We are discontinuing our coverage of Mendus as the company has terminated the equity research agreement. Consequently, we will no longer be giving a target price (was SEK 14) or a recommendation (was Accumulate) for the stock.

The latest SKAKO one-pager following the Q3 2024 results looks at the outlook for 2025 and 2026, following SKAKO’s record order for DKK 150m during the quarter. The company reduced its topline guidance slightly in connection with the Q3 results, now expecting revenue growth of -2% to 1% (previously 2% - 5%) while maintaining its EBIT guidance for DKK 24-28m, but now at the lower end. The large order with OCP, relating to a large phosphate mining project in Morrocco is expected to support revenue growth in 2025 and 2026.

The IT services sector's Q3 results were met with a cautious mood after five companies in the sector issued profit warnings in just over a month. The decline in working day-adjusted organic revenue development for the sector's companies accelerated slightly as customers continued to economize, although the comparison period was already weak for most of them. Profitability, on the other hand, was significantly higher year-on-year, but the group was clearly divided between strong and weak performers.

Scandinavian Medical Solutions har i dag aflagt regnskab for 2023/24 (1. oktober 2023 til 30. september 2024), der var inden for selskabets forventninger samt annonceret guidance for regnskabsåret 2024/25 med forventninger om en omsætningsvækst på mellem 6-19% og et forbedret EBITDA.

Dagens aktienyheder med Vestjysk Bank, Penneo A/S, Scandinavian Medical Solutions og Curasight

Metacon’s Q3 results were mixed, with revenue aligning with our expectations while costs were significantly higher, reflecting the company’s preparations for larger-scale deliveries. With short-term funding soon in check, Metacon can focus on fulfilling the large-scale order from Motor Oil, with clear signs of progress expected to be visible next year. However, given the uncertainty of whether the company will continue to receive larger orders regularly and at what profitability level, the forecast risks remain high.

The report was in line with our expectations. We expect the profitability turnaround to continue in the coming years, but this is priced in at the current stock price and the expected risk-adjusted return is weak for the next 12 months. Analyst Aapeli Pursimo summarizes.

I dette afsnit af Aktier i Vælten har vi set nærmere på Bavarian Nordic efter, at selskabets Q3 2024 resultater blev offentliggjort i fredags, og vaccineskeptikeren Robert F. Kennedy Jr. er udpeget af Trump som USA's kommende sundhedsminister. Efter det store kursfald i aktien har vi bl.a. set nærmere på de seneste nyheder, analytikernes estimater og værdiansættelsesmultipler.

Vestjysk Bank har her til formiddag offentliggjort sit regnskab for 3. kvartal 2024 der viser en god resultatmæssig fremgang – både på kvartalet og i hele perioden år-til-dato. Vestjysk Bank fastholder dog sin guidance for hele 2024.

Co-Head of Research Petri Gostowski opens up about the best and worst parts of his role, how he ended up at Inderes and what his dream-job was as a child.

Scandinavian Medical Solutions har her til morgen annonceret et stort salg til en kunde i USA inden for selskabets Aftersales & Parts forretning. Værdien er inden for intervallet på mellem DKK 3,5 til under 5,0 mio. jf. selskabets informations- og kommunikationspolitik. Overlevering af udstyret er sket i uge 46 2024 og indgår dermed i det nye regnskabsår 2024/25 (1. oktober 2024 til 30. september 2025).

Dagens aktienyheder med Impero - Compliance. Simplified. og Roblon A/S

Roblon gav i går aftes en status på selskabets frasalg af de amerikanske aktiviteter, samtidig med at der meldes ud om selskabets foreløbige ureviderede resultat for 2023/24, og forventningerne til 2024/25.

Last week, Impero announced its Q3 2024 results, accelerating its ARR growth to 31% YoY and improving its EBITDA. Moreover, Impero's cash flow from operations was positive for the first nine months of 2024, and the FCF/Net New ARR (12 months rolling) improved to -0.7x in Q3 2024. We have updated our investment case one-pager after the Q3 2024 results.