HedgeFundAlpha: Norsk Titanium Valuation - 3x Upside in 18 month
Hedge Fund Alpha published a valuation based on 2026 guidance and a valuation based on NTI´s long-term targets.
Valuation indicates 3x upside over the next 18 months.
https://fitinvestmentideas.com/2024/05/20/norsk-titanium-valuation-3x-upside-in-18-months/
Valuation indicates 3x upside over the next 18 months.
https://fitinvestmentideas.com/2024/05/20/norsk-titanium-valuation-3x-upside-in-18-months/
NordicGuy
09.10.2024 kl 17:17
1905
NOrsk Titanium among the best ideas from the London Growth Investment Conference:
https://seekingalpha.com/article/4725755?gt=331f44c5f1a593c2
https://seekingalpha.com/article/4725755?gt=331f44c5f1a593c2
WETrader
09.10.2024 kl 19:27
1808
Norsk Titanium (OTCQX:NORSF) ("NTI") is a global pioneer in 3D printing of titanium and other precious metals, mainly for the aviation industry.
Based in the US, listed in Norway
Got over 150 million USD in subsidy from New York state
In total, 450 million of capital and subsidies were invested
Its patented technology consumes 75% less energy, 75% less material and 90% less time.
Aviation certifications took seven years, and investors lost patience
Airbus certification was done this year, and the number of parts produced for Airbus doubles quarterly.
Primary customers are Airbus, Boeing, ASML, Northrop Grumman
At the end of the year 23, NTI was producing 11 parts. By midyear, that number had increased to 26. The most significant part is over 6 feet long.
Very high-growth potential.
If the growth targets are met, there is multiple times upside potential.
Based in the US, listed in Norway
Got over 150 million USD in subsidy from New York state
In total, 450 million of capital and subsidies were invested
Its patented technology consumes 75% less energy, 75% less material and 90% less time.
Aviation certifications took seven years, and investors lost patience
Airbus certification was done this year, and the number of parts produced for Airbus doubles quarterly.
Primary customers are Airbus, Boeing, ASML, Northrop Grumman
At the end of the year 23, NTI was producing 11 parts. By midyear, that number had increased to 26. The most significant part is over 6 feet long.
Very high-growth potential.
If the growth targets are met, there is multiple times upside potential.
NordicGuy
10.10.2024 kl 09:42
1598
Norsk Titanium update today
Plattsburgh New York, October 10, 2024 — Norsk Titanium (Euronext: NTI, OTCQX:
NORSF), a global leader in additive manufacturing for aerospace-grade structural
titanium components using its patented Rapid Plasma Deposition® (RPD®)
technology, announces further expansion of their Rapid Plasma Deposition®
additive process into new markets and customers.
“We continue to execute our market penetration strategy and are building a
significant catalog of production parts that will drive revenue for years to
come,” noted Nicholas Mayer Norsk Titanium Vice President of Commercial.
Building on previous development and qualification efforts, Norsk Titanium
continues to broaden the application of its innovative RPD® process in the
production of near-net-shape titanium parts. With the recent success of efforts
within the defense and space industries, Norsk Titanium now has 33 parts
transitioned from legacy substrative processes into its sustainable, modern,
additive manufacturing process, up from 28 parts at the end of August 2024.
Winning efforts with a US department of defense (DoD) prime contractor has
recently led to transition of multiple components to production. Norsk Titanium
has also made significant progress in the space industry, successfully
transitioning two new parts into serial production. These space-qualified
components, which were traditionally manufactured using legacy processes, are
now being produced using the advanced RPD® technology.
Looking ahead, Norsk Titanium continues to qualify parts for transition into
serial production. The company is also in the process of submitting data for
inclusion into the Metallic Materials Properties Development and Standardization
(MMPDS) handbook, which will enhance RPD®‘s position as a generally accepted
manufacturing standard that customers can leverage for their production needs.
The company will issue an operational and financial update for the third quarter
on 30 October 2024.
Plattsburgh New York, October 10, 2024 — Norsk Titanium (Euronext: NTI, OTCQX:
NORSF), a global leader in additive manufacturing for aerospace-grade structural
titanium components using its patented Rapid Plasma Deposition® (RPD®)
technology, announces further expansion of their Rapid Plasma Deposition®
additive process into new markets and customers.
