Tillkännagivande • Jun 05
Enea AB Announces Chief Financial Officer Changes Enea AB announced the appointment of Sophie Reinius as Chief Financial Officer. She will join the company in the fourth quarter of 2026 and succeed Ulf Stigberg, who has decided to step down. Sophie Reinius holds a Bachelor of Science in Finance and a Master of Laws and brings more than 20 years of experience from large international technology companies. She currently serves as CFO and Acting CEO of Formpipe. Prior to that, she was Group CFO of Arelion and Coromatic Group, and CFO of Net4Mobility. She has also held various positions at Microsoft, Philips and Schneider Electric. Ulf Stigberg will remain in the role of CFO until Sophie Reinius assumes the position. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Asa Schwarz was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Apr 20
Enea AB (publ) to Report Fiscal Year 2026 Results on Feb 04, 2027 Enea AB (publ) announced that they will report fiscal year 2026 results on Feb 04, 2027 Tillkännagivande • Mar 19
Enea AB (publ), Annual General Meeting, May 07, 2026 Enea AB (publ), Annual General Meeting, May 07, 2026. Tillkännagivande • Jan 08
Enea AB (publ) to Report Fiscal Year 2025 Final Results on Apr 15, 2026 Enea AB (publ) announced that they will report fiscal year 2025 final results at 9:00 AM, Central European Standard Time on Apr 15, 2026 Tillkännagivande • Jul 29
Enea AB (publ) (OM:ENEA) commences an Equity Buyback Plan for 452,264 shares, representing 2.3% of its issued share capital, under the authorization approved on May 6, 2025. Enea AB (publ) (OM:ENEA) commences share repurchases on May 6, 2025, under the program mandated by the shareholders in the Annual General Meeting held on July 21, 2025. As per the mandate, the company is authorized to repurchase up to 452,264 ordinary shares, representing 2.30% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time. The purpose of the authorizations above to acquire and transfer ordinary shares, including any deviation from the shareholders’ preferential rights in connection with transfer, is to continuously be able to adjust the capital structure of the Company to the capital needs of the Company, to enable financing, in whole or in part, in connection with acquisitions of businesses and for financing and/or securing delivery of ordinary shares in long-term incentive programs. The share repurchase program will expire at the company’s next Annual General Meeting 2026. As of April 2, 2025, the company had 21,202.484 shares in issue and 1,516,349 shares in treasury.
On July 15, 2025, the company announced a share repurchase program. Under the program, the company will repurchase SEK 50 million worth of its shares. The purpose of the repurchase program is to enable the company to adapt its capital structure to its capital needs over time, and thereby contribute to an increased shareholder value. Repurchase may take place during the period from and July 21, 2025, to Annual General Meeting in 2025. Tillkännagivande • Apr 24
Enea AB (publ) to Report Q2, 2025 Results on Jul 16, 2025 Enea AB (publ) announced that they will report Q2, 2025 results on Jul 16, 2025 Tillkännagivande • Apr 04
Enea AB (publ) to Report Q1, 2025 Results on Apr 24, 2025 Enea AB (publ) announced that they will report Q1, 2025 results at 7:20 AM, Central European Standard Time on Apr 24, 2025 Tillkännagivande • Apr 03
Enea AB (publ), Annual General Meeting, May 06, 2025 Enea AB (publ), Annual General Meeting, May 06, 2025, at 16:30 W. Europe Standard Time. Location: at victoria towers, arne beurlings torg 3 in kista, stockholm Sweden Tillkännagivande • Nov 07
Enea AB (publ) Announces Resignation of Mats Lindoff as Board Member Enea AB (publ) announced that the board member Mats Lindoff is resigning from the Board of Directors at his own request effective immediately. He is resigning for personal reasons. According to Enea’s articles of association, the Board of Directors should have at least five and not more than seven members. After Mats Lindoff has left the Board of Directors, it will have six members pursuant to the articles of association. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: kr0.18 (vs kr0.95 in 3Q 2023) Third quarter 2024 results: EPS: kr0.18 (down from kr0.95 in 3Q 2023). Revenue: kr217.1m (flat on 3Q 2023). Net income: kr3.70m (down 82% from 3Q 2023). Profit margin: 1.7% (down from 9.5% in 3Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the IT industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. New Risk • Oct 01
New major risk - Revenue and earnings growth Earnings have declined by 53% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 53% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Buy Or Sell Opportunity • Jul 22
Now 23% undervalued Over the last 90 days, the stock has risen 75% to €7.04. The fair value is estimated to be €9.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 6.5% in the next 2 years. Reported Earnings • Jul 19
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr239.4m (up 15% from 2Q 2023). Net income: kr34.0m (up kr654.0m from 2Q 2023). Profit margin: 14% (up from net loss in 2Q 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the IT industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Board Change • May 17
