In the past week, the average return was -4.4%. The land-based fishing company, Atlantic Sapphire, declined by over 80% following poor Q2 results. On the other hand, CAMBI, a developer of waste handling solutions performed very well after strong Q2 results with 29% revenue growth. The top 10 list of best-performing stocks year-to-date changed dramatically last week, with 5 companies being replaced.
NORDIC | IMPACT Helps you to invest more sustainably in the businesses of tomorrow. We track the development of more than 100 Nordic impact companies within multiple impact sectors from small to large cap.
All sectors were in decline last week
In the past week, all sectors declined. The food & beverage sector was severely hit with an 11% decline. Atlantic Sapphire fell over 80% following disappointing harvest-related and new financing. It did not help that one board member sold shares for over MNOK 2.8 following the decline. The mobility sector is now the only sector with a positive return year-to-date. It is mainly due to the strong performance by the bike-sharing company Donkey Republic with a 38% increase after record revenues. The stock is trading at a price-to-sales multiple of 1.2 and a price-to-EBITDA multiple of 7.8 using the midpoint of their guidance for 2024.
The average return of impact stocks in the past week was -4.4%. All sectors are still down year-to-date except for the mobility sector; thus, they are underperforming relative to the majority of global indexes that have risen.
Overview of the performance of each sector the past week
TOP 10 IMPACT STOCKS OF THE WEEK
Circle Energy Sweden AB (16%) aims at establishing waste gasification and incineration plants that produce electricity and heat and acquiring renewable energy projects and companies. It is worth noting that the company has a market cap. of only MSEK 7, and there is almost no volume in the stock.
Cambi ASA (14%) is a developer of technological systems and processes that are used to break down various waste and sludge. The technology is mainly used for sewage treatment and for handling food waste, which is later broken down into biogas. The business is run via most production facilities around the Nordic domestic market. Cambi rose following good quarterly results with revenues growing 29% YoY to MNOK 306 in Q2.
Enersize Oyj (12.5%) develops software for various data collection and analysis. The services are used in industrial compressed air systems, with the goal of increasing the energy savings of the company’s customers. Customers are found in a number of different industries such as the automotive industry, steel, and the electronics industry.
The average return for the top 10 impact stocks last week was 10.4%. Very low returns compared to other weeks.
The 10 best-performing stocks in the past week
TOP 10 IMPACT STOCKS OF THE YEAR
Volue continues to be the best-performing stock year-to-date with a 96% return. Thus, no stock has delivered a 100% return. Let’s see if that changes next week. The top 10 list usually stays quite consistent, however, last week there were 5 changes! Cell Impact, BPC Instruments, Donkey Republic, Bioextrax and Tomra Systems moved in, while SaltX Technologies, Clean Motion, Chromogenics, Nordic Aqua Partners, and Agilyx moved out.
The current average return of the top 10 stocks year-to-date is 43.4%.
The return for the top 10 impact stocks year-to-date
All sectors year-to-date
Waste Management
The waste management sector, characterized by its essential and non-cyclical nature, should present a stable investment opportunity with long-term potential, driven by increasing environmental awareness, regulatory demands, and the growing need for efficient waste disposal and recycling solutions. Despite this, the majority of the stocks have performed negatively this year. Bioextrax, Tomra Systems, and Scandinavian Enviro Systems have created the largest return year-to-date.
Waste Management – YTD
Energy Production & Storage
The Energy Production and Storage sector offers substantial investment opportunities, as it stands at the forefront of the transition towards renewable energy sources, driven by climate concerns and technological advancements. Year-to-date, 7 stocks have delivered a positive return.
Energy Production & Storage – YTD
Energy Production Equipment & Services
The Energy Production Equipment & Services provides technical equipment and machines to other energy-producing companies such as Ørsted. The sector is to some extent influenced by oil and gas price fluctuations and industry trends. Year-to-date, Volue is by far the best performer.
Energy Production Equipment & Services – YTD
Power2X & Fuel Cells
The Power-to-X and Fuel Cells sector offers exciting investment opportunities in the evolving landscape of clean and sustainable energy technologies, but investors should also be mindful of the evolving regulatory and competitive landscape in this rapidly advancing field. Cell Impact and Everfuel are the only stocks to have had a positive impact on the sector year-to-date.
Power2X & Fuel Cells – YTD
Food & Beverages
The food and beverages sector is heavily driven by consumer demand and having strong brands is a major advantage. Investors should consider factors such as changing consumer preferences, health and sustainability trends, and global supply chain dynamics to identify promising opportunities. Year to date, 2 stocks have delivered a +40% return.
Food & Beverages – YTD
CO2 & Carbon Capture
The CO2 and Carbon Capture sector presents compelling investment opportunities for companies capturing and removing carbon dioxide from the atmosphere. It is a small sector comprising only 6 stocks, with ChromoGenics as the best and Capsol Technologies as the second best-performing year-to-date.
CO2 & Carbon Capture sector YTD
Mobility
The mobility sector includes among others ride-sharing platforms and the development of electric vehicles to lower emissions and costs for consumers while increasing flexibility. Mobility is the smallest sector we track totaling 5 stocks. Donkey Republic is by far the best performer in 2024.
Mobility YTD
