companyName

extensiveId

feedTypes

includeDividend

includeEstimates

includeOverview

includeOwnership

snapshotDate

CompanyName_Query

companySlug

CompanyMetaData

CompanyContent_query

company

query CompanyName_Query(
  $companyName: String!
  $extensiveId: ID
  $snapshotDate: String
  $feedTypes: [ContentType!]!
  $includeEstimates: Boolean!
  $includeOverview: Boolean!
  $includeOwnership: Boolean!
  $includeDividend: Boolean!
) {
  ...CompanyMetaData_Ux1x9
  ...CompanyContent_query_3mc3wd
}

fragment AnalystData on Analyst {
  name
  pageUrl
  jobTitle
  imgUrl
}

fragment AuthorList on Content {
  __isContent: __typename
  id
  authors {
    __typename
    id
    name
    pageUrl
  }
}

fragment ChangePercentBlock_Company on Company {
  defaultInstrument {
    isin
    symbol
    priceData {
      diff1mPercentage
      diff1yPercentage
      diff3yPercentage
      diffFromStartPercentage
    }
    id
  }
}

fragment CompactFeed_3NXCcw on Query {
  compactFeed: feedContent(companySlug: $companyName, filter: {types: $feedTypes}) {
    edges {
      node {
        __typename
        id
        ...TeaserExtraCompact_content
        createdAt
        companies {
          viewerIsFollowing
          id
        }
      }
      cursor
    }
    pageInfo {
      endCursor
      hasNextPage
    }
  }
}

fragment CompanyAnalystQuery on Company {
  analysts {
    ...AnalystData
    name
    pageUrl
    jobTitle
    imgUrl
    id
  }
}

fragment CompanyContent_query_3mc3wd on Query {
  ...CompanyHeader_query_Ux1x9
  ...CompanyOwnership_query_Ux1x9 @include(if: $includeOwnership)
  ...CompanyFinancials_query_Ux1x9 @include(if: $includeEstimates)
  ...CompanyDividend_query_Ux1x9 @include(if: $includeDividend)
  ...CompanyInvestorConsensus_query_Ux1x9
  ...CompanyPageTop_query_Ux1x9 @include(if: $includeOverview)
  ...CompanyPageBottom_query_2bVJwf @include(if: $includeOverview)
  ...CompanyDisclaimer_query_Ux1x9
  ...Extensive_query_3u4Ry5
}

fragment CompanyCoverage_Company on Company {
  analysts {
    name
    id
  }
  isPayingCustomerOf
  isFormerCustomerOf
  isCorporateCustomer
  ...CompanyAnalystQuery
  defaultInstrument {
    ...TargetAndRecommendation_Company
    id
  }
}

fragment CompanyDescription_Company on Company {
  description
  websiteUrl
  name
}

fragment CompanyDisclaimer_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    isPayingCustomerOf
    isFormerCustomerOf
    id
  }
}

fragment CompanyDividendER_query on Company {
  name
  defaultInstrument {
    estimateData {
      reportingCurrency
    }
    dividendTransactions: estimateTransactions(first: 1, includeQuarters: false) {
      actualized {
        year
        dividend
        dividendYield
        payoutPercentage
        sharePrice
      }
      estimates {
        year
        dividend
        dividendYield
        payoutPercentage
        sharePrice
      }
    }
    id
  }
}

fragment CompanyDividendNonER_query on Company {
  name
  defaultInstrument {
    nonERDividendSet: nonERCompanyNumberSet(includeQuarters: false) {
      year
      dividend
      dividendYield
      epsReported
      sharePrice
      currency
    }
    id
  }
}

fragment CompanyDividend_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    ...CompanyDividendER_query
    ...CompanyDividendNonER_query
    defaultInstrument {
      coreId
      id
    }
    id
  }
}

fragment CompanyFinancials_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    ...NonERCompanyNumbers_query
    ...CompanyNumbers_query
    defaultInstrument {
      coreId
      id
    }
    id
  }
}

fragment CompanyHeader_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    id
    companyInsref
    name
    viewerIsFollowing
    followersCount
    isCorporateCustomer
    hasPinpointData
    hasDividendHistory
    sector {
      sectorname
      industry
    }
    regions
    extensiveExists
    defaultInstrument {
      symbol
      priceData {
        tradeCurrency
        lastPrice
        diff1dPercentage
      }
      marketplace {
        name
      }
      estimates: estimateTransactions(first: 1, includeQuarters: false) {
        date
      }
      nonERCompanyNumberSet(first: 1, includeQuarters: false) {
        year
      }
      id
    }
    topOwners {
      holders {
        name
      }
    }
    transactions: insiderTransactions(filter: {types: [BUY, SELL, SUBSCRIPTION]}) {
      edges {
        node {
          date
          id
        }
      }
    }
  }
}

