Inderes’ Q4 numbers were broadly in line with our forecasts. The company continues to win more contracts for its research business, which we view as an important value driver for the case. We think its profitability remains short of its potential, due to the Nordic expansion, hence short-term valuation multiples are still rich. However, the Nordic market potential is huge, in our view. Our fair valuation range remains EUR 24-27.
Inderes
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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