Norwegian Potentially Undervalued Companies

Hexagon Composites

Market Cap: NOK 2.4b

Provides alternative fuel systems and solutions to commercial vehicles and gas distribution companies worldwide.

Ventura Offshore Holding

Market Cap: NOK 3.5b

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

Archer

Market Cap: NOK 2.6b

Provides various oilfield products and services to the oil and gas industry in Norway, Europe, North America, south America, and internationally.

Sea1 Offshore

Market Cap: NOK 4.3b

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

Elopak

Market Cap: NOK 9.1b

Manufactures and supplies paper-based packaging system solutions for liquid products in Europe, the Middle East, Africa, Asia, Americas, Germany, Canada, Netherlands, Norway, the United States, and internationally.

Xplora Technologies

Market Cap: NOK 2.2b

An information technology company, develops wearable smart devices and connectivity services for kids and families in Germany, Sweden, Norway, the United Kingdom, Finland, Denmark, Spain, the United States, and France.

StrongPoint

Market Cap: NOK 474.6m

Engages in the development, sale, and implementation of integrated technology solutions to retailers in Scandinavia and internationally.

Arctic Fish Holding

Market Cap: NOK 1.3b

Engages in the salmon farming activities in the Westfjords, Iceland.

Yara International

Market Cap: NOK 135.6b

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

Cadeler

Market Cap: NOK 23.9b

Operates as an offshore wind installation vessel contractor in Denmark, the United Kingdom, Germany, Poland, rest of Europe, the United States, and Taiwan.

Atea

Market Cap: NOK 17.6b

Provides IT infrastructure and related solutions for businesses and public sector organizations in the Nordic countries and Baltic regions.

Europris

Market Cap: NOK 15.1b

Operates as a discount variety retailer in Norway.

Integrated Wind Solutions

Market Cap: NOK 2.5b

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

SpareBank 1 Nordmøre

Market Cap: NOK 1.7b

Provides various banking products and services for businesses and individuals in Norway.

Mowi

Market Cap: NOK 106.8b

A seafood company, produces and sells Atlantic salmon products worldwide.

Sparebank 68° Nord

Market Cap: NOK 584.3m

A savings bank, provides various banking services to the personal and corporate market in Norway.

BEWI

Market Cap: NOK 4.4b

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

Solstad Offshore

Market Cap: NOK 5.2b

Owns and operates offshore service vessels.

Solstad Maritime

Market Cap: NOK 13.3b

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.

Odfjell

Market Cap: NOK 9.2b

Engages in the provision of services for the transportation and storage of bulk liquid chemicals, acids, edible oils, and other specialty products in Norway.

SpareBank 1 SMN

Market Cap: NOK 27.6b

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

Dolphin Drilling

Market Cap: NOK 1.2b

Provides drilling services to the offshore oil and gas industry in the United Kingdom, India, Norway, and Nigeria.

2020 Bulkers

Market Cap: NOK 95.3m

Owns and operates large dry bulk vessels worldwide.

DNB Bank

Market Cap: NOK 423.2b

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

DOF Group

Market Cap: NOK 34.5b

Owns and operates a fleet of offshore and subsea vessels.

SpareBank 1 Nord-Norge

Market Cap: NOK 14.8b

Provides banking services in Northern Norway.

Pareto Bank

Market Cap: NOK 5.4b

Provides various banking products and services in Norway.

Grong Sparebank

Market Cap: NOK 742.7m

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

Havila Kystruten

Market Cap: NOK 856.0m

Operates as a shipping company in Norway.

SpareBank 1 Østfold Akershus

Market Cap: NOK 5.6b

Operates as a savings bank that provides various banking products and services in Norway.

DNO

Market Cap: NOK 19.3b

Engages in the exploration, development, and production of oil and gas assets in the Middle East, the North Sea, and West Africa.

Odfjell

Market Cap: NOK 9.2b

Engages in the provision of services for the transportation and storage of bulk liquid chemicals, acids, edible oils, and other specialty products in Norway.

Orkla

Market Cap: NOK 103.1b

Operates as an industrial investment company within brands and consumer-oriented businesses worldwide.

Flekkefjord Sparebank

Market Cap: NOK 176.8m

A savings bank, provides banking services for retail and corporate markets in Flekkefjord, Egersund, Farsund, Hægebostad, Kristiansand, Kvinesdal, Lindesnes, Lund, Lyngdal, and Sirdal and Sokndal.

Bouvet

Market Cap: NOK 4.8b

Provides consultancy services in the fields of information technology and digital communication for public and private sectors in Norway, Sweden, and internationally.

Photocure

Market Cap: NOK 1.7b

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