Market-leader with focus on cash flow

Arise

Arise is an integrated wind power company managing all stages of the value chain, from project development to the sale of green electricity generated by its own onshore wind turbines. Arise manages ~770 MW with 241 MW own and 529 MW external. Its entirely own wind farms consist of 65 wind turbines of 139 MW, and co-owned farms consist of 33 turbines with a total output of 102 MW (50% ownership). Additionally, the company has an extensive project portfolio of 800 MW in Sweden. The shares are listed on Nasdaq OMX Small Cap.

Financials

ARISE

SEKm 2017 2018 2019
Sales 257 233 250
Sales growth (%) -56,7 -9,3 7,6
EBITDA 131 125 129
EBITDA margin (%) 50,9 53,8 51,4
EBIT adj -98 54 61
EBIT adj margin (%) -38,2 23,3 24,3
Pretax profit -178 -24 -3
EPS rep -5,39 -0,69 -0,07
EPS growth (%) -335,5 87,2 89,4
EPS adj -0,84 -0,69 -0,07
DPS 0 0 0
EV/EBITDA (x) 10,8 12,7 12
EV/EBIT adj (x) -14,5 29,4 25,4
P/E (x) -2,4 -26,8 -252,5
P/E adj (x) -15,6 -26,8 -252,5
EV/sales (x) 5,5 6,9 6,2
FCF yield (%) 16,8 14,5 18,3
Dividend yield (%) 0 0 0
Net IB debt/EBITDA 7,5 7,7 7,1

Main shareholders

Arise

Main shareholders Share capital % Voting shares %
Jan Barchan 15.8 % 15.8 %
Claesson & Anderzén 12.3 % 12.3 %
Tredje AP-fonden 9.7 % 9.7 %
Nordea Liv & Pension 9.2 % 9.2 %
Carlton Telecom Inc 6.7 % 6.7 %
Peter Gyllenhammar 4.5 % 4.5 %
Ernström & C:o AB 4.5 % 4.5 %
Leif Jansson 3.7 % 3.7 %
Olof Andersson 3.6 % 3.6 %
Svenska Handelsbanken AB for PB 3.6 % 3.6 %