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Freshly motivated by Rob Vinall’s variety reference, let’s kiss extra frogs within the Norwegian share market to see if we discover a princess or two.. I expanded the quantity of randomly chosen firms to twenty per publish as this permits me to complete the serieswith 4 posts general. This time solely two shares made it on the preliminary watch checklist. Get pleasure from.
196. Attain Subsea
Attain Subsea is a 95 mn EUR market cap marine service firm that appears to focus on “subsea companies”, reminiscent of pipeline expections, reservoir monitoring and so forth. So far as I undestand, these companies are largely geared in direction of the oil and fuel trade.
The inventory has carried out very effectively since a close to dying expertise early 2020 and has made 5x since then:
The corporate appears to supply a few specialist vesssels and the biggest shareholder is Wilhelmsen. 2023 up to now seems to be vey robust and as web revenue additionally went up a lto, the inventory seems to be nonetheless low cost. Major negaitve level is that the enterprise appears to be very brief time period and the order e-book solely covers one quarter of gross sales. Navertheless, onte to doubtlessly “watch”.
197. Capsol Applied sciences
Capsol is a 60 mn EUR market cap firm that appears to have developed a expertise for “finish of pipe” carbon seize, the place CO2 is captured immediately from the exhaust pipes of a Biomass thermal energy plant.
They appear to make use of a expertise that’s completely different from opponents however have already got a minimum of a plant operating and a few gross sales. The inventory has been IPOed into the hypi in October 2021 however solely misplaced -50% since then and gross sales have been rising (from a low stage) lately:
They do have a really complete quarterly report. Regardless of making losses, that is soemthing I wish to have a more in-depth lok at. “Watch”.
198. Aker Biomarine
Aker Biomarine is a 330 mn EUR market cap member of the Aker Group (78% owned by Aker) that accoring to Euornext is ” a biotech innovator and Antarctic krill-harvesting firm, growing krill-based elements for nutraceutical, aquaculture, and animal feed purposes. The corporate’s absolutely clear worth chain stretches from sustainable krill harvesting in pristine Antarctic waters via its Montevideo logistics hub, Houston manufacturing plant, and all the best way to clients all over the world. The corporate is devoted to bettering human and planetary Well being.”
The corporate was IPOed in 2020 and has misplaced greater than -50% since then. The corporate in 2023 up to now is loss making.
I’ve to say that the enterprise mannequin assuch is so unique that I truly prefer it, alternatively it doesn’t sound like such an important enterprise mannequin as such. Subsequently, I’ll “Move”.
199. Norwegian Air Shuttle
Norwegian Air shuttle is a 780 mn EUR market cap brief haul finances airline that’s the successor of bankrupt Norwegian Airways. It appears to be teh Nr. 4 budgest airline in Europe behin Ryanair, Easyjet and Wizzair. I don’t like airways as such and I’m not positive if being the No 4 in a crowded market will ever be a price proposition, due to this fact I’ll “move”.
200, Hofseth Biocare
Hofseth is a 87 mn EUR market firm that “operates as a shopper and pet well being ingredient provider in Norway and internationally”. From waht I perceive they promote fish/salmon primarily based merchandise and have been loss making for a few years. “Move”.
201. Sparebank 1 Ostlandet
Sparebanken 1 Ostlandet is a 1,3 bn EUR market cap native financial savings financial institution, that similarily to different Norwegian financial savings banks is sort of low cost and has finished fairly effectively over the previous few years. It’s majority owned by one other Sparebanken Organisation. Nothing for me, “move”.
202. Lokotech
Lokotech is a 15 mn EUR market cap inventory, that simply modified its title from “Harmonychain” and appears to be a disruptive microchip firm that intends to disrupt every and everybody with the assistance of AI. “Move”.
203. Polaris Media
Polaris is a 216 mn EU market cap media firm that owns conventional and digital media property. Schibsted appears to be a big shareholder, nevertheless in 2023 the corporate was loss making, is sort of indebted and the share value seems to be uninspiring. No angle right here for me, “Move”.
