Norwegian Potentially Undervalued Companies

Ventura Offshore Holding

Market Cap: NOK 2.3b

A deep-water drilling contractor, provides offshore drilling services to the oil and gas industry in Brazil and internationally.

Archer

Market Cap: NOK 2.4b

Provides various oilfield products and services to the oil and gas industry in Norway, Argentina, the United Kingdom, and internationally.

AKVA group

Market Cap: NOK 3.1b

Designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry.

Yara International

Market Cap: NOK 112.1b

Provides crop nutrition and industrial solutions in Norway, European Union, Europe, Africa, Asia, North and Latin America, Australia, and New Zealand.

Austevoll Seafood

Market Cap: NOK 18.4b

A seafood company, produces and sells salmon and trout, whitefish, and pelagic in Norway, the European Union, the United Kingdom, Eastern Europe, Africa, North America, Asia, and South America.

Cadeler

Market Cap: NOK 18.6b

Engages in offshore wind farm installation, operations, and maintenance services in Denmark.

Bonheur

Market Cap: NOK 10.9b

Engages in the renewable energy, wind service, and cruise businesses in the United Kingdom, Norway, Europe, Asia, the Americas, Africa, and Internationally.

Höegh Autoliners

Market Cap: NOK 19.1b

Provides ocean transportation services within the roll-on roll-off (RoRo) cargoes on deep sea and short sea markets in Norway.

Romerike Sparebank

Market Cap: NOK 402.8m

Provides various banking products and services.

Awilco LNG

Market Cap: NOK 424.2m

Owns and operates liquefied natural gas (LNG) vessels in Norway.

SpareBank 1 Nordmøre

Market Cap: NOK 1.6b

Provides various banking products and services in Norway.

Integrated Wind Solutions

Market Cap: NOK 2.0b

Through its subsidiaries, provides offshore wind services in the United Kingdom, the Netherlands, Taiwan, Poland, Belgium, Greece, France, Denmark, Norway, and internationally.

Elmera Group

Market Cap: NOK 4.2b

Engages in the purchase, sale, and portfolio management of electrical power to households, private and public companies, and municipalities in Norway, Sweden, and Finland.

Sea1 Offshore

Market Cap: NOK 3.8b

Owns and operates offshore support vessels for the offshore energy service industry.

BEWI

Market Cap: NOK 3.9b

Produces, markets, and sells packaging, components, and insulation solutions in Norway and internationally.

SpareBank 1 SMN

Market Cap: NOK 28.4b

Provides various banking, accounting, and real estate products and services to private individuals and companies in Norway and internationally.

Hafnia

Market Cap: NOK 28.3b

Owns and operates oil product tankers in Bermuda.

OKEA

Market Cap: NOK 2.5b

An oil and gas company, engages in the development and production of oil and gas in the Norwegian Continental Shelf.

DNB Bank

Market Cap: NOK 405.7b

Provides financial services to individuals and businesses in Norway and internationally.

Solstad Offshore

Market Cap: NOK 4.1b

Owns and operates offshore service vessels.

Prosafe

Market Cap: NOK 1.2b

Owns and operates semi-submersible accommodation vessels in South America, North America, and Europe.

Solstad Maritime

Market Cap: NOK 9.6b

Owns and operates offshore service vessels (OSVs) that provides maritime services to the offshore energy industry in North Sea, North and Central America, Mediterranean and rest of the Europe, Africa, South America, Australia, and Asia.

Måsøval

Market Cap: NOK 2.9b

An aquaculture company, produces and sells salmon in Norway and internationally.

Gentian Diagnostics

Market Cap: NOK 900.7m

Develops, manufactures, and sells biochemical reagents for use in medical diagnostics and research in the United States, Asia, and Europe.

Havila Kystruten

Market Cap: NOK 927.9m

Operates as a shipping company in Norway.

Lerøy Seafood Group

Market Cap: NOK 27.0b

Produces, processes, markets, sells, and distributes seafood products.

Grong Sparebank

Market Cap: NOK 655.5m

An independent savings bank, provides a range of banking products and services in Norway.

SpareBank 1 Nord-Norge

Market Cap: NOK 15.0b

Provides banking services in Northern Norway.

Photocure

Market Cap: NOK 1.9b

Engages in the research, development, production, distribution, marketing, and sale of pharmaceutical products.

Flekkefjord Sparebank

Market Cap: NOK 185.1m

A savings bank, provides banking services for retail and corporate markets in lekkefjord, Egersund, Farsund, Hægebostad, Kvinesdal, Lindesnes, Lund, Lyngdal, and SirdalogSokndal.

Sogn Sparebank

Market Cap: NOK 166.2m

Provides various banking products and services in Norway.

Wallenius Wilhelmsen

Market Cap: NOK 43.7b

Engages in the logistics and transportation business worldwide.

Webstep

Market Cap: NOK 503.5m

Provides information technology (IT) consultancy services to public and private businesses in Norway and Sweden.

Bouvet

Market Cap: NOK 6.0b

Provides IT and digital communication consultancy services for public and private sectors in Norway, Sweden, and internationally.

Tinde Sparebank

Market Cap: NOK 643.2m

Operates as a savings bank that provides various financial products and services to retail and corporate customers in Romsdal and southern parts of Nordmøre.

Komplett

Market Cap: NOK 2.5b

Operates as an online retailer of electronics products in Norway, Sweden, and Denmark.