High Growth Tech Stocks in Sweden to Watch This September 2024
As European markets experience a boost from the ECB's recent rate cut and global tech stocks continue to outperform, Sweden's high-growth tech sector is drawing significant attention. In this favorable environment, identifying stocks with strong fundamentals and innovative potential becomes crucial for investors looking to capitalize on emerging opportunities.
Top 10 High Growth Tech Companies In Sweden
Name | Revenue Growth | Earnings Growth | Growth Rating |
|---|---|---|---|
Truecaller | 20.32% | 21.61% | ★★★★★★ |
Fortnox | 20.18% | 22.60% | ★★★★★★ |
Xbrane Biopharma | 53.90% | 118.02% | ★★★★★★ |
Yubico | 20.52% | 42.35% | ★★★★★★ |
Bonesupport Holding | 33.76% | 31.20% | ★★★★★★ |
Scandion Oncology | 40.71% | 75.34% | ★★★★★★ |
Hemnet Group | 20.13% | 25.41% | ★★★★★★ |
Skolon | 31.76% | 121.72% | ★★★★★★ |
BioArctic | 42.38% | 98.40% | ★★★★★★ |
KebNi | 34.75% | 86.11% | ★★★★★★ |
Here's a peek at a few of the choices from the screener.
Telefonaktiebolaget LM Ericsson
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Telefonaktiebolaget LM Ericsson (publ), along with its subsidiaries, offers mobile connectivity solutions for telecom operators and enterprise customers across multiple regions including North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India; its market cap is SEK253.05 billion.
Operations: Ericsson's primary revenue streams are derived from its Networks segment, generating SEK157.93 billion, and its Cloud Software and Services segment, which brings in SEK63.35 billion. The Enterprise segment contributes SEK25.83 billion to the company's total revenue.
Ericsson's revenue is forecast to grow at 2.7% annually, outpacing the Swedish market's 1%. Despite a net loss of SEK 11.13 billion for Q2 2024, the company remains committed to innovation with significant R&D investments. In collaboration with NRTC and Southern Linc, Ericsson aims to enhance private network solutions for U.S. electric cooperatives, showcasing its strategic focus on resilient infrastructure and advanced communications technologies. The company's earnings are projected to grow by 98.9% per year as it transitions towards profitability in the next three years.
Sectra
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Sectra AB (publ) offers solutions in medical IT and cybersecurity across Sweden, the United Kingdom, the Netherlands, and other parts of Europe, with a market cap of SEK 51.94 billion.
Operations: Sectra AB (publ) generates revenue primarily from its Imaging IT Solutions and Secure Communications segments, contributing SEK 2.67 billion and SEK 388.55 million respectively. The company operates in the medical IT and cybersecurity sectors across multiple European countries.
Sectra's recent earnings report for Q1 2024 shows sales of SEK 736.75 million, up from SEK 601.71 million a year ago, while net income rose to SEK 80.4 million from SEK 61.56 million. The company's revenue is forecast to grow at an impressive rate of 14.2% annually, significantly outpacing the Swedish market's growth rate of 1%. Notably, Sectra has been investing heavily in R&D, with expenses reaching SEK X.X billion last year, underscoring its commitment to innovation and long-term growth prospects. In addition to strong financial performance, Sectra has successfully implemented its public cloud service in two Belgian hospitals—AZ Sint Lucas and AZ Sint Jan—enhancing their operational efficiency and resource sharing capabilities through Microsoft Azure-based solutions. This move not only streamlines workflows but also reduces IT burdens on hospital staff, showcasing Sectra's strategic focus on leveraging cloud technology for healthcare improvements and positioning it well within the high-growth tech landscape in Sweden.
Take a closer look at Sectra's potential here in our health report.
Assess Sectra's past performance with our detailed historical performance reports.
Swedish Orphan Biovitrum
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Swedish Orphan Biovitrum AB (publ) is an integrated biotechnology company that researches, develops, manufactures, and sells pharmaceuticals in haematology, immunology, and specialty care across Europe, North America, the Middle East, Asia, and Australia with a market cap of SEK111.94 billion.
Operations: Swedish Orphan Biovitrum AB (publ) generates revenue primarily from three segments: Hematology (SEK 15.07 billion), Immunology (SEK 7.49 billion), and Specialty Care (SEK 1.15 billion). The company focuses on developing and commercializing pharmaceuticals in these therapeutic areas across multiple regions globally.
Swedish Orphan Biovitrum (Sobi) has demonstrated strong revenue growth, reporting SEK 11.70 billion for the first half of 2024, up from SEK 10.11 billion in the previous year. Despite a net income decline to SEK 1.02 billion from SEK 1.29 billion, Sobi's earnings are projected to grow at an impressive rate of 25.8% annually over the next three years, significantly outpacing the Swedish market's average growth rate of 15.3%. The company's R&D investment underscores its commitment to innovation; with recent pivotal studies like VALIANT and XTEND-Kids showing promising results in rare disease treatments, Sobi is well-positioned within Sweden’s tech landscape despite some challenges such as lower profit margins (9%) compared to last year's (15.5%).
Seize The Opportunity
Take a closer look at our Swedish High Growth Tech and AI Stocks list of 80 companies by clicking here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include OM:ERIC B OM:SECT B and OM:SOBI.
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