2026 Q2 - tulosraportti
34 päivää sitten
‧39 min
0,071 NOK/osake
Viimeisin osinko
0,00%Tuotto/v
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 1 | - | - | ||
| 60 | - | - | ||
| 3 502 | - | - | ||
| 1 193 | - | - | ||
| 9 768 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 18.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 19.8. | ||
2026 Q1 - tulosraportti 20.5. | ||
2025 Q4 - tulosraportti 25.2. | ||
2025 Q3 - tulosraportti 19.11.2025 | ||
2025 Q2 - tulosraportti 28.8.2025 |
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
·29 min sitten · MuokattuIt is not often that someone writes about the shareholder lists in Vow. Below are changes over the last two days among the top 50 + 1 "bellwether" from FA: NEW Sindre Finnes +95,000 shares. NEW Inprocess Invest AS +1,000,000 shares. NEW Varden Kultur og Mediasenter AS +800,000 shares. Jan Heggelund +121,854 shares. Ristoria AS +435,000 shares. Alpine Capital AS +231,547 shares. DNB bank ASA Melgerkonto +95,260 shares.
- ·2 t sittenThe Danieli agreement seems more interesting than a usual letter of intent. Danieli Corus is a major player in blast furnaces and injection systems, and the collaboration with Vow is exclusive. The most interesting aspect is India. SAIL has already industrially tested biochar and states themselves that they are working on co-injection of biochar together with pulverized coal in blast furnaces. At the same time, Danieli Corus is building a new blast furnace of approx. 4.1 Mtpa for SAIL IISCO, while Vow/Danieli explicitly point to India as one of the first markets. This also aligns well with India's own strategy. The country wants to reduce its dependence on imported coal, and biochar/biocarbon is highlighted as a solution that can both reduce fossil emissions and replace parts of imported fuel with local biomass resources. No documentation that Vow will be involved in the IISCO project specifically, but the connection is interesting: SAIL wants to use biochar, Danieli builds the blast furnace and has the injection systems, and Danieli has now chosen Vow as an exclusive partner for the biocarbon solution. Volumes will be large even with limited substitution. IISCO, for example, has reported around 134 kg of pulverized coal per tonne of hot metal. For a new furnace of approx. 4.1 million tonnes, replacing just 10–20% of this means approximately 55–110,000 tonnes of biocarbon per year, roughly calculated. It is therefore not necessary to replace most of the coal before this can become a very large market for Vow's technology.One of the most perfect things about steelworks is how economically rational it is, if there is good local biomass: Large blast furnace, approx. 4.3 Mt pig iron/year: PCI requirement: 860,000 tonnes/year 15 % biochar = 129,000 tonnes/year Gas requirement: approx. 2.35 TWh/year 13 Vow reactors deliver approx. 1.7 TWh = approx. 72 % of the gas requirement Biomass requirement: approx. 520,000 tonnes/year Gross value coal + gas: approx. 530–580 million NOK/year
3 t sittenOslo, 22 September 2026: Vow ASA's wholly owned subsidiary Scanship AS has entered into an exclusive collaboration agreement with Danieli Corus B.V. to develop and market solutions for the use of biocarbon in integrated steel production. The collaboration combines Vow's pyrolysis technology for converting biomass and waste streams into biocarbon with Danieli Corus' expertise in ironmaking and steelmaking. Sustainably produced biocarbon can replace part of the fossil carbon used in steel production and thereby contribute to reducing the carbon footprint. "This agreement gives Vow access to a relevant industrial channel for our biocarbon production technology in steel production. Together with Danieli Corus, we offer steel producers a practical route to evaluate increased use of net-zero carbon in blast furnace operations," said Gunnar Pedersen, CEO at Vow ASA. Advancing low-carbon steel production Danieli Corus is a Netherlands-based company serving the global steel industry, with specialist capabilities in ironmaking and steelmaking technology. The company supplies fuel injection systems for blast furnaces worldwide. The parties will initially target opportunities in Brazil and India, where biomass-based carbon solutions may be relevant for steel producers seeking to reduce fossil CO2 emissions. The collaboration agreement was mentioned on a no-name basis in Vow's half-year presentation, page 17. The collaboration agreement does not include any firm purchase orders or committed deliveries from Vow. Any future commercial deliveries will depend on customer demand, project development and separate contractual arrangements.A. Vow gets an "industrial validator" Danieli Corus validates that Vow's biocarbon is technically relevant for BF-operation. B. Vow gets a "commercial channel" Vow gains access to steel mills globally via Danieli Corus' existing customer base. C. Vow gets a "scaling partner" Danieli Corus can integrate biocarbon into BF-processes in a way Vow cannot alone. D. Vow gets a "geographical expansion" Brazil and India are the two most scalable markets for biocarbon. E. Vow gets a "strategic position" "Vow ASA's wholly owned subsidiary Scanship AS has entered into an exclusive collaboration agreement" Exclusivity means that competitors cannot copy this entry.
