Kvartalsrapport (Q3)
17 dager siden‧21min
7,00 NOK/aksje
Siste utbytte
23,20 %Direkteavkastning
Ordredybde
Oslo Børs
Antall
Kjøp
250
Selg
Antall
450
Siste handler
| Tid | Pris | Antall | Kjøpere | Selger |
|---|---|---|---|---|
| 222 | - | - | ||
| 296 | - | - | ||
| 24 | - | - | ||
| 38 | - | - | ||
| 200 | - | - |
Høy
22VWAP
Lav
21,15OmsetningAntall
2,3 105 573
VWAP
Høy
22Lav
21,15OmsetningAntall
2,3 105 573
Meglerstatistikk
Fant ingen data
Selskapshendelser
| Kommende | |
|---|---|
Selskapskalender ikke tilgjengelig | |
| Historisk | ||
|---|---|---|
| 2025 Kvartalsrapport (Q3) | 31. okt. | |
| 2025 Ekstraordinær generalforsamling | 26. sep. | |
| 2025 Kvartalsrapport (Q2) | 15. aug. | |
| 2025 Kvartalsrapport (Q1) | 30. apr. | |
| 2024 Generalforsamling | 25. apr. |
Data hentes fra Millistream, Quartr
Kunder besøkte også
Shareville
Bli med i samtalen på SharevilleEt fellesskap av investorer som deler innsikt og kunnskap i sine porteføljer.
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·12. nov.23,7% utbytte?
for 2 døgn sidenfor 2 døgn sidenHvem datoer har de pleid å betale ut utbytte?
11. nov.11. nov.Innlegget er slettet.
3. nov.3. nov.Wow, hva skjedde idag?😁
2. nov. · Endret2. nov. · EndretNy analyse fra Pareto, de mener aksjen er attraktiv nå da den har falt betydelig siste tre måneder: Rating: Buy Target price (NOK): 30 Share price (NOK): 20 Sea1 Offshore QUARTERLY REVIEW | 2 NOV 2025 CLICK HERE FOR THE FULL REPORT Increasingly attractive entry point Only marginal estimate changes after Q3, and we remain ~9% below 2026e consensus driven by more conservative AHTS spot rate assumptions. The downlisting to Euronext Growth is unlikely to drive increased investor interest while the fleet renewal lays a damper on shareholder distributions. This is now well reflected at 0.75x EV/GAV, EV/EBITDA ‘26e ~4x and P/E 5x. BUY, TP NOK 30 reiterated. Q3’25 in line, marginal changes – still 9% below on 2026e Sea1 reported Q1 EBITDA in line with PAS and ~6% ahead of consensus Segments were a mixed bag with the AHTS (North Sea spot exposed) below our estimates while the Subsea / WIVs outperformed on 100% utilization. EPS was below on higher financials and taxes were (largely one-offs), while OCF was ahead on wc. and capex below (explained by timing), with NIBD then below estimates. Contract coverage is good at ~75% / 50% for 26 / 27e, with the Sea1 Helixes providing high visibility with their ~6yr contracts. On AHTS, Sea1 echoed the offshore drillers in their recent reports expecting utilization a recovery from the back end of 2026. Having heard it all before, seeing is believing and we keep our 25,000 TCE assumption on spot AHTS. We make only minor estimate revisions elsewhere and remain ~9% below pre-quarter consensus for 2026e. Newbuilds consume most cash flow until delivery Sea1s four 250t construction vessel newbuilds are on schedule with contract discussions (targets 2-5Y contracts) a theme for 2026. With subsea vessel demand down ~3-5% y/y while newbuilds are entering the market, we see pressure on pricing. Remaining capex is USD 330m per YE’25, of which USD ~240m is likely to be debt (assuming ~60% LTV). Excluding the newbuilds, the fleet would be debt free by YE’27. Current net debt is USD 196m corresponding to 1.5x ‘26e EBITDA, comfortable as it is backed further by EBITDA backlog on the Helixes alone at USD ~350m. Debt currently amortizes USD ~60m pa., and a flattening of the amortization profile or more financing would be needed for any meaningful shareholder distributions. While there is no firm policy, we do not rule out another ‘capital structure reset’ – given the sponsors’ track record. Increasingly attractive entry point – BUY, TP NOK 30 reiterated The Sea1 Offshore share has underperformed and is down ~25% the last three months – matching peer SOMA where estimates are down more. This is likely partly explained by the decision to downlist to Euronext Growth. With relatively high contract coverage, we find pricing attractive at EV/EBITDA ~4x 2026e and P/E ~5x – in the lower end of peers. Notably though, the case is dependent on the 4x subsea newbuilds, which consumes most cash and lays a damper on shareholder distributions. At EV/GAV ~0.75x or USD ~75m per newbuild we find the current entry point increasingly attractive. BUY, TP NOK 30 reiterated, equal to P/NAV 0.75x Click to open report Analyst(s): Jørgen Søvik Opheim, +47 24 13 21 05, jso@paretosec.com Bård Rosef, +47 24 13 21 56, bard.rosef@paretosec.com T
Kommentarene ovenfor kommer fra brukere på Nordnets sosiale nettverk Shareville og er verken redigert eller forhåndsvist av Nordnet. De innebærer ikke at Nordnet gir investeringsråd eller investeringsanbefalinger. Nordnet påtar seg ikke ansvar for kommentarene.
