Duyuru • Apr 01
Verve Group SE, Annual General Meeting, Jun 05, 2026 Verve Group SE, Annual General Meeting, Jun 05, 2026. Recent Insider Transactions • Mar 08
CEO & Director recently bought kr4.2m worth of stock On the 2nd of March, Remco Westermann bought around 288k shares on-market at roughly kr14.69 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Remco has been a buyer over the last 12 months, purchasing a net total of kr17m worth in shares. Recent Insider Transactions • Feb 26
CEO & Director recently bought kr3.2m worth of stock On the 24th of February, Remco Westermann bought around 258k shares on-market at roughly kr12.54 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Remco has been a buyer over the last 12 months, purchasing a net total of kr42m worth in shares. Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: €0.004 (vs €0.17 in FY 2024) Full year 2025 results: EPS: €0.004 (down from €0.17 in FY 2024). Revenue: €568.5m (up 23% from FY 2024). Net income: €695.0k (down 98% from FY 2024). Profit margin: 0.1% (down from 6.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Media industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr16.57, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Media industry in Europe. Total loss to shareholders of 13% over the past three years. Duyuru • Jan 27
Verve Group SE Provides Earnings Guidance for 2026 Verve Group SE provided earnings guidance for 2026. On a conservative basis, the company expects revenue for fiscal year 2026 in a range of EUR 680 million to EUR 730 million. New Risk • Jan 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 Swedish stocks, typically moving 8.3% 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 Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Duyuru • Jan 24
Verve Group SE unveils Verve for Advertisers, Its New Unified Brand for Its Activities with Brands and Advertisers Verve Group SE unveiled Verve For Advertisers, its new unified brand for its activities with brands and advertisers. Verve brings together the company's brand and agency capabilities by combining the strengths of Jun Group and Captify into a single, powerful branded offering in the US market. Due to the strong brand recognition Captify has built locally, Captify UK and Australia will continue to operate as Captify in those markets. With the launch of Verve For Ad advertisers, Verve is further consolidating its strategy for brands and advertisers, uniting its omnichannel ad solutions under one advertiser-facing brand. At its core, Verve For Advertisers combines Verve's proprietary data assets with AI-driven decisioning technology to empower brands and agencies to achieve stronger, more measurable outcomes across the marketing funnel. Reported Earnings • Nov 19
Third quarter 2025 earnings released: €0.018 loss per share (vs €0.041 profit in 3Q 2024) Third quarter 2025 results: €0.018 loss per share (down from €0.041 profit in 3Q 2024). Revenue: €145.1m (up 21% from 3Q 2024). Net loss: €3.58m (down 147% from profit in 3Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Media industry in Europe. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr17.99, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Media industry in Europe. Total loss to shareholders of 7.3% over the past three years. Duyuru • Sep 19
Verve Group SE (XTRA:M8G) agreed to acquire an unknown majority stake in Captify Technologies Ltd. for €25.6 million. Verve Group SE (XTRA:M8G) agreed to acquire an unknown majority stake in Captify Technologies Ltd. for €25.6 million on September 17, 2025. The transaction is structured with a €16.2 million cash consideration within 6 weeks of closing, and an additional deferred cash consideration of €9.4 million 18 months after closing.
The total purchase price of €25.6 million reflects an EBITDA multiple of about 7x before synergies, respectively about 5x after synergies. Captify’s team will be integrated into Verve’s commercial brand and agency, technology and product teams, leading to substantial revenue and cost synergies of about €1.6 million per year. Mike Welch will step down from his role as Chief Executive Officer of Captify and will assume the role of a strategic advisor.
