reports
- Tomi Railo
Cargotec (Buy, TP: EUR88.00) - Attractively valued quality
Following a solid Q1, we have raised our 2024–2026e clean EPS by c11% on average and target price to EUR88 (77). Our positive case elements (Handling it successfully, 21 March) have strengthened and we reiterate our BUY as value creation potential remains.
Tryg A/S – total number of voting rights and capital
Tryg A/S – total number of voting rights and capital With reference to section 32 of the Danish Capital Markets Act (Kapitalmarkedsloven), Tryghereby publishes the company's total number of voting rights and the total share capital. After the capital decrease registered on 29 April 2024 the company's share capital was reduced by nominal DKK 92,214,355 to nominal DKK 3,081,960,545. Tryg's nominal share capital amounts to DKK 3,081,960,545 equivalent to 616.392.109 shares and 308,196,054,500 voting rights as of 30 April 2024. Attachment
Cargotec's interim report January–March 2024: Comparable operating pro...
Cargotec's interim report January–March 2024: Comparable operating profit margin improved in all business areas CARGOTEC CORPORATION, INTERIM REPORT JANUARY–MARCH 2024, 30 APRIL 2024 AT 9:00 AM (EEST) Cargotec's interim report January–March 2024: Comparable operating profit margin improved in all business areas Sequentially stable demand in Hiab and Kalmar, Hiab's orders amounted to EUR 386 million and Kalmar's EUR 402 millionMacGregor’s merchant and services businesses' good performance continued, challenges remain in offshore projectsHiab's comparable operating profit margin was 16.6 (1...
Cargotecin osavuosikatsaus tammi–maaliskuulta 2024: Vertailukelpoinen ...
Cargotecin osavuosikatsaus tammi–maaliskuulta 2024: Vertailukelpoinen liikevoittoprosentti parani kaikilla liiketoiminta-alueilla CARGOTEC OYJ, TAMMI–MAALISKUUN 2024 OSAVUOSIKATSAUS, 30.4.2024 KLO 9.00 Cargotecin osavuosikatsaus tammi–maaliskuulta 2024: Vertailukelpoinen liikevoittoprosentti parani kaikilla liiketoiminta-alueilla Kysyntä edellisen vuosineljänneksen tasolla Hiabissa ja Kalmarissa, Hiabin saadut tilaukset olivat 386 miljoonaa euroa ja Kalmarin 402 miljoonaa euroaMacGregorin kauppalaiva- ja huoltoliiketoimintojen hyvä suoritus jatkui, haasteet offshore-projekteissa jatkuvatH...
PGS ASA: Annual Report 2023
PGS ASA: Annual Report 2023 April 29, 2024, Oslo, Norway: PGS' 2023 annual report can be downloaded from or The Company's 2023 annual financial statements in European Single Electronic Format (ESEF) can be downloaded from the same web pages. For details, contact: Bård Stenberg VP IR & Corporate Communication Mobile: . Attachments
Telia Company AB: 1 director
A director at Telia Company AB bought 14,100 shares at 2.140EUR and the significance rating of the trade was 50/100. 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 clear...
Tryg A/S – capital reduction
Tryg A/S – capital reduction At Tryg’s annual general meeting on 21 March 2024, it was decided to cancel repurchased shares from the Group’s share buy back programmes. The Group’s share capital is reduced by nominal DKK 92,214,355 to nominal DKK 3,081,960,545. The reduction of the share capital was announced by the Danish Business Authority on 22 March 2024. Tryg has not received any objections to the capital reduction. Therefore, the reduction is effective as the Danish Business Authority has registered the capital reduction. After the cancellation of the 18,442,871 repurchased share...
Europris ASA: 1 director
A director at Europris ASA bought 7,232 shares at 68.704NOK and the significance rating of the trade was 69/100. 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 s...
- Stefan Gauffin
Telia Company (Buy, TP: SEK33.00) - Soft Q1, but limited revisions
Telia reported Q1 service revenue, EBITDA, and cash flow below consensus. However, with the SEK300m/year service agreement after the sale of the Danish operation, we have made limited revisions to our 2024–2025e service revenue, EBITDA, and cash flow. We reiterate our BUY but have cut our target price to SEK33 (35).
- Ole Martin Westgaard
Europris (Buy, TP: NOK80.00) - Not its best report
Both the Q1 results and the 2024 cost guidance disappointed. However, we reiterate our BUY as we continue to find the valuation attractive and believe Europris has a winning concept in the current market, but have lowered our target price to NOK80 (85), reflecting our estimate cuts.
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Tomi Railo
- ABGSC Retail Research
- Ali Shemmari
- Petter Nystrøm
- Russell Waller
Telia (Buy, TP: SEK33, +24%) Q1 24: Weak headline numbers, but due to...
Telia has reported a weak set of headline numbers, but consensus had not fully adjusted for the one-off items the company had flagged before the quarter. Adjusting for these items, EBITDA is c-0.5% light only. Structural OCF (SOCF) is also light vs consensus, but again, this was flagged as a phasing issue pre the quarter, and again it looks like the messaging was not fully incorporated into numbers.
- Ole Martin Westgaard
Europris (Buy, TP: NOK85.00) - Weak report and guidance
We consider this a weak report, below expectations due to lower gross margins and higher costs, and a cost guidance above expectations. We expect consensus 2024e EBITDA to come down 7.5–10% and believe a c5–10% negative share price reaction is warranted.
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
- Patrik Ling
Getinge (Buy, TP: SEK255.00) - Upgraded to BUY after Q1 beat
Q1 earnings were stronger than we expected, with no negative surprises. We believe consensus for the coming years looks realistic and that Getinge’s valuation (despite the recent share price rise) looks attractive. Thus, we have upgraded to BUY (HOLD) and have raised our target price to SEK255 (210).
PGS Webcast Details for Q1 2024 Presentation
PGS Webcast Details for Q1 2024 Presentation April 22, 2024, Oslo, Norway: PGS will publish its Q1 2024 results on Wednesday May 8, at 07:00am Central European Summer Time (CEST). The earnings release and the presentation will be published on and on PGS’ website Rune Olav Pedersen, President & CEO and Gottfred Langseth, EVP & CFO will present the results the same day at 08:00am CEST at House of Oslo Conference Center, Ruseløkkveien 34, 0251 Oslo, Norway. The presentation is open to the public and will be webcasted live. To join the webcast, copy and paste the link below into your brow...
- Stefan Gauffin
Elisa (Hold, TP: EUR45.00) - Cost savings continue to lift EBITDA
The Q1 results showed improved mobile service revenue (MSR) growth and a return to growth in International Digital Services (IDS), and group EBITDA beat consensus on cost control. However, due to Elisa’s premium valuation to Nordic peers, we reiterate our HOLD and EUR45 target price.
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