Nyheter og Analyser
Nyheter og/eller generelle investeringsanbefalinger, eller utdrag av disse på denne siden og øvrige lenker, er produsert og levert av den spesifiserte leverandøren. Nordnet har ikke deltatt i utarbeidelsen, og har ikke gjennomgått eller gjort endringer i materialet. Les mer om investeringsanbefalinger.
Kvartalsrapport (Q3)
17 dager siden‧21min
7,00 NOK/aksje
Siste utbytte
23,20 %Direkteavkastning
Nyheter og Analyser
Nyheter og/eller generelle investeringsanbefalinger, eller utdrag av disse på denne siden og øvrige lenker, er produsert og levert av den spesifiserte leverandøren. Nordnet har ikke deltatt i utarbeidelsen, og har ikke gjennomgått eller gjort endringer i materialet. Les mer om investeringsanbefalinger.
Shareville
Bli med i samtalen på SharevilleEt fellesskap av investorer som deler innsikt og kunnskap i sine porteføljer.
Logg inn
- ·12. nov.23,7% utbytte?for 2 døgn sidenfor 2 døgn sidenHvem datoer har de pleid å betale ut utbytte?
- 11. nov.11. nov.Innlegget er slettet.3. nov.3. nov.Wow, hva skjedde idag?😁
- 2. nov. · Endret2. nov. · EndretNy analyse fra Pareto, de mener aksjen er attraktiv nå da den har falt betydelig siste tre måneder: Rating: Buy Target price (NOK): 30 Share price (NOK): 20 Sea1 Offshore QUARTERLY REVIEW | 2 NOV 2025 CLICK HERE FOR THE FULL REPORT Increasingly attractive entry point Only marginal estimate changes after Q3, and we remain ~9% below 2026e consensus driven by more conservative AHTS spot rate assumptions. The downlisting to Euronext Growth is unlikely to drive increased investor interest while the fleet renewal lays a damper on shareholder distributions. This is now well reflected at 0.75x EV/GAV, EV/EBITDA ‘26e ~4x and P/E 5x. BUY, TP NOK 30 reiterated. Q3’25 in line, marginal changes – still 9% below on 2026e Sea1 reported Q1 EBITDA in line with PAS and ~6% ahead of consensus Segments were a mixed bag with the AHTS (North Sea spot exposed) below our estimates while the Subsea / WIVs outperformed on 100% utilization. EPS was below on higher financials and taxes were (largely one-offs), while OCF was ahead on wc. and capex below (explained by timing), with NIBD then below estimates. Contract coverage is good at ~75% / 50% for 26 / 27e, with the Sea1 Helixes providing high visibility with their ~6yr contracts. On AHTS, Sea1 echoed the offshore drillers in their recent reports expecting utilization a recovery from the back end of 2026. Having heard it all before, seeing is believing and we keep our 25,000 TCE assumption on spot AHTS. We make only minor estimate revisions elsewhere and remain ~9% below pre-quarter consensus for 2026e. Newbuilds consume most cash flow until delivery Sea1s four 250t construction vessel newbuilds are on schedule with contract discussions (targets 2-5Y contracts) a theme for 2026. With subsea vessel demand down ~3-5% y/y while newbuilds are entering the market, we see pressure on pricing. Remaining capex is USD 330m per YE’25, of which USD ~240m is likely to be debt (assuming ~60% LTV). Excluding the newbuilds, the fleet would be debt free by YE’27. Current net debt is USD 196m corresponding to 1.5x ‘26e EBITDA, comfortable as it is backed further by