Lond Capital — Investment Research
Independent single-page institutional briefs on under-covered listed companies across Europe and North America, grouped by sector. Use the sector buttons below to jump to a section, then download any company's full PDF brief.
LOND CAPITAL · Investor Relations · Updated June 2026
Consumer
Lond Capital — Investment Research
Independent single-page institutional briefs on under-covered listed companies across Europe and North America, grouped by sector. Use the sector buttons below to jump to a section, then download any company's full PDF brief.
LOND CAPITAL · Investor Relations · Updated June 2026
Sector: Consumer
Consumer
Volkswagen
Xetra: VOW3 · ~€45bn
Europe's largest carmaker executing a €1bn-per-quarter overhead reduction, on ~6% dividend yield and a deep sum-of-the-parts discount against its Porsche and Audi holdings.
Marriott Vacations Worldwide
NYSE: VAC · ~$3.0bn
~120 vacation-ownership resorts and ~700,000 owner families on a ~3.7% yield, with post-Q1 restructuring under an interim CEO and a Goldman Sachs upgrade to Buy.
OVS
Euronext Milan: OVS · ~€1.1bn
FY 2024 net sales of €1,631m (+6.2%) with €195m EBITDA, a dividend raised 57% and an active buyback across the OVS, Upim and Stefanel brands.
Sector: Consumer
Consumer (continued)
Tiger Brands
JSE: TBS
Century-old South African brand champion delivering strong H1 2026 volume growth and operating-income improvement under CEO Tjaart Kruger's reset strategy.
LDC
Paris: LOUP · ~€3.6bn
Family-controlled French poultry and ready-meals champion compounding quietly at ~13–14x earnings with net cash — a steady compounder in defensive consumer staples.
SIPEF
Euronext Brussels: SIP · ~€815m
Sustainably certified palm oil with bananas, rubber and tea across 85,800 hectares; ~9.6x trailing P/E after a +205% five-year shareholder return.
Sector: Consumer
Consumer (continued)
DN Agrar
BVB: DN · RON 490m
Largest integrated dairy farm in Romania at 9.8x earnings with a 45% EBITDA margin and a BVB Main Market upgrade targeted H1 2027.
AGRANA
Vienna: AGR · €722m
World #1 in fruit preparations at 0.34x EV/Sales with management guiding EBIT to more than double — 81% controlled by Südzucker.
Emak
BIT: EM · ~€150m
49% gross-margin outdoor-power-equipment maker trading at 2–3x EV/EBITDA against Husqvarna's 7–9x. Oleo-Mac + Efco + Bertolini + Comet + IPC brands.
Sector: Consumer
Consumer (continued)
Vanadi Coffee
BME Growth
Alicante coffee chain pivoted into a Bitcoin treasury vehicle — 161 BTC held, a €1bn investment plan approved, and a +242% share move in 30 days.
Nestlé
SIX: NESN · SMI mega-cap
FY 2025 FCF CHF 9.2bn / net debt CHF 51.4bn (2.85x adj EBITDA); proposed dividend CHF 3.10 = 66th consecutive year of growth; Nutrition + Health Science integration; Froneri ice-cream sale advanced.
Aryzta
SIX: ARYN
International specialty bakery (Zurich-based); FY 2025 revenue €2.223bn / organic +1.5% / EBITDA €306.9m (margin 13.8%); FCF €120m; Rest-of-World EBITDA margin +110bps to 20.9%; mid-term EBITDA ≥15% / EBIT ≥9%.
Sector: Consumer
Consumer (continued)
Villeroy & Boch
Xetra: VIB3
275-year-old German tableware + ceramic bathroom champion combining heritage luxury consumer brand with industrial bathroom products division.
COFCO Joycome Foods
HKEX: 1610
Hong Kong-listed pork producer and meat processor; subsidiary of Chinese SOE COFCO Group, exposed to China's protein consumption growth.
MasterCraft Boat Holdings
Nasdaq: MCFT
US premium recreational boat maker (MasterCraft, Crest, Aviara brands) at a cyclical trough — a discretionary consumer play on the US recreation cycle.
Sector: Consumer
Consumer (continued)
Givaudan
SIX: GIVN · CHF 26.9bn
131 years of compounding in taste and scent, an 18.5% EBIT margin business trading ~30% below its 52-week high — a quality compounder at a rare entry point.
Synergy CHC
OTCQB: SNYR
US consumer health portfolio (FOCUSfactor, Flat Tummy Tea, Hand MD) with branded OTC and DTC channels — a small-cap consumer health roll-up.
