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Norske Skog

BST:0BQ
Snowflake Description

Undervalued with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0BQ
BST
NOK3B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Norske Skog ASA produces and sells newsprint and magazine publication paper primarily in Europe and Australasia. The last earnings update was 8 days ago. More info.


Add to Portfolio Compare Print
  • Norske Skog has significant price volatility in the past 3 months.
0BQ Share Price and Events
7 Day Returns
-1.5%
BST:0BQ
3.8%
Europe Forestry
7.3%
DE Market
1 Year Returns
-
BST:0BQ
-16%
Europe Forestry
-17.7%
DE Market
0BQ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Norske Skog (0BQ) -1.5% -24.2% -37.8% - - -
Europe Forestry 3.8% -14.6% -24.6% -16% -30.2% -12.2%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • No trading data on 0BQ.
  • No trading data on 0BQ.
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Norske Skog undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Norske Skog to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Norske Skog.

BST:0BQ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BST:0BQ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.04 (1 + (1- 23%) (71.12%))
1.408
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.41
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.408 * 5.44%)
7.27%

Discounted Cash Flow Calculation for BST:0BQ using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Norske Skog is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BST:0BQ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 7.27%)
2020 1,457.50 Analyst x2 1,358.71
2021 251.50 Analyst x2 218.56
2022 577.00 Analyst x1 467.44
2023 554.78 Est @ -3.85% 418.97
2024 539.17 Est @ -2.81% 379.59
2025 527.93 Est @ -2.09% 346.48
2026 519.60 Est @ -1.58% 317.90
2027 513.25 Est @ -1.22% 292.73
2028 508.27 Est @ -0.97% 270.24
2029 504.21 Est @ -0.8% 249.91
Present value of next 10 years cash flows NOK4,320.00
BST:0BQ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK504.21 × (1 + -0.39%) ÷ (7.27% – -0.39%)
NOK6,555.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK6,555.75 ÷ (1 + 7.27%)10
NOK3,249.32
BST:0BQ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK4,320.00 + NOK3,249.32
NOK7,569.32
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK7,569.32 / 82.50
NOK91.75
BST:0BQ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:0BQ represents 0.08386x of OB:NSKOG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.08386x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 91.75 x 0.08386
€7.69
Value per share (EUR) From above. €7.69
Current discount Discount to share price of €2.70
= -1 x (€2.70 - €7.69) / €7.69
64.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Norske Skog is available for.
Intrinsic value
>50%
Share price is €2.7 vs Future cash flow value of €7.69
Current Discount Checks
For Norske Skog to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Norske Skog's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Norske Skog's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Norske Skog's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Norske Skog's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:0BQ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in NOK NOK24.78
OB:NSKOG Share Price ** OB (2020-03-30) in NOK NOK32.2
Europe Forestry Industry PE Ratio Median Figure of 31 Publicly-Listed Forestry Companies 8.99x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Norske Skog.

BST:0BQ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:NSKOG Share Price ÷ EPS (both in NOK)

= 32.2 ÷ 24.78

1.3x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Norske Skog is good value based on earnings compared to the Europe Forestry industry average.
  • Norske Skog is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Norske Skog's expected growth come at a high price?
Raw Data
BST:0BQ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-57%per year
Europe Forestry Industry PEG Ratio Median Figure of 21 Publicly-Listed Forestry Companies 0.43x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

BST:0BQ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 1.3x ÷ -57%

-0.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Norske Skog earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Norske Skog's assets?
Raw Data
BST:0BQ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in NOK NOK66.58
OB:NSKOG Share Price * OB (2020-03-30) in NOK NOK32.2
Europe Forestry Industry PB Ratio Median Figure of 38 Publicly-Listed Forestry Companies 0.89x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
BST:0BQ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:NSKOG Share Price ÷ Book Value per Share (both in NOK)

= 32.2 ÷ 66.58

0.48x

* Primary Listing of Norske Skog.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Norske Skog is good value based on assets compared to the Europe Forestry industry average.
X
Value checks
We assess Norske Skog's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Forestry industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Forestry industry average (and greater than 0)? (1 check)
  5. Norske Skog has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Norske Skog expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-57%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Norske Skog expected to grow at an attractive rate?
  • Norske Skog's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Norske Skog's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Norske Skog's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:0BQ Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:0BQ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -57%
BST:0BQ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -6.8%
Europe Forestry Industry Earnings Growth Rate Market Cap Weighted Average -8%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 0.7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BST:0BQ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:0BQ Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 10,251 827 405 1
2021-12-31 10,098 851 362 2
2020-12-31 10,612 1,192 492 2
2020-03-31
BST:0BQ Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-12-31 12,200 602 2,044
2019-09-30 12,714 986 2,511
2019-06-30 12,919 948 2,499
2019-03-31 12,780 915 2,012
2018-12-31 12,428 881 1,525
2017-12-31 11,527 404 -3,551

