Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Morning Review
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
    • Insider Transactions
  • inderesTV
  • Portfolio
  • Forum
  • Premium
  • Femme
  • Learn
    • Investing School
    • Q&A
    • Analysis School
  • About Us
    • Our Coverage
    • Team
Third party research

Empir: Ongoing restructuring, focus on Apply - ABG

Mysafety Group

This is a third party research report and does not necessarily reflect our views or values

Download report (PDF)
Continued operations slightly behind ABGSCe
Lowering our forecasts on the back of the Q3 report
More changes to be decided at the EGM on 23 November

Empir reported Q3 net sales of SEK 3.7m (SEK 3.4m) from continuing operations. That was 30% behind our expected SEK 5.2m. The lower sales volume translated to adj. EBIT, which was also SEK 1.5m below our forecast, at SEK -4.0m vs. ABGSCe at SEK -2.5m. Empir ended the quarter with cash and cash equivalents of SEK 38.4m following the divestment of shares in Xavi Solutionnode. After the transaction Empir owns 31.8% of Xavi Solutionnode, making it a minority holding.

Empir will host an EGM on 23 November, where it has proposed: 1) a new loan agreement with Xavi Solutionnode, 2) a dividend of Xavi Solutionnode shares to current shareholders, and 3) a handover of all shares in Empir Apply to Empir Vezzel Applications. If these proposals are accepted, Empir will: 1) have a loan agreement with Xavi Solutionnode that will generate SEK ~2m per year, 2) own 7.4% of Xavi Solutionnode, and 3) own 69.9% of Empir Vezzel Applications. All these changes are made in order to focus on the offerings by Portify and Miljöbilscentralen going into 2022.
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • Instagram
  • X (Twitter)
  • Tiktok
  • Linkedin
Get in touch
  • info@inderes.fi
  • +358 10 219 4690
  • Porkkalankatu 5
    00180 Helsinki
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.