contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
      id
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    id
    name
    pageUrl
    viewerIsFollowing
    defaultInstrument {
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


grks-guidance-upgrade-confirmed-the-company-has-stayed-on-expected-course

__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Head of Research

Antti Viljakainen

Analytiker

Kasper Mellas

GRK Infra operates in the infrastructure sector. The company's core competence includes the implementation of various infrastructure projects, project management of large and small projects and extensive railway expertise. Customers include the state, municipalities and cities as well as the private sector. In addition to the parent company GRK Infra Oyj, the GRK Group includes companies in each country of operation: GRK Suomi Oy in Finland, GRK Eesti AS in Estonia and GRK Sverige AB in Sweden.

GRK Infra

GRK's guidance raise and its magnitude were well in line with our expectations, as our current forecasts are within the new guidance ranges for both revenue and adjusted EBIT. 

<p class="MsoNormal"><em><strong>Translation: Original published in Finnish on 6/19/2025 at 7:10 am EEST.</strong></em></p>
<p class="MsoNormal">GRK&apos;s guidance raise and its magnitude were well in line with our expectations, as our current forecasts are within the new guidance ranges for both revenue and adjusted EBIT. Therefore, the positive earnings warning does not create immediate pressure for changes to our short-term forecasts for GRK, but in our view, it does slightly reduce forecast risks and the share&apos;s risk level.&#xa0;</p>
<h2 class="MsoNormal"><strong style="mso-bidi-font-weight: normal">GRK&apos;s projects have gone well and the company has also succeeded in new sales</strong></h2>
<p class="MsoNormal">GRK issued a guidance upgrade yesterday regarding its current year&apos;s revenue and adjusted EBIT. GRK now estimates that its revenue in 2025 will be 730-800 MEUR (was 650-730 MEUR) and its adjusted EBIT will be 45-55 MEUR (was 36-45 MEUR).</p>
<p class="MsoNormal">According to the company, the positive development of its revenue and EBIT has continued in Q2. GRK&apos;s projects have progressed faster than anticipated in H1, and year-end project forecasts have been refined. In addition to the strong realized earnings performance, the company has succeeded in securing new orders.</p>
<h2 class="MsoNormal"><strong style="mso-bidi-font-weight: normal">The guidance upgrade was expected, and our forecasts are within the new ranges</strong></h2>
<p class="MsoNormal">The positive earnings warning was, in our view, largely expected, considering GRK&apos;s very strong Q1 figures, the order book being at a good level both quantitatively and probably qualitatively at the end of Q1, and its normal order book turnover rate. In our initiation of coverage report (available <a href="https://www.inderes.se/research/grk-initiation-of-coverage-infra-for-value-creation-has-been-built">here</a>), published at the end of May, we set our current year forecast for the company above the original guidance range. In our forecasts, we expect GRK&apos;s revenue to grow this year by 7% to 778 MEUR and adjusted EBIT by 11% to 50.5 MEUR. Consequently, our forecasts are also within the new guidance ranges, and the positive earnings warning does not create immediate revision pressure for our short-term forecasts for GRK. Following the early earnings warning and positive comments regarding new sales, the risk level associated with current year forecasts and the share decreased slightly. A portion of the promising new sales from Q2 may also be allocated to future years, but we have already factored this into our forecasts.</p>

	2024	25e	26e
Omsætning	728,4	778,3	735,5
vækst-%	33,4 %	6,8 %	-5,5 %
EBIT (adj.)	45,6	50,5	44,1
EBIT-% (adj.)	6,3 %	6,5 %	6,0 %
EPS (adj.)	0,93	0,97	0,86
Udbytte	0,20	0,50	0,55
Udbytte %	2,0 %	3,5 %	3,9 %
P/E (adj.)	10,9	14,7	16,6
EV/EBITDA	5,2	7,1	7,7

GRK's guidance upgrade confirmed the company has stayed on expected course

GRK's projects have gone well and the company has also succeeded in new sales

The guidance upgrade was expected, and our forecasts are within the new ranges

GRK Infra

Key Estimate Figures28.05