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Catalyst Potential

It is important to look beyond the numbers and seek a likely catalysts, which could unlock value, and estimate how long it will take for the catalyst to play out. These events, or Catalyst Potential, reduce risk by narrowing the gap between price and value in a more predictable way. This is particularly important when investing in a low-quality business where time is like a ticking bomb stacked against the company.

Catalyst Potential is a Premium members feature in Redeye Universe.

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Redeye Rating

Kristoffer Lindström

Equity Analyst

kristoffer.lindstrom@redeye.se

+46854501330

Company Quality

  • 7.0
  • 9.0
  • 6.5
  • 0.0
  • 4.0

Leadership

Exclusive for members
The CEO and other senior executives have a long experience from the digital media industry. The increased focus on myTaste and the restricting of the group (close down of the Barcelona branch) is the right decision according to us as it demonstrates a strategic decision to increase their long-term competitive position. A key input in our rating is the compensation packages to the CEO and the board. We find the compensation levels as moderate, and we see a clear focus on share ownership rather than high remuneration and bonuses. For the rating to increase, we would like to see greater transparency regarding financial and operational objectives.

Ownership

Exclusive for members

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Profit outlook

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Profitability

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Capital Strength

Exclusive for members

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Key Model Assumptions - The Bear Case

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Key Model Assumptions - The Bull Case

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Key Model Assumptions - The Base Case

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Latest price

Exclusive for members

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Fair Value Range

Last Price
Key Model Assumptions - The Bear Case
Key Model Assumptions - The Bull Case
Key Model Assumptions - The Base Case

Catalyst Potential

Impact

Timeframe

Short
Mid
Long

Company description

myTaste Group (name change from 203 Web Group during 2016) is a digital media house with 35 employees headquartered in Stockholm, Sweden. The company excels in constructing scalable and auto-generated web products. The concepts behind the products are language independent, which means they can be applied on a multinational level and are today represented in 48 markets spread out all over the world. Read more...
myTaste Group (name change from 203 Web Group during 2016) is a digital media house with 35 employees headquartered in Stockholm, Sweden. The company excels in constructing scalable and auto-generated web products. The concepts behind the products are language independent, which means they can be applied on a multinational level and are today represented in 48 markets spread out all over the world. myTaste were founded in 2003, and their share are traded on Nasdaq Stockholm First North. For the year 2015, the Group reported net sales of SEK 55.8m with a negative EBIT of SEK -6.9m. Corporate restructuring during 2015 will positively affect the profitability levels during 2016 and onwards. 203 Web Group have two divisions; myTaste and Shopello. The primary focus is on myTaste with the transition of website visitors to app users to fuel future growth and value creation.

myTaste; myTaste is one of the world's largest food sites with social functionality. The primary source of income is advertising. The segment consists of the Group's food-related sites; myTaste, Matklubben, Vinklubben, and Bodegashop.com. The most notable competitive advantages of myTaste are the networking effect; through the food blog network, adding scalability and user generated social content.

Shopello; Shopello is an e-commerce platform which promotes other web shops products and receives revenue through the mediation of traffic. The segment includes, besides Shopello, Allannonser.se and Mbler.se which are two of the Group's wholly owned partner sites.
Less...

TODAY

Day High
5.65
5.65
0.00
0.0%
Day Low
5.65
Day Open
5.50
Prev Close
5.65
VWAP
5.7
Volume
1K
Turnover
0.005M
Top Broker
AVA
VWAP
5.6
Avg Volume
62K
Avg Turnover
0.348M
Top Brokers
AVA/NON

52 WEEK SUMMARY

Price Range
Beta
n/a
Market Cap
99.5M
Total Return
-53.7%
Trailing P/E
-81.2
Div Yield
0.0%
Shares Outstanding
17.6M
Next Earnings Date
12 May
Stock Exchange
First North Stockholm

Identify and measure trend strength in stocks with our Momentum tool to identify potential entry and exit signals. The tool provides a set of the most simple but powerful indicators that identify whether a stock is under sell or buy pressure.

Relative Price Strength
Rel Price Chg 3 Months -41.5%
Rel Price Chg 12 Months -60.6%
Volume Trend
Avg Vol 10 vs 60 Days 80.6%
Price vs...
52-Week High -56.2%
50-Day Moving Average -19.9%
200-Day Moving Average -35.4%

Historic pricing of myTaste

Last price: 5.65 SEK

Loading data...

