Aker Biomarine (Hold, TP: NOK38.00) - Q1 broadly in line
We see this as a fairly neutral report for Aker BioMarine, with figures slightly below expectations in the Ingredients and Brands segments, but higher adjustments. The company expects regulatory approval for krill oil sales in South Korea in 15 days. We expect minor revisions to consensus 2023e adj. EBITDA on the back of the report and expect a broadly neutral share price reaction.
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.
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