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 ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...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
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    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
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            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 {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    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
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Head of Research, Stables

Rasmus Køjborg

CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki, Finland.

What are those measurable natural capital benefits? Are there concrete examples?

Arvopaperi’s Advent Calendar, Door 3: Three Cheap Growth Companies from the Helsinki Stock Exchange 3. Capman The asset management company Capman is forecast to grow its revenue by 22.6 percent in 2026. Its profit is estimated to grow by 52.6 percent. Based on 2026 forecasts, the P/E ratio is 13.1. Capman also receives an ‘add’ recommendation from Inderes. The forecasts are based on Capman succeeding in new sales in the coming years, and profit growth materializing. In its third-quarter interim report, Capman commented that cautious signs of market recovery are already visible. The company stated, among other things, that the M&A market has reactivated and the duration of fundraising for alternative asset classes has shortened compared to the previous two years. Full story behind the paywall:                   Arvopaperi – 3 Dec 25              Luukku 3: Kolme halpaa kasvuyhtiötä Helsingin pörssistä    Joulukalenterin kolmannesta luukusta paljastuu kolme yhtiötä, joissa yhdistyvät halpa arvostus sekä vahvat kasvuluvut tuloksen ja liikevaihdon osalta.

Let’s cut down the forests so Ikea can sell more junk

News Powered by Cision              CapMan Natural Capital myy metsäomaisuutta Inter IKEA Groupille    CapMan Natural Capital -lehdistötiedote  3.12.2025 klo 13.00  CapMan Natural Capital myy                             Dasos Timberland Fund II, a private equity fund managed by CapMan Natural Capital, has signed an agreement for the sale of a forest asset portfolio of approximately 24,000 hectares in Latvia and Lithuania to Inter IKEA Group. After more than a decade of active forest management, the forests have reached a mature stage in their value creation cycle. During its ownership, CapMan Natural Capital has managed the forests according to sustainable forest management principles and implemented a series of operational improvements. These measures have improved the condition and productivity of the forests and strengthened their long-term sustainability. As part of this work, the forests in both Latvia and Lithuania were certified according to the internationally recognized forest certification, the Forest Stewardship Council (FSC®). CapMan Natural Capital has enhanced the portfolio’s value by negotiating timber supply agreements and developing renewable energy-related opportunities. The transaction is expected to close in the first half of 2026 and is subject to customary regulatory approvals. The investment is estimated to exceed the fund’s target return, supporting a strong total return for investors. Following the transaction, CapMan Natural Capital will manage a total of approximately 215,000 hectares of land and continue to be one of the largest independent forest owners in the European Union, operating in eight different countries. The CapMan Dasos Sustainable Forest III special investment fund is open for new subscriptions quarterly, and CapMan Natural Capital’s European Forest Fund IV aims to complete its first closing by the end of 2025. Sustainability, generating measurable natural capital benefits, active value creation, and disciplined risk management will continue to be at the core of the team’s investment strategy.

News Powered by Cision              CapMan Growth sijoittaa Factory-ravintolaketjuun yhdessä Aku Vikströmin kanssa    CapMan Growth -lehdistötiedote 2.12.2025 klo 9.15    CapMan Growth Equity Fund III on                             CapMan Growth Equity Fund III has signed an agreement for a significant investment in the Factory restaurant chain, known for its high-quality, self-made home-style food with good value for money. The investment supports Factory’s ambitious growth strategy to expand into a nationwide chain and strengthen its presence in shopping centers as well. Restaurant industry veteran Aku Vikström also joins as a new owner to accelerate growth and will also join the company’s board of directors. Factory has expanded strongly in recent years and currently has 22 restaurants in Southern Finland, mainly in the Helsinki metropolitan area. Over the past 15 years, the company has demonstrated steady annual growth of over 20 percent and strong profitability, maintaining cash flow positivity even during the Covid-19 pandemic. In the fiscal year ending May 2025, Factory’s turnover was 20.8 million euros, and its profitability significantly exceeds the industry average. Factory’s recipe for success is based on its professional staff and strong corporate culture. Investment in diverse job roles and employee well-being has resulted in an exceptionally high level of commitment: eNPS 50. The company has approximately 200 employees, all in permanent employment or on hourly contracts without temporary agency workers. This combination of operational efficiency and motivated personnel has been a key factor behind Factory’s sustained success. The company’s growth plan focuses on opening new restaurants across Finland: in bustling office properties and increasingly in shopping centers, where the demand for straightforward, yet high-quality and healthy restaurant concepts is very strong. The goal is to at least double the number of restaurants in the coming years. Factory’s founder, current main owner Jani Antila, continues as a significant shareholder and in an active role in the company’s development as a board member. The company’s CEO and significant shareholder, Matti Karvonen, also continues in his role. CapMan Growth collaborates with the best industry experts, such as Aku Vikström, in connection with its investments. Vikström is the former CEO of NoHo Partners and Royal Ravintolat and currently serves as the CEO of Orkla Foods Europe. He is investing in the company and joining Factory’s board of directors. This investment is the fourth for CapMan Growth Equity Fund III.

