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Research

Inderes Group - Headwinds to fade towards 2026 - SEB

By SEB
Inderes
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Inderes’Q3 miss was not a surprise after the recent profit warning. While topline growth faces headwinds on the event side,recurring revenue maintained steady growth driven by software. We stick to our growth view for 2026E, which we find will be driven by market tailwinds that materialise through IPOs. However, we lower our estimates on a weaker base in 2025E and our fair value range to EUR 18-20 (from EUR 19-21).

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.

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Forum discussions

Juha Ollikainen was responsible for the largest selling pressure in December, disappearing from the December shareholder list: Pauli Lohi also...
1/2/2026, 8:46 AM
by Karhu Hylje
25
Greetings to the Forum! Here is the Inderes Q4 preview we promised for this year. We also want to highlight a change in our team composition...
12/29/2025, 6:31 AM
55
Here’s a fresh look at Inderes from Sebu. Inderes delivered solid monthly sales in November with sales increasing by 15% y/y. The strong growth...
12/12/2025, 5:38 PM
by Sijoittaja-alokas
20
Inderes’s stock has poor liquidity. The only ways to sell a large quantity of the stock are to find a buyer or good news. This time, the good...
12/12/2025, 11:35 AM
by Mikko Mäkinen
63
Indeed, those 26 figures have quite high growth numbers built in if one compares them to the 2024 adjusted EPS. Will the growth materialize ...
12/12/2025, 11:34 AM
by Thyme
8
Regarding this, I believe that the management already has such a large ownership in the company that it would not be good (even for the market...
12/12/2025, 10:52 AM
by Iiizi
13
Good growth figures from Inderes in November After the profit warning, we have received two good sets of monthly figures, and the IPO window...
12/12/2025, 6:55 AM
by Karhu Hylje
36
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