Report
ABGSC Retail Research ...
  • Benjamin Wahlstedt
  • Nikola Kalanoski

Set for accelerated growth in '25e

Minor estimate revisions. Falling freight rates positive for Humble's gross margin. '25e EV/EBITA ~9x, ~40% below peers.
Underlying
Bayn Europe AB

Bayn Europe AB is a Sweden-based company engaged in the development, marketing and sales of natural sweeteners to the European food and beverage industry. Its product portfolio comprises the EUREBA product range, based on stevia, a natural sugar substitute, and designed as an alternative to sugar and artificial sweeteners. The range comprises EUREBA Basic, a stevia extract; EUREBA Intense, comprising blends with other natural ingredients for bulk, taste profile and cost-in-use; and EUREBA Functional, an industrial recipe for tailor-made applications; as well as knowledge and application support for the customers. The Company has agreements with several Chinese stevia manufacturers. It also cooperates with Barentz, a European distributor of food and beverage, and R2 Group, a Danish production and distribution company providing food ingredients and solutions to the Nordic market.

Provider
ABG Sundal Collier Sponsored
ABG Sundal Collier Sponsored

ABG Sundal Collier is the independent, Nordic investment banking powerhouse, developed over 30 years, founded on a hard working partnership culture and the ability to attract top talent.

Our strategy is to be an advisor and an intermediary, and the core product offering comprise corporate advisory services, corporate financing services and investor research and brokerage services.

Our corporate advisory team offers access to a broad financial and industrial network and unparalleled transaction experience. We provide financing to corporates through our superior Nordic and international distribution platform, and we are optimally structured for naturally matching trading flows, delivering best execution for clients.

The group employ approx. 250 staff working from the Nordic offices in Norway, Sweden and Denmark and in the offices in the key international markets US, UK and Germany. 


Analysts
ABGSC Retail Research

Benjamin Wahlstedt

Nikola Kalanoski

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