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Norske Skog's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Norske Skog's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BST:0BQ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Norske Skog Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:0BQ Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 4.91 4.91 4.91 1.00
2021-12-31 4.39 4.54 4.24 2.00
2020-12-31 5.97 6.09 5.85 2.00
2020-03-31
BST:0BQ Past Financials Data
Date (Data in NOK Millions) EPS *
2019-12-31 24.78
2019-09-30 30.44
2019-06-30 30.29
2019-03-31
2018-12-31 18.48
2017-12-31 -118,366.67

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Norske Skog is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Norske Skog's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Norske Skog has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Norske Skog performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Norske Skog's growth in the last year to its industry (Forestry).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Norske Skog has delivered over 20% year on year earnings growth in the past 5 years.
  • Norske Skog's 1-year earnings growth is less than its 5-year average (34% vs 57.4%)
  • Norske Skog's earnings growth has exceeded the Europe Forestry industry average in the past year (34% vs -10.7%).
Earnings and Revenue History
Norske Skog's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Norske Skog Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:0BQ Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 12,200.00 2,044.00 3,212.00
2019-09-30 12,714.00 2,511.00 3,208.00
2019-06-30 12,919.00 2,499.00 3,215.00
2019-03-31 12,780.00 2,012.00 3,217.50
2018-12-31 12,428.00 1,525.00 3,220.00
2017-12-31 11,527.00 -3,551.00 3,042.00
2016-12-31 11,852.00 -972.00 3,056.00
2015-12-31 9,540.00 -1,129.71 2,539.71

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Norske Skog has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Norske Skog used its assets more efficiently than the Europe Forestry industry average last year based on Return on Assets.
  • Norske Skog has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Norske Skog's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Forestry industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Norske Skog has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Norske Skog's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Norske Skog's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Norske Skog is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Norske Skog's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Norske Skog's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Norske Skog Company Filings, last reported 3 months ago.

BST:0BQ Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 5,493.00 1,768.00 1,020.00
2019-09-30 5,649.00 1,761.00 909.00
2019-06-30 4,560.00 1,802.00 861.00
2019-03-31 2,365.00 3,180.00 965.00
2018-12-31 2,365.00 3,180.00 965.00
2017-12-31 -1,427.00 6,150.00 490.00
2016-12-31 2,090.00 5,409.00 388.00
2015-12-31 4,729.00 4,799.00 338.00
  • Norske Skog's level of debt (32.2%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Norske Skog's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (34%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7x coverage).
X
Financial health checks
We assess Norske Skog's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Norske Skog has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Norske Skog's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
19.41%
Current annual income from Norske Skog dividends. Estimated to be 17.31% next year.
If you bought €2,000 of Norske Skog shares you are expected to receive €388 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Norske Skog's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Norske Skog's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BST:0BQ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 5.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BST:0BQ Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 5.99 1.00
2021-12-31 5.28 2.00
2020-12-31 5.66 2.00
2020-03-31
BST:0BQ Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2020-03-23 6.250 19.104
2020-02-06 6.250 16.773

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Norske Skog has stable dividend payments.
  • Norske Skog only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Norske Skog's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess Norske Skog's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Norske Skog afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Norske Skog has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Norske Skog's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sven Ombudstvedt
AGE 53
TENURE AS CEO 1.2 years
CEO Bio

Mr. Sven Ombudstvedt serves as Chief Executive Officer and President of Norske Skog ASA and served as its Chairman of the Board until 2019. Mr. Ombudstvedt served as the Chief Executive Officer and President of Norske Skogindustrier ASA since January 2010 until May 7, 2017. Mr. Ombudstvedt served as the Chief Financial Officer and Head of strategy of Yara International ASA from October 1, 2006 to July 4, 2008 and Head of upstream business from 2003 to October 1, 2006. He served as Finance Director of Yara International ASA since October 1, 2006 and also served as its Chief Executive Officer. He held a number of leading positions in Norsk Hydro from 1991 to 2003. He served as Senior Vice President of Upstream from 2003 to 2006. He served as Senior Vice President of Corporate Strategy at the Hydro Group from 2002 to 2003 and Deputy to Hydro Agri's Chief Operating Officer from 2000 to 2002, with commercial strategy and industrial restructuring as his main responsibility. Prior to 2000, he worked in several senior positions in Hydro Agri's European operations from 1993 to 1999 and also served as a Senior Systems Analyst on several large projects from 1991 to 1993. He serves as Chair of the Board at Norske Skogindustrier ASA since September 2017. Mr. Ombudstvedt serves as the Chairman of Norske Skog Saugbrugs As. He was the Chairman at PJSC PhosAgro (formerly, OJSC PhosAgro AG) since May 2011 until May 24, 2019 and has been its Independent Director since 2006. He has been a Board Member of TMG International AB since February 12, 2008. He served as a Director of Western Bulk AS. He serves as a Director of Trinidad Nitrogen Company. He served as a Director of Storm Real Estate AS. He served as a Director of Trafalgar House Pension Fund from 2005 to 2006, Qatar Fertilizer from 2005 to 2006, Norwegian Retail Concepts from 1998 to 1999, Strømsgodset Fotball ASA from 1998 to 1999. He served as a Director of Kemira GrowHow Oyj since October 22, 2007. Mr. Ombudstvedt earned a Bachelor of Business Administration from Pacific Lutheran University in Tacoma, Washington and a Master of International Management from the American Graduate School of International Management (Thunderbird) in Glendale, Arizona, USA.

