| Valuation method | Value, £ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | n/a | n/a |
| Intrinsic value (DCF) | n/a | |
| Graham-Dodd Method | n/a | |
| Graham Formula | 0.10 | -100 |
Nordic Waterproofing Holding AB (publ) is a leading provider of waterproofing solutions for buildings and infrastructure across Northern and Central Europe. Headquartered in Helsingborg, Sweden, the company operates through two key segments: Products & Solutions and Installation Services. With a history dating back to 1889, Nordic Waterproofing offers a comprehensive portfolio including roofing products, building membranes, EPDM waterproofing solutions, prefabricated construction elements, and green roofing materials. The company serves a diverse clientele including installers, contractors, builders' merchants, and private customers through well-established brands like Mataki, Trebolit, and Kerabit. Operating in nine European countries, Nordic Waterproofing combines product innovation with installation expertise to address critical construction needs in waterproofing and moisture protection. As sustainability becomes increasingly important in construction, the company's offerings in green roofing and energy-efficient building solutions position it well in the evolving construction materials sector.
Nordic Waterproofing presents a stable investment opportunity in the construction materials sector, with consistent revenue streams from its diversified product portfolio and service offerings. The company's pan-European presence provides geographic diversification, while its focus on waterproofing - a critical building component - offers resilience against construction cyclicality. With a market cap of approximately SEK 4.38 billion and a dividend yield supported by SEK 5 per share payout, the company may appeal to income-focused investors. However, investors should note the relatively low net margin (4.2% in last reporting period) and exposure to construction industry fluctuations. The zero-debt balance sheet is a positive factor, providing financial flexibility. The beta of 0.851 suggests lower volatility than the broader market, potentially making it suitable for conservative portfolios.
Nordic Waterproofing competes in the specialized waterproofing segment of construction materials, differentiating itself through a combination of product breadth and installation services. The company's competitive advantage stems from its strong regional brands across Northern Europe, technical expertise in waterproofing solutions, and vertically integrated service model. Unlike many competitors focused solely on product manufacturing, Nordic's installation services create additional revenue streams and customer stickiness. The company's multi-brand strategy allows it to maintain strong local market positions while benefiting from group-wide R&D and purchasing synergies. However, the waterproofing market remains fragmented with competition from both large multinational building materials companies and local specialists. Nordic's focus on Northern Europe provides depth in these markets but limits exposure to faster-growing regions. The company's sustainability-focused products like green roofing solutions help differentiate its offering in an increasingly environmentally conscious construction market. Maintaining technical leadership while expanding service capabilities will be key to defending its market position against larger competitors with greater resources.