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 2018 2019 2020
Sales 343 310 404
Sales growth (%) 33,7 -9,5 30,2
EBITDA 190 164 196
EBITDA margin (%) 55,5 52,9 48,6
EBIT adj 118 97 129
EBIT adj margin (%) 34,5 31,3 31,9
Pretax profit 28 32 69
EPS rep 0,62 0,76 1,62
EPS growth (%) 111,4 23,1 113,6
EPS adj 0,62 0,76 1,62
DPS 0 0 0
EV/EBITDA (x) 8,1 8,2 6,2
EV/EBIT adj (x) 13 13,8 9,4
P/E (x) 27,6 22,8 10,7
P/E adj (x) 27,6 22,8 10,7
EV/sales (x) 4,5 4,3 3
FCF yield (%) 18,5 45,3 32,6
Dividend yield (%) 0 0 0
Net IB debt/EBITDA 5 4,6 3,2

Main shareholders

Arise

Main shareholders Share capital % Voting shares % Verified
Jan Barchan 15.8 % 15.8 % 30 Jun 2018
Claesson & Anderzén 12.3 % 12.3 % 9 Oct 2018
Tredje AP-fonden 9.7 % 9.7 % 31 Dec 2018
Nordea Liv & Pension 9.2 % 9.2 % 31 Dec 2018
Carlton Telecom Inc 6.7 % 6.7 % 9 Oct 2018
Peter Gyllenhammar 4.5 % 4.5 % 30 Jun 2018
Ernström & C:o AB 4.5 % 4.5 % 31 Dec 2018
Leif Jansson 3.7 % 3.7 % 31 Dec 2018
Olof Andersson 3.6 % 3.6 % 31 Dec 2018
Svenska Handelsbanken AB for PB 3.6 % 3.6 % 31 Dec 2018
Source: Holdings by Modular Finance AB

Insider list

Arise

Name
Joachim Gahm
Joachim Gahm
Joachim Gahm
Linus Hägg
Linus Hägg
Linus Hägg
Linus Hägg
Linus Hägg
Linus Hägg
Linus Hägg
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