New Risk • Feb 21
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 68% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (68% net debt to equity). Market cap is less than US$100m (kr524.2m market cap, or US$57.9m). Reported Earnings • Feb 21
Second quarter 2026 earnings released: EPS: kr0.42 (vs kr0.21 in 2Q 2025) Second quarter 2026 results: EPS: kr0.42 (up from kr0.21 in 2Q 2025). Revenue: kr397.8m (up 55% from 2Q 2025). Net income: kr5.30m (up 93% from 2Q 2025). Profit margin: 1.3% (up from 1.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 17
Now 24% overvalued Over the last 90 days, the stock has fallen 6.3% to kr38.40. The fair value is estimated to be kr30.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Dec 11
Upcoming dividend of kr1.90 per share Eligible shareholders must have bought the stock before 18 December 2025. Payment date: 29 December 2025. Payout ratio is on the higher end at 86%, and the cash payout ratio is above 100%. Trailing yield: 9.7%. Within top quartile of Swedish dividend payers (4.0%). Higher than average of industry peers (2.6%). Recent Insider Transactions • Nov 25
Director recently sold kr2.3m worth of stock On the 21st of November, Niklas Palsson sold around 50k shares on-market at roughly kr45.00 per share. This transaction amounted to 2.3% 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 the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 21
First quarter 2026 earnings released: EPS: kr0.56 (vs kr0.14 loss in 1Q 2025) First quarter 2026 results: EPS: kr0.56 (up from kr0.14 loss in 1Q 2025). Revenue: kr369.5m (up 50% from 1Q 2025). Net income: kr7.90m (up kr9.69m from 1Q 2025). Profit margin: 2.1% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Declared Dividend • Oct 17
Final dividend of kr1.90 announced Shareholders will receive a dividend of kr1.90. Ex-date: 18th December 2025 Payment date: 29th December 2025 Dividend yield will be 12%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not covered by earnings (117% earnings payout ratio). However, it is covered by cash flows (84% cash payout ratio). The dividend has increased by an average of 190% per year over the past 2 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 29% to bring the payout ratio under control. However, EPS has declined by 3.2% over the last 5 years so the company would need to reverse this trend. New Risk • Sep 14
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 117% Dividend yield: 11% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 9.8% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (117% payout ratio). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (kr531.8m market cap, or US$57.0m). Reported Earnings • Aug 31
Full year 2025 earnings released: EPS: kr1.46 (vs kr0.57 in FY 2024) Full year 2025 results: EPS: kr1.46 (up from kr0.57 in FY 2024). Revenue: kr1.23b (up 46% from FY 2024). Net income: kr20.5m (up 213% from FY 2024). Profit margin: 1.7% (up from 0.8% 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 89% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 23
Third quarter 2025 earnings released: EPS: kr0.59 (vs kr0.56 in 3Q 2024) Third quarter 2025 results: EPS: kr0.59 (up from kr0.56 in 3Q 2024). Revenue: kr362.1m (up 68% from 3Q 2024). Net income: kr8.31m (up 28% from 3Q 2024). Profit margin: 2.3% (down from 3.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 29
Cedergrenska AB (publ) (OM:CEDER) agreed to acquire Skärgårdsgymnasiet. Cedergrenska AB (publ) (OM:CEDER) agreed to acquire Skärgårdsgymnasiet on April 28, 2025.
The expected completion of the transaction is July 1, 2025. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr31.40, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 18x in the Consumer Services industry in Europe. Total returns to shareholders of 44% over the past three years. Upcoming Dividend • Apr 08
Upcoming dividend of kr2.50 per share Eligible shareholders must have bought the stock before 15 April 2025. Payment date: 23 April 2025. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Swedish dividend payers (4.6%). Lower than average of industry peers (2.4%). New Risk • Feb 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 21% This is considered a minor 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 Risk Earnings have declined by 37% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (kr477.5m market cap, or US$45.0m). Reported Earnings • Feb 24
Second quarter 2025 earnings released: EPS: kr1.22 (vs kr0.80 in 2Q 2024) Second quarter 2025 results: EPS: kr1.22 (up from kr0.80 in 2Q 2024). Revenue: kr257.4m (up 15% from 2Q 2024). Net income: kr2.75m (up kr2.58m from 2Q 2024). Profit margin: 1.1% (up from 0.1% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 09
Upcoming dividend of kr0.57 per share Eligible shareholders must have bought the stock before 16 December 2024. Payment date: 20 December 2024. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Swedish dividend payers (4.5%). In line with average of industry peers (2.2%). Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr30.80, the stock trades at a trailing P/E ratio of 54.4x. Average trailing P/E is 23x in the Consumer Services industry in Europe. Total loss to shareholders of 16% over the past three years. Reported Earnings • Aug 30
Full year 2024 earnings released: EPS: kr0.57 (vs kr0.60 loss in FY 2023) Full year 2024 results: EPS: kr0.57 (up from kr0.60 loss in FY 2023). Revenue: kr907.9m (up 11% from FY 2023). Net income: kr6.57m (up kr13.6m from FY 2023). Profit margin: 0.7% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Duyuru • Aug 30
Cedergrenska AB (publ), Annual General Meeting, Dec 05, 2025 Cedergrenska AB (publ), Annual General Meeting, Dec 05, 2025. Reported Earnings • May 28
Third quarter 2024 earnings released: EPS: kr0.56 (vs kr0.01 loss in 3Q 2023) Third quarter 2024 results: EPS: kr0.56 (up from kr0.01 loss in 3Q 2023). Revenue: kr229.6m (up 10% from 3Q 2023). Net income: kr6.51m (up kr6.63m from 3Q 2023). Profit margin: 2.8% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Duyuru • May 26