Davis & Gilbert acted as legal advisor for Verve Group SE. Bristows LLP acted as legal advisor for Verve Group SE. Houlihan Lokey UK Limited acted as financial advisor for Captify Technologies Ltd. Squire Sanders LLP acted as legal advisor for Captify Technologies Ltd. Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to kr25.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Media industry in Europe. Total returns to shareholders of 42% over the past three years. Duyuru • Sep 17
Verve Group SE (XTRA:M8G) signed an agreement to acquire acardo technologies AG from Vectron Systems AG (LSE:0W1I) for €24.5 million. Verve Group SE (XTRA:M8G) signed an agreement to acquire acardo technologies AG from Vectron Systems AG (LSE:0W1I) for €24.5 million on September 16, 2025. The total purchase price of €24.5 million reflects an EBITDA multiple of about 6 x EBITDA before synergies, respectively about 4 x EBITDA after synergies. Given the technological setup of Acardo, the seamless integration of the company’s technology under the existing management structure will not lead to the requirement of a technological integration. The transaction is structured with a €17.2 million cash consideration at closing as well as an additional €7.3 million differed cash consideration 12 months after closing. Vectron Systems AG will receive a purchase price of €24.5 million plus cash holdings and other purchase price adjustments from the sale. It should be noted that various payments are to be made by Vectron from the purchase price. These mainly relate to earn-out claims and seller loans from the former shareholders of acardo group AG, as well as an intercompany loan from acardo group AG to Vectron Systems AG. The expected completion of the transaction is October 1, 2025. Recent Insider Transactions • Aug 21
Independent Non-Executive Director recently bought kr111k worth of stock On the 15th of August, Franca Ruhwedel bought around 6k shares on-market at roughly kr20.24 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr5.8m. Insiders have collectively bought kr41m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: €0.002 (vs €0.038 in 2Q 2024) Second quarter 2025 results: EPS: €0.002 (down from €0.038 in 2Q 2024). Revenue: €112.2m (up 9.1% from 2Q 2024). Net income: €399.0k (down 94% from 2Q 2024). Profit margin: 0.4% (down from 6.1% in 2Q 2024). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Media industry in Sweden. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to kr20.20, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 3x in the Media industry in Sweden. Total loss to shareholders of 22% over the past three years. Duyuru • Jul 18
Verve Group SE Announces Executive Changes, Effective by 30 July, 2025 Verve Group SE announced key additions and transitions within its executive leadership team. The company announced appointment of Mishel Alon – Chief Business Officer (CBO). Focus on demand side, DSP and Brand and Agencies commerce and operations; (previously CEO of Verve’s latest acquisition Jun Group). Prasanna Prasad – Chief Technology Officer (CTO)- Focus on engineering, platforms, infrastructure, data and AI for the Group; (previously CTO supply side); David Philippson – Chief Product Officer (CPO)-Focus on product development and innovation for the Group; (previously Founder and CEO of Verve’s DSP Dataseat). Alex Stil – Chief Strategy Officer (CSO)- Focus on corporate strategy, strategic cooperations, integrations and marketing. After nearly 15 years with the company, Jens Knauber, current COO of Verve Group and responsible for Verve’s O&O business, will step down as COO of Verve and CEO of gamigo. The changes of the executive team have been decided by the board and will be implemented by 30 July. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr32.38, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 4x in the Media industry in Sweden. Total returns to shareholders of 45% over the past three years. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Alexander Doll was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jun 22
CEO & Director recently bought kr10m worth of stock On the 18th of June, Remco Westermann bought around 375k shares on-market at roughly kr27.95 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Remco has been a buyer over the last 12 months, purchasing a net total of kr45m worth in shares. Duyuru • Jun 18
Verve Group SE has completed a Follow-on Equity Offering in the amount of SEK 360.024 million. Verve Group SE has completed a Follow-on Equity Offering in the amount of SEK 360.024 million.
