Vow (Hold, TP: NOK21.00) - Progress in delivery of Follum
We forecast Q1 revenue of NOK200m, with the increase YOY and QOQ mainly coming from the execution of the Follum project. In the coming few quarters, we believe the focus will be on the margin achieved on Follum and order intake in Landbased, as Q1 was another soft quarter (no contracts announced). We reiterate our HOLD and NOK21 target price.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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