Polygiene Group
Nasdaq First North: POLYG
Swedish leader in odour-control and antimicrobial textile additives, supplying global apparel brands — a niche consumer-tech IP licensor.
Sector: Financials
Financials
Banca Mediolanum
BIT: BMED · ~€13.5bn
Family Banker advisory network compounding at +205% five-year total return, with Q1 net income of €277m, a ~6.7% yield and a strategic Mediobanca stake.
Metro Bank Holdings
LSE: MTRO · ~£780m
FY 2025 delivered record underlying profit of £98m and a record 3.17% NIM, yet the shares trade at ~14x earnings and roughly 60% below the ~266p consensus target.
SpareBank 1 SMN
Oslo: MING · NOK 27.5bn
Mid-Norway's leading bank at 17.1% CET1 with a ~7% yield, trading below book at ~10x earnings — a high-quality regional franchise at an undemanding valuation.
Sector: Financials
Financials (continued)
SpareBank 1 Sør-Norge
Oslo: SRBNK
South-Norway's leading regional bank, formed by the 2025 merger of SR-Bank and SpareBank 1 Sørøst; strong CET1 + ROE profile in the Nordic regional banking sector.
CRDB Bank
DSE: CRDB · ~$3bn
Tanzania's leading bank by assets, loans and deposits — up 260% in a year on a structural frontier re-rating yet still trading at ~10x trailing earnings.
Kruso Kapital
Euronext Growth Milan: KK · ~€35m
ProntoPegno pawn lending across Italy, Greece and Portugal plus the Art-Rite auction house; H1 profit +100% YoY on €124m of pawn loans, within the Banca CF+ group.
Sector: Financials
Financials (continued)
Matador Secondary Private Equity
BX Swiss: SQL · CHF 63m
Two decades of ~12% NAV CAGR with exposure to SpaceX and other late-stage names at a discount — a rare listed route to private-market secondaries.
Vivaris Capital
Private · San Diego & Puerto Rico
Alternative-asset firm targeting a $1.5bn raise on a downside-protected private-equity hedge-fund model — capital preservation with alternative-market upside.
Swiss Re
SIX: SREN · SMI
FY 2025 record net income $4.8bn (+47%) beating $4.4bn target; P&C Re combined ratio 79.4%; SST 250%; $8.00 dividend (+9%); $1.5bn 2026 buyback (incl $500m sustainable).
Sector: Financials
Financials (continued)
Munich Re
Xetra: MUV2 · DAX mega-cap
World's largest reinsurer with diversified primary insurance (ERGO) operations; multi-decade dividend record + record solvency capital and strong reserving discipline.
Sava Re
LJSE: POSR
Slovenian reinsurer + primary insurer group with regional Adriatic footprint — discounted valuation versus Western European peers at high CET1.
Nicolet Bankshares
NYSE: NIC
Wisconsin-based US community bank growing organically and through acquisitions across the upper Midwest — high-performance regional bank at conservative multiples.
Sector: Financials
Financials (continued)
OptimumBank Holdings
Nasdaq: OPHC
Florida-based community bank with rapid loan growth and capital raises; small-cap US bank levered to South Florida property and SME lending.
China Everbright
HKEX: 165
Hong Kong-listed diversified financial holding (asset management, securities, banking) — a cyclical play on China financial-services normalisation.
Freedom Holding
Nasdaq: FRHC
Kazakhstan-headquartered diversified financial services group (brokerage, banking, insurance, telecom) with a US listing — frontier-markets growth at developed-market disclosure.
Sector: Financials
Financials (continued)
Línea Directa Aseguradora
BME: LDA
Spanish direct-to-consumer motor + home insurer with strong digital distribution; pure-play P&C insurance in the Iberian market.
MLP
Xetra: MLP
German integrated financial services group serving academic professionals — wealth management, banking and insurance with multi-decade compounding history.

Sector: Energy & Resources
Energy & Resources
BW Energy
Oslo: BWE · ~US$1.4bn
Production set to quadruple to 100,000+ bopd by 2028 across Gabon, Brazil and Namibia — one of the most compelling production-growth stories in listed E&P.
Tower Resources
LSE AIM: TRP · ~£9m
Thali PSC offshore Cameroon, PEL 96 Namibia and Algoa-Gamtoos South Africa, led by Chairman & CEO Jeremy Asher (formerly Marc Rich & Co.).
