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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 2024 2025e 2026e
Sales 127 118 135
Sales growth (%) -12,8 -7,3 14,1
EBITDA 6 2 18
EBITDA margin (%) 4,5 1,8 13,6
EBIT adj. -10 -14 2
EBIT adj. margin (%) -7,8 -11,5 1,2
Pretax profit -16 -20 -7
EPS -0,18 -0,2 -0,07
EPS growth (%) 12,5 8,9 -66,1
EPS adj. -0,18 -0,2 -0,07
DPS 0 0 0
EV/EBITDA (x) 41,2 127,8 15,4
EV/EBIT adj. (x) -23,7 -20,5 174,4
P/E (x) N/A N/A N/A
P/E adj. (x) N/A N/A N/A
EV/sales (x) 1,84 2,34 2,09
FCF yield (%) -3,1 -9,9 -0,7
Le. adj. FCF yld. (%) -8,1 -15,9 -7,3
Dividend yield (%) 0 0 0
Net IB debt/EBITDA (x) 8,7 33,2 4,2
Le. adj. ND/EBITDA (x) -10,5 -4,1 13,1
SEKm 2024 2025e 2026e
Sales 127 118 135
COGS -95 -90 -92
Gross profit 32 28 43
Other operating items -26 -26 -25
EBITDA 6 2 18
Depreciation and amortisation -16 -16 -17
of which leasing depreciation -8 -8 -8
EBITA -10 -14 2
EO Items 0 0 0
Impairment and PPA amortisation 0 0 0
EBIT -10 -14 2
Net financial items -6 -7 -9
Pretax profit -16 -20 -7
Tax 0 0 0
Net profit -16 -20 -7
Minority interest -2 0 0
Net profit discontinued 0 0 0
Net profit to shareholders -18 -20 -7
EPS -0,18 -0,2 -0,07
EPS adj. -0,18 -0,2 -0,07
Total extraordinary items after tax 0 0 0
Leasing payments -9 -12 -14
Tax rate (%) -1,1 0,1 0
Gross margin (%) 25 23,9 32
EBITDA margin (%) 4,5 1,8 13,6
EBITA margin (%) -7,8 -11,5 1,2
EBIT margin (%) -7,8 -11,5 1,2
Pre-tax margin (%) -12,6 -17,2 -5,4
Net margin (%) -12,7 -17,2 -5,4
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) -12,8 -7,3 14,1
EBITDA growth (%) -3,1 -61,8 744,2
EBITA growth (%) 6,9 37 -112
EBIT growth (%) 6,9 37 -112
Net profit growth (%) 14,3 25,2 -63,9
EPS growth (%) 12,5 8,9 -66,1
Profitability N/A N/A N/A
ROE (%) -48,9 -70,5 -29,8
ROE adj. (%) -48,9 -70,5 -29,8
ROCE (%) -10,4 -12,8 1,4
ROCE adj. (%) -10,4 -12,8 1,4
ROIC (%) -11,2 -13,9 1,5
ROIC adj. (%) -11,2 -13,9 1,5
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 6 2 18
EBITDA adj. margin (%) 4,5 1,8 13,6
EBITDA lease adj. -4 -10 4
EBITDA lease adj. margin (%) -2,9 -8,1 3
EBITA adj. -10 -14 2
EBITA adj. margin (%) -7,8 -11,5 1,2
EBIT adj. -10 -14 2
EBIT adj. margin (%) -7,8 -11,5 1,2
Pretax profit Adj. -16 -20 -7
Net profit Adj. -16 -20 -7
Net profit to shareholders adj. -18 -20 -7
Net adj. margin (%) -12,7 -17,2 -5,4
SEKm 2024 2025e 2026e
EBITDA 6 2 18
Goodwill 17 17 17
Net financial items -6 -7 -9
Other intangible assets 28 31 33
Paid tax 0 0 0
Tangible fixed assets 15 27 26
Non-cash items 0 0 0
Right-of-use asset 14 23 19
Cash flow before change in WC -1 -4 9
Total other fixed assets 4 4 4
Change in working capital 4 -4 -1
Fixed assets 77 101 98
Operating cash flow 4 -8 8
Inventories 32 29 34
Capex tangible fixed assets -2 -3 -3
Receivables 14 13 15
Capex intangible fixed assets -7 -7 -7
Other current assets 3 3 4
Acquisitions and Disposals 0 0 0
Cash and liquid assets 1 15 6
Free cash flow -6 -18 -1
Total assets 127 162 156
