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
            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 {
    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

Analyst

Tommi Saarinen

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.

Here are Ate’s comments on the recent GRK (and Kreate) contract. Kreate and GRK announced that they had signed an agreement with the City of Vantaa regarding the first implementation phase of the eastern section of the Vantaa Light Rail. The total estimated construction cost for the eastern section alliance is EUR 280 million, which is divided equally between GRK and Kreate. The news comes as no surprise, as the Vantaa City Council approved the revised project plan last week.                   Inderes              Kreate ja GRK solmivat sopimuksen Vantaan ratikan ensimmäisen vaiheen...    Itäosan rakentamisen hanke on 280 MEUR:n kokonaisarvollaan merkittävä molemmille yhtiöille, joskin Kreaten kokoluokassa projektin laajuus korostuu.

GRK’s CFO Markku Puolanne was talking about their company as an investment target at the Sijoittaja 2025 event.                    Inderes              GRK sijoituskohteena | Sijoittaja 2025 - Inderes    Aika: 27.11.2025 klo 15.39 GRK:n talousjohtaja Markku Puolanne avaa yhtiön liiketoimintaa Sijoittaja 2025 -tapahtumassa.

https://www.grk.fi/tiedotteet/#/embedded/announcement/71646206?publisherId=69819211&widget=true GRK’s Board of Directors decided to cancel all treasury shares held by the company. The cancellation concerns over 2.3 million treasury shares held by the company, corresponding to slightly over 5% of all the company’s shares before the cancellation. The cancellation of treasury shares does not affect our forecasts or our view of the company, as we have already taken them into account in our model.

Apparently, the budget has grown a bit, as GRK now estimates its share to be a total of 140 MEUR (previously ~110 MEUR). Now, the share of the first phase, i.e., 45 MEUR, will be recorded in the order book.

GRK – 27 Nov 25              GRK ja Kreate allekirjoittivat sopimuksen Vantaan ratikan itäosan ensimmäisen...    Kreaten ja GRK:nmuodostama ryhmittymä on allekirjoittanut 27.11.2025 Vantaan kaupungin kanssa sopimuksen Vantaan ratikan itäosan ensimmäisestä toteutusvaiheesta. GRK kirjaa ensimmäisestä vaiheesta reilun 45 miljoonaa euroa tilauskantaansa. Vantaan...                             And there it goes!

Indeed, the Vantaa City Council decided to build a tram line after a vote. Therefore, the transfer of the eastern part’s project development project to GRK’s (and Kreate’s) order book and implementation should, in my understanding, materialize. However, let’s still wait for the company’s/companies’ announcements on the matter. The project’s progress has indeed been our base scenario in our forecasts, so the news was not a surprise as such. This is indeed an alliance project for the mentioned companies (the eastern part of the line) worth 217 MEUR (original estimate), in which GRK and Kreate have participated together with equal shares. GRK’s previous announcement on the matter is here.

Today, we will likely hear what happens with the Vantaa tram and the Turku one-hour train… both of which will probably affect GRK’s future development.

GRK Infra

GRK announced yesterday that it had acquired A-Kaabel OÜ, an Estonian company that specializes in infrastructure electrical services.

Translation: Original published in Finnish on 7/8/2025 at 8:15 am EEST.
GRK announced yesterday that it had acquired A-Kaabel O&#xdc;, an Estonian company that specializes in infrastructure electrical services. The acquisition aims to strengthen GRK&apos;s position in the field of infrastructure electrical works in Estonia, which is set to grow in the coming years due to the green transition. The target company had revenue of 4 MEUR and a net profit of 0.25 MEUR, corresponding to approximately half of one percent of GRK&apos;s size. Therefore, the acquisition is very small in relation to GRK&apos;s size. The companies did not disclose the purchase price, leaving the valuation of the deal undetermined for the time being. Due to the small size of the acquisition, there is little pressure to change our estimates, but we will include the deal in our next update.

	2024	25e	26e
Revenue	728.4	778.3	735.5
growth-%	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
Dividend	0.20	0.50	0.55
Dividend %	2.0 %	3.8 %	4.2 %
P/E (adj.)	10.9	13.4	15.2
EV/EBITDA	5.2	6.3	6.9

GRK made a small acquisition in Estonia

Key Estimate Figures28.05

Forum discussions