Report
Alexander Aukner ...
  • Helene Kvilhaug Brøndbo
  • Jesper Ingildsen
  • Joachim Gunell
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Simen Aas
  • Stefan Gauffin
Underlyings
Atlantic Sapphire

Atlantic Sapphire AS. Atlantic Sapphire AS is a Norway-based company, which farms Atlantic salmon in land-based recirculating systems in Denmark and the United States. The Company uses the production technology Bluehouse, which comprises the entire production cycle - from an egg hatchery to harvested fish ready for truck pick-up. Also, the Bluehouse implies production free of antibiotics, hormones, pesticides, metals and synthetic pigment. The product portfolio includes whole fish, as well as a range of fillets and cuts. The customers comprise primarily restaurants and retail stores on the Unites States market. Also, the Company exports products to such markets as Canada, Chile and Europe.

Atlas Copco AB Class A

Atlas Copco provides industrial productivity products and services. Co.'s operations are divided into four business areas: Compressor Technique (provides compressors, vacuum solutions, gas and process compressors and expanders, air and gas treatment equipment and air management systems), Industrial Technique (provides power tools, assembly systems, quality assurance products, software and service through a global network), Mining and Rock Excavation Technique (provides equipment for drilling and rock excavation), and Construction Technique (provides construction and demolition tools, portable compressors, pumps and generators, lighting towers, and compaction and paving equipment).

Axfood AB

AxFood AB is a food retail company. Co. conducts food retail and wholesale business in Sweden. Retail business is conducted through the Willys, Hemkop and PrisXtra chains, with a total of 252 Co.-owned stores at Dec 31 2013. In addition, Co. collaborates with a number of proprietor-run stores that are tied to it through agreements, including stores in the Hemkop chain as well as stores operating under the Handlar'n, Tempo and Direkten brands. Wholesaling is conducted by Dagab and Axfood Narlivs, whose customers consist primarily of mini-markets, service stations and other convenience stores. Axfood Narlivs also operates 20 cash and carry outlets via the subsidiary, Axfood Snabbgross AB.

Carlsberg A/S Class B

Carlsberg is engaged in the production and sale of beer and other beverages. Co.'s brewing operations are concentrated in Northern and Western Europe, Eastern Europe and Asia, while markets outside these regions are serviced through exports and production under license. Co.'s other beverages include soft drinks, water and cider. In addition to beverage activities, Co. is also engaged in real estate.

Elisa Oyj Class A

Elisa is a telecommunications, ICT and online service company that served 2.3 million consumer, corporate and public administration organisation customers as of Dec 31 2014. Co. engages in telecommunications activities and provides ICT and online services in Finland and in selected international market areas. Co. and its subsidiaries' reportable operating segments are Consumer Customers and Corporate Customers. The Consumer Customer segment provides consumers and households with telecommunications services, such as voice and data services. The Corporate Customers segment provides to the corporate and community customers voice and data services, ICT solutions and contact center services.

ELOPAK ASA

Entra ASA

Entra ASA (Entra) is a Norway-based real estate company. It is engaged in development, letting and management of energy efficient buildings. Its portfolio comprises over 100 buildings with a total area of more than 1.3 million square meters and focus on office real estate in central locations. Entra is also engaged in project and land development activities. Its business is organized into four segments (regions) around Norway's four largest cities: Central Oslo, Greater Oslo, Southern and Western Norway, and Central and Northern Norway. Its strategic areas of concentration include Oslo and surroundings, Bergen, Stavanger and Trondheim. The Company is focused on the public sector, which represents approximately 80% of Entra's customers and tenants. Its legal structure comprises more than 40 property companies and special purpose vehicles (SPVs), a property management company Papirbredden Eiendom AS, several joint ventures and Oslo S Utvikling AS, a property development company.

Getinge AB Class B

Getinge is engaged in three business areas: Medical Systems, Extended Care and Infection Control. Medical System's product range includes surgical tables, surgical lamps, telemedicine, perfusion products, instruments for bypass operations, ventilators, anesthesia systems, synthetic vascular implants and stents. Extended Care's product range includes bathing and shower solutions, lifting equipment and mattresses for the treatment and prevention of pressure ulcers, as well as service and consulting. Infection Control's product range comprises disinfectors, sterilizers, information technology systems and related equipment, as well as service and consulting.

HMS Networks AB

HMS Networks AB (HMS) is a Sweden-based company engaged in the provision of communication technology for industrial automation. The Company provides solutions to connect industrial devices to networks and products enabling interconnection between different industrial networks. The Company's products are classified into two brands, namely Anybus and Netbiter. HMS, under the brand name Anybus, manufactures and markets intelligent communication technology for machines and electrically controlled equipment. Under the brand name Netbiter it develops and sells communication equipment that facilitates remote management through the Internet, either via the fixed telephony network or the mobile telephony network. The Company operates through numerous subsidiaries, including HMS Industrial Networks AB, IXXAT GmbH, a supplier of communication technology for industrial automation, machine manufacturing and the automotive industry, as well as eWON SA.

KINNEVIK INVESTMENTS AB

Svenska Handelsbanken

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

Helene Kvilhaug Brøndbo

Jesper Ingildsen

Joachim Gunell

Martin Huseby Karlsen

Mattias Holmberg

Niclas Gehin

Nicolas McBeath

Ole-Andreas Krohn

Patrik Ling

Simen Mortensen

Simen Aas

Stefan Gauffin

Other Reports on these Companies
Other Reports from DnB Markets

ResearchPool Subscriptions

Get the most out of your insights

Get in touch