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
    }
    ... 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
    }
  }
}


kalqyl-plejd-vd-intervju-med-babak-esfahani-om-q425

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Plejd is a technology company. The company develops technical products and services within lighting and home automation. Examples within the product portfolio include dimmers, controllers, and wireless lighting systems. In addition, Plejd offers the possibility to adjust and control lighting systems via proprietary mobile applications. Plejd was founded in 2009 and has its headquarters in Mölndal.

Plejd released its full-year 2025 figures today: Year-end report Looking quite good!  41% organic growth in sales (both full year and Q4). Strong earnings growth continued, and profitability also improved. Full-year EBIT grew by 71%, the annual operating margin was 24.6% (2024: 20.3%), and EPS grew by 72%. TRM-01 thermostat as a breakthrough product, especially in Norway. Cash position remains strong.   According to the “Value growth in installations” metric, the strongest growth in Q4 was in the Netherlands and Norway, but growth also accelerated in Finland.  Absolute sales figures by country:  A couple of other highlights:  Pareto Securities slightly lowered the target price from 1,100 → 1,000 SEK (recommendation remains Buy). JP Morgan Asset Management opened a small short position in Plejd leading up to the report.  The market seems to like it: share price +14.6% (closing price for the day 848 SEK).

Great effort! However, sales growth in Norway is small, even though Babak says that TRM-01 started strongly and Norway is prioritized in deliveries early in the year. The Netherlands overtook Finland, which is very positive

mb.cision.com              3251364.pdf    788.55 KB                            Solid performance.

Plejd’s thermostat went on sale this past week, which is indeed expected to be a big hit, especially in Norway                   plejd.com              Termostat (TRM-01)                              Similarly, a Universal Dimmer has at least appeared in the Netherlands, which is predicted to be a success in Central Europe                   plejd.com              Dimmer LED (VRI-03)

I’ve also been a Plejd shareholder since last spring, ever since Christoffer pitched the idea. The valuation is certainly starting to look wild in this vertical climb, but for now, I’m trying to hang on as there have been no cracks in the story and the construction market should start providing tailwinds again in the coming years. I quickly gathered the growth data and shares of different markets from recent times. The change in installation value is an interesting data point that the company included in this report. It’s certainly the best metric for organic growth, as the company itself mentioned.

A few further thoughts on the results  Value of installations in Norway +46% vs. revenue growth +24.4%. Offhand, I can’t think of anything other than speculation about wholesalers clearing out their inventory? This should show up as strong sales to Norway in the next quarter? As Babak notes, the recessed luminaire has been well received and has likely significantly helped the growth in Sweden. It is indeed attractively priced for its features Link DWN-02 Interest in the thermostat in Norway has been talked about for a long time, and apparently, a large proportion of houses in Norway use electric heating. It will be interesting to see the comments on this in the Q4 report, continuing into next year. Combined with the first point, will Q4/24 be a Norway-blowout? Finland’s slow adoption is puzzling. Both Norway and Finland were entered in 2019, and Norway’s sales are 4x higher. The Netherlands and Germany will soon overtake (readers, go buy some devices now). Of course, using the term “slow” is a bit questionable when revenue grew 45% in Finland’s “declared dead” construction industry.

Solid results from Plejd Revenue +27.7%, gross margin up and installation value +33.6%. I suppose one could find something to complain about, but I don’t know what yet https://mb.cision.com/Main/13880/4051985/3058211.pdf

Plejd

Vi har intervjuat Babak Esfahani, vd för Plejd, i samband med Q4’25-rapporten. Samtalet berör den fortsatt starka tillväxten med särskilt fokus på Norge, utvecklingen inom produktportföljen ...

<div class="mfn-body"><p>Vi har intervjuat Babak Esfahani, vd för Plejd, i samband med Q4’25-rapporten. Samtalet berör den fortsatt starka tillväxten med särskilt fokus på Norge, utvecklingen inom produktportföljen där termostater och armaturer är centrala, samt bolagets satsning mot det kommersiella segmentet. Vidare diskuteras den geografiska expansionen i Europa med fokus på Nederländerna och solskydd som viktigt insteg, samt produktions- och leveransförutsättningar. Intervjun berör även bruttomarginalutveckling, kassaflöde och lageruppbyggnad, bolagets syn på utdelning framåt, styrelseförändringar samt förväntningar och prioriteringar inför 2026.</p><p>Se hela intervjun <a rel="noopener" href="https://www.youtube.com/watch?v=rq2zwR5Ncvo">här</a>!</p></div><div class="mfn-footer mfn-contacts mfn-8721526a862f"><p><strong class="mfn-heading-1">För mer information, vänligen kontakta:</strong></p><hr><p><strong>Albin Eriksson</strong>, analytiker (albin@kalqyl.se) <br><strong>Erik Lundberg</strong>, analytiker (erik.lundberg@kalqyl.se)<br><strong>Pontus Fredriksson</strong>, analytiker (pontus@kalqyl.se)</p></div><div class="mfn-footer mfn-about mfn-46a74da06bb8"><p><strong class="mfn-heading-1">Om Kalqyl</strong></p><hr><p>Kalqyl är ett nytänkande analysbolag med en snabbväxande plattform och en unik räckvidd bland nordiska investerare. Med djup expertis och fokus på kvalitativt innehåll levererar vi analyser och intervjuer som engagerar och skapar värde.</p></div><div class="mfn-footer mfn-attachment mfn-attachment-general"><p><strong class="mfn-heading-1">Bifogade filer</strong></p><hr><p><a rel="noopener" href="https://storage.mfn.se/a7e00505-edb7-4b2c-8bd8-336753686ef8/plejd-vd-intervju-med-babak-esfahani-om-q425.pdf" class="mfn-generated mfn-primary">Plejd: VD-intervju med Babak Esfahani om Q4'25</a></p></div>