fragment CompanyInsiderTransactions on Company {
  name
  regions
  insiderTransactions(filter: {types: [BUY, EXERCISE_OF_SHARE_OPTION, PLEDGE, RECEPTION_OF_SHARE_PREMIUM, SELL, SUBSCRIPTION]}) {
    edges {
      node {
        insider
        position
        volume
        price
        date
        unit
        type
        relatedParty
        id
      }
    }
  }
}

fragment CompanyInvestorConsensus_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    companyInsref
    id
  }
}

fragment CompanyMetaData_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    description
    pageUrl
    defaultInstrument {
      estimateData {
        modelType
      }
      id
    }
    id
  }
}

fragment CompanyName_Slug on Company {
  slug
}

fragment CompanyNumbers_query on Company {
  name
  defaultInstrument {
    estimateData {
      modelType
      reportingCurrency
    }
    estimateTransactions(first: 1, includeQuarters: true) {
      comparisonIndexName
      actualized {
        year
        quarter
        revenue
        revenueGrowth
        ebitda
        ebitAdjusted
        ebitReported
        preTaxProfit
        netEarnings
        epsReported
        epsAdjusted
        dividend
        payoutPercentage
        roePercent
        roiPercent
        enterpriseValue
        bookValue
        marketCap
        gearingPercent
        equityRatio
        dividendYield
        totalCosts
        loanLosses
        balanceSheetTotal
        tangibleBook
        cet1
        rwa
        sharePrice
        sharesTotal
        nav
        navPerShare
        opexOfNav
        totalShareholderReturn
        comparisonIndexReturn
        netDebtTotalAsset
        quarterlySharePrice
      }
      estimates {
        year
        quarter
        revenue
        revenueGrowth
        ebitda
        ebitAdjusted
        ebitReported
        preTaxProfit
        netEarnings
        epsReported
        epsAdjusted
        dividend
        payoutPercentage
        roePercent
        roiPercent
        enterpriseValue
        bookValue
        marketCap
        gearingPercent
        equityRatio
        dividendYield
        totalCosts
        loanLosses
        balanceSheetTotal
        tangibleBook
        cet1
        rwa
        sharePrice
        sharesTotal
        nav
        navPerShare
        opexOfNav
        totalShareholderReturn
        comparisonIndexReturn
        netDebtTotalAsset
        quarterlySharePrice
      }
    }
    id
  }
}

fragment CompanyOverviewGraphs_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      companyTransactions: estimateTransactions(first: 1, includeQuarters: false) {
        actualized {
          year
          revenue
          ebitAdjusted
          epsAdjusted
          dividendYield
          navPerShare
          totalShareholderReturn
        }
        estimates {
          year
          revenue
          ebitAdjusted
          epsAdjusted
          dividendYield
          navPerShare
          totalShareholderReturn
        }
      }
      id
    }
    id
  }
}

fragment CompanyOwners on Company {
  regions
  topOwners {
    recordDate
    compareDate
    source
    holders {
      name
      capitalPercent
      votingPowerPercent
      positionChange
      totalSharesChange
      shareChange
      isNew
      isRemoved
    }
  }
}

fragment CompanyOwnership_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    name
    ...CompanyOwners
    ...CompanyInsiderTransactions
    id
  }
}

fragment CompanyPageBottom_query_2bVJwf on Query {
  ...GeneralFeed_data_3NXCcw
  ...CompactFeed_3NXCcw
  ...UpcomingEventsQuery_Ux1x9
  ...RiskRecommendMatrix_query_Ux1x9
  ...CompanyOverviewGraphs_query_Ux1x9
  ...NonERCompanyOverviewGraphs_query_Ux1x9
  company(companySlug: $companyName) {
    companyInsref
    ...ForumUpdates_Company
    defaultInstrument {
      coreId
      id
    }
    id
  }
  allFeed: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  main: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true, types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT, ANALYST_COMMENT, VIDEO, ARTICLE]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  webcasts: feedContent(first: 1, companySlug: $companyName, filter: {hideUpcomingVideos: true, types: [WEBCAST]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  thirdPartyResearch: feedContent(first: 1, companySlug: $companyName, filter: {types: [THIRD_PARTY_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  releases: feedContent(first: 1, companySlug: $companyName, filter: {types: [STOCK_EXCHANGE_RELEASE, PRESS_RELEASE]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
}

