Norwegian Potentially Undervalued Companies

Elkem

Market Cap: NOK 13.6b

Engages in the provision of advanced material solutions worldwide.

Cambi

Market Cap: NOK 2.8b

Provides thermal hydrolysis solutions for sewage sludge and organic waste management solutions in Europe, the United States, Asia, Africa, and Oceania.

Photocure

Market Cap: NOK 1.5b

Engages in the research, development, production, distribution, marketing, and sale of pharmaceutical products in Nordic countries, Germany, France, Austria, the United Kingdom, the BeNeLux, Italy, other European Countries, Canada, and the United States.

BWG

Market Cap: NOK 17.7b

An investment holding company, engages in ship owning and chartering activities worldwide.

Hexagon Purus

Market Cap: NOK 599.9m

Provides hydrogen and battery energy storage solutions.

Webstep

Market Cap: NOK 677.4m

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

Stolt-Nielsen

Market Cap: NOK 13.4b

Provides transportation, storage, and distribution solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids worldwide.

Flekkefjord Sparebank

Market Cap: NOK 172.5m

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

Storebrand

Market Cap: NOK 58.4b

Provides insurance products and services in Norway, Sweden, the United Kingdom, Finland, Denmark, Germany, Luxemburg, and Ireland.

Panoro Energy

Market Cap: NOK 3.1b

An independent exploration and production company, engages in the exploration, development, and production of oil and gas properties in Africa.

Shelf Drilling

Market Cap: NOK 1.9b

Operates as a shallow water offshore drilling contractor in the Middle East, North Africa, the Mediterranean, Southeast Asia, India, West Africa, and the North Sea.

Navamedic

Market Cap: NOK 385.0m

A pharmaceutical company, develops, produces, markets, and sells pharmaceuticals and related products in Norway, Sweden, Denmark, Finland, the Netherlands, and internationally.

BW Energy

Market Cap: NOK 8.8b

Engages in the exploration and production of oil and gas properties.

XXL

Market Cap: NOK 1.1b

Operates as a sports retailer in Norway, Sweden, and Finland.

Equinor

Market Cap: NOK 741.5b

An energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and other forms of energy in Norway and internationally.

Inin Group

Market Cap: NOK 296.7m

An investment company, focuses on infrastructure and industry services in Norway, Sweden, and internationally.

Multiconsult

Market Cap: NOK 5.1b

Engages in the provision of engineering design, consultancy, and architecture services in Norway and internationally.

Veidekke

Market Cap: NOK 19.8b

Operates as a construction and property development company in Norway, Sweden, and Denmark.

AMSC

Market Cap: NOK 2.0b

Through its subsidiaries, invests in maritime assets and companies in the United States.

SmartCraft

Market Cap: NOK 4.4b

Provides software solutions to the construction industry in Norway, Sweden, and Finland.

Frontline

Market Cap: NOK 3.3b

A shipping company, engages in the seaborne transportation of crude oil and oil products worldwide.

AutoStore Holdings

Market Cap: NOK 32.3b

A robotic and software technology company, provides warehouse automation solutions in Norway, Germany, rest of Europe, the United States, Asia, and internationally.

Yara International

Market Cap: NOK 80.0b

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

Eqva

Market Cap: NOK 415.7m

Provides technical solutions and services to maritime and land based industries in Norway and internationally.

Goodtech

Market Cap: NOK 258.9m

Provides control systems, digitization, and production solutions for production companies in Norway, Sweden, Finland, Europe, and internationally.

Cadeler

Market Cap: NOK 19.0b

Operates as an offshore wind farm transportation and installation contractor in Denmark.

MPC Container Ships

Market Cap: NOK 7.2b

Owns and operates a portfolio of container vessels.

Axactor

Market Cap: NOK 1.3b

Through its subsidiaries, operates as a debt management and collection company in Sweden, Finland, Germany, Italy, Norway, and Spain.

Interoil Exploration and Production

Market Cap: NOK 32.9m

Operates as an upstream oil exploration and production company in Argentina and Colombia.

Aker BP

Market Cap: NOK 154.1b

Explores for, develops, and produces oil and gas on the Norwegian Continental Shelf.

Moreld

Market Cap: NOK 2.5b

Provides integrated solutions for the energy, marine, and industrial sectors in Norway and internationally.

Atea

Market Cap: NOK 14.6b

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

Kid

Market Cap: NOK 6.2b

Operates as a home textile retailer in Norway, Sweden, Finland, and Estonia.

Mowi

Market Cap: NOK 99.9b

A seafood company, farms, produces, and supplies Atlantic salmon products worldwide.

Awilco LNG

Market Cap: NOK 397.6m

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

Baltic Sea Properties

Market Cap: NOK 460.4m

Engages in the acquisition, development, letting, and rental of investment properties in Lithuania.