·3 t sitten · MuokattuA clarification regarding Viken park is also a small trigger. The case is still with the Ministry of Local Government and Regional Development. ØAS now has Øra as an alternative, but Viken Park is still Fredrikstad Municipality's preferred solution. A clarification may come during the autumn or winter. If Viken Park gets the green light, it could open for further progress for the project. https://www.arbionindustries.com/viken-park This is probably the last written answer, so an answer should be imminent. https://www.stortinget.no/no/Saker-og-publikasjoner/Sporsmal/Skriftlige-sporsmal-og-svar/Skriftlig-sporsmal/?qnid=117246 Anyone know more?
T T T… It doesn't seem easy to establish industrial jobs here in Norway. (And preserving them seems even harder)- ·8 t sitten · MuokattuYesterday I estimated EBITDA in Q3 and Q4 to a minimum of NOK 22.6 million and NOK 23.5 million, call it a worst-case estimate. Vow is nevertheless within covenants. I have attached an excerpt of calculations from Excel, and below are some short comments. We start by finding available liquidity after capex, interest, leasing and amortisation have been deducted. To be able to pay all obligations, Vow is missing NOK 8.7 million in Q3 and NOK 7.9 million in Q4. The money must be covered by cash or the credit facilities. Covenant 1 – Equity ratio Requirement: >15% My estimate: 20.4% and 19.6%. Comment: Well within requirement. Covenant 2 – DSCR Requirement: >0.80x My estimate: 0.97x and 1.00x Comment: Paid interest is estimated unchanged even if the debt decreases, which means the estimate is somewhat conservative, and if EBITDA comes in higher than my "worst case", the estimate is more conservative. Covenant 3 – NIBD / EBITDA Requirement: >3.50x Estimate: 3.24x and 2.93x Comment: Short-term debt is reduced by NOK 11.5 million in amortisation per quarter, long-term debt is kept unchanged. Vow received over NOK 100 million in July. For Q3, I budget that Vow repaid the credit facility (RCF) by NOK 80 million, while NOK 20 million went to the bank account. RCF is used to cover NOK 8.7 million. For Q4, RCF is used to cover NOK 7.9 million. Vow could just as well have used cash, but I took the money from RCF in the analysis. How much can Vow use of RCF or cash before they break the NIBD/EBITDA covenant? Answer: Vow can use NOK 25 million in Q3 and NOK 34 million in Q4. If they don't use anything in Q3, they can use NOK 59 million in Q4. Other comments: (1) I have deliberately excluded working capital (accounts receivable, inventory and accounts payable). To keep it short, we can expect accounts receivable to finance most or all of the accounts payable in H2 2026. If not, Vow has room to use up to NOK 59 million from RCF without breaking covenants. (2) Vow is within all three covenants, and as long as they are within, DNB CANNOT demand a share issue. Should Vow break a covenant, Vow is not far off, and then destroying value with a share issue makes no sense at all. I therefore see a share issue as very unlikely. Another argument against a share issue is that with upcoming contracts and higher margins, we will see a completely different Vow in 2027. Therefore, I believe the ongoing refinancing will be completed without problems with somewhat tighter covenants beyond 2027/2028.I see that in the Excel sheet I am using NOK 1 mill. higher EBITDA per quarter. This is because last night I played around with the numbers a bit and adjusted down administrative costs from NOK 10 mill. to NOK 9 mill., and I forgot to change it back today. The ratios are approximately the same anyway, just good to mention it.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Välittäjätilasto
Dataa ei löytynyt
2026 Q2 - tulosraportti
34 päivää sitten
‧39 min
0,071 NOK/osake
Viimeisin osinko
0,00%Tuotto/v
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·29 min sitten · MuokattuIt is not often that someone writes about the shareholder lists in Vow. Below are changes over the last two days among the top 50 + 1 "bellwether" from FA: NEW Sindre Finnes +95,000 shares. NEW Inprocess Invest AS +1,000,000 shares. NEW Varden Kultur og Mediasenter AS +800,000 shares. Jan Heggelund +121,854 shares. Ristoria AS +435,000 shares. Alpine Capital AS +231,547 shares. DNB bank ASA Melgerkonto +95,260 shares.
