New Risk • Jun 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr969.0m (US$98.2m) 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 Earnings have declined by 9.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr969.0m market cap, or US$98.2m). Upcoming Dividend • Jun 14
Upcoming dividend of kr8.00 per share Eligible shareholders must have bought the stock before 19 June 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Norwegian dividend payers (7.4%). Lower than average of industry peers (3.2%). Declared Dividend • May 29
Dividend increased to kr8.00 Dividend of kr8.00 is 129% higher than last year. Ex-date: 19th June 2026 Payment date: 30th June 2026 Dividend yield will be 2.0%, which is lower than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Duyuru • May 28
Gyldendal ASA announces Annual dividend, payable on June 30, 2026 Gyldendal ASA announced Annual dividend of NOK 8.0000 per share payable on June 30, 2026, ex-date on June 19, 2026 and record date on June 22, 2026. New Risk • May 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr922.9m (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 Earnings have declined by 9.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr922.9m market cap, or US$99.9m). Reported Earnings • Mar 24
Full year 2025 earnings released: EPS: kr31.69 (vs kr11.05 in FY 2024) Full year 2025 results: EPS: kr31.69 (up from kr11.05 in FY 2024). Revenue: kr2.92b (up 6.8% from FY 2024). Net income: kr81.3m (up 219% from FY 2024). Profit margin: 2.8% (up from 0.9% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Mar 13
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: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (7.0% average weekly change). New Risk • Feb 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 6.7% 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: Major Risk Earnings have declined by 29% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). New Risk • Jan 16
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 7.1% 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 Risk Earnings have declined by 29% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Duyuru • Jan 14
Gyldendal ASA, Annual General Meeting, Jun 18, 2026 Gyldendal ASA, Annual General Meeting, Jun 18, 2026. New Risk • Aug 20
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 6.5% 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 Risk Earnings have declined by 45% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (kr927.5m market cap, or US$90.2m). Upcoming Dividend • Jun 11
Upcoming dividend of kr3.50 per share Eligible shareholders must have bought the stock before 18 June 2025. Payment date: 27 June 2025. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Norwegian dividend payers (9.3%). Lower than average of industry peers (3.5%). Duyuru • May 28
Gyldendal ASA Announces Annual Dividend, Payable on June 27, 2025 Gyldendal ASA announced annual dividend of NOK 3.5000 per share payable on June 27, 2025, ex-date on June 18, 2025 and record date on June 19, 2025. New Risk • Apr 04
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 9.2% 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 Risk Earnings have declined by 45% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (kr807.5m market cap, or US$75.1m). Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr450, the stock trades at a trailing P/E ratio of 40.7x. Average trailing P/E is 18x in the Specialty Retail industry in Europe. Total loss to shareholders of 20% over the past three years. New Risk • Mar 27
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 45% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (kr876.7m market cap, or US$83.6m). Reported Earnings • Mar 24
Full year 2024 earnings released: EPS: kr7.21 (vs kr16.66 loss in FY 2023) Full year 2024 results: EPS: kr7.21 (up from kr16.66 loss in FY 2023). Revenue: kr2.73b (up 2.3% from FY 2023). Net income: kr25.5m (up kr63.9m from FY 2023). Profit margin: 0.9% (up from net loss in FY 2023). 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. New Risk • Mar 16
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 Earnings have declined by 42% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (kr876.7m market cap, or US$82.4m). Board Change • Jan 02
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Director Siri Teigum was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Dec 04
Gyldendal ASA, Annual General Meeting, Jun 17, 2025 Gyldendal ASA, Annual General Meeting, Jun 17, 2025. New Risk • Jul 25
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 6.7% 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: Major Risk Earnings have declined by 27% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (kr1.04b market cap, or US$93.5m). Buy Or Sell Opportunity • Apr 02
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at kr500. The fair value is estimated to be kr645, 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. Meanwhile, the company became loss making. Reported Earnings • Mar 13
Full year 2023 earnings released: kr19.44 loss per share (vs kr8.84 profit in FY 2022) Full year 2023 results: kr19.44 loss per share (down from kr8.84 profit in FY 2022). Revenue: kr2.67b (flat on FY 2022). Net loss: kr38.4m (down 288% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. New Risk • Mar 11
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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 Earnings have declined by 11% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Profit margins are more than 30% lower than last year (0.5% net profit margin). Board Change • Jun 23
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). Director Arild Nysæther was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • May 10
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). Director Arild Nysæther was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). Director Arild Nysæther was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 10
Full year 2022 earnings released Full year 2022 results: Revenue: kr2.68b (up 6.2% from FY 2021). Net income: kr20.4m (down 52% from FY 2021). Profit margin: 0.8% (down from 1.7% in FY 2021). The decrease in margin was driven by higher expenses. Board Change • Jan 10
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). Director Arild Nysæther was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. No independent directors (8 non-independent directors). Director Arild Nysæther was the last director to join the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Jun 01
Upcoming dividend of kr10.00 per share Eligible shareholders must have bought the stock before 08 June 2022. Payment date: 17 June 2022. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Norwegian dividend payers (6.6%). Lower than average of industry peers (4.1%). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. No independent directors (9 non-independent directors). Director Marit Näumann was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: kr18.57 (down from kr35.00 in FY 2020). Revenue: kr2.52b (up 7.6% from FY 2020). Net income: kr42.8m (down 47% from FY 2020). Profit margin: 1.7% (down from 3.4% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 14% per year and the company’s share price has also increased by 14% per year. Upcoming Dividend • May 28
Upcoming dividend of kr10.00 per share Eligible shareholders must have bought the stock before 04 June 2021. Payment date: 15 June 2021. Trailing yield: 1.8%. Lower than top quartile of Norwegian dividend payers (5.1%). Lower than average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 16% share price gain to kr560, the stock is trading at a trailing P/E ratio of 29.6x, up from the previous P/E ratio of 25.5x. This compares to an average P/E of 20x in the Specialty Retail industry in Europe. Total returns to shareholders over the past three years are 59%. Is New 90 Day High Low • Mar 01
New 90-day high: kr550 The company is up 16% from its price of kr476 on 01 December 2020. The Norwegian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 3.0% over the same period. Duyuru • Feb 05
Gyldendal ASA (OB:GYL) entered into letter of intent to acquire Forlagssentralen Ans from H. Aschehoug & Co (W.Nygaard) AS. Gyldendal ASA (OB:GYL) entered into letter of intent to acquire Forlagssentralen Ans from H. Aschehoug & Co (W.Nygaard) AS on February 4, 2021. Is New 90 Day High Low • Dec 30
New 90-day high: kr498 The company is up 6.0% from its price of kr468 on 01 October 2020. The Norwegian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 02
New 90-day low: kr430 The company is down 18% from its price of kr525 on 04 August 2020. The Norwegian market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 2.0% over the same period.