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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 %4.4 %4.4 %
P/E (adj.)53.524.912.2
EV/EBITDA11.46.25.3

Forum discussions

A small correction to the summary of the company report published last week: "Talenom reiterated its guidance for 2024, but forecast revisions...
10/28/2026, 7:36 AM
by Antti Kahilakoski
0
Juha Kinnunen has prepared a new report. Inderes – 23 Oct 26 Talenom Q3'26: Korkovipu kiristää, mutta Suomi-kone tikkaa - Inderes Talenomin ...
10/23/2026, 5:08 AM
by Gwertheney
12
Trading volume is pretty weak, even though the company’s turnaround is now clear. Wonder if even this result will attract enough buyers to melt...
10/22/2026, 10:45 AM
by Gold
2
My apologies, it didn’t make it into the interview. I already had a couple of earnings releases and interviews this morning, so I didn’t really...
10/22/2026, 10:00 AM
by Juha Kinnunen
3
Talenom managed to clearly improve profitability in Q3. Talenom’s CEO Juho Ahosola shares more in an interview with analyst Juha Kinnunen. Topics...
10/22/2026, 9:44 AM
by Gwertheney
12
Just had to buy a bit more. Is that 2c dividend for the rest of the year still a mystery… it might be about time to announce something about...
10/22/2026, 8:05 AM
by Gold
1
Juho and Matti sounded pretty satisfied in the webcast, and there were a lot of questions about Spain. Nothing particularly new or surprising...
10/22/2026, 7:48 AM
by Gwertheney
5