Swedish Media Potentially Undervalued Companies

Stillfront Group

Market Cap: SEK 2.7b

Through its subsidiaries, designs, develops, markets, publishes, and sells digital games in Europe, North America, the United Kingdom, and the Middle East and North Africa region.

Embracer Group

Market Cap: SEK 23.9b

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

G5 Entertainment

Market Cap: SEK 982.7m

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

Modern Times Group MTG

Market Cap: SEK 14.0b

Through its subsidiaries, provides game franchise services in Sweden, the United Kingdom, Germany, rest of Europe, Singapore, India, the United States, and New Zealand.

Maximum Entertainment

Market Cap: SEK 25.6m

An entertainment company, engages in the development, publishing, transmedia, sale, and operation of video games worldwide.

Adtraction Group

Market Cap: SEK 518.1m

Provides advertising services in Europe.

Verve Group

Market Cap: SEK 627.9m

Operates a software platform for the automated buying and selling of digital advertising space in North America and Europe.

Karnov Group

Market Cap: SEK 9.4b

Provides online and offline information products and services for professionals in the areas of legal, tax and accounting, environmental, and health and safety in Denmark, Norway, France, Sweden, Portugal, and Spain.

M.O.B.A. Network

Market Cap: SEK 163.3m

Owns and operates various gaming communities worldwide.

Better Collective

Market Cap: SEK 7.5b

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

Eniro Group

Market Cap: SEK 364.0m

Operates as a software-as-a-service company in Sweden, Norway, Denmark, and Finland.

Readly International

Market Cap: SEK 572.4m

Provides digital subscription services for magazines and daily newspapers through an application in Sweden, Germany, the United Kingdom, France and internationally.

Moment Group

Market Cap: SEK 188.4m

Moment Group AB, together with its subsidiaries, involved in the entertainment business in Sweden, Norway, and Denmark.

Modern Times Group MTG

Market Cap: SEK 14.0b

Through its subsidiaries, provides game franchise services in Sweden, the United Kingdom, Germany, rest of Europe, Singapore, India, the United States, and New Zealand.

Enad Global 7

Market Cap: SEK 1.1b

Engages in development, marketing, publishing, and distribution of PC, console, and mobile games in Sweden, rest of Europe, North America, South America, Asia, Africa, and Oceania.

MAG Interactive

Market Cap: SEK 231.0m

Develops and publishes mobile games worldwide.

Paradox Interactive

Market Cap: SEK 20.0b

Develops and publishes strategy and management games on PC and consoles in North and Latin America, Europe, the Middle East, Africa, and the Asia Pacific.

Starbreeze

Market Cap: SEK 265.6m

Develops, creates, publishes, and distributes PC and console games in Europe and North America.

Nitro Games Oyj

Market Cap: SEK 41.4m

Develops and publishes games for mobiles in the European Union, North America, the United Kingdom, and internationally.

Storytel

Market Cap: SEK 7.3b

Provides audiobooks and e-books streaming services.

Starbreeze

Market Cap: SEK 265.6m

Develops, creates, publishes, and distributes PC and console games in Europe and North America.

Envar Holding

Market Cap: SEK 218.8m

Engages in the outsourcing and development of graphic design, 3D graphics, animations, and illustrations to game development companies or other companies in the entertainment industry.