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Nyhetsflöde MT Højgaard Holding

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2/27/2024 6:19:04 AM - MT Højgaard Holding: Completes disposal of Faroe Islands; Ambitions for stable cash flow in '24e - ABG - Om Monday, MTHH announced the disposal of its Faroe Island ops<br>Keeping cash flow stable would further boost net cash position<br>Doable, but not trivial
2/23/2024 6:18:18 AM - MT Højgaard Holding: Building a stronger, profitable growth company - ABG - Robust guidance with earnings outlook ahead of expectations<br>New CEO a passion for ESG and on delivering profitable growth<br>Disposal of non-core activities proceeding as planned
2/21/2024 6:31:51 AM - MT Højgaard Holding: Entering 2024 with a robust order book - ABG - 2024e-25e sales and EBIT cuts of 2-6%<br>Based on robust order book, we forecast 2024e sales of DKK 10.2bn<br>Order timing, macro uncertainty could result in guidance being lower
11/14/2023 6:11:19 AM - MT Højgaard Holding - Focus on profitable growth, following disposal - ABG - We increase '23e EBIT by 21%, and lower '24e-'25e by 1-6%<br>Ends the quarter with an adjusted order book of DKK 19.4bn<br>Orders delayed into Q4'23e and FY'23e
11/10/2023 12:14:51 PM - MT Højgaard Holding: Last quarter with International dragging down earnings - ABG - Revenues and EBIT of Danish operations growth by 23% and 89%<br>Delays meant that order intake dropped by 56%<br>Focus on profitable growth going forward
11/9/2023 6:19:46 AM - MT Højgaard Holding: Strong development in DK units expected - ABG - 2023-25e earnings forecasts raised by 3-64%...<br>...due to the sale of International, strong development in DK<br>We forecast Q3'23 sales of DKK 2.5bn and EBIT of DKK 106m
10/27/2023 10:53:57 AM - MT Højgaard Holding: FY'23 EBIT guidance raised as board decides to fully dispose of International - ABG - - Board of directors decides to initiate sale process for International activities<br>- Due to reclassification, FY'23 revenue guidance is lowered by DKK 250m. EBIT raised by DKK 178m<br>- Creates a purer play for investors and a stronger company for its employees
10/26/2023 8:00:40 AM - MT Højgaard Holding: Announces sale of Seth and raises FY'23 revenue guidance - ABG - Revenue guidance raised to DKK 10bn from DKK 9.0 - 9.5bn<br>Announces sale of Seth as restructuring of its International division continues<br>Further streamlines the profie of MTHH, frees up management resources
10/18/2023 9:06:22 AM - MT Højgaard Holding: Rønne order worth up to DKK 590m - ABG - MT Højgaard announces win of Rønne harbour phases 3 and 4No order amount included in Tuesdays press releaseTender material indicates value of to DKK 590mNo impact on FY23 guidance but contributes to 2024, '25 revenuesIn Tuesdays order announcement pertaining to the won contract for the continued expansion (phases 3 and 4) of the Rønne harbour, the parties did not disclose the order amount but according to the tender notice, phase 3 is estimated at DKK 190, while phase is estimated at DKK 400m, amounting to a total order value of DKK 590m. According to yesterday's press release, the order will contribute to revenues in 2024 and 2025. We view this as an important order for MT Højgaard as Harbour works is one of the company's legacy expertises.Läs mer på ABG Sundal Collier
10/5/2023 5:37:39 AM - MT Højgaard Holding: E&P unit announces partnership project worth up to DKK 512m - ABG - E&amp;P in wins tender in collaboration with close partners<br>No impact on financial guidance
8/29/2023 5:36:03 AM - MT Højgaard Holding: We increase our forecasts - ABG - 2023e sales increased by 4%, earnings lowered by 2%<br>Earnings forecasts beyond 2023e up by 7-17%<br>Strong orderbook comforting in tough market