Bass Oil
ASX: BAS · ~AU$20m
Cooper Basin and South Sumatra producer entering the East Coast Gas Market, with first Vanessa gas under a binding three-year contract with Origin Energy.
Sector: Energy & Resources
Energy & Resources (continued)
Soluna Holdings
Nasdaq: SLNH · ~$190m
4.3GW project pipeline monetising stranded renewable energy for computing, revenue +58% with the Briscoe wind deal closing — a clean-energy + data-infrastructure crossover.
Altech Batteries
ASX: ATC · ~A$72m
Saxony CERENERGY battery plant where the €46.7m awarded grant exceeds the enterprise value; Silumina Anodes pilot operational — a potential re-rating catalyst.
Termo2Power (Corey Europe)
Warsaw NewConnect: T2P / COR1 · ~PLN 4.6m
Renamed Corey Europe in June 2025 and repositioned around microgrid solutions and containerised battery energy-storage systems — a pivotal strategic transformation.
Sector: Energy & Resources
Energy & Resources (continued)
Rockhopper Exploration
LSE AIM: RKH
UK-listed oil & gas explorer focused on the Sea Lion field offshore Falkland Islands; a long-dated development story with material upside on FID.
Minesto
Nasdaq First North: MINEST
Swedish tidal-energy developer with operational Faroe Islands array; deploying Dragon underwater kite turbines — pre-commercial marine renewable-power technology.
Hunting
LSE: HTG
UK-listed global oilfield services and precision-engineered manufactured products group, levered to US shale and international drilling activity.
Sector: Energy & Resources
Energy & Resources (continued)
Energy Time
Italian listed
Italian listed energy services / efficiency play, exposed to the EU energy-transition opex cycle.
Sif Holding
Euronext Amsterdam: SIFG
Dutch market leader in monopile foundations for offshore wind — a critical-equipment supplier to the European offshore wind buildout.
HMS Bergbau
Xetra: HMU
Berlin-based independent global commodity-trading and mining-services group, primarily coal — a niche listed commodities trader.
Sector: Energy & Resources
Energy & Resources (continued)
Photon Energy
Xetra / WSE / Prague: PEN
European solar IPP and EPC services group across CEE, Australia and the Americas — vertically integrated renewable-power developer.


Sector: Metals & Mining
Metals & Mining
Endeavour Mining
LSE / TSX: EDV · ~CA$20bn
1Moz+ West African gold producer whose record Q1 2026 delivered $613m of free cash flow and a swing to $405m net cash, with a ~2.3% yield.
Hecla Mining
NYSE: HL · ~$13bn
The largest US silver producer — record sequential Q1 revenue of $411m, a debt-free balance sheet and all four mines free-cash-flow positive.
Cerrado Gold
TSXV: CERT · ~CA$200m
Record Q1 2026 EBITDA of $28.7m from Minera Don Nicolas in Argentina, with the Monte do Carmo feasibility showing US$390m NPV at 34% IRR; +355% over one year.
Sector: Metals & Mining
Metals & Mining (continued)
Integra Resources
TSXV: ITR / NYSE American: ITRG
Great Basin producer with Florida Canyon generating 70–75k oz at a 40% operating margin, plus the DeLamar and Nevada North development pipeline.
PPX Mining
TSXV: PPX · ~CA$210m
Callanquitas underground producing at 71% margins with Q1 net production income of CA$8.9m — exceptional margin quality for a junior producer.
Copper Fox Metals
TSXV: CUU · CA$405m
25% carried interest in Schaft Creek with Teck funding a CA$9.1m programme toward pre-feasibility — a low-cost route to a world-class copper deposit.
Sector: Metals & Mining
Metals & Mining (continued)
Minaurum Silver
TSXV: MGG · ~CA$233m
Fully permitted Alamos silver project with 55Moz AgEq and a 50,000m drill programme under way — one of the largest fully permitted silver projects in Mexico.
Galloper Gold
CSE: BOOM
100% owner of the Glover Island LPSE deposit with an April 2026 MRE of 121 koz Indicated and 219 koz Inferred, backed by a Dundee Precious Metals investment.
Lode Gold Resources
TSXV: LOD
100% owner of Fremont Gold Mine in California with 1.11 Moz M&I and 1.99 Moz Inferred, after the Gold Orogen spin-out listed on the CSE in February 2026.
Sector: Metals & Mining
Metals & Mining (continued)
Lake Victoria Gold
TSXV: LVG
Consolidator of the Lake Victoria Goldfield, backed by a Barrick equity investment and a strategic Taifa Group partnership — institutional validation at micro-cap.
