reports
- ABGSC Chemicals Research
- Bengt Jonassen
- Martin Melbye
- ABGSC Chemicals Research
- Bengt Jonassen
- Martin Melbye
- ABGSC Construct. & Real Estate Research
- Åsne Holsen
- Bengt Jonassen
- Simen Mortensen
Veidekke (Hold, TP: NOK150.00) - Q1 was a supportive non-event
Q1 EBIT was NOK-43m, slightly below our forecast, with low seasonal profits due to winter effects in the asphalt operations. This is a seasonally insignificant quarter for the company due to the winter season, and, for context, we expect 2025 EBIT of NOK1.7bn. Order intake and backlog were the Q1 strong points. With the results and commentary supportive of our earnings forecasts, we have made minor estimate changes on the group level and reiterate our HOLD, but have cut our target price to NOK15...
Veidekke ASA: 1 director
A director at Veidekke ASA bought 2,200 shares at 147.000NOK and the significance rating of the trade was 68/100. 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 ...
- ABGSC Construct. & Real Estate Research
- Åsne Holsen
- Bengt Jonassen
Notice of Yara Annual General Meeting 2025
Notice of Yara Annual General Meeting 2025 Yara International ASA will hold its Annual General Meeting on Wednesday, 28 May 2025 at 10:00 CEST.Notice of the Annual General Meeting together with all relevant documents is available at The Annual General Meeting will be held as a digital meeting with electronic voting via Lumi platform. It is also possible to cast votes or give proxy authorizations in advance. No pre-registration is required for shareholders who wish to participate, apart from nominee-registered shareholders. For detailed information about participation and voting, please s...
Innkalling til Yara generalforsamling 2025
Innkalling til Yara generalforsamling 2025 Yara International ASA vil avholde sin ordinære generalforsamling onsdag, 28. mai 2025 kl. 10.00. Innkalling til generalforsamling og alle relevante dokumenter er publisert på Generalforsamlingen avholdes som et digitalt møte hvor aksjonærer kan stemme elektronisk via Lumi-plattformen. Det er også mulig å forhåndsstemme eller å gi fullmakt. Det gjelder ingen påmeldingsfrist for aksjonærer for å delta på generalforsamlingen, med unntak av aksjonærer som eier forvalterregistrerte aksjer. For mer informasjon om deltakelse og stemmegivning se Innkall...
- ABGSC Chemicals Research
- Bengt Jonassen
- Martin Melbye
- Niclas Gehin
Yara (Buy, TP: NOK425.00) - Volumes/costs aid Q1 EBITDA beat
Q1 EBITDA beat our estimate by 19% and consensus by 22%, with help from solid volumes, lower energy costs and a higher share of premium products sold, FX tailwinds and further cost reductions. Its FID on the blue ammonia projects is still set for H1 2026 and it continues to highlight the strategic rationale of the investment. Our estimates are largely unchanged (no change to 2026–2027e EPS), with higher earnings following the report broadly offset by slightly lower nitrate prices in recent weeks...
- ABGSC Chemicals Research
- Bengt Jonassen
- Martin Melbye
Yara reports strong deliveries and margins
Yara reports strong deliveries and margins Yara reports first quarter 2025 EBITDA excluding special items1 of USD 638 million compared with USD 435 million in first quarter 2024. Net income was USD 295 million compared with USD 16 million a year earlier. First quarter 2025 highlights: EBITDA excl. special items1 up 47%, with strong deliveries and marginsCost reductions on track and continuous improvements through portfolio optimizationSupportive nitrogen upgrading margins in the medium termYara’s scale and global optimization provide flexibility in volatile times “We are pleased with rep...
Yara rapporterer sterke leveranser og marginer
Yara rapporterer sterke leveranser og marginer EBITDA eksklusive spesielle poster1 for første kvartal 2025 var 638 millioner USD sammenlignet med 435 millioner USD i første kvartal 2024. Resultat etter skatt var 295 millioner USD sammenlignet med 16 millioner USD året før. Hovedpunkter fra kvartalet: EBITDA eksklusive spesielle poster1 økte med 47% drevet av sterke leveranser og marginerKostnadsreduksjoner i rute og kontinuerlige forbedringer gjennom porteføljeoptimaliseringGode markedsutsikter for nitrogen på mellomlang siktYaras skala og globale forretningsmodell gir fleksibilitet – V...
- Tomi Railo
- ABGSC Construct. & Real Estate Research
- Åsne Holsen
- Bengt Jonassen
Reminder: Program for the publication of Yara International ASA first ...
Reminder: Program for the publication of Yara International ASA first quarter results 2025 Yara International ASA first quarter 2025 results will be published on Friday, 25 April 2025 at 08:00 CEST. You can follow the first-quarter results presentation online at 12:00 CEST. The presentation will be held in English. The report, presentation and webcast will be available at the above mentioned times at There will also be a conference call at 13:00 CEST the same day with an opportunity to ask questions to Yara’s management. Please use the link to register for this session: Registered c...
- ABGSC Chemicals Research
- Bengt Jonassen
- Martin Melbye
- Simen Mortensen
Mixed upside potential, despite market recovery expectations
Pent-up demand and falling interest rates remain the backbone for newbuild recovery expectations. However, as the recovery has not yet started, property developers screen as the most attractive long-term, but visibility remains mixed. Diversified construction companies are more attractive on near-term P/Es, although many seem to be fully valued on solid share-price performance over the past six months. We maintain a neutral sector view; NCC and Skanska are our top picks.
- Niclas Gehin
Yara (Buy, TP: NOK425.00) - A globalist in a protectionist world
We expect Q1 EBITDA of NOK537m (results due at 08:00 CET on 25 April). We believe the current tariff turbulence increases uncertainty relating to Yara’s planned US blue ammonia investments, and thus the likelihood of the project not seeing daylight. We have raised our 2026–2027e EPS by just 3% on higher fertiliser and lower natural gas prices. At a 2026e P/E of 8x, we reiterate our BUY and NOK425 target price.
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