Tillkännagivande • Apr 22
Systemair Showcases New Ventilation Products and Solutions At Nordbygg Systemair participated at Nordbygg 2026, showcasing the breadth of one of the market’s most complete ventilation portfolios. The booth features several new products developed to simplify design, installation, and operation without compromising reliability or performance. Highlights include: MiniByter – a new renovation unit replacing old Bahco Minimaster on a 1:1 basis; Advanced remote support with Systemair Access – saves time and enables safer commissioning and optimized operation; New backflow protection for fans in operation – increases safety and operational stability; Axial fans with EC motors – offering high energy efficiency, modern control, and improved performance; Garage fans are now included in the fan portfolio to meet the needs of infrastructure projects. Together, these innovations demonstrate how Systemair can meet all ventilation needs — from individual components to integrated solutions. At Nordbygg, Systemair presents its broad air handling unit portfolio — from compact standard units to flexible, customized solutions for more demanding projects. One of the major news items is the further development of the Systemair Access control platform, now featuring remote commissioning capabilities and extended trend logging for optimized operation and energy use in air handling units. Systemair shares the booth with Menerga, part of the Systemair Group, and together they present a swimming facility project where Menerga supplied the wet units and Systemair the dry units, complemented by roof fans, centrifugal fans, iris dampers, and demand-controlled VAV. Systemair will also showcase its strengthened fire safety offering, including a complete range of backflow protection devices, smoke control and fire dampers, and smoke extraction fans, complemented by control and monitoring solutions. Tillkännagivande • Mar 23
Systemair Group Showcases Broad Range of Ventilation Systems At Mostra Convegno Expocomfort Systemair Group will spotlight its broad range of ventilation systems that seamlessly integrate with heating, cooling and air conditioning solutions. Systemair sees ventilation as the heart of every effective air treatment system. It ensures indoor air quality, thermal comfort, and energy efficiency -- key factors in sustainable building performance. The exhibition will focus on solving real-life challenges in various areas, offering visitors a combination of interactive applications, try Systemair's product selection tool and seeing real products. The Systemair brand will demonstrate air handling units (ahu) with built-in controls to be operated via app or cloud for hospitals and laboratories, schools and offices as well as a system solution for smoke management. SagiCofim will present its portfolio within the Engineered Air Quality concept, combining air filtration, air diffusion and acoustics to create efficient and healthy indoor environments. On display are filters for operating theatres, HEPA and ULPA filters, Eurovent-certified compact filters with A+ energy class, safe change housings, high-efficiency air diffusers and sound attenuators, showing how filtration, distribution and acoustics work together in demanding applications. Menerga will reveal a brand-new compact air handling unit for efficient ventilation, heating and dehumidification for indoor pools and wellness spaces. The air handling unit is energy efficient, offers reliable humidity control and has a space-saving design. Efficient heating and cooling are key to effective climate control, and Frico will present new infrared heaters, designed to extend the outdoor season with timeless design and smart heating, and a new complete range of water-heated fan heaters, developed and manufactured in Sweden for applications ranging from robust industrial heating to advanced comfort control in noise-sensitive environments. Several air curtains will also be available for live demonstration together with Frico Control system. Recent Insider Transactions • Mar 23
Vice Chairman of the Board recently bought kr109m worth of stock On the 18th of March, Gerald Engström bought around 2m shares on-market at roughly kr72.50 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Gerald's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 08
Independent Chairman of the Board recently bought kr379k worth of stock On the 5th of March, Lars Nolaker bought around 5k shares on-market at roughly kr75.80 per share. This transaction amounted to 8.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Lars has been a buyer over the last 12 months, purchasing a net total of kr3.2m worth in shares. Reported Earnings • Mar 06
