Read the latest Roblon One-pager update following the Q1 2024/25 results. The One-pager includes a brief description of Roblon, an update to the high-performance cable component industry outlook, latest financials, valuation perspectives relative to a peer group, and outlines several key investment risks and key investment reasons.

The latest SKAKO one-pager following the FY2024 results looks at the outlook for 2025 and 2026, following SKAKO's record order for DKK 150m during the year. The one-pager also updates the investment case, key investment reasons, key investment risks, and valuation perspectives against its peer group.

Efter at alle banker i vores peer group af mindre og mellemstore danske børsnoterede pengeinstitutter har aflagt årsregnskab for 2024 har vi opdateret vores one-pager på GrønlandsBANKEN.

Read the latest North Media One-pager, which includes a brief description of North Media, an update on the company's development in FY2024, the latest financials, valuation perspectives relative to a peer group, and several key investment risks and key investment reasons.

The growth strategy, based especially on scaling the energy storage business, has progressed recently through a strong order intake.

We believe that the headwinds to gross margins, including price investments, increased markdowns, and negative impacts from external factors, have been stronger than earlier anticipated in H&M’s Q1 (Dec-Feb). As a result, we have lowered our earnings estimates. However, we still see earnings growth and dividends offering a good expected return, which, coupled with the declining valuation since our last research update (share price -9%), keeps the risk/reward ratio on the right side. Consequently, we reiterate our Accumulate recommendation but lower our target price to SEK 150 per share (prev. SEK 160) due to lower estimates.

Read the latest Asetek One-Pager following the FY2024 results and the recent rights issue. Asetek faced continued volatility in 2024, with solid growth in SimSports (+34%), while Liquid Cooling struggled due to increased competition, a major customer insolvency, and weaker demand. A rights issue completed in December 2024 raised gross proceeds of DKK 88m, primarily to finance investment and scale-up of SimSports activities as Asetek works towards its mid-term ambitions for SimSports revenues of USD +50m with positive (single-digit) EBITDA margins, and liquid cooling revenues of around USD 50m with >25% adj. EBITDA margins. For 2025 Asetek targets revenues of USD 52-58m (-1% to +10% y/y) with 3-5% adj EBITDA margins, with ongoing growth and margin improvement in SimSports and stabilization within liquid cooling. Discover more about Asetek’s market position, financial outlook, and investment case in the full one-pager.

In connection with Rovsing’s capital raise and latest development in the share price, we have updated our investment case one-pager. Get insights into the investment case supporting major space companies, key reasons to invest and key risk to consider, as well how Rovsing is valued against other small and midcap space companies.

Based on KH Group's preliminary data, Indoor Group's Q4 figures were weaker than we expected, but other businesses performed convincingly despite a challenging business environment.

Gubra (One-pager): From Biotech to Techbio

Efter at alle banker i vores peer group af mindre og mellemstore danske børsnoterede pengeinstitutter har aflagt årsregnskab for 2024 har vi opdateret vores one-pager på Føroya Banki.

Yesterday, Columbus released its 2024 results, which were in line with the company's preliminary results announced in January. In 2024, the company grew its revenue by 8% (7% organically), and the EBITDA margin improved to 9.2%. The outlook for 2025 is organic revenue growth in the range of 7-9% and EBITDA margin in the range of 10-12%. We have updated our investment case one-pager with the recent news, including an updated overview of the peer group of Nordic-listed IT services and consultancy companies.

Teleste's operational turnaround progressed well towards the end of the year, and the market situation in Europe does not seem to be deteriorating further.

Yesterday, Impero announced its annual report for 2024 in line with its preliminary results and recent guidance. With ARR growth of 28% YoY in 2024 and continued momentum in the DACH region, as well as improved cash burn to net new ARR ratio, Impero is well-positioned to continue its growth in 2025 with expectations of 19-34% ARR growth. We have updated the investment case one-pager following the new results and expectations.

Efter at alle banker i vores peer group af mindre og mellemstore danske børsnoterede pengeinstitutter har aflagt årsregnskab for 2024 har vi opdateret vores one-pager på Skjern Bank.

Read the latest NTG One-pager following the FY2024 results as the company is growing market share amid weaker markets. While economic conditions continue to challenge the freight forwarding sector, NTG has announced five acquisitions since Q3 2024, with the acquired companies generating combined revenues of DKK 1.9bn and EBIT of DKK 160m for the year 2023. The company also maintains its financial ambitions for an Adj. EBIT of DKK 1.0bn by FY2027 (28% CAGR from mid-point 2025 guidance) seeing continued ability to make strategic acquisitions in a fragmented market.

Orthex's Q4 report was stronger than expected, helped by Nordic sales. However, longer-term value creation is heavily dependent on export market growth, which has recently stalled due to challenges with distribution partners.