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Research

Inderes Group - Q4: Clear miss driven by weak project business - SEB

By SEB
Inderes
Download report (PDF)

Inderes's Q4 sales were surprisingly well below our estimate, given that the delta owes purely to December. Due to fixed costs driven cost base the absolute miss in EBITA was almost equal to the top-line miss and was clearly below our estimate. The number of commissioned research agreements continued to rise, which we find to be the positive spot of the report. In its guidance the company sees 2024 sales to grow and EBITA margin to improve vs. 2023.

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

This also belongs here, at least @_TeemuHinkula has written the sixth part of his “Life in the Committee” blog series. As the most observant...
2 hours ago
by Sijoittaja-alokas
8
An article in Arvopaperi, featuring comments from Mikael Rautanen among others: Arvopaperi – 9 Mar 26 Tuoreet pörssiyhtiöt kertovat, millä perusteilla...
3/9/2026, 7:21 AM
by Karhu Hylje
23
Chairman of the Board buying, 2000 shares Inderes Oyj, Johdon liiketoimet – Joakim Frimodig | Kauppalehti
3/4/2026, 2:24 PM
by NukkeNukuttaja
32
There was an interview with @Mikael_Rautanen on Listeds.com, which discussed, among other things, the listing, Mikael & Inderes’ journey, etc...
3/4/2026, 4:57 AM
by Sijoittaja-alokas
14
Hi to the thread! Unfortunately, we don’t have an introductory video of Huey, Dewey, and Louie to offer yet, but I did an interview with them...
2/27/2026, 10:44 AM
by Sijoittaja-alokas
23
In addition to the previous:
2/27/2026, 9:49 AM
by Karhu Hylje
11
Inderes’ market is growing in Finland as Salvos announced its listing today, and KPY Cooperative also reports that it is aiming for a listing...
2/26/2026, 8:40 AM
by Karhu Hylje
31
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