DNBC
Christoffer Wang Bjørnsen
Christoffer.Wang.Bjornsen@dnbcarnegie.no
+47 469 65 185
ABG Sundal Collier
Øystein Lodgaard
oystein.lodgaard@abgsc.no
+47 90 50 11 60
SB1 Markets
Lisa Wiermyhr
lisa.wiermyhr@sb1markets.no
+47 47 65 94 70
Arctic Securities
Halvor Aasen Dybdahl
Halvor.dybdahl@arctic.com
+47 90 11 18 85
Disclaimer: The estimates shown are the analysts’ own views, not Appear ASA’s guidance or forecast. Appear ASA does not verify, endorse or update the figures.
| NOK million | Q4 2026E Avg. | FY2026E Avg. | FY2027E Avg. |
|---|---|---|---|
| Revenue | 224 | 817 | 984 |
| EBITDAC | 23 | 58 | 125 |
| EBIT | 31 | 90 | 158 |
| Profit before tax | 34 | 90 | 173 |
| Net profit | 26 | 68 | 135 |
| Number of estimates | 3 | 3 | 3 |
- Collected: October 29th – November 1st 2026. Contributors: SpareBank 1 Markets, ABG Sundal Collier and DNB Markets.
- Method: Estimates from 3 analysts, collected by Appear IR between October 29th and November 1st 2026. Figures shown are the average across all estimates received, with no adjustments.
Dividend Policy
When deciding whether to propose a dividend and determining its amount, the board of directors will consider the legal restrictions outlined in the Norwegian Public Limited Companies Act, Appears’ capital needs, including expenditure requirements, its financial position, overall business conditions, and any limitations arising from contractual obligations at the time.
Appear believes that prioritising long-term investments and the growth and development of the business will best serve its shareholders. The company does therefore not anticipate paying dividends in the short to medium term, as profits are intended to be reinvested in both organic and inorganic growth initiatives, as well as product and technology innovation.
Appear will continuously assess its capital allocation strategy going forward, prioritising investments in organic growth and acquisitions over dividends when these are expected to deliver an attractive return on capital.