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Research

Riskit painavat vaakakupissa liikaa

By Joni GrönqvistAnalyst
Solteq
Download report (PDF)This report is only available for Inderes Premium customers.

Q1 ja lyhyen aikavälin näkymät olivat odotuksia heikommat. Näin tuloskäänteen ajoitukseen ja voimakkuuteen sekä sitä kautta rahoituksen uudelleenjärjestelyyn liittyy aikaisempaa suurempaa epävarmuutta. Laskimme ennusteita, jotka ovat nyt ohjeistuksen alalaidalla vuodelle 2024. Lisäksi rahoituskustannukset syövät ennustetun selvän operatiivisen käänteen hedelmät lähivuosina. Ennusteillamme osakkeen arvostuskuva on hyvin haastava (2026e P/E 12x) ja positiivisia ajureita on vaikea nähdä osakkeelle lyhyellä aikavälillä.

Solteq is an IT consulting company. The company specializes in ERP - Enterprise Resource Planning. Other services offered are related to financial management and inventory management. The customers consist of small and medium-sized business customers operating in the retail and hospitality industries. The operations are conducted on a global level, mainly in Europe, North America and Asia.

Read more on company page

Key Estimate Figures01.05.2024

202324e25e
Revenue57.754.355.9
growth-%-15.7 %-5.8 %3.0 %
EBIT (adj.)-3.91.33.5
EBIT-% (adj.)-6.7 %2.4 %6.3 %
EPS (adj.)-0.29-0.050.02
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.neg.16.2
EV/EBITDA4.58.55.5

Forum discussions

Aarne was presenting his company at the IT Services Evening Topics: (00:00) Introduction (00:21) AI (06:44) Guidance (07:23) Two different markets...
5/27/2026, 3:22 AM
by Sijoittaja-alokas
4
I’d bet that none of these 3 options will happen. Selling a part of the company might be possible, but not all of it. To the (presumably poor...
4/30/2026, 1:21 PM
by Zen65
5
When steering a company, vision, actions, and results are what count. Based on Solteq’s (track record) interim figures, all of these are missing...
4/30/2026, 8:27 AM
6
In my opinion, Aktan has one of the best deliveries among listed company CEOs, perhaps even the best, and he’s clearly a smart guy whose interviews...
4/30/2026, 7:14 AM
by Seinäkadun Keisari
5
Solteq is a Titanic with holes in its bottom (unprofitability/customer churn), and a heavy anchor (massive debt load) pulling it toward the ...
4/30/2026, 7:01 AM
by Nordman09
3
Here’s Joni’s company report on Solteq after Q1 We are lowering our recommendation for Solteq shares to sell (previously reduce) and our target...
4/30/2026, 6:29 AM
by Sijoittaja-alokas
3
As a shareholder, I appreciate value creation, not flowery phrases. Solteq’s journey has indeed been painful to watch over the last few years...
4/30/2026, 5:03 AM
by Tunturisusi
5