contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

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.

Inderes General Meeting Services will develop the service in 2027 by launching children’s ballot papers for shareholders under 18 years of age.  The new ballot paper model is fully compliant with the law and enables the exercise of voting rights, provided that registration has been duly completed and guardians’ proxies have been taken into account.  This innovation promotes popular capitalism and ensures that the future generation of investors learns early on that general meetings can also be colorful and joyful.

Sauli seems to have taken the missing half from the dividends by selling shares to the chairman of the board, Jocke:    Flik’s founder and “tech lead” Vainionpää also continued his sales:  As did the other founder, Jokinen:

Is the remuneration really determined by the share price on a single day, February 28, 2029? That’s quite a coin toss, considering, in addition to the above, that the company’s management has no say in whether it’s a bull or bear market, what the small-cap sentiment is, or what the next orange man happens to say on that particular day. The problem could have largely been avoided by using a more commonly accepted relative total return as a metric instead of an absolute total return. In other words, measuring whether Inderes outperforms the market/peer group, not which way the entire market happens to be going. It would be interesting to hear from the board why they opted for a model where the market determines the remuneration more than the company’s own performance? The justification that there are no direct comparables for Inderes on the stock exchange is not sufficient. Since its listing, with the company’s relatively mediocre performance, the share price has followed Finland’s First North, i.e., the market (Inderes blue, FN red, OMXH25 gray).

Indeed, an important reference, although I don’t support @Timo_Huhtamaki’s comment about “coffee and bun meetings” moving completely online. The hybrid meeting model, however, definitely increases investor democracy. But to the actual point, Inderes still appears to the general public as an analysis company. For the software and event business to become more familiar, at least to forum users, it would be great to read a report, for example, on the virtual arrangements of Nordea’s general meeting, written by the responsible persons involved. When did the operation start, how many Inderes staff members were involved in this important, larger-scale general meeting, ensuring that everything went perfectly!? Were there any problems, etc., questions certainly abound . At least, perhaps we could ping @Yu_Gong and @Janne_Vainionpaa. This could even be done as a video, if writing a report isn’t appealing, ping @Verneri_Pulkkinen

If the dividend-adjusted share price is 20 euros after three years, there will be no dilution at all. “No reward will be paid at all if the TSR falls below the minimum threshold of 20 euros at the end of the performance period.” After this, dilution is linear up to 60 euros, at which point for every euro increase, 150,000 / (60 - 20) = 3,750 shares are distributed. At 30 euros, the dilution would be (30 - 20) * 3,750 = 37,500 shares. Key personnel would receive a maximum of 60 € * 150,000 = 9 million euros worth of shares.

In my opinion, the incentive program is not particularly loose, and it’s important that talented people joining the company feel they have the opportunity to increase their share of the pie in the future through their own contribution. In the share savings program, this is a much more mechanical process. Do your job well enough not to get fired, save into the savings program, and enjoy the reward shares. If a person joins the program announced today, this secure safety net of the share savings program is completely missing, and the reward could be just a pat on the back if, for example, personal data leaks from the register, or someone hijacks all the data Inderes has stored on its website, and even the backups are destroyed.  Is the staff automatically committed or are they immediately ready to switch jobs when a brick-and-mortar bank offers a portfolio manager position if they see they have no concrete opportunity to partake in future returns as owners? Alternatively, what if Alma Media started wooing coders, and they wanted to go develop a competitor for Viceosync?  I share the same concerns regarding this, though even if the company’s share price were to rise by another 200% to 180€ over a six-year period, it would again be possible to distribute shares in the form of dilution to those who have contributed to that growth.

I would be interested to know (perhaps this has already been mentioned somewhere, but the announcement only stated the maximum dilution of 150,000 shares) what kind of dilutions to Inderes’ share count would be expected at a share price level of, for example, 20 euros and 30 euros. A share price level of 20 euros (minus dividends) would not, in my opinion, be a good return, considering that Inderes’ share price is at an all-time low. The target level would be 20% less than the listing price in 2021 and only about a 10% return per annum over three years. Of course, if the compensation is largely nominal at the 20-30 euro level, the situation is quite different, but I don’t think this was communicated well. I agree that, especially after Inderes’ listing, the company has had challenges in fully committing key personnel to continue developing the company or staying with it. However, this change does not attract me at all as a potential share buyer, as no further information is available. Moreover, it largely depends on sentiment and the stock market at what multiples Inderes will be valued at that time. And a small risk in these cases is always (which I don’t believe will happen with Inderes) that a mechanical target level might lead to an artificial pumping of the company’s valuation at the deadline. It would be more sensible to assess the situation over, for example, a six-month period in the first half of 2029 and use a weighted average price.

Inderes

Inderes' Playbook includes a thorough cross-section of Inderes' social dimension, business model, values, internal operating models and future. The Playbook was made public to ensure that we always act accordingly.

<p>Inderes' Playbook includes a thorough cross-section of Inderes' social dimension, business model, values, internal operating models and future. The Playbook was made public to ensure that we always act accordingly.</p>
<p>Download Playbook <a href="https://content.inderes.se/assets/c117cbc8-65f1-407c-b119-6eb99f4d2886" target="_blank" rel="noopener">here</a>.&nbsp;</p>

Inderes Playbook

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