Auroora Group

Two acquisitions in two days add just below 17 MEUR in annual revenue.

The acquisition of the Labko business will increase the Group's revenue by ~4%.

Large owners sold 3.9% of the shares at a 10% discount, creating short-term downward pressure on the stock.

Auroora's Q2 figures clearly exceeded our estimates.

We forecast revenue to have grown rapidly, driven by acquisitions and strong organic growth.

We find the target a very logical addition and typical in size for Auroora.

Auroora's compounder story is in its early stages, but the company's playbook for achieving ambitious targets is in order.