We expect NORBIT to report Q2/20 EBITDA of NOK 20m, 49% above latest Factset consensus of NOK 13m. We estimate Y/Y revenue growth of -16%, as all three business segments are negatively impacted by the ongoing Covid-19 outbreak. However, we expect Oceans to show a positive development Q/Q as business activity in Asia is starting to recover. We expect Q2/20 to mark the bottom of the current business cycle for ITS, as we expect truck sales to pick up in H2/20.
07 Jul 2020
About to turn the corner in Q2/20
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About to turn the corner in Q2/20
We expect NORBIT to report Q2/20 EBITDA of NOK 20m, 49% above latest Factset consensus of NOK 13m. We estimate Y/Y revenue growth of -16%, as all three business segments are negatively impacted by the ongoing Covid-19 outbreak. However, we expect Oceans to show a positive development Q/Q as business activity in Asia is starting to recover. We expect Q2/20 to mark the bottom of the current business cycle for ITS, as we expect truck sales to pick up in H2/20.