contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    createdAt
    ... on Video {
      liveTime
      tags {
        viewerIsFollowing
        id
      }
    }
    ... on Webcast {
      liveTime
      tags {
        viewerIsFollowing
        id
      }
    }
    slug
    ... on CompanyReport {
      tags {
        viewerIsFollowing
        id
      }
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


nordic-waterproofing-beating-a-billion-and-our-expectations-abg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Nordic Waterproofing Holding

Q2 resultsSales came in at SEK 1,067m (+5% vs. ABGSCe 1,016m), +12% y-o-y of which 8% was organic (ABGSCe +3%). EBIT increased 18% y-o-y to SEK 160m (+13% vs. ABGSCe 142m), for a margin of 15...

Q2 results Sales came in at SEK 1,067m (+5% vs. ABGSCe 1,016m), +12% y-o-y of which 8% was organic (ABGSCe +3%). EBIT increased 18% y-o-y to SEK 160m (+13% vs. ABGSCe 142m), for a margin of 15.0% (ABGSCe 14.0%, 14.4% in Q2’20). Keep in mind that NWG has extremely tough comps, and still manages to grow organically and expand margins. Products &amp; Solutions is once again delivering an impressive result, coming in 11% better on sales and 33% better on EBIT. On the other hand, Installation services had a weak quarter, coming in 10% below on sales and 60% below on EBIT. All markets contributed to the beat, except for Finland, which continues to be weak. NWG mentions that input costs have increased at a high rate, but it has been successful in transferring costs to customers. In terms of outlook, NWG mentions risk of margin compression in H2 if input costs accelerate. However, NWG are generally cautious and we won’t read much into it at this time. Outlook and estimate changes Based on the Q2 report alone, we believe preliminary estimate revisions could amount c. +5% revisions on EBIT. However, we expect that the results could be extrapolated to c. 6-7% to account for the strength in prefab elements, which previously have been a drag on margins. NWG mentions that the order books in prefab are fully booked for 2021. Final thoughts On our pre-Q2 estimates, NWG is trading at 13x ‘22e EBITA and c. 6% lease adj. FCF yields.