EBITDA backlog on the Helixes alone at USD ~350m. Debt currently amortizes USD ~60m pa., and a flattening of the amortization profile or more financing would be needed for any meaningful shareholder distributions. While there is no firm policy, we do not rule out another ‘capital structure reset’ – given the sponsors’ track record. Increasingly attractive entry point – BUY, TP NOK 30 reiterated The Sea1 Offshore share has underperformed and is down ~25% the last three months – matching peer SOMA where estimates are down more. This is likely partly explained by the decision to downlist to Euronext Growth. With relatively high contract coverage, we find pricing attractive at EV/EBITDA ~4x 2026e and P/E ~5x – in the lower end of peers. Notably though, the case is dependent on the 4x subsea newbuilds, which consumes most cash and lays a damper on shareholder distributions. At EV/GAV ~0.75x or USD ~75m per newbuild we find the current entry point increasingly attractive. BUY, TP NOK 30 reiterated, equal to P/NAV 0.75x Click to open report Analyst(s): Jørgen Søvik Opheim, +47 24 13 21 05, jso@paretosec.com Bård Rosef, +47 24 13 21 56, bard.rosef@paretosec.com T
Kommentarene ovenfor kommer fra brukere på Nordnets sosiale nettverk Shareville og er verken redigert eller forhåndsvist av Nordnet. De innebærer ikke at Nordnet gir investeringsråd eller investeringsanbefalinger. Nordnet påtar seg ikke ansvar for kommentarene.
Ordredybde
Oslo Børs
Antall
Kjøp
250
Selg
Antall
450
Siste handler
| Tid | Pris | Antall | Kjøpere | Selger |
|---|---|---|---|---|
| 222 | - | - | ||
| 296 | - | - | ||
| 24 | - | - | ||
| 38 | - | - | ||
| 200 | - | - |
Høy
22VWAP
Lav
21,15OmsetningAntall
2,3 105 573
VWAP
Høy
22Lav
21,15OmsetningAntall
2,3 105 573
Meglerstatistikk
Fant ingen data
Kunder besøkte også
Selskapshendelser
| Kommende | |
|---|---|
Selskapskalender ikke tilgjengelig | |
| Historisk | ||
|---|---|---|
| 2025 Kvartalsrapport (Q3) | 31. okt. | |
| 2025 Ekstraordinær generalforsamling | 26. sep. | |
| 2025 Kvartalsrapport (Q2) | 15. aug. | |
| 2025 Kvartalsrapport (Q1) | 30. apr. | |
| 2024 Generalforsamling | 25. apr. |
Data hentes fra Millistream, Quartr
Kvartalsrapport (Q3)
17 dager siden‧21min
Nyheter og Analyser
Nyheter og/eller generelle investeringsanbefalinger, eller utdrag av disse på denne siden og øvrige lenker, er produsert og levert av den spesifiserte leverandøren. Nordnet har ikke deltatt i utarbeidelsen, og har ikke gjennomgått eller gjort endringer i materialet. Les mer om investeringsanbefalinger.
Selskapshendelser
| Kommende | |
|---|---|
Selskapskalender ikke tilgjengelig | |
| Historisk | ||
|---|---|---|
| 2025 Kvartalsrapport (Q3) | 31. okt. | |
| 2025 Ekstraordinær generalforsamling | 26. sep. | |
| 2025 Kvartalsrapport (Q2) | 15. aug. | |
| 2025 Kvartalsrapport (Q1) | 30. apr. | |
| 2024 Generalforsamling | 25. apr. |
Data hentes fra Millistream, Quartr
7,00 NOK/aksje
Siste utbytte
23,20 %Direkteavkastning
Shareville
Bli med i samtalen på SharevilleEt fellesskap av investorer som deler innsikt og kunnskap i sine porteføljer.
Logg inn
- ·12. nov.23,7% utbytte?for 2 døgn sidenfor 2 døgn sidenHvem datoer har de pleid å betale ut utbytte?
