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Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Demand has fallen off a cliff

Another weak quarter from Ekornes Order backlog down ~39% y-o-y Credit risk is still relatively low

10/27/22 October 27, 2022 1 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Slowing down

Sales and EBITDA well below our estimates Demand is easing significantly But credit risk is still relatively low

08/30/22 August 30, 2022 1 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Truly an impressive quarter

Crushed our estimates Still evaluating refinancing Money good – should trade close to first call

04/27/22 April 27, 2022 1 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Refinancing coming closer

Q4 hurt by cost inflation, but should be passed through Still evaluating refinancing, callable from 2 April Should trade close to first call (~1 bond point higher)

02/28/22 February 28, 2022 1 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Something structural about to happen?

Another strong quarter Owner’s business case not materializing Our advice: refinance and/or cash in on Ekornes

11/01/21 November 1, 2021 5 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Rapid deleveraging continued in Q2

Continued strong performance But costs were higher than we expected A comfortable and robust credit

08/26/21 August 26, 2021 5 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Putting estimates to shame

Strong rebound in June resulted in a strong beat Proved high operational flexibility in Q2 The credit looks much better than yesterday

08/27/20 August 27, 2020 6 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - FX helped in Q1, reality kicks in during Q2

Underlying EBITDA 18% above ABGSCe Main boost was FX, but also a general strong momentum May breach covenant in Q2

04/29/20 April 29, 2020 7 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Decent Q4, but uncertainties on the horizon

Strong sales, but EBITDA “only” in line Net leverage at 4.8x Concerns make us somewhat muted on the credit

02/27/20 February 27, 2020 6 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Q3 a disappointment, in our view

EBITDA 18% below our estimate Weak development in Stressless Decent reward, but is it worth the risk?

10/29/19 October 29, 2019 6 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Strong China, weak West

H1 was roughly in line, but weaker in Q2 than Q1 Most markets with weak trends, but not China Decent reward, but is it worth the risk?

08/28/19 August 28, 2019 6 EN
Glenn Kringhaug
  • Glenn Kringhaug
PREMIUM
EKO EKORNES ASA

Ekornes - Initiating coverage - To recline or not to recline

A global high-end furniture producer Solid brands, and diversified across geographies High LTV and structural subordination

08/07/19 August 7, 2019 53 EN
Free Trial
EKO EKORNES ASA

EKORNES ASA sees an upgrade to Positive due to a better fundamental st...

The general evaluation of EKORNES ASA (NO), a company active in the Furnishings industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date September 4, 2018, the closing price was NOK 138.40 and its po...

09/05/18 September 5, 2018 1 EN
EUR 18.48
EKO EKORNES ASA

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...

12/16/16 December 16, 2016 2 EN
Free Trial
EKO EKORNES ASA

Company Snapshot - Ekornes Asa

Two Directors at Ekornes Asa bought 4,500 shares at between 93.320NOK and 93.500NOK. The significance rating of the trade was 59/100. 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...

07/22/16 July 22, 2016 1 EN
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