New Risk • May 14
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 Norwegian stocks, typically moving 9.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.3x net interest cover). Earnings are forecast to decline by an average of 80% per year for the foreseeable future. High level of non-cash earnings (44% accrual ratio). Shareholders have been substantially diluted in the past year (over 18x increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (9.0% average weekly change). Tillkännagivande • Apr 16
Prosafe SE Announces Resignation of Jean-Baptiste de Boissieu as Board Member, Effective April 30, 2026 Prosafe SE announced that Jean-Baptiste de Boissieu has notified the Chair of the Board of Directors that he resigns as board member due to other commitments. De Boissieu has been a member of the Board of Directors since August 2025. His resignation has been accepted and is effective April 30, 2026. Tillkännagivande • Mar 04
An undisclosed buyer acquired 5% stake in Prosafe SE (OB:PRS) from Burlington Loan Management Designated Activity Company. An undisclosed buyer acquired 5% stake in Prosafe SE (OB:PRS) from Burlington Loan Management Designated Activity Company on March 3, 2026.
An undisclosed buyer completed the acquisition of 5% stake in Prosafe SE (OB:PRS) from Burlington Loan Management Designated Activity Company on March 3, 2026. Tillkännagivande • Feb 20
Prosafe SE Appoints Halvdan Kielland as Permanent CFO Prosafe SE has appointed Halvdan Kielland as permanent chief financial officer (CFO). Mr. Kielland joined Prosafe as Corporate Finance Lead in January 2025 and was appointed Interim CFO in November 2025. Prior to joining Prosafe, he worked in investment banking with a focus on energy services and offshore. Tillkännagivande • Dec 24
Prosafe SE, Annual General Meeting, May 29, 2026 Prosafe SE, Annual General Meeting, May 29, 2026. New Risk • Dec 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings are forecast to decline by an average of 64% per year for the foreseeable future. High level of non-cash earnings (39% accrual ratio). Shareholders have been substantially diluted in the past year (over 18x increase in shares outstanding). Tillkännagivande • Nov 08
Prosafe SE Appoints Reese McNeel as CEO Prosafe SE announced that the Board of Directors of Prosafe has appointed Reese McNeel as permanent chief executive officer (CEO).Reese will continue to perform the CFO duties until a successor is appointed. Reese has more than 20 years of leadership experience from the offshore energy industry and publicly listed companies, including executive management and CEO level tenure at Atlantica Tender Drilling Ltd. and Sevan Marine ASA. He has already demonstrated his strong leadership and dedication to Prosafe as interim CEO since September 2025 and Chief Financial Officer since August 2022. Major Estimate Revision • Oct 03
Consensus EPS estimates upgraded to US$0.15 loss, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$150.6m to US$148.0m. 2025 losses expected to reduce from -US$1.52 to -US$0.15 per share. Energy Services industry in Norway expected to see average net income growth of 10% next year. Consensus price target of kr3.53 unchanged from last update. Share price fell 9.6% to kr3.35 over the past week. Reported Earnings • Aug 24
Second quarter 2025 earnings released: US$1.34 loss per share (vs US$0.58 loss in 2Q 2024) Second quarter 2025 results: US$1.34 loss per share (further deteriorated from US$0.58 loss in 2Q 2024). Revenue: US$30.9m (down 9.6% from 2Q 2024). Net loss: US$23.9m (loss widened 132% from 2Q 2024). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Energy Services industry in Norway. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Board Change • Jul 31
No independent directors 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: 5 new directors. No experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Non-Executive Director Monique Fares is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Jul 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 18x increase in shares outstanding. This is considered a major 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 Share price has been highly volatile over the past 3 months (22% average weekly change). Shareholders have been substantially diluted in the past year (over 18x increase in shares outstanding). Minor Risks Negative equity (-US$27m). Currently unprofitable and not forecast to become profitable next year (US$14m net loss next year). New Risk • Jul 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr96.5m (US$9.48m) This is considered a major 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 Share price has been highly volatile over the past 3 months (22% average weekly change). Market cap is less than US$10m (kr96.5m market cap, or US$9.48m). Minor Risks Negative equity (-US$27m). Currently unprofitable and not forecast to become profitable next year (US$14m net loss next year). Reported Earnings • May 23
First quarter 2025 earnings released: US$0.83 loss per share (vs US$0.48 loss in 1Q 2024) First quarter 2025 results: US$0.83 loss per share (further deteriorated from US$0.48 loss in 1Q 2024). Revenue: US$33.0m (down 2.9% from 1Q 2024). Net loss: US$14.9m (loss widened 73% from 1Q 2024). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 2.7% growth forecast for the Energy Services industry in Norway. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 03
