Swedish Undiscovered Gems With Strong Fundamentals

Freetrailer Group

Market Cap: DKK 778.8m

Operates as a trailer rental company in Denmark, Sweden, Germany, and Norway.

Firefly

Market Cap: SEK 1.1b

Develops and sells industrial fire prevention and protection systems for the process industry worldwide.

Arla Plast

Market Cap: SEK 1.3b

Through its subsidiaries, manufactures, sells, and distributes extruded plastic sheets in Sweden, Germany, the Czech Republic, Poland, rest of Europe, and internationally.

Softronic

Market Cap: SEK 1.2b

Provides IT and management services in Sweden.

ByggPartner Gruppen

Market Cap: SEK 1.4b

Operates as a construction company in Sweden.

Novotek

Market Cap: SEK 932.8m

Novotek AB delivers solutions in the industrial IT and automation areas in Sweden, Norway, Denmark, Finland, Benelux countries, the United Kingdom, Ireland, and Switzerland.

Karnell Group

Market Cap: SEK 3.2b

A private equity firm specializing investments in add-on acquisitions, expansion and small and medium-sized companies.

Nelly Group

Market Cap: SEK 2.4b

Operates as a fashion company in Sweden, rest of Nordics, and internationally.

Creades

Market Cap: SEK 10.5b

A private equity and venture capital investment firm specializing in early, mid & late venture, emerging growth, middle market, growth capital and buyout investments.

Viking Supply Ships

Market Cap: SEK 1.4b

Provides offshore anchor handling and ice-breaking services to oil industry primarily in Arctic and North Sea.

Case Group

Market Cap: SEK 1.0b

Provides wealth management services for private clients in Sweden.

XANO Industri

Market Cap: SEK 3.5b

Develops, manufactures, and sells industrial products and automation equipment in Sweden, rest of Nordic countries, Europe, and internationally.

Doro

Market Cap: SEK 1.0b

A technology company, develops telecom and technology products and services for seniors and individuals with special needs.

Plejd

Market Cap: SEK 7.5b

A technology company, develops products and services for smart lighting control in Sweden, Norway, Finland, the Netherlands, Germany, and internationally.

Bahnhof

Market Cap: SEK 6.7b

Engages in the Internet and telecommunications business in Sweden and rest of Europe.

Idun Industrier

Market Cap: SEK 4.2b

An investment holding company, engages in the manufacture and sale of glass fiber reinforced fat- and oil separators in Sweden.

Saniona

Market Cap: SEK 1.6b

A clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of treatments for rare disease patients in Sweden, the United States, Germany, Denmark, and the United Kingdom.

Cloetta

Market Cap: SEK 9.6b

Operates as a confectionery company.

Intellego Technologies

Market Cap: SEK 4.5b

Manufactures and sells colorimetric ultraviolet indicators in Sweden.

SyntheticMR

Market Cap: SEK 1.2b

Engages in the development and marketing of imaging and software solutions for magnetic resonance imaging (MRI) in Sweden and internationally.

Byggmax Group

Market Cap: SEK 3.4b

Sells building materials and related products for DIY projects in Sweden, Norway, and internationally.

Ework Group

Market Cap: SEK 1.9b

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.

Apotea

Market Cap: SEK 10.1b

Operates an online pharmacy in Sweden.

Berner Industrier

Market Cap: SEK 1.4b

Engages in the technology distribution, and energy and environment business in Sweden, Norway, Finland, and Denmark.

CTT Systems

Market Cap: SEK 2.9b

Provides humidity control systems for aircraft in Sweden, Denmark, France, the United States, and internationally.

Micro Systemation

Market Cap: SEK 1.2b

Provides forensic technology for mobile device examination and analysis in Sweden and internationally.

Zinzino

Market Cap: SEK 5.6b

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

BioGaia

Market Cap: SEK 10.4b

A healthcare company, develops, manufactures, markets and sells probiotic products for gut, oral, and immune health in Europe, the Middle East, Africa, the United States, the Asia-Pacific, Australia, and New Zealand.

Nordrest Holding

Market Cap: SEK 2.6b

Operates as a foodservice company in Sweden and internationally.

Midsona

Market Cap: SEK 1.2b

A consumer goods company, provides organic and consumer health products, and health food products in Sweden, Denmark, Finland, Norway, France, Spain, Germany, Rest of Europe, and internationally.

Dala Energi

Market Cap: SEK 1.2b

Operates as a supplier of electricity, heating, and fiber networks in Sweden.

Lea Bank

Market Cap: SEK 1.2b

Provides various banking products and services in Norway, Sweden, Finland, and Spain.

Haypp Group

Market Cap: SEK 5.3b

Operates as an online retailer of tobacco-free nicotine pouches and snus products in Sweden, Norway, the rest of Europe, and the United States.

Norion Bank

Market Cap: SEK 14.2b

Provides financial solutions for medium-sized corporates and real estate companies, merchants, and private individuals in Sweden, Germany, Norway, Denmark, Finland, and internationally.

Bufab

Market Cap: SEK 18.5b

A trading company, provides solutions for procurement, quality assurance, and logistics for c-parts and technical components in Sweden, Denmark, the United States, the United Kingdom, and internationally.

Nyab

Market Cap: SEK 4.8b

Provides engineering, construction, and maintenance services to energy, infrastructure, and industrial construction projects for public and private sectors in Finland and Sweden.