Swedish Potentially Undervalued Companies

CellaVision

Market Cap: SEK 3.7b

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

Stillfront Group

Market Cap: SEK 3.4b

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

Intrum

Market Cap: SEK 5.1b

Provides payment solutions, and credit and collection services in Europe and internationally.

Inwido

Market Cap: SEK 7.9b

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

HEXPOL

Market Cap: SEK 28.3b

Develops, manufactures, and sells various polymer compounds and engineered gaskets, seals, and wheels in Sweden, rest of Europe, the United States, rest of the Americas, and Asia.

Arjo

Market Cap: SEK 8.4b

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

Sprint Bioscience

Market Cap: SEK 72.8m

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

Cloetta

Market Cap: SEK 9.8b

Operates as a confectionery company.

Bilia

Market Cap: SEK 11.1b

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

Investor

Market Cap: SEK 944.4b

A private equity firm specializing in mature, middle market, buyouts and growth capital investments.

Husqvarna

Market Cap: SEK 25.4b

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

Embracer Group

Market Cap: SEK 19.1b

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

DNB

Market Cap: NOK 383.1b

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

G5 Entertainment

Market Cap: SEK 657.3m

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

Solstad Maritime

Market Cap: NOK 8.4b

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.

Loomis

Market Cap: SEK 24.1b

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

ADDvise Group

Market Cap: SEK 714.0m

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.

SSAB

Market Cap: SEK 61.6b

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

Dustin Group

Market Cap: SEK 2.3b

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

AB SKF

Market Cap: SEK 107.7b

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

Netel Holding

Market Cap: SEK 184.3m

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

Afry

Market Cap: SEK 17.0b

Provides engineering, design, and advisory services for the infrastructure, industry, and energy sectors in the Nordics, North America, South America, Asia, rest of Europe, and internationally.

SSAB

Market Cap: SEK 61.6b

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

Camurus

Market Cap: SEK 37.0b

A biopharmaceutical company, develops and commercializes medicines for severe and chronic diseases in Europe, Africa, the Middle East, North America, and Asia.

Mentice

Market Cap: SEK 392.4m

Develops, sells, and markets solutions for training and decision support in the clinical area of interventional angiography in cardiology, neurology, vascular surgery, and radiology.

Sleep Cycle

Market Cap: SEK 473.5m

Engages in providing sleep tracking applications in Sweden.

Arcoma

Market Cap: SEK 107.3m

Develops, produces, and provides radiology solutions and digital x-ray systems worldwide.

Boozt

Market Cap: SEK 6.3b

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

Iconovo

Market Cap: SEK 77.5m

Develops and licenses inhalation medications in Sweden.

Ambea

Market Cap: SEK 10.7b

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

Avensia

Market Cap: SEK 305.2m

Provides e-commerce solutions in Sweden.

Hacksaw

Market Cap: SEK 19.4b

Operates as a B2B technology platform and game development company in Sweden and Czech Republic.

BW Energy

Market Cap: NOK 9.4b

Engages in the exploration and production of oil and gas properties.

NOTE

Market Cap: SEK 5.0b

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

Ework Group

Market Cap: SEK 1.5b

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.

Investor

Market Cap: SEK 944.4b

A private equity firm specializing in mature, middle market, buyouts and growth capital investments.