Notes from recent BQ interview
05.09.2023 BQ interview
- FY23 was disappointing as supplies of certain components weren’t made in time to the shipyard which is why despite them having a good order book, revenues lagged
- Order book: 22’000 cr. (600 cr. ship repair + 21’4000 cr. shipbuilding)
- Received order for 6 ships from Wilson Shipowning (Norway). Expect 8 more vessel orders after completion of this order. This gives them a break into Norwegian markets
- Defense: 48 vessels with total order book of ~16’000 cr. 8 ASW Corvettes (3 close to launch) + Next generation missile vessels (currently in engineering phase). Expected timeline of delivery of 5-7 years
- Not looking at submarine opportunity as its not their strength, focusing on naval defense, European green vessels and ship repair opportunities
Disclosure: Not invested (no transactions in last-30 days)
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