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: US$2.33 loss per share (improved from US$6.00 loss in FY 2023). Revenue: US$139.8m (up 46% from FY 2023). Net loss: US$41.8m (loss narrowed 38% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.9%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 4.3% growth forecast for the Energy Services industry in Norway. 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. New Risk • Feb 03
New minor risk - Negative shareholders equity The company has negative equity. Total equity: -US$8.3m This is considered a minor risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. It should be noted that some of the negative equity could be due to large buybacks of stock, which is not as much of a risk as a company with overwhelming debt, but likewise is not sustainable in the long-term. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (26% average weekly change). Minor Risks Negative equity (-US$8.3m). Market cap is less than US$100m (kr173.1m market cap, or US$15.3m). Buy Or Sell Opportunity • Jan 09
Now 23% overvalued Over the last 90 days, the stock has fallen 44% to kr13.00. The fair value is estimated to be kr10.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has grown by 85%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 50% in the next year. Tillkännagivande • Dec 30
Prosafe Se Announces Resignation of Gunnar Eliassen as Deputy Chair Prosafe SE announced that Gunnar Eliassen has notified the Chair of the Board of Directors that he resigns as Deputy Chair due to other commitments. Mr. Eliassen has been a member of the Board of Directors since February 2024. His resignation has been accepted and is effective immediately. Tillkännagivande • Dec 20
Prosafe SE, Annual General Meeting, May 21, 2025 Prosafe SE, Annual General Meeting, May 21, 2025. Buy Or Sell Opportunity • Dec 10
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 73% to kr7.92. The fair value is estimated to be kr10.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has grown by 85%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 50% in the next year. Buy Or Sell Opportunity • Nov 25
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 80% to kr7.00. The fair value is estimated to be kr10.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has grown by 85%. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 65% in the next year. New Risk • Nov 22
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 Norwegian stocks, typically moving 12% 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Market cap is less than US$100m (kr160.8m market cap, or US$14.5m). Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.66 loss per share (further deteriorated from US$0.49 loss in 3Q 2023). Revenue: US$34.6m (up 5.5% from 3Q 2023). Net loss: US$11.8m (loss widened 107% from 3Q 2023). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 65%. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Energy Services industry in Norway. Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: US$0.58 loss per share (improved from US$2.59 loss in 2Q 2023). Revenue: US$34.2m (up 63% from 2Q 2023). Net loss: US$10.3m (loss narrowed 60% from 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 30%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Energy Services industry in Norway. New Risk • Jun 10
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$55m Forecast net loss in 2 years: US$4.0m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$4.0m net loss in 2 years). Share price has been volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$100m (kr710.3m market cap, or US$66.2m). New Risk • May 10
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$55m Forecast net loss in 1 year: US$16m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$16m net loss next year). Market cap is less than US$100m (kr654.9m market cap, or US$60.5m). Reported Earnings • May 10
First quarter 2024 earnings released: US$0.48 loss per share (vs US$2.47 loss in 1Q 2023) First quarter 2024 results: US$0.48 loss per share (improved from US$2.47 loss in 1Q 2023). Revenue: US$34.0m (up 138% from 1Q 2023). Net loss: US$8.60m (loss narrowed 60% from 1Q 2023). Revenue is forecast to grow 40% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Energy Services industry in Norway. Reported Earnings • Mar 20
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: US$6.00 loss per share (down from US$0.17 profit in FY 2022). Revenue: US$96.0m (down 52% from FY 2022). Net loss: US$67.8m (down US$69.3m from profit in FY 2022). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) exceeded analyst estimates by 6.8%. Revenue is forecast to grow 43% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Energy Services industry in Norway. Reported Earnings • Feb 02
Full year 2023 earnings released: US$6.00 loss per share (vs US$0.17 profit in FY 2022) Full year 2023 results: US$6.00 loss per share (down from US$0.17 profit in FY 2022). Revenue: US$97.7m (down 51% from FY 2022). Net loss: US$67.8m (down US$69.3m from profit in FY 2022). Revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Energy Services industry in Norway. New Risk • Jan 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr1.04b (US$99.9m) 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 Risk Shareholders have been substantially diluted in the past year (103% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (kr1.04b market cap, or US$99.9m). Tillkännagivande • Jan 08