Prev Close [[ prevClose|number:2 ]] SEK Change [[ changeValue|number:2 ]] %
High [[ highValue|number:2 ]] SEK Avg Daily Volume [[ avgVolume|number:0 ]] Shares
Low [[ lowValue|number:2 ]] SEK Avg Daily Turnover [[ graphAvgTurnover|number:2 ]] SEK

Management

Jonas Soderqvist, CEO
Ewa Wodmar, CFO

Executive Board

Henrik Kvick, Chairman of the board
Andereas Friis
Jonas Soderqvist
Allan Voreck

Last updated: 2017-03-29 Source: Redeye

Major Holders

Owner Equity Votes
Jonas Soderqvist 25.4%
25.8%
Henrik Kvick 24.1%
24.3%
Andereas Friis 22.7%
23.0%
Netfonds ASA 4.5%
4.6%
SEB Life 3.4%
2.9%
Avanza Pension 1.9%
2.0%
Hegel AB 1.3%
1.4%

Last updated: 2017-03-29 Source: Redeye

Insider transaction summary

Total insider purchases and sales reported

Timeframe Transactions Net Shares
Last 12 Weeks

0 Purchases

+ 0

0 Sales

- 0

Last 24 Weeks

0 Purchases

+ 0

0 Sales

- 0

Most recent insider transactions

Exclusive for members
Report Date Name Position Transaction Shares Chg Est Value (SEK)
2015-12-15 Svensson, Sture ANB Sale + 92 45
2015-12-15 Kvist, Malin ANB Sale + 22 65
2015-12-15 Svensson, Kim ANB Sale + 25 93
2015-12-15 Svensson, Kim ANB Sale + 36 53
2015-12-15 Kvist, Kim ANB Sale + 100 18

