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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 109 123 137
Sales growth (%) -14,6 13,4 11,6
EBITDA -2 15 24
EBITDA margin (%) -1,7 11,8 17,1
EBIT adj. -13 -2 7
EBIT adj. margin (%) -11,9 -1,6 5,1
Pretax profit -25 -9 1
EPS -0,24 -0,08 0,01
EPS growth (%) 32,5 -67,9 N/A
EPS adj. -0,19 -0,08 0,01
DPS 0 0 0
EV/EBITDA (x) -132,8 16,9 10,1
EV/EBIT adj. (x) -18,5 -124,8 34,2
P/E (x) N/A N/A N/A
P/E adj. (x) N/A N/A N/A
EV/sales (x) 2,21 2 1,73
FCF yield (%) -11,9 -1,5 7
Le. adj. FCF yld. (%) -17,5 -9,2 1,9
Dividend yield (%) 0 0 0
Net IB debt/EBITDA (x) -38,6 4,2 2,2
Le. adj. ND/EBITDA (x) -6,5 152,3 2,5
SEKm 2025 2026e 2027e
Sales 109 123 137
COGS -85 -92 -96
Gross profit 23 31 41
Other operating items -25 -16 -18
EBITDA -2 15 24
Depreciation and amortisation -16 -17 -17
of which leasing depreciation -9 -8 -6
EBITA -18 -2 7
EO Items -5 0 0
Impairment and PPA amortisation 0 0 0
EBIT -18 -2 7
Net financial items -7 -7 -6
Pretax profit -25 -9 1
Tax 0 0 0
Net profit -25 -9 1
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders -24 -9 1
EPS -0,24 -0,08 0,01
EPS adj. -0,19 -0,08 0,01
Total extraordinary items after tax -5 0 0
Leasing payments -9 -14 -10
Tax rate (%) -0,3 0 0
Gross margin (%) 21,6 25 30
EBITDA margin (%) -1,7 11,8 17,1
EBITA margin (%) -16,5 -1,6 5,1
EBIT margin (%) -16,5 -1,6 5,1
Pre-tax margin (%) -22,7 -7,2 0,8
Net margin (%) -22,7 -7,2 0,8
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) -14,6 13,4 11,6
EBITDA growth (%) -131,9 -903,6 61,6
EBITA growth (%) 82,2 -89 -452,9
EBIT growth (%) 82,2 -89 -452,9
Net profit growth (%) 52,5 -64,3 -113,2
EPS growth (%) 32,5 -67,9 N/A
Profitability N/A N/A N/A
ROE (%) -87,4 -29,5 3,5
ROE adj. (%) -69,4 -29,5 3,5
ROCE (%) -18,3 -1,8 6,8
ROCE adj. (%) -13,1 -1,8 6,8
ROIC (%) -18,9 -1,9 7,2
ROIC adj. (%) -13,6 -1,9 7,2
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 3 15 24
EBITDA adj. margin (%) 2,9 11,8 17,1
EBITDA lease adj. -6 0 14
EBITDA lease adj. margin (%) -5,2 0,2 9,9
EBITA adj. -13 -2 7
EBITA adj. margin (%) -11,9 -1,6 5,1
EBIT adj. -13 -2 7
EBIT adj. margin (%) -11,9 -1,6 5,1
Pretax profit Adj. -20 -9 1
Net profit Adj. -20 -9 1
Net profit to shareholders adj. -19 -9 1
Net adj. margin (%) -18,1 -7,2 0,8
SEKm 2025 2026e 2027e
EBITDA -2 15 24
Goodwill 17 17 17
Net financial items -7 -7 -6
Other intangible assets 31 33 34
Paid tax 0 0 0
Tangible fixed assets 26 24 24
Non-cash items 0 0 0
Right-of-use asset 20 15 13
Cash flow before change in WC -8 8 18
Total other fixed assets 4 4 4
Change in working capital 0 -1 6
Fixed assets 97 93 92
Operating cash flow -8 7 24
Inventories 27 31 27
Capex tangible fixed assets -2 -2 -4
Receivables 12 14 15
Capex intangible fixed assets -8 -7 -7
Other current assets 3 4 4
Acquisitions and Disposals 0 0 0
