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HomeMaid announced on Friday that its CEO, Stefan Högkvist, has sold 280,000 shares (at SEK 29 per share) in the company. The total value of the transaction amounted to 8.1 MSEK. Following this transaction, Stefan Högkvist’s holding in HomeMaid amounts to 155,000 shares (~0.8% of outstanding shares) and call options corresponding to 350,000 shares.

Goldman Sachs har nyligen släppt en rapport som går igenom den intensiva teknikkampen mellan USA och Kina, en rivalitet som fortsätter trots ett nytt handelsavtal mellan länderna.

Yesterday, GreenMobility raised its 2025 guidance for both revenue and EBITDA for the fourth time this year, driven by stronger-than-expected revenue development. We have updated our One-pager analysis with the upgraded 2025 guidance and latest price movements.

Inderes delivered solid monthly sales in November with sales increasing by 15% y/y. The strong growth owes to improved CMD activity. The sales beat our estimate by EUR 0.2m, which was the case also in October. Consequently, after two months of reporting in Q4 the sales run-rate is some EUR 0.4m above our current projection. Our positive read-x is also supported by the fact that Inderes has managed to win CMDs also in Sweden.

WindowMaster has started to implement the 100:1 reverse share split meaning that 100 existing shares will be combined into one new share.

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In this interview, we sit down with Verve Group’s CEO Remco Westermann reflecting on 2025 and the path forward.

The game will be released in 2026, which is earlier than our current forecast (H1'27).

Keskos försäljning i november ökade med 4 % med stöd från de två största affärsområdena.

Vinstvarningens inverkan på vår ståndpunkt är begränsad, eftersom innevarande år är ett mellanår. Att leveranser flyttas till nästa år stöder en förbättring av marginalen.

We believe this new brand partnership is a positive addition to Spinnova's network of partners and will support the long-term outlook for demand of fiber produced using the company's technology. However, we do not believe that the agreement will have a significant financial impact in the near future. Reducing technology investment and production costs and identifying technology investment partners continue to play a key role in the company's commercialization efforts.

Fondias vinstvändning är bara i början, men till skillnad från historien har starka åtgärder vidtagits och framgång i strategiska projekt skulle innebära en betydande vinstförbättring. Detta stöder också förtroendet för att slutresultatet kommer att förändras. Trots sina utmaningar är Fondia marknadsledande inom kontinuerliga företagstjänster i Finland, och i förhållande till detta är värderingen extremt låg.

Efter avyttringen av medieverksamheten fokuserar Ilkka på lönsam tillväxt inom marknadsföring, teknik och datatjänster, men den största värdedrivaren för aktien är fortfarande företagets ägande i Alma Media.

Of the 35 MEUR convertible bond financing, 25 MEUR has now been drawn.

Vi har beaktat Rapalas balansräkningsrefinansiering och gjort smärre justeringar i våra operationella estimat.

However, with the valuation decrease due to the recent around 10% price drop (2026e: P/E 12x), we feel the expected return has improved and risen slightly above the required return. In our view, Scanfil also offers an attractive investment story of profitable growth in the longer term.

We have reviewed our estimates following Sanoma's Capital Markets Day and updated financial targets.

Flügger will publish its Q2 2025/26 results on Friday, December 12. We maintain our forecasts, which were updated following the solid Q1 performance, where strong growth in Poland continued, and Sweden also saw a growth acceleration, while Danish revenues remained flat. For Q2, we continue to expect a balanced performance with modest group revenue growth supported by strong International momentum and favourable FX tailwinds, while Denmark executes its shift of production output from builders’ merchants back towards Flügger’s (higher margin) own brands.

Vi tolkar lönsamhetsmålet som något försiktigt.

Med aktiens nuvarande värdering (2025e NAV-nedsättning 30 %) anser vi att det är en mycket förnuftig kapitalallokering.