fragment CompanyPageTop_query_Ux1x9 on Query {
  ...StockChart_ChartQuery_Ux1x9
  ...LatestReports_query_Ux1x9
  company(companySlug: $companyName) {
    isFund
    name
    ...CompanyCoverage_Company
    ...CompanyName_Slug
    ...CompanyDescription_Company
    ...FundNumbers_Company
    ...ChangePercentBlock_Company
    ...KeyEstimateFigures_Company
    ...InvestmentCompanyKeyFigures_Company
    defaultInstrument {
      id
      estimateData {
        modelType
      }
    }
    analysts {
      name
      id
    }
    id
  }
  extensiveReport: feedContent(first: 1, companySlug: $companyName, filter: {types: [EXTENSIVE_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  analysis: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku", "Arvonluojat"]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
  analysisArvonluojat: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku"]}) {
    edges {
      node {
        __typename
        id
      }
    }
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment Extensive_query_3u4Ry5 on Query {
  company(companySlug: $companyName) {
    extensive(extensiveId: $extensiveId, snapshotDate: $snapshotDate) {
      publishedAt
      pageUrl
      content {
        id
        title
        lang
        slug
        htmlBody
        publishedAt
        createdAt
        changedAt
        isOutdated
      }
    }
    id
  }
}

fragment ForumUpdates_Company on Company {
  name
  forum {
    threadUrl
    highlightedPosts {
      url
      author
      authorImgUrl
      text
      postedAt
      likesCount
    }
  }
}

fragment FundNumbers_Company on Company {
  defaultInstrument {
    isin
    symbol
    priceData {
      lastPrice
      ath
    }
    id
  }
}

fragment GeneralFeed_data_3NXCcw on Query {
  generalFeed: feedContent(first: 20, companySlug: $companyName, filter: {types: $feedTypes}) {
    edges {
      node {
        __typename
        id
        ...Teaser_content
        ...TeaserCompact_content
      }
      cursor
    }
    pageInfo {
      endCursor
      hasNextPage
    }
  }
}

fragment InvestmentCompanyKeyFigures_Company on Company {
  marketData {
    marketCap
  }
  defaultInstrument {
    priceData {
      tradeCurrency
      dailyTurnover
    }
    estimateData {
      modelType
    }
    estimateTransactions(first: 1, includeQuarters: true) {
      actualized {
        year
        quarter
        sharesTotal
        marketCap
        nav
        navPerShare
        dividendYield
        quarterlySharePrice
      }
      estimates {
        year
        quarter
        dividendYield
      }
    }
    id
  }
}

fragment KeyEstimateFigures_Company on Company {
  marketData {
    marketCap
  }
  defaultInstrument {
    priceData {
      tradeCurrency
      dailyTurnover
      lastPrice
      marketCap
    }
    sector
    fundamentalData {
      ebit
      eps
      sales
      dividend
    }
    estimateData {
      modelType
      estimates {
        firstEstimateYear {
          year
          bookValue
          netSales
          dividendA
          epsAdjusted
          ebitAdjusted
          hybridLoan
          noOfShares
          netDebt
          mvMinorities
          mvAssociated
          roePercent
        }
      }
    }
    estimatesSharePrice: estimateTransactions(first: 1) {
      estimates {
        sharePrice
      }
    }
    id
  }
}

fragment LatestReports_query_Ux1x9 on Query {
  extensiveReport: feedContent(first: 1, companySlug: $companyName, filter: {types: [EXTENSIVE_COMPANY_REPORT]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
  analysis: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku", "Arvonluojat"]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
  analysisArvonluojat: feedContent(first: 1, companySlug: $companyName, filter: {types: [COMPANY_REPORT, EXTENSIVE_COMPANY_REPORT], tagNames_nin: ["Mallisalkku"]}) {
    edges {
      node {
        __typename
        createdAt
        pageUrl
        id
      }
    }
  }
}

fragment NonERCompanyNumbers_query on Company {
  name
  defaultInstrument {
    nonERNumberSet: nonERCompanyNumberSet(includeQuarters: true) {
      year
      quarter
      revenue
      ebitda
      ebitReported
      epsReported
      dividend
      sharesTotal
      roe
      roi
      enterpriseValue
      marketCap
      gearingRatio
      equityRatio
      dividendYield
      sharePrice
      currency
      evSales
      evEbitda
      evEbit
      pb
      netIncome
      ptp
    }
    id
  }
}

fragment NonERCompanyOverviewGraphs_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      overviewGraphsData: nonERCompanyNumberSet(includeQuarters: false) {
        year
        revenue
        ebitReported
        epsReported
        dividend
        dividendYield
        currency
      }
      id
    }
    id
  }
}

