reports
- ABGSC Shipping & Transport Research
- Henrik Bartnes
- Petter Nystrøm
Novonesis delivered a strong Q1 with 11% organic growth and confirms f...
Novonesis delivered a strong Q1 with 11% organic growth and confirms full-year outlook COPENHAGEN, Denmark – May 8, 2025. The global leader in biosolutions, Novonesis, had a strong start to its financial year with organic sales growth of 11% and an adjusted EBITDA margin of 38.3%. The company maintains the full-year outlook. The sales growth was broad-based across both regions and industries. Emerging markets grew by 15% organically, and developed markets increased by 9%. Across all sales areas, the company delivered double-digit growth in the quarter. Ester Baiget, President & CEO, say...
Interim report Q1 2025
Interim report Q1 2025 Strong start to the year and confirmed full-year outlook Ester Baiget, President & CEO: “We delivered strong sales growth and earnings in the first quarter, with all four sales areas showing double-digit growth. Growth was driven by strong innovation especially in emerging markets, and with a continued broad pull for our solutions in developed markets. Synergies are materializing as expected and we are confirming the full-year outlook. We continue to see solid demand across the business, and our regional presence and resilient global setup enable us to respond with...
- Ole Martin Westgaard
Norwegian Air Shuttle (Buy, TP: NOK17.00) - April traffic statistics
We consider this a slightly positive report for Norwegian Air Shuttle, including figures more or less in line with expectations, with a marginally lower yield offset by a higher load, and positive outlook comments with regard to summer bookings. We expect only minor changes to consensus 2025e adj. EBITDA, and believe a neutral to slightly positive share price reaction is warranted.
- Ole Martin Westgaard
Norwegian Air Shuttle (Buy, TP: NOK17.00) - April traffic statistics p...
April’s traffic statistics are due at 08:00 CET on 7 May. We are positive ahead of the report, expecting a strong yield recovery supported by Easter timing effects and easing capacity growth. We reiterate our BUY and have raised our target price to NOK17 (15) on positive estimate changes on our revised fuel and USDNOK assumptions.
- Ole Martin Westgaard
Norwegian Air Shuttle (Buy, TP: NOK15.00) - March traffic statistics
We consider this a slightly soft report for Norwegian Air Shuttle, with a slightly weaker load and yield for Norwegian Air only partly offset by strong performance from Widerøe. We expect consensus 2025e adj. EBITDA to come down by c1% on the back of the report and believe a neutral to slightly negative share price reaction is warranted.
- ABGSC Shipping & Transport Research
- Ali Shemmari
- Petter Nystrøm
Resolutions from the Annual General Meeting 2025
Resolutions from the Annual General Meeting 2025 Today, the Annual General Meeting of Novonesis (Novozymes A/S) was conducted. The following resolutions were made: Approval of the audited Annual Report for 2024Approval of distribution of profit with payment of an ordinary dividend of DKK 4.20 (corresponding to approximately EUR 0.56) per A and B share. In addition to this year-end dividend, an interim dividend of DKK 2.00 (EUR ~0.27) was disbursed on September 3, 2024.Approval of the Remuneration Report for 2024 (advisory vote)Approval of the remuneration of members of the Board of Direc...
- ABGSC Shipping & Transport Research
- Ali Shemmari
- Petter Nystrøm
- Ole Martin Westgaard
Norwegian Air Shuttle (Buy, TP: NOK15.00) - Tailwinds ahead
We expect Norwegian Air Shuttle to report a weak Q1, hit by high capacity growth and Easter timing effects. However, we find the outlook for the summer season increasingly encouraging, with healthy demand, low supply growth and a positive cost impact from a weaker USD. We reiterate our BUY and have raised our target price to NOK15 (13) on positive revisions.
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