Hoist Finance’s market capitalisation was SEK 3,256 million based on the last price paid on 30 December 2020, which was SEK 36.46 per share.
Share performance in 2020
Hoist Finance’s share price decreased 27 per cent in 2020, while the total OMX Stockholm PI index increased 12.9 per cent. The highest closing price quoted during the year was SEK 58.5, on 12 February 2020, and the lowest closing price was SEK 18.93, on 15 May 2020.
A total of 192 million Hoist Finance shares1) were traded on all trading platforms during 2020, while the average daily trading volume was 762,275 shares. Trading on Nasdaq Stockholm accounted for 93.1 per cent (83.5) of total trading volume in the Hoist Finance share.
Beta value and volatility
The beta value of the Hoist Finance share was 1.53 in 2020 (1.01). 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 62.3 per cent (52.2) in 2020. This figure shows the daily share price movements in relation to its average value.
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.
The number of shareholders was 6,877 at year-end 2020, a decrease of 7 per cent compared to prior year. Of Hoist Finance’s share capital, 84.9 per cent (84.6) is owned by Swedish investors1). 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.
The Board of Directors proposed that no dividend be distributed for 2020. The non-payment of dividends has a positive impact of 0.04 percentage points on the CET1 capital ratio as at 31 December 2020 (assuming a 25 per cent dividend payout).
Hoist Finance has a long-term senior unsecured debt rating of Baa3, with a negative 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 July 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.