Security Name: A Shares
Security Type: Common Stock
Securities Offered: 12,858,000
Price\Range: SEK 28
Transaction Features: Subsequent Direct Listing Duyuru • Jun 11
Verve Group SE Elects Alexander Doll as New Member of the Board of Directors Verve Group SE at its annual general meeting held on 11 June 2025, elected Alexander Doll as a new member of the board of directors for the period until the close of the annual general meeting 2026. Recent Insider Transactions • Jun 04
Independent Non-Executive Director recently bought kr217k worth of stock On the 29th of May, Franca Ruhwedel bought around 6k shares on-market at roughly kr34.43 per share. This transaction increased Franca's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr34m more in shares than they have sold in the last 12 months. Reported Earnings • May 30
First quarter 2025 earnings released: EPS: €0.001 (vs €0.004 in 1Q 2024) First quarter 2025 results: EPS: €0.001 (down from €0.004 in 1Q 2024). Revenue: €115.1m (up 29% from 1Q 2024). Net income: €186.0k (down 69% from 1Q 2024). Profit margin: 0.2% (down from 0.7% in 1Q 2024). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Media industry in Sweden. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 28
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to kr34.24, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Media industry in Sweden. Total returns to shareholders of 3.8% over the past three years. New Risk • May 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 Swedish stocks, typically moving 9.8% 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 Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.2% net profit margin). Shareholders have been diluted in the past year (18% increase in shares outstanding). Duyuru • May 10
Verve Group SE, Annual General Meeting, Jun 11, 2025 Verve Group SE, Annual General Meeting, Jun 11, 2025, at 09:30 W. Europe Standard Time. Location: at the premises of gernandt & danielsson, hamngatan 2, stockholm Sweden Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to kr34.66, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Media industry in Europe. Total returns to shareholders of 2.1% over the past three years. Recent Insider Transactions • Apr 14
Independent Chairman of the Board recently bought kr140k worth of stock On the 7th of April, Tobias Weitzel bought around 5k shares on-market at roughly kr28.05 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr29m. This was Tobias' only on-market trade for the last 12 months. Reported Earnings • Apr 09
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: €0.17 (down from €0.29 in FY 2023). Revenue: €461.9m (up 33% from FY 2023). Net income: €28.8m (down 38% from FY 2023). Profit margin: 6.2% (down from 13% in FY 2023). Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 6.7%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Media industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Duyuru • Apr 08
Verve Group SE Provides Earnings Guidance for the Year 2025 Verve Group SE provided earnings guidance for the year 2025. For the year, the company expects revenue CAGR of 25% to 30% and expect meaningful double-digit organic growth for 2025. Recent Insider Transactions • Mar 05
CEO & Director recently bought kr29m worth of stock On the 3rd of March, Remco Westermann bought around 780k shares on-market at roughly kr37.69 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. Remco has been a buyer over the last 12 months, purchasing a net total of kr34m worth in shares. Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: €0.15 (vs €0.29 in FY 2023) Full year 2024 results: EPS: €0.15 (down from €0.29 in FY 2023). Revenue: €479.7m (up 38% from FY 2023). Net income: €28.8m (down 38% from FY 2023). Profit margin: 6.0% (down from 13% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Media industry in Europe. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 11
Verve Group SE to Report Q3, 2025 Results on Nov 18, 2025 Verve Group SE announced that they will report Q3, 2025 results on Nov 18, 2025 Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr34.40, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Media industry in Sweden. Total loss to shareholders of 3.2% over the past three years. New Risk • Jan 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 Swedish stocks, typically moving 8.3% 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 Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (17% increase in shares outstanding). Recent Insider Transactions • Dec 12
CEO & Director recently bought kr1.1m worth of stock On the 6th of December, Remco Westermann bought around 28k shares on-market at roughly kr41.18 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Remco has been a buyer over the last 12 months, purchasing a net total of kr4.3m worth in shares. Reported Earnings • Nov 29
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: €0.041 (down from €0.25 in 3Q 2023). Revenue: €135.7m (up 60% from 3Q 2023). Net income: €7.63m (down 81% from 3Q 2023). Profit margin: 5.6% (down from 46% in 3Q 2023). Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Media industry in Sweden. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Duyuru • Nov 28
