reports
- Stefan Gauffin
Telia Company (Buy, TP: SEK39.00) - On track towards full-year targets
Telia reported a solid Q1, with 1.8% service revenue growth YOY, 6.7% EBITDA growth, and SEK1.7bn in FCF. The performance strengthens our view that Telia can reach its full-year targets. We reiterate our BUY and have raised our target price to SEK39 (38.5).
Telia Company AB: 2 directors
Two Directors at Telia Company AB bought 36,000 shares at between 35.430SEK and 35.750SEK. The significance rating of the trade was 52/100. 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 t...
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- ABGSC Consumer Goods Research
- Daniel Thorsson
- Simon Granath
- Russell Waller
Telia (Neutral, TP: SEK 37, +5%) Q1 25: Impressive EBITDA acceleratio...
Telia has reported a good set of results, with SR, EBITDA, capex and all-in FCF all better than consensus expectations. The company sounded a note of caution on the call that Q1 Group trends were better than we should expect for the full year; having EBITDA and FCF in the bag already is a good thing, but full year guidance has been reiterated not raised.
Invitation to townhall meeting for shareholders
Invitation to townhall meeting for shareholders Orrön Energy AB (“Orrön Energy” or “the Company”) is pleased to invite shareholders to a townhall meeting in Stockholm on Tuesday, 20 May at 18:30 CEST. During the townhall, a presentation will be given by the Company’s CEO, Daniel Fitzgerald, and CFO, Espen Hennie, outlining the Company’s performance, strategy, and future outlook. The townhall will offer shareholders the opportunity to meet and ask questions to representatives of the Company’s Board of Directors and management team. More information and registration can be found on: Fo...
Inbjudan till informationsträff för aktieägare
Inbjudan till informationsträff för aktieägare Orrön Energy AB (”Orrön Energy” eller ”Bolaget”) bjuder in till en informationsträff för aktieägare i Stockholm på tisdagen den 20 maj kl. 18.30. Under informationsträffen kommer bolagets vd, Daniel Fitzgerald, och CFO, Espen Hennie, att hålla en presentation där de berättar om bolagets utveckling, strategi och framtidsplaner. Detta är ett utmärkt tillfälle för aktieägare att träffa och ställa frågor till representanter från bolagets styrelse och ledning. Mer information och registrering finns på: För mer information, vänligen kontakta...
- ABGSC Consumer Goods Research
- Daniel Thorsson
- Simon Granath
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Christoffer Wang Bjørnsen
Telenor (Sell, TP: NOK140.00) - Q1e slightly below consensus
We have made only limited estimate changes (except for an accounting change for the treatment of write-offs in associates) and are slightly below consensus on Q1e revenues, service revenues, adj. EBITDA, net profit and FCF. With Nordics opex cuts looking set to be back-end loaded this year, we expect Q1 to be a relatively uneventful quarter. We will look for more clarity on lower-quality cash flow tailwinds with regard to Telenor’s ability to cover its dividends with FCF before M&A this year, wh...
- Rune Majlund Dahl
Demant (Buy, TP: DKK300.00) - Headwinds set to persist in Q1
We forecast Q1 organic sales growth of just 0.6% YOY, below the full-year guidance, owing to persistent headwinds in wholesale. However, with Managed Care headwinds set to annualise from Q2, better quarters should lie ahead. We expect an unchanged 2025 guidance of 3–7% organic sales growth and DKK4.5bn–4.9bn in EBIT, but we find the lower end most likely. We reiterate our BUY but have cut our target price to DKK300 (320).
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
Webcast details for Orrön Energy’s Q1 presentation
Webcast details for Orrön Energy’s Q1 presentation Orrön Energy AB (“Orrön Energy”) will publish its financial report for the first quarter 2025 on Tuesday, 6 May 2025 at 07:30 CEST, followed by a webcast at 14:00 CEST. Listen to Daniel Fitzgerald, CEO and Espen Hennie, CFO commenting on the report and describing the latest developments in Orrön Energy at a webcast on 6 May 2025 at 14:00 CEST, followed by a question-and-answer session. Registration for the webcast presentation is available on the website and the below link: For further information, please contact: Robert ErikssonCorpo...
Inbjudan till webbpresentation av Orrön Energys rapport för det första...
Inbjudan till webbpresentation av Orrön Energys rapport för det första kvartalet 2025 Orrön Energy AB (“Orrön Energy”) publicerar den finansiella rapporten för det första kvartalet 2025 på tisdagen den 6 maj 2025 klockan 07.30, vilket följs av en webbpresentation klockan 14.00. Lyssna till Daniel Fitzgerald, vd och Espen Hennie, CFO som kommenterar rapporten och den senaste tidens utveckling inom Orrön Energy vid en webbpresentation den 6 maj 2025 klockan 14.00. Presentationen kommer att åtföljas av möjlighet att ställa frågor. Registrering för webbpresentationen finns på hemsidan och ned...
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Jørgen Lian
Another abrupt change
The US Trade Representative on 17 April published revised US port fees with significant changes to the initial proposal based on industry feedback. In its current form, the fees will primarily discourage use of Chinese-controlled maritime trade services to the US, and directly affect the use of Chinese-built vessels in US ports (with several considerable exemptions to avoid harm to US trade). The previous broader fees based on fleet composition and share of Chinese-built vessels has been scrappe...
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- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Si Yong Ng
- Stefan Gauffin
Telia Company (Buy, TP: SEK38.50) - Cost reductions visible in Q1e
Telia’s Q1 report is due at 07:00 CET on 24 April. Due to a changed reporting structure, there is no meaningful consensus. However, we believe our forecast will be about in-line with an updated consensus. We see an acceleration of EBITDA growth to >5% following a personnel reduction. We reiterate our BUY and raise the target price to SEK38.50 (38).
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Si Yong Ng
- Tanvi Arora
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