• Well-positioned within advanced cybersecurity
• Financial resilience and profitable growth expected
• We initiate coverage with a fair value of SEK 18 per share

Rising geopolitical tension and an increasingly hostile digital environment have pushed security and resilience to the top of the agenda. The demand for high-level cybersecurity is increasing fast in the defence industry and other sectors. Malmö-based Advenica, founded in 1993, is an established and trusted player in this field. The market has begun to take notice, with the share price up 62 per cent in 2025. Growing faster than the broader cybersecurity market, we believe Advenica is well-positioned for continued outperformance.

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