reports
- ABGSC Healthcare Research
- Sten Gustafsson
- Maria Vara
BONESUPPORT: debuts 2024 with strong financial results
Q1 2024 sales climbed by 54% (54% at CER) YoY and 7% QoQ, totalling SEK 184.4m. The US market, owing 77% of overall sales, was boosted by a 65% growth (65% at CER), with CERAMENT G being the major driver bringing SEK 92m sales (SEK 34.8m). EU showed a 27% YoY growth in sales, delivered by both prod
- ABGSC Healthcare Research
- Sten Gustafsson
- Simen Mortensen
Renovation rules now a reality
The Energy Performance of Buildings Directive (EPBD) was approved on 12 April, requiring the modernisation of existing real estate in the EU, and will soon enter the Official Journal of the EU. Member states will have two years to incorporate the provisions into their national legislation. While Q1 is Nordic construction’s low season due to winter effects, we see some downside risk to Q1e consensus and longer-term to 2024–2026e EBIT on lower development gains. We recommend a stock-picking approa...
Notification of major shareholding
Notification of major shareholding Company announcementApril 4, 2024Announcement No. 8/2024 With reference to Section 30 of the Danish Security Trading Act, Nilfisk Holding A/S has been informedby UBS Group AG of the following increases and decreases of its total holding of shares and financialinstruments representing shares or rights over shares in Nilfisk Holding A/S over and under the 5%threshold: As per December 7, 2023, UBS Group AG’s holding of shares and financial instrumentsrepresenting shares or rights over shares increased to 5.04% of the share capital of NilfiskHolding A/SAs ...
- Simen Mortensen
Selvaag Bolig (Sell, TP: NOK25.00) - Inventory spike set to delay prof...
In its Q1 KPI update, sold homes were marginally above our forecast, helped by sales to its main owner. However, of the 236 completed units, only 179 were delivered to clients. Unsold inventory climbed to an all-time high of 126 units at end-Q1 (ATH), and 56 completed sold homes are pending delivery. Due to the inventory build-up, we have cut our 2024e EPS by c29%, but have raised 2025e EPS by c42.5%. We reiterate our SELL and NOK25 target price.
Annual General Meeting - Summary
Annual General Meeting - Summary Company announcementMarch 21, 2024Announcement No. 7/2024 The Annual General Meeting of Nilfisk Holding A/S was held today, Thursday March 21, 2024. Resolutions adopted at the Annual General Meeting Approval of the audited Annual Report 2023, including the Board of Director’s proposal that this year’s profits are transferred to retained comprehensive income. Consequently, no dividend will be distributed.Discharge of Management and the Board of Directors from their liabilities.Approval of the Remuneration Repor...
- Maria Vara
BONESUPPORT: CERAMENT doubles US TAM, on track to reach >SEK 2bn sales...
BONESUPPORT share price climbed by ~8% yesterday as of the FDA approval of CERAMENT G in open fracture/trauma following the 510(k) submission in Q4 2023. Although our estimates were aligned with the positive FDA outcome, we find it worth highlighting the impressive growth path behind and refreshing
Nilfisk Holding AS: 2 directors
Two Directors at Nilfisk Holding AS bought/maiden bought 5,516 shares at between 126.180DKK and 126.578DKK. The significance rating of the trade was 70/100. 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...
Notification of executives and related parties transactions with Nilfi...
Notification of executives and related parties transactions with Nilfisk shares Company announcementMarch 13, 2024Announcement No. 6/2024 In accordance with the EU Market Abuse Regulation Article 19 no. 596/2014, Nilfisk has received the following notification from executives and/or their related parties’ regarding transactions in Nilfisk shares. This notification is an ‘Initial notification’ regarding the purchase of 2,750 shares in Nilfisk by Thomas Dragø Nielsen, Executive Vice President, APAC. The shares have been purchased on March 11, 2024 at a total price of 348,090.60 DKK For ...
Notification of executives and related parties transactions with Nilfi...
Notification of executives and related parties transactions with Nilfisk shares Company announcementMarch 13, 2024Announcement No. 5/2024 In accordance with the EU Market Abuse Regulation Article 19 no. 596/2014, Nilfisk has received the following notification from executives and/or their related parties’ regarding transactions in Nilfisk shares. This notification is an ‘Initial notification’ regarding the purchase of 2,766 shares in Nilfisk by Péter Szabó, Executive Vice President, Operations. The shares have been purchased on March 8, 2024 at a total price of 349,026....
- Maria Vara
BONESUPPORT: CERAMENT wins full FDA approval in Spine Fusion procedure...
