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Arise

Arise

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Arise is an integrated wind power company in the Nordics, managing the entire value chain - from exploration and permitting, to financing, construction, divestment, and long-term management of its own and other companies' wind farms. The company’s general goal is to give its shareholders a good return in the form of dividends and capital growth through efficient funding, management operation and project development in the area of renewable energy.

Direct and indirect exposure to electricity price fluctuations, potential shifts in political action, impairment and building risks.

Financials

SEKm 2024 2025e 2026e
Sales 621 566 N/A
Sales growth (%) 30,7 -8,9 -100
EBITDA 444 333 N/A
EBITDA margin (%) 71,4 58,9 N/A
EBIT adj. 384 273 0
EBIT adj. margin (%) 61,8 48,3 N/A
Pretax profit 354 253 0
EPS 6,21 4,45 N/A
EPS growth (%) 32 -28,4 -100
EPS adj. 6,21 4,45 N/A
DPS 1,5 1,5 N/A
EV/EBITDA (x) 2,8 3,3 N/A
EV/EBIT adj. (x) 3,2 4 N/A
P/E (x) 4,9 6,9 N/A
P/E adj. (x) 4,9 6,9 N/A
EV/sales (x) 2 1,94 N/A
FCF yield (%) 17 22 0
Le. adj. FCF yld. (%) 16,3 21,2 0
Dividend yield (%) 4,9 4,9 0
Net IB debt/EBITDA (x) -0,3 -0,8 N/A
Le. adj. ND/EBITDA (x) -0,4 -1 N/A
SEKm 2024 2025e 2026e
Sales 621 566 N/A
COGS 0 0 N/A
Gross profit 621 566 0
Other operating items -178 -233 0
EBITDA 444 333 N/A
Depreciation and amortisation -60 -60 0
of which leasing depreciation -16 -16 N/A
EBITA 384 273 N/A
EO Items 0 0 N/A
EBIT 384 273 N/A
Net financial items -30 -20 N/A
Pretax profit 354 253 0
Tax -78 -56 N/A
Net profit 276 198 0
Net profit to shareholders 276 198 0
EPS 6,21 4,45 N/A
EPS adj. 6,21 4,45 N/A
Total extraordinary items after tax 0 0 0
Leasing payments -16 -16 N/A
Tax rate (%) 22 22 N/A
Gross margin (%) 100 100 N/A
EBITDA margin (%) 71,4 58,9 N/A
EBITA margin (%) 61,8 48,3 N/A
EBIT margin (%) 61,8 48,3 N/A
Pre-tax margin (%) 56,9 44,8 N/A
Net margin (%) 44,4 34,9 N/A
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) 30,7 -8,9 -100
EBITDA growth (%) 34 -24,9 -100
EBITA growth (%) 42,1 -28,7 -100
EBIT growth (%) 42,1 -28,7 -100
Net profit growth (%) 32 -28,4 -100
EPS growth (%) 32 -28,4 -100
Profitability N/A N/A N/A
ROE (%) 12 8,2 0
ROE adj. (%) 12 8,2 0
ROCE (%) 11,2 7,8 0
ROCE adj. (%) 11,2 7,8 0
ROIC (%) 13,4 9,6 N/A
ROIC adj. (%) 13,4 9,6 N/A
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 444 333 0
EBITDA adj. margin (%) 71,4 58,9 N/A
EBITDA lease adj. 428 317 N/A
EBITDA lease adj. margin (%) 68,9 56,1 N/A
EBITA adj. 384 273 0
EBITA adj. margin (%) 61,8 48,3 N/A
EBIT adj. 384 273 0
EBIT adj. margin (%) 61,8 48,3 N/A
Pretax profit Adj. 354 253 0
Net profit Adj. 276 198 0
Net profit to shareholders adj. 276 198 0
Net adj. margin (%) 44,4 34,9 N/A
SEKm 2024 2025e 2026e
EBITDA 444 333 N/A
Goodwill 0 0 N/A
Net financial items -30 -20 N/A
Tangible fixed assets 2139 2180 N/A
Paid tax -78 -56 N/A
Right-of-use asset 48 42 N/A
Non-cash items 0 0 N/A
Total other fixed assets 233 233 0
Cash flow before change in WC 336 257 0
Fixed assets 2420 2455 0