8/25/2023 7:30:29 AM - MT Højgaard Holding: Strong underlying results - ABG - Sales increase 21%, 17% ahead of our expectations<br>Robust Danish operations and strong order book<br>International impacts earnings by DKK -64m
8/23/2023 3:21:33 PM - MT Højgaard Holding: Focus on International, order intake - ABG - Earnings forecast lowered by 5-25%<br>Q2'23e sales increase of 7%<br>Focus on the ongoing stategic process
7/5/2023 7:46:25 AM - MT Højgaard Holding: Sale of ScandiByg removes overhang - ABG - Nordic Wood exercises option to buy ScandiByg<br>Removes overhand and frees up management resources
6/13/2023 6:01:12 AM - MT Højgaard Holding: Impressions from downgrade call - ABG - Recent reviews of Greenland, SETH triggered the downgrade<br>Conservative view embedded in downgrade<br>Future risks (2024e), if any, hinge on Greenland
6/12/2023 5:24:50 AM - MT Højgaard Holding: Downscales international activities and cuts guidance - ABG - Continued underperformance in Greenland triggers downgrade<br>Strategic process for MTH International initiated<br>Call with management Monday at 8:30 (CET)
5/17/2023 5:13:28 AM - MT Højgaard Holding: Impressions from Q1'23 roadshow - ABG - Strong backlog allows focus on quality improvements<br>Hands-on focus on Greenland as guidance depends on it<br>Ambitions for shareholder-friendly capital allocation
5/12/2023 5:29:02 AM - MT Højgaard Holding: We sense focus and high ambitions - ABG - 2023e sales and earnings forecasts lowered by 2-13%<br>Danish operations performing well under current market conditions<br>Another record-high order backlog reassures on near-term sales
5/11/2023 7:07:04 AM - MT Højgaard Holding: Strong order intake; Greenland drag on earnings; Guidance maintained - ABG - Sales and earnings lower than expected<br>Earnings hit by underperforming contracts in Greenland<br>Strong order intake pushed order book to anothe record high
5/8/2023 2:54:28 PM - MT Højgaard Holding: Large order and modest comparison base - ABG - 2023e sales and EBIT lowered by 1% due to phasing of orders<br>Strong order intake; Sales growth boosted by low comps<br>Focus on operating environment, potential cancellations, etc.
3/16/2023 9:08:12 AM - MT Højgaard Holding: Model update to reflect recent orders - ABG - 2023e order book forecast increased by 4%<br>2023e-24e revenue, EBIT (before s.i.) raised by 1-3%<br>Fair value range of DKK 116 – 228
3/3/2023 6:25:12 AM - MT Højgaard Holding: Wins record PPP order. Boosts record order book - ABG - Receives record DKK +2bn PPP order.<br>Boosts an already high order book<br>Another quality stamp for MTHH
2/24/2023 7:13:51 AM - MT Højgaard Holding: Turnaround completed. Focus on profitability - ABG - Raising estimates by 7-21%.<br>Raised order intake, sales and earnings<br>New strategy, as expected. Taking MTHH to a higher level
2/23/2023 8:46:44 AM - MT Højgaard Holding:- Strong order intake and guidance for 2023 - ABG - Good Q4 despite one-off'sStrong order intake. Order book in-lineGuidance 5 -16% above our expectationsGoodwill write down of DKK 44m in InternationalMTH Holding provded pre-liminary headline FY22 results alongside its 22 December company announcement regarding the sales process for its troubles ScandByg division. Realized Q4 sales came in at DKK 2,344m (+10%), 1% above our forecast while EBIT of DKK 72m was marginally (7%) below our forecast. This was despite a DKK 44m goodwill write-down in its International Division relating to non inflation-indexed contracts. As such, the underlying performance in Q4 (after adjusting for