- ·2 t sittenThe Danieli agreement seems more interesting than a usual letter of intent. Danieli Corus is a major player in blast furnaces and injection systems, and the collaboration with Vow is exclusive. The most interesting aspect is India. SAIL has already industrially tested biochar and states themselves that they are working on co-injection of biochar together with pulverized coal in blast furnaces. At the same time, Danieli Corus is building a new blast furnace of approx. 4.1 Mtpa for SAIL IISCO, while Vow/Danieli explicitly point to India as one of the first markets. This also aligns well with India's own strategy. The country wants to reduce its dependence on imported coal, and biochar/biocarbon is highlighted as a solution that can both reduce fossil emissions and replace parts of imported fuel with local biomass resources. No documentation that Vow will be involved in the IISCO project specifically, but the connection is interesting: SAIL wants to use biochar, Danieli builds the blast furnace and has the injection systems, and Danieli has now chosen Vow as an exclusive partner for the biocarbon solution. Volumes will be large even with limited substitution. IISCO, for example, has reported around 134 kg of pulverized coal per tonne of hot metal. For a new furnace of approx. 4.1 million tonnes, replacing just 10–20% of this means approximately 55–110,000 tonnes of biocarbon per year, roughly calculated. It is therefore not necessary to replace most of the coal before this can become a very large market for Vow's technology.One of the most perfect things about steelworks is how economically rational it is, if there is good local biomass: Large blast furnace, approx. 4.3 Mt pig iron/year: PCI requirement: 860,000 tonnes/year 15 % biochar = 129,000 tonnes/year Gas requirement: approx. 2.35 TWh/year 13 Vow reactors deliver approx. 1.7 TWh = approx. 72 % of the gas requirement Biomass requirement: approx. 520,000 tonnes/year Gross value coal + gas: approx. 530–580 million NOK/year
- 3 t sittenOslo, 22 September 2026: Vow ASA's wholly owned subsidiary Scanship AS has entered into an exclusive collaboration agreement with Danieli Corus B.V. to develop and market solutions for the use of biocarbon in integrated steel production. The collaboration combines Vow's pyrolysis technology for converting biomass and waste streams into biocarbon with Danieli Corus' expertise in ironmaking and steelmaking. Sustainably produced biocarbon can replace part of the fossil carbon used in steel production and thereby contribute to reducing the carbon footprint. "This agreement gives Vow access to a relevant industrial channel for our biocarbon production technology in steel production. Together with Danieli Corus, we offer steel producers a practical route to evaluate increased use of net-zero carbon in blast furnace operations," said Gunnar Pedersen, CEO at Vow ASA. Advancing low-carbon steel production Danieli Corus is a Netherlands-based company serving the global steel industry, with specialist capabilities in ironmaking and steelmaking technology. The company supplies fuel injection systems for blast furnaces worldwide. The parties will initially target opportunities in Brazil and India, where biomass-based carbon solutions may be relevant for steel producers seeking to reduce fossil CO2 emissions. The collaboration agreement was mentioned on a no-name basis in Vow's half-year presentation, page 17. The collaboration agreement does not include any firm purchase orders or committed deliveries from Vow. Any future commercial deliveries will depend on customer demand, project development and separate contractual arrangements.A. Vow gets an "industrial validator" Danieli Corus validates that Vow's biocarbon is technically relevant for BF-operation. B. Vow gets a "commercial channel" Vow gains access to steel mills globally via Danieli Corus' existing customer base. C. Vow gets a "scaling partner" Danieli Corus can integrate biocarbon into BF-processes in a way Vow cannot alone. D. Vow gets a "geographical expansion" Brazil and India are the two most scalable markets for biocarbon. E. Vow gets a "strategic position" "Vow ASA's wholly owned subsidiary Scanship AS has entered into an exclusive collaboration agreement" Exclusivity means that competitors cannot copy this entry.
