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OrganoClick

OrganoClick

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OrganoClick was founded in 2006 as a university spin-off. The company’s operations and product offerings are based on a technology that changes the properties of cellulosic fibres in e.g. wood, textiles or paper by "clicking" on different functional molecules to the fibres which mimic natural chemical processes in growing plants, e.g. the organic waterproofing abilities of leaves. The company’s product offering consists of three business segments: Functional Wood, Green Coatings & Maintenance and Non-Woven & Fiber Technologies.

Sustainability information

The company is ramping up in several industries simultaneously, with different end-markets. For a small organisation, this could lead to a split focus, affecting the scale-up of some products negatively. Furthermore, the construction exposure is of a cyclical nature, meaning that the company would be affected negatively by an economic slowdown.

Financials

SEKm 2025 2026e 2027e
Sales 110 121 136
Sales growth (%) -13,9 10,7 11,7
EBITDA -8 14 22
EBITDA margin (%) -6,9 11,2 16
EBIT adj. -19 -3 5
EBIT adj. margin (%) -17,1 -2,5 4
Pretax profit -31 -10 0
EPS -0,29 -0,09 0
EPS growth (%) 63,3 -69,3 -97,8
EPS adj. -0,25 -0,09 0
DPS 0 0 0
EV/EBITDA (x) -35,2 19,6 12,4
EV/EBIT adj. (x) -14,2 -85,8 49,1
P/E (x) N/A N/A N/A
P/E adj. (x) N/A N/A N/A
EV/sales (x) 2,43 2,19 1,99
FCF yield (%) -12,3 1,9 -0,7
Le. adj. FCF yld. (%) -17,2 -3,9 -5,4
Dividend yield (%) 0 0 0
Net IB debt/EBITDA (x) -9,7 3,9 2,6
Le. adj. ND/EBITDA (x) -3,4 20,7 3,5
SEKm 2025 2026e 2027e
Sales 110 121 136
COGS -86 -91 -95
Gross profit 24 30 41
Other operating items -31 -17 -19
EBITDA -8 14 22
Depreciation and amortisation -16 -17 -16
of which leasing depreciation -9 -9 -5
EBITA -24 -3 5
EO Items -5 0 0
Impairment and PPA amortisation 0 0 0
EBIT -24 -3 5
Net financial items -7 -7 -6
Pretax profit -31 -10 0
Tax 0 0 0
Net profit -31 -10 0
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders -30 -10 0
EPS -0,29 -0,09 0
EPS adj. -0,25 -0,09 0
Total extraordinary items after tax -5 0 0
Leasing payments -9 -12 -10
Tax rate (%) -0,2 0 0
Gross margin (%) 21,6 25 30
EBITDA margin (%) -6,9 11,2 16
EBITA margin (%) -21,7 -2,5 4
EBIT margin (%) -21,7 -2,5 4
Pre-tax margin (%) -28 -8,6 -0,2
Net margin (%) -28,1 -8,6 -0,2
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) -13,9 10,7 11,7
EBITDA growth (%) -233,6 -278,8 60,4
EBITA growth (%) 140,6 -87 -277,4
EBIT growth (%) N/A -87 -277,4
Net profit growth (%) 90,2 -66 -97,7
EPS growth (%) 63,3 -69,3 -97,8
Profitability N/A N/A N/A
ROE (%) -122,6 -41,1 -0,8
ROE adj. (%) -102,5 -41,1 -0,8
ROCE (%) -24,9 -3 5,5
ROCE adj. (%) -19,6 -3 5,5
ROIC (%) -25,3 -3,2 6
ROIC adj. (%) -19,9 -3,2 6
Adj. earnings numbers N/A N/A N/A
EBITDA adj. -3 14 22
EBITDA adj. margin (%) -2,3 11,2 16
EBITDA lease adj. -12 1 11
EBITDA lease adj. margin (%) -10,7 1,1 8,3
EBITA adj. -19 -3 5
EBITA adj. margin (%) -17,1 -2,5 4
EBIT adj. -19 -3 5
EBIT adj. margin (%) -17,1 -2,5 4
Pretax profit Adj. -26 -10 0
Net profit Adj. -26 -10 0
Net profit to shareholders adj. -25 -10 0
Net adj. margin (%) -23,5 -8,6 -0,2
SEKm 2025 2026e 2027e
EBITDA -8 14 22
Goodwill 17 17 17
Net financial items -7 -7 -6
Other intangible assets 31 34 36
Paid tax 0 0 0
Tangible fixed assets 26 25 24
Non-cash items 0 0 0
Right-of-use asset 20 14 11
