Q2/25 reported EBIT beat estimates while it was inline excluding one-off income. Given that the icebreaker utilization was less than half vs. last year, the in-line EBIT…

All three main segments beat our Q4-24/25 EBIT estimates by double-digits resulting in the second highest full-year EBIT in the company’s history. The 2024/25 EBITDA was above…

Q2/25 Loan book and Revenues beat while profits were in-line. All bond covenants were met. The dividend yield is slightly higher than the bond yield. The main…

Q2/25 Group adj. EBITDA was in-line with forecast as better than expected Reserve Capacities segment offset negative deviations from other segments. The 2025 guidance was reiterated. The…