News Powered by Cision              CapMan Buyout myy DEN Groupin Metric Capital Partnersille    CapMan Buyout lehdistötiedote 20.11.2025 klo 12.05  CapMan Buyout myy DEN Groupin Metric                             CapMan Buyout Sells DEN Group to Metric Capital Partners Funds managed by CapMan Buyout have sold Finland’s leading small house builder, DEN Group Oy, to Metric Capital Partners. CapMan Buyout invested in DEN Group Oy in 2011 and has since supported the company through various cycles of the detached house construction market. During CapMan Buyout’s ownership, DEN Group has strengthened its position as a leading player in Finnish detached house construction. The company has significantly increased its market share and expanded into new segments. Today, in addition to Designtalo, the company’s business includes Finnlamelli, which focuses on log homes, and Ainoakoti, which is a co-branded product with Kesko. Through these three brands, DEN Group offers cost-effective, environmentally friendly, and high-quality detached house solutions. As part of the transaction, Metric Capital Partners will acquire DEN Group Oy from the CapMan Buyout IX Fund and from DEN Group’s other current owners. The transaction is expected to close by the end of 2025.

We discuss CapMan and Q3, in English                   Inderes              CapMan Q3’25: Light at the end of the tunnel in the fundraising market - Inderes    Time: 2025-11-13 12:41 CapMan’s Q3 was slightly better than expected. Q3 revenue grew clearly due to the acquisitions completed earlier in the year.

CapMan

Verkkokauppa is a consumer electronics chain. The company's e-commerce platform offers products used in computer technology, consumer electronics, toys, games, sports and childcare products. Customers are found among private players and corporate customers, mainly around the Nordic market. Verkkokauppa was founded in 1992 and has its headquarters in Helsinki.

Helsingin Sanomat – 30 Oct 25              Harmaa talous | Viranomainen puuttui valtaviin käteisostoksiin...    Verkkokauppa.comille määrättiin 540 000 euron seuraamusmaksu, koska ketjussa on tehty suuria käteismaksuja vailla asiasta ilmoittamista.                              The Authority imposes an administrative sanction of 540,000 euros on Verkkokauppa.com. According to the Regional State Administrative Agency for Southern Finland (AVI), the chain known for selling electronics has neglected the Anti-Money Laundering Act. The law requires, among other things, identifying the customer when sums exceed 10,000 euros as a single transaction or as related transactions. AVI considers it particularly reprehensible that the company has not reported suspicious transactions.

Olli interviewed Verkkis’s CEO Panu Porkka                    Inderes              Verkkokauppa.com Q3'25: Hyvin menee - Inderes    Aika: 24.10.2025 klo 15.50 Verkkokauppa.com raportoi erinomaisen Q3-tuloksen, jossa sekä myynti että tulos kasvoivat odotuksiamme nopeammin. Kasvumoottoriksi on muotoutumassa myös kansainvälinen kauppa, joka kasvoi kvartaalin aikana 35 %....                             Topics: 00:00 Start  00:10 Q3 Highlights  02:20 Sales and profitability improved  05:02 Market share has grown  06:35 Retail disruption is progressing  07:45 Sale of scholarship business  10:54 Fat cash reserves  11:25 Tailwinds from Windows 11 and HD televisions  13:50 Discretionary spending is subdued  14:29 How will the result remain at a high level in the future?