- ·3 t sitten · MuokattuA clarification regarding Viken park is also a small trigger. The case is still with the Ministry of Local Government and Regional Development. ØAS now has Øra as an alternative, but Viken Park is still Fredrikstad Municipality's preferred solution. A clarification may come during the autumn or winter. If Viken Park gets the green light, it could open for further progress for the project. https://www.arbionindustries.com/viken-park This is probably the last written answer, so an answer should be imminent. https://www.stortinget.no/no/Saker-og-publikasjoner/Sporsmal/Skriftlige-sporsmal-og-svar/Skriftlig-sporsmal/?qnid=117246 Anyone know more?T T T… It doesn't seem easy to establish industrial jobs here in Norway. (And preserving them seems even harder)
- ·8 t sitten · MuokattuYesterday I estimated EBITDA in Q3 and Q4 to a minimum of NOK 22.6 million and NOK 23.5 million, call it a worst-case estimate. Vow is nevertheless within covenants. I have attached an excerpt of calculations from Excel, and below are some short comments. We start by finding available liquidity after capex, interest, leasing and amortisation have been deducted. To be able to pay all obligations, Vow is missing NOK 8.7 million in Q3 and NOK 7.9 million in Q4. The money must be covered by cash or the credit facilities. Covenant 1 – Equity ratio Requirement: >15% My estimate: 20.4% and 19.6%. Comment: Well within requirement. Covenant 2 – DSCR Requirement: >0.80x My estimate: 0.97x and 1.00x Comment: Paid interest is estimated unchanged even if the debt decreases, which means the estimate is somewhat conservative, and if EBITDA comes in higher than my "worst case", the estimate is more conservative. Covenant 3 – NIBD / EBITDA Requirement: >3.50x Estimate: 3.24x and 2.93x Comment: Short-term debt is reduced by NOK 11.5 million in amortisation per quarter, long-term debt is kept unchanged. Vow received over NOK 100 million in July. For Q3, I budget that Vow repaid the credit facility (RCF) by NOK 80 million, while NOK 20 million went to the bank account. RCF is used to cover NOK 8.7 million. For Q4, RCF is used to cover NOK 7.9 million. Vow could just as well have used cash, but I took the money from RCF in the analysis. How much can Vow use of RCF or cash before they break the NIBD/EBITDA covenant? Answer: Vow can use NOK 25 million in Q3 and NOK 34 million in Q4. If they don't use anything in Q3, they can use NOK 59 million in Q4. Other comments: (1) I have deliberately excluded working capital (accounts receivable, inventory and accounts payable). To keep it short, we can expect accounts receivable to finance most or all of the accounts payable in H2 2026. If not, Vow has room to use up to NOK 59 million from RCF without breaking covenants. (2) Vow is within all three covenants, and as long as they are within, DNB CANNOT demand a share issue. Should Vow break a covenant, Vow is not far off, and then destroying value with a share issue makes no sense at all. I therefore see a share issue as very unlikely. Another argument against a share issue is that with upcoming contracts and higher margins, we will see a completely different Vow in 2027. Therefore, I believe the ongoing refinancing will be completed without problems with somewhat tighter covenants beyond 2027/2028.I see that in the Excel sheet I am using NOK 1 mill. higher EBITDA per quarter. This is because last night I played around with the numbers a bit and adjusted down administrative costs from NOK 10 mill. to NOK 9 mill., and I forgot to change it back today. The ratios are approximately the same anyway, just good to mention it.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 1 | - | - | ||
| 60 | - | - | ||
| 3 502 | - | - | ||
| 1 193 | - | - | ||
| 9 768 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 18.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 19.8. | ||
2026 Q1 - tulosraportti 20.5. | ||
2025 Q4 - tulosraportti 25.2. | ||
2025 Q3 - tulosraportti 19.11.2025 | ||
2025 Q2 - tulosraportti 28.8.2025 |
Välittäjätilasto
Dataa ei löytynyt
2026 Q2 - tulosraportti
34 päivää sitten
‧39 min
Uutiset
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 18.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 19.8. | ||
2026 Q1 - tulosraportti 20.5. | ||
2025 Q4 - tulosraportti 25.2. | ||
2025 Q3 - tulosraportti 19.11.2025 | ||
2025 Q2 - tulosraportti 28.8.2025 |
0,071 NOK/osake
Viimeisin osinko
0,00%Tuotto/v
Foorumi
Liity keskusteluun Nordnet Socialissa
Kirjaudu
- ·29 min sitten · MuokattuIt is not often that someone writes about the shareholder lists in Vow. Below are changes over the last two days among the top 50 + 1 "bellwether" from FA: NEW Sindre Finnes +95,000 shares. NEW Inprocess Invest AS +1,000,000 shares. NEW Varden Kultur og Mediasenter AS +800,000 shares. Jan Heggelund +121,854 shares. Ristoria AS +435,000 shares. Alpine Capital AS +231,547 shares. DNB bank ASA Melgerkonto +95,260 shares.
