Noe lavere inntekter enn forventet i Q2 grunnet problemer som allerede er løst, men ellers ser dette veldig lovende ut.
Ja synes dette virker lovende framover.
Asker, 16 July 2021: Argeo has successfully completed several key milestone
projects involving all our robotics solutions and data analysis methods for
clients in Q2. However, the revenue came in slightly below guidance due to minor
technical issues that have already been resolved.
“All in all, I am very satisfied on how the second quarter proceeded. We
successfully demonstrated the services based on our surface robotics platform
(ASV) for EPCI clients in Aquaculture and Oil & Gas proving its high-performance
potential in data acquisition and data quality”, says CEO Trond Figenschou
Crantz in Argeo.
Good level of productivity
Also the Hugin AUV system was successfully mobilized for an Oil & Gas
electrification project and recorded productivity of more than 70-line
kilometers over a period of 12-hour continuous acquisition.
“I am very pleased with this high level of productivity, proving the performance
potential previously estimated for this type of technology at 120 – 140-line
kilometres per day. This is over 6x the traditional ROV acquisition speed which
means our solutions are far superior to the competition”, says Crantz.
Revenues for the quarter
Revenues for the quarter was slightly down from our lower guidance target of NOK
15M, ending at NOK 12M.
High activity
“Argeo’s commercial services and offering has been presented to several key
clients in our main market segments receiving positive feedback and generating
several tendering opportunities going forward. Sales are working on ongoing
tendering activity internationally for Offshore Wind, Oil & Gas and Deep Sea
Minerals. General development of the company, including recruitment process,
goes according to plan, readying operations and technical for the incoming new
AUV equipment in Q4”, says Crantz.
Link to project news for ASV’s:
Link to project news for AUV’s:
fication-project/
The Q2 2021 report will be released on the 25th August 2021.
https://live.euronext.com/nb/product/equities/NO0010946593-MERK#CompanyPressRelease-5789351
Spennende fra første linken:
“I’m very pleased with the exceptional results from this project, which is a testament to the brilliant skills of our GEO-team and yet again proves to our demanding clients how very accurate digital models of a project can save millions of Dollars in the later design and construction phase. The efficiency from unmanned autonomous acquisition through a streamlined data management workflow proves our concept of Faster, Better and Greener solutions at a lower cost for our customers and we have more exiting news to be released during our Q2 presentation on the development of this very promising technology.”
FIne takter i dag.
Et lite heads up: MH Capital er nå tom. Fri bane oppover.
Høres bra ut, kjedelig når en større aksjonær skal ut med såpass lav omsetning.
Ser ut som Avanza Bank øker, er det en aktør, eller “samplepost” for flere mindre? Ala Nordnet Livforsikring?
Avanza Bank er en samlekonto, men basert på handelen virker siste økning som en aktør.
SP1M: ARGEO (Buy, TP NOK 18): Transforming the ocean surveying and inspection industry.
Conclusion
We initiate coverage of Argeo with a Buy recommendation and NOK 18 target price. Argeo targets to transform the ocean survey and inspection industry with Autonomous Underwater Vehicles (AUVs), which are faster, cheaper and greener than conventional ROVs. The AUV market is expected to double by 2025 and surpass the ROV market in size by 2030. Argeo is the only pure-play provider of AUVs in the market, and has an asset light and flexible setup with low required utilization for break-even. We see revenues increasing from NOK 66m in 2021e to NOK 506m in 2024e, driven by ramp-up of the AUV fleet and increased utilization, with EBIT margin increasing from 5% to 27% in the period. Note that Argeo’s own revenue estimates are 46-79% above our estimates for 2022-24, meaning there could be upside to our estimates. We calculate EV/EBIT of 4.2x/1.8x in 2022-23e and P/E at 6.3x/3.1x, which is very low both on an absolute basis and vs peers. If Argeo delivers on estimates, we see vast upside beyond our NOK 18 target price.
Noen andre, spennende punkter fra analysen:
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In the projected pipeline, Argeo is in ongoing discussions about a major OW survey project with Equinor. Argeo is also in close dialogue with several major players like Ørsted, C. Phillips and BP.
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Our valuation is based on estimates which is significantly below the company’s own indications. Using Argeo’s own estimates and the same valuation approach, fair share price becomes 2.5x higher than our target price.
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The Digital Ocean Space digital twin project is a innovation Norway sponsored joint industry project (JIP) with a selection of quality industry leading pilot customers. The goal is to aquire data with AUVs over time and create a digital twin of assets, which enables the client to monitor its assets digitally during the lifespan (4D monitoring). This could result in material recurring Software as a Service (SaaS) revenues for Argeo in the future. We have not included any such revenues in our current forecasts.
@pdx mulig å få denne koblet til tekbot og kurs?
Var ikke oppløftende Q2 her.
The revenue for the quarter was slightly lower than our guidance target of NOK 15M, ending at NOK 11M.
Litt teknisk trøbbel med Hugin i oppstarten, men skal være løst nå.
Fikset 
Argeo AS: 12MNOK grant from Innovation Norway and Norwegian Research Council on the Digital Twin project
Tilskuddet tilsvarer noe over 5% av markedsverdien. Argeo opp 0,13%.
Når kan man forvente en update på “ongoing discussions”?
Kan komme når som helst eller aldri.
Selgerne som har tynget aksjen ser ut til å være ferdige nå. Kan bli hyggelig fremover hvis det meldes kontrakter.
Dette ser nå ganske lysende ut.
Utrolig spennende selskap.
Enda muligheter for å komme seg inn under 9 kroner, men det er nå ekstremt lite selgere.
Blir spennende dette. Er de i stand til å ta på seg oppdrag eller er det langt frem i tid? Tenkte jeg skulle lese meg opp på de i helga.