Trifecta Gold
TSXV: TG · ~CA$11m
Eleven Tombstone Belt projects with Rye returning 1.02 g/t over 37m and Crescat Capital backing — a high-optionality Yukon explorer at a micro-cap entry point.
Viva Gold
TSXV: VAU · ~C$28m
Trading at 5–6% of the US$364m project NPV with 504k oz M&I on the Walker Lane trend — an extreme valuation discount to in-situ resource value.
Sector: Metals & Mining
Metals & Mining (continued)
South Star Battery Metals
TSXV: STS · ~CA$12m
100% owner of Santa Cruz in Brazil — the first new natural-flake graphite mine in the Americas this century — with Phase 2 (25 ktpy) targeted for 2026.
Bold Ventures
TSXV: BOL
Six-project Ontario and Quebec portfolio with a June 2026 rare-earth discovery of 1,022 ppm TREO over 55.2m at Burchell, plus 10% carried interest in Ring of Fire chromite.
Progressive Planet
TSXV: PLAN
Profitable turnaround with Q1 FY 2026 net income up 328% YoY and products in 10,000+ North American retail locations; +167% one-year return.
Sector: Metals & Mining
Metals & Mining (continued)
MineralRite
OTCID: RITE
Dallas-based story-stage miner built around the Skull Valley lease and December 2024 acquisitions, with active capital-structure and governance work under way.
Gold Vault Capital
Private · Nevada reclamation
US reclamation company with a 32-site Nevada abandoned-mine portfolio holding 2.5m tons of material, BLM approval received Q1 2026, production targeted Q2 2026.
Timeless Resources
Listed mining junior
Listed mining exploration junior — speculative resource development opportunity at the micro-cap level.
Sector: Metals & Mining
Metals & Mining (continued)
Vox Royalty
Nasdaq: VOXR / TSXV: VOXR
Mining royalty and streaming company with a diversified portfolio of precious-metals royalties — a low-cost levered exposure to producer revenue.
Rayonier Advanced Materials
NYSE: RYAM
World leader in high-purity cellulose specialties for industrial, food, and pharmaceutical end markets — a specialty materials play with rebound optionality.

Sector: Healthcare
Healthcare
AMN Healthcare
NYSE: AMN
The largest US healthcare staffing company by revenue, serving 2,000+ healthcare systems including 87% of the top US systems — a dominant position in a structurally undersupplied sector.
Abivax
Euronext Paris / Nasdaq: ABVX
Obefazimod delivered ~50% Week-44 remission versus 10.4% placebo in Phase 3 ulcerative colitis maintenance; €491.6m cash and a US NDA planned for late Q4 2026.
Solvonis Therapeutics
LSE: SVNS · ~£18m
SVN-001 entering Phase 3 for severe alcohol-use disorder — a large unserved indication at a deep-value market cap. A binary catalyst approaching for a neglected area.
Sector: Healthcare
Healthcare (continued)
Devonian Health Group
TSXV: GSD · ~CA$32m
Thykamine Phase 3-ready in ulcerative colitis with a 1-for-60 consolidation completed ahead of a planned US listing — a botanical approach to an established indication.
Intelligent Bio Solutions
Nasdaq: INBS
Fingerprint-sweat drug-screening system with 1,000+ readers installed and 450+ customer accounts across 24 countries, plus a saliva glucose biosensor platform.
Double Bond Pharmaceutical
Spotlight: DBP-B · SEK 29.5m
Two EMA orphan drug designations against an enterprise value of roughly US$3m — an extreme valuation anomaly for a company with regulatory-validated pipeline assets.
Sector: Healthcare
Healthcare (continued)
Roche Holding
SIX: ROG · SMI mega-cap
FY 2025 sales CHF 61.52bn (+7% CER); Pharma CHF 47.7bn (+9% CER); Core EPS CHF 19.46 (+11% CER); dividend CHF 9.80 (+1%) = 39th consecutive year of growth; founder family pool 64.97%.
Idorsia
SIX: IDIA
Allschwil-based commercial-stage biopharma; CEO Srishti Gupta MD; QUVIVIQ (daridorexant) commercial; daridorexant pediatric Phase 2 readout Q2 2026; lucerastat Fabry Phase 3; TRYVIO/JERAYGO 2025 approvals.
Basilea Pharmaceutica
SIX: BSLN
Allschwil commercial-stage biopharma for severe bacterial + fungal infections; FY 2025 revenue CHF 232.4m (+11%) / NI CHF 40.2m / net cash tripled to CHF 50.7m; Zevtera US launch; fosmanogepix Phase 3.
