Capital Goods Norwegian Community

Key Takeaways Market optimism may be overestimating sustained revenue and margin growth, ignoring uncertainties in demand, political shifts, and execution challenges on backlog conversion. Rising regulatory scrutiny and potential budget shifts toward sustainability could dampen long-term defense order flow, compressing margins and restricting earnings growth.

Catalysts Structural market tailwinds: Offshore wind installations are projected to grow from approximately 8 GW in 2024 to 34 GW by 2030 (28% CAGR), supported by strong policy initiatives in the EU, U.S., and China targeting over 400 GW of capacity. Source.

Q1 2025 Update Very weak quarter both in terms of order intake 142 mUSD (also including about 30 mUSD for "as a service" orders) vs 182 last Q!, no implications for long term valuation. No need to rush in to this stock.

Catalysts Industry Tailwinds: Continued global demand for wastewater treatment driven by urbanisation, water scarcity, and stricter environmental regulations. A rising focus on circular economies that value resource recovery from organic waste.

Key Takeaways Expansion into new markets and tighter EU regulations are driving strong demand and recurring revenue growth in reverse vending, recycling, and sorting solutions. Strategic innovation and cost control position Tomra for earnings growth and margin improvement despite recent macroeconomic challenges and delayed customer investment.

Key Takeaways Rising global demand for sustainable salmon production and stricter regulations are driving adoption of AKVA's advanced, digital, and land-based technologies. Completed R&D investments enable scalable growth, improved margins, and more stable, recurring digital and service revenues.

Key Takeaways Market optimism may be overestimating sustained revenue and margin growth, ignoring uncertainties in demand, political shifts, and execution challenges on backlog conversion. Rising regulatory scrutiny and potential budget shifts toward sustainability could dampen long-term defense order flow, compressing margins and restricting earnings growth.

Key Takeaways Bonheur's Wind Service segment and new wind farms are poised for significant growth, boosting revenue and enhancing renewable energy capacity and earnings. Strategic financial policies and capital allocation aim to optimize financing, reduce risks, and support long-term shareholder value and dividend stability.

Key Takeaways Government incentives and expanding partnerships are boosting demand and positioning Hexagon Purus for recurring revenue and margin improvements in zero-emission mobility markets. Cost reduction initiatives and a diversified order backlog enhance profitability, reduce risk, and provide strong forward revenue visibility amidst decarbonization trends.