reports
- 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
Coloplast A/S - Invitation to Coloplast's Meet the Management event on...
Coloplast A/S - Invitation to Coloplast's Meet the Management event on 6 June 2024 (gentle reminder) The event will take place on Thursday, 6 June 2024 at Coloplast’s HeadquartersHoltedam 3, 3050 Humlebaek, Denmarkfrom 11.30 - 18.00 CEST (Central European Summer Time) Coloplast invites institutional investors, equity analysts and media to attend our 2024 Meet the Management event.The event will be held in person at our headquarters in Humlebaek, Denmark, with the option to join us virtually for the plenary session.The purpose of the event is to provide participants with the opportuni...
Coloplast udvider Luja™-portefølje med nyt kateter til kvinder
Coloplast udvider Luja™-portefølje med nyt kateter til kvinder Engangskateteret gør det muligt for kvinder at tømme blæren i et frit flow1, hvilket nedsætter risikoen for urinvejsinfektioner2. Luja-platformen er med sin Micro-hole Zone Technology en ny generation af intermitterende engangskatetre til mennesker med behov for hjælp til at tømme deres blære. Efter en vellykket lancering af Luja til mandlige kateterbrugere lancerer Coloplast nu Luja til kvinder. ”Vi har modtaget rigtig god feedback for Luja til mænd i vores produktevalueringer. Næsten alle sundhedsprofessionelle anbefaler kat...
Coloplast expands its Luja™ portfolio with next generation catheter fo...
Coloplast expands its Luja™ portfolio with next generation catheter for women The female intermittent catheter enables complete bladder emptying in one free flow1, aiming to reduce the risk of urinary tract infections2. Following the successful launch of Luja with Micro-hole Zone Technology, a next generation intermittent catheter for men, Coloplast is now launching Luja for women. “So far, we have received great feedback on Luja for men in our product evaluations. Nearly all healthcare professionals would recommend the male catheter to their patients3, and sev...
- 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
- Karl-Johan Bonnevier
Ambea (Buy, TP: SEK85.00) - Strong capital allocation case
Solid revenue, earnings and FCF growth continued in Q1, with the components to reach its medium-term >9.5% EBITA margin target clearly visible. We see a strong case given: 1) the robust demand outlook combined with an asset-light, cash-generating model; 2) renewed execution on bolt-on acquisitions and dividends/share buybacks; and 3) an attractive valuation at 2024–2026e FCF yields of 10–14%. We reiterate our BUY and have raised our target price to SEK85 (76).
- ABGSC Healthcare Research
- Morten Larsen
- Rune Majlund Dahl
Coloplast (Buy, TP: DKK1050.00) - Next up: ‘Meet the Management’
Q2 organic growth of 7.5% YOY was in line with our forecast and consensus, but the EBIT margin (b.s.i.) of 27.2% missed. Coloplast revised its 2023/24 reported revenue growth guidance to 10–11% (previously c11%) on FX, but kept its c8% organic growth and 27–28% EBIT margin (b.s.i.) guidance. At the upcoming ‘Meet the Management’ event, we expect an update on its clinical performance programme and a deep-dive into Kerecis. We reiterate our BUY and DKK1,050 target price.
- Alexander Aukner
Bakkafrost (Hold, TP: NOK600.00) - High expectations
Operating EBIT was a solid DKK710m, c5–7% above consensus and our estimate, driven by a high EBIT margin in Faroes Farming and in the fish feed, oil and meal operations. We believe market expectations were high, and the guidance for a more back-end loaded Faroes harvest failed to excite. We have increased our 2024–2025e by 0-5.3% driven by higher Faroes Farming margins. We reiterate our HOLD, but have raised our target price to NOK600 (590).
- Martin Marandon-Carlhian
- Stephane Houri
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
RCO REMY COINTREAU SA
LONN LONZA GROUP AG
EN BOUYGUES SA
ADEN ADECCO GROUP AG
SCR SCOR SE
ZAL ZALANDO SE
GEBN GEBERIT AG
HEI HEIDELBERGCEMENT AG
SOLB SOLVAY SA
COLO B COLOPLAST A/S CLASS B
BP. BP P.L.C.
SHL SIEMENS HEALTHINEERS AG
UN0 UNIPER SE
- Martin Marandon-Carlhian
- Stephane Houri
INFINEON INFINEON TECHNOLOGIES AG
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
RCO REMY COINTREAU SA
LONN LONZA GROUP AG
EN BOUYGUES SA
ADEN ADECCO GROUP AG
SCR SCOR SE
ZAL ZALANDO SE
GEBN GEBERIT AG
HEI HEIDELBERGCEMENT AG
SOLB SOLVAY SA
COLO B COLOPLAST A/S CLASS B
BP. BP P.L.C.