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Åsa Schwarz was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Tillkännagivande • May 01
Enea AB (publ) to Report Fiscal Year 2024 Results on Jan 30, 2025 Enea AB (publ) announced that they will report fiscal year 2024 results on Jan 30, 2025 Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: kr0.53 (vs kr1.67 in 1Q 2023) First quarter 2024 results: EPS: kr0.53 (down from kr1.67 in 1Q 2023). Revenue: kr206.0m (down 17% from 1Q 2023). Net income: kr10.6m (down 71% from 1Q 2023). Profit margin: 5.1% (down from 14% in 1Q 2023). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the IT industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 21
Full year 2023 earnings released: kr25.80 loss per share (vs kr5.05 profit in FY 2022) Full year 2023 results: kr25.80 loss per share (down from kr5.05 profit in FY 2022). Revenue: kr913.0m (down 1.6% from FY 2022). Net loss: kr550.7m (down kr659.7m from profit in FY 2022). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the IT industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 49% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 49% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€91.9m market cap, or US$98.9m). Tillkännagivande • Mar 21
Enea AB (publ) Appoints Osvaldo Aldao as Chief Product and Technology Officer Enea AB (publ) appointed Osvaldo Aldao as Chief Product and Technology Officer, who brings more than 25 years of experience working with communications service providers in Latin America, Europe and Asia, from senior leadership roles in sales and product management at Enea and Ericsson. Osvaldo Aldao has more than 25 years’ international experience in the telecoms industry, having held senior global positions in sales, product management and technology development in Europe and Latin America. Prior to this appointment, Osvaldo was VP Product Management at Enea since 2021, and his previous positions at Ericsson included Head of Portfolio, Communications Services, Head of IoT Accelerator and Head of Sales Support. Osvaldo holds a Masters of Science in Telecommunications and Electronic Engineering from the Institute of Technology, Buenos Aires, Argentina. Reported Earnings • Feb 03
Full year 2023 earnings released: kr25.85 loss per share (vs kr5.05 profit in FY 2022) Full year 2023 results: kr25.85 loss per share (down from kr5.05 profit in FY 2022). Revenue: kr934.6m (flat on FY 2022). Net loss: kr550.7m (down kr659.7m from profit in FY 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Tillkännagivande • Dec 20
Enea Appoints Ulf Stigberg as CFO Enea announced that Ulf Stigberg has been appointed Chief Financial Officer. He has been acting CFO since July 19 this year when previous CFO Ola Burmark left to seek new endeavors outside Enea. Ulf has more than 25 years of experience in the telecom-industry, and was CFO and co-founder of Aptilo which was acquired by Enea in 2020. New Risk • Oct 31
New major risk - Revenue and earnings growth Earnings have declined by 37% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (€84.4m market cap, or US$89.2m). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: kr0.95 (vs kr1.69 in 3Q 2022) Third quarter 2023 results: EPS: kr0.95 (down from kr1.69 in 3Q 2022). Revenue: kr220.6m (down 3.8% from 3Q 2022). Net income: kr20.4m (down 44% from 3Q 2022). Profit margin: 9.2% (down from 16% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the IT industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Sep 13
Acting President & CEO recently bought €170k worth of stock On the 6th of September, Anders Lidbeck bought around 45k shares on-market at roughly €3.81 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Recent Insider Transactions • Jul 28
Independent Chairman recently bought €41k worth of stock On the 19th of July, Kjell Duveblad bought around 10k shares on-market at roughly €4.06 per share. This transaction increased Kjell's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Kjell's only on-market trade for the last 12 months. Tillkännagivande • Jul 25
Enea AB (publ) (OM:ENEA) commences an Equity Buyback Plan for 2,148,571 shares, representing 9.83% of its issued share capital, under the authorization approved on May 4, 2023. Enea AB (publ) (OM:ENEA) commences share repurchases on July 19, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 4, 2023. As per the mandate, the company is authorized to repurchase up to 2,148,571 ordinary shares, representing 9.83% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time. The purpose of the authorizations above to acquire and transfer ordinary shares, including any deviation from the shareholders’ preferential rights in connection with transfer, is to continuously be able to adjust the capital structure of the Company to the capital needs of the Company, to enable financing, in whole or in part, in connection with acquisitions of businesses and for financing and/or securing delivery of ordinary shares in long-term incentive programs. The share repurchase program will expire at the company’s next Annual General Meeting 2024. As of March 31, 2022, the company had 21,858,231 shares in issue of which 21,615,231 are ordinary shares and 243,000 are series C shares. The Company holds 12,952 ordinary share and all 243,000 outstanding series C-shares in treasury.
