Eniro Group AB (publ) ENRO

Stockholm | Technology | Digital marketing and SaaS
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Updated: 23 Sep 2026 Base analysis: 19 Jul 2026

The news check keeps the assessment current.

General analysis — not personal advice.

HOLD Partly clear

Await Q2 report on 24 July 2026 before considering increase

Continued buybacks and the streamlining toward digital marketing after the Dynava divestment support the existing hold signal.

Market sentiment Positive ↑
Trend: Improving

Sentiment is supported by the ongoing buybacks that signal management’s confidence in value.

Risk assessment Medium
Dilution: Low Strong cash and positive operating cash flow
Jurisdiction: Low Operations in stable Nordic countries
Execution: Medium M&A integration requires careful execution
Cash flow: 36 mo

HOLD is the call. Positive is the market mood. Medium risk means some things can go wrong.

Latest change
  • 25 Jul 2026 — Earnings improvement driven by completed Aste acquisition and cost control that sharply lifted net income.

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About the company

Eniro Group AB is a Nordic MarTech company providing digital marketing services and local search solutions to small and medium-sized enterprises. Operations include directory services, SEO/SEM and Voice services via subsidiary Dynava. The company recently completed a reverse split and a Finnish acquisition under new majority ownership.

Sector: Digital marketing and SaaS
Type: Tech
Next report (Q3)
5 Nov 2026
Catalysts
●
5 Nov 2026
Q3 report Medium
●
31 Mar 2027
Buyback program High
Bull case

The divestment frees capital and management focus for growth in higher-margin digital marketing.

Bear case

The company must now demonstrate organic growth in the streamlined core business without contribution from the Voice segment.

Why this signal

Continued buybacks and the streamlining toward digital marketing after the Dynava divestment support the existing hold signal.

Recent news
  • Eniro has continued its buyback program and repurchased an additional 47,709 own shares during 7–18 September 2026 at average prices around 29–30 SEK. Total treasury shares now stand at 433,531, corresponding to 2.905 % of the share capital.

Key figures

Revenue
Q2 2026
SEK 247M
Revenue TTM
TTM
SEK 956M
EBITDA
Q2 2026
SEK 38.0M
Net income
Q2 2026
SEK 8.0M
Shares outstanding
Q2 2026
RAW 14.9M
EPS
Q2 2026
SEK 0.54
Exchange
Stockholm
Type
Technology
Sector
Digital marketing and SaaS
Eniro Group AB (publ) ENRO
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