Announcement • 9h
Lea Bank AB Announces Resignation of Henrik Betsgren from CFO Role Lea Bank AB announced the decision by Chief Financial Officer (CFO) Henrik Betsgren to resign from his position to pursue other opportunities. Betsgren will remain in the CFO position until December 4, 2026, or until a successor is appointed. Major Estimate Revision • Jun 04
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from kr818.8m to kr794.3m. EPS estimate also fell from kr1.41 per share to kr1.26 per share. Net income forecast to grow 14% next year vs 8.6% growth forecast for Banks industry in Sweden. Consensus price target down from kr16.14 to kr13.78. Share price fell 8.2% to kr12.32 over the past week. Buy Or Sell Opportunity • May 13
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.0% to kr14.36. The fair value is estimated to be kr18.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 8.4%. Revenue is forecast to grow by 144% in 2 years. Earnings are forecast to grow by 58% in the next 2 years. Reported Earnings • May 08
First quarter 2026 earnings released: EPS: kr0.32 (vs kr0.22 in 1Q 2025) First quarter 2026 results: EPS: kr0.32 (up from kr0.22 in 1Q 2025). Revenue: kr99.8m (up 19% from 1Q 2025). Net income: kr31.4m (up 49% from 1Q 2025). Profit margin: 31% (up from 25% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Banks industry in Sweden. New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • May 06
Upcoming dividend of kr0.72 per share Eligible shareholders must have bought the stock before 13 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 4.9%. Within top quartile of Swedish dividend payers (4.3%). Lower than average of industry peers (7.9%). Buy Or Sell Opportunity • Apr 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 10.0% to kr14.85. The fair value is estimated to be kr18.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 157% in 2 years. Earnings are forecast to grow by 76% in the next 2 years. Announcement • Mar 19
Lea Bank AB (publ) to Report Fiscal Year 2026 Results on Feb 18, 2027 Lea Bank AB (publ) announced that they will report fiscal year 2026 results on Feb 18, 2027 Buy Or Sell Opportunity • Feb 17
Now 20% undervalued Over the last 90 days, the stock has risen 6.2% to kr14.50. The fair value is estimated to be kr18.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 160% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Announcement • Feb 13
Lea Bank AB, Annual General Meeting, May 12, 2026 Lea Bank AB, Annual General Meeting, May 12, 2026. Buy Or Sell Opportunity • Dec 09
Now 20% undervalued Over the last 90 days, the stock has risen 20% to kr14.60. The fair value is estimated to be kr18.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. Revenue is forecast to grow by 157% in 2 years. Earnings are forecast to grow by 54% in the next 2 years. Announcement • Nov 28
Lea Bank AB Appoints Henrik Betsgren as Chief Financial Officer, Effective No Later Than 1 February 2026 Lea Bank AB has appointed Henrik Betsgren as Chief Financial Officer (CFO), effective no later than 1 February 2026. Betsgren brings extensive experience from senior financial leadership roles in banking, financial services and corporate finance. He previously served as CFO at Eika Kredittbank AS, a Norwegian consumer finance bank, for ten years, where he was responsible for financial strategy, liquidity, and funding management. He has also held a CFO role in a Norwegian investment bank and several positions at Norsk Hydro ASA. Betsgren holds a Master of Science in Business and Economics from Lund University. He is a Swedish resident living in Gothenburg Municipality and will be based at Lea Bank AB's headquarters in Gothenburg. Reported Earnings • Oct 24
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: kr94.2m (up 19% from 3Q 2024). Net income: kr33.3m (up 63% from 3Q 2024). Profit margin: 35% (up from 26% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Banks industry in Sweden. Recent Insider Transactions • Sep 19
Insider recently sold kr1.6m worth of stock On the 12th of September, Christian Svendsen sold around 128k shares on-market at roughly kr12.23 per share. This transaction amounted to 5.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr1.9m more than they bought in the last 12 months. Announcement • Aug 15
Lea Bank AB to Report Fiscal Year 2025 Results on Feb 12, 2026 Lea Bank AB announced that they will report fiscal year 2025 results on Feb 12, 2026 Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: kr0.30 (up from kr0.25 in 2Q 2024). Revenue: kr88.4m (up 22% from 2Q 2024). Net income: kr28.3m (up 74% from 2Q 2024). Profit margin: 32% (up from 23% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, while revenues in the Banks industry in Sweden are expected to remain flat. Board Change • Jun 21
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Director Kristin Margrethe Devold is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr12.80, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Banks industry in Sweden. Announcement • May 15
Lea Bank AB Approves Dividend, Payable on May 21, 2025 Lea Bank AB at its annual general meeting held on May 14, 2025, the meeting decided in accordance with the Board of Directors' and the Nomination Committee's proposals, including the proposal to distribute a dividend of SEK 1.80 per share. The dividend will be paid May 21, 2025. The shares will be traded excluding the right to dividend from and including May 15, 2025. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: kr0.22 (vs kr0.25 in 1Q 2024) First quarter 2025 results: EPS: kr0.22 (down from kr0.25 in 1Q 2024). Revenue: kr76.3m (down 1.3% from 1Q 2024). Net income: kr21.1m (down 12% from 1Q 2024). Profit margin: 28% (down from 31% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 28% p.a. on average during the next 3 years, while revenues in the Banks industry in Sweden are expected to remain flat. Recent Insider Transactions • Apr 09
Chief Executive Officer recently bought kr3.3m worth of stock On the 4th of April, Oddbjorn Berentsen bought around 225k shares on-market at roughly kr14.60 per share. This transaction increased Oddbjorn's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. New Risk • Feb 13
New major risk - Revenue and earnings growth Earnings have declined by 11% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 11% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr1.04b market cap, or US$95.8m). Announcement • Feb 13
Lea Bank AB Proposes A Dividend In accordance with the banks dividend policy, the board of directors intend to proposed a dividend of SEK 172 million, equalling SEK 1.80 per share, to the General Meeting in Lea Bank AB. The General Meeting will be held on May 14, 2025. Announcement • Feb 12
Lea Bank AB Announces Resignation of Ulrika Söderberg as Board Member Lea Bank AB has been informed that Board member Ulrika Söderberg has chosen to resign from the Company's Board of Directors with immediate effect. The resignation is due to a conflict of interest as Söderberg in her newly assumed employment will be working for a competitor. Announcement • Feb 04
Multitude Bank p.l.c. acquired an additional 11% stake in Lea Bank AB (OM:LEA). Multitude Bank p.l.c. acquired an additional 11% stake in Lea Bank AB (OM:LEA) on February 4, 2025. On completion, Multitude Bank p.l.c. increases stake in Lea Bank AB to 20.9%, strengthening Its position as largest shareholder. Following the approval received from the Swedish Financial Authority, Multitude Bank executed five additional share purchase agreements, all of which were completed yesterday. This transaction strengthens Multitude Bank’s strategic foothold in the Nordic consumer finance market and aligns with its long-term growth strategy through organic expansion, partnerships, and acquisitions. The acquisition was funded entirely by its liquidity and to result in "attractive" financial returns in the form of dividends and associated income.
Multitude Bank p.l.c. completed the acquisition of an additional 11% stake in Lea Bank AB (OM:LEA) on February 4, 2025. 