On July 18, 2023, the company announced a share repurchase program. Under the program, the company will repurchase SEK 25 million worth of its shares. The purpose of the repurchase program is to enable the company to adapt its capital structure to its capital needs over time, and thereby contribute to an increased shareholder value. Repurchase may take place during the period from and including July 19, 2023, up to and including October 25, 2023. New Risk • Jul 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 19
Second quarter 2023 earnings released: kr28.70 loss per share (vs kr2.16 profit in 2Q 2022) Second quarter 2023 results: kr28.70 loss per share (down from kr2.16 profit in 2Q 2022). Revenue: kr217.4m (flat on 2Q 2022). Net loss: kr620.0m (down kr666.2m from profit in 2Q 2022). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 43% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jul 06
Enea AB (Publ) Announces Resignation of Jan Frykhammar from the Board of Directors Enea AB (publ) announced that the board member Jan Frykhammar is resigning from the Board of Directors at his own request effective immediately. He is resigning for personal reasons. Tillkännagivande • Jun 15
Enea AB (Publ) Announces CFO Changes Enea AB (publ) announces the appointment of Ulf Stigberg as interim CFO at Enea from July 19, 2023. As previously announced, Ola Burmark, Enea’s current CFO, will leave the Group for a similar role in a privately held company. Buying Opportunity • May 01
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 29%. The fair value is estimated to be €7.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.6%. Revenue is forecast to grow by 2.1% in 2 years. Earnings is forecast to decline by 36% in the next 2 years. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: kr0.47 (vs kr0.60 loss in 1Q 2022) First quarter 2023 results: EPS: kr0.47 (up from kr0.60 loss in 1Q 2022). Revenue: kr254.0m (up 18% from 1Q 2022). Net income: kr10.2m (up kr23.2m from 1Q 2022). Profit margin: 4.0% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Apr 25
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to €6.27, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 19x in the IT industry in Germany. Total loss to shareholders of 54% over the past three years. Reported Earnings • Feb 04
Full year 2022 earnings released: EPS: kr5.04 (vs kr9.30 in FY 2021) Full year 2022 results: EPS: kr5.04 (down from kr9.30 in FY 2021). Revenue: kr964.8m (down 1.2% from FY 2021). Net income: kr108.9m (down 46% from FY 2021). Profit margin: 11% (down from 21% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Feb 01
Enea Announces Resignation of Ola Burmark as CFO Ola Burmark will leave his position as CFO at Enea for a similar role in a privately held company. Recruitment of a new CFO has started. Ola Burmark remains in his role as CFO at Enea during his notice period, or up to six months. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €7.13, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the IT industry in Germany. Total loss to shareholders of 59% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Mats Lindoff was the last independent director to join the board, commencing their role in 2010. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: kr1.69 (vs kr2.32 in 3Q 2021) Third quarter 2022 results: EPS: kr1.69 (down from kr2.32 in 3Q 2021). Revenue: kr252.9m (down 2.4% from 3Q 2021). Net income: kr36.6m (down 27% from 3Q 2021). Profit margin: 14% (down from 19% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 21% share price gain to €10.26, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the IT industry in Germany. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €15.73 per share. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorated over the past week After last week's 22% share price decline to €8.26, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 20x in the IT industry in Germany. Total loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €15.12 per share. Reported Earnings • Jul 16
Second quarter 2022 earnings released: EPS: kr2.15 (vs kr2.39 in 2Q 2021) Second quarter 2022 results: EPS: kr2.15 (down from kr2.39 in 2Q 2021). Revenue: kr221.8m (down 5.2% from 2Q 2021). Net income: kr46.2m (down 11% from 2Q 2021). Profit margin: 21% (down from 22% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 6.3%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 9% per year. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorated over the past week After last week's 39% share price decline to €10.72, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 24x in the IT industry in Germany. Total loss to shareholders of 23% over the past three years. Reported Earnings • Apr 28
First quarter 2022 earnings released: kr0.38 loss per share (vs kr2.03 profit in 1Q 2021) First quarter 2022 results: kr0.38 loss per share (down from kr2.03 profit in 1Q 2021). Revenue: kr248.4m (up 16% from 1Q 2021). Net loss: kr8.20m (down 119% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 12%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Director Mats Lindoff was the last independent director to join the board, commencing their role in 2010. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Apr 17
