HC Andersen Capital Events 25/5: Meet the management in Djurslands Bank, Xplora and Penneo
HC Andersen Capital is today hosting digital events where you can meet and ask questions directly to the top management. It is free for all to attend.
Djurslands Bank - Presentation of the Q1 report
Djurslands Bank released its accounts for the first quarter of 2022 on Monday, where the bank, despite a strong start to the year, maintains guidance for 2022. At the same time, it is announced that the bank will initiate an ongoing generational change by initially expanding the Executive Board with a new bank director.
Djursland comes out of the first 3 months of the year with a base result of DKK 47.2 million. against DKK 24.0 million. in the same period last year. Similar to what we have seen from a number of other banks, Djurslands Bank is also affected by negative price adjustments as a result of the volatile equity and bond markets. Profit before tax is thus DKK 36.0 million. in the quarter against DKK 15.1 million. last year. It is largely driven by good activity in the housing market and increased corporate lending.
Despite the fact that Djurslands Bank is delivering a record result for the quarter, expectations for 2022 of a profit before tax of DKK 100-130 million are maintained. This is due to the general uncertainty both related to the development of society in general and derivative effects from the war in Ukraine specifically. Therefore, the bank's Corona buffer is also maintained unchanged at DKK 45 million.
The announcement also states that bank director Lars Møller Kristensen, who is 61 years old, will be supplemented by a new bank director who will eventually take over the position as CEO when Lars Møller Kristensen retires. Thus, the executive board is expanded to two members, and a recruitment process is set in motion to fill the vacancy.
Meet and ask questions to Bank Director Lars Møller Kristensen when he reviews the accounts
Wednesday the 25th of may 12:00 - 12:30
Register here.
Xplora - Presentation of the Q1 report
Xplora is expected to publish it accounts for Q1 2022 today. Join us for a presentation of Xplora’s results, together with Xplora’s CEO, Sten Kirkbak and CFO, Mikael Clement, where you can understand how the business has developed so far in 2022 and ask questions to management.
Xplora had a strong year in 2021, its Annual report released on 27.04.22 details a year in which Xplora grew its revenue by 115% y/y, increased its subscriber numbers 61% and cemented its connectivity and value-added services as a key revenue driver for the business.
Xplora has already announced its trading statement for Q1 22 (on 13 April 22), giving insight into its progress towards its 2022 targets, announcing 37% y/y revenue growth, of which 45% came from annual recurring revenues.
2021 has seen significant developments thus far, with Xplora announcing developments including new partnerships in the UK and US and the planned launch of three new watch models for release during 2022, the new X6 and X6 Pro, the next generation of Xplora’s X5 Play and XG03 watches.
Wednesday the 25th of may 13:00 - 13:30
Register here.
Penneo - Presentation of the Q1 report
Penneo A/S has reported its Q1 results 2022 yesterday. Annual recurring revenue (ARR) increased to DKK 58.5 million, corresponding to a 43% growth compared to Q1 2021. EBITDA amounted to DKK -6 million due to investments. In relation to that, Penneo downgrades its EBITDA guidance to the interval DKK -20 million to -15 million for 2022 (before DKK -10 million to -5 million) as a result of intensified investments in long-term ARR growth in accordance with the capital increase of DKK 59 million (net proceeds) in Q1 2022.
Looking at ARR quarter-on-quarter (Q1 2022 compared to Q4 2021), ARR increased approx. DKK 3 million. This is below the level from the same quarter in Q1 2021 (DKK 3.9 million), which is explained by a 25% decrease in new customers.
Growth in ARR is driven by ARR uplift to existing customers of approx. 23% year-on-year. In relation to the uplift, Penneo has reprioritized its sales organization to focus on upselling the KYC solution. ARR churn is kept at a low level of approx. 3%, implying a net ARR retention rate of 120% year-on-year. Penneo maintains its ARR guidance of DKK 77-82 million (40-49% growth) at the end of 2022.
Meet and ask questions to Penneo’s CEO Christian Stendevad and CFO Casper Nielsen Christiansen, who will present the Q1 report.
Wednesday the 25th of may 14:00 - 14:30
Register here.
Disclaimer: HC Andersen Capital receives payment from Djurslands Bank, Xplora and Penneo through a Digital IR/Corporate Visibility agreement.
Mie Halse
Head of Digital and Events
mie@hcandersencapital.dk
+45 28746640
HC Andersen Capital digitializes the relation between listed companies and investors. We work long-term for companies that want more visibility in the market. #DemocraticIR - HC Andersen Capital works to democratize access to the financial markets.