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Research

Inderes - Lowers guidance ranges: new EBITA mid-point 34% below SEB estimate

By SEB
Inderes
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Inderes issued a profit warning, as its virtual event business (outside the core client sector) continues to lag behind its targets. The key impression is that the previous year's strong performance by Flik was supported by Covid and future years' growth must be built on a lower base. We also find that the lack of IPOs erodes the FY/22 performance. Using the new guidance range mid-point, the share is currently trading roughly at an EV/EBITA of 31x (2022E).

Inderes operates in the financial industry. The company provides a community platform for investors and listed companies. Via the platform, users can communicate with each other and exchange investment tips. The customers consist of both companies and private individuals. In addition, the company offers analysis services and a basis for investment decisions. The largest operations are in the Nordic region.

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Forum discussions

Here’s a fresh look at Inderes from Sebu. Inderes delivered solid monthly sales in November with sales increasing by 15% y/y. The strong growth...
12/12/2025, 5:38 PM
by Sijoittaja-alokas
18
Inderes’s stock has poor liquidity. The only ways to sell a large quantity of the stock are to find a buyer or good news. This time, the good...
12/12/2025, 11:35 AM
by Mikko Mäkinen
55
Indeed, those 26 figures have quite high growth numbers built in if one compares them to the 2024 adjusted EPS. Will the growth materialize ...
12/12/2025, 11:34 AM
by Thyme
8
Regarding this, I believe that the management already has such a large ownership in the company that it would not be good (even for the market...
12/12/2025, 10:52 AM
by Iiizi
12
Good growth figures from Inderes in November After the profit warning, we have received two good sets of monthly figures, and the IPO window...
12/12/2025, 6:55 AM
by Karhu Hylje
33
@studentcoverage_team has given their comments on Inderes’ performance. Inderes’ revenue grew by 15% in November and was EUR 1.8 (1.6) million...
12/11/2025, 3:07 PM
by Sijoittaja-alokas
17
Regarding Nokian Panimo, Evli is a natural choice as both an IPO and analysis partner, as the company’s main owner is Evli’s founder and was...
12/11/2025, 2:32 PM
by Addick
7
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