Report
Johan Skoglund
EUR 91.91 For Business Accounts Only

OX2 (Buy, TP: SEK75.00) - Slow Q1, but strong outlook

Q1 brought low project sale volumes, leading to negative EBIT due to a larger organisation YOY. However, OX2 now has c2GW in active sales processes, a large share of which is onshore, and management maintained its guidance for YOY EBIT growth in 2024. We reiterate our BUY and SEK75 target price, and have raised our 2025e EBIT by 2%.
Underlying
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
Johan Skoglund

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