Here are Olli’s thoughts more comprehensively                    Inderes              Verkkokauppa.com Q3'25: Markkinaosuuden valtaus jatkui kannattavasti - Inderes    Verkkokauppa.com raportoi erinomaisen Q3-tuloksen, jossa  sekä myynti että tulos kasvoivat odotuksiamme nopeammin. Nostimme ennusteitamme ja tavoitehintamme 4,3 euroon (aik.  3,7 €). Toistamme lisää-suosituksen, sillä näemme...

Here are my own thoughts on this                   Inderes              Verkkokauppa.com Q3’25 -pikakommentti: Vahvat luvut tiskiin - Inderes    Verkkokauppa.com raportoi jälleen erinomaisen Q3-tuloksen ja venytti tuloksellisesti vahvojen kvartaalien putken jo neljään. Liikevaihdon kasvu oli reipasta ja ennustamamme selvä tulosparannus realisoitui vielä odotuksia voimakkaammin. Odotuksia...

Verkkis delivers  A clear beat to forecasts                   Inderes              Robokommentti Verkkokauppa.comin Q3-tuloksesta - Inderes    Verkkokauppa.comin Q3-tulos ylitti odotukset selvästi vahvan liikevaihdon kasvun ja parantuneen kannattavuuden ansiosta. Yhtiö hyötyi verkkokaupan voimakkaasta kasvusta ja IT-kategorian kysynnän elpymisestä, samalla kun myyntikate parani...

Verkkokauppa.com Oyj Interim Report 1.1.-30.9.2025: Significant Revenue Growth and Operational Efficiency Behind Strong Earnings Development - Inderes   Revenue increased by 14.9 percent to EUR 131.2 million (114.2)   Gross profit was EUR 21.8 million (16.6) and gross profit margin was 16.6% (14.5%)   Operating profit (EBIT) was EUR 7.2 million (0.1), or 5.5% (0.1%) of revenue   Comparable operating profit (comparable EBIT) was EUR 3.9 million (-0.7), or 3.0% (-0.7%) of revenue   Items affecting comparability amounted to EUR 3.3 million (0.8) related to a one-off gain on sale from the divestment of the consumer finance business   Profit for the period was EUR 5.3 million (-0.3)   Earnings per share were EUR 0.12 (-0.01)   Verkkokauppa.com Oyj commences share buyback program - Inderes

The online store’s survey site seems (unnecessarily) suspicious. This is due to browser settings, but still - as there’s all sorts of things nowadays and people are increasingly cautious. Someone might misinterpret it and cause overreactions. “Firefox detected a potential security threat and did not proceed to the site link.verkkokauppa.com. If you visit this site, your personal information such as passwords, emails, or credit card details might be attempted to be stolen.” “You have enabled HTTPS-Only Mode to enhance security, but an HTTPS version of link.verkkokauppa.com is not available.” Edit: exact links removed.

Verkkokauppa.com

Harvia is a manufacturer of sauna systems. The product range consists of complete solutions that include ready-made sauna and spa systems, as well as electric sauna heaters, wood-burning sauna stoves and related furnishings. In addition, the company manufactures infrared sauna systems. Operations are held on a global level, where the company's products are found through partners. The company was founded in 1950 and has its headquarters in Muurame.

It did. From what I glanced at those numbers myself, they look to be in the right direction. However, for the 2018 P/E, you have picked the P/E according to the reported EPS, when otherwise you use (quite reasonably) adjusted ones. The adjusted P/E in the initiation of coverage report for the current year seemed to be 13.4. (This can also be calculated from that table: 6/0.45). In this case, the impact of the multiple expansion is somewhat greater, i.e., about 115%. A very good exercise, and that has been the main question for me too for the past couple of years: what would be an acceptable valuation level, as the company is excellent.