Cedergrenska AB (publ), Annual General Meeting, Dec 05, 2024 Cedergrenska AB (publ), Annual General Meeting, Dec 05, 2024. Reported Earnings • Feb 23
Second quarter 2024 earnings released: EPS: kr0.014 (vs kr0.06 in 2Q 2023) Second quarter 2024 results: EPS: kr0.014 (down from kr0.06 in 2Q 2023). Revenue: kr237.9m (up 16% from 2Q 2023). Net income: kr164.0k (down 77% from 2Q 2023). Profit margin: 0.1% (down from 0.3% in 2Q 2023). The decrease in margin was driven by higher expenses. New Risk • Feb 07
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 Swedish stocks, typically moving 8.8% 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 73% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (kr145.0m market cap, or US$13.8m). Reported Earnings • Nov 24
First quarter 2024 earnings released: kr0.53 loss per share (vs kr0.31 loss in 1Q 2023) First quarter 2024 results: kr0.53 loss per share (further deteriorated from kr0.31 loss in 1Q 2023). Revenue: kr212.0m (up 8.0% from 1Q 2023). Net loss: kr6.16m (loss widened 74% from 1Q 2023). New Risk • Sep 29
New major risk - Revenue and earnings growth Earnings have declined by 42% 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 42% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr134.6m market cap, or US$12.3m). Reported Earnings • Sep 03
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: kr0.60 loss per share (down from kr0.19 profit in FY 2022). Revenue: kr878.7m (up 20% from FY 2022). Net loss: kr6.99m (down 410% from profit in FY 2022). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Consumer Services industry in Sweden. Reported Earnings • May 28
Third quarter 2023 earnings released: kr0.01 loss per share (vs kr0.48 profit in 3Q 2022) Third quarter 2023 results: kr0.01 loss per share (down from kr0.48 profit in 3Q 2022). Revenue: kr222.8m (up 16% from 3Q 2022). Net loss: kr120.0k (down 102% from profit in 3Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Services industry in Sweden. Reported Earnings • Feb 26
Second quarter 2023 earnings released: EPS: kr0.06 (vs kr0.092 in 2Q 2022) Second quarter 2023 results: EPS: kr0.06 (down from kr0.092 in 2Q 2022). Revenue: kr223.4m (up 28% from 2Q 2022). Net income: kr697.0k (down 35% from 2Q 2022). Profit margin: 0.3% (down from 0.6% in 2Q 2022). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Services industry in Sweden. Major Estimate Revision • Dec 01
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from kr896.0m to kr882.5m. Now expected to report a loss of kr0.47 per share instead of kr0.95 per share profit previously forecast. Consumer Services industry in Sweden expected to see average net income growth of 45% next year. Consensus price target of kr40.50 unchanged from last update. Share price fell 13% to kr15.40 over the past week. Reported Earnings • Nov 26
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: kr0.31 loss per share (down from kr0.46 profit in 1Q 2022). Revenue: kr207.9m (up 23% from 1Q 2022). Net loss: kr3.54m (down 178% from profit in 1Q 2022). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Consumer Services industry in Sweden. Board Change • Nov 16
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Chairman of the Board Christian Drougge is the most experienced director on the board, commencing their role in 2015. Independent Director Madeleine Silverberg was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Board Change • Sep 22
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Chairman of the Board Christian Drougge is the most experienced director on the board, commencing their role in 2015. Independent Director Madeleine Silverberg was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Major Estimate Revision • Sep 03
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from kr862.0m to kr896.0m. EPS estimate fell from kr1.74 to kr0.95 per share. Net income forecast to grow 118% next year vs 61% growth forecast for Consumer Services industry in Sweden. Consensus price target up from kr39.50 to kr40.50. Share price was steady at kr18.55 over the past week. Major Estimate Revision • May 26
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from kr769.0m to kr751.0m. EPS estimate also fell from kr1.44 per share to kr1.27 per share. Net income forecast to grow 241% next year vs 19% growth forecast for Consumer Services industry in Sweden. Consensus price target down from kr41.00 to kr39.50. Share price was steady at kr22.70 over the past week. Reported Earnings • May 23
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: EPS: kr0.48 (down from kr0.96 in 3Q 2021). Revenue: kr206.3m (up 37% from 3Q 2021). Net income: kr5.57m (down 36% from 3Q 2021). Profit margin: 2.7% (down from 5.8% in 3Q 2021). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 14%. Over the next year, revenue is forecast to grow 22%, compared to a 55% growth forecast for the industry in Sweden. Major Estimate Revision • Mar 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from kr1.60 to kr1.44 per share. Revenue forecast steady at kr769.0m. Net income forecast to grow 144% next year vs 23% growth forecast for Consumer Services industry in Sweden. Consensus price target down from kr46.50 to kr41.00. Share price fell 9.3% to kr22.55 over the past week. Reported Earnings • Mar 02
Second quarter 2022 earnings: Revenues miss analyst expectations Second quarter 2022 results: Revenue: kr186.9m (flat on 2Q 2021). Net income: kr1.07m (up kr1.07m from 2Q 2021). Profit margin: 0.6% (up from null in 2Q 2021). Revenue missed analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 23%, compared to a 24% growth forecast for the industry in Sweden. Duyuru • May 25
Cedergrenska AB (publ) has completed an IPO in the amount of SEK 130 million. Cedergrenska AB (publ) has completed an IPO in the amount of SEK 130 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 2,600,000
Price\Range: SEK 50