Source: Millistream – FI

More
  • Profitability
  • ROE
  • ROCE
  • ROIC
  • EBITDA margin
  • EBIT margin
  • Net margin
  • Per share data (SEK)
  • EPS
  • EPS adj
  • Dividend
  • Net debt
  • Total shares
  • Valuation
  • EV (SEKm)
  • P/E
  • P/E diluted
  • P/Sales
  • EV/Sales
  • EV/EBITDA
  • EV/EBIT
  • P/BV
  • Capital structure
  • Equity ratio
  • Debt/equity ratio
  • Net debt (SEKm)
  • Capital employed (SEKm)
  • Capital turnover rate
Previous year Next year
2014
  • 0.0%
  • -72.8%
  • 0.0%
  • -16.1%
  • -26.1%
  • -24.4%
  • -0.74
  • -0.74
  • 0.00
  • 0.12
  • 16.6M
  • 95.8
  • -7.7
  • -7.7
  • 1.9
  • 1.9
  • -11.8
  • -7.3
  • 3.3
  • 51.7%
  • 4.2%
  • 2
  • 31
  • 0.9
2015
  • -33.7%
  • -18.2%
  • -22.2%
  • 2.6%
  • -13.7%
  • -16.8%
  • -0.51
  • -0.51
  • 0.00
  • 0.76
  • 16.6M
  • 106.4
  • -11.0
  • -11.0
  • 1.9
  • 2.1
  • 81.4
  • -15.3
  • 4.2
  • 41.1%
  • 11.9%
  • 13
  • 35
  • 0.9
2016
  • -37.2%
  • -21.1%
  • -24.1%
  • -3.4%
  • -19.5%
  • -18.9%
  • -0.47
  • -0.47
  • 0.00
  • 0.78
  • 17.6M
  • 113.3
  • -11.9
  • -11.9
  • 2.3
  • 2.6
  • -76.4
  • -13.2
  • 4.4
  • 42.5%
  • 9.7%
  • 14
  • 37
  • 0.8
2017E
  • -25.2%
  • -14.2%
  • -14.9%
  • 0.7%
  • -13.5%
  • -12.0%
  • -0.29
  • -0.29
  • 0.00
  • 0.92
  • 17.6M
  • 115.8
  • -19.6
  • -19.6
  • 2.3
  • 2.7
  • 417.3
  • -20.2
  • 5.7
  • 34.6%
  • 17.7%
  • 16
  • 34
  • 0.8
2018E
  • 33.6%
  • 20.3%
  • 19.9%
  • 23.2%
  • 14.1%
  • 11.5%
  • 0.40
  • 0.40
  • 0.00
  • 0.71
  • 17.6M
  • 111.9
  • 14.0
  • 14.0
  • 1.6
  • 1.8
  • 7.8
  • 12.9
  • 4.0
  • 39.0%
  • 17.9%
  • 12
  • 37
  • 1.0
2019E
  • 54.5%
  • 44.1%
  • 48.6%
  • 35.7%
  • 27.9%
  • 22.1%
  • 1.05
  • 1.05
  • 0.00
  • 0.17
  • 17.6M
  • 102.5
  • 5.4
  • 5.4
  • 1.2
  • 1.2
  • 3.4
  • 4.4
  • 2.2
  • 52.9%
  • 13.5%
  • 3
  • 47
  • 1.0
Previous year Next year
    (SEKm)
  • Net sales
  • Total operating costs
  • EBITDA
  • Depreciation
  • Amortization
  • Impairment charges
  • EBIT
  • Share in profits
  • Net financial items
  • Exchange rate dif.
  • Pre-tax profit
  • Tax
  • Net earnings
Previous year Next year
2014
  • 50
  • -58
  • -8
  • -5
  • 0
  • 0
  • -13
  • 0
  • 1
  • 0
  • -12
  • 0
  • -12
2015
  • 51
  • -49
  • 1
  • -8
  • 0
  • 0
  • -7
  • 0
  • -2
  • 0
  • -9
  • 0
  • -9
2016
  • 44
  • -46
  • -1
  • -7
  • 0
  • 0
  • -9
  • 0
  • 0
  • 0
  • -8
  • 0
  • -8
2017E
  • 3
  • 7
  • 3
  • 6
  • 2
  • 2
  • 9
  • 6
  • 3
  • 9
  • 6
  • 4
  • 3
Q1E
  • 6
  • 1
  • 10
  • 1
  • 1
  • 10
  • 10
  • 9
  • 8
  • 6
  • 2
  • 7
  • 0
Q2E
  • 8
  • 8
  • 3
  • 7
  • 3
  • 2
  • 8
  • 4
  • 10
  • 10
  • 5
  • 8
  • 2
Q3E
  • 9
  • 2
  • 3
  • 8
  • 4
  • 4
  • 0
  • 9
  • 0
  • 3
  • 5
  • 4
  • 10
Q4E
  • 0
  • 10
  • 9
  • 10
  • 0
  • 6
  • 3
  • 7
  • 9
  • 9
  • 1
  • 10
  • 4
2017E
  • 2
  • 0
  • 6
  • 9
  • 9
  • 1
  • 3
  • 8
  • 2
  • 10
  • 4
  • 2
  • 4
2018E
  • 7
  • 6
  • 7
  • 5
  • 7
  • 4
  • 3
  • 1
  • 10
  • 6
  • 0
  • 0
  • 9
Q1E
  • 0
  • 4
  • 3
  • 3
  • 2
  • 3
  • 4
  • 4
  • 0
  • 10
