reports
- 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
Lerøy Seafood Group ASA: Notice of General Shareholders' Meeting
Lerøy Seafood Group ASA: Notice of General Shareholders' Meeting The General Shareholders’ Meeting of Lerøy Seafood Group ASA will be held on 27 May 2025 at 10.00 a.m CET as an online meeting. The meeting notice is enclosed. All underlying documentation is available at This information is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act. Attachment
Lerøy Seafood Group ASA: Innkalling til ordinær generalforsamling
Lerøy Seafood Group ASA: Innkalling til ordinær generalforsamling Ordinær generalforsamling i Lerøy Seafood Group ASA avholdes 27. mai 2025 klokken 10.00 som online møte. Innkallingen med dagsorden er vedlagt. Vedlegg til innkallingen er tilgjengelig på Lerøy sin hjemmeside Disse opplysningene er informasjonspliktige etter verdipapirhandelloven § 5-12. Vedlegg
- Martin Huseby Karlsen
Noble (Buy, TP: USD30.00) - A more balanced portfolio
Noble secured key contract wins for four deepwater rigs with Shell (US Gulf) and Total (Suriname) with a meaningful bonus component. Having incorporated these contracts and expected idle time and contract preparation, our 2026–2027e are largely unchanged, despite the contracts being considered solid. Also, the jobs provide it with better backlog visibility and a more diversified backlog with respect to clients and pricing (fixed versus market-linked), which we believe investors will like. We rei...
Lerøy Seafood Group ASA: Key information relating to the cash dividend...
Lerøy Seafood Group ASA: Key information relating to the cash dividend to be paid by Lerøy Seafood Group ASA Dividend amount: 2.5 per shareDeclared currency: NOKLast day including right: 27 May 2025Ex-date: 28 May 2025Record date: 30 May 2025Payment date: 5 June 2025Date of approval: 27 May 2025 This information is published in accordance with the requirements of the Oslo Børs Rule Book II section 4.2.5.2 (1).
Lerøy Seafood Group ASA: Nøkkelinformasjon ved kontantutbytte for Lerø...
Lerøy Seafood Group ASA: Nøkkelinformasjon ved kontantutbytte for Lerøy Seafood Group ASA Utbyttebeløp: 2,5 kroner per aksje Annonsert valuta: NOK Siste dag inklusive: 27. mai 2025Ex-dato: 28. mai 2025Record date (eierregisterdato): 30. mai 2025Betalingsdato: 5. juni 2025Vedtaksdato: 27. mai 2025 Denne opplysningen er informasjonspliktig etter Oslo Børs Regelbok II pkt. 4.2.5.2 (1).
Lerøy Seafood Group ASA: Integrated annual report for 2024
Lerøy Seafood Group ASA: Integrated annual report for 2024 Please find attached Lerøy Seafood Group ASA's annual report for 2024 as approved by the Board of Directors. The report is also provided in a machine-readable format according to ESEF (European Single Electronic Format) requirements. As part of the group’s integrated reporting, the report includes an overview of priorities, measurements, and targets related to environment, social and governance (“ESG”) matters. It also incorporates a double materiality assessment, in line with the Corporate Sustainability Reporting Directive (CSR...
Lerøy Seafood Group ASA: Integrert årsrapport for 2024
Lerøy Seafood Group ASA: Integrert årsrapport for 2024 Vedlagt følger styregodkjent årsrapport for Lerøy Seafood Group ASA for 2024. Som del av konsernets integrerte rapportering inneholder årsrapporten en oversikt over fokusområder, måleindikatorer og mål innen miljø, samfunnsmessig og finansiell bærekraft (ESG) samt dobbelt vesentlighetsanalyse iht. EUs direktiv for bærekraft. Rapporten er også vedlagt i et maskinlesbart format i tråd med ESEF (European Single Electronic Format). Styret har foreslått et utbytte til utbetaling i 2025 på NOK 2,50 per aksje. Det vises til egen b...
- Martin Huseby Karlsen
Another round of Aramco suspensions expected
Market sources suggest Saudi Aramco will further reduce its rig count in the coming months through early contract terminations and potentially more suspensions, which would mark the ‘fourth round’ of rig reductions. This follows last month’s request for dayrate discussions (historically, such requests have preceded it suspending rigs). We believe this round could be extensive, affecting c10 jackups out of its current rig count of c57 rigs. At the peak, Aramco had 92 jackups (22% of global demand...
