Asetek: Moving in the right direction – SEB


While supply chain challenges continue to cast a shadow in the short term, we argue the long-term growth story in Asetek remains attractive. Although we are increasingly convinced by the sales potential of Simsports, we only factor in conservative estimates, for now. Our earnings estimates are up 6-7% for 2022-24 and our DCF valuation range has increased to NOK 49-108 per share.

SEB Research

This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.