Prosafe SE Announces Resignation of Simen Flaaten as Board member Simen Flaaten has notified the Chair of Prosafe’s Board of Directors that due to other commitments, he wants to resign as Director as soon as practicable possible. Mr. Flaaten has been a member of the Board of Directors since 30 June 2023. Mr. Flaaten’s resignation has been accepted and he will remain on the Board until a Director to replace him has been elected. Prosafe will call for an extraordinary general meeting to elect a new Director shortly. Reported Earnings • Oct 27
Third quarter 2023 earnings released: US$0.49 loss per share (vs US$1.13 profit in 3Q 2022) Third quarter 2023 results: US$0.49 loss per share (down from US$1.13 profit in 3Q 2022). Revenue: US$32.8m (down 48% from 3Q 2022). Net loss: US$5.70m (down 158% from profit in 3Q 2022). Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Energy Services industry in Norway. Over the last 3 years on average, earnings per share has increased by 140% per year but the company’s share price has fallen by 60% per year, which means it is significantly lagging earnings. New Risk • Oct 26
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 Norwegian stocks, typically moving 9.6% 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 (9.6% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Market cap is less than US$100m (kr746.4m market cap, or US$66.5m). Tillkännagivande • Oct 19
Prosafe Se: Announces Resignation of Alf C. Thorkildsen as Board Member Prosafe SE announced that Alf C. Thorkildsen has notified the Chair of the Board of Directors that he resigns as Director due to other commitments. Mr. Thorkildsen has been a member of Prosafe’s Board of Directors since 2020 and Deputy Chair since 2022. His resignation has been accepted and is effective immediately. Tillkännagivande • Sep 07
Prosafe SE to Report Q4, 2023 Results on Feb 01, 2024 Prosafe SE announced that they will report Q4, 2023 results on Feb 01, 2024 Major Estimate Revision • Aug 23
Consensus revenue estimates fall by 31% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$147.4m to US$102.0m. Forecast losses increased from -US$4.17 to -US$6.28 per share. Energy Services industry in Norway expected to see average net income growth of 65% next year. Consensus price target down from kr254 to kr186. Share price fell 11% to kr104 over the past week. Reported Earnings • Aug 18
Second quarter 2023 earnings released: US$2.59 loss per share (vs US$1.20 profit in 2Q 2022) Second quarter 2023 results: US$2.59 loss per share (down from US$1.20 profit in 2Q 2022). Revenue: US$21.0m (down 66% from 2Q 2022). Net loss: US$25.7m (down 343% from profit in 2Q 2022). Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Energy Services industry in Norway. Over the last 3 years on average, earnings per share has increased by 133% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Tillkännagivande • Jul 28
Prosafe SE Announces Executive Changes Prosafe SE announced that Board of Directors of Prosafe has appointed Terje Askvig as new CEO. He will start in his new position latest on 1 November 2023. Reese McNeel will continue as interim CEO until that date. Terje Askvig has experience from shipping, oil service, family office and private equity. For the last 11 years, he has been Operating Partner and Senior Advisor in Triton Partners, a leading European private equity firm. Before joining Triton Partners, Mr. Askvig worked as CEO of Eitzen Chemical for five years and seven years in Fred. Olsen & Co, including Managing Director of Fred. Olsen Renewables. Mr. Askvig also worked five years as CEO in London for BT Shipping Ltd. and for a family office, Pausco. Tillkännagivande • Jul 01
Prosafe Se Approves Board Elections Prosafe SE at its AGM held on June 30, 2023 approved election of Simen Flaaten as member of the board effective after publication of the Company's listing prospectus dated 30 June 2023, until the annual general meeting of 2024 and Election of Halvard Idland as deputy director until the annual general meeting of 2024. Tillkännagivande • May 26
Prosafe Se Announces Executive Changes Prosafe SE announced that, following the announcement on 27 April 2021 that Jesper Kragh Andresen will step down as CEO, the board has decided to accelerate the leadership transition and to appoint Reese McNeel, the current CFO, to interim CEO effective immediately and until a permanent replacement is selected. Jesper shall continue to support the company as a strategic advisor to the Board and executive team in a transition period. Reported Earnings • May 10
First quarter 2023 earnings released: US$2.47 loss per share (vs US$1.35 loss in 1Q 2022) First quarter 2023 results: US$2.47 loss per share (further deteriorated from US$1.35 loss in 1Q 2022). Revenue: US$14.3m (down 60% from 1Q 2022). Net loss: US$21.7m (loss widened 82% from 1Q 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Energy Services industry in Norway. Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr128, the stock trades at a trailing P/E ratio of 70.5x. Average forward P/E is 11x in the Energy Services industry in Norway. Total loss to shareholders of 91% over the past three years. Major Estimate Revision • Apr 26
