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1. Company Snapshot

1.a. Company Description

Edda Wind ASA develops, builds, owns, operates, and charters out purpose-built service operation vessels (SOVs) and commissioning service operation vessels (CSOVs) for offshore wind farms worldwide.It owns and operates two purpose-built SOVs; operates one chartered in frontrunner vessel; and has 8 offshore wind vessels under construction, which include two offshore wind SOVs and six offshore wind CSOVs. The company was founded in 2015 and is headquartered in Haugesund, Norway.

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1.b. Last Insights on EWIND

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.00%)

6. Segments

Service Element

Expected Growth: 10.27%

Edda Wind ASA's Service Element growth of 10.27% is driven by increasing demand for offshore wind farm maintenance, rising adoption of renewable energy, and strategic partnerships. Additionally, the company's expansion into new markets, improved operational efficiency, and investment in digitalization also contribute to its growth.

Leasing Element

Expected Growth: 10.8%

Edda Wind ASA's 10.8% leasing growth driven by increasing demand for offshore wind farms, government incentives for renewable energy, and strategic partnerships with leading energy companies. Additionally, the company's modern fleet and operational efficiency contribute to its growth, as well as the rising need for sustainable energy solutions.

Victualling

Expected Growth: 4.83%

Edda Wind ASA's 4.83% growth in victualling is driven by increasing demand for offshore wind farm services, rising investments in renewable energy, and strategic partnerships. Additionally, the company's focus on operational efficiency, cost reduction, and expansion into new markets have contributed to its growth momentum.

Other

Expected Growth: 8.23%

Edda Wind ASA's 8.23% growth is driven by increasing demand for offshore wind farm installation and maintenance services, coupled with the company's strategic expansion into new markets and its ability to secure long-term contracts with major energy companies. Additionally, investments in fleet modernization and digitalization have improved operational efficiency, contributing to the company's growth momentum.

7. Detailed Products

Service Operation Vessels (SOVs)

Edda Wind ASA provides Service Operation Vessels (SOVs) that are designed to transport personnel and equipment to offshore wind farms, ensuring safe and efficient operations.

Commissioning Service Operations Vessels (CSOVs)

Edda Wind ASA's Commissioning Service Operations Vessels (CSOVs) are specialized vessels that support the commissioning and installation of offshore wind farms.

Crew Transfer Vessels (CTVs)

Edda Wind ASA's Crew Transfer Vessels (CTVs) are designed for the safe and efficient transfer of personnel to offshore wind farms.

Walk-to-Work (W2W) Vessels

Edda Wind ASA's Walk-to-Work (W2W) Vessels are designed to provide a safe and efficient way to transfer personnel and equipment to offshore wind farms.

8. Edda Wind ASA's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Edda Wind ASA is moderate, as there are some alternative energy sources available, but they are not yet widely adopted.

Bargaining Power Of Customers

The bargaining power of customers for Edda Wind ASA is low, as the company operates in a niche market with limited competition.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Edda Wind ASA is moderate, as the company relies on a few key suppliers for its operations.

Threat Of New Entrants

The threat of new entrants for Edda Wind ASA is high, as the offshore wind industry is growing rapidly and attracting new players.

Intensity Of Rivalry

The intensity of rivalry for Edda Wind ASA is moderate, as the company operates in a competitive market, but has a strong market position.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 50.00%
Debt Cost 3.95%
Equity Weight 50.00%
Equity Cost 6.74%
WACC 5.34%
Leverage 99.98%

11. Quality Control: Edda Wind ASA passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Schoeller-Bleckmann Oilfield Equipment

A-Score: 5.6/10

Value: 7.6

Growth: 5.4

Quality: 5.0

Yield: 6.9

Momentum: 3.0

Volatility: 6.0

1-Year Total Return ->

Stock-Card
TGS

A-Score: 4.5/10

Value: 6.8

Growth: 4.3

Quality: 3.9

Yield: 8.8

Momentum: 0.5

Volatility: 2.7

1-Year Total Return ->

Stock-Card
Gulf Marine Services

A-Score: 4.2/10

Value: 8.8

Growth: 3.1

Quality: 6.7

Yield: 0.0

Momentum: 4.0

Volatility: 2.3

1-Year Total Return ->

Stock-Card
Edda Wind

A-Score: 3.7/10

Value: 6.0

Growth: 3.1

Quality: 2.3

Yield: 0.0

Momentum: 6.0

Volatility: 5.0

1-Year Total Return ->

Stock-Card
CGG

A-Score: 3.5/10

Value: 9.2

Growth: 4.4

Quality: 2.3

Yield: 0.0

Momentum: 4.0

Volatility: 1.0

1-Year Total Return ->

Stock-Card
PGS

A-Score: 2.7/10

Value: 8.2

Growth: 2.1

Quality: 1.6

Yield: 0.0

Momentum: 4.0

Volatility: 0.3

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

22.7$

Current Price

22.7$

Potential

-0.00%

Expected Cash-Flows