- 11. nov.11. nov.Innlegget er slettet.3. nov.3. nov.Wow, hva skjedde idag?😁
- 2. nov. · Endret2. nov. · EndretNy analyse fra Pareto, de mener aksjen er attraktiv nå da den har falt betydelig siste tre måneder: Rating: Buy Target price (NOK): 30 Share price (NOK): 20 Sea1 Offshore QUARTERLY REVIEW | 2 NOV 2025 CLICK HERE FOR THE FULL REPORT Increasingly attractive entry point Only marginal estimate changes after Q3, and we remain ~9% below 2026e consensus driven by more conservative AHTS spot rate assumptions. The downlisting to Euronext Growth is unlikely to drive increased investor interest while the fleet renewal lays a damper on shareholder distributions. This is now well reflected at 0.75x EV/GAV, EV/EBITDA ‘26e ~4x and P/E 5x. BUY, TP NOK 30 reiterated. Q3’25 in line, marginal changes – still 9% below on 2026e Sea1 reported Q1 EBITDA in line with PAS and ~6% ahead of consensus Segments were a mixed bag with the AHTS (North Sea spot exposed) below our estimates while the Subsea / WIVs outperformed on 100% utilization. EPS was below on higher financials and taxes were (largely one-offs), while OCF was ahead on wc. and capex below (explained by timing), with NIBD then below estimates. Contract coverage is good at ~75% / 50% for 26 / 27e, with the Sea1 Helixes providing high visibility with their ~6yr contracts. On AHTS, Sea1 echoed the offshore drillers in their recent reports expecting utilization a recovery from the back end of 2026. Having heard it all before, seeing is believing and we keep our 25,000 TCE assumption on spot AHTS. We make only minor estimate revisions elsewhere and remain ~9% below pre-quarter consensus for 2026e. Newbuilds consume most cash flow until delivery Sea1s four 250t construction vessel newbuilds are on schedule with contract discussions (targets 2-5Y contracts) a theme for 2026. With subsea vessel demand down ~3-5% y/y while newbuilds are entering the market, we see pressure on pricing. Remaining capex is USD 330m per YE’25, of which USD ~240m is likely to be debt (assuming ~60% LTV). Excluding the newbuilds, the fleet would be debt free by YE’27. Current net debt is USD 196m corresponding to 1.5x ‘26e EBITDA, comfortable as it is backed further by EBITDA backlog on the Helixes alone at USD ~350m. Debt currently amortizes USD ~60m pa., and a flattening of the amortization profile or more financing would be needed for any meaningful shareholder distributions. While there is no firm policy, we do not rule out another ‘capital structure reset’ – given the sponsors’ track record. Increasingly attractive entry point – BUY, TP NOK 30 reiterated The Sea1 Offshore share has underperformed and is down ~25% the last three months – matching peer SOMA where estimates are down more. This is likely partly explained by the decision to downlist to Euronext Growth. With relatively high contract coverage, we find pricing attractive at EV/EBITDA ~4x 2026e and P/E ~5x – in the lower end of peers. Notably though, the case is dependent on the 4x subsea newbuilds, which consumes most cash and lays a damper on shareholder distributions. At EV/GAV ~0.75x or USD ~75m per newbuild we find the current entry point increasingly attractive. BUY, TP NOK 30 reiterated, equal to P/NAV 0.75x Click to open report Analyst(s): Jørgen Søvik Opheim, +47 24 13 21 05, jso@paretosec.com Bård Rosef, +47 24 13 21 56, bard.rosef@paretosec.com T
Kommentarene ovenfor kommer fra brukere på Nordnets sosiale nettverk Shareville og er verken redigert eller forhåndsvist av Nordnet. De innebærer ikke at Nordnet gir investeringsråd eller investeringsanbefalinger. Nordnet påtar seg ikke ansvar for kommentarene.
Ordredybde
Oslo Børs
Antall
Kjøp
250
Selg
Antall
450
Siste handler
| Tid | Pris | Antall | Kjøpere | Selger |
|---|---|---|---|---|
| 222 | - | - | ||
| 296 | - | - | ||
| 24 | - | - | ||
| 38 | - | - | ||
| 200 | - | - |
Høy
22VWAP
Lav
21,15OmsetningAntall
2,3 105 573
VWAP
Høy
22Lav
21,15OmsetningAntall
2,3 105 573
Meglerstatistikk
Fant ingen data