STRATEGY AND FINANCIAL TARGETS
After the IPO in 2021, Inderes has laid the foundation for a Nordic network connecting investors and listed companies. More than 400 listed company clients are currently connected to the Inderes platform, mainly in Finland, Sweden and Denmark. At the same time, we have expanded our service range to include the most critical solutions needed by listed companies. In the strategy period 2023-2027, we will lay the foundations for a Nordic operating model. Our strategy focuses on four selected main products (Equity Research, IR Events, AGMs and IR Software) and three selected geographic markets (Sweden, Finland and Denmark). We work towards our goals through three selected key strategy themes: Productization and sales, Sweden and International Inderes.
Key strategic themes and identified obstacles
Identified obstacles
As part of its strategy work, the Inderes team has identified the following obstacles to international growth:
Low brand awareness of Inderes in markets outside Finland.
Building a product offering and sales models in Sweden.
Developing an international organization culture.
Building investor communities in markets outside Finland.
Key themes of the strategy
Productization and sales
Sweden
International Inderes
The aim of the productization is to make the products Inderes offers to listed companies easier to buy, deliver, and sell. In-house software development strengthens product automation and scalability and frees up resources for growth. We are strengthening our sales organization and capabilities to support international growth.
The Swedish market will be Inderes' main growth market during the strategy period. To build awareness among listed companies and the investment community, we will initiate research coverage on selected interesting Swedish companies and pilot other products with freemium models. Near-term growth will come from the events business, where we have opportunities to grow by replicating proven concepts. Our goal is to become an established investor media and IR partner for listed companies in Sweden during the strategy period.
Inderes has historically relied heavily on a local operating model, and to succeed in international growth, we need to build internationalization capabilities. We will continue to actively develop the people-centric culture and co-managed organizational model described in the Inderes Playbook to reflect our international operations.
Financial targets
The long-term economic objective of Inderes is to:
Financial target: to maintain a combined annual growth rate of 30-50 % in revenue growth rate and profitability (EBITA-%). Historical actualization:
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|
| Revenue growth-% | 29 % | 40 % | 56 % | 76 % | 36 % | 14 % | 27 % |
| EBITA-% | 21 % | 19 % | 18 % | 20 % | 20 % | 9 % | 11 % |
| Total | 50 % | 59 % | 74 % | 96 % | 55 % | 24 % | 38 % |
Payout policy: annually increasing absolute distribution of profits, including dividends and share buybacks
In Finland, we are aiming for moderate growth and strong profitability in the 2023-2027 strategy period. In Sweden, the focus is on growth. Profitability in Sweden is expected to be zero or slightly positive in the coming years during the ramp-up phase of the business and to improve towards the end of the period. In Denmark, we operate a partner model where revenue is based on HC Andersen Capital's growth-based license fees.
Itämerentori 2, 00180 Helsinki
Brunnsgatan 21A, 3tr, 111 38 Stockholm