Full year 2021 earnings released: EPS: kr9.30 (vs kr6.63 in FY 2020) Full year 2021 results: EPS: kr9.30 (up from kr6.63 in FY 2020). Revenue: kr976.5m (up 6.6% from FY 2020). Net income: kr200.3m (up 41% from FY 2020). Profit margin: 21% (up from 16% in FY 2020). Over the next year, revenue is forecast to grow 13%, compared to a 19% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improved over the past week After last week's 15% share price gain to €19.82, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 26x in the IT industry in Germany. Total returns to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €34.67 per share. Recent Insider Transactions • Feb 05
Insider recently sold €71k worth of stock On the 2nd of February, Daniel Forsgren sold around 3k shares on-market at roughly €24.03 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €725k more than they bought in the last 12 months. Reported Earnings • Feb 04
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: kr9.32 (up from kr6.63 in FY 2020). Revenue: kr1.00b (up 9.3% from FY 2020). Net income: kr200.3m (up 41% from FY 2020). Profit margin: 20% (up from 16% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 21%, compared to a 17% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 02
Enea AB (publ) to Report Fiscal Year 2022 Results on Feb 02, 2023 Enea AB (publ) announced that they will report fiscal year 2022 results on Feb 02, 2023 Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €21.85, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 31x in the IT industry in Germany. Total returns to shareholders of 102% over the past three years. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS kr2.32 (vs kr1.45 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr259.0m (up 24% from 3Q 2020). Net income: kr50.2m (up 61% from 3Q 2020). Profit margin: 19% (up from 15% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Oct 12
Chief Financial Officer Bjorn Westberg has left the company On the 1st of October, Bjorn Westberg's tenure as Chief Financial Officer ended after 2.8 years in the role. As of June 2021, Bjorn still personally held 17.89k shares (€349k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.75 years. Recent Insider Transactions • Jul 23
Insider recently sold €315k worth of stock On the 20th of July, Indranil Chatterjee sold around 14k shares on-market at roughly €22.52 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €755k more than they bought in the last 12 months. Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS kr2.41 (vs kr2.18 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: kr226.4m (down 6.1% from 2Q 2020). Net income: kr52.0m (up 11% from 2Q 2020). Profit margin: 23% (up from 19% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jul 16
Enea AB (publ) (OM:ENEA) agreed to acquire AdaptiveMobile Ltd. from Intel Capital, Doughty Hanson & Co. Technology Ventures and others. Enea AB (publ) (OM:ENEA) agreed to acquire AdaptiveMobile Ltd. from Intel Capital, Doughty Hanson & Co. Technology Ventures and others on July 15, 2021. Estimated transaction cost is approximately SEK 13 million. The acquisition, which will be financed through cash and a bank loan, will be consolidated during Q3 2021 as part of product group Network Solutions. AdaptiveMobile Security will continue to operate under its current brand as a new business unit within Enea and will be headed by Brian Collins. The enterprise value of AdaptiveMobile Security amounts to approximately EUR 45 million on a cash and debt free basis. AdaptiveMobile has a revenue of EUR 15.5 million in 2020. Closing is expected in July 2021. Enea estimates that the acquisition will be EPS accretive from the fourth quarter of 2021. PricewaterhouseCoopers AB, Investment Banking Arm acted as financial advisor and Pinsent Masons acted as legal advisor to Enea. Pegasus Capital acted as financial advisor and ByrneWallace acted as legal advisor to AdaptiveMobile. Executive Departure • May 12
Independent Director has left the company On the 6th of May, Anders Skarin's tenure in the role of Independent Director ended. We don't have any record of a personal shareholding under Anders' name. Anders is the only executive to leave the company over the last 12 months. Recent Insider Transactions • May 01
Insider recently sold €126k worth of stock On the 27th of April, Daniel Forsgren sold around 5k shares on-market at roughly €25.19 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €634k more than they bought in the last 12 months. Reported Earnings • Apr 18
Full year 2020 earnings released: EPS kr6.63 (vs kr8.47 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr915.1m (down 8.0% from FY 2019). Net income: kr142.3m (down 16% from FY 2019). Profit margin: 16% (down from 17% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Feb 10
Enea AB (publ) to Report Fiscal Year 2021 Results on Feb 22, 2022 Enea AB (publ) announced that they will report fiscal year 2021 results at 7:20 AM, Central European Standard Time on Feb 22, 2022 Recent Insider Transactions • Feb 04
