International Courant
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On Thursday night, the offshore transport firm Dof will launch its third quarter report, which exhibits an working outcome (EBIT) of NOK 890 million, a rise in comparison with NOK 680 million the yr earlier than.
Gross sales ended at NOK 3.4 billion, whereas the corporate obtained new orders for NOK 4.3 billion. Dof subsequently has an order reserve of NOK 22.3 billion.
For the complete yr 2023, Dof now expects working revenue earlier than depreciation and amortization (EBITDA) of NOK 4.75 to NOK 4.85 billion, up from the earlier estimate of NOK 4.6 to NOK 4.75 billion.
Three to 5 % up
Late Thursday night, Carnegie analyst Erik Aspen Fosså introduced a totally new evaluation. He writes that the EBITDA results of 1.3 billion was in keeping with Carnegie’s estimate and 6 % higher than the consensus estimate.
Fosså expects that the analysts’ consensus estimate for EBITDA will now be elevated by 4 % for 2023 and two to a few % for 2024.
The article continues under the commercialFosså says that the mixture of a robust third-quarter outcome, strong money stream, strong order consumption and an upwardly revised forecast on Friday ought to result in a value improve of a minimum of three to 5 %.
Moreover, Fosså notes that the midpoint of Dof’s new EBITDA steerage nonetheless signifies solely flat earnings development for the fourth quarter, in comparison with the fourth quarter of 2022. Due to this fact, he thinks it’s doubtless that the outcome will attain the higher finish of expectations . accompaniment.
Fosså has a purchase score and a value goal of NOK 80 for the inventory, which suggests an upside of greater than 50 % from present ranges.
On the finish of the third quarter, Dof had web interest-bearing debt of NOK 14.6 billion, in comparison with NOK 15.6 billion on the finish of the second quarter.
Fredriksen is there
In June, Dof made a comeback on Oslo Børs after a protracted, turbulent interval that ended with chapter and in depth restructuring of the corporate. The brand new house owners have already made a strong revenue.
The share listed a value of NOK 28, however rose to NOK 37 on the primary buying and selling day. Immediately the worth stands at NOK 54, that means the inventory has risen 87 % from its itemizing value.
John Fredriksen has shares value NOK 470 million, whereas investor Arne Blystad has shares value NOK 300 million. Fredriksen has been concerned from the beginning, whereas Blystad has grown alongside the way in which, in keeping with shareholder service Holdings.
The article continues under the commercialChairman Svein Harald Øygard and CEO Mons Aase each maintain shares value NOK 36 million. Øygard and Aase have been capable of purchase shares at a value of NOK 23 earlier than the IPO, that means they now have a return of 130 %, or NOK 20 million.
The market worth of fairness now stands at NOK 9.3 billion. In keeping with Holdings, the state is the biggest proprietor by means of Eksfin.(Situations)Copyright Dagens Næringsliv AS and/or our suppliers. We want you to share our instances through hyperlinks that lead on to our pages. Copying or different use of all or a part of the contents could solely be made with written permission or as permitted by legislation. For additional situations see right here.
Analyst expects value improve after Dof report
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