Connecting investors and companies

Inderes delivered solid monthly sales in November with sales increasing by 15% y/y. The strong growth owes to improved CMD activity. The sales beat our estimate by EUR 0.2m, which was the case also in October. Consequently, after two months of reporting in Q4 the sales run-rate is some EUR 0.4m above our current projection. Our positive read-x is also supported by the fact that Inderes has managed to win CMDs also in Sweden.

37:35

In this interview, we sit down with Verve Group’s CEO Remco Westermann reflecting on 2025 and the path forward.

The game will be released in 2026, which is earlier than our current forecast (H1'27).

We believe this new brand partnership is a positive addition to Spinnova's network of partners and will support the long-term outlook for demand of fiber produced using the company's technology. However, we do not believe that the agreement will have a significant financial impact in the near future. Reducing technology investment and production costs and identifying technology investment partners continue to play a key role in the company's commercialization efforts.

Of the 35 MEUR convertible bond financing, 25 MEUR has now been drawn.

However, with the valuation decrease due to the recent around 10% price drop (2026e: P/E 12x), we feel the expected return has improved and risen slightly above the required return. In our view, Scanfil also offers an attractive investment story of profitable growth in the longer term.

We have reviewed our estimates following Sanoma's Capital Markets Day and updated financial targets.

31:45

Jukka Tapaninen, CEO, talks about medical software company Aiforia as an investment.

The share issue was expected, although it took place slightly earlier than we predicted, was smaller, and at a slightly lower valuation.

Scanfil announced on Tuesday evening that it had completed the acquisition of US electronics contract manufacturer ADCO Circuits. We believe ADCO is a good strategic fit for Scanfil, and the valuation of the arrangement is also moderate, so the value creation potential of the rather small transaction seems promising.

Taaleri's guarantee insurance company Garantia announced on Wednesday that it completed its first credit risk insurance project outside Finland during the fall.

We continue to see strong long-term growth and value creation potential for the company, and the share valuation has moderated as well.

17:27

Kari Vyhtinen, CEO, talks about mining and exploration company Endomines as an investment.

The rapid sales growth is attributable to the record-fast expansion of the store network and moderate like-for-like growth.

28:25

Antti Vuolanto, CEO, talks about biotechnology company Herantis Pharma as an investment.

27:26

Tuukka Hirvonen, Head of Investor Relations, talks about pharmaceutical company Orion as an investment.

14:40

Antti Siltanen, Life Science Analyst, PhD, talks about life science companies as investments.

Welcome to follow Life Science Night on Tuesday, December 9 at 3:30 pm EET on inderesTV.