The Share
Hoist Finance’s market capitalisation was SEK 4,460 million based on the last price paid on 30 December 2019, which was SEK 49.94 per share.
Share performance in 2019
Hoist Finance’s share price increased 15.7 per cent in 2019, while the total OMX Stockholm PI index increased 29.6 per cent. The highest closing price quoted during the year was SEK 61.40, on 13 September 2019, and the lowest closing price was SEK 36.60, on 27 March 2019.
Trading volume
A total of 148.9 million Hoist Finance shares1) were traded on all trading platforms during 2019, while the average daily trading volume was 595,701 shares. Trading on Nasdaq Stockholm accounted for 83.5 per cent (77.9) of total trading volume in the Hoist Finance share.
Beta value and volatility
The beta value of the Hoist Finance share was 0.85 in 2019 (1.09). The beta value shows the way in which a share price fluctuates in relation to the market as a whole – in this case, as compared with OMX Stockholm Pi. A beta value of 1.00 indicates that the share price has developed in line with the rest of the market. Share price volatility was 52.2 per cent (43.5) in 2019. This figure shows the daily share price movements in relation to its average value.
Share capital
At year-end, Hoist Finance’s share capital amounted to SEK 29,767,666.66 divided among 89,303,000 shares. All shares carry equal entitlement to the company’s earnings and equity, and equal voting rights.
Ownership structure
The number of shareholders was 7,429 at year-end 2019, an increase of 73 per cent compared to prior year. Of Hoist Finance’s share capital, 84.6 per cent (79.7) is owned by Swedish investors 1). The US, Norway and Denmark account for the largest share of foreign ownership. The Hoist Finance share has been listed on Nasdaq Stockholm’s Mid Cap list since 25 March 2015.
Dividend
The Board of Directors is proposing that an exception be made for financial year 2019 to the current dividend policy, and that no dividend be distributed for 2019. The non-payment of dividends has a positive impact of 0.40 percentage points on the CET1 capital ratio as at 31 December 2019 (assuming a 25 per cent dividend payout).
Credit rating
Hoist Finance has a long-term senior unsecured debt rating of Baa3, with a stable outlook. The short-term credit score is P-3. The credit rating is completed by the rating agency Moody’s Investors and was confirmed in February 2020. This is important as a high rating indicates a stronger credit profile and will typically result in lower funding costs.
1. Source: Modular Finance AB and Bloomberg.
| Hoist Finance share data 2019 | ||
|---|---|---|
| Closing low, SEK | 36.60 | |
| Closing high, SEK | 61.40 | |
| VWAP | 47.55 | |
| Share turnover | 148,925,278 | |
| Daily turnover, shares | 595,701 | |
| Number of trades | 290,133 | |
| Average per day, trades | 1,160.5 | |
| Average value per trade, SEK | 24,408 | |
| Average daily turnover, SEK M | 28.3 | |
| On Nasdaq (ordinary trading), % | 83.5 | |
| Transactions on other trading platforms, % | 15.8 | |
| Dark pools (Nasdaq), % | 0.7 | |
1) Source: Modular Finance AB.
| Ownership structure, 31 December 2019 |
|---|
| Size | Number of shares | Capital, % | Votes, % | No. of shareholders | Shareholders, % | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1–500 | 764,366 | 0.9 | 0.9 | 4,630 | 62.3 | |||||
| 501–1,000 | 857,670 | 1.0 | 1.0 | 1,014 | 13.7 | |||||
| 1,001–2,000 | 987,204 | 1.1 | 1.1 | 593 | 8.0 | |||||
| 2,001–5,000 | 2,052,042 | 2.3 | 2.3 | 589 | 7.9 | |||||
| 5,001–10,000 | 2,172,446 | 2.4 | 2.4 | 278 | 3.7 | |||||
| 10,001–20,000 | 1,820,287 | 2.0 | 2.0 | 120 | 1.6 | |||||
| 20,001–50,000 | 3,208,968 | 3.6 | 3.6 | 98 | 1.3 | |||||
| 50,001–100,000 | 2,992,897 | 3.4 | 3.4 | 41 | 0.6 | |||||
| 100,001 - | 72,921,600 | 81.6 | 81.6 | 66 | 0.9 | |||||
| Owned anonymously | 1,525,520 | 1.7 | 1.7 | N/A | N/A | |||||
| Total | 89,303,000 | 100.0 | 100.0 | 7,429 | 100.0 | |||||
Source: Modular Finance AB
| Ownership structure, 31 December 2019 |
|---|
| Share of capital and votes, % | ||
| Erik Selin Fastigheter AB | 12.8 | |
| Swedbank Robur Funds | 9.0 | |
| Avanza Pension | 7.4 | |
| Carve Capital AB | 5.0 | |
| Dimensional Fund Advisors | 3.4 | |
| BlackRock | 2.9 | |
| Per Arwidsson through closely related persons' holding | 2.9 | |
| Jörgen Olsson privately and through companies | 2.9 | |
| Confederation of Swedish Enterprise | 2.8 | |
| Catella Fonder | 2.4 | |
| Total 10 largest shareholders | 51.5 | |
| Other shareholders | 48.5 | |
| Total | 100.0 | |
Source: Modular Finance AB
