# Creades

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/creadesa).

## Overview

Creades AB is a Swedish investment company based in Stockholm that owns and manages a portfolio of listed and unlisted holdings. It acts as a long-term engaged owner, mainly in smaller and mid-sized Nordic companies, and also actively manages selected listed investments.

## Products & services

• Long-term ownership in listed and unlisted companies
• Active portfolio management of listed holdings
• Capital appreciation through value creation
• Investment income from portfolio companies
• Engaged ownership and board-level influence

- **Private and public equity investments** (70%) — Direct investments in smaller and mid-sized listed and unlisted companies.
- **Listed portfolio management** (20%) — Active management of quoted holdings with long-term upside potential.
- **Investment income and exits** (10%) — Returns from dividends, distributions, and realized gains on investments.

- Long-term ownership in listed and unlisted companies
- Active portfolio management of listed holdings
- Capital appreciation through value creation
- Investment income from portfolio companies
- Engaged ownership and board-level influence

## Customers

Creades does not sell products to end consumers; its capital is deployed into portfolio companies and its economic return comes from those investments. Its counterparties are founders, owners, management teams, boards, and other shareholders in Nordic companies where it can take an active ownership role. The company also serves Creades' own shareholders by seeking risk-adjusted returns through capital growth and investment income.

- **Private company owners and founders** (primary) — They sell minority or majority stakes to Creades for capital and an active long-term owner
- **Listed company shareholders** (primary) — They partner with Creades in quoted holdings where it seeks long-term revaluation
- **Management teams and boards** (secondary) — They work with Creades on growth, efficiency, and strategic development
- **Creades public shareholders** (primary) — They buy Creades shares to gain exposure to the investment portfolio

- Founders and owners seeking a long-term capital partner
- Management teams needing an engaged, supportive shareholder
- Boards and stakeholders in value-creation situations
- Public-market investors in Creades shares
- Portfolio companies across Nordic small and mid-cap markets

## Geography

Creades is headquartered in Stockholm and its investment focus is primarily Sweden and the wider Nordic region. The portfolio can also include listed holdings with broader geographic exposure, but the core mandate remains Nordic and especially Swedish companies.

- **Sweden** (70%) — Primary investment focus and home market
- **Nordics** (30%) — Broader Nordic investment exposure

- Headquartered in Stockholm, Sweden
- Primary focus on Swedish and Nordic companies
- Invests in both listed and unlisted Nordic holdings
- Portfolio companies may have broader international sales
- Geography matters because returns depend on Nordic market access

## Strategy

Creades seeks opportunistic investments where it can act as an engaged owner and help build long-term value. Its strategy combines ownership influence, active portfolio management, and a preference for businesses with predictable customer behavior and room for revaluation.

- **Active ownership in portfolio companies** (medium-term) — Influence can improve strategy, operations, and capital allocation
- **Nordic small and mid-cap focus** (long-term) — The mandate targets companies where engaged ownership can matter most
- **Value creation through revaluation and growth** (medium-term) — Returns depend on both multiple expansion and business improvement

- Invest opportunistically within broad but disciplined criteria
- Focus on smaller and mid-sized Nordic companies
- Use active ownership to improve growth and efficiency
- Seek both revaluation and underlying value creation
- Maintain flexibility through listed and unlisted investments

## Risks

Creades is exposed to market risk because the value of its portfolio can move with equity prices and valuation multiples. As an investment company, it also depends on the performance of a concentrated set of holdings, so company-specific setbacks in portfolio businesses can materially affect results.

- **Market risk in portfolio valuations** [high] — Equity and private-market values fluctuate with market sentiment and fundamentals
- **Concentration risk** [high] — A few large holdings can dominate net asset value and returns
- **Valuation and liquidity risk in unlisted assets** [medium] — Fair values rely on estimates and exits may take time
- **Currency risk** [medium] — Underlying portfolio companies may have foreign-currency exposure

- Portfolio value can fall with equity market declines
- Concentration in a limited number of holdings increases idiosyncratic risk
- Unlisted investments are harder to value and exit
- Currency moves can affect portfolio companies indirectly
- Interest-rate changes can alter valuation multiples

## Accounting

Creades accounts for its portfolio companies at fair value under IFRS 9 rather than consolidating them, which makes valuation judgments central to reported results. Changes in market prices, comparable multiples, and exit assumptions can therefore move earnings and net asset value even when cash has not changed.

- **Fair value measurement of portfolio investments** — Can create large unrealized gains or losses
- **IFRS 10 investment company exemption** — Results reflect investment returns rather than line-by-line operating revenue
- **IFRS 9 financial instruments** — Valuation assumptions can materially affect NAV and profit

- Fair value measurement drives reported investment gains and losses
- IFRS 9 valuation judgments affect unlisted holdings
- No consolidation of controlled portfolio companies under investment-company rules
- Net asset value is sensitive to market multiples and exit assumptions
- Investment income and realized gains can be uneven across periods

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*Last updated: 2026-08-11T04:04:51.718900+00:00*