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Componenta's Q1 report exceeded our forecasts due to excellent profitability and a better-than-expected order backlog.

Despite the strong growth outlook, we still consider the stock highly priced.

The repayment of the 1.5 MEUR bond will be staggered over three years, which eases the company's debt repayment schedule from a cash flow perspective.

The Board will return EUR 0.02 per share in capital, even though the company's hybrid bond interest rate is as high as 10%.

Short-term earnings improvement hinges on Dollarstore’s turnaround.

Compared to the earnings growth outlook for the coming years, Teleste's share valuation appears moderate.

Mandatum published a Q1 result that was clearly below our expectations.

Adjusted EBIT exceeded our estimate, driven by efficiency measures and a strong gross margin.

The order book was also at a better level than we expected.

Enersense's Q1 operating result exceeded our forecast in the seasonally slowest quarter.

Orthex's profitability in Q1 exceeded our expectations, but the prolonged conflict in the Middle East has weakened the company's outlook.

While the headline miss was meaningful, in our view the underlying read was more constructive than the print suggested, supported by very strong order intake and a record-high Civil Engineering order backlog

We believe Metacon started the year on a solid footing, driven by increased execution of its order backlog and an improved operating loss. While we view these developments as clear positives for the quarter, we continue to place significant emphasis on order intake, as a steady flow of new contracts is essential for the company to ultimately achieve self-funded growth. Although the company provided improved visibility into its sales pipeline in connection with the Q1 report, indicating that activity levels remain strong, we have yet to see these discussions translate into concrete orders. As a result, we believe forecast risk remains elevated and have therefore adopted a more cautious stance in our near-term estimates. Nevertheless, this has a modest impact on our long-term estimates, and we therefore maintain our target price at SEK 0.40 per share. However, given the recent surge in the share price, we lower our recommendation to Accumulate (previously Buy). Overall, we still see an attractive risk/reward profile at current valuation levels, with expected returns exceeding our required return.

Sanoma's Q1 performance was largely as expected, although Media Finland's improved margin was a positive surprise.

The company reiterated its guidance for an improved full-year result, but our forecast declined to last year's level.

We expect Harvia to continue its strong earnings growth and value creation in the coming years, which offers a good expected return.

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Byggmästaren's CEO Tomas Bergström will be joining Verneri Pulkkinen as a guest on ROAST. The live stream kicks off on Thursday, May 7, 2026 at 2:00 PM Swedish time, 3:00 PM Finnish time.