Swedish Undervalued based on future growth

Careium

Market Cap: SEK 681.1m

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

HAKI Safety

Market Cap: SEK 635.7m

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

B3 Consulting Group

Market Cap: SEK 490.2m

Operates as a consultancy company that provides IT and management consultancy services in Sweden.

Netel Holding

Market Cap: SEK 483.2m

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

Eniro Group

Market Cap: SEK 307.1m

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

Ogunsen

Market Cap: SEK 282.4m

Offers recruitment and consultancy services for specialists and managers in economics and finance sectors in Sweden.

Angler Gaming

Market Cap: SEK 269.9m

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

Fable Media Group

Market Cap: SEK 169.9m

Invests in marketing businesses.

Calviks

Market Cap: SEK 163.5m

Operates as a recruitment company in Sweden and Norway.

Clemondo Group

Market Cap: SEK 132.2m

Develops, manufactures, and sells a range of hygiene and cleaning products for automotive, medical care, and industrial sectors in Sweden.

Nitro Games Oyj

Market Cap: SEK 37.8m

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