Nekkar’s Q3 results came in soft, though largely in line with expectations, driven by a modest contribution from Syncrolift. Most notably, Syncrolift signed a record newbuild contract of more than NOK 800m that pushes Q4-to-date order intake to nearly NOK 1bn. Following the report, we expect to make mixed estimate revisions across the subsidiaries, while the recent strong order momentum, combined with M&A, supports our positive view of a financial recovery ahead.
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