Swedish Potentially Undervalued Companies

Billerud

Market Cap: SEK 21.1b

Provides paper and packaging materials worldwide.

Inwido

Market Cap: SEK 10.3b

Through its subsidiaries, engages in development, manufacture, and sale of windows and doors in Sweden.

Hexatronic Group

Market Cap: SEK 4.1b

Develops, manufactures, markets, and sells fiber communication solutions in Sweden, the United States, Germany, the United Kingdom, and internationally.

Munters Group

Market Cap: SEK 20.9b

Provides climate solutions in the Americas, Europe, the Middle East, Africa, and Asia.

Cloetta

Market Cap: SEK 9.9b

Operates as a confectionery company.

Netel Holding

Market Cap: SEK 339.6m

Provides construction and maintenance services for communication infrastructure and power networks in Sweden, Norway, Finland, Germany, and the United Kingdom.

Arjo

Market Cap: SEK 8.9b

Develops and sells medical devices and solutions for patients for clinical and financial outcomes for healthcare in Europe, Asia, Latin America, Africa, and Pacific.

Bilia

Market Cap: SEK 10.6b

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

Sprint Bioscience

Market Cap: SEK 62.3m

A pharmaceutical company, engages in the development of pharmaceutical products in the areas of cancer in Sweden.

Embracer Group

Market Cap: SEK 24.5b

Develops and publishes PC, console, mobile, VR, and board games for the games market worldwide.

Dustin Group

Market Cap: SEK 2.4b

Provides online IT products and services in Nordic and Benelux regions.

G5 Entertainment

Market Cap: SEK 715.7m

Develops and publishes free-to-play games for smartphones, tablets, and personal computers in Sweden.

Husqvarna

Market Cap: SEK 29.0b

Produces and sells outdoor power products, watering products, and lawn care power equipment.

NCC

Market Cap: SEK 21.3b

Operates as a construction company in Sweden, Norway, Denmark, and Finland.

CellaVision

Market Cap: SEK 4.3b

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

AB SKF

Market Cap: SEK 106.7b

Designs, manufactures, and sells bearings and units, seals, lubrication systems, condition monitoring, and services worldwide.

SSAB

Market Cap: SEK 59.8b

Engages in the production and sale of steel products in Sweden, Finland, the Rest of Europe, the United States, and internationally.

ADDvise Group

Market Cap: SEK 693.6m

Supplies medical devices, equipment, and consumables to public and private laboratories and research facilities, healthcare, and pharmaceuticals in North America, Europe, South America, Sweden, and internationally.

DNB Bank

Market Cap: NOK 396.8b

Provides financial services to individuals and businesses in Norway and internationally.

Loomis

Market Cap: SEK 27.0b

Provides secure payment solutions in the United States, France, Switzerland, Spain, the United Kingdom, Sweden, and internationally.

Intellego Technologies

Market Cap: SEK 4.3b

Manufactures and sells colorimetric ultraviolet indicators in Sweden.

Stillfront Group

Market Cap: SEK 3.1b

Designs, develops, markets, publishes, and sells digital games in Europe, North America, the Middle East and North Africa, and the Asia-Pacific.

Solstad Maritime

Market Cap: NOK 10.6b

Owns and operates offshore service vessels (OSVs) that provides maritime services to the offshore energy industry in North Sea, North and Central America, Mediterranean and rest of the Europe, Africa, South America, Australia, and Asia.

Ambea

Market Cap: SEK 11.0b

Provides elderly care, disability care, and psychosocial support for the elderly and people with disabilities in Sweden, Norway, and Denmark.

Nobia

Market Cap: SEK 3.1b

Engages in the development, manufacture, and sale of kitchen solutions in Sweden, Denmark, Norway, Finland, the United Kingdom, Germany, the Netherlands, Austria, Iceland, 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.

ES Energy Save Holding

Market Cap: SEK 110.0m

Develops heat pumps for commercial buildings.

Better Collective

Market Cap: SEK 7.1b

Operates as a digital sports media company in Europe, North America, and internationally.

RVRC Holding

Market Cap: SEK 5.3b

Engages in the e-commerce outdoor clothing business in Germany, Sweden, Finland, and internationally.

Avensia

Market Cap: SEK 378.7m

Provides e-commerce solutions in Sweden.

Boozt

Market Cap: SEK 6.0b

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

NCC

Market Cap: SEK 21.3b

Operates as a construction company in Sweden, Norway, Denmark, and Finland.

Sleep Cycle

Market Cap: SEK 538.4m

Engages in providing sleep tracking applications in Sweden.

Hacksaw

Market Cap: SEK 19.5b

Operates as a B2B technology platform and game development company.

Angler Gaming

Market Cap: SEK 269.9m

Invests in companies that offer gaming services through the internet in Malta.

Boule Diagnostics

Market Cap: SEK 199.6m

Develops, manufactures, and markets instruments and consumable products for blood diagnostics in the United States of America, Asia, Eastern Europe, Latin America, Western Europe, Africa, and the Middle East.