Added to YB: 2026-05-28
Pitch date: 2026-05-26
HAV.OL [bullish]
HAV Group ASA
-3.48%
current return
Author Info
No bio for this author
Company Info
HAV Group ASA, through its subsidiaries, provides technology and services for maritime and marine industries worldwide.
Market Cap
NOK 533.8M
Pitch Price
NOK 15.80
Price Target
50.00 (+228%)
Dividend
N/A
EV/EBITDA
60.07
P/E
393.25
EV/Sales
0.42
Sector
Machinery
Category
special_situation
HAV Group (HAV.OL) - Potential Multibagger with a Live Catalyst
HAV.OL: Norwegian maritime tech co at <6x FY26e EBIT w/ 200M NOK net cash, 1.1B NOK backlog. Strategic review underway via SB1 Markets (same bank that sold peer SEAM for ~36x EBIT). NES segment (electric propulsion) approaching SEAM revenue levels w/ 10% EBIT margin. Regulatory tailwinds: IMO net-zero 2050, ferry electrification at 15% CAGR to 2030, only 2% of 143k global ships electrified. Sævik family owns 41%, still underwater. NES sale at 20x EBIT = 50 NOK/sh vs 13.50 current. Risks: strategic review yields nothing, project lumpiness, tier-1 competition.
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