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Slowly we’re reaching the tip of my Journey via Denmark. One completely different 10 randomly chosen shares, this time yielding two “watch” candidates. Solely 48 now great. Benefit from !!!
121. Strategic Investments A/S
Strategic Investments is a 52 mn EUR market cap funding automotive that invests into securities, personal fairness and exact property. Investor relations is in Danish solely. Wanting on the share price, there doesn’t appear to occur a variety of worth creation correct proper right here. “Switch”.
122. Copyright Agent
Copyright Agent is a 2 mn EUR market company that “is a legal-tech company that helps knowledgeable content material materials supplies creators to make sure their distinctive work in route of misuse by utterly completely different corporations.” This 2021 IPO is certainly rising fairly quick, nonetheless losses are rising quicker with an EBIT margin of -50%. Money at June thirtieth on the present burn value solely lasts till yr finish 2022, so capital improve shall be coming quickly (or chapter). “Switch”.
123. Gyldendal
Gyldendal is a 125 mn EUR market cap e e ebook writer and operator of e e ebook shops. After doing nothing for 20 years, the Inventory seen some attention-grabbing price motion in 2021 which has now principally reversed:
I have no idea why that occurred. The inventory appears costly from any angle they usually confirmed losses for the primary 6M 2022. Presumably it’s an exact property play nonetheless for me it’s a “go”.
124. Dataproces Group A/S
Dataproces (with one s solely) is a ten mn EUR market cap IT promoting and advertising advisor that went public in 2021. They do have revenues nonetheless are burning money and don’t appear to have that hundreds money left which appears to clarify the share price improvement. “Switch”.
125. NKT A/S
NKT, the two,2 bn EUR market cap cable producer is already an “outdated buddy” of the weblog. I invested into them as one among my first makes an attempt to develop the electrification theme. I invested into NKT in June 2021 nonetheless supplied them in early February 2022 for threat administration causes.
The inventory has truly carried out very efficiently over the sooner months, notably relative to the market:
This was supported by very safe 6M numbers, notably the backlog elevated pretty a bit. Renewable vitality requires a variety {of electrical} vitality cables and NKT appears to have the facility to take its share. Their current investor day yielded an attention-grabbing presentation on how they see the long run. Full NKT is clearly a inventory to “watch”.
126. Brdr. A & O Johansen
A&O Johansen is a 211 mn EUR market cap distribution company that distributes offers for the occasion enterprise, primarily to craftsman like plumbers and establishing corporations.
A&O seen a speedy improve in its shareprice from the beginning of the pandemic till finish of 2021, going up almost 4x:
Much like {Photograph} voltaic, the inventory appears low worth, with a P/E of ~7 and an EV/EBIT of 6x. The issue clearly shall be, how severely they will be hit by the anticipated decelerate inside the entire establishing sector inside the approaching months / years.
As for {Photograph} voltaic, the primary 6M 2022 have been great and A&O was fairly optimistic concerning the complete yr. The one antagonistic, as for {Photograph} voltaic was that they’d considerably into stock.
Being a competitor to {Photograph} voltaic, A&O is clearly one to “watch” intently.
127. Odico A/S
Odico is an 8 mn EUR market cap company that appears to be by some means energetic in robotics. The corporate does have product gross sales, which is likely to be rising (~2 mn EUR), nonetheless losses are furthermore rising. “Switch”.
128. Fynske Financial institution
Fynske is however yet one more small, 130 mn EUR market cap financial institution. The inventory did surprisingly efficiently in 2021. At first sight, this doesn’t look enticing. “Switch”.
129. Lundbeck AS
Lundbeck is a 3,4 bn EUR market cap biopharmaceutical company that “engages contained in the analysis, improvement, manufacturing, and sale of prescribed drugs for the treatment of psychiatric and neurological points”. They appear to supply medication agains despair, schizophrenia and utterly completely different psychological illnesses.
Lundbeck has seen higher days, with the shares down -75% in route of their 2018 peak.
Inside the primary 6M 2022, enterprise has been rising as quickly as further, as a consequence of a mannequin new product that treats persistent migraine. At at present 12xEV/EBIT, the corporate doesn’t appear to be costly, nonetheless as I’ve zero competence in assessing the portfolio and pipeline of a pharmaceutical company, I’ll “go”.
130. Scandinavian Tobacco Group
Scandinavian Tobacco is a 1,5 bn EUR market cap company, that on account of the decide signifies, sells tobacco merchandise in Scandinavia and utterly completely different worldwide locations. The corporate appears to focus utterly on Cigars and Tobacco as such, so much a lot much less on cigarettes.
The inventory didn’t do hundreds over the sooner 10 years:
From a valuation perspective, the inventory appears low worth with a P/E of 8 and an honest dividend yield. Earnings have truly doubled over the sooner 10 years though the primary 6M 2022 look barely bit weak. As many Tobacco corporations, they profit from wonderful margins (20% EBIT, 15% ROCE). Furthermore they appear to play the “flamable hemp” market in North America.
For retailers who’ve an urge for meals for “sin shares” this may in all probability be attention-grabbing. For me it’s a “go” as I choose to remain “out of downside” .
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