2022 was a disappointing year for Nordic growth exchanges. However, they have done very well so far in 2023, and the low starting point from 2022 could potentially generate big returns. It remains stock-picking territory, where the big returns come from finding the winners. This past week, a company that provides visual content for movies and games was the winner of the week with a 254% return.
Shares on the Nordic growth exchanges (Kapital Partner Nordic Growth Exchanges Index/ KPNGX) rose 2.4% last week. The KPNGX index now stands at 92.61. The Danish C25 index rose 1.5%, while the Swedish S30 index rose 4.6%. The various indices fluctuate from week to week, but the Swedish S30 index and the Danish C25 index typically follow each other and have significantly outperformed the emerging markets over the past year.
KPNGX index development the past year
The 3 best performing stocks on the Nordic growth exchanges last week
Goodbye Kansas Group AB (+254%) is a global provider of visual content. The group is divided into three business areas: Visual Content & Brand, IP &Products and Games & Apps. Visual Content & Brand provides visual content for film, television and video games. IP & Products develops IP for film and TV, offers virtual training through VR and a SaaS solution for visualisation of e-commerce products through AR. Games & Apps develops map-based mobile games and offers an app for 3D animation.
Alefarm Brewing A/S (76%) is a Danish brewer specialising in beer brewing, where the beer is resold under its own brand around the Nordic market. The company has a very specific niche that it has chosen to focus on and that is with the beer types IPA and stout, which are brewed in its own production facilities. The company’s products are then resold on the Nordic market.
Cardeon AB (56%) is a Swedish investment company that has invested in Nordic medical technology and life science start-ups since its merger with Tectona Capital in 2022. The company’s business concept is to help develop an idea born from a research result into a commercial product through investments. Cardeon invests in both listed and unlisted companies and was founded in 2006.
Share price development of Goodbye Kansas Group AB , Alefarm Brewing A/S and Cardeon AB the past year
Developments during the week on First North Denmark
The Kapital Partner First North Danmark (KPFNDK) index rose 3.9% last week. The KPFNDK index has underperformed relative to the C25 index over the past year. However, the KPFNDK index has outperformed more risky equity indices such as the KPNGX index and the TR Venture Capital Index over the past year.
Read more: “Strategic review” after the company has risen 13%
KPFNDK index development the past year
Developments during the week on First North Denmark at company level
Alefarm Brewing A/S was the winner of the week after a 76% increase following a strengthened partnership with MENY. Odico A/S followed with a 47% increase. Last week, the worst performing stock was Happy Helper A/S with a decline of 20%. Samesystem A/S fared worst in 2022 among First North stocks in Denmark with a fall of 84%, while the best performing stock in 2022 was Shape Robotics with a rise of 120% – Alefarm Brewing has made good ground to become the best performing stock of the year in 2023.
Development on First North Denmark last week and year to date
Read the invesment case for Mdundo A/S that also operates in Africa
Developments during the week for the Nordic healthcare stocks
Nordic healthcare stocks (Kapital Partner Healthcare Index/KPHC) have been hit hard over the past year. However, the KPHC index started 2023 with a 0.5% increase, with Cantargia AB (61%), Amniotics AB (56%) and Bioretec Oy (50%) making up the top 3. Diagonal Bio AB fared the worst, falling 35%.
KPHC index development the past year
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The 3 best performing healthcare stocks in the Nordics last week
Cantargia AB (+61%) aims to develop, sell and license drug candidates to companies focused on antibody drugs used to treat leukemia and other cancers such as lung and pancreatic cancer.
Amniotics AB (56%) specialises in the research and development of various drug candidates, where the product portfolio includes, for example, stem cell-based therapies for the treatment of serious life-threatening diseases where effective treatment is lacking or insufficient.
Bioretec Oy (50%) specialises in the development of medical devices. The product portfolio includes, for example, implants for orthopaedic surgery for children and adults and other materials for the treatment of bone and soft tissue injuries. In addition to the main business, the company also offers services and related ancillary services.
Price development of Cantargia AB, Amniotics AB and Bioretec Oy the past year