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 1.2b

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

ByggPartner Gruppen

Market Cap: SEK 1.4b

Operates as a construction company in Sweden.

Novotek

Market Cap: SEK 958.2m

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

Softronic

Market Cap: SEK 1.2b

Provides IT and management services in Sweden.

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.

Creades

Market Cap: SEK 10.7b

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

Nelly Group

Market Cap: SEK 2.4b

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

Karnell Group

Market Cap: SEK 3.7b

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

Doro

Market Cap: SEK 980.2m

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

Advenica

Market Cap: SEK 963.3m

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

XANO Industri

Market Cap: SEK 3.7b

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.

Idun Industrier

Market Cap: SEK 3.9b

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

Cloetta

Market Cap: SEK 9.3b

Operates as a confectionery company.

Bahnhof

Market Cap: SEK 6.6b

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

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.

Intellego Technologies

Market Cap: SEK 5.9b

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.

Apotea

Market Cap: SEK 10.7b

Operates an online pharmacy in Sweden.

Ework Group

Market Cap: SEK 2.0b

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.

Byggmax Group

Market Cap: SEK 3.4b

Sells building materials and related products for DIY projects in Sweden, Norway, 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 7.3b

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

CTT Systems

Market Cap: SEK 2.8b

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

Nordrest Holding

Market Cap: SEK 2.7b

Operates as a foodservice company in Sweden and internationally.

Dala Energi

Market Cap: SEK 1.3b

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

BioGaia

Market Cap: SEK 10.7b

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.

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.

Norion Bank

Market Cap: SEK 14.1b

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

OEM International

Market Cap: SEK 18.5b

Operates as a technology trading company.

Lea Bank

Market Cap: SEK 1.2b

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

Haypp Group

Market Cap: SEK 4.4b

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

Bufab

Market Cap: SEK 18.0b

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.