All Norwegian Stocks Part 9 – Nr. 121-135
And on we go, after a small break, with a fresh batch of 15 randomly selected Norwegian stocks. This time, the random number generator selected a wide variety of businesses compared to the ususal “Fsih & Ships”. 3 stocks made it onto the watch list, one of them had been in my portfolio in the past. Enjoy !!
121. HAV Group AS
HAV Group is a 32 mn EUR market cap supplier to the maritime industry. Looking at the website, they seem to focus on at least optically on “Green” technologies, for instance electric ships and hydrogen solutions.
That all sounds very good on paper and for 2021 has translated into decent profits, but 2022 looks very different, with declining sales and disappearing profits. Q4 2022 was especially bad with an EBIT margin of -16%.
Looking at the chart, we can see that the timing of the IPO in March 2021 seems to have been perfect….for those who were selling: