Report
Douglas Lindahl ...
  • Emilie Krutnes Engen
  • Håkon Astrup
  • Hanna Lindbo
  • Joachim Gunell
  • Johan Skoglund
  • Johannes Grunselius
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Niklas Wetterling
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Simen Aas
  • Tomi Railo
Underlyings
Alimak Group AB

Alimak is engaged in the design, development, manufactue, distribution and servicing of vertical access solutions predominantly in rack-and-pinion, and also traction technologies. Co. supplies industrial elevators, hoists and work platforms based on rack-and-pinion technology. At the core of Co.'s products are the Alimak and Hek rack-and-pinion elevator, hoist and work platform brands as well as Heis-Tek traction elevator brand. Co. operates in the following operational segments: Construction Equipment; Industrial Equipment; Rental and After Sales.

ASSA ABLOY AB Class B

ASSA ABLOY provides a range of door opening solutions. Co. is organized into five divisions. Europe, Middle East and Africa division, Americas (North and South America) division and Asia Pacific (Asia, Australia and New Zealand) division manufacture and sell mechanical and electromechanical locks, security doors and hardware in their respective geographical markets. Global Technologies division operates worldwide in the product areas of access control systems, secure card issuance, identification technology and hotel locks. Entrance Systems division is a global supplier of entrance automation products and service.

Axfood AB

AxFood AB is a food retail company. Co. conducts food retail and wholesale business in Sweden. Retail business is conducted through the Willys, Hemkop and PrisXtra chains, with a total of 252 Co.-owned stores at Dec 31 2013. In addition, Co. collaborates with a number of proprietor-run stores that are tied to it through agreements, including stores in the Hemkop chain as well as stores operating under the Handlar'n, Tempo and Direkten brands. Wholesaling is conducted by Dagab and Axfood Narlivs, whose customers consist primarily of mini-markets, service stations and other convenience stores. Axfood Narlivs also operates 20 cash and carry outlets via the subsidiary, Axfood Snabbgross AB.

BillerudKorsnas AB

Billerud Korsnas Aktiebolag Public is a provider of packaging products and services. Co. has three business areas: Packaging Paper, which provides kraft and sack paper, as well as functional solutions for several applications, including packaging for foodstuffs, industrial purposes, medical applications and carrier bags, and also sells surplus of pulp that Co. does not use in its own production; Consumer Board, which develops and markets cartonboard used in packaging for beverages, yoghurt, refrigerated and frozen food products and other consumer goods; and Containerboard, which provides corrugated board raw material that provides packaging for transportation uses and primary packaging.

Carasent

Apptix is a provider of hosted business communication, collaboration, and infrastructure solutions to businesses of all sizes. Co.'s portfolio of Cloud solutions includes Microsoft® Exchange, SharePoint®, and Lync®, as well as hosted VoIP, encryption, archiving, and mobile device management. Co.'s hosted services are delivered across a network infrastructure and built upon hardware and software housed in Tier IV, SSAE 16 SOC 1 Type II certified, geographically dispersed interconnected data centers.

Coor Service Management Holding AB

Coor Service Management Holding AB is a Sweden-based company engaged in the business support services industry. The Company specializes in integrated facility management (IFM), including both soft and hard kinds of services, such as cleaning, reception, catering, post and parcel, strategic consulting and others. The services can be offered as single or package. The Company operates across Sweden, Finland, Norway and Denmark.

Dometic Group AB

Dometic Group AB serves the market with a range of air conditioners, refrigerators, awnings, cookers, sanitation, lightning, mobile power equipment, windows, doors and other comfort and safety products. The products are sold in approximately 100 countries and are mainly produced in wholly owned production facilities around the world.

Essity AB Class B

Fabege AB

Getinge AB Class B

Getinge is engaged in three business areas: Medical Systems, Extended Care and Infection Control. Medical System's product range includes surgical tables, surgical lamps, telemedicine, perfusion products, instruments for bypass operations, ventilators, anesthesia systems, synthetic vascular implants and stents. Extended Care's product range includes bathing and shower solutions, lifting equipment and mattresses for the treatment and prevention of pressure ulcers, as well as service and consulting. Infection Control's product range comprises disinfectors, sterilizers, information technology systems and related equipment, as well as service and consulting.

IAR Systems Group AB

Kone Oyj Class B

KONE is an elevator and escalator industry group based in Finland. Co. is engaged in the provision of products and services for the installation, modernization and maintenance of elevators, escalators and automatic building doors. Co. provides its products and services throughout the entire lifecycle of the equipment, beginning from the installation of new equipment to the maintenance and modernization during their lifecycle and the full replacement of the equipment. Co.'s customers are active in industry segments such as residential, office, retail, public transportation, hotel, hospital, and marine.

