Battlecat

Buy cheap small caps and pray🙏

[Battlecat @_Battlecat_]

I have summarized all my thoughts about the delisting offer from Thornico (takeout play)
BRDR Hartmann $Hart

https://t.co/T84oRWixAO

[Battlecat @_Battlecat_]

@MoSNordic @BuffDawgg No effect

[MagnifiqueCap @MagnifiqueCap]

I've started looking into $NREST after an unjustified drop since a strong Q1. It's a high-growth caterer operating in captive locations, 44% from Military/Defence (+61.5% growth). Founder-CEO owns 35% and are now going from Scandinavia to Europe. Trading at EV/EBIT 7x on 2027E

[MagnifiqueCap @MagnifiqueCap]

$TERR Terranor. Nordic leader in road operations and maintenance, listed June '25, asset- and capex-light, 89% state/municipal customers, 4-6 year long indexed contracts with structural tailwinds trading at EV ex-lease/EBITA <2x on 2028e guidance.

[Battlecat @_Battlecat_]

$NKR
- 2027E 5x EV/EBITDA
- 40% growth in coming years
- Massive contracts flooding the market soon
- Defense industry pick-and-shovel play with 90% win rate
- Intellift secures major contract
- New M&A incoming

[Battlecat @_Battlecat_]

@venturaFPC stærkt👏

[MagnifiqueCap @MagnifiqueCap]

Dellia Group $delia

Possibly one of the most promising IPOs in the Nordics in the last couple of years?

Growth has been astonishing, driven by strong penetration in the Nordics. They have scaled extremely well in Sweden and Denmark, in addition to their domestic market

[MagnifiqueCap @MagnifiqueCap]

WindowMaster - Danish Nano-Cap at 3.7x EBIT

I have initiated a position in the company, seeing an attractive margin of safety with strong parallels to other previously overlooked nanocaps in Scandinavia. Read my take on the case here:

https://t.co/4odiwf6OFb

[Battlecat @_Battlecat_]

@AstutexAi Which date?

[Battlecat @_Battlecat_]

@MagnifiqueCap

[Battlecat @_Battlecat_]

$illm.to $illm

[Analysfokus @Analysfokus]

Ny vecka – ny analys.
@MagnifiqueCap tar sig an Illumin, ett kandensiskt mikrobolag i mitten av en turnaround.

”En kassa som överstiger 50% av börsvärdet”

”Det nuvarande läget fungerar som en viktig inflektionspunkt”
https://t.co/1iE17PwOMi

[Pareto Securities @ParetoSec]

We initiate research coverage on Odfjell Technology $OTL 📝

Odfjell Technology is a technology and engineering company primarily focused on drilling, well related services, and equipment.

The company was previously a part of Odfjell Drilling $ODL and was spun off and listed on the Oslo Stock Exchange in 2022.

At ~3x 2025e EBITDA and ~20% FCF yield, the company is priced in the very low end of the oil service sector, with both relative and absolute valuation at its most attractive since listing.

While we see stagnating near-term earnings, we appreciate the relatively low oil price beta in today’s market. Meanwhile, we expect dividends to be lifted further following the recent refinancing.

Access the full initiation report through our client platform🔒 https://t.co/AELDfNoBbj

Learn more about our research: https://t.co/9TUpX7VsHB

[Battlecat @_Battlecat_]

@lasse108 @eirik_valen @kokken_tor1 Ved du om ens aktier automatisk bliver flyttet over til NYSE?

[Battlecat @_Battlecat_]

@Adj_3bitda Nothing impressive. Lower guidance and no buybacks. Still cheaply valued, but management will have to buy back shares.

[Battlecat @_Battlecat_]

@2022Invest Maybe liquidity isn’t big enough to repurchase all shares again🤷‍♂️

[Battlecat @_Battlecat_]

https://t.co/LDxENWeD0Y

Management is doing everything perfect…Market doesn’t care. $rake

1. Selling parts of unprofitable business
2. Getting ready for buyback
3. Selling shares at 40% higher prices

[Battlecat @_Battlecat_]

@2022Invest They will pay up to 3mm EUR (34mm SEK) in equity until Q1 2025. They have now payed 18mm SEK.

[Battlecat @_Battlecat_]

We will soon see $rake buying back share at 9 SEK while selling shares at 13.3 SEK. They are taking advantage of the market dumping shares at extreme cheap prices

[Battlecat @_Battlecat_]

However, this is not something I expect, but at these levels, 0% EBITDA growth is more than sufficient. I have bought up at these levels but am just as quick to hit the sell button if things change...

[Battlecat @_Battlecat_]

77% FCF yield in 2 years with no growth needed?

$rake could be a "value trap" or an excellent opportunity.

After changes in Google's search engine, rake/casumba has been under heavy pressure. But with an extreme "recency bias", where no one believes that data will turn,

[Battlecat @_Battlecat_]

In a hated sector where the data does not point in the correct direction, there is deep risk involved. But management has shown responsibility, and if the business were to move back to old levels, a share price of +30 SEK is very achievable.