Sector: Healthcare
Healthcare (continued)
Fresenius Medical Care
Xetra: FME · DAX
World's largest dialysis-services and products company with vertically integrated clinics and equipment manufacturing — a defensive healthcare-services compounder.
Eukedos
Euronext Growth Milan: EUK
Italian senior-care and assisted-living operator across 30+ residences — long-dated demographic compounder in Italian elderly care.
Episurf Medical
Nasdaq First North: EPIS B
Swedish orthopaedic medtech developing individualised knee-cartilage implants — patient-specific implants targeting an underserved orthopaedic market.
Sector: Healthcare
Healthcare (continued)
Diamyd Medical
Nasdaq Stockholm: DMYD B
Swedish diabetes biotech with the Diamyd antigen-specific immunotherapy in Phase 3 for Type 1 diabetes — a long-awaited disease-modifying readout.
Cyxone
Nasdaq First North: CYXO
Swedish autoimmune drug-development biotech with assets in MS and rheumatoid arthritis — clinical-stage small-cap immunology.
Mendus
Nasdaq Stockholm: IMMR
Swedish cell-immunotherapy biotech (formerly Immunicum), developing vididencel in AML and other cancer indications — Phase 2 cancer-relapse prevention.
Sector: Healthcare
Healthcare (continued)
BrainStorm Cell Therapeutics
Nasdaq: BCLI
US/Israeli developer of NurOwn autologous cell therapy for ALS and progressive MS — late-stage neurodegenerative biotech with FDA engagement.
SoftOx Solutions
Euronext Growth Oslo: SOFTOX
Norwegian biotech developing patented hypochlorous acid antimicrobials for chronic wounds and disinfection — bridging biotech + medical device.
Nexalin Technology
Nasdaq: NXL
US medical device company commercialising non-invasive deep brain neurostimulation for anxiety, depression and insomnia.
Sector: Healthcare
Healthcare (continued)
Clinical Laserthermia Systems
Nasdaq First North: CLS B
Swedish medical device developer of immune-stimulating laser oncology systems (TRANBERG) for tumour ablation — niche oncology medtech.
SenzaGen
Nasdaq First North: SENZA
Swedish in-vitro skin sensitisation testing platform replacing animal testing for cosmetics + chemicals — regulatory-tailwind life sciences play.
Elanix Biotechnology
BX Swiss / OTC
Epalinges-based tissue-regeneration + cell-tech biotech (~10 employees) — early-stage regenerative medicine micro-cap.
Sector: Industrials
Industrials
Canadian National Railway
TSX / NYSE: CNR / CNI · ~CA$90bn
19,600-mile coast-to-coast Class-1 network moving 300m+ tonnes annually, with 30 consecutive years of dividend increases and $869m of Q1 buybacks.
Finnair
Nasdaq Helsinki: FIA1S
Q1 2026 clean inflection: revenue +12.1% to €778m and the operating result improved from −€62.6m to −€0.6m, with FY guidance of €120–190m.
PALFINGER
Vienna: PAL · €1.24bn
World #1 in loader cranes at 7x earnings versus peer Hiab's 10.5x, with net debt cut by more than €200m — a global market leader at a meaningful valuation discount.
Sector: Industrials
Industrials (continued)
TORM
CPH: TRMD A / Nasdaq: TRMD · ~$2.9bn
~90-vessel product tanker fleet on a ~8% dividend yield with upgraded full-year guidance — a high-yield shipping franchise with improving earnings visibility.
Frequentis
Vienna / Frankfurt: FQT · €955m
Global #1 in safety-critical ATC voice communications at ~1.6x EV/Sales versus defence-electronics peers at 2.5–4x — mission-critical niche at a discount.
Kapsch TrafficCom
Vienna Prime: KTCG · ~€77m
Global tolling and ITS provider (founded 1892, ~€530m revenue) at an all-time-low share price after a nine-month shortfall, with FY results due 17 June 2026.
Sector: Industrials
Industrials (continued)
Silgan Holdings
NYSE: SLGN · ~$4.2bn
22 consecutive years of dividend increases at ~14x earnings near the 52-week low, with medical-packaging M&A optionality — a compounding dividend grower at a cyclical trough.
StrongPoint
Oslo: STRO · NOK 463m
Sainsbury's-anchored grocery-tech vendor with UK revenue +93%, trading at 0.41x EV/Sales — a high-growth retail-technology niche at a deep revenue multiple discount.