Verve Group SE Announces CFO Changes Verve Group SE announced that Paul Echt will step down from his role as CFO as of December 31, 2024. Christian Duus, former CFO of Adform, has been appointed CFO, effective January 1, 2025. Christian Duus is an experienced CFO, who has worked in the ad-tech sector as CFO of Adform and previously as a management consultant for Bain & Company. He will begin his role on January 1, 2025. Paul Echt will remain in an advisory role within Verve during the first half of 2025 to ensure a smooth transition to the new CFO. Paul will advise on audit-related matters and the potential refinancing of the outstanding debt at significantly improved terms during the transition. During his time as CFO, Paul enabled, through his financing expertise, essential investments and practiced robust financial discipline, which together helped the company grow its revenues by more than tenfold while increasing its profits by more than twentyfold. Before joining Verve, Christian Duus was with Adform, where he first held the role of Senior Vice President of Corporate Development and Commercial Operations from 2015 until he took over as CFO in 2019. He brings more than 20 years of experience in international strategy formulation, business development, financial analysis, and operational execution. Prior to Adform, Christian worked for many years in management consulting for Bain & Company and held executive business development positions with publicly listed companies GN Store Nord and North Media. Christian is based in Stockholm and holds a master’s degree in business administration, finance, and accounting from Copenhagen Business School. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr45.20, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 20x in the Media industry in Sweden. Total loss to shareholders of 12% over the past three years. New Risk • Sep 08
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 8.4% 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: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (17% increase in shares outstanding). Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: €0.038 (vs €0.011 in 2Q 2023) Second quarter 2024 results: EPS: €0.038 (up from €0.011 in 2Q 2023). Revenue: €103.3m (up 25% from 2Q 2023). Net income: €6.26m (up 259% from 2Q 2023). Profit margin: 6.1% (up from 2.1% in 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Media industry in Sweden. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. New Risk • Aug 06
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 8.6% 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: Major Risk Interest payments are not well covered by earnings (0.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (17% increase in shares outstanding). Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr24.80, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Media industry in Sweden. Total loss to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr30.75, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 27x in the Media industry in Sweden. Total loss to shareholders of 48% over the past three years. Duyuru • Jul 04
Verve Group Se Appoints Alex Stil as Chief Commercial Officer Verve Group SE announced the appointment of Alex Stil as its new Chief Commercial Officer who will lead the expansion of the demand side business. Alex brings extensive experience in digital media, brand management and agency ecosystems, positioning him as a pivotal addition to Verve's leadership team. Alex's career spans as a serial digital entrepreneur and a results-driven business leader, with notable achievements in digital media and ad technology. At GroupM, as President of GroupM Services EMEA, he managed 2,500+ people and led digital activation across 40 markets for brands such as Unilever, Nike, Google, Ford and Vodafone, achieving amongst others significant 40%+ growth in billings in a challenging Covid19 period. His leadership in transforming large-scale organizations and fostering enterprise-scale services will be instrumental in advancing Verve's demand-side business, particularly following the recent acquisition of Jun Group, which significantly expanded Verve's demand-side capabilities. Alex's responsibilities include streamlining Verve's product portfolio by managing the company's DSP, unique supply and data, curated deals, cookie less solutions, and creative services. In line with our mission ‘let’s make media better’ Alex will focus on delivering clear and consistent solutions tailored specifically for agencies and brands, thereby enabling better advertising outcomes. Next to product enhancement, Alex will also prioritize enhancing client experiences to foster long-term loyalty and maximize client satisfaction. This involves refining onboarding processes, improving customer support, and implementing proactive engagement strategies. Furthermore, Alex will spearhead initiatives to expand Verve's market presence, including identifying new markets, nurturing high-value prospects, and boosting brand visibility. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Greg Coleman was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to kr22.50, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 22x in the Media industry in Sweden. Total loss to shareholders of 59% over the past three years. Recent Insider Transactions • Jun 23
CEO & Director recently bought kr22m worth of stock On the 19th of June, Remco Westermann bought around 1m shares on-market at roughly kr16.72 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Remco has been a buyer over the last 12 months, purchasing a net total of kr36m worth in shares. New Risk • Jun 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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 Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings are forecast to decline by an average of 0.4% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (17% increase in shares outstanding). Duyuru • Jun 14
MGI - Media and Games Invest SE Approves Board Appointments MGI - Media and Games Invest SE at its AGM held on June 13, 2024, elected Greg Coleman and Peter Huijboom as new members of the board of directors for the period until the close of the annual general meeting 2025. Duyuru • May 08
