Cautious rise on the Oslo Stock Exchange

The salmon giant Mowi and the industrial group Aker have presented quarterly figures before the stock market opening.

The matter is updated throughout the trading day…

The stock market opened with a cautious rise on Wednesday, and about an hour into the trading day, the rise slows somewhat.

The main index rises 0.09 per cent at 10.20am.

On Tuesday, Børsen stayed in positive territory for large parts of the day and ended with a rise of 0.29 per cent.

One barrel of North Sea oil (burnt spot) trades for 82.0 dollars at the time of writing, a decrease of 1.0 per cent since midnight.

Here’s how it goes with some of the most traded stocks:

• Napatech rises 33.7 percent. The company announced on Tuesday evening that it has raised NOK 225 million in a private placement.
• Equinor falls 1.5 percent.
• Frontline rises 1.12 percent.
• Aker BP falls 1.47 percent.
• DNB is down 0.39 percent.

Mowi pays 776 million in dividends

Salmon farmer Mowi’s revenues in the first quarter fell to 1.33 billion euros, down from 1.36 billion at the same time last year, according to recent quarterly figures.

– The first quarter was biologically challenging for Mowi in Norway due to winter sores and abnormally high occurrences of pearl moths, as well as a very cold winter, says Mowi CEO Ivan Vindheim.

At the same time, it is proposed to pay out NOK 1.5 per share in a quarterly dividend to the owners, a total of NOK 776 million. Last quarter, the dividend was NOK 1.9 per share.

The operational operating profit operational operating profitThe company earns from the operation before interest and tax as well as value adjustments on the fish in the sea regarding salmon price, weight, etc. fell to 201 million euros (2.35 billion kroner) in the first quarter, according to an earlier update, from 322 million the year before.

The Mowi share rises 1.8 percent.

Decrease in value for Aker

The industrial group Aker, of which Kjell Inge Røkke is the largest owner, presented figures before the stock market opened on Wednesday.

The report shows that value-adjusted equity ended at NOK 60.4 billion, down from NOK 63.2 billion at the end of the fourth quarter.

According to the quarterly presentation, the listed krill company Aker BioMarine contributed positively to the value development, but this was more than offset by a decline in the value of the oil company Aker BP.

Aker had NOK 700 million in cash at the end of the quarter, and including unused loan arrangements of NOK 4.8 billion, the total reserve was NOK 5.5 billion.

The Aker share falls 0.8 percent.

Results rush

Before the opening of the stock exchange, a number of quarterly results have come from companies on the Oslo Stock Exchange.

• The oil and gas producer DNO delivered a profit before tax of 59.3 million dollars in the first quarter, down from 158.2 million dollars in the same quarter last year. The result after tax was 16.8 million dollars, down from 87.4 million dollars in the same period last year.
• The seismic company PGS increased its revenue to 217 million dollars in the first quarter from 143 million dollars in the corresponding quarter last year. Operating profit (EBIT) rose to 26.7 million dollars in the quarter from minus 16.1 million dollars in the corresponding period last year.
• Hexagon Composites reports a turnover of NOK 1.08 billion in the first quarter, a decrease from NOK 1.13 billion in the first quarter last year.
• The car parts manufacturer Kongsberg Automotive had revenues of 212 million euros in the first quarter, down from 229 million in the corresponding period last year.
• Housing construction company Prosafe had a negative result before tax of 7.6 million dollars in the first quarter of the year, compared to minus 21.2 million dollars in the same quarter last year.

Follow the results rush in E24’s Aksjelive!