204. Baltic Sea Properties
Because the title signifies, this 27 mn EUR market cap firm is aciv in Business actual property within the Baltics. Not precisely my space of experience, due to this fact I’ll “move”.
205. Scatec
Scatec is a 850 mn EUR market cap that develops and operates Renewable Vitality energy crops globally. The inventory chart seems to be like if thery had on the aspect developed a Covid Vaccine(which they after all didn’t):
At first sight, Scatec seems to be fairly low cost, with a ahead EV/EBITDA of 9x. Then again, Scatec has a variety of debt (20 bn NOKs or ~7x EBITDA. In addtion, the working property are in unique places like Uganda, Philipies; Pakistan and so forth. That is the checklist of working property:
As to e anticipated, operations in these international locations may be very risky, this 12 months the Philipine property carry out worse than anticipated. Though I do like Renewable Vitality builders, Scatec appears slightly bit too “spicy” for me, due to this fact I’ll “move”.
206. Western Bulk Chartering
Western Bulk is a 68 mn EUR dry bulk perator that solely appears to constitution ships, not proudly owning them. Trailing KPIs appear to be very low cost, however in line with their final quarterly launch, outcomes appear to be kind of random. “Move”.
207. Nordic Unmanned
Nordic Unmanned is a 9 mn EUR market cap drone firm that truly has some gross sales however appears to urgently want capital. Because it’s IPO in Decmeber 2020, the inventory misplaced .95% of its worth. “Move”.
208. Univid
Univid is a 4 mn EUR nanocap that has simply modified its title from DLTX and in line with Euronext “wish to venture a way of unity, dedication, and shared dedication to a standard purpose”. That’s very humorous however nonetheless, “move”.
209. Interoil Exploration and Manufacturing
Interoil, with a market cap of 15 mn EUR is, shock an oil firm and “engaged in acquisition, exploration, improvement and operation of oil and fuel properties, and serves as operator and energetic license associate in a number of manufacturing and exploration areas in Argentina and Colombia”. Thanks, “move”.
210. BW Ideol
BW Ideol is a 32 mn EUR market cap firm that’s one way or the other energetic in floating offshore wind. It appears that evidently money is operating out however lcukily a associate made a suggestion at 12 NOK per share which it appears will shut quickly. Sharehodler who purchased this within the 2021 IPO misplaced -75%. “Move”.
211. Var Vitality
Var Vitality is a 8 bn EUR market cap oil upstream firm that’s majority owned by ENI and was spun-off/Ipoed in 2022. The inventory seems to be fairly low cost. For folks excited by Skandinavian oil firms, this may very well be attention-grabbing, for me it’s a “move”.
212. Elkem
Elkem is a 970 mn EUR firm that “develops silicones, silicon merchandise and carbon options, serving to its clients create and enhance electrical mobility, digital communications, well being and private care in addition to smarter and extra sustainable cities.”.
That sounds nice however the inventory has misplaced -50% within the final 8 months or so:
Elkem had 2 excellent years in 2021 and 2022 however 2023 seems to be much less good. Basically the enterprise appears to be very cyclical and vitality intensive. The corporate is majority owned by a HoldCo. “Move”.
213. GC Rieber Transport
Because the title says, this 67 mn EUR market cap firm is energetic in delivery. On the time of writing, the 92% majority holder simply made a voluntary supply for the rest of the shares. “Move”.
214. Totens Sparebank
Totens is a 100 mn EUR market cap “impartial native financial institution established in 1854, and has its main marked within the area round Mjøsa”. Because it’s Norwegian friends, it seems to be low cost and pays a excessive dividend. Nonetheless, I’ll “move”.
215. Biofish Holding
Biofish is a 8 mn EUR microcap that focuses on “small fish” or “smolt – juvenile fish destined for aquaculture amenities”. The corporate has been IPOed in 2021 and as lots of its vinatage friends, misplaced round -95% since then. “Move”.
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