MGI - Media and Games Invest Se Provides Earnings Guidance for 2024 MGI - Media and Games Invest SE provided earnings guidance for 2024. For the year, company expects Revenue to be €350 million - €370 million. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: €0.004 (vs €0.005 in 1Q 2023) First quarter 2024 results: EPS: €0.004 (down from €0.005 in 1Q 2023). Revenue: €90.2m (up 19% from 1Q 2023). Net income: €603.0k (down 27% from 1Q 2023). Profit margin: 0.7% (down from 1.1% in 1Q 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Media industry in Sweden. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr22.40, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 18x in the Media industry in Sweden. Total loss to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr42.88 per share. Duyuru • Apr 30
MGI - Media and Games Invest SE Releases On-Device Targeting-AI ATOM 3.0 to 10,000+ Apps MGI - Media and Games Invest SE announced the release of ATOM 3.0, an industry-first on-device targeting solution for iOS that gives mobile marketers the ability to meaningfully predict the traits of anonymous users in a privacy compliant manner, providing a significant competitive advantage in an ecosystem where 75% of iOS users opt out of tracking, with a similar trend predicted on Android. By utilizing cutting-edge on-device AI technology, ATOM processes mobile device signals and real-world context to predict user traits and classify them into cohorts, providing advertisers with the tools needed to deliver highly personalized advertising experiences while ensuring full compliance with privacy regulations. Originally launched in 2021, ATOM 3.0 is now seamlessly integrated with MGI's HyBid SDK. The HyBid SDK provides advertisers with access to over 1.5 billion users across more than 10,000 apps worldwide. This unparalleled scale makes ATOM 3.0 the only currently available scalable solution for targeting ID-less users on mobile, ensuring that advertisers and publishers can maintain addressability and engagement with their audience while respecting user choice. To foster widespread adoption and maximize its impact across the digital advertising ecosystem, ATOM 3.0 will be made available for free for publishers and advertisers at the start, whereas based on substantially improved targeting possibilities, higher CPM's will be achieved. By analyzing a wide array of device signals and real-world contexts, such as app usage pattern, session duration, session depth, gestures, screen brightness and more, ATOM 3.0's sophisticated on-device machine learning models offer cohorts spanning across 10 key categories, including Behavioral, Demographic, Mobility, attention, Engagement, and also can classify users into special cohorts like "Tech Enthusiasts", "Active Gamers", "Health and Fitness Advocates", and "Frequent Shoppers" without user data ever leaving the device. Ad requests can be enriched with the cohorts to help advertisers make better decisions when IDs are available. This method provides advertisers with the tools needed to delivering highly personalized advertising experiences while ensuring fully compliance with privacy regulations, as no personal identifying information is transferred to third parties. As the digital advertising ecosystem grapples with the disappearance of traditional identifiers, the integration of ATOM 3.0 into MGI's Hybid SDK emerges as the only currently available scalable solution designed to future-proof advertising strategies against evolving privacy regulations and shifting consumer expectations. Reported Earnings • Apr 21
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: €0.29 (up from €0.13 loss in FY 2022). Revenue: €347.9m (down 1.5% from FY 2022). Net income: €46.7m (up €67.0m from FY 2022). Profit margin: 13% (up from net loss in FY 2022). Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Media industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr21.25, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 9x in the Media industry in Sweden. Total loss to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr17.50, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 9x in the Media industry in Sweden. Total loss to shareholders of 50% over the past three years. Recent Insider Transactions • Mar 15
Independent Director recently sold kr563k worth of stock On the 13th of March, Elizabeth Para sold around 36k shares on-market at roughly kr15.71 per share. This transaction amounted to 2.4% 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 kr18m more than they sold in the last 12 months. Reported Earnings • Mar 03
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: €0.29 (up from €0.13 loss in FY 2022). Revenue: €419.4m (up 19% from FY 2022). Net income: €46.7m (up €67.0m from FY 2022). Profit margin: 11% (up from net loss in FY 2022). Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Media industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr12.90, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Media industry in Sweden. Total loss to shareholders of 66% over the past three years. Recent Insider Transactions • Dec 18
CEO & Director recently bought kr1.6m worth of stock On the 12th of December, Remco Westermann bought around 155k shares on-market at roughly kr10.14 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr2.2m. Remco has been a buyer over the last 12 months, purchasing a net total of kr21m worth in shares. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr9.79, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Media industry in Europe. Total loss to shareholders of 46% over the past three years. New Risk • Dec 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risks Interest payments are not well covered by earnings (0.6x net interest cover). Earnings are forecast to decline by an average of 6.0% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Dec 01
