Added to YB: 2026-05-14
Pitch date: 2026-05-12
HAYPP.ST [neutral]
Haypp Group AB (publ)
Author Info
No bio for this author
Company Info
Haypp Group AB (publ) operates as an online retailer of tobacco-free nicotine pouches and snus products in Sweden, Norway, the rest of Europe, and the United States.
Market Cap
SEK 4.0B
Pitch Price
N/A
Price Target
405.00 (+190%)
Dividend
N/A
EV/EBITDA
25.24
P/E
234.93
EV/Sales
1.00
Sector
Specialty Retail
Category
growth
Haypp Group: Deep Dive 2026
HAYPP.ST (deep dive): E-commerce leader in nicotine pouches across Sweden, Norway, DACH, UK & US at ~19% gross margin + ~10% high-margin Media & Insights data biz. Q1 rev 1,104MSEK, nowcast model accurate within 1%. 2028 targets imply ~8,000MSEK rev, 5.5% EBIT margin → 3x upside at 15-20x multiple. US/UK drive value; online penetration 3% (US) vs 36% (Sweden). ZYN supply normalized, FDA de-risked category (PMTA approvals, May 2026 enforcement guidance). Risks: littering backlash, EU bans (France/Austria out), supplier concentration. Catalysts: First North uplisting, US listing 2028-29, sector re-rating. CEO O'Dowd top-10 holder, net buyer. Trades 1x sales; 30% IRR potential 3-4yr on mgt targets + M&I scaling.
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