HKY finds itself in a ramp-up phase, steadily transitioning away from the early headaches it incurred during the company’s initial years. The company has now taken several measures, both on the operational and financial side, to improve the overall profitability and solidity of the investment case, all while finding itself in what we argue is pole position for the upcoming government tender. We expect the company to beat its 2025 guidance of an EBITDA of NOK 400m (ARCe: NOK 422.2m). However, thi ....
