Vimian Group AB (publ) VIMIAN

Stockholm | Animal health (veterinary pharma, diagnostics and medtech)
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Updated: 18 Sep 2026 Base analysis: 6 Apr 2026

The news check keeps the assessment current.

General analysis — not personal advice.

HOLD Clear

Hold; consider adding 10-20% after Q1 confirmation.

Core animal health operations and cash flow development look robust, while the MedTech turnaround and management stability still require confirmation.

Market sentiment Positive →
Trend: Stable

Sentiment has improved to weakly positive after the Q2 beat and clearer management announcements, but the market remains watchful on execution (especially MedTech/USA) and acquisition integration risk.

Risk assessment Medium
Dilution: Low Positive cash flow; LTIP dilution appears limited
Jurisdiction: Low Mainly Sweden, North America, Western Europe
Execution: High Management turnover and US MedTech turnaround

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

Latest change
  • 18 Aug 2026 — The July 17 report showed double-digit growth and MedTech margin gains, driven by organic expansion and LTIP exercises.

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About the company

Vimian Group AB (publ) is a global animal health group operating across Specialty Pharma, MedTech, Diagnostics, and Veterinary Services. The company grows through organic initiatives and acquisitions, but near-term uncertainty is elevated due to MedTech weakness and ongoing management changes.

Sector: Animal health (veterinary pharma, diagnostics and medtech)
Type: Other
Next report (Q3)
22 Oct 2026
Catalysts
●
22 Oct 2026
Q3 2026 report High
◦
Date TBA
M&A and integration (bolt-ons)
◦
Date TBA
Working capital and leverage
Bull case

Continued double-digit organic growth and stable EBITA margin, with clear improvement in MedTech, can support a higher valuation if cash flow normalizes.

Bear case

Weak cash flow conversion and rising working capital combined with higher net debt may increase focus on the balance sheet and limit upside despite good earnings growth.

Why this signal

Core animal health operations and cash flow development look robust, while the MedTech turnaround and management stability still require confirmation.

Recent news
  • Major shareholder Fidelio Capital has bought shares worth over 300 MSEK. Handelsbanken has named Vimian a sector favorite. New heads of M&A and Specialty Pharma take office in October. The Q3 report is published on 22 October.

Key figures

Revenue
Q2 2026
EUR 122M
EBITDA
Q2 2026
EUR 29.7M
Net income
Q2 2026
EUR 8.8M
Cash
Q2 2026
EUR 3.8M
Shares outstanding
July 2026
RAW 533M
EPS
Q2 2026
EUR 0.02
Exchange
Stockholm
Sector
Animal health (veterinary pharma, diagnostics and medtech)
Vimian Group AB (publ) VIMIAN
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