I made a small analysis of Harvia’s total return from summer 2018 - present, based on Inderes’ reports. Now I delved a bit deeper into the sources of shareholder return, hopefully it went at least roughly correctly, as I’m not very good at valuation. @Rauli_Juva if you wouldn’t mind taking a look at my thoughts, I’d love to hear your comments! Harvia’s business has developed strongly:  Revenue +220% EPS +231% Adj. operating profit % 19.0% → 20.3%  So, the business has performed excellently. Now let’s look at valuations and returns:  Share price has risen +616% (since the start of coverage, i.e., €6.00) Dividends have totaled €4.11 over the entire period Total return is +684% if dividends were not reinvested  Now to an interesting figure, namely valuation:  P/E has risen 15.8 → 28.9, i.e., +83%  In reports back then, an “acceptable P/E” ratio for Harvia was floated around the 14 level. Now the question is, what would be today’s “acceptable P/E” ratio? Harvia has expanded quite a bit, so its risk profile has, in principle, decreased. Additionally, growth targets have been raised, and profitability is (slightly) better. So, by all accounts, one could assume the valuation level has also increased. But by how much? Well, this was a brief outline but roughly illustrates how the company has grown and where the returns have come from. A larger portion of the return has come from earnings growth (which is a good sign), but the increase in valuation has also brought significant gains. And dividends have been substantial (considering that the subscription price was €5.00 and dividends have already totaled €4.11).

I follow Almost Heaven’s online store from time to time; it seems that delivery times have stretched during the autumn from about 3 weeks in the summer to the current two months. Based on that, one could assume sales have been good if there haven’t been any major bottlenecks in production. Through Costco, one can certainly get it a bit faster, usually always 3-4 weeks delivery. In my opinion, there’s also more value for the customer in those Almost Heaven packages priced by Costco. Of course, for Harvia, it’s certainly a clearly lower-margin business than sales obtained through their own online store. Are there still people on the forum following these numbers more closely or following European resellers? I’d be interested to hear views on the current situation. My own monitoring is mainly occasional glances without any precise tabulation. My long-term trust in Harvia is strong, and the intention is to stay invested for at least 5-10 years, if nothing unexpected happens.

Continuation of the series “celebrities enjoying Harvia products”:  This will likely have a very moderate impact on the share price

It’s a pity that Mr. Olbrich had to step down from the position after a rather short (1.5-year) chairmanship. But Harvia will surely do well under someone else’s leadership too. The change seems to stem from Olbrich’s own reasons, so it’s unlikely to have much of an impact on the company.  Hille certainly has a long career in leading consumer product companies, which should be a perfectly suitable background for Harvia. The stint leading Renkaat was not very successful, but otherwise, I cannot evaluate him.

Hille Korhonen’s track record in operational activities isn’t very flattering. Of course, on the board, she is just one among others, and naturally, these days, when there needs to be an equal distribution of members, that can give a boost to some.

Harvia

Scandinavian Medical Solutions is a Danish-based trading company specialized in purchase and resale of used diagnostic imaging equipment such as CT scanners and MR scanners of high quality. Scandinavian Medical Solutions is specialized in offering flexible solutions for customers with specific demands, which is often a better and cheaper alternative to a new and more expensive produced OEM-equipment.

Scandinavian Medical Solutions was founded in 2018, and the company has been listed at Nasdaq First North in Denmark since November 2021.

Scandinavian Medical Solutions

WithSecure operates in the IT sector. The company specializes in cybersecurity solutions and provides IT solutions used to manage computer viruses and other potential IT threats in data, mobile and cloud services. The company's services are offered mainly to corporate customers and larger institutions. Operations are held throughout the Nordic and European markets. The headquarters are located in Helsinki.

Has anyone thought about how redemptions should be reported to the tax authorities? Nordnet has reported the acquisition cost as 0. F-Secure shares bought 20 years ago for less than one euro per share?

