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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 106 113 126
Sales growth (%) -16,5 5,9 11,8
EBITDA -13 9 16
EBITDA margin (%) -12,3 7,8 12,8
EBIT adj. -24 -8 1
EBIT adj. margin (%) -22,5 -7 0,8
Pretax profit -38 -15 -7
EPS -0,35 -0,13 -0,05
EPS growth (%) 94,4 -62,2 -61,1
EPS adj. -0,28 -0,13 -0,05
DPS 0 0 0
EV/EBITDA (x) -18,7 28,7 16,2
EV/EBIT adj. (x) -10,3 -31,9 250
P/E (x) N/A N/A N/A
P/E adj. (x) N/A N/A N/A
EV/sales (x) 2,31 2,23 2,08
FCF yield (%) -12,4 -2,2 -4
Le. adj. FCF yld. (%) -17,8 -7,5 -8,3
Dividend yield (%) 0 0 0
Net IB debt/EBITDA (x) -5,7 7 3,2
Le. adj. ND/EBITDA (x) -3,4 -32,5 5,2
SEKm 2025 2026e 2027e
Sales 106 113 126
COGS -91 -87 -89
Gross profit 15 26 36
Other operating items -28 -17 -20
EBITDA -13 9 16
Depreciation and amortisation -18 -17 -15
of which leasing depreciation -10 -9 -5
EBITA -32 -8 1
EO Items -8 0 0
Impairment and PPA amortisation 0 0 0
EBIT -32 -8 1
Net financial items -7 -8 -8
Pretax profit -38 -15 -7
Tax 0 0 0
Net profit -38 -15 -7
Minority interest 2 0 0
Net profit discontinued 0 0 0
Net profit to shareholders -36 -15 -7
EPS -0,35 -0,13 -0,05
EPS adj. -0,28 -0,13 -0,05
Total extraordinary items after tax -8 0 0
Leasing payments -8 -10 -9
Tax rate (%) 0,8 0 0
Gross margin (%) 14 22,9 29
EBITDA margin (%) -12,3 7,8 12,8
EBITA margin (%) -29,7 -7 0,8
EBIT margin (%) -29,7 -7 0,8
Pre-tax margin (%) -36 -13,8 -5,3
Net margin (%) -35,7 -13,8 -5,3
Growth Rates y-o-y N/A N/A N/A
Sales growth (%) -16,5 5,9 11,8
EBITDA growth (%) -331,1 -166,8 84,1
EBITA growth (%) 220,1 -75 -113,3
EBIT growth (%) N/A -75 -113,3
Net profit growth (%) 134,6 -59,2 -56,9
EPS growth (%) 94,4 -62,2 -61,1
Profitability N/A N/A N/A
ROE (%) -164,6 -88,8 -25,3
ROE adj. (%) -129,7 -88,8 -25,3
ROCE (%) -33,9 -7,7 1
ROCE adj. (%) -25,6 -7,7 1
ROIC (%) -34,3 -8,7 1,2
ROIC adj. (%) -26 -8,7 1,2
Adj. earnings numbers N/A N/A N/A
EBITDA adj. -5 9 16
EBITDA adj. margin (%) -5,1 7,8 12,8
EBITDA lease adj. -14 -1 7
EBITDA lease adj. margin (%) -13 -1,1 5,6
EBITA adj. -24 -8 1
EBITA adj. margin (%) -22,5 -7 0,8
EBIT adj. -24 -8 1
EBIT adj. margin (%) -22,5 -7 0,8
Pretax profit Adj. -31 -15 -7
Net profit Adj. -30 -15 -7
Net profit to shareholders adj. -29 -15 -7
Net adj. margin (%) -28,5 -13,8 -5,3
SEKm 2025 2026e 2027e
EBITDA -13 9 16
Goodwill 17 17 17
Net financial items -7 -8 -8
Other intangible assets 32 34 36
Paid tax 0 0 0
Tangible fixed assets 23 22 21
Non-cash items 0 0 0
Right-of-use asset 19 12 10
Cash flow before change in WC -19 1 8
Total other fixed assets 4 4 4
Change in working capital 11 4 -5
Fixed assets 94 88 87
Operating cash flow -8 5 4
Inventories 24 23 25
Capex tangible fixed assets -2 -2 -4
Receivables 10 12 14
Capex intangible fixed assets -9 -7 -8
Other current assets 5 4 4
Acquisitions and Disposals 0 0 0
Cash and liquid assets 3 19 23
Free cash flow -19 -4 -8
Total assets 135 146 154
Dividend paid 0 0 0
Shareholders equity 15 20 33
Share issues and buybacks 20 20 20
Minority 5 5 5
Leasing liability amortisation -8 -9 -8
Total equity 20 25 38
Other non-cash items -16 7 6
Long-term debt 3 6 6
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 28 21 15
Total other long-term liabilities 2 2 2
Short-term debt 46 54 54
Accounts payable 9 11 13
Other current liabilities 27 28 26
Total liabilities and equity 135 146 154
Net IB debt 75 61 51
Net IB debt excl. pension debt 75 61 51
Net IB debt excl. leasing 47 40 36
Capital employed 98 106 113
Capital invested 96 86 90
Working capital 3 -1 4
Market cap. diluted (m) 165 185 205
Net IB debt adj. 75 61 51
Market value of minority 5 5 5
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 245 251 262
Total assets turnover (%) 81 79,9 83,9
Working capital/sales (%) 7,9 0,9 1,2
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 368,4 245,3 134,4
Net debt / market cap (%) 45,5 33 25,1
Equity ratio (%) 15,1 17 24,9
Net IB debt adj. / equity (%) 368,4 245,3 134,4
Current ratio 0,5 0,62 0,71
EBITDA/net interest 2 1,2 2,1
Net IB debt/EBITDA (x) -5,7 7 3,2
Net IB debt/EBITDA lease adj. (x) -3,4 -32,5 5,2
Interest coverage 4,7 1 0,1
SEKm 2025 2026e 2027e
Shares outstanding adj. 110 123 137
Diluted shares adj. 110 123 137
EPS -0,35 -0,13 -0,05
Dividend per share 0 0 0
EPS adj. -0,28 -0,13 -0,05
BVPS 0,14 0,16 0,24
BVPS adj. -0,3 -0,25 -0,14
Net IB debt/share 0,68 0,5 0,38
Share price 1,5 1,5 1,5
Market cap. (m) 165 185 205
P/E (x) N/A N/A N/A
EV/sales (x) 2,3 2,2 2,1
EV/EBITDA (x) -18,7 28,7 16,2
EV/EBITA (x) -7,8 -31,9 250
EV/EBIT (x) -7,8 -31,9 250
Dividend yield (%) 0 0 0
FCF yield (%) -12,4 -2,2 -4
Le. adj. FCF yld. (%) -17,8 -7,5 -8,3
P/BVPS (x) 10,88 9,4 6,21
P/BVPS adj. (x) -4,92 -5,92 -10,42
P/E adj. (x) N/A N/A N/A
EV/EBITDA adj. (x) -45,4 28,7 16,2
EV/EBITA adj. (x) -10,3 -31,9 250
EV/EBIT adj. (x) -10,3 -31,9 250
EV/CE (x) 2,5 2,4 2,3
Investment ratios N/A N/A N/A
Capex/sales (%) 10,4 8 9
Capex/depreciation 1,3 1,1 1,1
Capex tangibles / tangible fixed assets 9,8 10,4 17,9
Capex intangibles / definite intangibles 27,5 19,8 21
Depreciation on intang / def. intang 15,6 13,1 16,2
Depreciation on tangibles / tangibles 16,4 15,5 20,5

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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