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.

Well, it would take miracles for this to be worth investing in, but it’s easy to follow.

The balance sheet total is practically zero, and it cannot be defended in any way. Too bad.

It still is; in 2024, many suppliers indeed had their accounts frozen, and apparently, they still can’t really get their money from there. Not everything shows up in customer information; several small businesses wait politely and for a long time before resorting to collection.

This is not related to Summa in any way, but I think it describes well the sentiments in the more traditional defense industry.                   Tekniikka&Talous – 1 Dec 25              364 % kasvaneen suomalaisen luotiliiviyhtiön toimitusjohtaja ihmettelee...    CPE Production on kasvattanut myynnin yli nelinkertaiseksi neljässä vuodessa. Nyt yhtiö varautuu jo aikaan, kun puolustusbudjetteja leikataan.                             Historical experiences strongly guide us to consider how much should be invested in production when defense budget cuts are “in any case” ahead in a time window relevant for the investment. The idea that Summa would somehow be among the few winners in this market without a clear roadmap, investment plan, or even a vision for the company’s future – that idea, to put it mildly, seems to deviate from the mainstream. If the situation is starting to be that insiders are already making an exit from this, then it certainly gives a bleak picture of the past year and a half’s work. But this is if; I have not gone through the owner lists myself, I mainly refer to the information above.

Exactly, Summa is not a sum at the moment. And anyway, I said the idea is beautiful, you know, that good old “Let’s join forces!” nostalgia. Reality is far from this, but as I said, it’s possible that some merger will happen at some point.  Not at all. The current products are not interesting, but let’s calmly see what comes of the drone. It’s probably better to do it properly than to rush. If it even exists. But it’s possible that something will be done someday. As I said, quite a few stars need to align. There are a couple of stars already, that’s why I’m here. Summa is currently about a pile of .  Yeah, but think about this with common sense. They specifically have companies with a history of something completely different. Entrepreneurs see that their operations can be transformed into something else → practically a completely new company. If Valio started making medicines next week, wouldn’t that be a new business? I know it’s not a start-up in the sense of being newly founded, and I appreciate you pointing that out so no one gets the wrong idea. But it’s comparable when starting from scratch – and own capital and contributions are at stake.  Correct me if I’m wrong, but isn’t Summa practically the parent company of all of these? What prevents driving the subsidiaries into bankruptcy, Summa would own the bankruptcy estate?  But indeed, I’m in no hurry with this. I’m just watching for signs in the sky and waiting patiently. I’ll follow when the gods command me to act, if it’s meant to be.

What more is there to it than grouping a bunch of mainly unprofitable companies into the same cluster? No synergies will arise from these, and a challenging business will become even more challenging due to group costs.  How does that relate to Summa’s products? Armament is not implemented by buying warehouses full of Western multi-purpose machines. Of course, the Finnish Defence Forces (PV) might continue to buy them, as they have done so far. But the PV buys a lot of everything from socks to firewood. And often the procurements are tendered in such a way that price is a key factor. Not even drones are bought in large quantities for Western warehouses. But talking about them is theoretical, because Summa’s drone production is also theoretical.  It is not. Summa consists of companies, many of which have a very long history. Their business quality can therefore be seen over a long period. Lännen Tractors is a bankrupt company. Uudenkaupungin työvene produces a few percent operating profit, but at the same time has large investment debts. The share of other companies is much smaller. For example, IntLog, which seems high-quality, had a turnover of a couple of million and an operating profit of a couple of hundred thousand euros last year.

I’m going to gamble on Summa at some point (though one can’t know for sure about the future). I understand the scam argument, and I mean, they’ve really messed things up there, but I don’t believe it’s a complete scam. The idea is beautiful: we are stronger together. The fact is that there’s a desperate shortage in the defense industry, as it’s probably been run down for 30 years, and now we’re supposed to conjure something out of nothing. Well, this is exactly it. The vision is excellent, but the journey is hellishly long. Internal collaboration/transformation within the company is quite possible, and something can probably be produced. This is a complete startup, after all. Profits are probably at least 8 years away, even in theory. But someone has to develop this modern branch of weaponry. Whether it’s Summa, remains to be seen, but the good thing about these Summas and others is that you always get to watch from the sidelines when others are having a hard time, and then when it’s no longer possible, no matter what happens, and if things have progressed in the right direction then… Oh man, those are sweet spots. But a hell of a lot of things still need to happen before the stars align. But we’ll follow it.

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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