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aXichem: A new spice in milk production
Report comment Q4 2025
|2026-03-25
- Pending the EFSA decision, the establishment of aXiphen in Brazil continues
- The positive trend for aXivite continues
- After adjustments, our fair value amounts to SEK 3.07 (4.26) per share
We have now updated our model of aXichem after the completed share issue and based on the year-end report for 2025. Our positive view of the company's growth opportunities going forward remains, even though we have now adjusted our forecasts downwards. The product registration for dairy cows obtained in March opens up new opportunities in the country. However, we do not include this potential in our model until a concrete agreement has been presented. We believe that aXivite will account for the largest share of sales in 2026, but we predict a shift in the coming year. Our forecast also includes margin improvements for aXiphen as volumes pick up. Our model now arrives at a fair value of SEK 3.07 (4.26) per share.
Read our research update. The research update is available in Swedish
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Tobias Karlsson
Analyst
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Martin Dominique
Chief Analyst