • Dec 24
Pierce Group AB (publ) Appoints Niclas Olsson as CFO Pierce Group AB (publ) has been acting CFO of Pierce Group since 3 June 2022. His role as CFO is now made permanent as from and including 23 December 2022. Tillkännagivande • Dec 15
Pierce Group AB (Publ) Elects Max Carlsén as New Board Member Pierce Group AB (publ) announced that The meeting elected, in accordance with the Nomination Committee's proposal, Max Carlsén as new Board member. After the meeting, the Board of Directors of the company consists of Henrik Theilbjørn (Chairman), Gunilla Spongh, Mattias Feiff, Shu Sheng, Thomas Schwarz, Thomas Ekman and Max Carlsén. Tillkännagivande • Nov 24
Pierce Group AB (Publ) Announces CEO Changes Henrik Zadig resigns as CEO of Pierce Group AB (publ). After more than six years as CEO, Henrik Zadig has decided to leave Pierce to take on a senior role at CVC Capital Partners. The Board of Directors has appointed Willem Vos as interim CEO, with effect from December 1st 2022. Willem Vos has been the Chief Operating Officer of Pierce since 2017. Henrik Zadig will be available until the year-end and contribute to a smooth transition for Willem Vos. The Board of Directors has initiated the recruitment process for a permanent CEO. Reported Earnings • Nov 12
Third quarter 2022 earnings released: kr0.26 loss per share (vs kr0.025 loss in 3Q 2021) Third quarter 2022 results: kr0.26 loss per share (further deteriorated from kr0.025 loss in 3Q 2021). Revenue: kr373.0m (up 3.3% from 3Q 2021). Net loss: kr20.0m (loss widened kr19.0m from 3Q 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Online Retail industry in Germany. Reported Earnings • Aug 25
Second quarter 2022 earnings released: kr0.025 loss per share (vs kr0.53 profit in 2Q 2021) Second quarter 2022 results: kr0.025 loss per share (down from kr0.53 profit in 2Q 2021). Revenue: kr450.0m (flat on 2Q 2021). Net loss: kr1.00m (down 105% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 9.9%, compared to a 36% growth forecast for the Online Retail industry in Germany. Tillkännagivande • Aug 24
Pierce Group AB (publ) to Report Fiscal Year 2022 Results on Feb 17, 2023 Pierce Group AB (publ) announced that they will report fiscal year 2022 results on Feb 17, 2023 Tillkännagivande • Jun 07
Pierce Group Announces Demise of Tomas Ljunglöf, CFO Pierce Group announced that it is with great sadness that they informed that their CFO Tomas Ljunglöf has passed away following the traffic accident communicated by the company on June 3, 2022. Tillkännagivande • Jun 05
Pierce Group AB (publ) Announces Management Changes Pierce's CFO Tomas Ljunglöf has been involved in a traffic accident and is not expected to be on duty in the near future. The company has appointed Niclas Olsson, Head of Business Control and employed since 2017, as acting CFO during Tomas Ljunglöf's absence. Gunilla Spongh, Chairman of the company's Audit Committee and with extensive experience as CFO of listed companies, will assist the company in operational matters during Tomas Ljunglöf's absence. The company's assessment is that the business will not be affected by this. Tillkännagivande • Jun 04
Pierce Group AB (publ) Approves Executive Appointments Pierce Group AB (publ) at its AGM held on June 3, 2022 approved to elect Henrik Theilbjørn and Thomas Schwarz as new members of the Board, with Henrik Theilbjørn as Chairman. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment deteriorated over the past week After last week's 23% share price decline to €1.48, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Online Retail industry in Europe. Total loss to shareholders of 82% over the past year. Tillkännagivande • May 12
Pierce Group AB (publ) to Report ,2022 Results on Nov 11, 2022 Pierce Group AB (publ) announced that they will report , 2022 results on Nov 11, 2022 Reported Earnings • May 11
First quarter 2022 earnings released: kr0.35 loss per share (vs kr0.01 profit in 1Q 2021) First quarter 2022 results: kr0.35 loss per share (down from kr0.01 profit in 1Q 2021). Revenue: kr420.0m (up 14% from 1Q 2021). Net loss: kr14.0m (flat on 1Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 28% growth forecast for the industry in Germany. Board Change • Apr 29
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. 5 experienced directors. 1 highly experienced director. Independent Board Member Mattias Feiff was the last director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €2.73, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Online Retail industry in Europe. Reported Earnings • Feb 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr0.68 (up from kr0.03 loss in FY 2020). Revenue: kr1.59b (up 4.7% from FY 2020). Net income: kr26.0m (up kr27.0m from FY 2020). Profit margin: 1.6% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 15%, compared to a 45% growth forecast for the retail industry in Germany. Tillkännagivande • Feb 16
Pierce Group AB (publ) to Report First Half, 2022 Results on Aug 24, 2022 Pierce Group AB (publ) announced that they will report first half, 2022 results on Aug 24, 2022 Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment deteriorated over the past week After last week's 23% share price decline to €4.69, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 17x in the Online Retail industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €5.20 per share. Buying Opportunity • Jan 21
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 4.9%. The fair value is estimated to be kr7.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% per annum over the last 3 years. The company has become profitable over the last year. Reported Earnings • Nov 15
Third quarter 2021 earnings released: kr0.025 loss per share The company reported a soft third quarter result with weaker control over costs, although losses were stable and revenues were flat. Third quarter 2021 results: Revenue: kr361.0m (flat on 3Q 2020). Net loss: kr1.00m (flat on 3Q 2020).