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

fragment RiskRecommendMatrix_query_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      riskData: estimateTransactions(first: 1) {
        businessRisk
        valuationRisk
      }
      id
    }
    id
  }
}

fragment StockChart_ChartQuery_Ux1x9 on Query {
  company(companySlug: $companyName) {
    isFund
    defaultInstrument {
      coreId
      id
      marketOpen
      marketClose
      marketplace {
        region
      }
      priceData {
        lastPrice
      }
      returns {
        day
        week
        month
        threeMonths
        sixMonths
        year
        threeYears
        fiveYears
        tenYears
        ytd
        total
      }
    }
    id
  }
}

fragment TargetAndRecommendation_Company on Instrument {
  estimateData {
    modelType
    researchCurrency
    estimates {
      date
      recommendation
      targetPrice
    }
  }
}

fragment TeaserCompact_content on Content {
  __isContent: __typename
  __typename
  id
  type
  title
  createdAt
  isPremium
  pageUrl
  lang
  companies {
    ...CompanyTagList
    id
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
  ...AuthorList
}

fragment TeaserExtraCompact_content on Content {
  __isContent: __typename
  id
  title
  createdAt
  pageUrl
  lang
  companies {
    name
    pageUrl
    viewerIsFollowing
    id
  }
}

fragment Teaser_content on Content {
  __isContent: __typename
  __typename
  id
  type
  title
  createdAt
  pageUrl
  imgUrl
  isPremium
  lang
  companies {
    ...CompanyTagList
    id
  }
  publishers {
    imgUrl
  }
  authors {
    __typename
    id
  }
  ... on AnalystComment {
    preview
  }
  ... on Article {
    preview
  }
  ... on CompanyReport {
    preview
  }
  ... on ThirdPartyCompanyReport {
    preview
  }
  ... on QA {
    preview
  }
  ... on Video {
    preview
    liveTime
    videoDuration
  }
  ... on Webcast {
    preview
    liveTime
  }
  ...AuthorList
  ...Reactions
}

fragment UpcomingEventsQuery_Ux1x9 on Query {
  company(companySlug: $companyName) {
    defaultInstrument {
      calendarEvents(first: 10) {
        edges {
          node {
            date
            type
            period
            id
          }
        }
      }
      id
    }
    id
  }
}


name

description

pageUrl

defaultInstrument

companyInsref

viewerIsFollowing

followersCount

isCorporateCustomer

hasPinpointData

hasDividendHistory

sector

regions

extensiveExists

topOwners

insiderTransactions

isPayingCustomerOf

isFormerCustomerOf

extensive

feedContent

Foamit

Foamit H2'25: Et glimt af rentabilitetspotentiale

Foamit H2'25 preview: Store investeringsprojekter er i mål

Partnera extensive report: Investment company turned construction product company

Tuomas Jääskeläinen appointed Vice President, Technology and R&D of Foamit Group, subsidiary of Partnera Corporation

Partnera: In construction gear

Analyst

Tommi Saarinen

First North Finland

Foamit Group takes in and process glass to be recycled, and manufacture foam glass from the sidestreams of glass recycling. The received glass is also recycled as glass chips, glass powder and glass sand for industrial purposes. Group comprises companies Uusioaines Oy, Hasopor AB, and Glasopor AS, which operate in Finland, Sweden, and Norway.

Here are Aapeli’s fresh comments regarding this latest news.  Foamit announced on Friday that it had signed a letter of intent to acquire a majority stake in Reiling’s German foam glass manufacturing subsidiary. We believe the arrangement is well in line with the company’s growth strategy and offers it the opportunity to expand into the Central European markets. The letter of intent has no immediate impact on our forecasts, and we will await the completion of negotiations.                   Inderes              Foamit ottaa strategisesti merkittävän askeleen Keski-Eurooppaa kohti - Inderes    Foamit tiedotti perjantaina allekirjoittaneensa aiesopimuksen enemmistöosuuden hankkimisesta saksalaisen Reilingin vaahtolasia valmistavasta tytäryhtiöstä.

