Skip to content

Latest research

Administer Group - People sitting on couch by coffie table.
Administer logo
Administer - Turnaround story starting to bear fruit

Administer’s recent profitability strides signal a promising turn, with the potential for the new strategy to fully unfold should market conditions stabilize and demand increase.

Company report |
Marimekko-Unikko-flower-print.
Marimekko
Marimekko - CMD notes

Marimekko’s CMD offered more insights into the company’s SCALE strategy for 2023-2027 and its progress to date. The long-term financial targets remain unchanged. 

Company update |
Stone floor with shading.
Aspo logo
Aspo - Ready for earnings gains

Aspo’s results have seen ups and downs in recent years, but the stabilized environment and recent investments should now drive major earnings gains after a still soft H1’24.

Company report |
Stone floor with shading.
Etteplan logo
Etteplan - At the mercy of the market

Etteplan lowered its guidance as the market conditions have remained weak. While 2024E looks to be another gap year in the profitable growth story, we still consider the valuation undemanding for 2025-2026E. 

Company update |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Favourable profitability development

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.

Company update |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Top- and bottom-line estimates beat

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).

Earnings Flash |
Loihde text on the wall and salmon red ceiling lamp.
Loihde logo
Loihde - Steady performance expected

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. 

Preview |
Stone floor with shading.
Solteq logo
Solteq - Toughest corrective actions now behind

Solteq is set to start showing clearly improved profitability figures, with the toughest actions now behind. Actions to secure near-term financing are also set to be achieved.

Company report |
Stone floor with shading.
Solteq logo
Solteq - Focus on financing

Solteq had released preliminary Q2 figures ahead of the earnings report and the comparable net sales of EUR 13.6m (-1.5% y/y) and EBIT of EUR 0.0m came as no surprise. 

Earnings Flash |
LapWall - The installation work of the wooden element manufacturer is underway at the construction site.
Lap Wall primary logo
LapWall - All the elements for success

We initiate coverage of LapWall with a BUY-rating and TP of EUR 3.8. The sluggish residential construction market at present offers a buying opportunity as the company's valuation seems modest considering the cycle-low earnings. 

Company report |
Stone floor with shading.
Dovre logo 1
Dovre - Successful renewables focus transfer

Dovre’s Q2 results were close to our estimates. We don’t make any large estimate changes but note Dovre is already back to the EUR 8m EBIT level without the write-down.

Company update |
Exel Composites tubes.
Exel Logo RGB
Exel Composites - Solid earnings recovery

Exel’s Q2 was encouraging as EBIT recovered significantly after a challenging period of missing demand. We believe EBIT could climb towards EUR 8m in the next year or so.

Company update |

Latest videos

View all videos