Category: <span>R&A Reports</span>

Academedia (ACAD)

In this financial analysis report, analysts Felix Johansson and Keller Edstrand take a closer look at the Swedish education company Academedia. Academedia is set to benefit from various macro trends in the upcoming three years which, according to the analysts, motivates a revenue CAGR of 15.7% between 2022-2025E.

GARO Group (GARO)

In this financial report, analysts Elias Borg and Benjamin Holmén take a closer look at GARO Group (GARO), the Swedish developer and manufacturer of electrical installation components and electric vehicle chargers. The analysts expect revenue growth of 46% between 2021A-2023E. This is driven by underappreciated synergies, substantial market growth and a strong brand. Based on a peer and historical analysis, equally weighted, a target EV/EBIT of 26x is justified – implying a price per share of SEK 138.6, and a potential upside of 24.4% by 2023E.

Vow (VOW)

In this equity research report, analyst Axel Andersson takes a closer look at Vow, a Norwegian company providing waste and water solutions. The analyst estimates a rapid 30.9% topline growth CAGR to 2024E, resulting from worldwide environmental initiatives including RepowerEU, the EU green deal, and the Inflation reduction act. Vow is estimated to gain significant operating leverage in the upcoming years increasing EBITDA margins from 12.9% to 16.8% in 2024E.

Gomero Group (GOMERO)

In this equity research report, analysts Cassandra Åstenius and Gunnar Hallberg take a closer look at Gomero, a Swedish safety company working with predictive maintenance of electric network stations. The analysts estimate that Gomero’s international expansion plans, new software solution, and upcoming investments within the energy sector will pave the way for a net sales CAGR of 16.5% between 2021A-2024E.

NOTE AB (NOTE)

In this financial analysis report, analysts Lukas Forsman and Sofia Nordfjell take a closer look at the Swedish contract manufacturer NOTE. The analysts estimate a revenue CAGR of 19.6% between 2021A-2025E as a result of strong underlying market growth

KID Interior (KID)

In this equity research report, analysts Björn Jönsson and Felix Young take a closer look at the Norwegian home textile and interior retail company KID Interior (KID). The analysts estimate an online revenue CAGR of 42.8% 2021A-2025E, primarily driven by KID’s strong brand recognition, market share and beneficial customer club.

Veteranpoolen (VPAB)

In this equity research report, Adam Andre and August Winzell take a closer look at Veteranpoolen (VPAB), a senior staffing company operating in Sweden. The analysts estimate that Veteranpoolens decentralized business model, key investments in digital solutions will lead to operating leverage and that the expansion into new market segments will pave the way for a net sales CAGR of 12.5% between 2021A-2023E.

Zinzino (ZZ B)

In this equity research report, analysts Carl Viktor Wümer and Sebastian Wester take a closer look at the Swedish dietary supplement company Zinzino (ZZ B). The analysts estimate a revenue CAGR of 13.7% between 2021A-2023E, largely driven by Zinzino’s ability to expand to new submarkets through its efficient direct selling business model.

Desenio Group (DSNO)

In this financial analysis report, analysts Noak Neuvonen and Ture Eknor take a closer look at Swedish online wall-art company Desenio Group (DSNO). The analysts estimate a revenue CAGR of 9.0% in 2021A – 2023E due to geographical expansion and increased interest in online, affordable art.