“We continue to execute our market penetration strategy and are building a
significant catalog of production parts that will drive revenue for years to
come,” noted Nicholas Mayer Norsk Titanium Vice President of Commercial.
Building on previous development and qualification efforts, Norsk Titanium
continues to broaden the application of its innovative RPD® process in the
production of near-net-shape titanium parts. With the recent success of efforts
within the defense and space industries, Norsk Titanium now has 33 parts
transitioned from legacy substrative processes into its sustainable, modern,
additive manufacturing process, up from 28 parts at the end of August 2024.
Winning efforts with a US department of defense (DoD) prime contractor has
recently led to transition of multiple components to production. Norsk Titanium
has also made significant progress in the space industry, successfully
transitioning two new parts into serial production. These space-qualified
components, which were traditionally manufactured using legacy processes, are
now being produced using the advanced RPD® technology.
Looking ahead, Norsk Titanium continues to qualify parts for transition into
serial production. The company is also in the process of submitting data for
inclusion into the Metallic Materials Properties Development and Standardization
(MMPDS) handbook, which will enhance RPD®‘s position as a generally accepted
manufacturing standard that customers can leverage for their production needs.
The company will issue an operational and financial update for the third quarter
on 30 October 2024.
NordicGuy
16.10.2024 kl 15:15
1402
NordicGuy
17.10.2024 kl 10:41
1172
NordicGuy
18.10.2024 kl 11:35
1033
Morning note from my broker:
The morning mail has been absent for a few days because the editorial team has been on a study trip to remote areas of the country, requiring early starts on the road. The first stop was in the middle of nowhere outside Hønefoss, where we visited Norsk Titanium. There, someone has developed a 3D printer that, in a Professor Baltazar-like manner, melts a thread of alloyed titanium into parts that are now used as load-bearing elements in aircraft from Boeing and Airbus. The finished component doesn't come out directly; instead, a semi-finished part emerges, which needs to be polished and milled into the final product. This is done by NTI’s customers. Milling titanium requires powerful machines because, although the metal weighs only half as much, it is as hard as steel. The advantage of 3D printing a semi-finished part first is that it saves time and material waste compared to the current technique of milling parts from a large block of titanium. By using NTI’s technique, the metal in the component is recreated to the same strength and structure as if it were a single piece of metal. This cannot be achieved using powder, which some of you may have encountered in other stocks. It is not possible to recreate the atomic structure in the same way with powder, as it introduces more "air" into the metal, making it less strong. As a result, it cannot be used in aircraft components or in parts NTI also makes for ASML’s machines, which manufacture the most advanced semiconductors. A "plate" NTI makes for ASML is subjected to 32 Gs. When Tom Cruise goes full throttle in his F18 in Top Gun, he experiences 9G. Norsk Titanium has a machine in Hønefoss and a factory in the USA. This year, they are generating $10m in revenue, with a run rate of about $50m, and they break even at $80m. Their capacity is much higher with the current equipment. We believe this company is still just at the starting line. The task now is to fill the machines with jobs. They’ve succeeded in being qualified as a supplier to the most demanding customers you can imagine. It’s like securing a contract with Manchester City or Real Madrid—just getting there is an achievement in itself. The next step is to deliver and secure a spot on the team. We will be following Norsk Titanium closely.
The morning mail has been absent for a few days because the editorial team has been on a study trip to remote areas of the country, requiring early starts on the road. The first stop was in the middle of nowhere outside Hønefoss, where we visited Norsk Titanium. There, someone has developed a 3D printer that, in a Professor Baltazar-like manner, melts a thread of alloyed titanium into parts that are now used as load-bearing elements in aircraft from Boeing and Airbus. The finished component doesn't come out directly; instead, a semi-finished part emerges, which needs to be polished and milled into the final product. This is done by NTI’s customers. Milling titanium requires powerful machines because, although the metal weighs only half as much, it is as hard as steel. The advantage of 3D printing a semi-finished part first is that it saves time and material waste compared to the current technique of milling parts from a large block of titanium. By using NTI’s technique, the metal in the component is recreated to the same strength and structure as if it were a single piece of metal. This cannot be achieved using powder, which some of you may have encountered in other stocks. It is not possible to recreate the atomic structure in the same way with powder, as it introduces more "air" into the metal, making it less strong. As a result, it cannot be used in aircraft components or in parts NTI also makes for ASML’s machines, which manufacture the most advanced semiconductors. A "plate" NTI makes for ASML is subjected to 32 Gs. When Tom Cruise goes full throttle in his F18 in Top Gun, he experiences 9G. Norsk Titanium has a machine in Hønefoss and a factory in the USA. This year, they are generating $10m in revenue, with a run rate of about $50m, and they break even at $80m. Their capacity is much higher with the current equipment. We believe this company is still just at the starting line. The task now is to fill the machines with jobs. They’ve succeeded in being qualified as a supplier to the most demanding customers you can imagine. It’s like securing a contract with Manchester City or Real Madrid—just getting there is an achievement in itself. The next step is to deliver and secure a spot on the team. We will be following Norsk Titanium closely.
