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Research

Inderes Group - Fight against the market - SEB

By SEB
Inderes
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With the Q2 report was broadly in line with SEBe and the July sales report, our estimate changes for 2024 are muted. We think that Inderes is fighting well against a diminishing market, which has not been helped by the recent market volatility. Swedish expansion is progressing, but in small steps. We take slightly more cautious view for 2025E growth and adjust our fair equity value range to EUR 19-21 per share from EUR 20-22 per share.

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Inderes operates in the financial industry. The company provides a community platform for investors and listed companies. Via the platform, users can communicate with each other and exchange investment tips. The customers consist of both companies and private individuals. In addition, the company offers analysis services and a basis for investment decisions. The largest operations are in the Nordic region.

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Forum discussions

Mikael has commented that the fund business would not be compatible with the goal of independence:
5 hours ago
by Ilkka
6
Inderes would now have a golden opportunity to set up a “Small & mid-cap Nordics” fund There wouldn’t be a need to pay high valuations, as prices...
9 hours ago
by Kulta-Into Pii
6
@_TeemuHinkula interviewed @Tuulikki_Rautiainen about Inderes’ organizational model, among other things. Topics: 00:00 Start 01:35 Tuulikki ...
15 hours ago
by Sijoittaja-alokas
22
Q4 2025 Community Metrics Update Steady growth on the forum Social media has started to wake up There aren’t many of us shareholders left
1/7/2026, 1:46 PM
by @TeemuHinkula
47
Juha Ollikainen was responsible for the largest selling pressure in December, disappearing from the December shareholder list: Pauli Lohi also...
1/2/2026, 8:46 AM
by Karhu Hylje
28
Greetings to the Forum! Here is the Inderes Q4 preview we promised for this year. We also want to highlight a change in our team composition...
12/29/2025, 6:31 AM
62
Here’s a fresh look at Inderes from Sebu. Inderes delivered solid monthly sales in November with sales increasing by 15% y/y. The strong growth...
12/12/2025, 5:38 PM
by Sijoittaja-alokas
21
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Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.