Enersense International: Green energy services make sense - Nordea
We initiate coverage of Enersense, a company operating within renewable energy, a sector with significant and long-term growth potential. In addition to the construction and maintenance services it currently offers, Enersense has expanded its strategy to encompass own wind power production, EV chargers and offshore wind power foundations. Its core strength is its efficient management and execution of development projects. We also believe that it will be able to restore its EBIT margin close to 3% in 2024 after two tough years.
We calculate a fair value range for Enersense of EUR 7.1-8.6 per share. Our valuation approach is based on a DCF model, backed by a peer group comparison. Marketing material commissioned by Enersense.
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