Inderes Group - Adverse market conditions visible in growth - SEB
Inderes’ Q2 earnings miss was relatively large, given it owed to June sales. Although our estimates underestimated the seasonality of the Swedish operations and AGM season, we conclude that organic growth was muted. An inactive IPO market is not supporting growth; thus, the growth outlook has become dimmer. We make hefty short-term estimate cuts and lower our fair value range to EUR 23-26.
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Inderes
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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