Green Landscaping Group – A non-cyclical serial acquirer capitalizing on a fragmented green market

In this equity report, analysts Alexander Hammarvid and Abdiaziz Musse take a deep-dive into Green Landscaping, a leading Nordic full-service provider in landscaping and maintenance of outdoor environments. The company has, through an aggressive acquisition strategy, consolidated the fragmented Swedish SEK 20.6bn market and outgrown the market growth rate of 4.7%. Our analysts, estimated future [...]

Qbank – An overlooked SaaS company well positioned for profitable growth

In this equity report, analyst Jacob Benon takes a deep-dive into Qbank. Qbank offers a Digital Asset Management software via a SaaS business model, which helps customers organize digital assets such as images or videos. Our analyst, Jacob Benon estimates the company to profitably grow annual recurring revenue from subscriptions by 22,1% (CAGR) between 2019 [...]

Strong winds for Arise ahead

In this equity research report, analyst Olivia Ceplitis takes a deep-dive into Arise Windpower AB. Arise produces electricity through wind power parks, and manages the whole value chain of project development, from accessing permits to constructing and long-term management. With a target EV/S ratio of 4,0x in 2021, a potential return of 25,7% over two [...]

Boule Diagnostics – A secure business model makes a secure investment

In this equity report, analyst Kristian Norén maps out the main value drivers of Boule Diagnostics AB and highlights the secure business model. Boule develops and sells instruments and complementary consumables used in blood diagnostics, working on the decentralized hematology market. Our analyst believes that Boule is being traded at a size premium, which is [...]

Swedencare – Plaqueoff, the tail that wags the dog of Swedencare

In this equity report, analyst Tom Erikson takes a deep-dive into pet care company Swedencare. Swedencare develops, sells and distributes pet food additives. Their main product, Plaqueoff, has managed to sustain a yearly sales growth of around 26% since 2016 and our analyst, Tom Erikson, estimates that growth rate to continue until the year 2021, [...]

New Nordic Healthbrands – New products during 2020 are expected to contribute to high earnings growth

In this equity report, analyst Victor Östlund takes a deep-dive into New Nordic Healthbrands (or “NHH”). NHH develops, distributes, and sells dietary supplements and naturopathic medication around the globe. Our analyst, Östlund, expects NHH to keep winning market shares over the two coming years by leveraging a highly effective marketing strategy and innovative development department. [...]

Saniona: Closing in on the orphan drug market

In this equity report, analyst Jacob Helmersson takes a deep-dive into Saniona. Saniona is a biotech company that is currently in possession of a broad drug pipeline that focuses on rare metabolic diseases. If Sanionas flagship drug, Tesomet, were to hit the market, our analyst estimates a high chance of them becoming a leader on [...]

INVISIO COMMUNICATIONS- A fast growing market leaves sole player Invisio with huge potential

As only player in a growing niche market Invisio sees large sales growth potential. There is a growing awareness of costs related to hearing impairments. As Invisio is the the sole producer of a solution which accounts to this as well as advanced communication, this will potentially result in increased interest for Invisio's products, where [...]

PRICER AB – The emerging e-commerce space might benefit Pricer in the short-term

Pricer’s revenue in the North American market is estimated to grow due to Best Buy orders. Revenue generated from the US increased by 260 % from 2017-2018 as a result of orders from the retail chain Best Buy. So far 240 installations have been made. Best Buy currently have 1008 stores in the US. Orders [...]

KOPPARBERG – Slow growth shifts focus to new markets

European cider trends offer a growing market with increased competition. Total cider volume in European countries reached an average CAGR of 24,71% 2011-2016. Kopparberg’s market share is expected to decrease in Sweden, whilst the UK will remain stable at a 0,07% YoY growth rate. The rest of the market will be Kopparberg’s primary source of [...]