Aduro Clean Technologies
Nasdaq: ADUR · US$493m
Water-based Hydrochemolytic plastic recycling achieving 75–80% yields, with a first commercial offtake LOI signed — proprietary process technology at the forefront of the circular economy.
Sector: Industrials
Industrials (continued)
DBA Group
Euronext Growth Milan: DBA
Founder-family software and infrastructure-engineering group trading at an all-time-high €4.38 reached in May 2026 — momentum and quality in a founder-led Italian tech champion.
Groupe TERA
Euronext Growth Paris: ALGTR · ~€13m
Pure-play air-quality sensing with near-€7m net cash after the OPRA buyback, against a tightening EU regulatory backdrop — a cash-rich micro-cap in a regulatory growth market.
FOM Technologies
Copenhagen: FOM · ~DKK 36m
Cleantech capital-equipment niche leader with a Honeywell partnership, trading at 0.9x price-to-sales — a specialist equipment maker with a blue-chip industrial partner.
Sector: Industrials
Industrials (continued)
Nightingale Security
Private · drone security
Drone-in-a-Box robotic aerial security on three-year RaaS contracts, with a Fortune-25 oil & gas customer and the first FAA multi-UAV exemption.
Implenia
SIX: IMPN
Leading Swiss + DACH integrated RE + construction services group; 3 divisions (Buildings + Civil Engineering + Service Solutions); FY 2025 revenue CHF 3,475m / op income CHF 140.5m.
ABB
SIX: ABBN / Stockholm: ABB · SMI
FY 2025 record orders $36.8bn (+17%) / revenue $33.2bn (+9%) / EBITA 18.2% / EPS $2.59 (+21%); $2.0bn buyback through Jan 27, 2027; Robotics divestment to SoftBank Oct 2025.
Sector: Industrials
Industrials (continued)
Kongsberg Gruppen
Oslo: KOG
Norwegian defence, aerospace, maritime and digital industrial group — a defence-tailwind compounder with a backlog at record levels.
Hochtief
Xetra: HOT · MDAX
Major German + global construction and infrastructure group; majority-owned by ACS Spain; data-centre construction backlog driving recent re-rating.
Heidelberg Materials
Xetra: HEI · DAX
World's #2 cement company with global building-materials operations — a structural beneficiary of carbon-pricing and CCS in cement.
Sector: Industrials
Industrials (continued)
Titan Cement
Athex: TITC / Euronext Brussels: TITC
International cement and building-materials producer with operations in US, Greece, SE Europe and Egypt — Mediterranean cement + US infrastructure exposure.
STRABAG
Vienna: STR · ATX
Austrian-listed pan-European construction giant with ~€20bn revenue — diversified across road, rail, building and infrastructure across DACH and CEE.
Bertrandt
Xetra: BDT
German engineering services specialist for automotive OEMs and aerospace — a Tier-1 outsourced engineering provider through the EV transition.
Sector: Industrials
Industrials (continued)
Jenoptik
Xetra: JEN · MDAX
German optical and photonic technology group serving semiconductor, healthcare, and traffic-safety markets — diversified high-end photonics platform.
MTU Aero Engines
Xetra: MTX · DAX
Germany's leading aero-engine manufacturer with strong aftermarket franchise; partner on Pratt & Whitney GTF and military Eurofighter programmes.
GE Aerospace
NYSE: GE
Post-spin pure-play aerospace and defence-engine champion (LEAP, CF34, GE9X) — a multi-decade aftermarket compounder with sector-leading engine installed base.
Sector: Industrials
Industrials (continued)
International Airlines Group
LSE / BME: IAG
Parent of British Airways, Iberia, Aer Lingus and Vueling — diversified European flag-carrier group at a normalised cycle valuation.
Beijer Ref
Nasdaq Stockholm: BEIJ B
World #2 wholesale distributor of HVACR products — secular beneficiary of refrigerant transition and cooling demand growth.
PRF Technologies
Italian listed
Italian listed process-technology / industrial-automation small-cap operating in niche process engineering.
Sector: Industrials
Industrials (continued)
Wah Lee Industrial
TWSE: 1416
Taiwan-listed industrial-materials and specialty-chemicals distributor — diversified exposure to electronics, plastics, and chemicals supply chains.
Lion E-Mobility
Xetra: LMIA
German battery system manufacturer for industrial e-mobility applications — niche electromobility OEM supplier.