Third quarter 2023 earnings released: EPS: €0.25 (vs €0.02 in 3Q 2022) Third quarter 2023 results: EPS: €0.25 (up from €0.02 in 3Q 2022). Revenue: €149.1m (up 56% from 3Q 2022). Net income: €39.3m (up €36.1m from 3Q 2022). Profit margin: 26% (up from 3.3% in 3Q 2022). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Media industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Oct 30
CEO & Director recently bought kr945k worth of stock On the 26th of October, Remco Westermann bought around 99k shares on-market at roughly kr9.52 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr1.2m. Remco has been a buyer over the last 12 months, purchasing a net total of kr18m worth in shares. Duyuru • Oct 28
MGI - Media and Games Invest SE Announces Appointment of Nomination Committee MGI - Media and Games Invest SE announced that the members of the Nomination Committee have been appointed. The Nomination Committee for the 2024 Annual General Meeting consists of the following members: Tobias M. Weitzel, chairman of the board. Dr. Gabriel Recnik, appointed by Bodhivas GmbH holding 27.1% of the shares and votes on August 31, 2023. Hermann Dambach, appointed by Oaktree Capital Management holding 17.7% of the shares and votes on August 31, 2023. Anthony Gordon, appointed by and representing a group of shareholders (acting in concert) holding 8.4% of the shares and votes on August 31, 2023 and consisting of: Trend Finanzanalysen GmbH, Smile Autovermietung GmbH, T.E.L.L. Verwaltungs GmbH, Dawn Fitzpatrick, Sebastian Krüper, Anthony Gordon, and other private shareholders. Recent Insider Transactions • Oct 12
CEO & Director recently bought kr23m worth of stock On the 9th of October, Remco Westermann bought around 42k shares on-market at roughly kr557 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Remco has been a buyer over the last 12 months, purchasing a net total of kr39m worth in shares. Recent Insider Transactions • Sep 27
CEO & Director recently bought kr1.2m worth of stock On the 21st of September, Remco Westermann bought around 86k shares on-market at roughly kr13.57 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr4.7m. Remco has been a buyer over the last 12 months, purchasing a net total of kr17m worth in shares. Recent Insider Transactions • Sep 17
CEO & Director recently bought kr643k worth of stock On the 13th of September, Remco Westermann bought around 50k shares on-market at roughly kr12.86 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr4.7m. Remco has been a buyer over the last 12 months, purchasing a net total of kr15m worth in shares. Duyuru • Sep 02
MGI - Media and Games Invest SE Provides Financial Guidance for 2023 MGI - Media and Games Invest SE provided financial guidance for 2023. for the period, the company expecting 2023 Revenue at 2022 levels, normalized for divestments (EUR 9 million) and FX (EUR 12 million). Upside from Organic Revenue Growth in H2 2023 as mid-term outlook for programmatic advertising remains strong. Duyuru • Sep 01
MGI - Media and Games Invest SE to Report Q4, 2023 Results on Feb 29, 2024 MGI - Media and Games Invest SE announced that they will report Q4, 2023 results on Feb 29, 2024 Reported Earnings • Sep 01
Second quarter 2023 earnings: Revenues miss analyst expectations Second quarter 2023 results: Revenue: €83.6m (down 1.3% from 2Q 2022). Net income: €1.74m (down 43% from 2Q 2022). Profit margin: 2.1% (down from 3.6% in 2Q 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Media industry in Sweden. Recent Insider Transactions • Jul 20
CEO & Director recently bought kr1.2m worth of stock On the 14th of July, Remco Westermann bought around 88k shares on-market at roughly kr13.94 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr4.7m. Remco has been a buyer over the last 12 months, purchasing a net total of kr17m worth in shares. Recent Insider Transactions • Jul 06
CEO & Director recently bought kr4.7m worth of stock On the 3rd of July, Remco Westermann bought around 446k shares on-market at roughly kr10.52 per share. This transaction amounted to 1.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Remco has been a buyer over the last 12 months, purchasing a net total of kr15m worth in shares. Recent Insider Transactions • Jun 05
CEO & Director recently bought kr1.7m worth of stock On the 1st of June, Remco Westermann bought around 135k shares on-market at roughly kr12.68 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr2.1m. Remco has been a buyer over the last 12 months, purchasing a net total of kr10m worth in shares. Reported Earnings • Jun 01
First quarter 2023 earnings released First quarter 2023 results: Revenue: €77.4m (up 6.9% from 1Q 2022). Net income: €825.0k (down 68% from 1Q 2022). Profit margin: 1.1% (down from 3.5% in 1Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Entertainment industry in Sweden. Recent Insider Transactions • May 04
CEO & Director recently bought kr1.1m worth of stock On the 28th of April, Remco Westermann bought around 75k shares on-market at roughly kr14.03 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr2.1m. Remco has been a buyer over the last 12 months, purchasing a net total of kr8.4m worth in shares. Reported Earnings • May 02
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: €0.13 loss per share (down from €0.11 profit in FY 2021). Revenue: €353.4m (up 28% from FY 2021). Net loss: €20.3m (down 227% from profit in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Entertainment industry in Sweden. 
