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DnB NOR Markets Norsk fiskeri sett fra børsen. Saturday, August 16, 2014. NOK 8,745 million. Private Placements Year 2006. Joint Lead. TRACK RECORD AND CAPABILITIES. BROAD PLACING POWER AND DISTRIBUTION…. Extensive placing power in the Norwegian equity market #1 on Oslo Børs - PowerPoint PPT Presentation
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DnB NOR Markets Norsk fiskeri sett fra børsen
Saturday, April 22, 2023
2
BROAD PLACING POWER AND DISTRIBUTION…
• Extensive placing power in the Norwegian equity market • #1 on Oslo Børs
• Covers the majority of all the largest institutional and private investors• Nordic, European and US institutions• Strong relations to an extensive
number of large and small institutions
• A broad distribution network• Norway's largest institutional sales
force• Retail sales through 13 regional offices
and more than 35,000 clients • Norway's leading private bank • 170 DnB NOR branches
Source: Oslo Børs
TRACK RECORD AND CAPABILITIES
Dedicated equity sales force towards international institutions
Access to Norway's largest client customer base
18 institutional and 37 retail equity brokers
Equity trading on Internet – 40,000 Online clients
Joint Lead
Private Placements
Year 2006
NOK 8,745 million
Source: Reuters First
Market share selected seafood
0.0 %
5.0 %
10.0 %
15.0 %
20.0 %
25.0 %
MarineHarvest
SalMar AustevollSeafood
Copeinca AkerSeafoods
trades value
3
INTERNATIONAL PRESENCE
INVESTMENT BANKING FOLLOWS CORPORATE BANKING AND CLIENTS Oslo
27 corporate finance professionals
19 research analysts Norway's largest
institutional sales desk Full backing from DnB
NOR Group
Singapore 4 corporate finance
professionals Analyst team
established in 2008 Backing from 15
shipping & energy corporate bankers covering the Asian market
New York/Houston 7 corporate finance
professionals Equity sales team
established in 2008 Backing from 20
shipping & energy corporate bankers covering the American market
DnB NOR Markets corporate finance
DnB NOR Bank – shipping, offshore & energy divisions
DNB NORD joint venture
London 2 corporate finance
professionals Backing from 20
shipping & energy corporate/relationship bankers
INVESTMENT BANKING DIVISION
Santiago Establish DnB NOR
Branch with seafood desk and available corporate finance professionals
4
Joint Lead
Private Placement and IPO
Year 2006
NOK 780 m
Lead
Equity Offering and IPO
Year 2006
NOK 120 m
Lead
Private Placements
Year 2006
NOK 75 m
Advisor
M&A
Year 2006
EUR 1,325 m
Joint Lead
Private Placement
Year 2006
NOK 2,600 m
Joint Lead
Private Placement
Year 2006
NOK 5,450 m
Joint Lead
Private Placement
Year 2006
NOK 700 m
Lead
Block Trade
Year 2005
NOK 564 m
Lead
M&A
Year 2005
Lead
M&A
Year 2005
Lead
M&A
Year 2005
Advisor
M&A
Year 2006
NOK 4,000 m
PROVEN TRACK RECORD IN MANAGING SEAFOOD TRANSACTIONS
SELECTED PROJECTS
Executed the successful sale of PHARMAQ in an challenging financial environment in 2008
Lead manager in one of the largest equity offerings ever executed in Norway
Lead manager for Pan Fish in the acquisition of Marine Harvest and Fjord Seafood
Joint lead manager in IPO of Austevoll Seafood