Foamit has started to interest me, and I now own a slice of it. The product is, as I understand it, quite good. Foam glass is circular economy in construction at its best. Waste streams are used to manufacture a technically excellent product. Foam glass can be used in similar applications as Leca gravel, which has been known and used in the industry for 70 years. To my surprise, the price of foam glass is in the same range as Leca gravel. A cubic meter bag from K-Rauta is about €230 for both. I can’t say about the price differences for full truckloads. Does anyone have an idea in which property foam glass would clearly lose out to Leca gravel? I’m trying to figure out why foam glass wouldn’t take market share from Leca gravel. A few questions about the company that arose while reading the initiation report and getting to know the company. @Tommi_Saarinen   The City of Oulu is the largest owner. How should this be viewed? Is a city as an owner similar to the state?   Why is EBITDA reported instead of operating profit? Isn’t EBITDA “bullshit earnings”? What could the company’s 2028 target of 20% EBITDA correspond to in terms of EBIT %?   In my opinion, Foamit has a lot in common with LapWall. A technically good product that aims to take market share from an alternative way of building (Leca gravel). The price is competitive and the product’s eco-friendliness provides an advantage. There is room for improvement in brand awareness. Both are building product companies whose operations are based on modern factories. Foamit’s gross margin is 50%, while LapWall’s is 35%. Isn’t that 50% gross margin really good for a building product company?   I’m mainly trying to figure out whether those 2028 targets for the company are realistic or not. Currently, in summary, Foamit appears as follows in my own thoughts:  Good product and good gross margin Plenty of growth drivers Valuation is somewhat tight(?) in the short term, but the horizon is several years away. The transition from Partnera to a building product company muddies the picture.

Joint venture to Europe, foothold 50% stake in Reiling’s subsidiary Veriso, current revenue approx. 6m EUR  Inside Information: Foamit and Reiling signed a letter of intent for a joint venture project in Germany Foamit Oyj (formerly Partnera Oyj) has today signed a letter of intent with the German company Reiling GmbH & Co. KG for cooperation in the foam glass business. According to the letter of intent, Foamit will negotiate the acquisition of a majority stake in Veriso GmbH & Co. KG, a foam glass manufacturing subsidiary of the German circular economy company Reiling. Foamit’s goal is to acquire an ownership stake of over 50 percent in the joint venture project with an initial investment of approximately 3 million euros, with Reiling remaining the second owner of the joint venture. The joint venture project includes Veriso and its two existing foam glass factories, as well as a new foam glass factory to be built. The parties aim to sign the agreements related to the implementation of the joint venture project by the end of March 2026. The aim of the cooperation is to develop and expand Veriso’s current production facilities for foam glass and to build a completely new foam glass factory in Germany. The joint venture project creates a fast expansion opportunity for Foamit into the Central European markets. Veriso’s current revenue is approximately 6 million euros, and it manufactures foam glass in two production facilities, with a production capacity of approximately 100,000 cubic meters. The plan is to develop and expand Veriso’s existing production facilities, as well as build a completely new factory on an existing plot of land. Foamit and Reiling are also exploring opportunities to increase cooperation in the recycling business in the Nordic countries. From Germany to other parts of Central Europe The acquisition of Veriso and the increase in production capacity create a good foundation for Foamit to quickly open markets in Germany. In addition, the goal is to export foam glass from Germany to other parts of Central Europe. Low-emission foam glass produced from recycled materials offers an environmentally friendly alternative for various infrastructure and building construction projects compared to currently commonly used products, e.g., plastic-based products. “Cooperation with Reiling offers Foamit an excellent opportunity to increase revenue in the coming years. The joint venture project in Germany, in addition to the already implemented commissioning of new capacity in Norway and the investment in increasing the production capacity of small foam glass fractions in Finland, will promote the achievement of our growth targets,” states Erja Sankari, CEO of Foamit. “Foamit has been a long-term partner for Reiling, and our mutual trust is a good basis for the new cooperation project. For us, foam glass production has been one of the areas of our extensive recycling business. I believe Foamit will bring much-needed strong technological expertise and the ability to further develop operations to Veriso,” says Tom Reiling, CEO of Reiling. Reiling GmbH & Co. KG is a German family business and recycling expert, primarily serving industrial, commercial, and municipal sector customers. Reiling is one of the market leaders in glass recycling in Europe and also recycles plastic bottles, solar panels, and timber, among other things. Reiling has 12 production facilities in Germany and several units in the Netherlands, Denmark, Sweden, and Poland. Its revenue in 2024 was approximately 220 million euros, and it employed 690 people.                    News Powered by Cision              Sisäpiiritieto: Foamit ja Reiling allekirjoittivat aiesopimuksen...    Foamit Oyj          10.10.2025 klo 13.29          Yhtiötiedote, sisäpiiritieto