CEO Compensation
  • Insufficient data for Sven to compare compensation growth.
  • Insufficient data for Sven to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Norske Skog management team in years:

6.2
Average Tenure
52.5
Average Age
  • The average tenure for the Norske Skog management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Lars Peder Sperre

TITLE
Senior Vice President of Corporate Strategy
COMPENSATION
NOK11M
AGE
42
TENURE
0.3 yrs

Sven Ombudstvedt

TITLE
CEO & President
AGE
53
TENURE
1.2 yrs

Rune Sollie

TITLE
Chief Financial Officer
AGE
52
TENURE
6.2 yrs

Amund Saxrud

TITLE
Chief Operating Officer
TENURE
24.2 yrs

Even Lund

TITLE
Investor Relations Manager

Carsten Dybevig

TITLE
Vice President of Corporate Communication

Tore Hansesætre

TITLE
Senior Vice President of Strategic Projects

Robert Wood

TITLE
Senior Vice President of Commercial
AGE
55
TENURE
33.2 yrs
Board of Directors Tenure

Average tenure of the Norske Skog board of directors in years:

1.2
Average Tenure
  • The average tenure for the Norske Skog board of directors is less than 3 years, this suggests a new board.
Board of Directors

John Chiang

TITLE
Chairperson
TENURE
1.2 yrs

Arvid Grundekjøn

TITLE
Director
TENURE
2.2 yrs

Paul Kristiansen

TITLE
Director
AGE
63
TENURE
1.2 yrs

Svein Veie

TITLE
Director
AGE
46
TENURE
1.2 yrs

Idunn Finnanger

TITLE
Director
TENURE
1.2 yrs

Trine-Marie Hagen

TITLE
Director
TENURE
1.2 yrs

Anneli Nesteng

TITLE
Director
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Norske Skog individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
12. Mar 20 Buy Even Lund Individual 12. Mar 20 12. Mar 20 5,000 €3.00 €14,985
09. Mar 20 Buy Lars Peder Sperre Individual 09. Mar 20 09. Mar 20 9,000 €3.03 €27,284
X
Management checks
We assess Norske Skog's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Norske Skog has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Norske Skog ASA produces and sells newsprint and magazine publication paper primarily in Europe and Australasia. It operates through two segments, Publication Paper Europe, and Publication Paper Australasia. The company offers improved newsprint, super calandered, light weight coated, and book and directory paper products. Its products are used in newspapers and magazines, catalogues, inserts/flyers, supplements, freesheets, directories, direct mail, brochures, and books. The company sells its products under the Nornews, Norbright, NorX, Norstar, Norcote, NorSC, Norbook, Vantage, and Tasman Directory brand names. It also exports its products to North America, Africa, the Middle East, and Asia. The company was founded in 1962 and is headquartered in Oslo, Norway. Norske Skog ASA is a subsidiary of NS Norway Holding AS.

Details
Name: Norske Skog ASA
0BQ
Exchange: BST
Founded: 1962
NOK228,165,796
82,500,000
Website: http://www.norskeskog.com
Address: Norske Skog ASA
PB 294 Skøyen,
Oslo,
Oslo, 0213,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB NSKOG Share Capital Oslo Bors NO NOK 18. Oct 2019
BST 0BQ Share Capital Boerse-Stuttgart DE EUR 18. Oct 2019
BATS-CHIXE NSKOGO Share Capital BATS 'Chi-X Europe' GB NOK 18. Oct 2019
Number of employees
Current staff
Staff numbers
2,149
Norske Skog employees.
Industry
Paper Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 00:22
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/02/11
Last earnings filing: 2020/03/23
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.