World 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 12 months earlier than.
Gross sales ended at NOK 3.4 billion, whereas the corporate acquired new orders for NOK 4.3 billion. Dof due to this fact has an order reserve of NOK 22.3 billion.
For the total 12 months 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 p.c up
Late Thursday night, Carnegie analyst Erik Aspen Fosså introduced a very new evaluation. He writes that the EBITDA results of 1.3 billion was in keeping with Carnegie’s estimate and 6 p.c higher than the consensus estimate.
Fosså expects that the analysts’ consensus estimate for EBITDA will now be elevated by 4 p.c for 2023 and two to a few p.c for 2024.
The article continues beneath the commercialFosså says that the mix of a robust third-quarter outcome, strong money circulation, strong order consumption and an upwardly revised forecast on Friday ought to result in a worth enhance of at the very least three to 5 p.c.
Moreover, Fosså notes that the midpoint of Dof’s new EBITDA steerage nonetheless signifies solely flat earnings progress for the fourth quarter, in comparison with the fourth quarter of 2022. Due to this fact, he thinks it’s seemingly that the outcome will attain the higher finish of expectations . accompaniment.
Fosså has a purchase score and a worth goal of NOK 80 for the inventory, which suggests an upside of greater than 50 p.c from present ranges.
On the finish of the third quarter, Dof had internet 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 an extended, turbulent interval that ended with chapter and intensive restructuring of the corporate. The brand new house owners have already made a strong revenue.
The share listed a worth of NOK 28, however rose to NOK 37 on the primary buying and selling day. Right now the value stands at NOK 54, that means the inventory has risen 87 p.c from its itemizing worth.
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 accordance with shareholder service Holdings.
The article continues beneath the commercialChairman Svein Harald Øygard and CEO Mons Aase each maintain shares value NOK 36 million. Øygard and Aase have been in a position to purchase shares at a worth of NOK 23 earlier than the IPO, that means they now have a return of 130 p.c, or NOK 20 million.
The market worth of fairness now stands at NOK 9.3 billion. Based on Holdings, the state is the biggest proprietor by 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 regulation. For additional situations see right here.
Analyst expects worth enhance after Dof report
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