Hi, good questions! Is the city as an owner similar to the state? In my opinion, the City of Oulu is a different kind of owner in this context compared to the state. State holdings are fundamentally strategic: the state’s interest is to keep a Finnish airline and a Finnish energy company in Finnish ownership. This involves interests other than purely financial ones. Furthermore, Oulu has classified its ownership in Foamit as non-strategic. Thus, they are ready to divest when the price is right, and the ownership is primarily viewed from the perspective of creating shareholder value. Of course, this owner also has other interests perhaps higher on the priority list than another type of owner (regional vitality, environmental factors). This is supported by Foamit’s strategy, which focuses on the circular economy, as well as the ownership in the Nordic Option private equity fund, which describes itself as follows:  “We are a private equity fund in the form of a limited company, focusing our investments on small and medium-sized growth-stage companies primarily in the Northern Finland region. We look for investment targets that have good proven growth and significant growth prospects.”*  We forecast depreciation to increase to over EUR 5 million following investments made in the 2025 financial year. In our 2028 forecasts, a revenue of EUR 56 million and an EBITDA margin of 16% would translate into an operating profit/EBITA margin of approximately 7%. We expect the investment pace to be more moderate than this (just over EUR 4 million annually). Thus, we expect the cash flow to be slightly better than what the operating profit (EBIT) or EBITA would suggest. This could favor using EBITDA as a financial target. I cannot provide more detailed background on the company’s choice regarding this, but let’s add it to the list of questions. A gross margin of 50% is a good level for a construction products company. LapWall’s gross margin has been around 40% in recent years. LapWall, on the other hand, closes the gap with a low other cost structure and a significantly smaller balance sheet, which has lifted LapWall’s return on capital to a different level compared to Foamit (2025 LapWall ROIC over 15% on average in recent years and Foamit under 5%, although the normalized level is somewhat difficult to calculate due to structural changes). Generally regarding the realism of the financial targets: organically, I don’t see the company reaching close to EUR 100 million, meaning achieving the revenue target will require acquisitions. I see no direct obstacles to margin improvement, but visibility into positive margin drivers is still quite limited for now.

Tommi interviewed Foamit’s new CEO Erja Sankari.                    Inderes              Foamit: Uusi yhtiö ja toimitusjohtaja - Inderes    Aika: 11.12.2025 klo 14.44 Partneran liiketoiminta on keskittynyt jatkossa vaahtolasin valmistamiseen ja yhtiön nimi muuttui Foamitiksi. Yhtiöllä aloitti myös uusi toimitusjohtaja Erja Sankari. Videolla käydään läpi mm. Foamitin strategiaa.                             Topics: 00:00 Introduction  01:05 New CEO  07:38 Partnera’s transformation into Foamit  13:39 Foam glass  17:58 Growth strategy  26:52 When is foam glass needed?

Foamit’s CEO Erja Sankari spoke about her company at the Investor 2025 event                    Inderes              Foamit sijoituskohteena | Sijoittaja 2025 - Inderes    Aika: 28.11.2025 klo 11.18 Foamitin toimitusjohtaja Erja Sankari kertoo yhtiön liiketoiminnasta Sijoittaja 2025 -tapahtumassa.

Here are Tommi’s comments as Foamit transitions from national FAS accounting to international IFRS reporting.  Foamit Oyj’s transition to international IFRS reporting is a strategically justified step that supports the company’s internationalization goals and improves the transparency of investor communications. While the change technically improves reported earnings figures, it does not significantly affect the company’s cash flow or the basis of its valuation. We will update our forecasts to IFRS format no later than in connection with the H2’25 preview commentary.                   Inderes              Foamit siirtyy kansainvälisten kirjanpitokäytäntöjen piiriin - Inderes    Muutos kohentaa raportoituja tuloslukuja vain teknisellä tasolla

Oulun Kaupunki

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Foamit

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