NCAB GROUP AB

NCC AB Class B

NCC AB is a construction and property development company. Co. develops and builds residential and commercial properties, and constructs industrial facilities and public buildings, roads, civil engineering structures and other infrastructure. Co. also provides input materials used in construction and paving and road services. Co. operates three businesses: Industrial, which are based on stone materials and asphalt production, as well as asphalt paving and road services; Construction and Civil Engineering, which consists of NCC Construction Sweden, NCC Construction Denmark, NCC Construction Finland and NCC Construction Norway; and Development, which encompass housing and commercial property.

Novozymes A/S Class B

Novozymes is a biotechnology company based in Denmark. Co.'s business operations are centered on the development of industrial enzymes, microorganisms, and biopharmaceutical ingredients. Co. provides business-to-business biological solutions used in the production of numerous products such as biofuel, detergents, feed, and crops. Co.'s business operations are organized along two segments: the Enzyme Business which is divided into four areas, providing industrial enzymes for household care, food & beverages, bioenergy, and feed & other technical; and the BioBusiness which is home to Co.'s microorganisms and biopharmaceutical ingredients.

Pandox AB Class B

Pandox AB is a hotel property company in northern Europe. The Company's principal business activities are the active ownership, development and leasing of large hotel properties in Stockholm, Gothenburg and Malmo, in Swedish regional and university cities and in capitals and other major cities in northern Europe. The Company's hotel properties are situated in such locations as city centers, airports and convention centers. Pandox' hotels are in the upper-medium to high price range and focus on the business and leisure segment. The Company's portfolio is comprised of 44 hotel properties in five countries (Sweden, Denmark, Germany, Belgium and the United Kingdom) totaling 8,143 rooms. The average number of rooms per hotel is 188. The Company's hotels are operated by such hotel operators as Hilton Group plc, Choice Hotels, Rezidor SAS, Best Western, Elite Hotels and First Hospitality, among others.

Skandinaviska Enskilda Banken AB Class A

Skandinaviska Enskilda Banken provides corporate, retail, investment and private banking services, as well as asset management and life insurance services. Merchant Banking provides wholesale and investment banking services to corporations and institutions. Retail Banking provides products mainly to private customers and small and medium-sized corporate. Wealth Management performs asset management and private banking activities and Life provides life, care and pension insurance. Division Baltic provides retail, asset management and private banking services in the Baltic countries. As of Dec 31 2013, Co. had total assets of SEK1,904.16 billion and total deposits of SEK821.47 billion.

SSAB AB Class A

SSAB is a supplier of high strength steels with products comprising various qualities and dimensions within wear steels and structural steels. Co.'s solutions also include services, from concept to finished delivery. SSAB Wear Services also provides advice, repairs, and sales of spare parts to the aftermarket. The business is organized into three business areas; SSAB Americas, SSAB EMEA and SSAB APAC as well as the subsidiary, Tibnor, which is a steel distributor in the Nordic region. SSAB EMEA consist of Europe, the Middle East and Africa; SSAB Americas of North and Latin America; SSAB APAC of Asia, Australia and New Zealand and Tibnor of steel and metal distribution in northern Europe.

Svenska Handelsbanken

Valmet Corp

Co. is a holding company. Through its subsidiaries, Co. is a supplier of paper and board machines, and process automation systems. Co.'s operations are divided into five segments: paper and board machinery, which makes paper, board and finishing machines; converting equipment, which supplies machinery for the packaging and printing industries; automation, which makes applications and solutions used for the measurement, control and information management of industrial processes; power transmission, which makes industrial gears and hydraulic motors, and automotive, which specializes in the production of cars.

XXL ASA

XXL ASA, formerly known as Megasport AS, is a Norway-based retailer of sporting goods. The Company offers a portfolio of products including clothing, shoes, bicycles, wilderness products, sports equipment, training supplies and equipment, lifestyle and wellbeing products, fishing and hunting equipment, dog toys and accessories, riding clothing and accessories, as well as clothing, equipment and accessories for winter sports. Additionally, it offers services such as bike repair and maintenance, hunting excursion and courses, fishing trips, riding holidays, and dog training. The Company operates via around 40 stores, primarily in Norway but also in Sweden and Finland, and via an e-commerce platform.

Provider
DnB Markets
DnB Markets

DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.

 

Analysts
Douglas Lindahl

Emilie Krutnes Engen

Håkon Astrup

Hanna Lindbo

Joachim Gunell

Johan Skoglund

Johannes Grunselius

Karl-Johan Bonnevier

Mattias Holmberg

Nicolas McBeath

Niklas Wetterling

Ole Martin Westgaard

Ole-Andreas Krohn

Patrik Ling

Rune Majlund Dahl

Simen Mortensen

Simen Aas

Tomi Railo

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