Endúr ASA's Insider Trades, Financial Results, and Strategic Contracts

Endúr ASA (ENDUR:NO), headquartered in Norway, is a prominent Nordic industrial group specializing in marine infrastructure and land-based aquaculture solutions. The company, which was formerly known as Bergen Group ASA, has a market capitalization of NOK 2.167 billion and operates through three key segments: Marine Infrastructure, Aquaculture Solutions, and Other services.

Top Executives Buying

Recent insider trading activities highlight the leadership's confidence in Endúr's future. On July 11, 2024, two key insiders made significant purchases. Pal Reiulf Olsen, Chairman of the Board, acquired 9,000 shares at NOK 55.5 per share, totaling NOK 499,500. Additionally, CFO Einar Olsen bought 4,500 shares at the same price, amounting to NOK 249,750. These transactions mark the first insider buys of 2024, underscoring leadership’s belief in Endúr’s potential and long-term growth.

Strategic Contract Win

Endúr ASA's subsidiary, Repstad Anlegg AS, recently secured a significant NOK 108 million contract to construct ro-ro ramps and extend a quay for Arendal Port. This project, aimed at enhancing the port’s bulk and ro-ro traffic capacity, is set to begin in Q3 2024 and complete by Q2 2025. This contract bolsters Endúr’s marine infrastructure portfolio and demonstrates its capability in handling complex quay constructions.

Q1 2024 Financial Performance

Endúr ASA delivered a strong first-quarter performance in 2024, driven by its Marine Infrastructure segment and improved results from Aquaculture Solutions. Although total revenues were lower due to the completion of Salmon Evolution phase 1 in Q1 2023, Marine Infrastructure revenues increased by 3%. The adjusted EBITDA for Q1 2024 was NOK 67.0 million, up from NOK 62.0 million in Q1 2023, with a margin improvement to 11.6%. Despite an operating result (EBIT) of NOK 12.3 million and a pre-tax loss of NOK 9.2 million, the group maintained robust liquidity with NOK 229 million available. A notable share buy-back program of up to NOK 50 million was also initiated, reflecting confidence in the company’s financial health and future outlook.

Endúr ASA's strategic insider buys, substantial contract win, and strong financial performance underscore its solid position and optimistic growth trajectory in the marine and aquaculture industries.