På tide at Bergen Group får seg sin egen tråd
Bergen Group is a well-established Norwegian supplier of products, services and solutions to the offshore and maritime industry.
The Group’s operational activities are carried out by the subsidiary Bergen Group Services AS, focusing on the following three market areas: Energy & Industry, Maritime and Defense.
Bergen Group ASA is listed at Oslo Stock Exchange with ticker BERGEN.
07.02.17 leverte Bergen Group knalltall som fikk de opp på min radar.
Fra Q4 rapporten:
The group’s financial position at year end is significantly improved. The balance is strengthened through mainly an extensive reduction of liabilities and new supply of equity. The group accumulated figures for 2016 show a total turnover of NOK 246 million and a profit after tax of NOK 66 million. The order backlog increased to NOK 172 million, compared with NOK 147 million at the end of 2015.
“The Group now has a significantly stronger financial platform. At the same time, the operations of the subsidiary Bergen Group Services have been further strengthened. The company has during 2016 managed to further improve its position within various market areas”, says Eikeland.
The operational activity of the Group is taking place in the segment Services, of which Bergen Group Services is the engine. In Q4 2016 this segment delivered a turnover of NOK 64 million and a profit before depreciation and amortization (EBITDA) of NOK 2 million. This represents a solid improvement compared to the corresponding quarter in 2015 where turnover stopped at NOK 44 million and income before depreciation and amortization (EBITDA) was negative 3.4 million.
The CEO of Bergen Group ASA makes it clear that the group has ambitions to grow in relation to both revenue and activity areas during 2017. The strategic partnership that recently was initiated with AAK Energy Services is part of this growth strategy.
“Bergen Group has over time built up a unique expertise that is also attractive in other areas than where we operate today. The cooperation with Aak Energy Services give access to complementary competencies that provide us with opportunities to compete in new areas and in larger projects than we currently operate”, says Eikeland who does not exclude further strategic initiatives over the coming quarters.
“We have proved our competitiveness through very turbulent times. Although there are still challenges in parts of the markets we operate in, we are convinced that there are great growth opportunities for Bergen Group”, concludes CEO Hans Petter Eikeland.
For further details, see attached Report for Q4 2016 and preliminary figures FY 2016.
CEO Hans Petter Eikeland, tel. +47 932 08 177
CFO Nils Hoff, tel. +47 930 92 346
SVP Corporate Functions & Communications Øyvind Risnes, tel. +47 480 48 561
Bergen er lavt priset
66mnok gir 16,5mnok i kvartalet. Jeg regner med en 15-20mnok netto i kvartalet i år og får 60-80mnok på bunnlinjen for 2017.
Klipper ut et innlegg fra HO:
La oss bruke 70 mill. og P/E 13 for å regne ut mcap.
Da får vi 13 x 70mill = 910 000 000 delt på antall aksjer(tar med emisjonsaksjene) ca 85mill.
910mill / 85mill aksjer = 10,70 kr.
Kursen står i skrivende stund i 2.77, og mcap er på skarve 200mnok.
De har visstnok også et fremførbart underskudd på 54mnok hvorav 19mnok er godkjent til bruk (siste side i kvartalsrapporten).
Der forventet minst en kontraktsmelding av en betydelig størrelse med forsvaret innen Q2 2017 (ref: kvartalsrapporten).
Bergen er restrukturert og fullfinansiert og har en emisjon pågående hvor ca. 5 mill. nye aksjer kommer på markedet ila. februar / mars.