Anora Group

We made minor upside revisions to our medium-term estimates after Anora announced its plans for the coming years.

8:27

Anora published its new medium-term financial targets until 2028. The focus is shifting from previous ambitious growth and margin targets to more concrete profitability improvement.

Anora’s work on an updated strategy will be divided into the following phases: Fit & Fix and Focus. The Fit & Fix phases will deliver short and mid-term performance improvement over 2025–2026, while the Focus phase drives growth initiatives from 2026 onwards. Through management presentations, the attendees will hear about Anora’s actions to build profitable growth and reach its financial targets.

The new EBITDA target for 2028 (85-90 MEUR) remains ambitious and is clearly above our current estimates, as we anticipated. Nevertheless, it is realistic when viewed in relation to historical levels, for example.

Anora’s Q3 result exceeded our expectations despite the revenue decrease. The company reiterated its guidance, and we raised our estimates to the bottom end of the guidance.

9:57

Anora’s third-quarter profitability improved through cost discipline and a strong gross margin, even as revenue declined. The company continues its efficiency program and organizational adjustments in support of its future growth strategy. CEO Kirsi Puntila and CFO Stein Eriksen comment in an interview with analyst Rauli Juva.

Anora’s revenue decreased and fell short of our expectations, but earnings grew more than we expected. The company reiterated its full-year guidance, i.e. adj. EBITDA of 70-75 MEUR, which requires an earnings improvement in Q4

Although the comparison period is relatively weak, we expect Anora's revenue to be flat year-on-year and the result to improve only marginally.

Yesterday, Anora announced its plan to launch measures to improve efficiency, aiming to achieve savings of 7 MEUR starting next year. These measures were anticipated, as CEO Puntila, who took office in March, had already provided a clear indication of them in connection with the Q2 report.