contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


inderes-group-q4-clear-miss-driven-weak-project-business-seb

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

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.

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 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.                   Inderes              Inderes Group - Strong CMD season backs clear beat in November - SEB    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...

Inderes’s stock has poor liquidity. The only ways to sell a large quantity of the stock are to find a buyer or good news. This time, the good news was a second consecutive good month. Realizing losses can be a perfectly good reason to sell. The stock doesn’t look particularly cheap unless one believes things will improve. I myself believe in it to some extent, and on the other hand, that management will find a new growth path if the current ones don’t really take off as expected. That’s why I doubled my holdings for a significant sale. The same applies to buyers as to selling. You have to trade when there’s a counterparty. Today, perhaps 6,000 shares wouldn’t have been available.

Indeed, those 26 figures have quite high growth numbers built in if one compares them to the 2024 adjusted EPS. Will the growth materialize and from which components is likely the question?

Regarding this, I believe that the management already has such a large ownership in the company that it would not be good (even for the market) for them to increase it.

Good growth figures from Inderes in November  After the profit warning, we have received two good sets of monthly figures, and the IPO window has also picked up pace. Overall, there has been a positive sentiment in the stock markets, meaning the drivers for Inderes’ stock should also be rather positive. Yet, the share price has continued its downward trend, and for me, the only clear negative driver is potential year-end tax sales. That’s why I’m asking the rest of you, am I missing any negative developments? Has anyone in Sweden noticed any more sluggish developments? Are some investors afraid that AI will take the market from Inderes? Has Inderes faced tougher competition in some segments than before, and is future profitability no longer believed in as it used to be? Something else? In the same context, it’s probably wise to note that the management has also not been interested in Inderes’ stock, whose valuation multiples have recovered. Share your thoughts and tell us what threatens us as owners. Thanks in advance! Aaron Kaartinen pondered about Inderes’ stock like this yesterday on X:

@studentcoverage_team has given their comments on Inderes’ performance.  Inderes’ revenue grew by 15% in November and was EUR 1.8 (1.6) million. The growth continued October’s strong development, and the combined revenue for October–November is EUR 3.6 (3.2) million, which corresponds to approximately 12–13% growth compared to the reference period. The strong development over two consecutive months is a clear boost to the exceptionally weak project revenue of the third quarter.                   Inderes              Marraskuun liikevaihto jatkoi piristymistä - Inderes    Inderesin liikevaihto kasvoi marraskuussa 15 % ja oli 1,8 (1,6) miljoonaa euroa. Kasvu jatkoi lokakuun vahvaa kehitystä, ja lokakuun–marraskuun yhteenlaskettu liikevaihto on 3,6 (3,2) miljoonaa euroa, mikä vastaa noin 12–13 %:n kasvua vertailukauteen...

Regarding Nokian Panimo, Evli is a natural choice as both an IPO and analysis partner, as the company’s main owner is Evli’s founder and was chairman until recently. An analysis client relationship with Inde could be more likely if growth investments genuinely lead to growth. My belief is that analysis clients will gradually start flowing to Inde from these listed companies. Let’s hope that the windows to the stock market remain more open in the future and sales cycles are shorter than with Bittium before Russia’s war of aggression.

Inderes

Inderes's Q4 sales were surprisingly well below our estimate, given that the delta owes purely to December. Due to fixed costs driven cost base the absolute miss in EBITA was almost equal to the top-line miss and was clearly below our estimate. The number of commissioned research agreements continued to rise, which we find to be the positive spot of the report. In its guidance the company sees 2024 sales to grow and EBITA margin to improve vs. 2023.

<p>Inderes's Q4 sales were surprisingly well below our estimate, given that the delta owes purely to December. Due to fixed costs driven cost base the absolute miss in EBITA was almost equal to the top-line miss and was clearly below our estimate. The number of commissioned research agreements continued to rise, which we find to be the positive spot of the report. In its guidance the company sees 2024 sales to grow and EBITA margin to improve vs. 2023.</p> 

Inderes Group - Q4: Clear miss driven by weak project business - SEB

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