SHL SIEMENS HEALTHINEERS AG
UN0 UNIPER SE
- Oliver Metzger
Coloplast : Q2 review – Top and bottom line a slight miss, focus on LC...
>Q2 review – Miss on top and bottom line - Coloplast’s Q2 2024 revenues of DKK 6,586m (+8.7% y-o-y) were -1%/-2% vs ODDO BHF/consensus, driven by organic growth of 8% (7.3%/7.6% ODDO BHF/consensus). External growth contributed to the tune of 4% and forex created a headwind of 300bp. Coloplast achieved an EBIT of DKK 1,772m (+7.3% y-o-y, margin 26.9%), which was -3%/-4% vs expectations. Profitability was supported by operating leverage and efficiency savings but impact...
- ABGSC Healthcare Research
- Morten Larsen
Coloplast styrker stomiporteføljen med tre nye produktlanceringer
Coloplast styrker stomiporteføljen med tre nye produktlanceringer Selskabet har fået refusionsgodkendelse i Storbritannien for Heylo™, verdens første digitale notifikationssystem til at opdage lækage, og udvider samtidig sin SenSura® Mio-produktserie med to nye lanceringer. Da vi lancerede vores 2025-strategi, Strive25, satte vi et klart mål om at hæve behandlingsstandarden for vores brugere og bringe nye produkter hurtigere til markedet. Jeg glæder mig over at se, at vores innovationsteam bliver ved med at levere, senest med lanceringen af disse tre nye stomiprodukter, fortæller Colopl...
Coloplast strengthens ostomy care portfolio with three significant pro...
Coloplast strengthens ostomy care portfolio with three significant product launches The company has received reimbursement approval in the UK for Heylo™, the world’s first digital leakage notification system, and expands its SenSura® Mio ostomy range with two new products. As part of our 2025 strategy, Strive25, we set an ambition to significantly raise the standard of care for our users and bring new products to market at a higher pace. I am excited to see that our Innovation unit continues to deliver on this commitment, latest with these three new products in Ostomy Care, says Executiv...
Coloplast A/S - Selskabsmeddelelse nr. 02/2024 - Regnskabsmeddelelse, ...
Coloplast A/S - Selskabsmeddelelse nr. 02/2024 - Regnskabsmeddelelse, 1. halvår 2023/24 H1 2023/24Regnskabsmeddelelse, 1. halvår 2023/241. oktober 2023 – 31. marts 2024 Coloplast leverede et solidt 2. kvartal med 8% organisk vækst og en overskudsgrad1) på 27%. Den rapporterede omsætning målt i danske kroner steg 9% med 4 procentpoint bidrag fra Kerecis (underliggende vækst på ca. 35%), delvist udlignet af valutaer. Den organiske vækst pr. forretningsområde var 7% i Stomi, 8% i Kontinens, 13% i Stemme og Respiratorisk Pleje, 8% i Avanceret Sårpleje (8% i Avancerede Sårbandag...
Coloplast A/S - Announcement no. 02/2024 - Interim Financial Report, H...
Coloplast A/S - Announcement no. 02/2024 - Interim Financial Report, H1 2023/24 H1 2023/24Interim financial results, H1 2023/241 October 2023 - 31 March 2024 Coloplast delivered a solid Q2 with 8% organic growth and an EBIT margin1) of 27%. Reported revenue in DKK grew 9% with 4%-points contribution from Kerecis (underlying growth of around 35%), partly offset by currencies. Organic growth rates by business area: Ostomy Care 7%, Continence Care 8%, Voice and Respiratory Care 13%, Advanced Wound Care 8% (Advanced Wound Dressings 8%) and Interventional Urology 5%.Continu...
- ABGSC Seafood Research
- Martin Kaland
- Simon Brun
- Alexander Aukner
Bakkafrost (Hold, TP: NOK590.00) - Q1 beat driven by Faroes
Q1 operating EBIT was DKK710m, 5–7% above our estimate and consensus, with the beat mainly driven by Faroes Farming. Management comments suggest a continued strong biological performance in the sea for Faroes Farming in Q2. The 2024 harvest guidance was unchanged at 66kt from the Faroes and 25kt from the UK. We expect consensus 2024 EPS to come up 0–2% and a similar share price reaction today.
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