Swedish Undiscovered Gems With Strong Fundamentals

Linc

Market Cap: SEK 4.2b

A private equity and venture capital firm, specializing in early and mature stage investments in pharmaceutical, life-science and med-tech companies.

Freetrailer Group

Market Cap: DKK 778.8m

A technology company, operates a sharing-economy platform for the free rental of trailers and cargo bikes in Denmark, Sweden, Germany, and the Netherlands.

Train Alliance

Market Cap: SEK 1.6b

Provides railway facilities in Sweden.

Firefly

Market Cap: SEK 1.1b

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

Kopparbergs Bryggeri

Market Cap: SEK 2.4b

Manufactures, distributes, and sells water, soft drinks, beer, cider, wine, and spirits in Sweden and internationally.

Berner Industrier

Market Cap: SEK 1.5b

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

ByggPartner Gruppen

Market Cap: SEK 2.3b

Operates as a construction company in Sweden.

Softronic

Market Cap: SEK 1.2b

Provides IT and management services in Sweden.

Karnell Group

Market Cap: SEK 3.7b

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

Fenix Outdoor International

Market Cap: SEK 14.9b

Develops and markets outdoor products worldwide.

Viking Supply Ships

Market Cap: SEK 1.8b

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

Investment AB Öresund

Market Cap: SEK 6.2b

Operates as an investment company that engages in the asset management activities in Sweden.

Nelly Group

Market Cap: SEK 1.0b

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

Advenica

Market Cap: SEK 1.0b

Develops and sells security solutions for defense and authority, and business customers in Sweden, Finland, and internationally.

XANO Industri

Market Cap: SEK 3.3b

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 1.9b

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 13.6b

Operates as a confectionery company.

Idun Industrier

Market Cap: SEK 3.6b

An investment holding company, invests in and develops industrial and service businesses in Sweden, rest of Nordic countries, rest of Europe, and internationally.

Bahnhof

Market Cap: SEK 5.5b

Provides internet services to individuals and businesses in Sweden and internationally.

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.

Sotkamo Silver

Market Cap: SEK 1.4b

A mining and ore prospecting company, develops and utilizes mineral deposits in the Kainuu region in Finland.

AddLife

Market Cap: SEK 17.4b

Provides instruments and equipment, consumables, and reagents primarily to medical care, research, colleges, and universities, as well as the food and pharmaceutical industries.

Zinzino

Market Cap: SEK 5.0b

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

FM Mattsson

Market Cap: SEK 4.0b

Develops, manufactures, and sells water taps and related products for bathrooms and kitchens in Sweden, Norway, Denmark, Finland, Benelux, the United Kingdom, Germany, Italy, and internationally.

Bokusgruppen

Market Cap: SEK 1.2b

Operates as a book retailer in Sweden.

BioGaia

Market Cap: SEK 12.0b

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 4.2b

Operates as a foodservice company in Sweden and internationally.

Morrow Bank

Market Cap: SEK 3.0b

Provides unsecured financing to consumers in Norway, Sweden, and Finland.

Duni

Market Cap: SEK 4.0b

Develops, manufactures, and sells concepts and products for the serving, take-away, and packaging of meals in Sweden, Poland, and internationally.

Solid Försäkringsaktiebolag

Market Cap: SEK 1.8b

Provides non-life insurance to private and business customers in Sweden, Denmark, Norway, Finland, and internationally.

Studsvik

Market Cap: SEK 2.4b

Provides technical solutions across the nuclear and radioactive material in Sweden, Germany, Europe, Asia, North America, and internationally.

Volati

Market Cap: SEK 6.6b

A private equity firm specializing in growth capital, buyouts, add on acquisitions in mature and middle market companies.

Exsitec Holding

Market Cap: SEK 1.5b

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

SkiStar

Market Cap: SEK 12.5b

Owns and operates Alpine ski resorts in Sweden and Norway.

NOTE

Market Cap: SEK 4.9b

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