Both sales and earnings were significantly above forecast, driven by the Food segment. We regard Food segment earnings as more stable than trading earnings. A standalone valuation…

Eleving met its IPO targets, delivering both attractive growth and potential yield. The IPO strengthened the balance sheet and likely resulted in lower funding costs. We believe…

The Estonian economy is in a multi-year slump and the mood is at historical lows. These are times when we feel more positive because it always feels…

Once again, the quarterly adj. EBITDA was above our forecast and grew vs. last year. The 2024 guidance was raised on the back of the strong Green…

After seven years of holding back on major acquisitions, EfTEN sees attractive opportunities as local investors lack capital and foreign investors want to exit. If successful, the…