Swedish Potentially Undervalued Companies

CellaVision

Market Cap: SEK 4.0b

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

Intrum

Market Cap: SEK 5.3b

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

Inwido

Market Cap: SEK 8.4b

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

Arjo

Market Cap: SEK 8.8b

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

SSAB

Market Cap: SEK 65.7b

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 2.4b

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

Bilia

Market Cap: SEK 11.6b

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

Embracer Group

Market Cap: SEK 20.3b

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

Husqvarna

Market Cap: SEK 25.8b

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

Afry

Market Cap: SEK 17.6b

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 65.7b

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

AB SKF

Market Cap: SEK 111.7b

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

G5 Entertainment

Market Cap: SEK 707.9m

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

Loomis

Market Cap: SEK 25.2b

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

Netel Holding

Market Cap: SEK 189.7m

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

ADDvise Group

Market Cap: SEK 707.4m

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.

Adtraction Group

Market Cap: SEK 460.0m

Provides advertising services in Europe.

Solstad Maritime

Market Cap: NOK 8.6b

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.

Stillfront Group

Market Cap: SEK 3.5b

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

DNB Bank

Market Cap: NOK 398.5b

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

Hacksaw

Market Cap: SEK 19.0b

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

Ratos

Market Cap: SEK 12.1b

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

NOTE

Market Cap: SEK 5.1b

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

Nobia

Market Cap: SEK 2.7b

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.

Avensia

Market Cap: SEK 315.5m

Provides e-commerce solutions in Sweden.

Iconovo

Market Cap: SEK 67.7m

Develops and licenses inhalation medications in Sweden.

Arcoma

Market Cap: SEK 101.6m

Develops, produces, and provides radiology solutions and digital x-ray systems in Sweden and internationally.

Ambea

Market Cap: SEK 11.7b

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

ES Energy Save Holding

Market Cap: SEK 109.0m

Develops heat pumps for commercial buildings.

Camurus

Market Cap: SEK 36.8b

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 424.7m

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 475.5m

Engages in providing sleep tracking applications in Sweden.

Ework Group

Market Cap: SEK 1.6b

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.

BW Energy

Market Cap: NOK 10.1b

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

Angler Gaming

Market Cap: SEK 269.9m

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

Vitrolife

Market Cap: SEK 20.4b

Provides assisted reproduction products in Europe, the Middle East, Africa, Asia-Pacific, and the Americas.