Lead manager in Private Placements and IPO of Codfarmers
Financial Adviser
Sale of
PHARMAQ AS to Orkla/Kverva
Year 2008
Joint Lead
NOK 453 m
Equity Offering and IPO
Year 2005
Lead
M & A
Year 2007
5
Sjømat på Oslo Børs
Det å være på Oslo Børs er ikke noen stor forskjell fra det å handle gjennom for eksempel Norges sildesalgslag
Men, utenfor børs kan du skryte av alt du eier
På børs vil kona vite nøyaktig hva du er verd hver dag
6
Sjømat selskaper notert på Oslo Børs
Einvik Fisk
Sea Farm AS
Norway Seafoods
Pan Fish
Domstein
Fjord Seafood
Cermaq
Lerøy
Pan Pelagic
Aker Seafoods
Austevoll Seafoods
Marine Farms
Marine Harvest
Codfarmers
Grieg Seafoods
Copeinca
Lighthouse
Aker Biomarine
SalMar
Norway Pelagic
Akva Group
1980- 2000 2009
7
15 selskaper med en verdi på 19 mrd
Laks
Selskap Foretnings - område
Markeds -verdi
Andel i sjømat
Laks
Laks
Laks
Laks
Laks/Sea-bream/bass
Hvitfisk
Torsk
Pelagisk/ Hvitfisk
Pelagisk
Pelagisk, Laks
5.4 mrd
2.4 mrd
2.4 mrd
0.6 mrd
0.2 mrd
0.4 mrd
0.3 mrd
0.1 mrd
0.1 mrd
2.8 mrd
2.3 mrd
29%
12%
13%
4%
2%
1%
2%
1%
0%
15%
12%
Pelagisk 0.4 mrd 2%
8
Eksempler innenfor noen næringer dere kjenner
6.00 0.05 0.84%AKS&OS.Last
01.02.200901.08.200801.02.200801.08.200701.02.200701.08.200601.02.2006
50
45
40
35
30
25
20
15
10
5
12.00 -0.20 -1.64%AUSS&OS.Last
01.02.200901.08.200801.02.200801.08.200701.02.200701.08.2006
55
50
45
40
35
30
25
20
15
10
9
Eksempler innenfor noen næringer dere kjenner
28.50 -0*40 -1*40%NPEL&OS.Last
01.02.200901.01.200901.12.200801.11.200801.10.200801.09.200801.08.200801.07.2008
41
40
39
38
37
36
35
34
33
32
31
30
29
28
27
26
25
10
Seafood vs. OSEBX
Seafood vs. OSEBX
0
20
40
60
80
100
120
140
160
180
03.0
3.2
006
03.0
5.2
006
03.0
7.2
006
03.0
9.2
006
03.1
1.2
006
03.0
1.2
007
03.0
3.2
007
03.0
5.2
007
03.0
7.2
007
03.0
9.2
007
03.1
1.2
007
03.0
1.2
008
03.0
3.2
008
03.0
5.2
008
03.0
7.2
008
03.0
9.2
008
03.1
1.2
008
03.0
1.2
009
Seafood Index OSEBX
11
Hele sektoren blir dratt opp og ned
-100.0%
-50.0%
0.0%
50.0%
100.0%
150.0%
200.0%
% Change 2006 % Change 2007 % Change 2008 % Change YTD
Marine Harvest ASA Cermaq Asa Leroy Seafood Group
SalMar ASA Marine Farms AS Grieg Seafood ASA
Lighthouse Caledonia ASA Austevoll Seafood ASA Copeinca ASA
Aker Seafoods Asa Codfarmers ASA Akva Group Asa
Aker BioMarine ASA Domstein ASA
12
Et grusomt år på Oslo Børs for investorene
Markedsverdien for 1 år siden var = 40.5 mrd
Nå er verdien av de 15 selskapene = 19 mrd
Et stygt fall på 22 mrd eller 54%
13
Pris/kost for laks fra Norge
16.0
21.0
26.0
31.0
36.0
41.0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08E09E
NO
K/k
g
Production cost gwt (FOB) FHL - Price
14
Innen hvitfisk næringen
• Men med kvoter opp 25%
• Betydelig fall i bunkers kostnader
• Overraskende positiv valutasituasjon
Så er det vel ikke helt gale å være fisker i 2009 heller!!
Kreditt og marked er utfordringene
15
Mer stabilt innen fiskemel globalt, men ingen fest
Fishmeal
900
1000
1100
1200
1300
1400
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52
US
D/t
on
n (
64/6
5% c
&f
Ham
bu
rg)
2007 2008 2009
700
900
1100
1300
1500
1700
1900
1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52
Og kvotene av kolmule er vel heller ikke noe å rope hurra for?
16
Her er det fest?
