In this Research Note, we explore the smart lighting controls business of Plejd AB, a Swedish public company supplying the Nordic market. We explore their 2023 financial results, product portfolio, channel approach and international growth strategy, based on their year-end results, 8th February 2024, and their latest Annual Report. Founded in 2009 and headquartered in Mölndal, Sweden, Plejd AB is a publicly traded company on Spotlight Select. The company has deployed over 1 million smart lighting systems, over 5 million installed devices, and has over 50,000 installers. 2023 Plejd Financial Highlights Net sales amounted to TSEK 513,387 (approx. $47.7 million), which amounts to a growth of 19.2 % compared to the same period last year. The operating profit amounted to TSEK 59,520. Operating profit is lower than in the same period last year due to lower gross margin on new products and higher cost mass due to launches and international investments. Operating margin was 11.6% […]