Aker Biomarine (Hold, TP: NOK38.00) - Q4 in line, neutral 2023 guidance
We see this as a neutral report for Aker BioMarine, with figures in line with expectations and neutral 2023 guidance. The company also initiated a cost-cutting programme expected to have a USD10m cash impact by end-2023. We expect minor revisions to consensus 2023e adj. EBITDA on the back of the report and believe a neutral share price reaction is warranted.
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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