Share price trend and trading
Addtech Addtech’s Class B shares are listed on Nasdaq Stockholm. Since the listing in September 2001, the average price increase, up to and including 31 March 2019, has been 16 percent annually. Over the corresponding period, the exchange’s OMX Stockholm index changed by an average 6 percent.
Over the financial year, the price of the Addtech share rose by 15 percent. Over the corresponding period, the exchange’s OMX Stockholm index rose by 5 percent. The highest price paid during the year was SEK 219.50, which was noted on 11 June 2018. The lowest price paid was SEK 154.00, which was noted on 27 December 2018. The closing price at the end of the financial year was SEK 193.00, corresponding to a market capitalisation of SEK 12.5 billion (10.9).
During the period from 1 April 2018 to 31 March 2019, 13.4 million shares (12.6) were traded for a total value of slightly more than SEK 2.5 billion (2.1). In relation to the average number of Class B shares outstanding, this corresponds to a turnover rate of 21 percent (20). Broken down per trading day, an average 53,661 Addtech shares (50,305) were traded for an average value of approximately SEK 10 million (9).
At the end of the period, share capital amounted to SEK 51.1 million divided into the following number of shares with a quota value of SEK 0.75 per share.
|Class of shares||Number of shares||Number of votes||Percentage of capital||Percentage of votes|
|Class A shares, 10 votes per share||3,229,500||32,295,000||4.7||33.2|
|Class B shares, 1 vote per share||64,968,996||64,968,996||95.3||66.8|
|Total number of shares before repurchases||68,198,496||97,263,996||100.0||100.0|
|Of which repurchased class B shares||1,141,387||1.7||1.2|
|Total number of shares after repurchases||67,057,109|
Chapter 6, Section 2a of the Swedish Annual Accounts Act requires listed companies to disclose specific circumstances that may affect the prospects for acquiring the Company via a public share offer. In the event of the Company being de-listed from Nasdaq OMX Stockholm or a party other than the present principal shareholder attaining an ownership holding exceeding 50 percent of the capital or votes, the granted credit line in terms of contractual credit facilities of SEK 400 million and overdraft facilities of SEK 1,300 million can be terminated.
Repurchases of treasury shares and incentive programmes
The Annual General Meeting in August 2018 authorised the Board of Directors to repurchase a maximum of 10 percent of all shares in the Company during the period extending until the Annual General Meeting in 2019. During the financial year Addtech repurchased 200,000 of its own Class B shares. At the end of the year, 1,141,387 (1,206,145) of the Company’s own Class B shares were held, with an average purchase price of SEK 108.05 (92.12). These shares correspond to 1.7 percent (1.8) of the number of shares issued and 1.2 percent (1.2) of the votes.
Addtech has four outstanding call option programmes for a total of 1,144,893 shares. Call options issued on repurchased shares entail a dilution effect of about 0.2 percent over the past 12-month period. Addtech’s holdings of treasury shares are expected to match the needs of the outstanding call option programmes.
|Outstanding programme||Number of options||Corresponding number of shares||Proportion of total shares||Initial exercise price||Adjusted exercise price||Expiration period|
|2018/2022||300,000\||300,000||0.4%||232.90\||-||6 Sep 2021 - 3 Jun 2022|
|2017/2021||300,000\||300,000||0.4%||178.50\||-||14 Sep 2020 - 4 Jun 2021|
|2016/2020||300,000\||300,000||0.4%||159.00\||-||16 Sep 2019 - 5 Jun 2020|
|2015/2019||199,100\||244,893||0.4%||154.50\||125.10\||17 Sep 2018 - 3 Jun 2019|
On 31 March, 2019, the total number of shareholders was 5,191 (5,327), of whom 3,983 (4,045) held 1,000 shares or less each. The 15 largest shareholders accounted for 57.6 (56.2) percent of the total number of shares and 68.7 (67.2) percent of the total number of votes. Anders Börjesson (with companies and family members) is the largest shareholder in terms of votes, with a shareholding corresponding to 15.8 percent, followed by Tom Hedelius, with a shareholding corresponding to 15.2 percent. The proportion of foreign owners corresponded to 39 percent (35) of total capital.
Addtech’s website www.addtech.com is updated continuously with information about shareholder changes and share price performance. The site also presents information about which analysts monitor Addtech.
Key financial indicators
|Earnings per share (EPS), SEK||9.85||7.70||6.60|
|Shareholders’ equity per share, SEK||36.80||31.10||25.45|
|Dividend per share, SEK||5.00||1)||4.00||3.50|
|Payout ratio, %||51||52||55|
|Dividend yield, %||2.6||2.4||2.4|
|Last price paid, SEK||193.00||168.00||148.50|
|Market capitalisation, SEKm||12,539||10,915||9,647|
|Average number of shares outstanding||67,046,711||66,949,710||66,823,990|
|Number of shares outstanding at year-end||67,057,109||2)||66,992,351||66,823,775|
|Number of shareholders at year-end||5,191||5,327||4,791|
|1) Dividend proposed by the Board of Directors|
|2) The difference between the total number of shares and shares outstanding equals the shares repurchased by Addtech: 1,240,000 Class B shares at 31 mars 2016.|
Addtech’s largest shareholders, 31 march 2019
|Shareholder||Class A shares||Class B shares||capital, %||votes, %|
|Anders Börjesson with company and family||1,527,162||121,500||2.4||15.8|
|Swedbank Robur Fonder||6,001,813||8.8||6.2|
|SEB Investment Management||5,485,163||8.1||5.6|
|State Street Bank And Trust Client||3,906,719||5.7||4.0|
|Brown Brothers Harriman & Co||2,582,698||3.8||2.6|
|State Street Bank And Trust Com. Boston||1,933,798||2.8||2,0|
|JPM Chase NA||1,705,259||2.5||1.8|
|Odin Fonder Norden||1,530,000||2.2||1.6|
|Odin Fonder Sverige||1,500,633||2.2||1.5|
|Total 15 largest owners 3)||3,061,152||36,238,682||57.6||68.7|
|3) The proportion of capital and votes includes the shares held in treasury by Addtech AB.|
|Number of shares||% of share capital||Number of shareholders||% of number of shareholders|
|1 - 500||0||3349||65|
|501 - 1 000||1||634||12|
|1 001 - 5 000||2||778||15|
|5 001 - 10 000||2||167||3|
|10 001 - 15 000||1||53||1|
|15 001 - 20 000||1||29||1|
|20 001 -||93||181||3|
Holdings by category
|Number of shareholders||Proportion of capital, %||Number of shareholders||Proportion of capital, %|