Added to YB: 2025-06-16
Pitch date: 2025-06-13
INT.ST [bearish]
Intellego Technologies AB
+44.25%
current return
Author Info
Shitty situations is an emerging manager. Investor in distressed and unconventional (together, 'Shitty') situations. Strong preference for process-driven risk. Sign up for the newsletter.
Company Info
Intellego Technologies AB manufactures and sells ultraviolet indicators in Sweden, the United Kingdom, the United States, Europe, China, and internationally.
Market Cap
SEK 1.6B
Pitch Price
SEK 83.50
Price Target
N/A
Dividend
N/A
EV/EBITDA
2.87
P/E
4.69
EV/Sales
1.87
Sector
Electronic Equipment, Instruments and Components
Category
N/A
Intellego Technologies AB (INTELL B): The Anatomy of a Compelling Short - Unmasking Financial Fragility and Deceptive Practices
INT.ST short: Massive accounting issues - 104% surge in AR to 188M SEK, questionable CapEx classification, IFRS violations. Multiple Nasdaq sanctions for MAR breaches (~2.2M SEK fine). Dubious acquisition accounting, misleading disclosures, governance failures. Unsustainable receivables financed by Nordea/EKN credit. High risk of write-offs, restatements, auditor issues.
Read full article (18 min)