reports
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
Vestas Wind Systems AS: 3 directors
Three Directors at Vestas Wind Systems AS sold/bought 46,000 shares at between 92.030DKK and 92.780DKK. The significance rating of the trade was 73/100. 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 dir...
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- ABGSC Telecom Operators Research
- Herman Caspersen
- Oscar Rönnkvist
- Øystein Elton Lodgaard
Telenor ASA: 1 director
A director at Telenor ASA bought 10,000 shares at 157.200NOK and the significance rating of the trade was 51/100. 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 ...
- Chris Hoare
Telenor (Buy, TP: NOK 183, +17%) Q1 25: Strong results support contin...
Telenor has reported a good set of Q1 numbers, with SR c0.5% ahead of consensus and EBITDA in line; 2025 guidance was re-iterated, which is now in line with consensus expectations, but we think this could be raised later in the year if the further OpEx efficiencies management are expecting are realised.
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ABGSC Telecom Operators Research
- Herman Caspersen
- Oscar Rönnkvist
- Øystein Elton Lodgaard
Steady course in turbulent times
Steady course in turbulent times Fornebu, Norway - May 6, 2025 - Telenor Group increased its revenues during a quarter of global economic instability due to fast-changing tariffs and geopolitical turmoil. This unpredictability has also created new business opportunities in the Nordics. First quarter highlights: Service revenues of NOK 16.1 billion in the quarterAdjusted EBITDA of NOK 8.6 billion in the quarterFree cash flow before M&A of NOK 3.0 billion in the quarter During the first quarter, Telenor delivered year-over-year organic growth in service revenues of 2.1 percent, and org...
Stø kurs i urolige tider
Stø kurs i urolige tider (Fornebu, 06. mai 2025) Telenor økte inntektene i et kvartal med global økonomisk ustabilitet grunnet skiftende tollpolitikk og geopolitisk uro. Denne uforutsigbarheten har også skapt nye forretningsmuligheter i Norden. Høydepunkter i første kvartal: Tjenesteinntekter på 16,1 milliarder kroner i kvartaletJustert EBITDA på 8,6 milliarder kroner i kvartalet Fri kontantstrøm før M&A på totalt 3,0 milliarder kroner i kvartalet I første kvartal leverte Telenor en organisk vekst i tjenesteinntekter på 2,1 prosent sammenlignet med første kvartal i fjor, og organisk EB...
- 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
- Niclas Gehin
Norsk Hydro (Sell, TP: NOK55.00) - Q1 shipments delayed to Q2
Norsk Hydro’s Q1 results fell somewhat short of market expectations (EBITDA 4% below consensus) and it cut its Extrusions guidance. A large share of the miss appears to reflect late shipments in the bauxite and alumina (B&A) segment following heavy rainfall, which should mean higher volumes in Q2. We have made only minor changes (-1–0%) to our 2026–2027e EPS. We continue to see downside risk to aluminium prices, and reiterate our SELL and NOK55 target price.
- ABGSC Metals & Mining Research
- Bengt Jonassen
- Martin Melbye
- ABGSC Metals & Mining Research
- Bengt Jonassen
- Martin Melbye
- Alexander Aukner
- ABGSC Metals & Mining Research
- Bengt Jonassen
- Martin Melbye
- 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).
- ABGSC Shipping & Transport Research
- Martin Mauseth
- Oliver Dunvold
- Petter Haugen
- 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...
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