We have updated our in-depth analysis of Storskogen, where we evaluate each of Storskogen’s 14 verticals separately. Our conclusion is that Storskogen’s bond pricing is disadvantaged by its short track record and its rapid growth through M&A activity during 2020, 2021, and 2022. Additionally, last year’s negative organic growth has created uncertainty about value creation in the business model. However, with 7 of the 14 verticals (~43% of net sales) exposed to the Nordic construction and Europea ....
