Otovo Minor model adjustments
We have updated our estimates ahead of the Q2 results due at 07:00 CET on 20 August to reflect somewhat lower installations in the quarter. We do not consider these changes to be material. We forecast Q2 EBITDA of NOK-87m, 3% above consensus of NOK-90m, reflecting 1.7k installations in the quarter and a reduction in opex from the company’s cost-cutting programme. We continue to have no recommendation or target price on Otovo.
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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