Swedish Undiscovered Gems With Strong Fundamentals

Intellego Technologies

Market Cap: SEK 2.7b

Manufactures and sells colorimetric ultraviolet indicators in Sweden.

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 1.3b

Provides IT and management services in Sweden.

ByggPartner Gruppen

Market Cap: SEK 1.4b

Operates as a construction company in Sweden.

Nelly Group

Market Cap: SEK 2.8b

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

Viking Supply Ships

Market Cap: SEK 1.5b

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

Karnell Group

Market Cap: SEK 3.1b

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

Doro

Market Cap: SEK 1.0b

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

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.

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.

Saniona

Market Cap: SEK 2.1b

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.

Bahnhof

Market Cap: SEK 6.1b

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

Idun Industrier

Market Cap: SEK 3.7b

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

Cloetta

Market Cap: SEK 10.5b

Operates as a confectionery company.

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 3.3b

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

Ework Group

Market Cap: SEK 1.8b

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 9.6b

Operates an online pharmacy in Sweden.

Micro Systemation

Market Cap: SEK 1.1b

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

CTT Systems

Market Cap: SEK 2.6b

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

Zinzino

Market Cap: SEK 4.4b

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

Berner Industrier

Market Cap: SEK 1.4b

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

Midsona

Market Cap: SEK 1.1b

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.

Nordrest Holding

Market Cap: SEK 2.6b

Operates as a foodservice company in Sweden and internationally.

BioGaia

Market Cap: SEK 10.6b

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.

Dala Energi

Market Cap: SEK 1.2b

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

Norion Bank

Market Cap: SEK 12.1b

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

Haypp Group

Market Cap: SEK 4.7b

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

Nyab

Market Cap: SEK 4.5b

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

Bufab

Market Cap: SEK 17.7b

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.

NOTE

Market Cap: SEK 5.0b

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

Rejlers

Market Cap: SEK 4.3b

Engages in the provision of engineering consultancy services in Sweden, Finland, Norway, and Abu Dhabi.

TF Bank

Market Cap: SEK 11.3b

A digital bank, provides consumer banking services and e-commerce solutions through a proprietary IT platform in Sweden .

Boozt

Market Cap: SEK 6.3b

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