contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      defaultInstrument {
        isin
        id
      }
      id
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    id
    name
    viewerIsFollowing
    defaultInstrument {
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


multitude-increases-its-stake-in-lea-bank

__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Roni Peuranheimo

Multitude is a digital bank that offers lending and online banking services to consumers, small and medium-sized businesses, and other fintechs overlooked by traditional banks. The company was founded in 2005 in Finland and currently operates in 17 countries. The company operates with three business units: Consumer Banking (Ferratum), SME Banking (CapitalBox) and Wholesale Banking (Multitude Bank).

Multitude

Multitude has increased its stake in Lea Bank to 20.9%, slightly exceeding its initial plan of acquiring 18.6% (9.9% last year plus a planned 8.7%). 

Multitude has increased its stake in Lea Bank to 20.9%, slightly exceeding its initial plan of acquiring 18.6% (9.9% last year plus a planned 8.7%). However, the news was largely expected and neutral in our view. We will make the minor estimate changes after the Q4 result at the latest. &#xa0;
<h2>The acquired stake was slightly bigger than we originally expected </h2>
Originally, Multitude acquired 9.9% and intended to buy another 8.7% stake (18.6 % in total), which was subject to the approval of the Swedish Financial Authority. Now, the company has received the required approvals and made five additional share purchase agreements. The acquired stake eventually rose to 20.9% in total. 
<h2>Strategic partnership and financial investment</h2>
The minority investment is part of Multitude&#x2019;s M&amp;A strategy, where one pillar is to look for targets where the company can enter new business areas and partnerships. The investment in Lea Bank is significant for Multitude since we estimate the total investment in Lea Bank will be in the range of 15-20 MEUR (depending on the share price of the separate batches). 
With the minority stake, Multitude gains more exposure to higher quality loan assets (Prime Loans), where Lea Bank is relatively stronger than Multitude. With the deal, Multitude aims to create opportunities for strategic cooperation and synergies in the future. We believe concrete plans regarding these are not yet clear and we expect to hear more about them in the future. In addition to the complementary products and potential strategic cooperation, Multitude sees Lea Bank as a financial investment. The company sees that Lea Bank&#x2019;s stock forms &quot;attractive returns in terms of dividend yield and income from the associated company&quot;.

	2023	24e	25e
Operating income	204.0	215.3	229.0
growth-%	4.6 %	5.5 %	6.4 %
EBIT (adj.)	19.0	20.1	26.6
EBIT-% (adj.)	9.3 %	9.3 %	11.6 %
EPS (adj.)	0.51	0.53	0.83
Dividend	0.19	0.20	0.27
Dividend %	4.3 %	3.3 %	4.3 %
P/E (adj.)	8.7	11.5	7.4
EV/EBITDA	-	-	1.7

Multitude increases its stake in Lea Bank

The acquired stake was slightly bigger than we originally expected

Strategic partnership and financial investment

Multitude

Key Estimate Figures2024-12-20