Report
Ole Martin Westgaard ...
  • Ole-Andreas Krohn
  • Simen Mortensen
Underlyings
Castellum AB

Castellum operates as a real estate company in Sweden. Co.'s real estate portfolio is located in five regions: Greater Gothenburg, Oresund Region, Greater Stockholm, Malardalen and Eastern Gotaland. At Dec 31 2013 Co.'s real estate portfolio comprised 626 properties, of which 324 were office/retail properties, 263 were warehouse/industrial properties, 16 were for project, and 23 were undeveloped land.

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.

Norwegian Property ASA

Norwegian Property operates in management, acquisitions, sales and development of commercial real estate, including participation in other companies as well as businesses which are related as such. Co.'s properties primarily comprise office premises with associated warehousing and car parks, and retail and catering space. Co.'s activities are organized in four business areas: marketing and letting; property management; property development; as well as transactions and financing. As of Dec 31 2013, Co. owned 41 office and commercial properties in Norway, located in Oslo, Baerum, at Gardermoen and in Slavenger.

SAS AB

SAS is engaged in providing transportation services. The core business of Co. is operating passenger flights on a Nordic and international route network. Co.'s three main operational hubs in Copenhagen, Stockholm and Oslo form the backbone of its flight network. In addition to passenger flights, Co. provides air cargo and other aviation services at selected airports in its route network. Co.'s operations include Scandinavian Airlines. In addition to the airline operations of the consortium Scandinavian Airlines System, Scandinavian Airlines also comprises ground operations, technical operations, SAS Cargo and Blue1. Scandinavian Airlines includes SAS Cargo and SAS Ground Handling.

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
Ole Martin Westgaard

Ole-Andreas Krohn

Simen Mortensen

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