CAF
BME: CAF
Spanish manufacturer of rolling stock and rail signalling, plus integrated transport solutions — a structural rail-spending compounder.
Sector: Industrials
Industrials (continued)
Max21
Xetra: MA1
German listed industrial / holding company with diversified small-cap holdings — micro-cap conglomerate.
Odfjell
Oslo: ODF
Norwegian leader in global chemical-tanker shipping with ~70-vessel fleet — high-yield niche maritime franchise.
OXE Marine
Nasdaq First North: OXE
Swedish maker of high-power diesel outboard engines for commercial and defence marine applications — a unique heavy-fuel outboard franchise.
Sector: Industrials
Industrials (continued)
INCA Renewtech
Private · Canadian bio-composites
Converting waste hemp biomass into automotive and industrial materials, with Toyota, Winnebago and Gurit partnerships, ~$40m Series B and a $10m Alberta grant.


Sector: Real Estate
Real Estate
Terreno Realty
NYSE: TRNO · ~$7.0bn
Six coastal infill logistics markets at 96.3% occupancy with consistent rent mark-to-market gains — a best-in-class industrial REIT in the most supply-constrained US logistics markets.
Diös Fastigheter
Nasdaq Stockholm: DIOS · ~SEK 9bn
354 properties and a SEK 31bn portfolio across northern Sweden, with a record SEK 1,711m operating surplus and a CEO buying stock in the open market.
HIAG Immobilien
SIX: HIAG · ~$1.39bn
~CHF 2.0bn portfolio across 3 segments (Yielding + Development + Transaction); 91% in 4 core Swiss catchments; sharpened strategy Aug 2025; H2 2025 disposals CHF 83m.
Sector: Real Estate
Real Estate (continued)
Peach Property Group
SIX
Zurich-listed German residential RE; FY 2024 LTV 50.9%; Dec 2025 sold ~2,000 units in 25 cities (~38% of Non-Strategic Portfolio); March 2026 preliminary FY 2025 positive + convertible bond tender.
Strawberry Fields REIT
NYSE American: STRW
US triple-net lease REIT focused on skilled nursing and healthcare properties — defensive healthcare-real-estate yield play.
Grand City Properties
Xetra: GYC
Pan-European residential property investor with a focus on Germany and London — repositioning portfolio across affordable apartment housing.
Sector: Real Estate
Real Estate (continued)
NSI
Euronext Amsterdam: NSI
Dutch listed office REIT with a portfolio concentrated in Amsterdam, Rotterdam, Utrecht and The Hague — value play on Dutch office repricing.
SBB (Samhällsbyggnadsbolaget)
Nasdaq Stockholm: SBB B
Swedish social-infrastructure landlord owning community service properties and residential — restructuring opportunity at deep discount to NAV.
Azrieli Group
TASE: AZRG
Israel's leading shopping-mall and office REIT with growing data-centre exposure (Green Mountain in Norway) — a diversified IL property compounder.
Sector: Real Estate
Real Estate (continued)
Renta Corporación
BME: REN
Spanish real-estate trading, conversion and asset management group — opportunistic Spanish property cycle play.


Sector: TMT
TMT
Logitech International
SIX: LOGN / Nasdaq: LOGI
FY 2026 sales of $4.84bn (+6%) with non-GAAP EPS $5.78 (+19%), $1.04bn operating cash flow, $1.7bn year-end cash and $768m returned to shareholders.
Qualcomm
Nasdaq: QCOM
Design and licensing leader in mobile system-on-chip (Snapdragon) and the dominant 5G IP franchise, with accelerating IoT, automotive and PC diversification.
SCREEN Holdings
TSE: 7735 · ~$15.8bn
Wafer-cleaning leader whose FY 2026 operating profit of ¥122.5bn beat guidance, with a sector-leading 30% Q4 margin in semiconductor production equipment.
Sector: TMT
TMT (continued)
Trimble
Nasdaq: TRMB · ~$15–18bn
Connect & Scale strategy delivering record annualised recurring revenue of $2.43bn (+12% YoY) and record gross and operating margins in Q1 2026.
Nextdoor Holdings
NYSE: NXDR · ~$650m
Q1 revenue +14% with a $100m buyback and founder Nirav Tolia back as CEO driving the platform relaunch — a founder-led turnaround with meaningful capital return.
Made Tech Group
LSE AIM: MTEC · ~£60m
Debt-free digital and data specialist for the UK public sector; H1 revenue £27.8m with FY 2026 guidance upgraded to £55.1m revenue and £4.8m EBITDA.
