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
    }
  }
}


growth-measures-depress-cash-flows-in-coming-years

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Pauli Lohi

Summa Defence is a Finnish defence and security technology group. The group provides strategic support and resources to companies in the sector, focusing on technologies related to situational awareness, mobility and protection, which benefit both civilian, security and defence sectors. The goal is to improve Finland's and Europe's overall security, security of supply and crisis management capabilities. Summa Defence is headquartered in Helsinki.

Come on now, this is exactly why it’s such a mess—because people are involved and they’re still a bit semi-professional. The best part is that these guys came up with this in a sauna somewhere, and the idea is actually good. It’s just bound to be like this at the start. If they can bring any sense to this madness (never stop the madness, we’re going again soon), it’s going to be an absolute mega multibagger. Before that, though, we still have to slide a bit, and after that, everything needs to start going perfectly. A lot of “what-ifs,” but I don’t think this is a total scam. Just bungling.

This is what I don’t get about these things; he should have just made up some US general’s name for it. That would have been harder to figure out. Doesn’t change the fact, of course, that I hopped on at €1.5 with a couple of grand and dumped it at 1.8. This is starting to be like Tesla’s stock. It’s not based on anything, but some fool will buy it.

The mess continues:                   Tärkeimmät talousuutiset | Kauppalehti – 7 Jan 26              Epäselvyydet Summa Defencen ympärillä jatkuvat – Pörssiyhtiön avainhenkilöt...    Suomalainen puolustus- ja turvallisuuskonserni ilmoitti puhemiehekseen talousjohtajan, jonka nimeä ei löydy edes yhtiön nettisivuilta.                             »Kauppalehti asked interim CEO Timo Huttunen to explain why it has been decided to decrease the frequency of financial reporting. Huttunen delegated the responsibility for speaking to the company’s outsourced CFO, Teppo Sipilä. (…) Teppo Sipilä, named as the company’s spokesperson, did not respond to Kauppalehti’s contact requests. His contact information – or even his name – is not mentioned on Summa’s website.» »The role of an outsourced CFO as the spokesperson for Summa Defence raised enough questions that Kauppalehti asked the Chairman of the Board, Arto Räty, whether Teppo Sipilä is a member of the listed company’s management team. “He is,” Räty replied. Timo Huttunen, who was reached later, has a different view on the matter: “Sipilä is not a member of the company’s management team and is not a responsible person, but works at Summa Defence in a consulting role; this includes attending various meetings as an invitee when necessary.” It is very exceptional that the Chairman and the CEO of a listed company disagree on who belongs to the management team.» »In December, Summa Defence announced that it had rehired Rear Admiral (ret.) Juha Vauhkonen, who had already left the company once, as its Chief Strategy Officer. (…) When asked, Vauhkonen commented to Kauppalehti saying that he never had an extension to his contract with Summa. (…) From the outside, it appears that Summa Defence has given shareholders false information. “I don’t want to get into a ‘word against word’ competition. We have a non-disclosure agreement with him. And I would remind you that his position was not at the management team or board level. We do not have an obligation to provide information on these matters as such,” Huttunen says.» »Rickard Sandell, senior lawyer at the Financial Supervisory Authority (FIN-FSA), does not comment on Summa Defence’s communication. On a general level, however, he reminds that the first chapter of the Securities Markets Act prohibits the provision of false or misleading information. In addition, the Criminal Code mentions an information offense. A company or its key personnel may be guilty of this if they intentionally or through gross negligence provide false or misleading information.» »According to Summa Defence’s management, Juha Vauhkonen’s appointment was not significant information. According to Summa Defence, the company’s Chief Strategy Officer is not a member of the management team. There are now two different pieces of information regarding Teppo Sipilä’s status.» »Sandell comments on this matter as well on a general level. “Under the rules of the Helsinki Stock Exchange, companies should disclose changes in the company’s senior management. A CFO is considered such a person belonging to the senior management under the exchange’s rules. Nasdaq Helsinki monitors compliance with the exchange’s rules.”»

Whatever you want to call them. You are right that defense equipment hasn’t been mentioned in the company’s releases now that I’ve looked at them; instead, the company refers to an “order.” To be honest, I didn’t bother wading through previous releases while writing my post. It must, however, be about some goods produced by the group’s subsidiaries, and everyone is free to guess what this contract under negotiation concerns, as no better information seems to have been provided to investors. This was a fairly irrelevant point in my message anyway. The same applies to those drones, as no one has any more information about them than what Summa itself has disclosed, and in this case too, the quantities and the resulting transaction value can only be guessed at.

Doesn’t giving up on interim reports also conflict a bit with the goal of aiming for the main list..? Just a little. Then again, Summa wouldn’t have been accepted there anyway with this track record.

Where has it been reported that the 30 million “maybe deal” would be defense equipment – they could be anything, like ferries to Estonia… of course, if you put a soldier standing on the deck, even that becomes a dual-use product. Who said that those drones were sold there and how many test units were sent there? You’d think that sample batch resulted in nothing but a loss on the bottom line.

I was also puzzled by that share price reaction. It’s unlikely to be explained by Summa’s announcement today that they are discontinuing the publication of Q1 and Q3 interim reports; instead, they will only publish the full-year financial statement and the half-year report in accordance with minimum requirements. This outfit’s operations are strange enough to only raise suspicions. In the future, investors will only receive information on matters like the cash position twice a year, which is a fairly significant issue, especially for this company. Once the previously announced financing is drawn, Summa may still show cash on hand in the 2025 financial statement. However, the communications regarding that financing agreement were quite murky, including the trading halts, as some shadows of doubt remained as to whether the delay of the 30 million defense equipment deal and the securing of the financing agreement were the real reasons for the halt, or if there was something else behind it that wasn’t disclosed. Similarly, Summa’s overall financial development remains behind a thicker smokescreen, which for the upcoming financial year will only clear in the half-year report to be published on August 27, 2026. It has been reported that this previously delayed large deal is likely to take place in H1. To put on the tinfoil hat even tighter, we won’t get any information shortly after the end of Q1 regarding whether the money from the drones delivered to Ukraine before Christmas has actually hit the account. It is a slight red flag that reporting practices are being changed in a situation where there are legitimate questions about the business and communications, and when the executive revolving door has already been spinning frequently.

Summa Defence

Meriaura Group operates in marine logistics and renewable energy and both business areas are linked to the reduction of carbon dioxide emissions and the transition in target markets through, e.g., EU emissions trading. 

<p>Meriaura Group operates in marine logistics and renewable energy and both business areas are linked to the reduction of carbon dioxide emissions and the transition in target markets through, e.g., EU emissions trading. The Renewable Energy businesses benefit from the Group&#x2019;s financial resources, but despite the strengthened growth, there is still significant uncertainty surrounding the earnings turnaround. In Marine Logistics, significant investments in low-emission cargo capacity will depress cash flows in the coming years, but enable long-term growth.</p>

Growth measures depress cash flows in coming years

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