Indløsninger af ejendomsfonde ser ud til at være højere end forventet, og som følge heraf vil indtjeningsnedgangen i de kommende år blive dybere end tidligere. Selskabets pres for at lykkes med den nye kapitalforvaltningstjeneste er stort på grund af udfordringerne med ejendomsfondene. Hvis udvidelsen af kapitalforvaltningen lykkes, er der et klart potentiale i aktien, men i øjeblikket tynger risiciene tydeligt mere.
Baseret på informationer, der er kommet frem fra Springvests porteføljeselskab Donut Lab (via Verge Motorcycles), er afkastpotentialet for ejerskabet tydeligt højere end vores tidligere vurdering.
Bliv en del af Inderes community
Gå ikke glip af noget - opret en konto og få alle de mulige fordele
Inderes konto
Følgere og notifikationer om fulgte virksomheder
Analytikerkommentarer og anbefalinger
Værktøj til at sammenligne aktier og andre populære værktøjer
Vi har sænket vores estimater for 4. kvartal efter SSH's negative nedjustering, men vores estimater for de kommende år er stort set uændrede, da nedjusteringen skyldes en engangslicenstransaktion.
We have published an updated one-pager on ExpreS2ion Biotech following early immunogenicity data and dose escalation clearance in the Phase I ES2B-C001 breast cancer vaccine, which begins to de-risk near-term development, alongside the completed TO 11 warrant programme. The note also reflects the malaria licensing agreement with Serum Institute of India, which provides platform validation and limited non-dilutive funding, while ES2B-C001 remains the core value driver.
Vi forventer, at Oriola på kapitalmarkedsdagen i foråret vil annoncere planer om at sælge sit ejerskab i Kronans Apotek og styrke selskabets soliditet.
Sitowise announced on Monday that its CEO, Heikki Haasmaa, will leave his position during Q1 and that the search for his successor has begun. The company also changed its CFO last week when Sanna Sormaala took up her new position after being appointed in August. These changes in management do not alter our view. We adjusted our forecasts to include the 40 MEUR goodwill impairment in Sweden announced in December, which also had no impact on our view.
Teleste's share price has decreased by 9% since our post-Q3 earnings update, bringing the share's valuation (2026e adj. P/E 11x) back to a moderate level.
Kreate's growth will accelerate significantly this year as the company grows organically in both Finland and Sweden, supported by a strengthening order backlog. In addition, growth is boosted by the completed SRV Infra acquisition.
Read the latest Roblon one-pager following the latest 2024/25 results, guidance for 2025/26e, and following the divestment of its loss-making U.S. FOC operations.
While we see strategic logic in the Lacon acquisition, we believe the deal's value creation is primarily based on profitably growing Lacon as part of Incap and realizing commercial synergies between the companies, given a neutral valuation at best at the outset.
Read the latest SP Group One-pager following its acquisition of Idé-Pro, which includes a brief description of SP Group, valuation perspectives relative to a peer group, and several key investment risks and investment reasons.
