Borgestad will release its Q2/25 report on August 21 following a disappointing Q1/25. Headline expectations from our side include operating revenues of NOK 361m, EBITDA of NOK 50m and a net income of NOK 30m. During the quarter, the company did announce the acquisition of Emcotech for SEK 10.5m (a contingent performance-based earn-out of maximum SEK 10m included in transaction as well), with our updated forecast reflecting this. We keep our fair value range of NOK 14.9-25.0 unchanged with a base ....