- ·2 t sittenThe Danieli agreement seems more interesting than a usual letter of intent. Danieli Corus is a major player in blast furnaces and injection systems, and the collaboration with Vow is exclusive. The most interesting aspect is India. SAIL has already industrially tested biochar and states themselves that they are working on co-injection of biochar together with pulverized coal in blast furnaces. At the same time, Danieli Corus is building a new blast furnace of approx. 4.1 Mtpa for SAIL IISCO, while Vow/Danieli explicitly point to India as one of the first markets. This also aligns well with India's own strategy. The country wants to reduce its dependence on imported coal, and biochar/biocarbon is highlighted as a solution that can both reduce fossil emissions and replace parts of imported fuel with local biomass resources. No documentation that Vow will be involved in the IISCO project specifically, but the connection is interesting: SAIL wants to use biochar, Danieli builds the blast furnace and has the injection systems, and Danieli has now chosen Vow as an exclusive partner for the biocarbon solution. Volumes will be large even with limited substitution. IISCO, for example, has reported around 134 kg of pulverized coal per tonne of hot metal. For a new furnace of approx. 4.1 million tonnes, replacing just 10–20% of this means approximately 55–110,000 tonnes of biocarbon per year, roughly calculated. It is therefore not necessary to replace most of the coal before this can become a very large market for Vow's technology.One of the most perfect things about steelworks is how economically rational it is, if there is good local biomass: Large blast furnace, approx. 4.3 Mt pig iron/year: PCI requirement: 860,000 tonnes/year 15 % biochar = 129,000 tonnes/year Gas requirement: approx. 2.35 TWh/year 13 Vow reactors deliver approx. 1.7 TWh = approx. 72 % of the gas requirement Biomass requirement: approx. 520,000 tonnes/year Gross value coal + gas: approx. 530–580 million NOK/year
- 3 t sittenOslo, 22 September 2026: Vow ASA's wholly owned subsidiary Scanship AS has entered into an exclusive collaboration agreement with Danieli Corus B.V. to develop and market solutions for the use of biocarbon in integrated steel production. The collaboration combines Vow's pyrolysis technology for converting biomass and waste streams into biocarbon with Danieli Corus' expertise in ironmaking and steelmaking. Sustainably produced biocarbon can replace part of the fossil carbon used in steel production and thereby contribute to reducing the carbon footprint. "This agreement gives Vow access to a relevant industrial channel for our biocarbon production technology in steel production. Together with Danieli Corus, we offer steel producers a practical route to evaluate increased use of net-zero carbon in blast furnace operations," said Gunnar Pedersen, CEO at Vow ASA. Advancing low-carbon steel production Danieli Corus is a Netherlands-based company serving the global steel industry, with specialist capabilities in ironmaking and steelmaking technology. The company supplies fuel injection systems for blast furnaces worldwide. The parties will initially target opportunities in Brazil and India, where biomass-based carbon solutions may be relevant for steel producers seeking to reduce fossil CO2 emissions. The collaboration agreement was mentioned on a no-name basis in Vow's half-year presentation, page 17. The collaboration agreement does not include any firm purchase orders or committed deliveries from Vow. Any future commercial deliveries will depend on customer demand, project development and separate contractual arrangements.A. Vow gets an "industrial validator" Danieli Corus validates that Vow's biocarbon is technically relevant for BF-operation. B. Vow gets a "commercial channel" Vow gains access to steel mills globally via Danieli Corus' existing customer base. C. Vow gets a "scaling partner" Danieli Corus can integrate biocarbon into BF-processes in a way Vow cannot alone. D. Vow gets a "geographical expansion" Brazil and India are the two most scalable markets for biocarbon. E. Vow gets a "strategic position" "Vow ASA's wholly owned subsidiary Scanship AS has entered into an exclusive collaboration agreement" Exclusivity means that competitors cannot copy this entry.
