contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


addvise-group-publicerar-arsredovisning-och-hallbarhetsrapport-for-2025

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Amplex has made a tender offer for Addvise. A decent offer with approximately a 40% premium for us if one has jumped on the Addvise bandwagon this year. However, for those who bought Addvise in recent years, the news is not good. The tender offer is a method that has become sadly familiar even from the Helsinki stock exchange: The company’s insiders are buying. They already have approximately 30% of the shares and 40% of the voting power. Next, the board will “evaluate” the tender offer and will publish its stance on the matter within two weeks at the latest. The fox guarding the henhouse, I would say.                   ADDvise Group              ADDvise’s board of directors evaluates the public offer from Amplex - ADDvise...    Amplex AB (“Amplex”) has today announced a public offer to the shareholders and warrant holders of ADDvise Group AB (publ) (“ADDvise”) to transfer all shares and warrants in ADDvise to Amplex at a price of SEK 1.65 in cash for each class A and class...

My simple Addvise investment theses are:   The company’s new management has assured that cash flow and EBITA% are the top priorities.   New acquisitions will be made disciplinedly, and Addvise’s debt situation will be carefully considered.   The full exercise of warrants related to the rights issue would bring the company an additional 114-172 MSEK in Q1/2026 (dilution is 14.3%). After this, there should be NO further need for new directed issues or rights issues.   Thanks to point 3) and improved cash flow, the net debt/EBITDA ratio will have fallen below 3.0 by the end of Q1/26. This is the company’s target level.   The additional purchase prices for previous oversized acquisitions will have been almost entirely paid by the end of 2026. The cash flow profile will significantly improve as a result.   Good comparables for Addvise can be found on the Swedish stock exchange: Addlife and Asker. Addvise’s key figures are favorable compared to them, and Addvise is valued at lower multiples. The reasons lie in Addvise’s history and are self-inflicted. However, the management has now been changed, and the main owners include Life Science experts. Many of them have significant shareholdings in Addvise.   With the spring refinancing, interest expenses/year are approximately 75 MSEK. The adjusted 12-month (LTM) P/E ratio is approximately 7. The EBITA margin is approximately 17%, meaning approximately 270 MSEK EBITA (non-IFRS). If, thanks to the new management, confidence in the company returns and Addvise proceeds according to plan, then the multiples could rise closer to its comparables. In this case, Addvise will be a multi-bagger in the coming years. The CEO summarized in the Q3 webcast that future acquisitions will be made thoughtfully: “No rush; it must be the right fit.” If it turns out that this principle is deviated from, I will be the first to sell my shares.

I don’t have full insight into the company, other than hearing them mentioned a bit here at the Inderes office and they conduct their presentations with us. But after reviewing Q3, it feels like they are in a situation that many Swedish companies are in right now. Macroeconomic headwinds are mentioned as a factor for decreased organic revenue, and there is a full focus on operational efficiency impacting profitability. EBITA increased by 1.8% in Q3, and that in itself might not say much, but doing so while revenue decreased and order intake looks bleak might say more. However, this is likely the beginning of a journey for ADDvise, and they need to show more strength in their structure. What do you think?

The Chairman of the Board bought 580,000 shares. He previously owned 3 million shares. News on 4.11.                   placera.se              STYRELSEORDFÖRANDE HAR KÖPT 580.000 AKTIER | Placera.se    STYRELSEORDFÖRANDE HAR KÖPT 580.000 AKTIER

Pareto lowered the target price to 2.0 kronor (previously 2.2 SEK) and reiterated its buy recommendation. The news does not provide any justifications. It would be interesting to know more, as there is almost 100% upside potential to the target price.                   Affärsvärlden              Pareto Securities sänker riktkursen för Addvise Group till 2,0 kronor (2,2),...

