Swedish Potentially Undervalued Companies

Husqvarna

Market Cap: SEK 22.5b

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

Bilia

Market Cap: SEK 11.2b

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

Ependion

Market Cap: SEK 3.1b

Provides digital solutions for secure control, management, visualization, and data communication for industrial applications.

Boozt

Market Cap: SEK 5.3b

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

Hacksaw

Market Cap: SEK 16.6b

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

Intrum

Market Cap: SEK 5.3b

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

Inwido

Market Cap: SEK 8.9b

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

Storytel

Market Cap: SEK 5.9b

Provides audiobooks and e-books streaming services.

New Wave Group

Market Cap: SEK 12.6b

Designs, acquires, and develops brands and products in the corporate, sports, gifts, and home furnishings sectors in Sweden, the United States, Central Europe, rest of Nordiac countries, Southern Europe, and internationally.

Nolato

Market Cap: SEK 13.4b

Develops, manufactures, and sells plastic, silicone, and thermoplastic elastomer products in Europe, Asia, North America, and internationally.

Alimak Group

Market Cap: SEK 12.3b

Alimak Group AB (publ) desigs and manufactures vertical access solutions in Europe, Asia, Australia, South and North America, and internationally.

Thule Group

Market Cap: SEK 23.0b

Operates as a sports and outdoor company.

Vitec Software Group

Market Cap: SEK 9.6b

Develops and delivers vertical market software solutions in Sweden, Denmark, Finland, Norway, the Netherlands, the United States, and internationally.

DNB Bank

Market Cap: NOK 421.7b

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

Dustin Group

Market Cap: SEK 2.0b

Engages in online information technology business in Sweden, Finland, Denmark, the Netherlands, Norway, and Belgium.

Stillfront Group

Market Cap: SEK 2.2b

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

Nederman Holding

Market Cap: SEK 4.7b

Operates as an environmental technology company.

Investor

Market Cap: SEK 1.1t

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

Arjo

Market Cap: SEK 7.0b

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

TradeDoubler

Market Cap: SEK 371.1m

Provides performance marketing and technology solutions for publishers and advertisers in Europe.

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.

Embracer Group

Market Cap: SEK 11.2b

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

Viva Wine Group

Market Cap: SEK 2.9b

Develops, markets, imports, and sells wines.

CAG Group

Market Cap: SEK 766.9m

Operates as an IT consulting company in Sweden.

CellaVision

Market Cap: SEK 3.7b

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

Mentice

Market Cap: SEK 381.1m

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

Calviks

Market Cap: SEK 237.6m

Provides recruitment and interim solutions in Sweden and Nordic countries.

Terranor Group

Market Cap: SEK 516.0m

Operates as infrastructure and road maintenance company in Sweden, Denmark, and Finland.

Bonava

Market Cap: SEK 3.3b

Operates as a residential developer in Germany, Sweden, Finland, Norway, Estonia, Latvia, and Lithuania.

Generic Sweden

Market Cap: SEK 437.6m

A technology company, provides messaging services for all applications.

Nobia

Market Cap: SEK 1.5b

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.

Cavotec Group

Market Cap: SEK 1.2b

A cleantech company, designs and delivers connection and electrification solutions to enable the decarbonisation of ports and industrial applications worldwide.

Ratos

Market Cap: SEK 11.5b

A private equity firm specializing in buyouts, turnarounds, add on acquisitions, and middle market transactions.

AddLife

Market Cap: SEK 17.0b

Provides equipment, consumables, and reagents primarily to healthcare sector, research, colleges, and universities, as well as the food and pharmaceutical industries.

Investor

Market Cap: SEK 1.1t

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

AAC Clyde Space

Market Cap: SEK 750.4m

Provides small satellite technologies and services in Sweden, the United Kingdom, rest of Europe, the United States, Asia, and internationally.