Kreate's growth will accelerate significantly this year as the company grows organically in both Finland and Sweden, supported by a strengthening order backlog. In addition, growth is boosted by the completed SRV Infra acquisition.
While we see strategic logic in the Lacon acquisition, we believe the deal's value creation is primarily based on profitably growing Lacon as part of Incap and realizing commercial synergies between the companies, given a neutral valuation at best at the outset.
Read the latest SP Group One-pager following its acquisition of Idé-Pro, which includes a brief description of SP Group, valuation perspectives relative to a peer group, and several key investment risks and investment reasons.
Curasight has entered a new clinical phase with both arms of its uPAR-based theranostic platform now in clinical development, following the successful first patient dosing in the Phase I uTREAT® trial in glioblastoma and continued progress in the Phase II uTRACE® prostate cancer study under the partnership with Curium. With diagnostic proof-of-concept already established across multiple indications, the transition of uTREAT® into human trials materially expands the company’s addressable market and shifts investor focus toward the therapeutic upside embedded in the platform.
Talenom issued a profit warning, published Easor's listing prospectus, acquired three small accounting firms in Spain, provided guidance for both businesses for next year, and organized an investor webcast.
In connection with yesterday’s adjustments to the 2025 guidance, WindowMaster has also provided guidance for 2026. The update points to a clear inflection in profitability, supported by improving order momentum and strong operational gearing.
In recent years, the strategy has focused on selected industries, in selected growth markets, and on the own platform. The strategy resonates, but still requires proof of a breakthrough. Now the company must demonstrate a return to better organic growth and its scalability to profitability.
Flügger delivered 2.2% revenue growth in H1 2025/26 to MDKK 1,264, as strong growth in Poland (International segment (12% y/y) and Sweden (+8% y/y) offset revenue declines in Denmark and other export nations. In the Nordics, a conversion of white-label volumes to own-brand sales in Denmark lifted margins; however, Group EBIT was stable at MDKK 141 (from MDKK 140 H1 2024/25), as terminated sales to nations in Eastern Europe and other non-core export markets had a negative impact on the International segment’s EBIT result year-over-year. Despite weaker EBIT expansion than projected in H1 2025/26 the structural value drivers of margin expansion in the Nordics from improved product mix and strong, higher margin growth in Poland remain unchanged. We still see a favourable risk-reward as Flügger executes its profitable rebound, despite possible sanctions-related risks, and reiterate our “Accumulate” recommendation and slightly lower price target of DKK 360 per share.
Aktia's earnings have risen significantly with interest rates, and the recovery in loan demand and steady growth in Asset Management should keep profitability relatively stable in the coming years.
