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Nyhetsflöde Northbaze Group

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2/23/2024 11:48:19 AM - Northbaze: Heading into 2024 with excitement - Redeye - Redeye updates on Northbaze following Q4 results, which were weaker than expected on the topline but in line with our EBITDA forecasts. With the acquisition of Skalhuset last December, Redeye anticipates an exciting 2024 for Northbaze. The company's outlook remains uncertain due to persistent challenges in the market, leading to adjustments in our estimates and a downward revision of the valuation range
2/22/2024 8:15:24 AM - Northbaze Q4 2023: Sales lower than estimated but EBITDA inline - Redeye - Northbaze Q4 report came in under our estimate and the company continues to strugle in a difficult enviroment.
2/12/2024 8:01:26 AM - Northbaze: Bankruptcy for one of its subsidiary - Redeye - Northbaze Group AB has declared bankruptcy for its subsidiary, HAPJ AB, due to poor financial performance attributed to the closure of its key market in Russia and Teknikmagasinet's bankruptcy.
1/12/2024 7:15:51 AM - Nasdaq inför dagliga auktioner för 15 bolag på First North med svag likviditet - Börsoperatören Nasdaq inför med start den 18 januari en ny modell med dagliga aktioner som omfattar 15 bolag på First North i Stockholm och Helsingfors. Syftet är att försöka att skapa bättre likviditet.
12/28/2023 7:04:04 AM - Northbaze: Aquires Skalhuset.se for SEK8.5m - Redeye - Northbaze announced late 22rd of December it aquired 100% of Lowwi AB (Skalhuset.se), a leading Nordic e-commerce company within mobile accessories for SEK8.5m. Revenue of Northbaze LTM is SEK131m and revenue of Lowwi AB last fiscal year was SEK87m. Following the aquisition, northbaze will increase its revenue with 60% going forward.
11/24/2023 7:26:14 AM - Northbaze Group: Focus on organic growth and improved margins - Redeye - Redeye believes, in terms of cost restructuring, that the worst will soon be over for Northbaze Group. With a clear focus on profitable organic growth going forward, we believe 2024 will be a turning point. We have observed indications that smartphone sales are rebounding, which is expected to positively impact the demand for Northbaze Group's accessory products. However, our previous sales forecasts were overly optimistic. Therefore, we are revising our sales projections downwards to more accurately reflect the demand we anticipate
11/23/2023 8:03:30 AM - Northbaze Q3 2023: Improved gross margin but weak revenue - Redeye - Improved gross margin but weak revenue.
9/25/2023 11:53:52 AM - Northbaze Group: Strategic partnership with Elon Group AB - Redeye - Redeye considers the partnership with Elon Group AB (Elon) to be a strategically sound move that aligns with Northbaze’s overall strategy. This partnership has extended the company’s market reach and unlocked the potential for cross-selling opportunities, with deliveries set to commence in Q4 2023.
8/25/2023 5:32:15 AM - Northbaze Group Q2 2023: Positive stance despite sales contraction - Redeye - Redeye maintains a positive view of Northbaze, even in the face of a substantial sales contraction. While the company proactively addresses the reduced demand, the prevailing macroeconomic challenges continue to impact Northbaze’s top and bottom-line performance. Despite a challenging quarter, Northbaze is steadfast in its pursuit of recuperating and upholding a 10% EBITDA margin in 2023. Our view on Northbaze remains unchanged, leading us to maintain our existing fair-value range and base case.
8/24/2023 7:30:16 AM - Northbaze Q2 2023: Stellar margins but slower sales - Redeye - Redeye provides a first comment on the back of Northbaze Group’s Q2 2023 report. Sales missed expectations by 17%, while the Gross margin aligned with our projections. Due to lower OPEX, EBITDA margin came out strong, showing 18% compared to last year’s 11%; considering this report, we anticipate only making minor adjustments to our short-term sales and cost estimates while maintaining our fair value range and base case.
6/27/2023 9:35:06 AM - Northbaze Group: CEO Henrik Andersson expands ownership, enters top-five - Redeye - Redeye comments on the recent development involving Henrik Andersson, CEO of Northbaze Group, who has significantly increased his ownership stake in the company. Through the acquisition of 11,000,000 shares, Henrik Andersson has emerged as the fifth largest shareholder of Northbaze Group, holding 7.4% of the company's votes and capital.
5/19/2023 6:35:10 AM - Northbaze Q1 2023: Sales dampened by slow smartphone market - Redeye - Redeye states that the Q1 2023 sales figures were significantly below our estimates, while the gross margin remained in line with our projections. Given the uncertainties in the macroeconomic environment, it is likely that we will need to lower our sales projections and review our valuation.
2/27/2023 7:23:21 AM - Northbaze Q4 2022: Review - Redeye - Redeye provides an update on Northbaze's Q4 2022 report. Despite facing challenges, the company achieved solid growth. However, non-recurring costs led to a temporary dip in margins. While we made minor changes to our estimates, we have left our fair value range unchanged.
