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Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Anora Group

4.60 EUR-0.43 %6.11, 17.29
5,634 following

ANORA

NASDAQ Helsinki

Food & Beverage

Consumer Goods & Services

Overview
Financials & Estimates
Dividend
Short Selling
Investor views
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-0.43 %
+22.02 %
+25.85 %
+41.98 %
+19.33 %
+34.70 %
+7.85 %
-57.41 %
-40.41 %

Anora Group is a producer of alcoholic beverages. The product portfolio consists of wine and spirits marketed under various brands. The largest operations are found in the Nordics and the Baltics, and the company's products are exported to retailers in Europe and North America. The company was created through a merger of Altia and Arcus in 2021 and has its headquarters in Helsinki.

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Market cap
310.75M EUR
Turnover
191.79K EUR
P/E (adj.) (26e)
10.83
EV/EBIT (adj.) (26e)
8.21
P/B (26e)
0.78
EV/S (26e)
0.64
Dividend yield-% (26e)
5.43 %
Coverage
Recommendation
Reduce
Target price
4.00 EUR
Updated
31.10.2026
Disclaimer
Rauli Juva
Rauli Juva

Analyst

Latest research

Latest analysis report

Released: 02.11.2026

Latest extensive report

Released: 09.04.2026

Revenue and EBIT-%
EPS and dividend
Financial calendar
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Business risk
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Forum discussions
Operating profit forecasts were beaten: Anora Group Oyj:n osavuosikatsaus 1.1.–30.9.2026: FFF-toimenpiteet vauhdittivat liikevaihdon ja vertailukelpoisen käyttökatteen kasvua Q3:lla | Kauppalehti Q3 2026 in brief Revenue was EUR 157.5 (156.7) million, up 0.5 percent. Comparable EBITDA...
10/30/2026, 6:50 AM
by NukkeNukuttaja
5
Yes, they are indeed streamlining. As part of the strategy announced a year ago, the goal is to cut EUR 20 million in fixed costs. As part of this, change negotiations cutting EUR 7 million in personnel expenses were carried out in Finland at the end of last year, the effects of ...
10/28/2026, 8:11 AM
by Rauli_Juva
5
Anora is set to release its Q3 figures on Friday, and as usual, there will also be an interview with the two executive heads. If you have any questions or come up with any, feel free to send them over…
10/26/2026, 11:45 AM
by Rauli_Juva
4
So this is the exact same estimate that was already given in August when the letter of intent was announced, and they are already included in our forecasts.
10/6/2026, 5:31 AM
by Rauli_Juva
4
There’s been quite a lot of talk here particularly about monopoly volumes, but what does the equation look like when factoring in pricing and product mix? The shelf price alone doesn’t tell you how much revenue the manufacturer records. In the Nordic alcohol market, there is a fairly...
11/2/2026, 10:00 AM
by WidemoatInvesting
3
Anora’s CEO Kirsi Puntila and CFO Stein Eriksen were interviewed by Rauli Topics: (00:00) Introduction (00:09) Q3 performance (01:57) Industrial segment performance (03:15 Wine & Spirits segment performance (04:38) Distribution agreement with Bacardi (06:15) Progress of the Fit, ...
10/30/2026, 3:01 PM
by Sijoittaja-alokas
3
Here is Rauli’s preview ahead of Anora reporting its Q3 results on Friday We expect the company’s revenue and adjusted EBITDA to remain practically at the level of the comparison period. We expect the company to reiterate its full-year earnings guidance, as it is well-positioned ...
10/28/2026, 9:28 AM
by Sijoittaja-alokas
3
Read more on our forum
Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
16.2
2027

Annual report '26

21.4
2027

General meeting '27

5.5
2027

Interim report Q1'27

Anora Q3'26: Efficiencies pay off, cost pressure mounts
Research02.11.2026, 09.49
by Rauli Juva

Anora Q3'26: Efficiencies pay off, cost pressure mounts

We raised our forecasts slightly, but in our view, accelerating cost inflation next year will limit earnings growth.