Cash and liquid assets 5 4 7
Free cash flow -18 -3 13
Total assets 144 145 146
Dividend paid 0 0 0
Shareholders equity 27 33 34
Share issues and buybacks 20 15 0
Minority 7 7 7
Leasing liability amortisation -9 -13 -9
Total equity 34 40 41
Other non-cash items -12 10 5
Long-term debt 4 4 4
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 33 23 18
Total other long-term liabilities 2 2 2
Short-term debt 38 38 38
Accounts payable 11 12 14
Other current liabilities 23 26 29
Total liabilities and equity 144 145 146
Net IB debt 70 61 52
Net IB debt excl. pension debt 70 61 52
Net IB debt excl. leasing 37 38 34
Capital employed 108 105 101
Capital invested 104 101 93
Working capital 9 10 4
Market cap. diluted (m) 163 178 178
Net IB debt adj. 70 61 52
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 240 246 238
Total assets turnover (%) 80 85,1 94,6
Working capital/sales (%) 10,3 7,5 5
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 206,7 151,5 126,8
Net debt / market cap (%) 42,8 34 29,3
Equity ratio (%) 23,4 27,6 28,3
Net IB debt adj. / equity (%) 206,7 151,5 126,8
Current ratio 0,66 0,69 0,67
EBITDA/net interest 0,3 2,1 4,1
Net IB debt/EBITDA (x) -38,6 4,2 2,2
Net IB debt/EBITDA lease adj. (x) -6,5 152,3 2,5
Interest coverage 2,7 0,3 1,2
SEKm 2025 2026e 2027e
Shares outstanding adj. 110 120 120
Diluted shares adj. 110 120 120
EPS -0,24 -0,08 0,01
Dividend per share 0 0 0
EPS adj. -0,19 -0,08 0,01
BVPS 0,24 0,27 0,28
BVPS adj. -0,19 -0,14 -0,14
Net IB debt/share 0,64 0,5 0,43
Share price 1,49 1,49 1,49
Market cap. (m) 163 178 178
P/E (x) N/A N/A N/A
EV/sales (x) 2,2 2 1,7
EV/EBITDA (x) -132,8 16,9 10,1
EV/EBITA (x) -13,4 -124,8 34,2
EV/EBIT (x) -13,4 -124,8 34,2
Dividend yield (%) 0 0 0
FCF yield (%) -11,9 -1,5 7
Le. adj. FCF yld. (%) -17,5 -9,2 1,9
P/BVPS (x) 6,1 5,41 5,23
P/BVPS adj. (x) -7,73 -10,46 -10,42
P/E adj. (x) N/A N/A N/A
EV/EBITDA adj. (x) 75,3 16,9 10,1
EV/EBITA adj. (x) -18,5 -124,8 34,2
EV/EBIT adj. (x) -18,5 -124,8 34,2
EV/CE (x) 2,2 2,4 2,4
Investment ratios N/A N/A N/A
Capex/sales (%) 9,4 7,5 8
Capex/depreciation 1,3 1,1 1
Capex tangibles / tangible fixed assets 9,6 10,1 17,4
Capex intangibles / definite intangibles 24,8 20,4 20
Depreciation on intang / def. intang 14 14 16,4
Depreciation on tangibles / tangibles 12,6 15,9 20,6

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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 % 26 Sep 2025
Mårten Hellberg 8.1 % 8.1 % 26 Sep 2025
Anders Wall 7.2 % 7.2 % 26 Sep 2025
Patrik Björn 6.4 % 6.4 % 26 Sep 2025
Anders Wall stiftelser 5.5 % 5.5 % 26 Sep 2025
Aktia Asset Management 3.1 % 3.1 % 30 Sep 2025
Avanza Pension 2.7 % 2.7 % 26 Sep 2025
Jonas Hafrén 2.1 % 2.1 % 26 Sep 2025
Per Anders Bendt 1.6 % 1.6 % 26 Sep 2025
Andra AP-fonden 1.5 % 1.5 % 26 Sep 2025
Source: Holdings by Modular Finance AB