reports
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- ABGSC Renewable Energy Research
- Adrian Gilani
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Olof Cederholm
- Stian Wibstad
ORSTED ORSTED
HEX HEXAGON COMPOSITES ASA
NEL NEL ASA
SSO SCATEC ASA
EOLU B EOLUS VIND AB
FKRFT FJORDKRAFT HOLDING ASA
CADLR CADELER
VOLUE VOLUE AS
A2QKGG HEXAGON PURUS
ZAP ZAPTEC
VWS VESTAS WIND SYSTEMS
EWIND EDDA WIND ASA
TOM TOMRA SYSTEMS ASA
IWS-NO INTEGRATED WIND SOLUTIONS
OX2-SE OX2
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
Schouw & Co. share buy-back programme, week 19 2024
Schouw & Co. share buy-back programme, week 19 2024 On 4 March 2024, Schouw & Co. initiated a share buy-back programme as outlined in Company Announcement no. 13 of 1 March 2024. Under the programme, Schouw & Co. will acquire shares for up to DKK 200 million during the period 4 March 2024 to 31 December 2024. The buy-back will be structured in accordance with Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) and the Commission’s delegated regulation (EU) 2016/1052 of 8 March 2016 (“Safe Harbour” rules). Trading day No...
- Helene Kvilhaug Brøndbo
Trump vows to stop offshore wind development with executive order on d...
Over the weekend, former US president Donald Trump said he would issue an executive order targeting offshore wind on his first day as president if elected. A president can issue an executive order directing a study of the impact while halting permitting of new projects. While this could negatively affect US permitting and thus the growth of offshore wind in the country, all other elements for the wind farms are determined on a state level. Hence, permitted wind farms would likely see a limited e...
- Helene Kvilhaug Brøndbo
Positive read-across from OX2 offer
This morning, renewable energy project developer OX2 announced it has received an offer from infrastructure fund EQT at a 43.4% premium to Friday’s close. We view this as further evidence of a greater willingness to pay for renewables in the private markets than the public ones, and thus believe the bid offers a positive read-across for renewable energy companies with strong development capabilities in the Nordics/Northern Europe, such as Cloudberry and Bonheur. We also believe it could be posit...
- Ole Martin Westgaard
Elmera Group (Sell, TP: NOK21.00) - Time to recharge
The Q1 results were above our forecasts, but cash flow was weak. We expect the key focus ahead to be the need for a new bank facility, which we are concerned could come at an increased financial cost. We have made minor estimate changes and reiterate our SELL and NOK21 target price.
- ABGSC Renewable Energy Research
- Adrian Gilani
- Åsne Holsen
- Daniel Vårdal Haugland
- Haakon Amundsen
- John Olaisen
- Olof Cederholm
- Stian Wibstad
ORSTED ORSTED
HEX HEXAGON COMPOSITES ASA
NEL NEL ASA
SSO SCATEC ASA
EOLU B EOLUS VIND AB
FKRFT FJORDKRAFT HOLDING ASA
CADLR CADELER
VOLUE VOLUE AS
A2QKGG HEXAGON PURUS
ZAP ZAPTEC
VWS VESTAS WIND SYSTEMS
EWIND EDDA WIND ASA
TOM TOMRA SYSTEMS ASA
IWS-NO INTEGRATED WIND SOLUTIONS
OX2-SE OX2
- ABGSC Renewable Energy Research
- Ali Shemmari
- Petter Nystrøm
Scatec ASA - Approval of Supplement to Base Prospectus
Scatec ASA - Approval of Supplement to Base Prospectus Oslo 8 May 2024: The Financial Supervisory Authority of Norway has on 6 May 2024 approved the Supplement to Base Prospectus with appendices prepared by Scatec ASA (the Company) in connection with the listing on the Oslo Stock Exchange of the Company's NOK 1,750 million senior unsecured green bond issued on 31 January 2024, with maturity in February 2028 (with ISIN: NO0013144964). The Supplement to Base Prospectus is attached and published on the Company's website: . For further information, please contact: Cecilie Engh...
