Report
Erik Cassel ...
  • Karl Bokvist

Nordic Waterproofing - Solid margins (for now)

Sales 9% better than ABGSCe 2021e EBIT up 7% >6% FCF yield ’22e on historical >10% EBITA CAGR
Underlying
Nordic Waterproofing Holding AS

Nordic Waterproofing Holding A/S is a Denmark-based company that produces and supplies waterproofing products and services for buildings and infrastructure. The Company offers, among others, bitumen membranes, EPDM (ethylene, propylene, diene, monomer) roofing membranes, insulation solutions, green grid, aluminum profile and outlets, ballasted roofing systems, facade waterproofing and air sealing solutions, basement tanking systems, geo-membranes, as well as parking and bridge membranes systems. The Company operates production facilities in Denmark, Finland and Sweden, and is primarily present in the Nordic countries, Belgium, Germany, the Netherlands, Poland and the United Kingdom. Its brand portfolio comprises AL-Katot, Hetag Tagmaterialer, Kerabit, KerabitPro, Mataki, Nortett, Phonix Tag Materialer, SealEco and Trebolit. The Company owns numerous subsidiaries, among others Taasinge Elementer A/S.

Provider
ABG Sundal Collier Sponsored
ABG Sundal Collier Sponsored

ABG Sundal Collier is the independent, Nordic investment banking powerhouse, developed over 30 years, founded on a hard working partnership culture and the ability to attract top talent.

Our strategy is to be an advisor and an intermediary, and the core product offering comprise corporate advisory services, corporate financing services and investor research and brokerage services.

Our corporate advisory team offers access to a broad financial and industrial network and unparalleled transaction experience. We provide financing to corporates through our superior Nordic and international distribution platform, and we are optimally structured for naturally matching trading flows, delivering best execution for clients.

The group employ approx. 250 staff working from the Nordic offices in Norway, Sweden and Denmark and in the offices in the key international markets US, UK and Germany. 


Analysts
Erik Cassel

Karl Bokvist

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