Privacy preferences
Inderes uses cookies to provide a better user experience and a personalised service. By consenting to the use of cookies, we can develop an even better service and will be able to provide content that is interesting to you.
  • Forum
  • Stock Markets
    • MarketsLive prices, indices, and market performance
    • Stock CalendarUpcoming earnings, listings, and corporate events
    • Dividends CalendarFuture and past dividends
  • Companies
    • CompaniesBrowse and filter the full list of listed companies
    • DiscoveryInspiration for your next investment
    • IPOsNew listings and upcoming public offerings
    • AGM InvitationsAnnual general meeting dates and shareholder info
  • Stock Research
    • ResearchExpert stock analysis and recommendations
    • ArticlesNews, insights, and market commentary
    • inderesTVVideo hub for stock research, analysis, and expert commentary
    • TranscriptsFull text records of earnings calls and investor meetings
    • Stock ComparisonCompare financials and performance across multiple stocks
    • Earnings SeasonCompare EPS estimates to reported results
    • Short SellingSee which listed companies have disclosed short interest
    • Compound Interest CalculatorSee how your savings grow with the power of compound interest.
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • X (Twitter)
Get in touch
  • info@hcandersencapital.dk
  • Bredgade 23B, 2. sal
    1260 København K
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer

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.

Wulff Group

4.35 EUR-1.36 %21.10, 10.53
4,066 following

WUF1V

NASDAQ Helsinki

Industrial Goods & Services

Industrials

Overview
Financials & Estimates
Dividend
Short Selling
Investor views
Compare
-1.36 %
-3.33 %
+4.07 %
+31.82 %
+9.30 %
+37.22 %
+113.24 %
-12.12 %
-27.50 %

Wulff Group is a retailer of office supplies. The range is wide and includes, for example, inventory, IT solutions, first aid equipment, and various ergonomic solutions. In addition, lighting and products for construction sites are also offered. The company operates throughout the international market, with the largest presence in the Nordic market. The head office is located in Vantaa.

Read more
Market cap
30.05M EUR
Turnover
3.7K EUR
P/E (adj.) (26e)
9.9
EV/EBIT (adj.) (26e)
7.48
P/B (26e)
1.11
EV/S (26e)
0.31
Dividend yield-% (26e)
4.14 %
Coverage
Recommendation
Accumulate
Target price
5.00 EUR
Updated
20.10.2026
Disclaimer
Arttu Heikura
Arttu Heikura

Analyst

Latest research

Latest analysis report

Released: 20.10.2026

Latest extensive report

Released: 21.02.2026

Revenue and EBIT-%
EPS and dividend
Financial calendar
Risk
Business risk
Valuation risk
Low
High
All
Research
Press releases
ShowingAll content types

Forum discussions
If one tries to use this earnings beat to map out guidelines for Q4 as well, we just beat last year’s comparable operating profit by as much as €0.6m (compared to €0.5m in Q2), so it shouldn’t be too much to expect an improvement of €0.3–0.4m in Q4 too. In that case, the comparable...
yesterday
by Karhu Hylje
7
Wulff exceeded expectations in terms of comparable operating profit, but fell slightly short on revenue: Inderes Wulff-Yhtiöt Oyj:n osavuosikatsaus tammi—syyskuu 2026: Wulffin vauhdikas... 19.10.2026 09:30:09 EEST | Wulff-Yhtiöt Oyj | Osavuosikatsaus (Q1 and Q3)Tämä on tiivistelm...
10/19/2026, 6:48 AM
by Karhu Hylje
7
Agreed that regarding operating profit, they’re a notch too cautious for Q4/26. My own current forecast is 1.6m (1.1m from products, 0.5m from services). In products as well, Scandinavia has continued to grow and Finland has remained flat (the brick-and-mortar store in Lahti was ...
yesterday
by BareBone
3
To my eye, the forecasts for comparable operating profit look conservative, especially for Q4. On the services side, despite the growth, operating profit would remain at the same level as last year. However, they have discontinued unprofitable businesses there, such as Doctors, and...
yesterday
by Karhu Hylje
3
When you look at the share price and the numbers over a slightly longer period, value has definitely been created here. On top of the share price appreciation, strong dividends have also been paid: Income statement figures from Inderes. This year, comparable operating profit will...
yesterday
by Karhu Hylje
2
Here is the company report from Arttu after Q3 Wulff’s Q3 results clearly exceeded our expectations, driven by improved efficiency in the product business and higher service volumes. We raised our earnings forecasts by around 10%, and we expect strong earnings growth to account for...
yesterday
by Sijoittaja-alokas
1
One certainly shouldn’t expect any massive multiples. Still, Wulff’s revenue, earnings, and market cap have all more than doubled compared to, say, the 2019 figures. In its comprehensive report, Inderes outlines that an acceptable valuation multiple for Wulff right now could be a...
yesterday
by Karhu Hylje
1
Read more on our forum
Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
15.2
2027

Annual report '26

1.4
2027

General meeting '27

26.4
2027

Interim report Q1'27

Wulff Q3'26: Væksthistorien bevæger sig i den rigtige retning
Research20.10.2026, 06.10 by
Arttu Heikura

Wulff Q3'26: Væksthistorien bevæger sig i den rigtige retning

Wulffs regnskabsmeddelelse for Q3 overgik vores forventninger klart takket være en mere effektiv produktforretning og øgede volumener inden for tjenester.