Yesterday after the market close, BONESUPPORT announced that CERAMENT BONE VOID FILLER, the company's core synthetic bone graft technology, has been granted FDA approval on the Spine Interbody Fusion procedure, following the 510 (k) submission in Q1 2024. We are certainly surprised about the quick
Notice to convene Annual General Meeting of Nilfisk Holding A/S
Notice to convene Annual General Meeting of Nilfisk Holding A/S Company announcement February 20, 2024Announcement No. 4/2024 The Annual General Meeting of Nilfisk Holding A/S will be held on Thursday March 21, 2024, at 14:00 CET at Comwell Copenhagen Portside, Alexandriagade 1, 2150 Copenhagen.Attached please find:▪ Invitation to Annual General Meeting▪ Notice with agenda▪ Candidates for the Board of Directors▪ Proxy and Postal Vote Nilfisk Holding A/S’ 2023 Annual Report and Remuneration Report can be read or printed at investor.nilfisk.com. A separate invitation along wi...
Notification of executives and related parties transactions with Nilfi...
Notification of executives and related parties transactions with Nilfisk shares Company announcement February 19, 2024 Announcement No. 3/2024 In accordance with the EU Market Abuse Regulation Article 19 no. 596/2014, Nilfisk has received the following notification from executives and/or their related parties’ regarding transactions in Nilfisk shares. This notification is an ‘Initial notification’ regarding the purchase of 745 shares in Nilfisk by Ole Kristian Jødahl, Member of the Board of Directors. The shares have been p...
Notification of executives and related parties transactions with Nilfi...
Notification of executives and related parties transactions with Nilfisk shares Company announcement February 16, 2024 Announcement No. 2/2024 In accordance with the EU Market Abuse Regulation Article 19 no. 596/2014, Nilfisk has received the following notification from executives and/or their related parties’ regarding transactions in Nilfisk shares. This notification is an ‘Initial notification’ regarding the purchase of 6,000 shares in Nilfisk by René Svendsen-Tune, President & CEO and member of the Board of Directors. The shares have been purchased on February 15,...
- Maria Vara
BONESUPPORT: 80% YoY growth paves the way for entering the spine marke...
Q4 2023 sales climbed by 67% (60% at CER) YoY and 9% QoQ, totalling SEK 172.7m; while FY 2023 sales were boosted by 80% to SEK 591.1m, in line with our estimate of SEK 597m. CERAMENT G adoption in the US was the major driver, representing 44% of overall Q4 sales; whilst positive market activity lev
Nilfisk reports Q4 and FY 2023 results: In line with outlook despite a...
Nilfisk reports Q4 and FY 2023 results: In line with outlook despite a challenging climate Nilfisk, a leading global provider of professional cleaning products and services, reported its 2023 results today with solid progress on most financial business metrics including significant gross margin expansion, very strong free cash flow, a visible reduction of NIBD, and consequently also lower gearing. Revenue was 1,033.6 mEUR, down from 1,069.5 mEUR in 2022. For Q4 2023, revenue was 252.9 mEUR, down from 270.3 mEUR in Q4 2022. Organic growth for 2023 was -0.3%. The EBITDA margin before sp...
- Simen Mortensen
Selvaag Bolig (Sell, TP: NOK25.00) - Q4 miss
Q4 earnings (IFRS and POC) missed our forecasts, and the proposed H2 2023 DPS of NOK1 was below our expectation. While we expect sales to gradually recover in 2024–2026 on lower mortgage interest rates, we do not see the company returning to historical profitability levels in our forecast period due to lagging profit recognition (IFRS – IFRIC15) and accumulated capitalised interest rate expenses raising land bank costs. We reiterate our SELL and NOK25 target price.
- Maria Vara
- Oscar Haffen Lamm
Coverage update
Given team and strategy changes, Oscar Haffen Lamm is now assuming coverage of Medincell, Camurus, Valneva, Aelis Pharma, Abivax, Calliditas, Egetis Therapeutics, Basilea, Geneuro, Achilles, Valerio, Innate Pharma, Morphosys, Inventiva Pharma, Vicore, DBV Technologies, and Genfit.Maria Vara is now
BSLN BASILEA PHARMACEUTICA AG
IPH INNATE PHARMA SA CLASS A
VLS VALNEVA SE
ALMDT MEDIAN TECHNOLOGIES
EGTX EGETIS THERAPEUTICS AB
7CA CAMURUS AB
VICO VICORE PHARMA HOLDING AB
5142 ACHILLES CORP.
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
XVIVO XVIVO PERFUSION AB
GNRO GENEURO SA
BONEX BONESUPPORT HOLDING AB
MOR MORPHOSYS AG
MED MEDARTIS AG
MEDCL MEDINCELL SA
CALTX CALLIDITAS THERAPEUTICS AB
IVA INVENTIVA ADS
CLNK B CELLINK AB
GNFT GENFIT
AELIS AELIS FARMA SA
ONWD ONWARD OPPORTUNITIES LIMITED
ALONX ONXEO
ABVX ABIVAX
- Maria Vara
Unleashing the full potential of ortho-biologics! Initiating coverage ...
We initiate coverage of BONESUPPORT, a Swedish company developing and commercialising bone graft solutions that aim to overcome major hurdles in orthopaedic trauma and infection management. CERAMENT, a one-stage-procedure injectable synthetic bone graft, is the core technology platform that has bee
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