  • 9
  • 9
  • 10
Q2E
  • 6
  • 8
  • 5
  • 6
  • 1
  • 10
  • 0
  • 5
  • 2
  • 3
  • 4
  • 9
  • 10
Q3E
  • 7
  • 0
  • 4
  • 4
  • 9
  • 0
  • 0
  • 2
  • 3
  • 10
  • 5
  • 4
  • 4
Q4E
  • 8
  • 10
  • 5
  • 9
  • 3
  • 10
  • 0
  • 5
  • 9
  • 0
  • 6
  • 5
  • 0
2018E
  • 0
  • 4
  • 10
  • 9
  • 7
  • 1
  • 8
  • 0
  • 8
  • 0
  • 7
  • 0
  • 6
2019E
  • 5
  • 2
  • 10
  • 8
  • 1
  • 7
  • 5
  • 7
  • 5
  • 6
  • 4
  • 9
  • 4
Previous year Next year
    (SEKm)
  • Assets
  • Current assets
  • Cash in banks
  • Receivables
  • Inventories
  • Other current assets
  • Current assets
  • Fixed assets
  • Tangible assets
  • Associated comp.
  • Investments
  • Goodwill
  • Cap. exp. for dev.
  • O intangible rights
  • O non-current assets
  • Total fixed assets
  • Deferred tax assets
  • Total (assets)
  • Liabilities
  • Current liabilities
  • Short-term debt
  • Accounts payable
  • O current liabilities
  • Current liabilities
  • Long-term debt
  • O long-term liabilities
  • Convertibles
  • Total Liabilities
  • Deferred tax liab
  • Provisions
  • Shareholders' equity
  • Minority interest (BS)
  • Minority & equity
  • Total liab & SE
Previous year Next year
2014
  • 5
  • 0
  • 0
  • 10
  • 15
  • 3
  • 0
  • 0
  • 13
  • 0
  • 23
  • 1
  • 40
  • 0
  • 55
  • 5
  • 17
  • 0
  • 22
  • 2
  • 0
  • 0
  • 25
  • 2
  • 0
  • 28
  • 0
  • 29
  • 55
2015
  • 5
  • 0
  • 0
  • 10
  • 15
  • 2
  • 0
  • 0
  • 13
  • 0
  • 23
  • 1
  • 39
  • 0
  • 54
  • 2
  • 12
  • 0
  • 14
  • 16
  • 0
  • 0
  • 30
  • 2
  • 0
  • 22
  • 0
  • 22
  • 54
2016
  • 4
  • 11
  • 0
  • 0
  • 16
  • 3
  • 0
  • 0
  • 13
  • 0
  • 22
  • 0
  • 38
  • 0
  • 54
  • 2
  • 11
  • 0
  • 13
  • 16
  • 0
  • 0
  • 30
  • 1
  • 0
  • 23
  • 0
  • 23
  • 54
2017E
  • 8
  • 7
  • 5
  • 6
  • 5
  • 3
  • 7
  • 9
  • 3
  • 7
  • 9
  • 8
  • 4
  • 3
  • 3
  • 7
  • 7
  • 3
  • 2
  • 5
  • 1
  • 1
  • 4
  • 10
  • 4
  • 10
  • 9
  • 6
  • 9
2018E
  • 6
  • 2
  • 10
  • 10
  • 6
  • 2
  • 8
  • 0
  • 10
  • 4
  • 0
  • 5
  • 5
  • 5
  • 10
  • 10
  • 7
  • 8
  • 5
  • 2
  • 2
  • 4
  • 5
  • 5
  • 9
  • 4
  • 5
  • 0
  • 7
2019E
  • 10
  • 6
  • 3
  • 2
  • 0
  • 2
  • 1
  • 8
  • 0
  • 9
  • 3
  • 3
  • 0
  • 1
  • 3
  • 8
  • 0
  • 5
  • 4
  • 5
  • 6
  • 4
  • 3
  • 1
  • 1
  • 10
  • 3
  • 8
  • 2
Previous year Next year
    (SEKm)
  • Net sales
  • Total operating costs
  • Depreciations total
  • EBIT
  • Taxes on EBIT
  • NOPLAT
  • Depreciation
  • Gross cash flow
  • Change in WC
  • Gross CAPEX
  • Free cash flow
Previous year Next year
2014
  • 50
  • -58
  • -5
  • -13
  • 0
  • -13
  • 5
  • -8
  • 7
  • -45
  • -43
2015
  • 51
  • -49
  • -8
  • -7
  • 0
  • -7
  • 8
  • 1
  • -5
  • -7
  • -11
2016
  • 44
  • -46
  • -7
  • -9
  • 0
  • -8
  • 7
  • -1
  • -2
  • -7
  • -0
2017E
  • 6
  • 10
  • 3
  • 4
  • 6
  • 7
  • 4
  • 9
  • 7
  • 9
  • 10
2018E
  • 2
  • 2
  • 6
  • 5
  • 8
  • 2
  • 0
  • 10
  • 2
  • 2
  • 10
2019E
  • 1
  • 1
  • 2
  • 9
  • 9
  • 6
  • 1
  • 3
  • 8
  • 3
  • 5
Previous year Next year
More