Dividend paid 0 0 0
Shareholders equity 29 28 21
Share issues and buybacks 0 18 0
Minority 9 8 8
Leasing liability amortisation -9 -11 -13
Total equity 38 36 29
Other non-cash items 0 -10 9
Long-term debt 3 5 6
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 10 33 24
Total other long-term liabilities 4 3 3
Short-term debt 36 49 53
Accounts payable 10 12 13
Other current liabilities 26 25 28
Total liabilities and equity 127 162 156
Net IB debt 49 72 77
Net IB debt excl. pension debt 49 72 77
Net IB debt excl. leasing 39 39 54
Capital employed 87 123 111
Capital invested 87 108 106
Working capital 14 9 10
Market cap. diluted (m) 176 197 197
Net IB debt adj. 49 72 77
Market value of minority 9 8 8
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 234 276 282
Total assets turnover (%) 91,6 81,6 84,7
Working capital/sales (%) 9,5 9,7 7,3
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 129,8 199,3 268,9
Net debt / market cap (%) 28 36,4 39,2
Equity ratio (%) 29,8 22,2 18,4
Net IB debt adj. / equity (%) 129,8 199,3 268,9
Current ratio 0,69 0,71 0,61
EBITDA/net interest 0,9 0,3 2
Net IB debt/EBITDA (x) 8,7 33,2 4,2
Net IB debt/EBITDA lease adj. (x) -10,5 -4,1 13,1
Interest coverage 1,6 1,9 0,2
SEKm 2024 2025e 2026e
Shares outstanding adj. 98 110 110
Diluted shares adj. 98 110 110
EPS -0,18 -0,2 -0,07
Dividend per share 0 0 0
EPS adj. -0,18 -0,2 -0,07
BVPS 0,3 0,26 0,19
BVPS adj. -0,16 -0,18 -0,26
Net IB debt/share 0,5 0,65 0,7
Share price 1,79 1,79 1,79
Market cap. (m) 176 197 197
P/E (x) N/A N/A N/A
EV/sales (x) 1,8 2,3 2,1
EV/EBITDA (x) 41,2 127,8 15,4
EV/EBITA (x) -23,7 -20,5 174,4
EV/EBIT (x) -23,7 -20,5 174,4
Dividend yield (%) 0 0 0
FCF yield (%) -3,1 -9,9 -0,7
Le. adj. FCF yld. (%) -8,1 -15,9 -7,3
P/BVPS (x) 6,06 6,98 9,43
P/BVPS adj. (x) -11,17 -10,09 -6,81
P/E adj. (x) N/A N/A N/A
EV/EBITDA adj. (x) 41,2 127,8 15,4
EV/EBITA adj. (x) -23,7 -20,5 174,4
EV/EBIT adj. (x) -23,7 -20,5 174,4
EV/CE (x) 2,7 2,3 2,5
Investment ratios N/A N/A N/A
Capex/sales (%) 7,2 8,8 7
Capex/depreciation 1,2 1,4 1,1
Capex tangibles / tangible fixed assets 13,1 10,8 10,4
Capex intangibles / definite intangibles 25,7 24,1 20,4
Depreciation on intang / def. intang 15 14,3 14
Depreciation on tangibles / tangibles 21,1 11,4 15,8

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Media

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

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Main shareholders - OrganoClick

Main shareholders Share capital % Voting shares % Verified
Peter Lindell 21.8 % 21.8 % 26 Jun 2025
Mårten Hellberg 7.9 % 7.9 % 25 Feb 2025
Anders Wall 7.2 % 7.2 % 26 Jun 2025
Anders Wall stiftelser 5.5 % 5.5 % 26 Jun 2025
eQ Asset Management Oy 3.8 % 3.8 % 30 Jun 2025
Aktia Asset Management 3.2 % 3.2 % 26 Jun 2025
Patrik Björn 3.1 % 3.1 % 26 Jun 2025
Avanza Pension 2.8 % 2.8 % 26 Jun 2025
Jonas Hafrén 2.2 % 2.2 % 26 Jun 2025
Andra AP-fonden 1.7 % 1.7 % 26 Jun 2025
Source: Holdings by Modular Finance AB