Vow (Hold, TP: NOK21.00) - EBITDA in line on margin beat
Vow reported Q1 EBITDA in line with our estimate and consensus, despite lower revenues, implying higher margins, which we consider a positive. However, we believe it is still too early to reach any longer-term conclusions. The company maintained its 2022 revenue target of “almost doubling from 2021 levels”. We expect minor positive consensus estimate revisions following the report, and see a small positive share price reaction today as warranted.Scanship Holding ASA in Norway-based company that designs, engineers, and produces solutions for waste management and wastewater purification for the cruise industry. The Company is also present in aquaculture industry where its products prevents pollution to sea and enable recirculation of valuable resources from fish production.
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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