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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Nordic Semiconductor ASA    NOD   NO0003055501

NORDIC SEMICONDUCTOR ASA

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Nordic Semiconductor ASA : Magnus Carlsen, the best player in chess history, becomes an ambassador for Nordic Semiconductor in three-year sponsorship deal...

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08/13/2013 | 07:52am EDT

Magnus Carslen, the youngest ever chess world number 1, shakes hands on a three-year sponsorship deal with Nordic Semiconductor CEO Svenn-Tore Larsen (right). Foto: Moment Studio

Described as 'a perfect match' by Nordic Semiconductor's CEO, Svenn-Tore Larsen, the leading manufacturer of ultra low power wireless technology teams up with the world's number one chess player.

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Oslo, Norway

2013/08/13

Ultra low power (ULP) RF specialist Nordic Semiconductor ASA (OSE: NOD) today announces it is sponsoring Magnus Carlsen, the youngest player to be ranked number one in world chess and the highest ranking points holder in the history of the game, in a three-year deal.

Norwegian Carlsen rose to the top of the world rankings in January 2010, just after his 19th birthday. In December 2012, Carlsen broke the 13-year ranking point record held by Gary Kasparov by gaining 2861 Elo rating system points against Kasparov's best of 2851. He has so far peaked at a record high of 2872, earning him the right to be called the best player in chess history. In 2013, Time magazine ranked Carlsen among the 100 most influential people in the world. Carlsen takes on the reigning world champion, Vishny Anand, in a 12-match playoff for the world championship title in Chennai, India, later this year.

"We are delighted to have the opportunity to sponsor Magnus Carlsen. His presence will boost staff motivation and help us recruit the best people, but we will gain much more than that from this exciting association," says Nordic's CEO, Svenn-Tore Larsen. "The core value of this sponsorship is the ability of Magnus to act as a Nordic ambassador and open doors at the very highest level. He has access to people and events normally reserved for dignitaries such as Presidents."

With the signing of the Nordic deal, Carlsen has completed his sponsorship portfolio. "We kept one sponsorship position open for a while in order to find the best partner," comments Carlsen's manager Espen Agdestein. "For Magnus it`s not just a question of money, but of finding sponsors with values and beliefs that he can relate to."

"There are great benefits to our brand in the association with Magnus," adds Svenn-Tore Larsen. "Just like him, Nordic has succeeded in a very competitive global sector. While Magnus' business is chess and Nordic's is ultra low power wireless technology, both have to be continuously creative, while still being totally reliable. There is no room for mistakes in either environment."

Carlsen is enthusiastic about the partnership. "Nordic is the leading company in a market that is about to boom, with a cascade of new products and services being developed all over the world," he comments. "I look forward to being part of this revolution."

Having succeeded in pioneering the ultra low power wireless technology sector with its proprietary technology, Nordic Semiconductor was part of the group that developed Bluetooth® low energy, a hallmark element of the Bluetooth v4.0 Core specification. The company has also collaborated with ANT Wireless of Cochrane, Canada--the company behind ANT RF protocol software and ANT+ Managed Networks--for over a decade.

The latest smartphones from major manufacturers incorporate chips and software supporting Bluetooth v4.0 or ANT+ that can communicate with Bluetooth Smart devices or ANT+ peripherals equipped with Nordic's nRF51 Series Systems-on-Chip. (See "About nRF51 Series" below). This functionality is yielding many new opportunities for wirelessly-connected products, powered by coin cell batteries, such as handset accessories, sports & fitness monitors, and toys. (See "About Bluetooth low energy wireless technology" and "About Nordic ANT wireless connectivity" below.)

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Financials (NOK)
Sales 2019 2 358 M
EBIT 2019 41,0 M
Net income 2019 35,8 M
Finance 2019 605 M
Yield 2019 -
P/E ratio 2019 257x
P/E ratio 2020 31,5x
EV / Sales2019 3,46x
EV / Sales2020 2,60x
Capitalization 8 762 M
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Mean consensus BUY
Number of Analysts 4
Average target price 49,50  NOK
Last Close Price 50,00  NOK
Spread / Highest target 26,0%
Spread / Average Target -1,00%
Spread / Lowest Target -20,0%
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Managers
NameTitle
Svenn-Tore Larsen Chief Executive Officer
Birger Steen Chairman
Pål Elstad Chief Financial Officer
Svein-Egil Nielsen Chief Technology Officer
Jon Helge Nistad Director
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