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Loihde’s Q3 beat our estimates, offset by expectations of a slower Q4. Growth in the main business areas continues to be favourable, while recovery in IT consulting is still awaited, and we see continued margin improvement potential.
Loihde reported better than anticipated Q3 results, with sales growing 5% y/y to EUR 31.5m (Evli: 30.6m) and adj. EBITDA amounting to EUR 2.9m (Evli: 2.3m). Growth expectations for the remainder of the year are rather cautious given the market situation and front-loaded revenue from security solutions.
Loihde reports its Q3 business report on October 30th. We expect healthy profitability levels and slight growth in the near-term and Loihde in our view remains well positioned to tackle near-term market uncertainties. Following a share price decline since our previous update we upgrade our rating to BUY (HOLD), TP of EUR 12.2 and estimates intact.
Loihde’s Q2 was better than estimated, profitability in particular, with adj. EBITDA up EUR 1.6m y/y to EUR 2.6m (Evli EUR 1.9m). We continue to expect favourable growth and profitability development going forward.
Loihde’s Q2 was better than anticipated. Net sales grew a modest 3% to EUR 35.4m (Evli EUR 34.9m), and with operative costs slightly down from previous year levels the adj. EBITDA as a result improved to EUR 2.6m (Evli EUR 1.9m, Q2/23: EUR 1.0m).
Loihde reports its H1 results on August 27th. We expect slight net sales growth and a clear y/y profitability improvement. Of key interest in our view is the growth pace and potential remarks on recent or anticipated changes in the demand situation.
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Loihde Plc: SHARE REPURCHASE 23.1.2025
Helsinki Stock Exchange
Trade date: 23.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 227 shares
Average price / share: 11,0352 EUR
Total cost: 2 505,00 EUR
Following shares repurchased on 23.1.2025
the Group now holds 44 983 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of CommunicationsTiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 22.1.2025
Helsinki Stock Exchange
Trade date: 22.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 338 shares
Average price / share: 11.0148 EUR
Total cost: 3 723.00 EUR
Following shares repurchased on 22.1.2025
the Group now holds 44 756 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of CommunicationsTiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 21.1.2025
Helsinki Stock Exchange
Trade date: 21.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 279 shares
Average price / share: 11,1731 EUR
Total cost: 3 117,30 EUR
Following shares repurchased on 21.1.2025
the Group now holds 44 418 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of CommunicationsTiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 20.1.2025
Helsinki Stock Exchange
Trade date: 20.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 378 shares
Average price / share: 11,2992 EUR
Total cost: 4 271,10 EUR
Following shares repurchased on 20.1.2025
the Group now holds 44 139 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 17.1.2025
Helsinki Stock Exchange
Trade date: 17.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 320 shares
Average price / share: 11,1886 EUR
Total cost: 3 580,35 EUR
Following shares repurchased on 17.1.2025
the Group now holds 43 761 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 16.1.2025
Helsinki Stock Exchange
Trade date: 16.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 703 shares
Average price / share: 11,2155 EUR
Total cost: 7 884,50 EUR
Following shares repurchased on 16.1.2025
the Group now holds 43 441 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 15.1.2025
Helsinki Stock Exchange
Trade date: 15.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 720 shares
Average price / share: 11,6253 EUR
Total cost: 8 370,20 EUR
Following shares repurchased on 15.1.2025
the Group now holds 42 738 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc Company announcement, inside information 15 January 2025 at 2 p.m. EET
Inside information: Loihde initiates change negotiations to improve the company’s competitiveness and the efficiency of its support functions
Loihde Plc initiates change negotiations aiming at enhancing the company’s business competitiveness and profitability and improved operational efficiency.
The change negotiations cover Loihde Group support functions, part of sales and managerial positions in all business units, and part of consultant positions in the business units Data & AI and Digital Services. The change negotiations also include reorganization, such as plans to merge the business units Data & AI and Digital Services. Persons who are primarily engaged in customer work in the business units Security Solutions and Cyber, Cloud and Connect are not included in the change negotiations.
The company estimates that the change negotiations will lead to a maximum of 45 redundancies in the whole Group and a maximum of 40 layoffs in the business units Data & AI and Digital Services. In addition, plans may include changes to the terms and conditions of employment concerning the roles that are in the scope of the change negotiations. The change negotiations are projected to result in savings of approximately 1-2 million euros by 2025.