Here are Ate’s comments on the preliminary result of WithSecure’s subsequent tender offer period.                    Inderes              WithSecuren ostotarjouksen jälkikäteisen tarjousajan alustava tulos julki -...    Jälkikäteisen tarjousajan alustavan tuloksen perusteella ostotarjous hyväksyttiin 1 259 996 osakkeen osalta, jotka edustavat noin 0,7 % WithSecuren osakkeista ja äänioikeuksista.

The offer period ends on 17.11, so you can still participate on Monday.

Well, that’s pretty odd. So I ended up letting my money sit idle for a while for nothing.

It seems something went wrong with the approval and it hasn’t been completed. If I were you, I would probably sell on the stock exchange on Monday; that way you’d at least get the same share price. Of course, there’s a selling fee involved…

They are gone. That story is over. We should invent characters….

WithSecure

Boozt AB is a Swedish headquartered fashion and lifestyle retailer operating in the e-commerce space. It was founded in 2011 and listed on the Nasdaq Stockholm in 2017. The company is now dual-listed after it also began trading on the OMX Nasdaq Copenhagen in 2020.

Boozt generates its revenue primarily through retail sales in the fashion sector via its multi-brand webstore Boozt.com. It also offers apparel goods, beauty products and lifestyle brands in the home category.

In 2015 another platform was added with Boozlet.com, which serves as Boozt’s outlet allowing the company to use this channel for inventory clearance and products that do not sell well in its season. Booztlet.com can also bring in larger stockpiles from different brands.

Boozt is part of the large cap indices in both Stockholm and Copenhagen.

Boozt

 I dag er den tredje dag af vores Virtual Nordic Growth Days seminar. Nordea hæver anbefalingen på Boozt.

Dagens aktienyheder 15/12 2022: Virtual Growth Days Seminar &ndash; dag 3 og&nbsp;Boozt &nbsp; I dag er den tredje dag af vores Virtual Nordic Growth Days seminar, hvor vi f&aring;r en pr&aelig;sentation fra danske&nbsp;Scandinavian Medical Solutions&nbsp;samt de f&oslash;lgende finske selskaber -&nbsp;CapMan,&nbsp;Harvia,&nbsp;Verkkokauppa.com Oyj,&nbsp;WithSecure&nbsp;og&nbsp;NORDIC LIGHTS&reg;. Se dagens program her og tilmeld dig seminaret: <a href="https://hcandersencapital.dk/event/virtual-growth-days-seminar-15-december/" target="_blank" rel="noopener">https://hcandersencapital.dk/event/virtual-growth-days-seminar-15-december/</a> Du kan ogs&aring; se eller gense tirsdagens og onsdagens selskabspr&aelig;sentationer her: 13. december: <a href="https://www.youtube.com/watch?v=FpZoqe3Viy8" target="_blank" rel="noopener">https://www.youtube.com/watch?v=FpZoqe3Viy8</a> 14. december: <a href="https://www.youtube.com/watch?v=Q2G3wcVXiPM" target="_blank" rel="noopener">https://www.youtube.com/watch?v=Q2G3wcVXiPM</a> Nordea h&aelig;ver sin anbefaling p&aring;&nbsp;Boozt&nbsp;til Buy fra Hold med et nyt kursm&aring;l p&aring; SEK 140. Boozt lukkede i g&aring;r i kurs SEK 109,90. Aktien er n&aelig;sten fordoblet siden bunden omkring SEK 57-58 i slutningen af september, men er fortsat i minus med omkring 40% p&aring; &aring;ret. Boozt kommer med &aring;rsregnskab for 2022 d. 10. februar 2023. Disclaimer: HC Andersen Capital modtager betaling fra selskaberne for en Digital IR aftale.&nbsp;Inderes Oyj&nbsp;og&nbsp;HC Andersen Capital&nbsp;er strategiske partnere, og Inderes udbyder commissioned research for&nbsp;CapMan,&nbsp;Harvia, @Verkkokaupa.com,&nbsp;WithSecure&nbsp;og&nbsp;NORDIC LIGHTS&reg;&nbsp;/Rasmus K&oslash;jborg, CFA&nbsp;15/12 2022 kl.&nbsp;09:04

Dagens aktienyheder 15/12-2022

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