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: kr0.63 (up from kr0.62 in 3Q 2025). Revenue: kr2.86b (down 5.9% from 3Q 2025). Net income: kr130.7m (up 1.5% from 3Q 2025). Profit margin: 4.6% (up from 4.2% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Mar 03
Now 23% undervalued Over the last 90 days, the stock has risen 2.9% to kr79.00. The fair value is estimated to be kr102, 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 6.9%. Revenue is forecast to grow by 8.6% in 2 years. Earnings are forecast to grow by 54% in the next 2 years. Buy Or Sell Opportunity • Jan 02
Now 20% undervalued Over the last 90 days, the stock has risen 8.3% to kr86.30. The fair value is estimated to be kr108, 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 6.9%. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Buy Or Sell Opportunity • Dec 17
Now 20% undervalued Over the last 90 days, the stock has risen 3.0% to kr86.20. The fair value is estimated to be kr108, 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 6.9%. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. Recent Insider Transactions • Dec 14
President & CEO recently sold kr2.5m worth of stock On the 11th of December, Roland Kasper sold around 29k shares on-market at roughly kr86.27 per share. This transaction amounted to 29% 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 Roland's only on-market trade for the last 12 months. New Risk • Dec 12
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: kr0 This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Reported Earnings • Dec 05
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: kr1.28 (up from kr1.14 in 2Q 2025). Revenue: kr3.27b (up 4.0% from 2Q 2025). Net income: kr265.0m (up 11% from 2Q 2025). Profit margin: 8.1% (up from 7.6% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 9.4%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Recent Insider Transactions • Oct 06
Independent Chairman of the Board recently bought kr800k worth of stock On the 3rd of October, Lars Nolaker bought around 10k shares on-market at roughly kr80.00 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr864k. Lars has been a buyer over the last 12 months, purchasing a net total of kr2.9m worth in shares. New Risk • Sep 26
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Sep 03
Key Executive recently bought kr864k worth of stock On the 29th of August, Lars Nolaker bought around 10k shares on-market at roughly kr86.40 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Lars has been a buyer over the last 12 months, purchasing a net total of kr2.1m worth in shares. Reported Earnings • Aug 31
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: kr0.93 (down from kr1.01 in 1Q 2025). Revenue: kr3.09b (flat on 1Q 2025). Net income: kr192.2m (down 8.3% from 1Q 2025). Profit margin: 6.2% (down from 6.7% in 1Q 2025). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 8.9%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Aug 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.5% to kr86.00. The fair value is estimated to be kr109, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.8% over the last 3 years, while earnings per share has been flat. Tillkännagivande • Aug 29
Systemair AB (Publ) Approves Dividend, Payable on 4 September 2025 The Board of Directors of Systemair AB (publ) at its AGM held on 28 August, 2025, approved a dividend of SEK 1.35 (1.20) per share. Record date: September 1, 2025; Payment date: September 4, 2025. Upcoming Dividend • Aug 22
Upcoming dividend of kr1.35 per share Eligible shareholders must have bought the stock before 29 August 2025. Payment date: 04 September 2025. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Swedish dividend payers (3.8%). Lower than average of industry peers (1.6%). Tillkännagivande • Aug 12
Systemair AB (publ) (OM:SYSR) completed the acquisition of Nadi Airtechnics Pvt Ltd. from J.B. Kamdar and M.J. Kamdar. Systemair AB (publ) (OM:SYSR) signed an agreement to acquire Nadi Airtechnics Pvt Ltd. from J.B. Kamdar and M.J. Kamdar on July 9, 2025.
The expected completion of the transaction is July 9, 2025 to August 31, 2025, which is during Systemair AB’s second quarter.
Ramkumar K, Sachin Bansal, Amit Khandelwal, Ajay Arora of Ernst & Young Private Limited acted as financial advisor to the shareholders of Nadi Airtechnics.