Let’s try to revive the thread. Half a year has passed since the rights issue, and on October 23rd, the first so-called “clean” quarter was published, which did not include costs related to the rights issue, nor one-time costs from subsequently restructured loans. The Q3 report and webcast reveal that organic growth is still challenging. The company is now emphasizing disciplined cost management, increasing EBITA%, and business cash flow. The net debt/EBITDA ratio of 3.2 was still above the company’s target of <3.0. A smaller loan portfolio, decreased interest rates, and profitability enhancement measures are now nicely reflected in the bottom line and cash flow. EPS was SEK 0.09 (0.05) and operating cash flow was clearly positive at SEK 35 MSEK (-2.3 MSEK). The CEO emphasizes that the focus is now on capital allocation discipline, which is at least desirable after all the past (in my opinion, reckless) years. July–September 2025 Net revenue was SEK 363.2 million (403.6), an organic decrease of 10.0%, an organic decrease of 4.8% net of currency effects Orders received was SEK 349.2 million (421.8), an organic decrease of 17.2%, a decrease of 12.1% net of currency effects EBITA was SEK 56.4 million (55.4), an increase of 1.8% Operating profit (EBIT) was SEK 44.8 million (66.4) Profit for the period was SEK 56.0 million (11.8) and adjusted profit for the period was SEK 19.0 million (-5.4). Basic earnings per share amounted to SEK 0.09 (0.05) Operating cash flow was SEK 35.3 million (-2.3), an increase of 1,629.1% ADDvise Group Interim report 2025, January 1–September 30 - ADDvise Group Strengthened profitability and cash flow despite a quarter with macro headwinds. In the third quarter, organic sales decreased by 4.8% in constant currency, but the year-to-date growth remains positive. The work on operational efficiency is having an...

In my opinion, this summarizes well why the company’s stock price has plummeted. EBITA%, ROCE% and cash conversion have decreased quarter after quarter, and revenue growth has been solely inorganic. Additionally, reflecting on this, the company was run with an excessively high debt level, which led to a share issue made at a dismal valuation.   The share issue raised 457 MSEK (with warrants potentially raising an additional 172 MSEK in a year), in which insiders also participated, and in recent months they have also bought shares from the stock exchange. Net debt at year-end was approximately 1,435 MSEK, so the issue itself improves the net debt to 12M EBITDA ratio (3.8X at year-end).   Management itself has explained the weak FY24, mainly by an excessively good FY23. Without taking a stand on how various tariffs might affect Addvise Group, I believe the current valuation includes a fair margin of safety.  Based on Quart’s data, Market cap is 233 MSEK and EV 1.7 BSEK; if the consensus estimate of two analysts materializes, EV/EBITDA is 3.9X based on FY25 figures (13.3% EBITDA growth). If EBITDA remains the same as FY24, the multiple would be ~4.5X.  Have others been following the company’s activities recently or bought shares?

ADDvise Group

ADDvise Group AB (publ) publicerar idag årsredovisning och hållbarhetsrapport för räkenskapsåret 2025.Årsredovisningen publiceras i en svensk och en engelsk version. Den svenska versionen utg...

<div class="mfn-preamble">ADDvise Group AB (publ) publicerar idag årsredovisning och hållbarhetsrapport för räkenskapsåret 2025.</div><div class="mfn-body">Årsredovisningen publiceras i en svensk och en engelsk version. Den svenska versionen utgör originalversion.Hållbarhetsrapporten publiceras i en svensk version.Årsredovisningen och hållbarhetsrapporten finns tillgängliga på ADDvise hemsida: <a href="http://www.addvisegroup.se" rel="noopener">www.addvisegroup.se</a>.För vidare upplysningar, vänligen kontakta: Staffan Torstensson, VD070-433 20 19<a href="mailto:staffan.torstensson@addvisegroup.se" rel="noopener">staffan.torstensson@addvisegroup.se</a>Johan Irwe, finanschef073-731 26 11<a href="mailto:johan.irwe@addvisegroup.se" rel="noopener">johan.irwe@addvisegroup.se</a>Om ADDvise ADDvise är en internationell life science-koncern. Med en decentraliserad ägarmodell utvecklar och förvärvar vi högkvalitativa företag inom affärsområdena Lab och Sjukvård. Koncernen omfattar över 20 bolag och omsätter närmare 1,6 miljarder SEK. ADDvise är sedan 2026 en del av den privatägda svenska företagsgruppen Amplex AB. Ytterligare information finns på <a href="https://www.addvisegroup.se/" rel="noopener">www.addvisegroup.se</a>.</div><div class="mfn-footer mfn-attachment mfn-attachment-general">Bifogade filer <a class="mfn-primary" href="https://storage.mfn.se/66503f1f-4a15-499f-8669-7b7dadc167dc/addvise-arsredovisning-2025.pdf" rel="noopener">Addvise Arsredovisning 2025</a></div>