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Modelportefølje: Lydisolerede kvaliteter til porteføljen

FRAMERYResearch05.11.2026, 09.01
Juha Kinnunen, Atte Riikola, Rauli Juva
Discuss

Automatisk oversættelse: Oprindeligt udgivet på finsk 5.11.2026, 08.01 GMT. Giv feedback her.

Vi har købt Framery som en ny position til Modelporteføljen med en vægt på 6 %. Framery er global markedsleder inden for lydisolerede arbejdsrum. Selskabets investeringsprofil forener på en for Helsinki-børsen sjælden måde vækst, meget høj rentabilitet og rigelig udlodning. Framery har været på Modelporteføljens radar siden Børsnoteringen, men købslysten blev i første omgang begrænset af selskabets kortfristet aftagende væksttakt. Q3-regnskabet mindskede vores bekymringer i denne henseende, da medvinden i Nordamerika accelererede væksten hurtigere end forventet. Hos Framery tilbyder alene vores forventede indtjeningsvækst og udbytte allerede et godt afkastpotentiale, og derudover kan der på længere sigt være en vis opjusteringsmulighed i aktiens moderate værdiansættelse.

Framery Group creates solutions for open office environments, hybrid working and space optimization. The company offers a range of office pods designed to provide a soundproof and undisturbed space for meetings, work and privacy in noisy open office environments. The office pods include an integrated office solution, with full access available through the Framery Plus subscription. Framery’s headquarters are located in Tampere, Finland, where all assembly of the company’s pods takes place.

Read more on company page

Key Estimate Figures03.11

202526e27e
Revenue222.1223.1239.3
growth-%37.0 %0.4 %7.3 %
EBIT (adj.)50.550.653.8
EBIT-% (adj.)22.7 %22.7 %22.5 %
EPS (adj.)0.380.480.51
Dividend0.230.400.41
Dividend %2.8 %5.7 %5.7 %
P/E (adj.)22.115.014.0
EV/EBITDA15.510.29.8

Forum discussions

Thanks Alokas! What an earnings day. The difficulty of forecasting really stands out when a company sees one market area grow by 63% adjusted...
11/3/2026, 7:30 AM
by Thomas Westerholm
17
Here is a company report from Thomas following Framery’s Q3 results Framery’s Q3 report dispelled concerns surrounding the company’s previously...
11/3/2026, 6:54 AM
by Sijoittaja-alokas
4
Framery’s CEO Samu Hällfors was interviewed by Thomas following Q3 Topics: (00:00) Introduction (00:12) ”Strong quarter” (01:19) Revenue growth...
11/2/2026, 5:38 PM
by Sijoittaja-alokas
5
In the webcast, in response to audience questions about the share buybacks, they stated that they paused the purchases during the silent period...
11/2/2026, 11:31 AM
by Montau
5
Strange thing indeed. Debt has nevertheless been paid down by 7 million, from 69.4 → 62.2. Did Framery have some very expensive debt that made...
11/2/2026, 7:56 AM
by P-H Compton
7
Inderes Framery Group Osavuosikatsaus Tammikuu-Syyskuu 2026: Kannattava kasvu jatkui... Framery Group Oyj | Pörssitiedote | 02.11.2026 klo 09...
11/2/2026, 7:00 AM
by Montau
17
Has Framery pulled a so-called “Evolution” and suspended its share buybacks a month before releasing the Q3 results? And thus, poor results ...
11/1/2026, 1:00 PM
by Montau
14