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Third party research

Vow: Record-high revenue, profit and backlog - Nordea

Vow

This is a third party research report and does not necessarily reflect our views or values

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Vow reported strong headline figures across the board for H1. Cruise activity is picking up speed, while Landbased continues its strong performance, beating our expectations and growing more than 4x y/y. We consider the report yet another step in the right direction for the company, which currently trades at a large discount to cleantech peers – despite its positive EBITDA contributions across the board. We keep our SOTP-based fair value range of NOK 35-39 unchanged, arguing the company is significantly undervalued at current levels.

Marketing material commissioned by Vow.
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Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.