reports
- Jørgen Lian
Wallenius Wilhelmsen ASA (Buy, TP: NOK87.00) - Still-attractive value
We have cut our near-term forecast to reflect heightened uncertainty and more cautious full-year guidance, but remain confident that the majority (79%) of the current market cap should be derisked by end-2027e, leaving an attractive stub value for the long-term business potential in the world-leading car carrier. We reiterate our BUY, but have cut our target price to NOK87 (91).
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Genmab Announces Financial Results for the First Quarter of 2024
Genmab Announces Financial Results for the First Quarter of 2024 May 8, 2025 Copenhagen, Denmark; Interim Report for the First Quarter Ended March 31, 2025 Highlights EPKINLY® (epcoritamab) approved by the Japan Ministry of Health, Labour and Welfare (MHLW) for additional indication as a treatment for relapsed or refractory follicular lymphoma (FL)Rinatabart sesutecan (Rina-S®) continues to show encouraging antitumor activity in patients with advanced ovarian cancer in data presented at the 2025 Society of Gynecologic Oncology Annual Meeting on Women’s Cancer® (SGO) Tivdak® (tisotumab ved...
Millicom (Tigo) Q1 2025 Earnings Release
Millicom (Tigo) Q1 2025 Earnings Release Millicom (Tigo) Q1 2025 Earnings Release Luxembourg, May 8, 2025 – is pleased to announce its first quarter 2025 results. Please find below links to the Q1 2025 Earnings Release and IAS 34 Interim Condensed Consolidated Financial Statements. Q1 2025 Highlights* Revenue $1.37 billion Operating profit $423 million, and Adjusted EBITDA $636 million Net income $193 million, including approximately $95 million in one-time gains Equity free cash flow $135 million, excluding $42 million of net proceeds from disposals - leverage 2.47x Robust c...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Transactions in Connection with Share Buy-back Program
Transactions in Connection with Share Buy-back Program Company Announcement COPENHAGEN, Denmark; May 5, 2025 – Genmab A/S (Nasdaq: GMAB). On March 25, 2025, Genmab announced the initiation of a share buy-back program to repurchase up to 2.2 million shares to reduce capital and to honor our commitments under the Restricted Stock Unit program. The share buy-back program is expected to be completed no later than July 10, 2025. The following transactions were executed under the program from April 28 to May 2, 2025: Trading PlatformNo. of sharesAverage price (DKK)Total value (DKK)Accumulat...
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Martin Huseby Karlsen
Nel (Sell, TP: NOK1.50) - In hope they trust
Q1 revenue missed consensus by 29% and our estimate by 38%. Despite industry-wide challenges, Nel remains optimistic on new orders – although it last booked a sizeable order in late-2022. On the positive side, cash of NOK2.1bn provides investors with decent time optionality awaiting a better market (we do not expect a liquidity injection), added to which it has a good technology track record and know-how. We reiterate our SELL and NOK1.5 target price.
Genmab to Submit Supplemental Biologics License Application (sBLA) to ...
Genmab to Submit Supplemental Biologics License Application (sBLA) to U.S. Food and Drug Administration for Epcoritamab Plus Rituximab and Lenalidomide (R2) in Patients with Relapsed/Refractory Follicular Lymphoma (FL) Company Announcement Decision to submit based on a positive overall response rate (ORR) (p-value < 0.0001), one of the dual primary endpoints in the Phase 3 EPCORE® FL-1 trialFull results from the trial will be submitted for presentation at an upcoming medical conference in 2025 COPENHAGEN, Denmark; May 2, 2024 – (Nasdaq: GMAB) announced today its intention to submit in ...
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Njål Kleiven
- Oliver Dunvold
- Stian Wibstad
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Nel: poor Q1 results
This morning, Nel has reported Q1 2025 revenue at NOK155m (-63% QoQ, -44% YoY), 37% below cons. at NOK245m. The quarter was impacted by temporary production halts, with a significant slowdown in the alkaline division negatively impacting (-69% YoY) the scale and the revenue mix. EBITDA loss stood a
- ABGSC Renewable Energy Research
- Åsne Holsen
- Daniel Vårdal Haugland
Millicom (Tigo) notice of first quarter 2025 results and video confere...
Millicom (Tigo) notice of first quarter 2025 results and video conference Millicom (Tigo) notice of first quarter 2025 results and video conference Luxembourg, April 29, 2025 – Millicom expects to announce its first quarter 2025 results on May 8, 2025, via a press release. Millicom is planning to host a video conference for the global financial community on May 8, 2025, at 14:00 pm (Luxembourg) / 13:00 (London) / 08:00 (Miami). Registration for the interactive event is required at the following . Participants may also join the conference in listen-only mode by dialing any of the followi...
- Stefan Gauffin
Millicom (Buy, TP: USD39.00) - Solid underlying performance
We are a bit below consensus on service revenue, but believe this fully relates to Bolivia, where Millicom is set to report based on an assumed fair FX rate. Adjusting for this, we are in line with consensus on service revenue and EBITDA. We reiterate our BUY and have converted to a USD-based target price of USD39 (SEK375). The results are due at 12:00 CET on 8 May.
Transactions in Connection with Share Buy-back Program
Transactions in Connection with Share Buy-back Program Company Announcement COPENHAGEN, Denmark; April 28, 2025 – Genmab A/S (Nasdaq: GMAB). On March 25, 2025, Genmab announced the initiation of a share buy-back program to repurchase up to 2.2 million shares to reduce capital and to honor our commitments under the Restricted Stock Unit program. The share buy-back program is expected to be completed no later than July 10, 2025. The following transactions were executed under the program from April 21 to April 25, 2025: Trading PlatformNo. of sharesAverage price (DKK)Total value (DKK)Accumu...
- Alexander Aukner
- Martin Huseby Karlsen
Nel (Sell, TP: NOK1.50) - No signs of life on the horizon
With no meaningful orders secured since late 2022, weak backlog coverage for 2025e, production facility shut-ins, an uncertain market outlook, and further uncertainties related to its US expansion plans, challenging times are set to remain. While we are in line with consensus ahead of the Q1 report, our 2025e revenues and EBTIDA are 30% and 52% below consensus, respectively, with weak backlog coverage even on our estimates. Focus ahead should be on maintaining the liquidity runway and any equity...
- Alexander Aukner
LSG LEROY SEAFOOD GROUP ASA
AUSS AUSTEVOLL SEAFOOD ASA
AKVA AKVA GROUP ASA
SALM SALMAR ASA
GSF GRIEG SEAFOOD ASA
MOWI MOWI ASA
BAKKA BAKKAFROST P/F
SALMOCAM SALMONES CAMANCHACA SA
IFISH ICE FISH FARM AS
ASA ATLANTIC SAPPHIRE
SALME SALMON EVOLUTION HOLDING
KING THE KINGFISH COMPANY NV
AKBM AKER BIOMARINE
ISLAX ARNARLAX AS
AFISH ARCTIC FISH HOLDING AS
MAS MÅSØVAL
- Jørgen Lian
Wallenius Wilhelmsen ASA (Buy, TP: NOK91.00) - Solid value in troublin...
Challenging times for the car carriers is reflected in depressed equity valuations. We believe a considerable backlog to derisk the investment over time, and potential upside on any respite in peaking trade tensions, make for an attractive investment case. We reiterate our BUY, but have cut our target price to NOK91 (115).
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