contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


inderes-group-q2-adjusted-ebita-above-while-reported-profits-were-shy-seb

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

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.

Er sådanne cases ikke rigtig godt salgsmateriale for Inderes?

Jeg gennemgik det i går og bemærkede ingen væsentlige afgange.

Jeg svarer mig selv, jeg havde tid sent i aftes på returflyvningen fra ferie til at lytte igen til udvalgte dele fra bogen om @Mikael_Rautanen og Inderes, dvs. markedsværdien i begyndelsen af 2019 var stadig beskedne 4,9 millioner, i begyndelsen af 2020 9,2 millioner (Flik blev erhvervet i 2019), og i begyndelsen af børsnoteringsåret, før børsnoteringen, læser Mikael flydende markedsværdien som 80 millioner, jeg måtte lytte to gange, så der må være sket en tankefejl under læsningen  , kan nogen svare på, om det var meningen at læse 18 millioner!? Ved børsnoteringen i oktober var markedsværdien til en pris på 25 euro 43 millioner, det nuværende kursniveau på 15,9 euro svarer til en markedsværdi på 27,7 millioner. Min egen idé var her at forsøge at skitsere, til hvilken pris Inderes’ personale stadig havde mulighed for at købe aktier i 2019. En anden interessant observation fra bogen er, at personalets udskiftning i årene 2017-21 var “tæt på nul”. Så igen den seneste ejerliste, overraskende få ændringer, nogen har sandsynligvis kopieret de tidligere måneders lister og kan se, om nogen er helt forsvundet fra listerne!? : https://group.inderes.fi/fi/sijoittajat/osaketieto/osakkeenomistajat

Jeg forstår overhovedet ikke, hvorfor virksomhedens ledelse skulle tage stilling til aktiekursen. Deres opgave er at lede virksomheden bedst muligt og skabe ejerværdi, og virksomhedens prisfastsættelse kan leve i børsen fuldstændig uafhængigt af virksomhedens gøren og laden. Jeg ville være bekymret som ejer, hvis ledelsen i min virksomhed brugte mere tid og hjernekapacitet end kaffebordssamtaler på at diskutere aktiens værdiansættelse eller debattere analytikernes synspunkter.

Ja, det gør vi. Det ville under ingen omstændigheder være holdbart at sælge det ene og levere det andet.

Vi har et ordsprog, der siger, at Inderes har hundredvis af virksomhedskunder, men kun ét investorsamfund.

At dømme ud fra denne graf ramte Inderes’ analyse fuldstændig plet sidste gang. Mærkeligt, at kunden ikke fremhæver denne graf  .

Inderes

Inderes reported Q2 somewhat above our estimates on an adjusted basis. Sales were slightly above our estimate thanks to strong project sales in June while adjusted EBITA topped our forecast clearly. However, the quarter saw EUR 0.5m in one-offs, which we had not expected and hence reported EBITA declined clearly y/y. Looking at business lines, the performance was in line with our FY projections. Guidance is unchanged. Overall, a neutral reaction appears justified.

<p>Inderes&apos;s Q2 sales increased by 3.7% y/y to EUR 5.2m, topping slightly (+2%) our estimate of EUR 5.1m. With April-May sales already reported the deviation owes to June sales, which rose 29% y/y thanks to the timing of project revenue between May (-12% y/y) and June. The Q2 reported EBITA declined to EUR 0.1m, missing our estimate of EUR 0.5m clearly. However, the deviation owes to one-off costs amounting EUR 0.5m and excluding these one-offs adjusted EBITA came in at EUR 0.7m, topping our estimate of EUR 0.5m relatively clearly. The one-offs relate to the reorganisation of Swedish business. Looking at the H1 performance for business lines we flag that the Research business sales increased by c. 3%, which is in line with our FY25 projection. Events business sales climbed 2% while we input flat 2025E sales. The Software business sales increased 22% y/y, which we find in line with our FY25 projection of 20%. International sales development remained flat vs. the previous year at EUR 2.2m in H1. This was also in line with our assumption. It is noteworthy that the Swedish business remains in decline, but the first steps of internationalisation of the Software business offset the performance. The number of commissioned research agreements was up q/q to 143 (vs. 141 in end-Q1). The group headcount of 122 employees was in line with our expectations.</p>

Inderes Group - Q2: Adjusted EBITA above, while reported profits were shy - SEB

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