NordicGuy
31.10.2024 kl 09:27
668
Arctic research today - best qotes:
Norsk Titanium AS
Despite delays, significant potential remains
Since no business has been lost, only delayed, we keep our TP of NOK 3.5/sh unchanged. We see the delays in commercial aerospace as a temporary issue, while the growing momentum in defense is a positive development. We reiterate our Buy recommendation, as we still believe the current ~30% implied probability of meeting its revenue targets as too low. Our TP of NOK 3.5/sh reflects a 48% probability that the company achieves USD 150m in sales by 2026.
Slow development commercial aerospace
Short-term market challenges in aerospace have delayed the transition to high-value parts and reduced production rates of parts already transitioned. This resulted in a revised 2024 revenue guidance of USD 6m (previous USD 10-12m).
Boeing’s problems include the Boeing 737 Max door plug issue and the ongoing union strike and have resulted in virtually halted production.
Airbus has been impacted by supply chain problems, resulting in a lowered near-term production forecast. We believe the ramp-up can be pushed to H2/25, which has resulted in lower estimates. We have revised our 2026 revenue estimate to USD 105m, down from previously USD 118m and below the company guidance of USD 150m.
Positive development in defence
Momentum is building as Norsk Titanium now has 54 parts in serial production, achieving an ARR of USD 12.2m, a solid increase of 28 parts since H1/24. Impressively, most of these new parts come from top-tier US DoD prime contractors, underscoring NTI’s deepening relationships in high-stakes sectors. While these additions are currently low-volume, they reinforce NTI’s traction in another industry with high barriers to entry. As we have little visibility on when the problems in the aerospace sector will be resolved, we believe the most important thing going forward is for NTI to show that it can secure high-value parts for serial production.
A bump in the road, but the long-term case is still intact
We initiated coverage of NTI with a BUY recommendation, driven by the company’s unique technology, compelling value proposition for customers, approval from some of the world’s leading aerospace players and a low implied probability of success. We view the Q3 report as a delay to the growth story, rather than a weakening of the long-term case, as parts in serial production are pushed out in time rather than lost. Based on yesterday’s close, the implied probability for the company to reach its 2026 targets is ~30%, which we still find appealing. We keep our TP of NOK 3.5/sh, reflecting a 48% probability that the company achieves USD 150m in sales by 2026.
Norsk Titanium AS
Despite delays, significant potential remains
Since no business has been lost, only delayed, we keep our TP of NOK 3.5/sh unchanged. We see the delays in commercial aerospace as a temporary issue, while the growing momentum in defense is a positive development. We reiterate our Buy recommendation, as we still believe the current ~30% implied probability of meeting its revenue targets as too low. Our TP of NOK 3.5/sh reflects a 48% probability that the company achieves USD 150m in sales by 2026.
Slow development commercial aerospace
Short-term market challenges in aerospace have delayed the transition to high-value parts and reduced production rates of parts already transitioned. This resulted in a revised 2024 revenue guidance of USD 6m (previous USD 10-12m).
Boeing’s problems include the Boeing 737 Max door plug issue and the ongoing union strike and have resulted in virtually halted production.
Airbus has been impacted by supply chain problems, resulting in a lowered near-term production forecast. We believe the ramp-up can be pushed to H2/25, which has resulted in lower estimates. We have revised our 2026 revenue estimate to USD 105m, down from previously USD 118m and below the company guidance of USD 150m.
Positive development in defence
Momentum is building as Norsk Titanium now has 54 parts in serial production, achieving an ARR of USD 12.2m, a solid increase of 28 parts since H1/24. Impressively, most of these new parts come from top-tier US DoD prime contractors, underscoring NTI’s deepening relationships in high-stakes sectors. While these additions are currently low-volume, they reinforce NTI’s traction in another industry with high barriers to entry. As we have little visibility on when the problems in the aerospace sector will be resolved, we believe the most important thing going forward is for NTI to show that it can secure high-value parts for serial production.
