reports
Novo Nordisk AS: 1 director
A director at Novo Nordisk AS sold 55,000 shares at 902.625DKK and the significance rating of the trade was 81/100. 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 clearl...
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1100.00) - Small guidance raise
Q1 LCY figures beat consensus due to US rebate adjustments related to 2023 adding c5%-points to LCY growth and low SG&A cost boosting EBIT growth in Q1. Wegovy sales were below consensus but above our forecast, and we have therefore adjusted our rebate assumptions for 2024. The 2024 guidance was raised to LCY sales growth of 19–27% (18–26%) and LCY operating profit growth of 22–30% (21–29%). We reiterate our BUY and DKK1,100 target price.
- ABGSC Financials Research
- Albert Broock
- Jan Erik Gjerland
- Magnus Andersson
- Patrik Brattelius
- Russell Waller
Telenor (Buy, TP: NOK145, +14%) Q1 24: Good numbers, impressive FCF g...
Telenor has reported a good set of Q1 numbers, with SR and EBITDA c1% ahead, and FCF 49% ahead. FY24 guidance has not been lifted (but has been reiterated) despite the good Q1 numbers, with phasing of payments/items to impact FCF throughout the rest of the year, and this is perhaps a little disappointing, but momentum is clearly with Telenor at present, and if current trends persist, then guidance and estimates will move up.
- ABGSC Financials Research
- Albert Broock
- Jan Erik Gjerland
- Magnus Andersson
- Patrik Brattelius
- ABGSC Telecom Operators Research
- Oscar Rönnkvist
- Øystein Elton Lodgaard
- Simon Granath
Solid momentum into the year for Telenor
Solid momentum into the year for Telenor Telenor showed good momentum going into the first quarter with top-line growth in both the Nordics and Asia. "The first quarter was yet another solid quarter for Telenor. We continue to develop security services to protect our customers against digital attacks, and we see that it is important for our customers," says Sigve Brekke, CEO of Telenor. Services revenues in the first quarter ended at NOK 15.8 billion, corresponding to an organic increase of 5.6 per cent compared to the same period last year. EBITDA ended at NOK 8.5 billion, correspondin...
God fart inn i året for Telenor
God fart inn i året for Telenor Telenor hadde god fart inn i første kvartal med solid topplinjevekst i både Norden og Asia. – Første kvartal var nok et solid kvartal for Telenor. Vi fortsetter å utvikle sikkerhetstjenester som kan sikre våre kunder mot digitale angrep, og ser at det er viktig for kundene våre, sier Sigve Brekke, konsernsjef i Telenor. Tjenesteinntektene i første kvartal endte på 15,8 milliarder kroner, tilsvarende en organisk økning på 5,6 prosent sammenlignet med samme periode i fjor. EBITDA endte på 8,5 milliarder kroner, tilsvarende en organisk vekst på 6,9 prosent. ...
- ABGSC Financials Research
- Albert Broock
- Jan Erik Gjerland
- Magnus Andersson
- Patrik Brattelius
Vedtægter for Ringkjøbing Landbobank A/S
Vedtægter for Ringkjøbing Landbobank A/S Nasdaq CopenhagenLondon Stock ExchangeEuronext DublinØvrige interessenter Vedlagt følger vedtægter for Ringkjøbing Landbobank A/S af 28. februar 2024. Med venlig hilsen Ringkjøbing Landbobank John FiskerAdm. direktør Vedhæftet fil
Articles of Association for Ringkjøbing Landbobank A/S
Articles of Association for Ringkjøbing Landbobank A/S Nasdaq CopenhagenLondon Stock ExchangeEuronext DublinOther stakeholders Enclosed please find articles of association of Ringkjøbing Landbobank A/S of 28 February 2024. Kind regards Ringkjøbing Landbobank John FiskerCEO Attachment
Gennemførsel af kapitalnedsættelse
Gennemførsel af kapitalnedsættelse Nasdaq CopenhagenLondon Stock Exchange Euronext DublinØvrige interessenter Dato 29. april 2024 Gennemførsel af kapitalnedsættelse Som meddelt i selskabsmeddelelse af den 28. februar 2024 "Meddelelse om afholdt ordinær generalforsamling den 28. februar 2024" blev det på bankens ordinære generalforsamling besluttet at nedsætte bankens aktiekapital med nominelt DKK 784.600 ved annullering af 784.600 stk. egne aktier. Proklamafristen er udløbet uden anmeldelse af krav fra bankens kreditorer, og endelig registrering af ...
