Stock Market Report: Entra, REC Silicon, Siem Offshore, TGS, Link Mobility, Road Cover, Norwegian Hydro, and SalMar Updates

The Entra share rose 0.8 percent today after the release of the figures and the Hermanrud warning. The figures showed that the margins are moving in the right direction. In the past year, the share is down 30 percent.

For the traders it is REC Silicon which is the most exciting thing today. The money supply shrank massively in the first quarter. At the same time, the weakening of the krone exchange rate brought with it a real currency shock.

Siem Offshore 20-fold operating profit and the share rises 4.8 per cent.

TGS reported turnover of just over NOK 1.8 billion, an increase of almost half a billion compared to the first quarter of 2022, where turnover was NOK 1.3 billion. It is in line with Pareto Securities’ estimates, and they expect small estimate changes after the report. The share falls 0.5 percent.

Link Mobility has struggled with high debt, but analyst Petter Kongslie believes this will fall sharply in the coming years.

– Then the share will more than double, he says to Finansavisen.

Road cover delivered a negative result in the first quarter, but built up the order book to over NOK 43 billion. The share plunges 12 per cent, but the decline is influenced by the fact that the share today also goes ex. dividend of NOK 7.75.

Norwegian Hydro falls heavily by 8.8 per cent as a result of the share being traded ex. dividend of NOK 5.65. Finansavisen’s cover in the paper today was that the company receives NOK 1.7 million in state aid per employee.

Magnus Halvorsen, Edvin Austbø and Celina Midelfart tripled their value in three weeks last spring when they entered one share. One year later, the profit is gone, the rigs are without a contract and a crisis issue had to prevent a breach of the loan agreement.

Strong in salmon

SalMar had an operational operating result of NOK 1.9 billion in the first quarter. It was far better than what analysts expected beforehand. The share rises 5.5 percent.

ABG Sundal Collier writes that the operating profit was 12 per cent higher than the consensus, driven by strong figures for the farming business in Central Norway and the sales and industry segment.

The company maintains its expectation of a slaughter volume in 2023 of 243,000 tonnes in Norway, 16,000 tonnes for Iceland and 37,000 tonnes for Scotland. SalMar expects somewhat higher slaughter volume and a similar cost level in the second quarter of 2023 compared to the first quarter of 2023.

ABG Sundal Collier expects an upward adjustment of the consensus estimates for operating profit in 2023 by 2-4 percent after the report.

“All in all, a strong report from SalMar. The share has been weak ahead of the figures, partly due to weak results from comparable companies in central Norway, and we will therefore probably get a positive share price reaction today,” writes the brokerage house.

More shares will be available continuously.