Systemair AB (publ) (OM:SYSR) completed the acquisition of Nadi Airtechnics Pvt Ltd. from J.B. Kamdar and M.J. Kamdar on August 11, 2025. Tillkännagivande • Jul 09
Systemair AB (publ) (OM:SYSR) signed an agreement to acquire Nadi Airtechnics Pvt Ltd. from J.B. Kamdar and M.J. Kamdar. Systemair AB (publ) (OM:SYSR) signed an agreement to acquire Nadi Airtechnics Pvt Ltd. from J.B. Kamdar and M.J. Kamdar on July 9, 2025.
The expected completion of the transaction is July 9, 2025 to August 31, 2025, which is during Systemair AB’s second quarter. Declared Dividend • Jun 25
Dividend increased to kr1.35 Dividend of kr1.35 is 13% higher than last year. Ex-date: 29th August 2025 Payment date: 4th September 2025 Dividend yield will be 1.6%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 52% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 07
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: kr3.27 (up from kr3.10 in FY 2024). Revenue: kr12.3b (flat on FY 2024). Net income: kr680.7m (up 5.4% from FY 2024). Profit margin: 5.5% (up from 5.3% in FY 2024). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Apr 06
Key Executive recently bought kr1.2m worth of stock On the 2nd of April, Lars Nolaker bought around 16k shares on-market at roughly kr75.30 per share. This transaction amounted to 67% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Lars' only on-market trade for the last 12 months. Recent Insider Transactions • Mar 13
Independent Director recently bought kr1.1m worth of stock On the 10th of March, Gunilla Spongh bought around 14k shares on-market at roughly kr82.10 per share. This transaction increased Gunilla's direct individual holding by 5x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr725k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 06
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: kr0.62 (up from kr0.12 loss in 3Q 2024). Revenue: kr3.04b (up 7.6% from 3Q 2024). Net income: kr128.8m (up kr153.7m from 3Q 2024). Profit margin: 4.2% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Tillkännagivande • Feb 27
Systemair AB (publ) to Report Q3, 2025 Results on Mar 06, 2025 Systemair AB (publ) announced that they will report Q3, 2025 results at 7:00 AM, Central European Standard Time on Mar 06, 2025 Tillkännagivande • Feb 18
Systemair AB (Publ) Announces Nomination Committee Appointments Systemair AB (publ) At the annual general meeting on 29 August 2024, it was resolved that the nomination committee shall consist of representatives of three of the largest shareholders or owner groups in terms of votes, according to Euroclear Sweden AB's printout of the share register as of 31 January 2025. It is hereby announced that after consultation between the company's three largest shareholders, ebm-papst AB has chosen to relinquish their seat on the nomination committee. The fourth largest shareholder Swedbank Robur Fonder has therefore been contacted. The nomination committee has been appointed to consist of the following persons: Magnus Tell (Chairman of the nomination committee), Alecta; Gerald Engström, Färna Invest AB; Lennart Francke, Swedbank Robur Fonder. Price Target Changed • Dec 06
Price target increased by 8.4% to kr101 Up from kr92.75, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of kr95.80. Stock is up 26% over the past year. The company is forecast to post earnings per share of kr3.89 for next year compared to kr3.10 last year. Reported Earnings • Dec 05
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: kr1.14 (down from kr1.18 in 2Q 2024). Revenue: kr3.15b (down 1.3% from 2Q 2024). Net income: kr237.9m (down 2.8% from 2Q 2024). Profit margin: 7.6% (down from 7.7% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 6.8%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Nov 27
Systemair AB (publ) to Report Q2, 2025 Results on Dec 04, 2024 Systemair AB (publ) announced that they will report Q2, 2025 results at 7:00 AM, Central European Standard Time on Dec 04, 2024 Reported Earnings • Aug 30
First quarter 2025 earnings: Revenues miss analyst expectations First quarter 2025 results: Revenue: kr3.11b (down 2.0% from 1Q 2024). Net income: kr209.7m (down 14% from 1Q 2024). Profit margin: 6.7% (down from 7.7% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.1%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Tillkännagivande • Aug 30
