Reported Earnings • Apr 22
First quarter 2026 earnings released: EPS: €0.035 (vs €0 in 1Q 2025) First quarter 2026 results: EPS: €0.035 (up from €0 in 1Q 2025). Revenue: €7.19m (down 3.3% from 1Q 2025). Net income: €386.0k (up €382.0k from 1Q 2025). Profit margin: 5.4% (up from 0.1% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €1.17, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Machinery industry in Germany. Total loss to shareholders of 61% over the past three years. Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: €0.021 (vs €0.12 loss in FY 2024) Full year 2025 results: EPS: €0.021 (up from €0.12 loss in FY 2024). Revenue: €28.7m (up 19% from FY 2024). Net income: €233.0k (up €1.55m from FY 2024). Profit margin: 0.8% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Machinery 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 fallen by 25% per year, which means it is performing significantly worse than earnings. New Risk • Feb 20
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risk Market cap is less than US$100m (€16.4m market cap, or US$19.3m). New Risk • Feb 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€987k). Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (€14.9m market cap, or US$17.7m). New Risk • Jan 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.0% 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€987k). Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (€13.3m market cap, or US$15.6m). Reported Earnings • Jul 18
First half 2025 earnings released: EPS: €0.001 (vs €0.04 loss in 1H 2024) First half 2025 results: EPS: €0.001 (up from €0.04 loss in 1H 2024). Revenue: €14.9m (up 14% from 1H 2024). Net income: €8.0k (up €451.0k from 1H 2024). Profit margin: 0.1% (up from net loss in 1H 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. New Risk • Jul 16
New major risk - Revenue and earnings growth Earnings have declined by 78% 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 78% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-€987k). Market cap is less than US$100m (€16.0m market cap, or US$18.7m). New Risk • May 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.7% 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 (8.7% average weekly change). Market cap is less than US$100m (€14.9m market cap, or US$16.8m). New Risk • Feb 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.4% 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 (7.4% average weekly change). Market cap is less than US$100m (€16.1m market cap, or US$16.8m). Reported Earnings • Feb 21
Full year 2024 earnings released Full year 2024 results: Revenue: €24.3m (down 20% from FY 2023). Net loss: €1.32m (loss narrowed 8.4% from FY 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Germany. New Risk • Feb 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€19.3m market cap, or US$20.2m). Duyuru • Dec 21
Norrhydro Group Oyj, Annual General Meeting, Apr 14, 2025 Norrhydro Group Oyj, Annual General Meeting, Apr 14, 2025. Reported Earnings • Aug 06
First half 2024 earnings released: €0.04 loss per share (vs €0.006 profit in 1H 2023) First half 2024 results: €0.04 loss per share (down from €0.006 profit in 1H 2023). Revenue: €13.1m (down 28% from 1H 2023). Net loss: €443.0k (down 426% from profit in 1H 2023). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Machinery industry in Germany. Duyuru • May 30
Norrhydro Group Plc Appoints Mikko Välitalo as the Production Director, Effective August 2024 Norrhydro Group Plc announced that Mikko Välitalo has been appointed as the Production Director of the company. The Production Director's role involves comprehensive leadership and development of the production and manufacturing of Norrhydro Group's products. Throughout his career, Mikko Välitalo has worked in the forestry industry and energy production sectors, holding various responsible positions in these fields. Mikko has substantial experience, particularly in production and maintenance. He brings a wealth of experience and expertise that will strengthen the team and support the growth and development of the company. The Production Director will also be appointed as a member of the group's management team. Mikko Välitalo will start working for the company at the beginning of August 2024. Duyuru • Feb 28
Norrhydro Group plc Announces Appointment of Johanna Kaikkonen as CFO Johanna Kaikkonen has been appointed Norrhydro Group Plc's CFO. Johanna Kaikkonen has been employed by the company since 2008. During her long working career, she has worked in the company in versatile financial management positions and most recently in the position of HR manager and as a member of the management team since 2021. The responsibility of the CFO is to lead and develop the operations of the group's finance and human resources unit. Reported Earnings • Feb 25
