Norway's Eqva ASA Q2 revenue rises 4.6% on acquisitions
Norway's Eqva ASA Q2 revenue rises 4.6% on acquisitions
Overview
Norway industrial services provider's Q2 revenue rose 4.6% yr/yr, driven by acquisitions
Q2 EBITDA increased slightly from a year earlier
Company completed Einar Øgrey Farsund AS acquisition, expanding presence in Southern Norway
Outlook
EQVA enters H2 with NOK 1.1 bln order backlog, 52% from framework agreements
Company sees improving market activity and reactivation of postponed projects
EQVA prioritises margin improvement and collaboration among group companies in H2
Result Drivers
ACQUISITIONS - Co said Q2 revenue growth was driven by contributions from completed acquisitions
MARKET ACTIVITY - Co said underlying market activity improved, with postponed projects being reactivated and activity picking up towards end of period
EINAR ØGREY FARSUND AS INTEGRATION - Co completed acquisition in June, expanding service offering and customer base, with integration well under way and joint projects already delivered
Company press release: ID:nObicykB2a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| NOK 364.90 mln |
|
Q2 EBITDA |
| NOK 19 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the shipbuilding peer group is "buy"
Wall Street's median 12-month price target for Eqva ASA is NOK4.10, about 34% above its August 25 closing price of NOK3.06
Reuters Recommended Reads
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Aug 25 - Canada's Atlas Engineered Products Q2 revenue jumps, partly on acquisitions
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)