Systemair AB (Publ) Approves Dividend, Payable on September 5, 2024 Systemair AB (publ) at the Annual General Meeting held on August 29, 2024 approved dividend of SEK 1.20 per share. The record date was set to September 2, 2024. The dividend will be paid on September 5, 2024 through Euroclear Sweden AB. Declared Dividend • Aug 18
Dividend increased to kr1.20 Dividend of kr1.20 is 9.1% higher than last year. Ex-date: 30th August 2024 Payment date: 5th September 2024 Dividend yield will be 1.6%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 46% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: kr3.10 (down from kr5.00 in FY 2023). Revenue: kr12.3b (up 1.6% from FY 2023). Net income: kr645.6m (down 38% from FY 2023). Profit margin: 5.3% (down from 8.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 05
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: kr3.10 (down from kr5.00 in FY 2023). Revenue: kr12.3b (up 1.6% from FY 2023). Net income: kr645.6m (down 38% from FY 2023). Profit margin: 5.3% (down from 8.6% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Tillkännagivande • May 09
Systemair AB (publ) (OM:SYSR) acquired Phem Engineering Sdn. Bhd. Systemair AB (publ) (OM:SYSR) acquired Phem Engineering Sdn. Bhd. on May 8, 2024. Phem Engineering reported turnover of SEK 47 million for financial year ending in March 2024.Systemair AB (publ) (OM:SYSR) completed the acquisition of Phem Engineering Sdn. Bhd. on May 8, 2024. Buy Or Sell Opportunity • Apr 30
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at kr75.00. The fair value is estimated to be kr61.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 3.8% in 2 years. Earnings are forecast to decline by 21% in the next 2 years. Buy Or Sell Opportunity • Apr 16
Now 21% overvalued Over the last 90 days, the stock has fallen 2.7% to kr74.30. The fair value is estimated to be kr61.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 3.8% in 2 years. Earnings are forecast to decline by 21% in the next 2 years. Buy Or Sell Opportunity • Mar 26
Now 22% overvalued Over the last 90 days, the stock has fallen 4.5% to kr74.70. The fair value is estimated to be kr61.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 3.8% in 2 years. Earnings are forecast to decline by 21% in the next 2 years. Reported Earnings • Mar 06
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: kr0.12 loss per share (down from kr0.79 profit in 3Q 2023). Revenue: kr2.83b (down 7.1% from 3Q 2023). Net loss: kr24.9m (down 115% from profit in 3Q 2023). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Building industry in Sweden. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 25
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to kr79.50. The fair value is estimated to be kr66.17, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 45%. Revenue is forecast to grow by 4.6% in 2 years. Earnings are forecast to decline by 28% in the next 2 years. Board Change • Feb 08
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Gunilla Spongh was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Tillkännagivande • Nov 09
Systemair Discontinues Menerga's Production in Germany Systemair has decided to discontinue the production of the Menerga products in Muelheim an der Ruhr, Germany, in 2024. The factory currently manufactures highly efficient ventilation units for swimming pools, waterparks, and low energy buildings. The production in Muelheim an der Ruhr will be discontinued and in parallel production of Menerga products, in Systemair's existing plant in Slovenia, will be ramped up. The process is expected to be completed in 2024. Resources for product development, sales, and support will remain in Muelheim an der Ruhr. The service business, which is extensive, will remain unchanged. The structural change entails a cost of approximately SEK 125 million for severance pay and impairment of assets, which will be charged to operating profit for the third quarter of 2023. In connection with the changes, the product range is also reviewed, and upgraded to a new common technical platform. Recent Insider Transactions • Oct 29
Key Executive recently bought kr460k worth of stock On the 26th of October, Lars Nolaker bought around 8k shares on-market at roughly kr57.54 per share. This transaction increased Lars' 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 Lars' only on-market trade for the last 12 months. Buying Opportunity • Oct 23
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be kr73.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 4.6% in 2 years. Earnings is forecast to decline by 15% in the next 2 years. 