Elektroimportøren (Buy, TP: NOK75.00) - Solid report
We consider this a positive report, including very strong revenue growth, higher gross margins, and solid EBITDA significantly above expectations. We expect a c5% increase in consensus 2021 EBITDA on the back of the positive outlook comments and believe a positive 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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