Sector: TMT
TMT (continued)
Visionstate
TSXV: VIS
Pivoting to the MIRA compliance-subscription platform with Q2 revenue +27% YoY and Ontario's Bill 190 cleaning-records mandate as a regulatory tailwind.
Kambi Group
First North: KAMBI · SEK 4.0bn
Q1 EBITA +64% at ~8x forward EBITA, positioned against the Sportradar/Genius data duopoly — a B2B infrastructure play in regulated sports betting.
Super Group (SGHC)
NYSE: SGHC · ~$5bn
Parent of Betway and Spin; record Q1 2026 with revenue +18% and adjusted EBITDA +36%, with FY guidance reaffirmed above $2.55bn revenue.
Sector: TMT
TMT (continued)
Greenlite Ventures
OTC Pink: GRNL
Post-reorganisation sports-betting ecosystem combining proprietary AI algorithms, blockchain payments and a patented automated poker table — a multi-vertical technology play.
BluSky AI
OTC: BSAI · ~$100m
Former gold shell pivoted to modular AI data-centre development with an aggressive site-acquisition pipeline — riding the AI infrastructure wave from micro-cap.
Metareal
Private · spatial computing
Virtual-tour and spatial-computing platform play, positioned against the Matterport/CoStar acquisition precedent — institutional-grade exit benchmark for the sector.
Sector: TMT
TMT (continued)
Vobile Group
HKEX: 3738
Hong Kong-listed content-protection SaaS provider — IP monetisation and anti-piracy across major Hollywood studios and OTT platforms.
Ubiquiti
NYSE: UI
US-listed direct-to-pro-channel networking equipment vendor with industry-leading margins — founder-controlled enterprise networking compounder.
Telia Company
Nasdaq Stockholm: TELIA
Nordic + Baltic incumbent telecom carrier with sizable B2B and digital services exposure — diversified telecom yield play.
Sector: TMT
TMT (continued)
Team Internet
LSE: TIG
UK-listed digital marketing and domain registrar group; transitioning ad-tech mix toward content + subscription revenue.
Radware
Nasdaq: RDWR
Israeli cybersecurity vendor specialising in application security and DDoS protection — niche enterprise security play.
Ooma
NYSE: OOMA
US-listed smart-communications platform for residential VoIP, small business, and enterprise — high-retention SaaS communications.
Sector: TMT
TMT (continued)
Tipp24 (ZEAL Network)
Xetra: TIM
German online lottery and gaming platform (ZEAL Network) with growing market share in regulated online lottery.
SNP Schneider-Neureither
Xetra: SHF
German specialist software vendor for SAP data transformation and migration — niche enterprise-software pure play.
GFT Technologies
Xetra: GFT · SDAX
German IT services specialist for global financial services digitalisation, with strong delivery presence in Iberia and Brazil.
Sector: TMT
TMT (continued)
Expert.AI
Euronext Growth Milan: EXAI
Italian-listed enterprise natural-language AI software vendor with a 30-year heritage in symbolic + neural language understanding.
Circle Internet Group
NYSE: CRCL
US-listed issuer of the USDC dollar stablecoin and operator of the regulated digital-dollar infrastructure stack — fintech rails of tokenised dollars.
51Talk Online Education
NYSE: COE
Chinese ADR online education platform pivoted to non-China English-as-a-foreign-language tutoring — emerging-markets edtech turnaround.
Sector: TMT
TMT (continued)
YOC
Xetra: YOC
German adtech specialist with high-quality mobile and video advertising solutions for European premium publishers.
G5 Entertainment
Nasdaq Stockholm: G5EN
Swedish-listed mobile-games publisher specialising in casual hidden-object and free-to-play titles — Western-developed mobile gaming franchise.
Freenet
Xetra: FNTN
German mobile virtual network operator and digital lifestyle group with media-asset stakes — high-yield no-network telecom franchise.
Sector: TMT
TMT (continued)
Elliptic Laboratories
Oslo: ELABS
Norwegian AI-software company providing virtual sensors for smartphones, PCs and IoT devices — proprietary touchless sensing platform.
Dustin Group
Nasdaq Stockholm: DUST
Nordic IT reseller and managed-services provider focused on SMBs and public sector — a leading Nordic value-added IT distributor.
Hexatronic
Nasdaq Stockholm: HTRO
Swedish fibre-optic network solutions provider — sector-leading position in FTTH (fibre to the home) build-out across Europe, US and Asia.
About Lond Capital
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