Wulff Group
Regulatory press release19.10.2026, 08.30

Wulff Group Plc's Interim Report January—September 2026: Wulff’s rapid growth continued and comparable operating profit rose to a new record

Wulff Group
Wulff Group Q3'26 preview: Service-drevet vækst og resultatforbedring i vente
Analyst Comment16.10.2026, 06.35 by
Arttu Heikura

Wulff Group Q3'26 preview: Service-drevet vækst og resultatforbedring i vente

Vi venter, at resultatet er forbedret målt i EUR, men vi vurderer, at den relative rentabilitet er uændret i forhold til sammenligningsperioden.

Wulff Group

Join Inderes community

Don't miss out - create an account and get all the possible benefits

Inderes account
Followings and notifications on followed companies
Analyst comments and recommendations
Stock comparison tool & other popular tools
Create account
Analyst Comment02.10.2026, 10.12 by
Arttu Heikura

Væksten i HR-branchen fortsatte i august

Omsætningen for de 20 største virksomheder i HR-branchen voksede med 5 % i august.

EezyWulff Group
Regulatory press release21.09.2026, 14.00

Wulff Group Plc’s financial reporting and Annual General Meeting 2027

Wulff Group
Analyst Comment03.09.2026, 07.27 by
Petri Gostowski

Bemandingsbranchen i god gænge i juli

Ifølge Omsætningsundersøgelsen for HR-branchen var de 20 største virksomheders omsætning i juli cirka 125 MEUR, hvilket svarer til en vækst på 5 % i forhold til samme tidspunkt sidste år.

EezyWulff Group
Væksten i vikarbureau-branchen accelererede i juni
Analyst Comment12.08.2026, 06.30 by
Petri Gostowski

Væksten i vikarbureau-branchen accelererede i juni

Ifølge omsætningsundersøgelsen for HR-branchen var omsætningen for de 20 største virksomheder i maj cirka 132 MEUR, hvilket svarer til en vækst på knap 6 % sammenlignet med samme periode sidste år.

EezyWulff Group
Wulff Q2'26: Omdrejninger i indtjeningsvækstmotoren
Research17.07.2026, 07.42 by
Arttu Heikura

Wulff Q2'26: Omdrejninger i indtjeningsvækstmotoren

Selskabet forbedrede sin regnskabsmeddelelse betydeligt, drevet af begge segmenter.

Wulff Group
Regulatory press release16.07.2026, 08.30

Wulff Group Plc's Half-Year Financial Report January—June 2026: Record net sales and impressive earnings improvement for Wulff

Wulff Group
Wulff Q2'26 preview: Resultatforbedringen fortsætter, men afkastforventningen er indsnævret
Research15.07.2026, 06.10 by
Arttu Heikura

Wulff Q2'26 preview: Resultatforbedringen fortsætter, men afkastforventningen er indsnævret

Vi forventer, at selskabet har fortsat sin servicedrevne omsætningsvækst og forbedret sin indtjening.

Wulff Group
Asikainen vender tilbage som leder af Wulff
Analyst Comment17.06.2026, 06.50 by
Rauli Juva

Asikainen vender tilbage som leder af Wulff

Sami Asikainen udnævnt til administrerende direktør – hurtig udnævnelse fjerner usikkerhed og sikrer strategisk kontinuitet.

Wulff Group
Regulatory press release16.06.2026, 09.30

Inside information: Sami Asikainen appointed as Wulff Group Plc’s new CEO

Wulff Group
Regulatory press release09.06.2026, 15.30

Wulff Group Plc: Notification according to Chapter 9, Section 10 of the Securities Market Act

Wulff Group
Analyst Comment02.06.2026, 07.04 by
Petri Gostowski

Personaleydelsesbranchen fortsatte med en lille vækst i april

Ifølge en omsætningsundersøgelse inden for HR-branchen var omsætningen for de 20 største virksomheder i april cirka 117 MEUR, hvilket svarer til en vækst på knap 1 % sammenlignet med samme periode sidste år.

EezyWulff Group
Wulffs vikarvirksomhed internationaliseres til Rumænien
Analyst Comment29.05.2026, 09.07 by
Arttu Heikura

Wulffs vikarvirksomhed internationaliseres til Rumænien

Ekspansionen til Rumænien forlænger vækststien for selskabets vikarvirksomhed.

Wulff Group
Analyst Comment25.05.2026, 06.30 by
Rauli Juva

Wulff: CEO Rahkonen forlader selskabet

Administrerende direktør Elina Rahkonen fratræder sin stilling i august.

Wulff Group
Regulatory press release22.05.2026, 14.00

Inside information: Wulff Group Plc’s CEO Elina Rahkonen will leave the company

Wulff Group
Wulff Q1'26: Indtjeningsvækst opretholder et attraktivt risiko/afkast-forhold
Research28.04.2026, 06.10 by
Arttu Heikura

Wulff Q1'26: Indtjeningsvækst opretholder et attraktivt risiko/afkast-forhold

Wulff mangedoblede sit resultat i 1. kvartal.

Wulff Group
Regulatory press release27.04.2026, 08.30

Wulff Group Plc's Interim Report January—March 2026: Wulff’s net sales and operating profit continued to grow strongly

Wulff Group
Wulff Q1'26 preview: Vi estimerer, at resultatforbedringen er fortsat
Research23.04.2026, 06.10 by
Arttu Heikura

Wulff Q1'26 preview: Vi estimerer, at resultatforbedringen er fortsat

Vi forventer, at den servicedrevne vækst, ændringen i salgsfordelingen og tilpasningsforanstaltningerne har forbedret koncernens regnskabsmeddelelse.

Wulff Group