A bump in the road, but the long-term case is still intact
We initiated coverage of NTI with a BUY recommendation, driven by the company’s unique technology, compelling value proposition for customers, approval from some of the world’s leading aerospace players and a low implied probability of success. We view the Q3 report as a delay to the growth story, rather than a weakening of the long-term case, as parts in serial production are pushed out in time rather than lost. Based on yesterday’s close, the implied probability for the company to reach its 2026 targets is ~30%, which we still find appealing. We keep our TP of NOK 3.5/sh, reflecting a 48% probability that the company achieves USD 150m in sales by 2026.
NordicGuy
31.10.2024 kl 21:04
535
NordicGuy
I dag kl 09:24
134
Another bullish news today from NOrsk!
Norsk Titanium and Safran Landing Systems Explore Applications for Rapid Plasma Deposition®
12 Nov 2024 07:30 CET
Issuer
Norsk Titanium AS
Plattsburgh New York, November 12, 2024 — Norsk Titanium (Euronext: NTI, OTCQX:
NORSF), a global leader in additive manufacturing for aerospace-grade structural
titanium components using its patented Rapid Plasma Deposition® (RPD®)
technology, announces a collaborative effort with Safran Landing Systems, a
world leader in landing and braking systems, to apply RPD® to landing gear
applications.
Teams from both companies have evaluated the business case for producing Safran
Landing System products with Norsk Titanium’s patented Rapid Plasma Deposition®
(RPD®) additive process.
“We are very pleased with the progress towards manufacturing Safran products
with our process,” said Nicholas Mayer Norsk Titanium Vice President of
Commercial. “Penetrating new markets such as large landing gear structure is a
key part of our long-term plans. Working with a world leader like Safran
Landing Systems shows the maturity of our process, and its applicability to
critical applications,” added Mayer.
About Norsk Titanium
Norsk Titanium is a global leader in metal 3D printing, innovating the future of
metal manufacturing by enabling a paradigm shift to a clean and sustainable
manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®)
technology and installed production capacity to generate annual revenues of
approximately USD 300 million, Norsk Titanium offers cost-efficient 3D printing
of value-added metal parts to a large addressable market. RPD® technology uses
significantly less raw material, energy, and time than traditional
energy-intensive forming methods, presenting customers with an opportunity to
better manage input costs, logistics, and environmental impact. RPD® printed
parts are already flying on commercial aircraft, and Norsk Titanium has gained
significant traction with large defense and industrial customers.
Norsk Titanium and Safran Landing Systems Explore Applications for Rapid Plasma Deposition®
12 Nov 2024 07:30 CET
Issuer
Norsk Titanium AS
Plattsburgh New York, November 12, 2024 — Norsk Titanium (Euronext: NTI, OTCQX:
NORSF), a global leader in additive manufacturing for aerospace-grade structural
titanium components using its patented Rapid Plasma Deposition® (RPD®)
technology, announces a collaborative effort with Safran Landing Systems, a
world leader in landing and braking systems, to apply RPD® to landing gear
applications.
Teams from both companies have evaluated the business case for producing Safran
Landing System products with Norsk Titanium’s patented Rapid Plasma Deposition®
(RPD®) additive process.
“We are very pleased with the progress towards manufacturing Safran products
with our process,” said Nicholas Mayer Norsk Titanium Vice President of
Commercial. “Penetrating new markets such as large landing gear structure is a
key part of our long-term plans. Working with a world leader like Safran
Landing Systems shows the maturity of our process, and its applicability to
critical applications,” added Mayer.
About Norsk Titanium
Norsk Titanium is a global leader in metal 3D printing, innovating the future of
metal manufacturing by enabling a paradigm shift to a clean and sustainable
manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®)
technology and installed production capacity to generate annual revenues of
approximately USD 300 million, Norsk Titanium offers cost-efficient 3D printing
of value-added metal parts to a large addressable market. RPD® technology uses
significantly less raw material, energy, and time than traditional
energy-intensive forming methods, presenting customers with an opportunity to
better manage input costs, logistics, and environmental impact. RPD® printed
parts are already flying on commercial aircraft, and Norsk Titanium has gained
significant traction with large defense and industrial customers.