Change in working capital 63 125 0
Inventories 0 0 N/A
Operating cash flow 398 383 N/A
Receivables 10 9 N/A
Capex tangible fixed assets -168 -85 N/A
Other current assets 248 113 N/A
Acquisitions and Disposals 0 0 0
Cash and liquid assets 1002 1145 N/A
Free cash flow 231 298 0
Total assets 3680 3723 0
Dividend paid -56 -67 N/A
Shareholders equity 2379 2432 0
Leasing liability amortisation -10 -10 N/A
Share issues and buybacks 0 0 0
Total equity 2379 2432 0
Other non-cash items -67 -78 -197
Long-term debt 1025 1025 N/A
Leasing liability 67 67 0
Total other long-term liabilities 62 62 0
Short-term debt 27 27 N/A
Accounts payable 25 23 N/A
Other current liabilities 96 87 0
Total liabilities and equity 3680 3723 0
Net IB debt -116 -259 0
Net IB debt excl. pension debt -116 -259 0
Net IB debt excl. leasing -183 -326 0
Capital employed 3498 3551 0
Capital invested 2263 2173 0
Working capital 138 13 0
EV breakdown N/A N/A N/A
Market cap. diluted (m) 1355 1355 0
Net IB debt adj. -116 -259 N/A
Reversal of conv. debt assumed equity N/A N/A N/A
EV 1240 1096 0
Total assets turnover (%) 17,3 15,3 0
Working capital/sales (%) 27,3 13,3 N/A
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) -4,9 -10,7 N/A
Net debt / market cap (%) -8,6 -19,1 N/A
Equity ratio (%) 64,6 65,3 N/A
Net IB debt adj. / equity (%) -4,9 -10,7 N/A
Current ratio 8,54 9,26 N/A
EBITDA/net interest 14,8 16,6 N/A
Net IB debt/EBITDA (x) -0,3 -0,8 N/A
Net IB debt/EBITDA lease adj. (x) -0,4 -1 N/A
Interest coverage 12,8 13,7 N/A
SEKm 2024 2025e 2026e
Shares outstanding adj. 44 44 N/A
Diluted shares adj. 44 44 0
EPS 6,21 4,45 N/A
Dividend per share 1,5 1,5 N/A
EPS adj. 6,21 4,45 N/A
BVPS 53,53 54,72 N/A
BVPS adj. 53,53 54,72 N/A
Net IB debt/share -2,61 -5,83 N/A
Share price 30,5 30,5 30,5
Market cap. (m) 1355 1355 0
Valuation N/A N/A N/A
P/E (x) 4,9 6,9 N/A
EV/sales (x) 2 1,94 N/A
EV/EBITDA (x) 2,8 3,3 N/A
EV/EBITA (x) 3,2 4 N/A
EV/EBIT (x) 3,2 4 N/A
Dividend yield (%) 4,9 4,9 0
FCF yield (%) 17 22 0
Le. adj. FCF yld. (%) 16,3 21,2 0
P/BVPS (x) 0,57 0,56 N/A
P/BVPS adj. (x) 0,57 0,56 30,5
P/E adj. (x) 4,9 6,9 N/A
EV/EBITDA adj. (x) 2,8 3,3 N/A
EV/EBITA adj. (x) 3,2 4 N/A
EV/EBIT adj. (x) 3,2 4 N/A
EV/CE (x) 0,4 0,3 N/A
Investment ratios N/A N/A N/A
Capex/sales (%) 27 15 N/A
Capex/depreciation 3,8 1,9 N/A
Capex tangibles / tangible fixed assets 7,8 3,9 N/A
Capex intangibles / definite intangibles N/A N/A N/A
Depreciation on intang / def. intang N/A N/A N/A
Depreciation on tangibles / tangibles 2,07 2,02 N/A

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Media

Arise - Company presentation with CEO Per-Erik Eriksson & CFO & IR Markus Larsson
Arise - Company presentation with CEO Per-Erik Eriksson

Main shareholders - Arise

Main shareholders Share capital % Voting shares % Verified
Jan Barchan 15.0 % 15.0 %
Tredje AP-fonden 10.0 % 10.0 %
Nordea Liv & Pension 9.5 % 9.5 %
Claesson & Anderzén 8.1 % 8.1 %
Carlton Telecom Inc 6.7 % 6.7 %
Peter Gyllenhammar 4.5 % 4.5 %
Ernström & C:o AB 4.5 % 4.5 %
Svenska Handelsbanken AB for PB 4.1 % 4.1 %
Leif Jansson 3.7 % 3.7 %
Olof Andersson 3.6 % 3.6 %