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Talenom styrker sin position i Spanien med et lille opkøb

TNOMAnalyst Comment21.05.2026, 07.00
Juha KinnunenAnalyst
Discuss

Summary

  • Talenom har annonceret opkøbet af det spanske regnskabsfirma Seico Legal, som har en årlig omsætning på cirka 0,6 MEUR.
  • Opkøbet er en del af Talenoms strategi om at styrke sin position på det fragmenterede spanske marked gennem supplerende opkøb.
  • Seico Legal tilbyder regnskabs-, skatte- og HR-tjenester til SMV'er, og dets otte medarbejdere vil fortsætte hos Talenom.
  • Opkøbet forventes ikke at ændre koncernens overordnede estimater væsentligt, men kan føre til en mindre opjustering af vækstestimaterne for Spanien.

Dette indhold er genereret af AI. Du kan give feedback om det på Inderes forum.

Automatisk oversættelse: Oprindeligt udgivet på finsk 21.5.2026, 05.00 GMT. Giv feedback her.

Talenom meddelt onsdag, at det ville erhverve Seico Legal, et regnskabsfirma, der opererer i Zaragoza, Spanien. Den årlige omsætning på cirka 0,6 MEUR for det erhvervede selskab er lille i den samlede sammenhæng og svarer kun til cirka en halv procent af vores omsætningsestimat på 113 MEUR for indeværende år. Vi anser transaktionen for at være en forventet og logisk fortsættelse af selskabets strategi om at opbygge kritisk masse på det fragmenterede spanske marked gennem supplerende opkøb.

Seico Legal tilbyder regnskabs-, skatte- og HR-tjenester til SMV'er i regionen, og dets otte medarbejdere vil fortsætte med at arbejde for Talenom. Talenom er vokset hurtigt i Spanien, og vi forventer, at landets omsætning vil overstige 21 MEUR i år. Spaniens rentabilitet har derimod stadig meget at forbedre, selvom den delvist er belastet af opkøb og andre vækstinvesteringer. Det lille opkøb giver ikke anledning til væsentlige ændringer i estimaterne på koncernniveau, men vækstestimatet for Spanien kan blive revideret en smule opad. Opkøbet har ingen indflydelse på vores investeringsbetragtning.

Talenom is an accounting firm that offers a wide range of services within accounting, invoice management and payroll. In addition to the main business, financial analysis and the possibility of real-time control via the company's web services are offered. The largest proportion of customers are found among small and medium-sized corporate customers in the Nordic market. The company was founded in 1972 and has its headquarters in Oulu.

Read more on company page

Key Estimate Figures07.05

202526e27e
Revenue107.6113.3120.3
growth-%1.8 %5.2 %6.2 %
EBIT (adj.)5.96.28.6
EBIT-% (adj.)5.5 %5.5 %7.1 %
EPS (adj.)0.060.050.09
Dividend0.050.050.05
Dividend %1.7 %4.2 %4.2 %
P/E (adj.)53.526.112.8
EV/EBITDA11.46.35.4

Forum discussions

Thank you too! Although this is a bit of hindsight, dealing with mistakes and failures is useful for an investor. In my opinion, what Kamux,...
7/5/2026, 12:54 PM
by JP199
6
Thanks for the response, it was excellent! I’ve been trying to use that risk gauge on a rough level to structure my own portfolio so that “play...
7/5/2026, 10:01 AM
by Moogle
8
I don’t know on what basis Talenom’s risk gauge positions are determined, but looking at the gauges alone can easily lead you astray. After ...
7/5/2026, 6:43 AM
by JP199
15
Hi! Back in the day, I bought Talenom for my portfolio as a “low-risk” stock. Based on the price performance and in the interest of my own learning...
7/5/2026, 5:45 AM
by Moogle
12
This Säästöpankki Itämeri (Baltic Sea) fund has now completely disappeared from the list, and SEB’s nominee register continued its sales as ...
7/1/2026, 10:38 AM
by Karhu Hylje
14
Hi, Apologies for the delay, I’ve been trying to take some vacation time I’ll write down some thoughts now, but we can go through this more ...
6/24/2026, 7:07 AM
by Juha Kinnunen
49
Talenom’s fresh business barometer with figures from April. I assume this reflects the revenue development of Talenom’s customer base relatively...
6/23/2026, 7:24 AM
by Karhu Hylje
14