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LapWall: Positive drivers may need time to mature

LAPWALLResearch01.11.2023, 13.06
Antti ViljakainenHead of Research
Discuss
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The overall picture of the Q3 report published yesterday by LapWall was disappointing as new orders remained low. Due to the Q3 numbers and the prolonged weak market outlook for (housing) construction, we also cut our forecasts for LapWall clearly, although we still expect the company to gain market shares in the current industry turbulence and be in a good position when the next upward cycle starts.

LapWall operates in the building products industry with several factories. The company manufactures wooden wall and ceiling elements in factory conditions for construction companies. The product range includes several standard products that are delivered and installed by the customer. The company's market area is Finland. LapWall was founded in 2011 and its headquarters are located in Pyhäntä, Finland.

Read more on company page

Key Estimate Figures31.10.2023

202223e24e
Revenue52.541.045.0
growth-%8.6 %-21.8 %9.5 %
EBIT (adj.)8.34.15.1
EBIT-% (adj.)15.8 %10.1 %11.3 %
EPS (adj.)0.420.230.27
Dividend0.190.120.13
Dividend %5.3 %2.7 %2.9 %
P/E (adj.)8.619.716.4
EV/EBITDA4.811.79.7

Forum discussions

Here are Tommi’s comments on the Court of Appeal overturning the District Court’s interlocutory judgment, which ordered LapWall to pay nearly...
46 minutes ago
by Sijoittaja-alokas
3
Pekkarinen’s comment regarding data center projects from the local newspaper: “We have the products, expertise, production capacity, and a proven...
yesterday
by Delete
15
En ole specialisti, mutta tuottaako logistiikka ongelmia kun rakennetaan jonnekkin muonioon
9/29/2026, 8:22 AM
by Esaesa
0
In theory, the capacity should be more than just those few projects a year, considering how the company markets itself. See the screenshot. ...
9/29/2026, 6:06 AM
by Kroisos Pennonen
14
Erittäin hyvää pohdintaa. Muutama oma kommentti/ajatus. Kreate ym. ovat jo hyötyneet infrarakentamisen kasvusta, asuntorakentaminen on yhä syv...
9/29/2026, 4:17 AM
by Janne
6
Quite a good bull painting. Hopefully, you’re on the right track. Two minor counter-arguments come to mind, written quickly and based on gut...
9/28/2026, 9:09 PM
23
Over the past few days, I’ve been pondering LapWall, which has a small couple of percent stake in my own portfolio. We haven’t heard any announcements...
9/28/2026, 7:44 PM
28