Byggmästare Anders J Ahlström Holding is an investment company with the goal of creating long-term value for shareholders as well as for society and other stakeholders. The company focuses on small and medium-sized companies, listed as well as unlisted. The operations are primarily concentrated in Sweden and the rest of the Nordic region. The company was founded in 1898 and has its headquarters in Stockholm.
At the current share price of SEK 52.5, the stock trades at a discount of ~19% to our estimated NAV, below the 5-year historical average discount of 9%, a gap we view as excessive given Byggmästaren's portfolio composition, balance sheet strength, and track record.
Byggmästaren is an investment company focusing on long-term value creation through active ownership in a concentrated portfolio of small- and mid-sized companies.
* Q4 NAV in line with ABGSCe * Strong operational performance in key private assets * P/NAV lower, discount well above 5Y average Green Landscaping held back NAV again Byggmästaren reported Q4 NAVPS of SEK 67, in line with our estimate. NAV declined ...
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* Small, value-accretive divestment; IRR of 24%* Streamlines the portfolio and sharpens strategic focus* Limited financial impact; earnout offers upsideDivestment to Bonnier, proceeds in line with reported NAVByggmästaren has agreed to divest its entire...
* Educational day with presentations from core holdings* Strong potential in Safe Life and DP Patterning* Core assets in good shape and well-positioned for new opportunities Solid prospects for key assets Yesterday, Byggmästaren hosted Byggmästardagen...
* Q3 NAV 2% above ABGSCe* Private valuation gains signal underlying strength* P/NAV higher, discount still above 5Y averageGreen Landscaping weighed on Q3 NAVByggmästaren’s Q3 NAVPS was SEK 305, 2% above our estimate, with the beat driven by positive...
* Byggmästaren proposes extraordinary dividend and share split* Updates dividend policy and reaffirms strategic focus* Positive signal from a capital allocation perspectiveKey highlights from Byggmästaren's announcementByggmästaren today announced several...
* Q2 NAV in line with ABGSCe* Key highlights: Safe Life transaction and buybacks* Discount still wide despite strong performanceImpressive NAV outperformanceByggmästaren’s Q2 NAVPS was SEK 319, matching our estimate and rising 8% q-o-q in total return...
Bridgepoint invests in Safe Life Implied valuation +15% vs. reported value, SEK 525m released Positive implications for Byggmästaren Byggmästaren frees up SEK 525m in Safe Life transaction amid Bridgepoint partnership Byggmästaren announced on Friday...
Q1 NAV -1% vs. ABGSCe Safe Life continues to deliver solid growth Fair value range lowered to SEK 233-383 Stock pressured by Green Landscaping and NAV discount Byggmästaren’s Q1 NAV came in at SEK 297, 1% below our estimate and down 3% q-o-q. TSR was...
Q4 NAV beat our estimate... ...driven by valuation increases in private portfolio Fair value increased to SEK 264-405 NAV outperformance in Q4 and 2024 NAVPS reached SEK 307, beating ABGSCe by 6% and up 1% q-o-q. Total shareholder return (TSR) was +1...
Minor Q3 miss but strong YTD performance Strong balance sheet, ready to act on opportunities Fair value fine-tuned to SEK 265-382 Small, negative Q3 return NAVPS came in at SEK 304, -3% vs. ABGSCe (312), and down 2% q-o-q. The total shareholder return...
Medisol, a European e-commerce specialist,... ...becomes Safe Life's 27th acquisition... ...and further strengthens its market-leading position in Europe Medisol: an e-commerce specialist in AED sales and training Safe Life is a group of companies specialising...
Small Q2 beat amid solid underlying performance In strong position to act on opportunities Fair value fine-tuned to SEK 265-387 Strong NAV and lower discount drove big Q2 outperformance NAVPS came in at SEK 309, +2% vs. ABGSCe (304), and up 3% q-o-q ...
Unique investment company that compares favourably to peers High exposure to private assets NAV discount of 11% is above peers and historical average A diversified investment company with strong track record With roots tracing back to the 19th century...