Full year 2023 earnings released Full year 2023 results: Revenue: €31.0m (up 4.4% from FY 2022). Net loss: €1.44m (down €1.49m from profit in FY 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Machinery industry in Germany. Duyuru • Feb 23
Norrhydro Group Oyj, Annual General Meeting, Mar 26, 2024 Norrhydro Group Oyj, Annual General Meeting, Mar 26, 2024, at 10:00 Coordinated Universal Time. Location: Ratavartijankatu 2, 96100 Rovaniemi Finland Agenda: To consider approval of the financial statements and consolidated financial statements;to consider Presentation of the financial statements, consolidated financial statements, the Board of Directors’ report and auditor's report for 2023;to consider Use of the profit shown on the balance sheet and deciding on the distribution of assets;to consider Electing the members of the Board of Directors; and to consider other matters. Duyuru • Jan 18
Norrhydro Group plc Announces Resignation of Hanne Sarajärvi as CFO, Effective March 2024 Hanne Sarajärvi, CFO and member of the Management Team of Norrhydro Group Plc, has resigned to take up a new position outside the company. The work at Norrhydro will end in March 2024. Recruitment of new CFO has started. Duyuru • Sep 06
Norrhydro Group Oyj Appoints Carl Mattson as Digital Business Director Norrhydro Group Oyj appointed Carl Mattson as Digital Business Director. Together with the technology team, Carl Mattson will be responsible for digital business customer projects and technology development. The Digital Business Director is also appointed as part of the Group Executive Team. During his career, Carl Mattson has been involved in developing new business and has been responsible for demanding customer projects. He has also been responsible for fast-growing technical sales, customer service and production around the world. Carl Mattson has lived with his family for a long time in India and China. Carl Mattson will strengthen the company's international expertise and commercialization of new technology. Carl Mattson will join the company during September 2023. Duyuru • Sep 01
Norrhydro Group Oyj Announces Resignation of Marko Mylläri as Head of Operations and Member of the Management Team Norrhydro Group Oyj announced Marko Mylläri, Head of Operations and member of the Management Team of Norrhydro Group Plc, has resigned to take up a new position outside the company. The work at Norrhydro will end in November 2023. Marko Mylläri has been working for Norrhydro since 2019 as Head of Operations, Director of Purchasing and R&D. Operations and Purchasing will be the responsibility of the CEO together with the heads of middle management. A new person will be recruited for digital business management as Business Director and with the responsibility together with the technology team for customer projects and R&D development. Reported Earnings • Aug 14
First half 2023 earnings released: EPS: €0.013 (vs €0.072 in 1H 2022) First half 2023 results: EPS: €0.013 (down from €0.072 in 1H 2022). Revenue: €18.3m (up 10% from 1H 2022). Net income: €136.0k (down 83% from 1H 2022). Profit margin: 0.7% (down from 4.7% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in Germany. Duyuru • Jul 13
Norrhydro Group Oyj Revises Earnings Guidance for the Year 2023 Norrhydro Group Oyj revised earnings guidance for the year 2023. For the year, the Group's turnover is forecasted to grow from 2022 turnover (EUR 29.7 Million). Previous guidance for year 2023: The Group´s turnover is expected to be EUR 34 million - EUR 38 million. Duyuru • May 30
Norrhydro Group Oyj Announces CEO Changes Norrhydro Group Plc is starting to recruit a new CEO. The company and the current CEO Matias Parviainen have decided by consensus that he leaves the CEO position immediately. The Company Board has started the recruitement of a new CEO. During the recruitment process Yrjö Trög, the Chairman of the Board will take over the duties of the CEO. Upcoming Dividend • Mar 28
Upcoming dividend of €0.03 per share at 1.9% yield Eligible shareholders must have bought the stock before 04 April 2023. Payment date: 14 April 2023. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.8%). Duyuru • Feb 18
Norrhydro Group Oyj Provides Earnings Guidance for the Year 2023 Norrhydro Group Oyj provided earnings guidance for the year 2023. The Group's turnover is expected to be EUR 34–38 million. 