- Ole Martin Westgaard
Elmera Group (Sell, TP: NOK21.00) - Q1 EBIT above
We consider this a positive report for Elmera overall, including EBIT above expectations but deliveries slightly below (but above in Consumer), and weak operating cash flow due to significant working capital movements. We expect 3% positive revisions to consensus 2024e EBIT on the back of the report and believe a positive share price reaction is warranted.
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
Schouw & Co. share buy-back programme, week 18 2024
Schouw & Co. share buy-back programme, week 18 2024 On 4 March 2024, Schouw & Co. initiated a share buy-back programme as outlined in Company Announcement no. 13 of 1 March 2024. Under the programme, Schouw & Co. will acquire shares for up to DKK 200 million during the period 4 March 2024 to 31 December 2024. The buy-back will be structured in accordance with Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) and the Commission’s delegated regulation (EU) 2016/1052 of 8 March 2016 (“Safe Harbour” rules). Trading day No...
- Helene Kvilhaug Brøndbo
Bonheur (Buy, TP: NOK275.00) - Limited knock-on effects from the weak ...
Bonheur reported Q1 EBITDA well below expectations (25% below our estimate and 33% below consensus), but we see limited knock-on effects for the rest of the year. Hence, we have lowered our 2024e EBITDA by 5% on the weaker-than-expected Q1 results, and raised our 2025–2026e EBITDA by 2–1% on a weaker NOK. We reiterate our BUY and NOK275 target price, and see the stock trading at an attractive 28% discount to our NAV and a 15% discount to our target price.
Orsted AS: 1 director
A director at Orsted AS bought 1,260 shares at 396.140DKK and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sho...
Notification of managers’ transactions
Ørsted A/S (Orsted) Notification of managers’ transactions 03-May-2024 / 12:57 CET/CEST 3.5.2024 12:57:18 CEST | Ørsted A/S | Managers' Transactions Ørsted A/S has received the enclosed notification pursuant to Article 19 of EU Regulation no. 596/2014 of transactions related to shares in Ørsted A/S made by persons discharging managerial responsibilities in Ørsted A/S and/or persons closely associated with them. See the transactions of Chair of Ørsted’s Board of Directors Lene Skole in the attached PDF documents. For further information, please contact: Global Media RelationsCarst...
- Jerôme Bodin
LR LEGRAND SA
FRA FRAPORT AG
LI KLEPIERRE SA
ALV ALLIANZ SE
ORSTED ORSTED
RAA RATIONAL AG
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
IHG INTERCONTINENTAL HOTELS GROUP PLC
MRNA MODERNA INC.
VWS VESTAS WIND SYSTEMS
UMG UNIVERSAL MUSIC GROUP NV
DSY DASSAULT SYSTEMES SA
DTG DAIMLER TRUCK
LIN LINDE PUBLIC LIMITED COMPANY
SHUR SHURGARD SELF STORAGE LIMITED
- Bruno Cavalier
- Jerôme Bodin
LR LEGRAND SA
FRA FRAPORT AG
LI KLEPIERRE SA
ALV ALLIANZ SE
ORSTED ORSTED
RAA RATIONAL AG
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
IHG INTERCONTINENTAL HOTELS GROUP PLC
MRNA MODERNA INC.
VWS VESTAS WIND SYSTEMS
UMG UNIVERSAL MUSIC GROUP NV
DSY DASSAULT SYSTEMES SA
DTG DAIMLER TRUCK
LIN LINDE PUBLIC LIMITED COMPANY
SHUR SHURGARD SELF STORAGE LIMITED
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- Louis Boujard
- CFA
- Philippe Ourpatian
Ørsted : An uninspiring publication but offshore reassures
>Good Q1 results on offshore but not so good on the rest - Yesterday, Ørsted published Q1 2024 EBITDA of DKK 7,488m (+8 %) vs DKK 7,700m estimated (ODDO BHF and the consensus). EBIT was DKK 5,065m (+13 %) vs DKK 5,200m (ODDO BHF) and DKK 5,400m (consensus). Adjusted net profit fell below expectations at DKK 2,609m (-19%) vs an average estimate of DKK 3,400m (ODDO BHF and the consensus). The poor performance at the net profit level was due the booking of a tax liabilit...
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