ScandiByg which has been classified as discontinued operations) was actually better than expected. Furthermore, the Q4 order intake of DKK 3,513m was better than our DKK 2,901m forecast, while the order backlog for the year ended on a record high note in-line with our DKK 14bn forecast. In addition, the company has DKK 1.4m in non-booked orders and collaborations valued at up to DKK 5.5bnStrong guidance encouraing guidanceParticularly positive, however, was the guidance for 2023. MTHH expects revenues between DKK 9 - 9.5bn which is 5% higher than our DKK 8.8bn estimate while EBIT (before special items) is expected between DKK 300 - 325m with a midpoint that is 16% higher than our DKK 270m forecast.Updated strategy with focus on qualityAs speculated in our preview, the company announces an updated strategy extending to 2025. While the previous strategy had a strong turn-around focus, the new strategy is more directional in nature and focuses on improving the overall quality of the company across all dimensions. From a financial point of view, the focusing is on improving the quality of investment decisions and the return on capital employed. MTH Holding deviation tableSource: ABG Sundal CollierLäs mer på ABG Sundal Collier
2/10/2023 6:29:28 AM - MT Højgaard Holding: Guidance in focus - ABG - Q4'22 numbers were pre-announced in December<br>2023 marks the end of the Sustainable '22 strategy<br>Getting ready for the 'next phase'?
12/29/2022 7:20:56 AM - MT Højgaard Holding: Finally decides to divest Scandi Byg - MTHH has decided to initiate a sales process for Scandi Byg
12/22/2022 2:01:37 PM - MT Højgaard Holding: Finally decides to divest Scandi Byg - ABG - MTHH has decided to initiate a sales process for Scandi BygMarket has increasingly been questioning its fit within MTHHToday's announcement should therefore be well receivedInteresting profile but volatile performance has been a dragMT Højgaard Holding (MTHH) has today announced that the company's board of directors has decided to initiate a sales process for Scandi Byg. Scandi Byg was acquired by MTHH's predecessor company Højgaard &amp; Schultz back in 1984 and has a long-standing legacy within MTTH. While having an interesting strategic profile as a front-runner within sustainable, modular wood-based buildings, Scandi Byg's financial development during the past 7-8 has been volatile (see chart) below and despite comprising only ~5% of group sales, the volatile performance has during the past many quarters been a drag on the otherwise healthy performance of the group. This has also prompted the market (investors, analysts, etc.) to question whether Scandi Byg continues to be a right fit for MTHH. As such today's announcement should be interpreted positively by the market.Scandi Byg reported sales and EBIT marginSource: Scandi BygClassified as discontinued ops. Financial guidance raisedMTTH informs in todays release that Scandi Byg will be classified as discontinued operations and therefore no longer be included in MTHH's FY22 financial guidance. This has a positive impact on EBIT (before special items) outlook which is raised to DKK 260m from previously DKK 215-240m and furthermore MTHH maintains its FY22 sales guidance of DKK ~8.5bn despite now excluding Scandi Byg expected revenues of approximately DKK 335m.Läs mer på ABG Sundal Collier
