I started researching this thread again after reading Joni’s review of the Nordic IT sector. 
The difficult market situation throughout 2025 is reflected in the fact that in the Nordic countries, only a couple of listed IT service sector companies achieved excellent performance measured by the 20-rule. The best performance in the sector was achieved by the consistent performer Netcompany (21%), which is an excellent performance in our long-term outlook.
Since the beginning of the thread, the share price has risen nicely:
On March 26, the following announcement was released:
Company announcement – inside information
No. 20/202626 March 2026
Netcompany raises full-year margin guidance for 2026
Netcompany’s continued focus on delivery excellence and implementation, supported by the ongoing embedding of AI capabilities into our methodology has led to increased expectation for adjusted EBITDA margin for the full-year 2026.
“As a leading European provider of complex IT solutions in regulated environments across public and private sectors, we constantly strive to become better at what we do.
The continuous investment over recent years in AI-embedded platforms and products and responsible AI executable methodology has positioned Netcompany as a European leader in delivering and/or renovating highly complex high-quality systems on time and within budget with reduced risk.
We are closely monitoring progress in these areas and finalising the first quarter of 2026 with a promising outlook. Based on current initiatives we see significant potential for accelerated and ongoing improvements as further initiatives are introduced throughout the Group.”
André Rogaczewski,
Netcompany CEO and Co-founderFor the full-year 2026, Netcompany now expects an adjusted EBITDA margin excluding Netcompany Banking Services (NBS) between 17% and 20% (previously between 16% and 19%). This implies an adjusted EBITDA margin including NBS between approximately 16% and 19% (previously between 15% and 18%).
Then here’s a little Q4 report (after which the positive announcement above came out)
Full Q4 report
https://ml-eu.globenewswire.com/Resource/Download/2dc653b6-1ef2-487b-ab10-f62e4dab23b3
I’m trying to activate discussion with these “highlights” and so on.
From the analyses and articles I’ve read, Netcompany seems quite impressive and uniquely distinguished, for example, it has strong expertise especially in public sector digital transformation, and apparently its own products and platforms support this well.
The company gives the impression of being agile, even though it’s not a small firm, and at the same time it has the resources of a large stable company, which seems to be in a good position to benefit from new trends in the industry, if I can trust the texts I’ve read.
It’s almost half a year since Frans’s message below, and the share price has fluctuated (a lot), but it mentions valuations. It’s a highly valued company for a reason, but I don’t know if it’s already too expensive after the most recent surges.