2/23/2023 8:47:31 AM - Northbaze: Q4 2022, Initial take - Redeye - Redeye provides a first comment on the back of Northbaze Group’s Q4 report. Despite one-time effects, Northbaze achieved a y/y sales growth of 11%, However, the company reported a temporarily depressed EBITDA margin due to a large one-time cost that was accounted for in the quarter.
2/20/2023 6:40:17 AM - Northbaze: 2022 preview - Redeye - Redeye provides a comment on Northbaze's 2022 preview
11/24/2022 8:44:51 AM - Northbaze Q3 2022: First impression - Redeye - Redeye provides a first comment on the back of Northbaze Group’s Q3 report. Sales missed our expectations by c24%. Northbaze suffered from several different problems during the quarter, resulting in poor sales from Audio & Sound. However, the company again demonstrated tight cost control, resulting in a strong EBITDA.
8/30/2022 7:13:01 AM - Northbaze: Transformation to a Quality Company is Close - Redeye - Redeye considers the Q2 report from Northbaze to be strong and confirm its steps toward becoming a true qualitative company. Considering that Q2 is seasonally slow for Northbaze, the high reported profitability is a very good indicator for the coming quarters and years. Redeye makes small changes to its valuation range.
8/25/2022 6:58:18 AM - Northbaze: Strong Sales and Profitability - Redeye - Redeye states that the Q2 report was very strong, both in terms of sales and profitability. Especially, Adiantes delivered stellar results. The only worrying sign is the low order book, mainly from Adiantes. Redeye will lower OPEX estimates and perhaps lower sales estimates from the sizeable Russian order. Redeye reiterates its valuation.
5/23/2022 8:36:38 AM - Northbaze: Update of Estimates and Valuation - Redeye - Redeye lowers its estimates because of the slow Q1 and due to uncertainty about the big Russian order. As a result of lower estimates and a higher WACC, Redeye lowers its valuation.
5/19/2022 12:35:19 PM - Northbaze: Comment on Q1 - Redeye - Redeye states that the Q1 report came in well below estimates on sales but that profitability was strong. Redeye will lower its estimates and raise its WACC, resulting in a lower valuation.
2/18/2022 9:27:43 AM - Northbaze: Lowering Estimates for 2022 - Redeye - Redeye makes slight downward estimate adjustments following the Q4 report. Sales for Adiantes is adjusted downward, resulting in lower EBIT estimates. Redeye reiterates its valuation.
2/17/2022 8:38:17 AM - Northbaze: Mixed Bag and Preparing for a Strong 2022 - Redeye - Redeye states that the Q4 report was on the weaker side, but still OK. Northbaze is clear about 2021 being a middle year where investments have been made to bear fruit in 2022 and beyond. Redeye will only make minor adjustments in its estimates and maintain its valuation range.
1/14/2022 9:42:16 AM - Northbaze: Acquisition of Copter & Large Russian Order - Redeye - Redeye states that the acquisition of Copter strengthens the core of Northbaze and brings in well-needed stability and cash generation. Also, the recent large order for Audio & Sound is a game-changer. Redeye raises its valuation.
1/10/2022 2:31:59 PM - Northbaze: Major Order to Russia - Redeye - Redeye states that the major order within Audio & Sound is groundbreaking for Northbaze. The indicated sum of SEK 37m doubles current revenue in the segment and implies a total increase of almost 30% compared to E2021 revenues. Also, Northbaze indicates that further orders from the same customer are already under discussion. Redeye is re-evaluating the valuation of Northbaze in combination with the recent acquisition.
12/22/2021 7:22:22 AM - Northbaze: Buying a Strong Business to a Good Price - Redeye - Redeye has a positive view on the acquisition of Copter. The acquisition is strongly cash-generating and strengthens Northbaze’s offering. The acquisition was financed through own shares. An additional share issue was also made, leading to a total dilution of 56%. Redeye is likely to raise its valuation after a more thorough analysis but maintains its valuation for now.
11/23/2021 9:45:34 AM - Northbaze: Hidden Value in Adiantes - Redeye - Redeye states that Adiantes, in two years' time, could be worth more than the current market cap of Northbaze. Redeye raises its Bear Case.
11/18/2021 8:18:10 AM - Northbaze: Comment on Q3 - Redeye - Redeye states that Q3 came in below estimates due to extended covid-related issues. However, the company is still showing strength by delivering a positive EBITDA. Redeye reiterates its valuation.
8/19/2021 11:27:10 AM - Northbaze Group: Low Sales, Cost Consciousness and Strong Outlook - Redeye - Redeye states that while sales came in lower than expectations, the company continues to impress on the cost side. Both in gross margins and OPEX. Also, the company is very optimistic about a strong H2. As of now we keep our view of the company and maintain our valuation.
5/20/2021 9:03:05 PM - Northbaze: In line With Expectations - Redeye - Redeye notes that Northbaze continues its profitable growth strategy with yet another quarter with positive EBITDA. Revenue came in slightly below our estimates, but still a respectable Y/Y growth.