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
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      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
    }
  }
}


qben-infra-sharpening-the-core-platforms-abg

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Qben Infra is a group specialized in the acquisition and development of platforms within infrastructure services in the Nordic region. The company has a diversified portfolio of companies across the infrastructure niches: Construction, Rail, Power and Testing, Inspection &amp; Certification. The focus is on identifying investment opportunities within niches with potential for development, consolidation and growth. Qben Infra was founded in 2001 and has its headquarters in Hägersten.

Qben Infra

* Rail and Kvalitetsbygg sold, while we see...* ...strong price indications on Power...* ...and potential acquisitions should grow InspectQ3 highlightsQben Infra reported Q3 sales of SEK 253m...

* Rail and Kvalitetsbygg sold, while we see...* ...strong price indications on Power...* ...and potential acquisitions should grow InspectQ3 highlightsQben Infra reported Q3 sales of SEK 253m (SEK 793m inc. Rail and Kvalitetsbygg) vs. ABGSCe of SEK 793m (incl. Rail and Kvalitetsbygg). Rail and Kvalitetsbygg are now in the process of being divested. Rail is ~20% divested and the remaining part is expected to be sold in January in a second tranche. Kvalitetsbygg, a part of Construction, has been sold in a management buyout during Q4. The transaction still has to be approved by Swedish authorities, but management say this is proceeding as planned. Adj. EBITA was SEK -48m (ex. Rail and Kvalitetsbygg), corresponding to a -19% adj. EBITA margin, held back by a SEK 58m amortisation on properties and PPA in the remaining part of Construction.Outlook and estimate changesThe remaining parts of Qben: Power, Inspect and Construction (Team Bygg) have good demand. According to Qben, Power has received indicative offers at the same level as Rail was sold at. Rail was sold at a EV/EBITA of 8.8x, indicating an EV of SEK ~300m on our '25 estimates. Qben guides that both Power and Inspect will have 10% EBITA margins in '26 and that sales will be about SEK 1.6bn, leaving EBITA at ~SEK 153m in '26. Qben also expects a net cash position of SEK 390m when the payments from the divestments are in (approx. during '27e). This will enable Qben to continue its focus on value-adding acquisitions.Looking forwardQben Infra is to be seen as an investment company. According to management, the transactions will free up resources that can be better utilised in the other fast-growing infrastructure business areas (Inspect, Residential development and Power), which are benefiting from healthy market activity and a growing order backlog. Following completion of the divestment, the Construction business area will consist of an operation that develops residential properties in Norway.