Oslo Børs Trading Update: Equinor Rises, Aker BP Falls, Link Mobility Increases Turnover, Store Brands Reports Profit, and Archer Delivers Improved Operations with Currency Effects

Wednesday’s trading on Oslo Børs started in the positive, and after half an hour of trading, the main index stood at almost 1,212 points. At lunchtime, the main index stands at 1,201.81 points, down 0.1 per cent. A barrel of North Sea oil sells for 76.25 dollars, down 1.5 per cent.

Bloomberg News reports that the White House has said it will begin replenishing the nation’s strategic oil reserves following maintenance work on storage facilities later this year. Equinor rises 0.3 per cent to NOK 310.15 while Aker BP falls 0.2 per cent to NOK 242.

Link Mobility increased turnover by 23 per cent to NOK 1.44 billion in the first quarter, while organic turnover growth was 12 per cent adjusted for currency. The adjusted operating profit before depreciation and write-downs (EBITDA) ended at NOK 181 million in the quarter. The share rises a full 16 per cent to NOK 11.11.

Says had an operational profit of 322 million euros in the first quarter. This benefits the shareholders, who receive a dividend of NOK 2.00 per share. share, corresponding to just over NOK 1 billion. The share falls 1.5 percent to NOK 188.05.

Store brands Group profit ended at NOK 773 million, compared to NOK 636 million in the same period last year. The solvency margin was 179 per cent, and the group wants to make even more buybacks after the current tranche of half a billion kroner has been completed. The share falls 3.0 percent to NOK 78.84.

“We are always optimistic on Storebrand’s behalf,” manager Jan Petter Sissener told Finansavisen earlier this week.

The car loading company Zaptec turnover of NOK 271 million in the first quarter, up 105 per cent from the same period last year. The company reports that the order backlog is at its highest level ever, and the production volume was significantly higher than in the first quarter of 2022. The EBITDA result was NOK 4.6 million. The share falls 0.2 percent to NOK 41.46.

Archer delivered improved operations, but currency effects destroyed the bottom line. EBITDA ended at USD 25 million, while profit before tax was minus USD 16 million. The share rises 0.2 percent to NOK 0.91.