Cash flow before change in WC -14 6 16
Total other fixed assets 4 4 4
Change in working capital 3 7 -5
Fixed assets 98 93 92
Operating cash flow -11 13 11
Inventories 27 24 27
Capex tangible fixed assets -2 -2 -4
Receivables 16 13 15
Capex intangible fixed assets -8 -7 -8
Other current assets 5 4 4
Acquisitions and Disposals 0 0 0
Cash and liquid assets 1 14 3
Free cash flow -22 4 -1
Total assets 148 148 140
Dividend paid 0 0 0
Shareholders equity 21 30 30
Share issues and buybacks 20 20 0
Minority 7 7 7
Leasing liability amortisation -9 -11 -10
Total equity 28 37 37
Other non-cash items -13 9 7
Long-term debt 4 4 4
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 33 24 17
Total other long-term liabilities 2 2 2
Short-term debt 38 38 38
Accounts payable 12 12 14
Other current liabilities 31 30 28
Total liabilities and equity 148 148 140
Net IB debt 74 52 56
Net IB debt excl. pension debt 74 52 56
Net IB debt excl. leasing 40 28 39
Capital employed 102 103 96
Capital invested 101 89 93
Working capital 6 -1 4
Market cap. diluted (m) 186 206 206
Net IB debt adj. 74 52 56
Market value of minority 7 7 7
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 266 265 269
Total assets turnover (%) 79,8 82,1 94
Working capital/sales (%) 9 1,9 0,9
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 265,2 140,1 152,1
Net debt / market cap (%) 39,5 25,3 27,3
Equity ratio (%) 18,8 25,2 26,4
Net IB debt adj. / equity (%) 265,2 140,1 152,1
Current ratio 0,62 0,68 0,61
EBITDA/net interest 1,1 1,8 3,8
Net IB debt/EBITDA (x) -9,7 3,9 2,6
Net IB debt/EBITDA lease adj. (x) -3,4 20,7 3,5
Interest coverage 3,4 0,4 1
SEKm 2025 2026e 2027e
Shares outstanding adj. 110 122 122
Diluted shares adj. 110 122 122
EPS -0,29 -0,09 0
Dividend per share 0 0 0
EPS adj. -0,25 -0,09 0
BVPS 0,19 0,25 0,25
BVPS adj. -0,25 -0,17 -0,19
Net IB debt/share 0,67 0,43 0,46
Share price 1,69 1,69 1,69
Market cap. (m) 186 206 206
P/E (x) N/A N/A N/A
EV/sales (x) 2,4 2,2 2
EV/EBITDA (x) -35,2 19,6 12,4
EV/EBITA (x) -11,2 -85,8 49,1
EV/EBIT (x) -11,2 -85,8 49,1
Dividend yield (%) 0 0 0
FCF yield (%) -12,3 1,9 -0,7
Le. adj. FCF yld. (%) -17,2 -3,9 -5,4
P/BVPS (x) 9 6,82 6,87
P/BVPS adj. (x) -6,81 -10,02 -8,89
P/E adj. (x) N/A N/A N/A
EV/EBITDA adj. (x) -103,6 19,6 12,4
EV/EBITA adj. (x) -14,2 -85,8 49,1
EV/EBIT adj. (x) -14,2 -85,8 49,1
EV/CE (x) 2,6 2,6 2,8
Investment ratios N/A N/A N/A
Capex/sales (%) 9,4 8 9
Capex/depreciation 1,3 1,2 1,1
Capex tangibles / tangible fixed assets 9,6 9,7 16,9
Capex intangibles / definite intangibles 24,9 21,4 22,4
Depreciation on intang / def. intang 14 13,2 15,9
Depreciation on tangibles / tangibles 12,6 13,4 20,8

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Media

OrganoClick - Company presentation with CEO Mårten Hellberg
OrganoClick - Company presentation with CEO Mårten Hellberg

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Main shareholders - OrganoClick

Main shareholders Share capital % Voting shares % Verified
Peter Lindell 22.4 % 22.4 % 23 Dec 2025
Patrik Björn 9.5 % 9.5 % 23 Dec 2025
Mårten Hellberg 8.1 % 8.1 % 23 Dec 2025
Anders Wall 7.4 % 7.4 % 23 Dec 2025
Anders Wall stiftelser 5.6 % 5.6 % 23 Dec 2025
Aktia Asset Management 3.1 % 3.1 % 23 Dec 2025
Avanza Pension 2.8 % 2.8 % 23 Dec 2025
Jonas Hafrén 2.1 % 2.1 % 23 Dec 2025
Andra AP-fonden 1.5 % 1.5 % 23 Dec 2025
Per Anders Bendt 1.4 % 1.4 % 23 Dec 2025
Source: Holdings by Modular Finance AB