Swedish Potentially Undervalued Companies

VBG Group

Market Cap: SEK 9.5b

Develops, manufactures, markets, and sells various industrial products in Sweden, Germany, rest of the Nordic countries and Europe, the United States, rest of North America, Brazil, Australia, New Zealand, China, and internationally.

Green Landscaping Group

Market Cap: SEK 2.6b

Engages in the green space management and landscaping business in Sweden, Norway, and rest of Europe.

DistIT

Market Cap: SEK 154.4m

Distributes accessories for IT, mobility, consumer electronics, networks, and data communications in Sweden, Finland, Denmark, Norway, and rest of Europe.

Ferronordic

Market Cap: SEK 661.2m

Sells, rents, and services construction equipment, trucks, and other machines in Kazakhstan, Germany, and the United States.

Elanders

Market Cap: SEK 2.2b

A logistics company, provides supply chain, and print and packaging solutions in Sweden, Germany, the United States, Singapore, the United Kingdom, the Netherlands, India, China, Switzerland, Poland, Hungary, and internationally.

Fractal Gaming Group

Market Cap: SEK 869.3m

Offers PC gaming products in Sweden an internationally.

Swedish Orphan Biovitrum

Market Cap: SEK 115.9b

A biopharma company, provides medicines in the areas of haematology, immunology, and specialty care in Europe, North America, the Middle East, Asia, and Australia.

Bactiguard Holding

Market Cap: SEK 573.0m

A medTech company, provides infection prevention technology and solutions in orthopedics, cardiology, neurology, urology, and vascular access areas.

Modern Times Group MTG

Market Cap: SEK 13.6b

Through its subsidiaries, engages in the provision of game franchises in Sweden, the United Kingdom, Germany, rest of Europe, Singapore, India, the United States, and New Zealand.

Raketech Group Holding

Market Cap: SEK 88.8m

Operates as an affiliate and performance marketing company worldwide.

Garo Aktiebolag

Market Cap: SEK 827.0m

Develops, manufactures, and markets electrical installation materials in Sweden, Norway, Ireland, the United Kingdom, Finland, Denmark, Austria, Poland, Belgium, and internationally.

HEXPOL

Market Cap: SEK 29.0b

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.

Evolution

Market Cap: SEK 127.6b

Develops, produces, markets, and licenses online casino systems to gaming operators in Europe, Asia, North America, Latin America, and internationally.

Betsson

Market Cap: SEK 19.3b

Through its subsidiaries, invests in and manages online gaming business in the Nordic countries, Latin America, Western Europe, Central and Eastern Europe, Central Asia, and internationally.

Ratos

Market Cap: SEK 12.0b

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

Telefonaktiebolaget LM Ericsson

Market Cap: SEK 300.9b

Provides mobile connectivity solutions to communications service providers, enterprises, and the public sector.

CoinShares International

Market Cap: SEK 8.7b

Engages in the creating financial products with digital assets and blockchain technology business in Jersey.

Lohilo Foods

Market Cap: SEK 66.9m

Operates as a food company in Sweden and internationally.

Careium

Market Cap: SEK 630.0m

Provides technology-enabled care services in Sweden, Norway, the United Kingdom, the Netherlands, Germany, France, and Spain.

Essity

Market Cap: SEK 177.8b

Develops, produces, and sells hygiene and health products and services in Europe, North and Latin America, Asia, and internationally.

HAKI Safety

Market Cap: SEK 671.5m

Provides safety products and solutions for infrastructure, energy, industry, aviation, rail and construction, and civil engineering industries in Europe and North America.

Infrea

Market Cap: SEK 389.8m

Engages in maintaining, improving and expanding infrastructure in Sweden.

Humana

Market Cap: SEK 2.3b

Provides individual and family care services for children and adults in Sweden, Finland, Norway, and Denmark.

InfraCom Group

Market Cap: SEK 729.3m

Provides cloud-based telephony, IT, and network services.

Svedbergs Group

Market Cap: SEK 3.1b

Develops, manufactures, and markets bathroom products in the Nordic region, the United Kingdom, and the Netherlands.

Peab

Market Cap: SEK 22.2b

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

Norion Bank

Market Cap: SEK 13.2b

Provides financial solutions for medium-sized corporates and real estate companies, merchants, and private individuals in Sweden, Germany, Norway, Denmark, Finland, and internationally.

Transtema Group

Market Cap: SEK 326.4m

Transtema Group AB installs, maintains, and manages the operation of various communication networks in the Nordic region.

Eolus Aktiebolag

Market Cap: SEK 900.4m

Primarily engages in the development, construction, and operation of renewable energy assets in Sweden, Finland, the United States, Poland, Spain, and the Baltic states.

Sinch

Market Cap: SEK 22.1b

Provides cloud communications services and solutions for enterprises and mobile operators.

AB SKF

Market Cap: SEK 110.0b

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

Novus Group International

Market Cap: SEK 35.1m

Novus Group International AB operates as an analysis and survey company in Sweden.

BrainCool

Market Cap: SEK 151.5m

A medical device company, together with its subsidiaries, engages in the development, marketing, and sale of medical cooling systems for the healthcare sector in Sweden.

Alligo

Market Cap: SEK 5.8b

Engages in the provision of workwear, personal protective equipment, tools, and consumables in Finland, Sweden, and Norway.

Saniona

Market Cap: SEK 2.2b

A clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of treatments for rare disease patients in Sweden, the United States, Germany, Denmark, and the United Kingdom.

Catella

Market Cap: SEK 2.2b

A real estate investment firm.