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$147.4m to US$130.7m. Forecast losses increased from -US$4.17 to -US$5.02 per share. Energy Services industry in Norway expected to see average net income growth of 41% next year. Consensus price target down from kr345 to kr259. Share price fell 5.5% to kr137 over the past week. Major Estimate Revision • Mar 06
Consensus EPS estimates fall by 113% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$157.3m to US$147.4m. Losses expected to increase from US$1.96 per share to US$4.17. Energy Services industry in Norway expected to see average net income growth of 69% next year. Consensus price target down from kr350 to kr337. Share price fell 2.2% to kr158 over the past week. Reported Earnings • Mar 02
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$0.17 (down from US$263 in FY 2021). Revenue: US$198.9m (up 42% from FY 2021). Net income: US$1.50m (down 100% from FY 2021). Profit margin: 0.8% (down from 662% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 77%. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Energy Services industry in Norway. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 54% per year, which means it is significantly lagging earnings. Tillkännagivande • Feb 13
Prosafe SE to Report Q4, 2022 Results on Feb 28, 2023 Prosafe SE announced that they will report Q4, 2022 results at 7:00 AM, Central European Standard Time on Feb 28, 2023 Recent Insider Transactions • Nov 16
Independent Non-Executive Director recently sold kr3.5m worth of stock On the 10th of November, Nina Udnes Tronstad sold around 22k shares on-market at roughly kr158 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr561k more than they sold in the last 12 months. Recent Insider Transactions • Nov 13
Independent Non-Executive Director recently sold kr3.5m worth of stock On the 10th of November, Nina Udnes Tronstad sold around 22k shares on-market at roughly kr158 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought kr561k more than they sold in the last 12 months. Major Estimate Revision • Nov 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$189.0m to US$199.0m. EPS estimate fell from US$0.82 to US$0.60 per share. Net income forecast to shrink 101% next year vs 10% growth forecast for Energy Services industry in Norway . Consensus price target down from kr497 to kr420. Share price fell 9.0% to kr170 over the past week. Reported Earnings • Nov 04
Third quarter 2022 earnings: Revenues exceed analyst expectations Third quarter 2022 results: Revenue: US$63.6m (up 39% from 3Q 2021). Net income: US$9.90m (up US$18.8m from 3Q 2021). Profit margin: 16% (up from net loss in 3Q 2021). Revenue exceeded analyst estimates by 9.7%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Energy Services industry in Norway. Reported Earnings • Aug 20
Second quarter 2022 earnings: Revenues exceed analyst expectations Second quarter 2022 results: Revenue: US$60.9m (up 22% from 2Q 2021). Net income: US$10.6m (up US$21.8m from 2Q 2021). Profit margin: 17% (up from net loss in 2Q 2021). Revenue exceeded analyst estimates by 8.7%. Over the next year, revenue is forecast to grow 15%, compared to a 14% growth forecast for the Energy Services industry in Norway. Recent Insider Transactions • May 15
Independent Non-Executive Director recently bought kr639k worth of stock On the 13th of May, Nina Udnes Tronstad bought around 3k shares on-market at roughly kr213 per share. In the last 3 months, they made an even bigger purchase worth kr1.3m. Insiders have collectively bought kr2.9m more in shares than they have sold in the last 12 months. Reported Earnings • May 13
First quarter 2022 earnings: Revenues exceed analyst expectations First quarter 2022 results: Revenue: US$35.5m (up 122% from 1Q 2021). Net loss: US$11.9m (loss narrowed 87% from 1Q 2021). Revenue exceeded analyst estimates by 27%. Reported Earnings • Apr 01
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: US$141.1m (up 147% from FY 2020). Net income: US$927.9m (up US$1.88b from FY 2020). Revenue exceeded analyst estimates by 27%. Recent Insider Transactions • Mar 29
Independent Non-Executive Director recently bought kr1.2m worth of stock On the 28th of March, Nina Udnes Tronstad bought around 8k shares on-market at roughly kr144 per share. In the last 3 months, they made an even bigger purchase worth kr1.3m. Insiders have collectively bought kr2.2m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 23
Independent Non-Executive Director recently bought kr1.3m worth of stock On the 14th of March, Nina Udnes Tronstad bought around 11k shares on-market at roughly kr119 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.0m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 14
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: US$110 (up from US$10,798 loss in FY 2020). Revenue: US$141.1m (up 147% from FY 2020). Net income: US$927.9m (up US$1.88b from FY 2020). Revenue exceeded analyst estimates by 27%. Earnings per share (EPS) also surpassed analyst estimates. Reported Earnings • Nov 10
Third quarter 2021 earnings released: US$0.10 loss per share (vs US$0.28 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$45.8m (up 292% from 3Q 2020). Net loss: US$8.90m (loss narrowed 63% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 62% per year, which means it is performing significantly worse than earnings.