Inderes Group - Fight against the market - SEB
![](https://www.inderes.se/cdn-cgi/image/format=auto,width=128,height=128,quality=90,fit=cover/https://content.inderes.se/assets/0c2e0e92-cc1c-4eb6-b13a-f7dbd8bc22ad.png)
By SEB
With the Q2 report was broadly in line with SEBe and the July sales report, our estimate changes for 2024 are muted. We think that Inderes is fighting well against a diminishing market, which has not been helped by the recent market volatility. Swedish expansion is progressing, but in small steps. We take slightly more cautious view for 2025E growth and adjust our fair equity value range to EUR 19-21 per share from EUR 20-22 per share.
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Inderes
19.1
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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