- ·3 t sitten · MuokattuA clarification regarding Viken park is also a small trigger. The case is still with the Ministry of Local Government and Regional Development. ØAS now has Øra as an alternative, but Viken Park is still Fredrikstad Municipality's preferred solution. A clarification may come during the autumn or winter. If Viken Park gets the green light, it could open for further progress for the project. https://www.arbionindustries.com/viken-park This is probably the last written answer, so an answer should be imminent. https://www.stortinget.no/no/Saker-og-publikasjoner/Sporsmal/Skriftlige-sporsmal-og-svar/Skriftlig-sporsmal/?qnid=117246 Anyone know more?T T T… It doesn't seem easy to establish industrial jobs here in Norway. (And preserving them seems even harder)
- ·8 t sitten · MuokattuYesterday I estimated EBITDA in Q3 and Q4 to a minimum of NOK 22.6 million and NOK 23.5 million, call it a worst-case estimate. Vow is nevertheless within covenants. I have attached an excerpt of calculations from Excel, and below are some short comments. We start by finding available liquidity after capex, interest, leasing and amortisation have been deducted. To be able to pay all obligations, Vow is missing NOK 8.7 million in Q3 and NOK 7.9 million in Q4. The money must be covered by cash or the credit facilities. Covenant 1 – Equity ratio Requirement: >15% My estimate: 20.4% and 19.6%. Comment: Well within requirement. Covenant 2 – DSCR Requirement: >0.80x My estimate: 0.97x and 1.00x Comment: Paid interest is estimated unchanged even if the debt decreases, which means the estimate is somewhat conservative, and if EBITDA comes in higher than my "worst case", the estimate is more conservative. Covenant 3 – NIBD / EBITDA Requirement: >3.50x Estimate: 3.24x and 2.93x Comment: Short-term debt is reduced by NOK 11.5 million in amortisation per quarter, long-term debt is kept unchanged. Vow received over NOK 100 million in July. For Q3, I budget that Vow repaid the credit facility (RCF) by NOK 80 million, while NOK 20 million went to the bank account. RCF is used to cover NOK 8.7 million. For Q4, RCF is used to cover NOK 7.9 million. Vow could just as well have used cash, but I took the money from RCF in the analysis. How much can Vow use of RCF or cash before they break the NIBD/EBITDA covenant? Answer: Vow can use NOK 25 million in Q3 and NOK 34 million in Q4. If they don't use anything in Q3, they can use NOK 59 million in Q4. Other comments: (1) I have deliberately excluded working capital (accounts receivable, inventory and accounts payable). To keep it short, we can expect accounts receivable to finance most or all of the accounts payable in H2 2026. If not, Vow has room to use up to NOK 59 million from RCF without breaking covenants. (2) Vow is within all three covenants, and as long as they are within, DNB CANNOT demand a share issue. Should Vow break a covenant, Vow is not far off, and then destroying value with a share issue makes no sense at all. I therefore see a share issue as very unlikely. Another argument against a share issue is that with upcoming contracts and higher margins, we will see a completely different Vow in 2027. Therefore, I believe the ongoing refinancing will be completed without problems with somewhat tighter covenants beyond 2027/2028.I see that in the Excel sheet I am using NOK 1 mill. higher EBITDA per quarter. This is because last night I played around with the numbers a bit and adjusted down administrative costs from NOK 10 mill. to NOK 9 mill., and I forgot to change it back today. The ratios are approximately the same anyway, just good to mention it.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 1 | - | - | ||
| 60 | - | - | ||
| 3 502 | - | - | ||
| 1 193 | - | - | ||
| 9 768 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
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