Swedish Undervalued Small Caps

Bilia

Market Cap: SEK 11.5b

Operates as a full-service supplier for car ownership in Sweden, Norway, Luxemburg, and Belgium.

CellaVision

Market Cap: SEK 3.6b

Develops and sells instruments, software, and reagents for blood and body fluids analysis in Sweden and internationally.

Boozt

Market Cap: SEK 5.4b

Sells fashion, apparel, shoes, accessories, kids, home, sports, and beauty products online.

Hacksaw

Market Cap: SEK 16.6b

Operates as a B2B technology platform and game development company in Sweden and Czech Republic.

Alimak Group

Market Cap: SEK 13.0b

Alimak Group AB (publ) desigs and manufactures vertical access solutions in Europe, Asia, Australia, South and North America, and internationally.

Storytel

Market Cap: SEK 6.1b

Provides audiobooks and e-books streaming services.

New Wave Group

Market Cap: SEK 13.1b

Designs, acquires, and develops brands and products in the corporate, sports, gifts, and home furnishings sectors in Sweden, the United States, Central Europe, rest of Nordiac countries, Southern Europe, and internationally.

Nolato

Market Cap: SEK 13.8b

Develops, manufactures, and sells plastic, silicone, and thermoplastic elastomer products in Europe, Asia, North America, and internationally.

Nederman Holding

Market Cap: SEK 5.0b

Operates as an environmental technology company.

Viva Wine Group

Market Cap: SEK 3.0b

Develops, markets, imports, and sells wines.

Ependion

Market Cap: SEK 3.2b

Provides digital solutions for secure control, management, visualization, and data communication for industrial applications.

Exsitec Holding

Market Cap: SEK 1.5b

Provides digital solutions to medium-sized companies in Sweden, Norway, Denmark, and Finland.

MilDef Group

Market Cap: SEK 6.3b

Develops, manufactures, and sells rugged IT solutions in Sweden, Norway, Finland, Denmark, the United Kingdom, Germany, Switzerland, the United States, Australia, and internationally.

Storskogen Group

Market Cap: SEK 14.8b

Owns and develops small and medium-sized businesses operating in trade, industry, and services business areas.

Truecaller

Market Cap: SEK 3.9b

Develops and publishes mobile caller ID applications for individuals and business in India, the Middle East, Africa, and internationally.

Systemair

Market Cap: SEK 16.7b

Manufactures and sells of ventilation, heating and cooling products, and systems in Europe, North America, the Middle East, Asia, Australia, and Africa.

AcadeMedia

Market Cap: SEK 10.0b

Operates as an independent education provider in Sweden, Finland, Norway, the Netherlands, and Germany.

Gränges

Market Cap: SEK 16.7b

Engages in the development, production, and distribution of rolled aluminum products for thermal management systems, specialty packaging, and niche applications in Asia Pacific, Europe, and North and South Americas.

ITAB Shop Concept

Market Cap: SEK 3.7b

Develops, manufactures, sells, and installs store concepts for retail chain stores.

Lindab International

Market Cap: SEK 12.7b

Manufactures and sells products and solutions for ventilation systems in Sweden, Denmark, Germany, France, the United Kingdom, Norway, Ireland, and internationally.

RaySearch Laboratories

Market Cap: SEK 6.6b

A medical technology company, provides software solutions for cancer treatment worldwide.

VBG Group

Market Cap: SEK 9.2b

Develops, manufactures, markets, and sells various industrial products in Sweden, Germany, rest of the Nordic countries and Europe, the United States, rest of North America, Brazil, Australia, New Zealand, China, and internationally.

Humble Group

Market Cap: SEK 3.2b

Develops, refines, and distributes fast-moving consumer products in Sweden and internationally.

Electrolux Professional

Market Cap: SEK 16.5b

Provides food service, beverage, and laundry products and solutions to restaurants, hotels, healthcare, educational, and other service facilities.

Prevas

Market Cap: SEK 1.1b

Provides technical solutions in Sweden, Denmark, Finland, and internationally.

Synsam

Market Cap: SEK 9.4b

Operates in the optical retail and eye health sector in the Nordic Region.

Humana

Market Cap: SEK 2.2b

Provides individual and family care services for children and adults in Sweden, Finland, Norway, and Denmark.

Afry

Market Cap: SEK 15.1b

Provides engineering, design, and advisory services for the infrastructure, industry, and energy sectors in the Nordics, North America, South America, Asia, rest of Europe, and internationally.

Alligo

Market Cap: SEK 6.3b

Engages in the provision of workwear, personal protective equipment, tools, and consumables in Finland, Sweden, and Norway.

NOTE

Market Cap: SEK 5.6b

Provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Bulgaria, Estonia, China, and internationally.

Ework Group

Market Cap: SEK 1.2b

Engages in the provision of total talent solutions for IT/OT, research and development, engineering, and business development in Sweden, Norway, Finland, Germany, Denmark, Poland, and Slovakia.

Cheffelo

Market Cap: SEK 1.2b

Engages in the supply and delivery of meal kits to various customers in Sweden, Norway, and Denmark.

Zinzino

Market Cap: SEK 5.8b

A direct sales company, provides dietary supplements and skincare products in Sweden and internationally.

Scandi Standard

Market Cap: SEK 8.3b

Produces and sells chilled, frozen, and ready-to-eat chicken products in Sweden, Norway, Ireland, Denmark, Finland, Germany, the United Kingdom, rest of Europe, and internationally.

Beijer Alma

Market Cap: SEK 14.6b

Engages in component manufacturing and industrial trading businesses in Sweden, rest of Nordic Region, rest of Europe, North America, Asia, and internationally.

Instalco

Market Cap: SEK 8.9b

Provides installation services in the electrical, heating and plumbing, ventilation, technical consulting, and industrial areas in Sweden and rest of the Nordics.