2D·

Intellego

$INT (+11,08 %) Technologies has announced that the company has significantly significantly exceeded its financial targets for 2025 and therefore new, significantly increased targets for the coming years, accompanied by a change in management change in management.

The most important points are

1. Profit targets exceeded: The company has already achieved the full-year 2025 EBIT target of SEK 400 million (Swedish kronor) ahead of schedule and exceeded it.

2. Strongly increased financial targets (2026-2028): Based on strong performance, Intellego has set new, aggressive targets forecasting significant growth.

3. Management change:
Henrik Resmark was appointed Chief Operating Officer (COO) in addition to the role of Chief Financial Officer (CFO) which represents a strengthening of the company's management.

Apparently the shareholders are not taking this change of course so well and a sell-off is taking place.

47 Comentarios

Wiktor_06@Wiktor_06

And why this -40% slump in the share price.

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Nemesis1990@Nemesis1990

@Wiktor_06 Apparently it is the credibility of the reported figures

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Wiktor_06@Wiktor_06

@Nemesis1990 So, thank you

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Keineui@Keineui

@Wiktor_06 Aggressive accounting. Invoices already included in the figures that still have to be paid

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Nemesis1990@Nemesis1990

Now, of course, there is a dilemma: add more and hope that everything is right 😅or wait and see

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TradingHase@TradingHase

I am not increasing my shares and will wait and see.

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Der P.@Panda0404

Wow thought I had eye problems today 😑 a breakout in the other direction would have been nicer. 😑

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Homer@Simpson

@Nemesis1990 Hope is a bad long-term strategy on the stock market

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jkb92@jkb92

I haven't looked into it in detail, but isn't it normal to book receivables even if they haven't been paid yet?

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TradingHase@TradingHase

@jkb92 It is not prohibited if the invoice has been issued.

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Paddy_cng@Paddy_cng

@jkb92 I am an entrepreneur. A written invoice flows immediately into the general ledger and is offset as an open item. Of course, I am not allowed to post an order.

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Paddy_cng@Paddy_cng

Here is a short research and summary: Criticism of Intellego

Aggressive revenue recognition

A large part of the reported turnover comes from invoices that have not yet been paid.

According to critics, up to 83% of quarterly sales are receivables that are not expected to be paid for another two years.

This makes growth appear larger than it actually is in terms of cash.

Dependence on the export credit system (EKN)

Receivables were hedged via the Export Credit Agency (EKN) and resold in order to obtain short-term liquidity.

This artificially supports cash flow and cannot be repeated indefinitely.

Weak cash flow basis

The operating business generates little real free cash flow.

The company has to pre-finance running costs until customers pay.

This harbors liquidity risks.

Management and governance concerns

Rapid change of CFO shortly after taking office creates additional uncertainty.

According to critics, communication on financing measures appears inconsistent
(e.g. first announcement of share buyback → then directed capital increase instead).

Loss of confidence among investors

Several analysts and fund managers publicly express doubts.

Perception: lack of transparency and too much balance sheet cosmetics.

Key message

The company is growing strongly on the balance sheet, but the growth is essentially credit and receivables-driven, not liquidity-based.
The market is therefore not reacting to turnover and EBIT, but to mistrust in the quality of earnings.

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HHH@capital_genius_2173

Small update:

https://intellego-technologies.com/mfn_news/intellego-informs-on-synthetic-share-buyback-program-and-updates-on-finances/

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Nemesis1990@Nemesis1990

@Multibagger what do you say

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Chris@Multibagger

@Nemesis1990 First of all, a little chill pill. Let's see what happens next.

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j0keR61@j0keR61

Nicely repurchased 🙂

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Dividendenopi👴@Dividendenopi

In retrospect, I am glad that my SL took hold a few weeks ago at EUR 8, despite the painful loss at the time. The accusations were already in the air and were controversially discussed and short sellers were blamed for the crash without any fundamental counteraction. This prevented me from taking another gamble after the last setback before the crash. Hopefully for all those still invested it will turn out halfway positive ... 😇☝️

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Nemesis1990@Nemesis1990

Good question, maybe once through profit taking, the other reasons I am still researching

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Alpalaka@Alpalaka

@Nemesis1990 Profit taking is not -50% :)

Rather, the problem is how they present their revenues: https://efn.se/intellegos-aktie-kraschar-anklagas-for-aggressiv-bokforing

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Nemesis1990@Nemesis1990

@Alpalaka I had already mentioned under another comment

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Pascal@Pacco93

I really hope that nobody is invested here 😕

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Nemesis1990@Nemesis1990

@Pacco93 doch 🫡

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Iguessso@Iguessso

@Nemesis1990 doch

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RenaTess@RenaTess

Here🫡🙄, long-term, without Stop🤦🏼‍♀️

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TradingHase@TradingHase

@Pacco93 Why not? It's not the quick mark.

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Chris@Multibagger

@Pacco93 I went straight back in today. That's crazy. They have an invoice booked as revenue where the payments are spread over 2 years. If they were an AI company and Nvidia was supplying chips for the next few years, the share price would probably be up 50%, even though no money is flowing in.

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Nemesis1990@Nemesis1990

@Multibagger I also went shopping again straight away. 🫡👍

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jkb92@jkb92

@Multibagger To me, this also sounds a lot like a short-seller-framed narrative...

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jkb92@jkb92

@Multibagger How many shares did you buy?

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