“Loihde has been built through several acquisitions, and we are now finalising the related synergy benefits in line with the company's strategy and implementing smoother and more cost-effective business processes. We are also restructuring the company to better meet the needs and growth opportunities of the business units”, says Loihde’s CEO Samu Konttinen.
Loihde is committed to communicating openly with its employees throughout the negotiation process and will report the outcome once the negotiations are concluded.
Loihde will publish its guidance for 2025 in the Financial Statements Release 2024 on 13 February 2025. The change negotiations do not affect the company’s mid-term financial targets.
Further information
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 133 million. loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 14.1.2025
Helsinki Stock Exchange
Trade date: 14.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 561 shares
Average price / share: 11,3120 EUR
Total cost: 6 346,05 EUR
Following shares repurchased on 14.1.2025
the Group now holds 42 018 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc Company announcement 14 January 2025 at 9:30 a.m. EET
Proposals by Loihde Plc’s Shareholders’ Nomination Board to the 2025 Annual General Meeting
The Shareholders’ Nomination Board of Loihde Plc presents the following proposals to the Annual General Meeting (AGM) that is planned to be held on 8 May 2025. The proposals will be a part of the notice of the AGM, which will be published later.
1. Number of members and composition of the Board of Directors
The Shareholders’ Nomination Board proposes that seven members shall be elected to the Board of Directors (six members in 2024).
The Shareholders’ Nomination Board proposes that the following current members of the Board of Directors shall be re-elected: Marko Kauppi, Juha Murtopuro, Jari Niska, Anni Ronkainen, Matti Vikkula, and Christian Wetterstrand and that Tuulia Holkkola shall be elected as a new member.
All the proposed members of the Board of Directors are independent of the company and its major shareholders, and they have given their consent to the position.
In addition, the Shareholders’ Nomination Board proposes to the AGM that Marko Kauppi shall be re-elected Chair of the Board of Directors and Jari Niska Vice-Chair of the Board.
Tuulia Holkkola, who is proposed to become a new member of the Board of Directors, works as Operations Director at Vaski Group Oy. She is born in 1986 and her education is engineer.
Holkkola’s primary work experience:
Chief Operating Officer, Junkkari Oy, 2023-2024
Production manager, Junkkari Oy, 2017-2023
Department Engineer, MSK Cabins Oy, 2014-2017
Holkkola's primary positions of trust:
Member of the Board of Directors, VTmaalaus Oy, 2024-
Member of the Board of Directors, Sedu Education Oy, 2023 -
Member of the Board of Directors, Hallituspartnerit Pohjanmaa, 2023 -
Member of the Board of Directors, Etelä-Pohjanmaan Kauppakamari, 2022 -
Chair of the executive committee, Virian Pienosakkaat Ry/Virias Småägare Rf, 2022 -
2. Remuneration of the Board of Directors
The Shareholders’ Nomination Board proposes that the following annual fees for the members of the Board of Directors will stay unchanged:
- Chair of the Board of Directors: EUR 55,000 per year
- Vice-Chair of the Board: EUR 40,000 per year
- Member of the Board: EUR 27,500 per year
- Chair of a committee: EUR 7,000 per year
- Member of a committee: EUR 3,500 per year
The travel expenses of the members of the Board of Directors shall according to the proposal be reimbursed in accordance with the company’s travel rules.
Composition of the Nomination Board
In September 2024, Jussi Hattula, Tuulia Holkkola, Matti Kulmakorpi, Vesa Puttonen and Petri Tuutti were appointed to Loihde’s Shareholders' Nomination Board. In addition, the Chair of the company’s Board of Directors Marko Kauppi acts as an expert member of the Nomination Board without right to participate in the decision-making. Vesa Puttonen chairs the Nomination Board.