12/5/2022 7:22:12 AM - MT Højgaard Holding: Novo order: likely above-average profitability - ABG - MTH shares (50/50) DKK 1.2bn prod. facility order from NovoLikely has above-average profitability......But also higher penalties if timelines are missedHybrid contract structureOn Friday MTH Holding announced that MTH Danmark has, in collaboration with Kemp &amp; Lauritzen (a Danish technical installation company), entered into a contract with Novo Nordisk for the construction and expansion of production facility buildings at its Bagsværd headquarter. The contract, a 50/50 collaboration with K&amp;L, will not be booked as a joint venture but will have normal P&amp;L impact during the execution of the contract (from now until H2'24).Above-average profitabilityWe believe that this contract, given the client, is likely to have above-average profitability but will also be associated with higher penalties if timelines are not met. This contract is not included in our current forecasts but will only have an insignificant P&amp;L impact in Q4'22, we expect.Läs mer på ABG Sundal Collier
11/17/2022 1:26:15 PM - MT Højgaard Holding: MTHH’s ScandiByg announces staff cuts - ABG - ScandiByg considers laying off up to 60 employees<br>Cites challenging conditions and lack of orders<br>Follows several Q’s of negative earnings and new CEO
11/16/2022 6:52:12 AM - MT Højgaard Holding: Impressions from meetings with management - ABG - Guidance particularly dependent on project sales in Q4<br>ScandiByg should be in the black during 2023<br>Focus on executing on record high order book
11/10/2022 3:42:57 PM - MT Højgaard Holding: Focus on execution - ABG - We revise our ’22e-’24e sales forecasts by 0 to +2%...<br>…and EBITDA by -3 to 3%<br>Positive revisions to orders and backlog
11/10/2022 9:28:31 AM - MT Højgaard Holding: Mixed Q3 but orderbook remains firm - ABG - Sales up 24%, EBIT down 29%<br>Sales, EBIT 6% and 26% lower than our expectations<br>Guidance maintained
11/8/2022 6:16:35 AM - MT Højgaard Holding: Strong order intake, market in focus - ABG - We expect order intake of DKK 3.2bn excluding JVs<br>Sales of DKK 2,356m and EBIT (adj.) of DKK 59m<br>Conference call at 10:00am (CET)
9/21/2022 10:54:52 AM - MT Højgaard Holding: ABGSC’s DK small/mid-cap Seminar feedback - ABG - CEO and CFO presented at our Seminar today
8/31/2022 7:32:29 AM - MT Højgaard Holding - Impressions from roadshow meeting - ABG - Confident management team
8/25/2022 6:11:57 PM - MT Højgaard Holding: Stronger order book in a tougher environment - ABG - Forecasts for 2023-24e lowered by ~1% Record order book, partnerships have lowered risk Fair value adjusted to DKK 120-250 (125-255)
8/25/2022 7:58:48 AM - MT Højgaard Holding: Strong order intake but delays cut outlook - ABG - Surprisingly strong order intake at E&amp;P and MTH DK Order book increase to DKK 12bn bodes well for future Delays at Scandi Byg contribute to EBIT downgrade
8/23/2022 5:59:00 AM - MT Højgaard Holding: A weakish quarter in a strong year - ABG - Unchanged estimates ahead of Q2’22
5/16/2022 5:41:34 AM - MT Højgaard Holding: FY’22 guidance reiterated - ABG - Q1 shows continued growth and improved EBIT margin<br> Order intake of ~DKK 2bn in Q1, no cancelled orders… <br> …and a diversified order backlog, provides comfort
5/12/2022 8:06:45 AM - MT Højgaard Holding - FY’22 guidance reiterated - ABG - Q1’22 revenues up 25% (ABGSCe 33%) Strong order intake, despite volatile environment Diversified order backlog provide comfort Continued EBIT improvements in Q1 Q1 saw revenues of DKK 1888m (-8% vs. ABGSCe at DKK 2063m), gross profit of DKK 127m (-28% vs. ABGSCe at DKK 177m), EBIT (b.s.i) of DKK 31m (-54% vs. ABGSCe at DKK 68m) and order intakes of DKK 1923m (-7% vs. ABGSCe at DKK 2063m). The performance in Q1 shows a continued progress in improved sales and EBIT margin, which is up 0.6pp y-o-y, reaching 1.6%. FY’22 guidance reiterated FY’22 guidance is reiterated at revenues of DKK 8.0-8.2bn (ABGSCe 8.094) and EBIT (b.s.i) of DKK 250-275m (ABGSCe 256m). This is with the note that the negative pressure seen from external price increases and supply disruptions is increasing. However, we note that the company are continuing to deliver on, ongoing projects and are seeing solid order intakes as well. Volatile macro environment increases uncertainties With the ongoing risk associated with the volatility seen from the macro environment, we find comfort in the fact that MTHH has a diversified backlog, no cancelled orders as of yet and a solid pipeline of new orders to be won throughout the year. Läs mer på ABG Sundal Collier
5/6/2022 5:54:16 AM - MT Højgaard Holding: Strong orderbook going into Q1 - ABG - Q1 should be similar to Q4, with strong growth<br> Short-term risks driven by external environment...<br> …are somewhat mitigated by a strong orderbook
3/9/2022 11:24:23 AM - MT Højgaard Holding: Feedback from ABGSC Investor Day - ABG - No direct Russia/Ukraine exposure<br> Strong order intake trend, expected to continue<br> Company is well positioned heading into new strategy
2/23/2022 6:50:41 AM - MT Højgaard Holding: Profitable growth on the horizon - ABG - Strong finish to FY’21 – Q4 sales beat ABGSCe by 10%<br> FY’22 guidance updated – sales up, EBIT down<br> Orderbook supports a solid final year of current strategy
2/22/2022 7:58:20 AM - MT Højgaard Holding: Growth across the line in Q4 - ABG - Q4’21 revenue 10% higher than ABGSCe <br> FY’22 guidance updated – Revenue up, EBIT down<br> Orderbook up 34% y-o-y – stands at DKK 10.8bn
1/12/2022 6:57:30 AM - MT Højgaard Holding: Power of visibility cannot be underestimated - ABG - Q4’21 on track to be another strong quarter… …and ending ‘21e with a ~DKK 22bn order backlog Guidance set for ’21-‘22, we maintain FVR
11/15/2021 6:54:25 AM - MT Højgaard Holding: Strong backlog and visibility into next year - ABG - Sales, EBIT and orders -4%, -2%, +10% vs. ABGSCe<br>Seeing strong margin pick-up and YE DKK 10bn backlog<br>Overall an in-line quarter, we narrow FVR slightly
11/12/2021 8:15:59 AM - MT Højgaard Holding: Going ahead as planned - ABG - In-line EBIT with a strong order intake in Q3<br>Now DKK 10.7bn in order backlog + DKK 4.2m incoming<br>Reiterating guidance, limited reaction expected
11/1/2021 8:59:38 AM - MT Højgaard Holding: Facing some busy years ahead - ABG - Phasing of high order intake results in margin dilution<br>One large order in Q3 with solid margin pick-up in H2’21e<br>Fair value range lowered to DKK 150-280 (165-290)
10/14/2021 5:47:19 AM - MT Højgaard Holding: A surprise upgrade for ’21 and guidance for ‘22 - ABG - Increasing EBIT guidance by 16% for ‘21e<br>Guides sales of DKK 8bn and 3.5% EBIT margin for ‘22e<br>High visibility in cyclical company gives comfort
9/15/2021 5:59:25 AM - MT Højgaard Holding: ABGSC’s Investor day seminar feedback - ABG - Guidance for ‘21 includes pickup in H2, but looks doable<br>Next step for MTHH is to focus on balancing projects<br>CFO confirms a strong pipeline for the next 10+ years
9/13/2021 9:10:59 AM - ABGSC Investor Day sänder live - Tisdag den 14:e september kl.08:30-17:30 sänder ABGSC live från sin Investor Day där en mängd intressanta bolag presenterar.
8/30/2021 5:48:26 AM - MT Højgaard Holding: Successful turnaround now halfway through - ABG - Write-downs (~DKK 22m) overshadow a great Q2<br>We expect a high ~4% adj. EBIT margin for H2’21<br>No changes to ’22-‘23e; ~4% ’22e EBIT margin remains
7/7/2021 7:59:14 AM - MT Højgaard Holding: The future depends on actions taken now - ABG - Strong Q2’21e order intake of DKK 3.5bn<br>Underlying momentum for new orders continues<br>We reiterate our FVR of DKK 170-290/share