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1. Company Snapshot

1.a. Company Description

Vestum AB (publ) engages in the clothes manufacturing and sale, construction, and infrastructure businesses in Sweden.The company designs, markets, and sells clothes and accessories, including urban functional garments in the premium streetwear segment under the WeSC brand for women and men in Sweden and internationally.It also provides demolition, remediation, and drilling services with a focus on construction-related, insurance, and real estate companies; contractor services for the assembly and installation of automation and passage systems for companies, municipalities, and private individuals; construction services primarily in the areas of railway environment and public transport projects; and aluminum and glass solutions to the housing and construction markets for customers in the segments of retailers, small house manufacturers, glaziers, construction companies, and private.


In addition, the company engages in renting and selling containers and road products for construction-related operations, which include refrigerated, storage, construction, and office containers, as well as drive plates; the ground, assembly, and construction works related to infrastructure, such as roads, railways, pipelines, and communications; the supply of electrical installations and designs; and the provision of works related to power and lighting in private and public environments.It offers its clothes and accessories through e-commerce and resellers.The company was formerly known as WeSC AB (publ) and changed its name to Vestum AB (publ) in June 2021.


Vestum AB (publ) was incorporated in 1999 and is based in Stockholm, Sweden.

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1.b. Last Insights on VESTUM

Vestum AB's recent performance was negatively impacted by deepening losses, with a 23.4% annual increase in deficits over the past five years. Despite projected 5.1% revenue growth, outpacing the Swedish market average, profitability challenges persist. The company's Q3 2025 earnings call highlighted improved EBITDA margins and strategic acquisitions, but also competitive pressures and sales declines. With net profit margins showing no improvement, Vestum's turnaround narrative remains challenging. Analysts forecast a surge in earnings at 103.7% per year, but expect the company to turn profitable within three years.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Vestum AB (FRA:W0S) Q3 2025 Earnings Call Highlights: Navigating Growth and Challenges

Oct -24

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Vestum (OM:VESTUM): Losses Deepen 23.4% Annually, Challenging Turnaround Narrative Despite Revenue Growth

Oct -23

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Vestum AB (FRA:W0S) Q1 2025 Earnings Call Highlights: A Return to Positive Organic Growth and ...

Apr -30

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Swedish Growth Leaders With High Insider Ownership For May 2024

May -15

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.89%)

6. Segments

Infrastructure

Expected Growth: 1.8%

Vestum AB's 1.8% growth in Infrastructure is driven by increasing demand for sustainable transportation solutions, government investments in smart city initiatives, and rising adoption of digital twins for infrastructure management. Additionally, the company's focus on renewable energy and green infrastructure projects contributes to its growth momentum.

Services

Expected Growth: 2.2%

Vestum AB's 2.2% growth is driven by increasing demand for digital transformation services, expansion into new markets, and strategic partnerships. The company's expertise in IT consulting, software development, and data analytics has enabled it to capitalize on the growing need for businesses to adapt to digitalization.

Water

Expected Growth: 1.5%

Water segment growth of 1.5% driven by increasing demand for efficient water management solutions, stringent regulations, and rising concerns over water scarcity. Additionally, Vestum AB's innovative products and services, such as water recycling and desalination, are expected to contribute to the growth.

7. Detailed Products

Diabolo

A high-precision, high-speed milling machine designed for the production of complex components in the aerospace, automotive, and industrial manufacturing industries.

Helix

A 5-axis machining center designed for the production of complex components in the aerospace, automotive, and industrial manufacturing industries.

Fiber Placement

A system for the automated production of composite components, such as aircraft parts, wind turbine blades, and other complex structures.

Automated Fiber Placement (AFP)

A system for the automated production of composite components, such as aircraft parts, wind turbine blades, and other complex structures.

Tape Laying

A system for the automated production of composite components, such as aircraft parts, wind turbine blades, and other complex structures.

3D Printing

A system for the additive manufacturing of complex components, such as aircraft parts, medical implants, and other custom parts.

8. Vestum AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Vestum AB (publ) is medium due to the availability of alternative investment options for customers.

Bargaining Power Of Customers

The bargaining power of customers for Vestum AB (publ) is low due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Vestum AB (publ) is medium due to the company's dependence on a few key suppliers.

Threat Of New Entrants

The threat of new entrants for Vestum AB (publ) is high due to the relatively low barriers to entry in the industry.

Intensity Of Rivalry

The intensity of rivalry for Vestum AB (publ) is high due to the competitive nature of the industry and the presence of several established players.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 33.69%
Debt Cost 12.52%
Equity Weight 66.31%
Equity Cost 14.20%
WACC 13.63%
Leverage 50.80%

11. Quality Control: Vestum AB (publ) passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
OHL

A-Score: 4.6/10

Value: 9.1

Growth: 4.0

Quality: 3.8

Yield: 0.0

Momentum: 9.5

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
Instalco

A-Score: 4.5/10

Value: 6.7

Growth: 7.4

Quality: 6.2

Yield: 4.4

Momentum: 1.0

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
Polimex-Mostostal

A-Score: 4.3/10

Value: 8.3

Growth: 4.1

Quality: 2.6

Yield: 0.0

Momentum: 10.0

Volatility: 0.7

1-Year Total Return ->

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Fasadgruppen

A-Score: 4.2/10

Value: 8.7

Growth: 6.0

Quality: 2.5

Yield: 5.0

Momentum: 1.5

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
YIT

A-Score: 3.9/10

Value: 6.7

Growth: 0.6

Quality: 2.5

Yield: 3.8

Momentum: 7.0

Volatility: 3.0

1-Year Total Return ->

View Full Report
Stock-Card
Vestum

A-Score: 3.7/10

Value: 7.6

Growth: 5.9

Quality: 3.4

Yield: 0.0

Momentum: 3.5

Volatility: 2.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

8.85$

Current Price

8.85$

Potential

-0.00%

Expected Cash-Flows