Further information
Vesa Puttonen, Chair of the Shareholders' Nomination Board, tel. +358 40 709 0284
Director of Communications Tiina Nieminen, tel. +358 44 411 3480, tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to gain a sustainable competitive edge through data, AI and digitalisation, to harness the potential of the cloud and to protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are approximately 850 skilled professionals, and our revenue in 2023 amounted to EUR 133 million. loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 13.1.2025
Helsinki Stock Exchange
Trade date: 13.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 112 shares
Average price / share: 11,2500 EUR
Total cost: 1 260,00 EUR
Following shares repurchased on 13.1.2025
the Group now holds 41 457 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 10.1.2025
Helsinki Stock Exchange
Trade date: 10.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 866 shares
Average price / share: 11,2758 EUR
Total cost: 9 764,80 EUR
Following shares repurchased on 10.1.2025
the Group now holds 41 345 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc Managers’ Transactions 13-1-2025 at 8:20 a.m. EET
Loihde Plc: Managers’ Transactions – Mäki
Loihde Plc has received the following notification:
Loihde Oyj - Managers' Transactions
____________________________________________
Person subject to the notification requirement
Name: Jarno Mäki
Position: Other senior manager
Issuer: Loihde Oyj
LEI: 7437009IZO2SU9TPO664
Notification type: INITIAL NOTIFICATION
Reference number: 91805/5/6
____________________________________________
Transaction date: 2025-01-09
Outside a trading venue
Instrument type: SHARE
ISIN: FI4000014238
Nature of transaction: OTHER
Description of the transaction type: Osana Roaring Aspen Hill Oy:n selvitystilamenettelyä Roaring Aspen Hill Oy:n omistamat 50.000 kpl Loihde Oyj:n osaketta on jaettu henkilöomistajille ennakkojako-osuuksina.
Transaction details
(1): Volume: 15965 Unit price: 11.2 EUR
Aggregated transactions (1):
Volume: 15965 Volume weighted average price: 11.2 EUR
Further information
Director of Communications Tiina Nieminen, tel. +358 44 411 3480 or tiina.nieminen@loihde.com
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Loihde enables business continuity. We help our customers to create growth and competitiveness through digitalisation and to protect themselves from physical and cyber threats. Loihde consists of two business areas: security solutions with the brand Loihde Trust, and digital development with the brands Loihde Advance, Loihde Factor and Loihde Cloudon. The Group has approximately 850 employees and its revenue in 2023 amounted to EUR 133 million.
Attachments
Loihde Plc: SHARE REPURCHASE 9.1.2025
Helsinki Stock Exchange
Trade date: 9.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 460 shares
Average price / share: 11,2164 EUR
Total cost: 5 159,55 EUR
Following shares repurchased on 9.1.2025
the Group now holds 40 479 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
Loihde Plc: SHARE REPURCHASE 8.1.2025
Helsinki Stock Exchange
Trade date: 8.1.2025
Bourse trade: BUY
Share: LOIHDE
Amount: 699 shares
Average price / share: 11,4150 EUR
Total cost: 7 979,10 EUR
Following shares repurchased on 8.1.2025
the Group now holds 40 019 shares.
On behalf of Loihde Plc
Lago Kapital Ltd
Maj van Dijk Jani Koskell
Further information:
CEO Samu Konttinen
Media contact: Director of Communications Tiina Nieminen
tel. +358 44 411 3480
email: tiina.nieminen@loihde.com
Attachments
| Shareholders | Date | % of Shares | % of Votes |
|---|---|---|---|
| Suomen Teollisuussijoitus Oy | 31.12.2024 | 4.8% | 4.8% |
| Bellurum Oy | 31.12.2024 | 3.7% | 3.7% |
| Lakiasiaintoimisto Asiakasturva Oy | 31.12.2024 | 2.2% | 2.2% |
| Sijoitusrahasto Visio Allocator | 31.12.2024 | 1.7% | 1.7% |
| Tenendum Oy | 31.12.2024 | 1.4% | 1.4% |
| LähiTapiola Keskinäinen Henkivakuutusyhtiö | 31.12.2024 | 1.3% | 1.3% |
| LähiTapiola Keskinäinen Vakuutusyhtiö | 31.12.2024 | 1.3% | 1.3% |
| City of Vaasa | 31.12.2024 | 1.2% | 1.2% |
| Hotcom Oy | 31.12.2024 | 1.2% | 1.2% |
| Pelkonen Antti Olavi | 31.12.2024 | 1.2% | 1.2% |
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Company Facts
Guidance
In 2024, Loihde expects the Group's revenue to be on par with the previous year or grow and adjusted EBITDA to improve compared to 2023, when it was EUR 7.6m.
Financial targets
2024-2027: Annual revenue growth of approximately 10% (2027 target over EUR 200m), adj. EBITDA-margin 15% by 2027. ROI above 10% and net debt/EBITDA 0-2x.
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