• Veldig gode priser
• Betydelig økning i kvoter
• Betydelig fall i bunkers
Kan vel ikke klage så alt for mye innen denne delen av sjømat sektoren
17
Verdiutvikling pr. basistonn
Pris per basistonn
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Pris per basistonn
18
Utsiktene på lang sikt er gode og spennende: Vi vil spise mer og mer sjømat
0
20
40
60
80
100
120
140
160
180
200
220
1970
1973
1976
1979
1982
1985
1988
1991
1994
1997
2000
2003
2006
E
2009
E
2012
E
2015
E
2018
E
2021
E
2024
E
'000.0
00 T
onnes
8
9
10
11
12
13
14
15
16
17
18
1975
1977
1979
1981
1983
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2005
Kg
19
Utsiktene i Norge – kunne blitt julaften hver dag
En fantastisk biomasse situasjon pga bl.a. god forvaltning
• Sild, Makrell og Lodde
• Torsk, Sei og Hyse
Betydelig fall i bunkers og en gunstig valuta så er forutsetningene på plass for en fest
Litt synd at myndighetene påtvinger inneffektivitet i næringen gjennom for mye stål. Om ikke, så hadde det vært julaften hver dag i 2009 og 2010.
20
Appendix:
21
A FIRST CLASS INVESTMENT BANK WITH FULL ACCESS TO THE RESOURCES IN THE DnB NOR GROUP
DnB NOR MarketsNorway's largest investment bank
Account forInvestors
and issuers(VPS)
Equitytrading,
derivatives &research
Corporate Finance
Bonds,commercialpapers andsyndication
loans
FX and interest rateinstruments
Custody services &
equityfinancing
Top 3 market share on Oslo Børs
* Market share
Market share% of total income for Norw egian investment banks
DnB NOR Markets
30 %
DnB NORDnB NOR
Private clients Business clients
Asset Management
Offices in Norway, London, New York, Houston, Shanghai and Singapore
20-55% 10-20% 15-20% 20-30% 15-40% 35-50%* * * * **
THE DnB NOR GROUP
Life Insurance
RetailBanking
Corporate Banking
InvestmentBanking
DnB NOR
- The largest Norwegian Bank
Global ambitions within
- Shipping/off-shore
- Seafood
- Energy
22
COMBINING INVESTMENT- AND CORPORATE BANKING
NORWAY'S LARGEST FINANCIAL SERVICES GROUP
Client Management
Credit Services
Syndication
Structured Finance Strategic and Financial Advisory
M&A
Private and Public Equity
Restructuring
Corporate Finance
Equity Trading
Equity Sales
Equity Research Derivates
DnB NOR Markets Online
Securities Services
Equity Sales and Research
Debt Capital Markets
Customers FX/Treasury
Trading FX/Treasury
Structured Products
FX/Fixed Income
DnB NOR provides a wide range of financial products and tailor-made solutions for the global industry
DnB NOR Markets Investment Banking Corporate Banking
Corporate Banking
RetailBanking
Investment Banking
AssetManagement
Life Insurance
DnB NOR
23
DnB NOR MARKETS – SEAFOOD TEAM
Terje SkullerudHead of Corporate Finance
Telephone: +47 22 94 88 52
Mobile: + 47 48 22 56 01
E-mail: [email protected]
Per Even HaugeSenior advisor Seafood
Telephone: +47 22 94 81 27
Mobile: +47 97 13 58 66
E-mail: [email protected]
Karl Johan StandalSenior advisor Seafood
Telephone:+47 22 94 81 24
Mobile: +47 99 25 77 28
E-mail: [email protected]
Corporate Finance
Klaus HatlebrekkeTelephone: +47 22 94 89 65
Mobile: +47 9751 67 57
E-mail: [email protected]
Equity Analysts
DNB NOR MARKETS SEAFOOD SECTOR TEAM
DnB NOR Markets Corporate Finance Oslo
Stranden 21, Aker Brygge
NO-0021 Oslo, Norway
Tel: (+47) 2294 8880Fax: (+47) 2283 2000
DnB NOR Markets, Inc.Corporate Finance New York
200 Park Avenue – 31st FloorNew York, NY 10166
Tel: +1 (212) 681-3800Fax: +1 (212) 681-4121
Internett: www.dnbnormarkets.no
E-mail: [email protected]
24
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