Norbit stiger etter kraftig resultatløft

Oslo Børs' main index rose by 0.05 percent shortly after the opening of trading on Thursday. Among the most traded stocks, oil prices had fallen below 2 percent since Wednesday when Oslo Børs closed. Early on Thursday, oil prices had increased, and Nordic oil (Brent spot) was trading below $93 per barrel shortly before the market opened.

Technology company Norbit presented figures for the third quarter on Thursday: all business segments contributed to growth in the quarter, demonstrating the strength and robustness of our diversified business model, says the company's CEO, Per Jørgen Weisethaunet. Tankrederiet Okeanis presented third-quarter results on Wednesday evening, which among others showed the company paying a dividend of $7 per share for the third quarter, equivalent to $278 million or 2.6 billion kroner.

Okeanis surpassed expectations and announced its highest dividend ever of $7 per share. Analyst Fredrik Dybwad noted that pre-signed freight contracts for the fourth quarter indicated earnings per share of $13.30, compared to the consensus of $7.54. The company has covered 87 percent of available VLCC days in the fourth quarter at $430,000 per day, while 60 percent of Suezmax capacity is covered at $411,000 per day.

Five VLCC ships have been laid off on short-term contracts of 100-150 days. These factors brought down the overall VLCC rate for the fourth quarter compared to the spot market, but were expected to positively impact earnings in the first quarter of next year, Dybwad highlighted. The shipbuilding company Grieg Seafood presented an update before the market opened on Thursday.

The company had an operating profit of 91 million kroner in the third quarter, up from one million kroner in the same period last year. Income increased to 1.14 billion kroner, from 754 million kroner the previous year. According to the company, a consolidation at a facility in September led to increased fish mortality. The company reports costs of 66 million kroner related to reduced survival. - The combination of results below expectations, lower volume guidance, and higher costs than expected is not a positive cocktail, writes Pareto Securities analyst Henrik Longva Knutsen.

He expects the analysts' earnings estimates for 2027 to be revised down by around 15 percent. Offshore company DOF Group pays out $0.40 per share in dividends, according to a shareholder notice. The last trading day with entitlement to the dividend is November 19, payable on November 30 in kroner. The result before taxes increased by 14 percent to $149 million in the third quarter, up from $131 million the previous year.

Revenue grew to $577 million, up from $465 million in the same quarter last year. Operating profit increased to $156 million, up from $128 million. Dividends from asset sales contributed $21 million, up from $12 million the previous year. The inventory reserve is worth seven billion dollars when contracts entered after the quarter's end are included, compared to 6.6 billion at the end of the previous quarter.