Implementation of capital reduction
Implementation of capital reduction Nasdaq CopenhagenLondon Stock Exchange Euronext DublinOther partners Date 29 April 2024 Implementation of capital reduction As advised in the company announcement of 28 February 2024 "Minutes of the annual general meeting held on 28 February 2024", it was decided at the bank´s annual general meeting to reduce the bank's share capital by nom. DKK 784,600 by cancellation of 784,600 own shares. The deadline of the statutory notice to the bank’s creditors has expired with no claims being reported, and final registration of th...
Aktietilbagekøbsprogram - uge 17
Aktietilbagekøbsprogram - uge 17 Nasdaq CopenhagenLondon Stock ExchangeEuronext DublinØvrige interessenter Dato 29.04.2024 Aktietilbagekøbsprogram - uge 17 Aktietilbagekøbsprogrammet løber i perioden fra og med den 1. februar 2024 og til og med den 27. januar 2025 - fordelt på del I med DKK 750 mio. og maksimalt 1.500.000 stk. aktier til effektuering i perioden 1. februar 2024 -28. juni 2024 samt del II med DKK 775 mio. og maksimalt 1.550.000 stk. aktier til effektuering i perioden 1. juli 2024 - 27. januar 2025, jf. selskabsmeddelelse af 31. januar 2024. Programmet gennemføres i...
Share buy-back programme - week 17
Share buy-back programme - week 17 Nasdaq CopenhagenLondon Stock ExchangeEuronext DublinOther stakeholders Date 29.04.2024 Share buy-back programme - week 17 The share buy-back programme runs in the period 1 February 2024 up to and including 27 January 2025. Part I of the programme, for DKK 750 million and a maximum of 1,500,000 shares, is for execution in the period 1 February 2024 - 28 June 2024 and part II of the programme, for DKK 775 million and a maximum of 1,550,000 shares, is for execution in the period 1 July 2024 - 27 January 2025, see company announcement of 31 January ...
- ABGSC Financials Research
- Albert Broock
- Magnus Andersson
- Patrik Brattelius
- ABGSC Financials Research
- Albert Broock
- Jan Erik Gjerland
- Magnus Andersson
- Patrik Brattelius
- Rune Majlund Dahl
Novo Nordisk (Buy, TP: DKK1100.00) - Company consensus added
We are slightly below consensus on Q1e LCY sales growth (we forecast 19.4%, consensus 21.4%) and LCY operating profit growth (we forecast 16.8%, consensus 19.5%), due to lower expected Wegovy sales. However, we believe the Ozempic US prescription trend will prompt management to raise the 2024 guidance to LCY sales growth of 20–28% (18–26%) and LCY operating profit growth of 23–31% (21–29%). We reiterate our BUY and DKK1,100 target price.
- Simen Aas
Axfood (Buy, TP: SEK330.00) - Healthy Q1
We consider this a stable start to 2024, with the Q1 results more or less in line with consensus. The still-weak Swedish consumer continues to seek value for money and campaigns, but Axfood reported healthy volume growth and good customer traffic. Although the sales growth gap to the market is closing, we expect Axfood to perform well in 2024. We reiterate our BUY and SEK330 target price, having made only minor estimate changes.
- ABGSC Retail Research
- Benjamin Wahlstedt
- Fredrik Ivarsson
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