Report
Alexander Aukner ...
  • Christer Magnergård
  • Christoffer Wang Bjørnsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Huseby Karlsen
  • Niklas Wetterling
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Tomi Railo
Underlyings
Aker ASA Class A

Aker is an industrial investment company that exercises active ownership. Co. organizes its business activities in two segments: Industrial holdings and Financial investments. The industrial holdings comprise Co.'s ownership interests in Aker Solutions ASA, Kvaerner ASA, Det norske oljeselskap ASA, Ocean Yield ASA, Aker BioMarine ASA and Havfisk ASA. The financial investments comprise cash, real estate, investments in funds and other financial assets of Co. and holding companies, with the exception of industrial equity investments. Co.'s ownership interests are concentrated in the oil and gas, fisheries/marine biotechnology, maritime assets and finance sectors.

Atea ASA

Atea is a Nordic and Baltic supplier of Information Technology (IT) infrastructure. Co. delivers IT products from vendors. Co.'s business can be divided into three separate product and service areas: hardware, software and services. Co.'s hardware, software and services offerings are divided into four areas: Communication, which consists of communication and networks; Collaboration, which consists of video and web conferencing, IP telephony, AV solutions, Unified Communication solutions, mobility and chat; Clients, which consists of PCs, tablets, smartphones; as well as Data centres, which consists of servers, data storage, virtualization and management.

Bravida Holding AB

Bravida is a Nordic region end-to-end provider of technical installations and service for buildings and industrial facilities. Co. offers integrated solutions in electrical, heating & plumbing and HVAC. Co. provides end-to-end services within these three areas, from consulting and project planning, to installation and service. Co.'s electrical installation business offers integrated solutions for lighting, heating and energy supply. Co.'s heating & plumbing segment provides integrated solutions for water, waste water, energy, heating and cooling.

Genmab A/S

Genmab is a biotechnology company specializing in the creation and development of differentiated human antibody therapeutics focused on the treatment of cancer. Co.'s product pipeline includes one marketed product, Arzerra, daratumumab in late stage clinical development, four antibodies in clinical development, and over 20 in-house and partnered pre-clinical programs. Co.'s Arzerra (ofatumumab) is a human monoclonal antibody which targets an epitope on the CD20 molecule. Co.'s proprietary technologies include the DuoBody technology, which creates antibodies that can target two molecules at once, and the HexaBody technology, which allows for the creation of more potent antibodies.

Husqvarna AB Class B

Husqvarna AB produces outdoor power products. Products include: robotic lawn mowers, chainsaws, handheld petrol-powered products such as clearing saws and trimmers, garden tractors, and lawn mowers. Co. is also engaged in providing consumer watering products, cutting equipment and diamond tools for the construction and stone industries. Co.'s products and solutions are sold via dealers and retailers. Co. has three business areas: Europe & Asia/Pacific and Americas, which provide forest, park and garden products to dealers and retailers in Europe and Asia/Pacific, and in North and Latin America, respectively; and Construction, which provides light construction products and diamond tools.

Kungsleden AB

Kungsleden is a property company based in Sweden. Co.'s property holdings consist of commercial premises in Greater Stockholm, Malardalen, southwest Sweden and growth towns in Norrland. The portfolio is segmented into Office, Industrial/warehouses, Retail and Other. Co.'s operating segments are properties, which manage and develop properties and provides premises for external customers; and Nordic Modular, which lets modular buildings in a corresponding way as traditional premises and also produces and sells modules to external customers. As of Dec 31 2013, Co. had 366 total properties, of which 139 were offices, 135 were industrial/warehouses, 68 were retail, and 24 were other properties.

Norway Royal Salmon ASA

Norway Royal Salmon has developed from a sales and marketing company for farmed salmon into an integrated seafood company. Co. is a fish farming company with activities in two main segments: fish farming and sales. The fish farming business includes salmon farming and harvesting activities. The fish farming business is divided into two regions: Region North, which consists of the fish farming business in Senja and West Finnmark; and Region South, which consists of the fish farming business in the area around Haugesund. The sales segment includes the purchase and sale of salmon, as well as Co.'s chain management activities.

Novozymes A/S Class B

Novozymes is a biotechnology company based in Denmark. Co.'s business operations are centered on the development of industrial enzymes, microorganisms, and biopharmaceutical ingredients. Co. provides business-to-business biological solutions used in the production of numerous products such as biofuel, detergents, feed, and crops. Co.'s business operations are organized along two segments: the Enzyme Business which is divided into four areas, providing industrial enzymes for household care, food & beverages, bioenergy, and feed & other technical; and the BioBusiness which is home to Co.'s microorganisms and biopharmaceutical ingredients.

TGS-NOPEC Geophysical Company ASA

TGS Nopec Geophysical provides geoscience data to oil and gas exploration and production companies worldwide. In addition to global geophysical and geological data libraries that include seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, Co. also provides advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.

Unibet Group SDR

Wartsila Oyj Abp

Wartsila provides lifecycle power solutions for the marine and energy markets. Co.'s operations can be divided into three segments: Power Plants, in which Co. is a supplier of flexible baseload power plants of up to 600 MW operating on various gaseous and liquid fuels; Ship Power, in which Co. is a provider of products and integrated solutions such as medium-speed diesel and gas engines, low-speed engines, propulsion systems and gears, and seals and bearings; as well as Services, in which Co. supports its customers throughout the life cycle of their installations and provides services including spare parts to operational and maintenance service for both the energy and marine markets.

Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Alexander Aukner

Christer Magnergård

Christoffer Wang Bjørnsen

Jon Masdal

Karl-Johan Bonnevier

Martin Arnell

Martin Huseby Karlsen

Niklas Wetterling

Ole-Andreas Krohn

Rune Majlund Dahl

Tomi Railo

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