- Martin Huseby Karlsen
Noble (Buy, TP: USD30.00) - Sailing ahead, but wind is shifting
Despite general uncertainty in the energy markets and dayrates under pressure, our Q1e adj. EBITDA is 7% above consensus and we expect the 2025 guidance to be reiterated. We find Noble well placed to add deepwater backlog, leading to a more balanced portfolio of priced and market-linked contracts. We reiterate our BUY but have cut our target price to USD30 (35), supported by NAV, while we find it fully valued on cash flow metrics.
- Alexander Aukner
- 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
Muted 2025 growth expectations
Following Q1 earnings calls by some of the oil service companies, 2025 outlooks appear more challenging than previously. Baker Hughes expects international upstream spending to decline by mid- to high-single digits, while Halliburton sees its international revenues flat to slightly down. Furthermore, Weatherford expects 2025 international revenue to decline by low double- to mid-double digits. Precision Drilling flagged additional rig suspensions by Saudi Aramco, and SLB highlighted a slow start...
SDRL SEADRILL LTD
ARCHERO ARCHER
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
DO DIAMOND OFFSHORE DRILLING INC.
RIGN TRANSOCEAN LTD.
BWO BW OFFSHORE LIMITED
BORR BORR DRILLING
SHLF SHELF DRILLING LTD.
VAL VALARIS LTD
NE NOBLE CORP NEW
OTL ODFJELL TECHNOLOGY LTD
SDNS SHELF DRILLING NORTH SEA
DDRIL DOLPHIN DRILLING
DOFG DOF GROUP ASA
VTURA VENTURA OFFSHORE
PLSV PARATUS ENERGY SERVICES LTD.
- Helene Kvilhaug Brøndbo
Cloudberry Minor model adjustments
We have updated our Q1 proportionate EBITDA forecast to NOK76m, based on 196GWh quarterly power production. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our NOK13.5 target price. The Q1 report is due at 07:00 CET on 13 May.
- Martin Huseby Karlsen
ENI capex cut but maintains shareholder returns
Driven by macro headwinds and uncertainty around trade tariffs, ENI was the first large oil company to introduce capex cuts for 2025, contributing to a more challenging business environment for oil services. Over the past five years, we estimate ENI to have been the oil major with strongest offshore spending growth, and it has been considered active and opportunistic while others have been more conservative. Hence, we see its reduction as a soft datapoint for oil services. ENI has optimised its ...
SDRL SEADRILL LTD
ARCHERO ARCHER
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
DO DIAMOND OFFSHORE DRILLING INC.
RIGN TRANSOCEAN LTD.
BWO BW OFFSHORE LIMITED
BORR BORR DRILLING
SHLF SHELF DRILLING LTD.
VAL VALARIS LTD
NE NOBLE CORP NEW
OTL ODFJELL TECHNOLOGY LTD
SDNS SHELF DRILLING NORTH SEA
DDRIL DOLPHIN DRILLING
DOFG DOF GROUP ASA
VTURA VENTURA OFFSHORE
PLSV PARATUS ENERGY SERVICES LTD.
- Alexander Aukner
SalMar (Buy, TP: NOK650.00) - Minor model adjustments
We have updated our estimates for the volumes in the recent Q1 trading update and a back-end-loaded harvest profile in the quarter, with a higher share of downgrades. We expect operating EBIT of NOK997m for the quarter, c16% below consensus of NOK1,188m. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our NOK650 target price. The full Q1 report is due at 06:30 CET on 20 May.
- ABGSC Seafood Research
- Martin Kaland
- Simon Brun
- Alexander Aukner
- Alexander Aukner
Time to revisit
The unfolding trade war has led us to cut our global 2025–2027e demand and trim our spot price estimates. The negative price effect is partly countered by reduced mortality boosting volumes and lowering costs, leading to net EPS cuts of 11–2%. Given the sector’s solid track record in adapting to past crises and recent share-price declines, we see a significantly improved risk/reward and have a positive stance on the sector. We have upgraded Mowi, Bakkafrost, and Grieg Seafood to BUY (HOLD).
SalMar - Merger with Wilsgård AS and resolution to increase the share ...
SalMar - Merger with Wilsgård AS and resolution to increase the share capital Frøya, 22 April 2025 SalMar ASA (“SalMar”) refers to the stock exchange notice published on 18 February 2025 regarding SalMar and Wilsgård Sea Service AS’s intention to develop the ownership in Wilsgård AS (“Wilsgård”), including through a consolidation with the SalMar group. The boards of Wilsgård, SalMar Farming AS, a wholly-owned subsidiary of SalMar, (“SalMar Farming”) and SalMar have today approved a merger plan for a triangular merger pursuant to Chapter 13 of the Norwegian Public Limited Liability Compani...
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