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Research

Hyvä aloitus vuodelle

By Joni GrönqvistAnalyst
Netum Group
Download report (PDF)This report is only available for Inderes Premium customers.

Q1 oli operatiivisesti hyvä ja sektoria parempi suoritus. Lisäksi markkinakommentit olivat varovaisen positiiviset. Ennustamme maltillista ja sektoria parempaa kasvua sekä selvää kannattavuus-parannusta vuonna 2024. Ennusteillamme arvostuskuva (2024 EV/EBIT 8x ja P/E 12x) on edelleen houkutteleva.

Netum Group operates in the IT sector. The company specializes in the development of software solutions. The software is developed in-house and is mainly used for design and implementation of software, management and monitoring of information systems, cybersecurity solutions and IT management. The customers consist of corporate customers in several sectors. In addition to the main business, various value-added services are offered. The largest operations are in the Nordic region.

Read more on company page

Key Estimate Figures07.05.2024

202324e25e
Revenue37.145.246.1
growth-%27.2 %22.0 %1.8 %
EBIT (adj.)2.84.74.8
EBIT-% (adj.)7.4 %10.3 %10.4 %
EPS (adj.)0.160.230.29
Dividend0.000.140.16
Dividend %12.7 %14.5 %
P/E (adj.)16.74.73.9
EV/EBITDA16.13.93.5

Forum discussions

Netum’s Repe Harmanen was at the IT Services Night to talk about the company as an investment. Topics: (00:00) Introduction (00:27) Netum in...
5/27/2026, 6:23 AM
by Sijoittaja-alokas
1
Here is the company report on Netum from Joni right after Q1 We reiterate our Reduce rating for the stock and lower our target price to EUR ...
4/29/2026, 3:21 PM
by Sijoittaja-alokas
1
Joni interviewed Netum’s CEO Repe Harmanen after the Q1 results release Inderes Netum Q1'26: Kannattavuuden osalta torjuntavoitto - Inderes ...
4/28/2026, 11:14 AM
by Sijoittaja-alokas
2
Netum’s results from this morning Inderes Netum Group Oyj:n liiketoimintakatsaus 1.1.–31.3.2026: Tammi–maaliskuun 2026... Netum Group Oyj | ...
4/28/2026, 6:39 AM
by Saku
2
Here are Joni’s pre-result comments as Netum reports its Q1 results on Tuesday, April 28th In our view, there were positive signals in the IT...
4/23/2026, 6:30 AM
by Sijoittaja-alokas
0
Here are Joni’s comments on Netum’s recent acquisition Netum announced on Tuesday that it is acquiring the small cybersecurity company Cyberwatch...
4/22/2026, 5:31 AM
by Sijoittaja-alokas
1
CEO’s review from last week’s Annual General Meeting! Inderes Netumin yhtiökokous | Toimitusjohtajan katsaus 15.4.2026 - Inderes Aika: 21.04...
4/21/2026, 6:19 AM
by Sara Antonacci
4