Anora Group
Anora Q3’26: Revenue growth returns after more than four years10:42
Video30.10.2026, 14.58
by Rauli Juva

Anora Q3’26: Revenue growth returns after more than four years

Anora’s revenue turned positive for the first time in more than four years. Profitability has also improved this year.

Anora Group
Anora, Audiocast, Q3'26
Webcast30.10.2026, 10.00

Anora, Audiocast, Q3'26

Anora Group

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Anora Group Q3'26 flash comment: Efficiency measures boosted earnings above estimates
Analyst Comment30.10.2026, 10.06
by Rauli Juva

Anora Group Q3'26 flash comment: Efficiency measures boosted earnings above estimates

The record earnings of the Industrial segment were the main driver of the strong earnings.

Anora Group
Regulatory press release30.10.2026, 08.00

Anora’s financial reporting and Annual General Meeting in 2027

Anora Group
Regulatory press release30.10.2026, 07.30

Anora Group Plc’s Interim Report for 1 January - 30 September 2026: FFF actions fuelled Net Sales and Comparable EBITDA growth in Q3

Anora Group
Anora Group Q3'26 preview: Earnings expected at year-ago level
Analyst Comment28.10.2026, 08.37
by Rauli Juva

Anora Group Q3'26 preview: Earnings expected at year-ago level

Efficiency measures will keep the Q3 result stable, even though market volumes decreased by 2–3% in the Nordics.

Anora Group
Press release19.10.2026, 09.00

Publication of Anora’s Interim Report for January–September 2026 on 30 October 2026 and invitation to results presentation

Anora Group
Regulatory press release05.10.2026, 19.45

Anora has signed a distribution agreement with Bacardi in Sweden and Norway

Anora Group
Regulatory press release25.08.2026, 15.30

Composition of Anora’s Shareholders’ Nomination Board

Anora Group
Analyst Comment25.08.2026, 09.46
by Rauli Juva

Anora: Viva Wine's performance in Q2 was also better than Anora's Wine segment

Viva's revenue declined organically in the Nordics, roughly in line with the market.

Anora GroupViva Wine
Regulatory press release19.08.2026, 10.30

Anora Group Plc: Managers' Transactions – Kirsi Puntila

Anora Group
Anora Q2'26: Earnings on an upward trend
Research17.08.2026, 09.09
by Rauli Juva

Anora Q2'26: Earnings on an upward trend

Anora's Q2 earnings exceeded expectations, prompting us to increase our estimates. The guidance, which has been reiterated for the full year, now seems realistic, and the company is poised for a return to earnings growth

Anora Group
Anora Q2'26: Significant improvement in margin11:57
Video14.08.2026, 14.50
by Rauli Juva

Anora Q2'26: Significant improvement in margin

Anora delivered a brisk Q2 earnings report, particularly in terms of profitability.

Anora Group
Anora, Audiocast, Q2'26
Webcast14.08.2026, 10.00

Anora, Audiocast, Q2'26

Anora Group
Regulatory press release14.08.2026, 08.55

Inside information: Anora has signed a letter of intent with Bacardi on a strategic distribution agreement in Sweden and Norway

Anora Group
Anora Group Q2'26 flash comment: Industrial segment drove earnings above comparison period and estimates
Analyst Comment14.08.2026, 09.02
by Rauli Juva

Anora Group Q2'26 flash comment: Industrial segment drove earnings above comparison period and estimates

The strength of the Industrial segment drove EBITDA to 16 MEUR and mitigates the risks associated with the guidance.

Anora Group
Regulatory press release14.08.2026, 07.30

Anora Group Plc’s Half-Year Report for 1 January - 30 June 2026: Continued FFF actions driving Q2 Comparable EBITDA growth

Anora Group
Anora Group Q2'26 preview: Efficiency measures defend earnings in a subdued market
Analyst Comment12.08.2026, 08.18
by Rauli Juva

Anora Group Q2'26 preview: Efficiency measures defend earnings in a subdued market

Efficiency measures protect earnings in a sluggish market – yet we see a risk of lowered guidance.

Anora Group
Press release30.07.2026, 09.00

Publication of Anora’s Half-year Report for January–June 2026 on 14 August 2026 and invitation to results presentation

Anora Group