[ad_1]
And the ultimate batch of randomly chosen Norwegian shares. The random generator turned this right into a “Salmon & Sparekassen” episode, however in between we have now a number of fascinating ones. This was the final publish with the quick evaluation and I’m glad that I completed this in 2023. There will probably be one other Norway Abstract publish in a number of days. To maintain the strain excessive, I’ll solely reveal the following nation then. Take pleasure in !!!
256. Aker ASA
Aker is the High Holdco of the Aker Group, which has a number of different listed firms that I’ve lined already. Created by “self-made” billionaire Kjell Inge Rogge, Aker is valued at 4,4 bn EUR, of which 68% is owned by Rogge.
What I like about Aker is that they’ve superb reporting the place you’ll be able to simply see how the worth is distributed throughout the Group firms. That is from the Q3 presentation:
Oil & Gasoline is clearly their largest publicity. The long run observe report of Aker is actually good, though lately, as an example the entry into renewable vitality (Aker Horizon) was actually bumpy.
If I’d make investments into Aker, the Holdco would clearly be my first alternative, possibly adopted by Aker Carbon Seize. One side that could be a little bit regarding is that the founder, now at age 65 appears to be on the “Mega Yacht” stage and has commissioned one of many largest personal yachts ever. To be truthful, the REV Ocean at an estimated price of 500 mn will turn out to be a “reseach vessel” however it’s not clear if and the way Rokke nonetheless focuses on his firm. His son can also be working within the firm as CEO of Aker Horizon, nevertheless the observe report is blended at greatest. As well as, in 2022 Rokke introduced that he’ll transfer to Siwtzerland which could have price him some sympathies in Norway.
However, Aker ASA is clearly one to “watch”.
257. Sparebank 1 Ringerike Hadeland
With 420 mn EUR, Spareanken Ringerike Hadeland is a mid sized financial savings financial institution. Like all of the others, it appears low-cost (P/E 9x) and pays a good dividend. Anyway, I’ll keep away from Sparebanken, “go”.
258. M Vest Water
M Vest Water is a 18 mn EUR market cap “environmental expertise firm, offers options for water and wastewater remedy.” At first sight, this appears like one other early stage VC firm with a 2023 gross sales run price of 1 mn EUR and losses. “Move”.
259. Mintra Holding
Mintra Holding is a 69 mn EUR market cap firm that “offers digital studying and human capital administration software program options worldwide”. For a change, this 202 IPO is worthwhile, nevertheless it’s not rising a lot. They appear to have paid out huge particular dividends in 2022 and 2023. A P/E of 15 and an EV/EBITDA of 11 look affordable. “Watch”.
260. Sandes Sparebanken
Surprisingly, there are nonetheless Sparebanken left within the record. Sandnes, with a market cap of 175 mn EUR is among the smaller ones and appears much like all of the others (P/E 9x, 7% dividend). “Move”.
261. Sparebanken Vest
With a market cap of 1 bn, this is among the bigger ones. With 8x P/E and a 7% dividend yield it appears equally low-cost as all of the others. “Move”.
262. NTS
NTS is a 960 mn EUR “Aquaculture Infrastructure” firm that’s working ships to service and preserve ocean fish farming amenities. That sounds fascinating, however margins have been declining steadily since 2017, return on capital is low and the corporate has numerous debt. “Move”.
263. Sparebank 68 Nord
A tine, 40 mn EUR market cap Sparebank who would solely stand out if they might rename themselves to “Sparebank 69”, which after all they don’t. “Move”.
264. MOWI
With 8,1 bn EUR, MOWI is clearly one of many “Massive fishes” among the many Norwegian fish farmers. The inventory presently trades on the degree of 2018 and appears fairly low-cost (11x P/E), with the primary KPIs fairly OK. The fish enterprise appears to be cyclical, however MOWI may be an fascinating inventory to be taught extra. “Watch”.
265. Salmones Camanchaca
Salmones, with a market cap of 190 is just a little fish in comparison with MOWI (Nr. 264). Curiously, this one operates in Chile. It appears fairly low-cost however has misplaced 2/3 of its worth for the reason that IPO in early 2019. Possibly not the place to begin to make investments into fish farming, “go”.
266. Norcod
As “Salmon solely” tends to be boring, Norcod, because the identify says, is a 39 mn EUR market cap fish farmer that makes a speciality of Cod. Because the inventory misplaced -90% since its 2021 IPO, this appears to not be really easy. “Move”.
267. Subsequent Biometrcis
Subsequent is a 60 mn market cap firm that “engages within the analysis, growth, manufacture, and commercialization of fingerprint expertise and merchandise in Asia”. With a streak of 11 loss years in a row, the one query is why this firm nonetheless exists. “Move”.
268. Sparebanken Sor
440 mn market cap, 8x P/E, 7% dividend yield. “Move”.
269. Nidaros Sparebank
10 mn market cap, 12x P/E, 8% dividend yield. “Move”.
270. Schibsted
Schibsted is a 5,5 bn EUR market cap firm that efficiently entered the net labeled market. In 2019, they spun-off the net labeled enterprise into an entity known as Adevinta (Nr. 103). Adevinta acquired a take over supply from Permira and Blackstone, valueing Schibsted’s stake at round 3,9 bn USD or 3,5 bn EUR.
Schibsted stated that they may promote 60% of their place into the tender and keep invested within the remainung 40%. As well as, Schibsted appears to promote its Media enterprise to its most important shareholder for round 0,5 bn EUR.
Schibsted has round 500 mn in debt, the remaining enterprise (Nordic market locations) appears to have a run price of ~200 mn EUR per 12 months. The share worth has been on a wild trip, however long run worth creation is superb.
There may be numerous stuff occurring at Schibsted and I feel that it’s price to “watch”.
271. Skue Sparebank
42 mn EUR market cap, 7x P/E and 5% dividend yield. “Move”.
272. Sparebank 1 Sorost-Norge
771 mn EUR market cap, 10x P/E, 4% dividend yield. “Move”.
[ad_2]
Source link