Insider recently sold €77k worth of stock On the 2nd of February, Jean-Philippe Lion sold around 3k shares on-market at roughly €24.10 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €525k more than they bought in the last 12 months. Analyst Estimate Surprise Post Earnings • Feb 02
Revenue beats expectations Revenue exceeded analyst estimates by 0.9%. Over the next year, revenue is forecast to grow 9.8%, compared to a 12% growth forecast for the IT industry in Germany. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS kr6.62 (vs kr8.47 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: kr929.1m (down 8.2% from FY 2019). Net income: kr142.3m (down 16% from FY 2019). Profit margin: 15% (down from 17% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Jan 23
New 90-day high: €21.80 The company is up 33% from its price of €16.40 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.22 per share. Tillkännagivande • Jan 20
NEXCOM and Enea Launch Open Source Software Kit with flexiWAN for Secure SD-WAN Enea and NEXCOM have jointly developed an open source software kit for secure SD-WAN, making it easy for systems integrators and communication service providers to evaluate and deploy enterprise networks leveraging universal customer premises equipment (uCPE). The kit includes flexiWAN, an open source SD-WAN application, and pfSense, an open source firewall, both virtualized to run on uCPE. Also included are automation scripts for onboarding and testing, as well as extensive how-to-guides. The open source software is configured for Enea's uCPE virtualization and management platform, Enea NFV Access, and two of NEXCOM's Intel-based whitebox appliances DTA 1160 and TCA 5170B. The two hardware platforms provide different networking capacities at different price points, covering a wide range of performance requirements for various use cases. NEXCOM's DTA 1160 is based on an Intel Atom processor and designed for lightweight, scale-out workloads, while TCA 5170B is based on an Intel Xeon D processor for high virtualized performance. Both configurations have been tested to meet throughput requirements of most small and mid-sized branches. The solution brief was created by Intel Corporation. To read the full story. Providing a complete application framework, including open source Virtual Network Functions (VNFs) and all necessary configurations, the software kit significantly shortens the time needed to bring up a solution on uCPE. It can easily be adapted to accommodate preferences for specific VNF vendors by replacing the open source VNFs with other SD-WAN or firewall VNFs, or extending them with additional applications. Is New 90 Day High Low • Jan 06
New 90-day high: €19.28 The company is up 5.0% from its price of €18.28 on 08 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €26.23 per share. Tillkännagivande • Dec 19
Enea AB (Publ) Signs Traffic Management Contract Worth USD 4.1 Million Enea AB (publ) has signed a traffic management software upgrade contract with a North American service provider. The main part of the contract covers perpetual licenses for 4G and 5G traffic. Software licenses worth USD 0.9 million are recognized during the fourth quarter of 2020, while the remaining part generates revenues during 2021. The total contract value is USD 4.1 million. The mobile video traffic management solutions provided by Enea alleviate radio network congestion, accelerate video delivery, and improve subscribers’ quality of experience. Enea’s open and cloud-native products are used by network operators worldwide, including eight out of the ten largest mobile operator groups in the world. Is New 90 Day High Low • Oct 30
New 90-day low: €15.10 The company is down 4.0% from its price of €15.74 on 31 July 2020. The German market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.25 per share. Recent Insider Transactions • Oct 29
Insider recently sold €100k worth of stock On the 23rd of October, Adrian Leufvén sold around 6k shares on-market at roughly €16.72 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €448k more than they bought in the last 12 months. Recent Insider Transactions • Oct 25
President & CEO recently bought €47k worth of stock On the 21st of October, Jan Häglund bought around 3k shares on-market at roughly €15.64 per share. This was the largest purchase by an insider in the last 3 months. This was Jan's only on-market trade for the last 12 months. Analyst Estimate Surprise Post Earnings • Oct 22
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 4.7% at kr206.4m. Revenue is forecast to grow 11% over the next year, compared to a 8.7% growth forecast for the IT industry in Germany. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total profits of kr123.1m, down 37% from the prior year. Total revenue was kr937.6m over the last 12 months, down 5.2% from the prior year. Is New 90 Day High Low • Oct 03
New 90-day high: €19.36 The company is up 11% from its price of €17.52 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €20.09 per share. Tillkännagivande • Oct 02
Enea AB (publ) to Report Nine Months, 2020 Results on Oct 21, 2020 Enea AB (publ) announced that they will report nine months, 2020 results on Oct 21, 2020 
