Financials Ocean Sun Deutsche Boerse AG

Equities

OW7

NO0010887565

Electric Utilities

Market Closed - Deutsche Boerse AG Other stock markets 02:10:59 2024-05-24 am EDT			5-day change	1st Jan Change
0.306 ^EUR	+3.73%		+7.75%	-14.04%

May. 14	Ocean Sun AS Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
Feb. 15	Ocean Sun AS Announces CEO Changes	CI

Valuation

Fiscal Period: December	2022	2023	2024	2025
Capitalization ¹	272.2	171.4	166.9	-
Enterprise Value (EV) ¹	209.4	124.7	133.9	129.9
P/E ratio	-	-9.32 x	-11.6 x	74.2 x
Yield	-	-	-	-
Capitalization / Revenue	26.2 x	10.4 x	8.34 x	3.97 x
EV / Revenue	20.2 x	7.59 x	6.69 x	3.09 x
EV / EBITDA	-11.7 x	-5.8 x	-7.44 x	64.9 x
EV / FCF	-14.6 x	-7.75 x	-9.56 x	64.9 x
FCF Yield	-6.84%	-12.9%	-10.5%	1.54%
Price to Book	4.31 x	-	5.3 x	4.64 x
Nbr of stocks (in thousands)	44,986	44,986	44,986	-
Reference price ²	6.050	3.810	3.710	3.710
Announcement Date	2/9/23	2/8/24	-	-

¹NOK in Million²NOK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025
Net sales ¹	10.38	16.42	20	42
EBITDA ¹	-17.9	-21.49	-18	2
EBIT ¹	-17.92	-21.5	-18	2
Operating Margin	-172.6%	-130.94%	-90%	4.76%
Earnings before Tax (EBT) ¹	-17.98	-18.4	-18	3
Net income ¹	-17.98	-18.4	-14	2
Net margin	-173.25%	-112.03%	-70%	4.76%
EPS ²	-	-0.4089	-0.3200	0.0500
Free Cash Flow ¹	-14.31	-16.08	-14	2
FCF margin	-137.89%	-97.94%	-70%	4.76%
FCF Conversion (EBITDA)	-	-	-	100%
FCF Conversion (Net income)	-	-	-	100%
Dividend per Share	-	-	-	-
Announcement Date	2/9/23	2/8/24	-	-

¹NOK in Million²NOK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	1.721	3.161	2.722	2.774	2.127	2.56	5.881	5.852	5.54	4	6	6
EBITDA ¹	-4.905	-4.563	-4.589	-5.155	-7.806	-4.493	-5.991	-4.423	-2.963	-5	-4	-4
EBIT ¹	-4.91	-4.568	-4.594	-5.16	-7.811	-4.496	-5.994	-4.426	-2.966	-5	-4	-4
Operating Margin	-285.3%	-144.51%	-168.77%	-186.01%	-367.23%	-175.62%	-101.92%	-75.63%	-53.54%	-125%	-66.67%	-66.67%
Earnings before Tax (EBT) ¹	-4.835	-4.333	-4.379	-4.445	-5.944	-3.903	-4.597	-3.947	-2.482	-5	-4	-4
Net income ¹	-4.835	-4.334	-4.382	-4.441	-5.944	-3.904	-4.599	-3.947	-2.482	-4	-3	-3
Net margin	-280.94%	-137.11%	-160.98%	-160.09%	-279.45%	-152.5%	-78.2%	-67.45%	-44.8%	-100%	-50%	-50%
EPS ²	-0.1100	-0.0963	-0.0970	-	-	-0.0868	-	-	-	-0.0900	-0.0700	-0.0700
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	5/12/22	8/25/22	11/9/22	2/9/23	5/11/23	8/22/23	11/8/23	2/8/24	5/14/24	-	-	-

¹NOK in Million²NOK

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025
Net Debt ¹	-	-	-	-
Net Cash position ¹	62.8	46.7	33	37
Leverage (Debt/EBITDA)	-	-	-	-
Free Cash Flow ¹	-14.3	-16.1	-14	2
ROE (net income / shareholders' equity)	-	-33.9%	-	6%
ROA (Net income/ Total Assets)	-	-	-	-
Assets ¹	-	-	-	-
Book Value Per Share ²	1.400	-	0.7000	0.8000
Cash Flow per Share	-	-	-	-
Capex	-	-	-	-
Capex / Sales	-	-	-	-
Announcement Date	2/9/23	2/8/24	-	-

¹NOK in Million²NOK

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Ocean Sun

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.71 NOK

Average target price

6 NOK

Spread / Average Target

+61.73%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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