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
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      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
    }
  }
}


tokmanni-integration-underway-finland-hiccuping

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Arttu Heikura

Tokmanni Group is a variety discount retailer in the Nordics. The group has stores in Finland, Sweden and Denmark under the brand names Tokmanni, Dollarstore, Big Dollar, Click Shoes and Miny. In addition, Tokmanni has online stores. Tokmanni's headquarter and logistics centres are located in Mäntsälä, Finland. Dollarstore is headquartered in Kista, Stockholm with a central warehouse in Örebro. The group own a procurement company located in Shanghai together with a Norwegian discount store chain Europris.

A story about Swedish discount stores was found on the Kauppalehti forum. Aftonbladet had conducted a comparison and concluded that Dollarstore is the cheapest. The Aftonbladet article was also found, but it was behind a paywall.                   Marcus Oscarsson – 27 Jan 26              Nu står det klart: en lågpriskedja “överlägset” billigast    Skiljer över hundra kronor…

The appointment seems like a temporary and internal arrangement rather than a selection based on procurement expertise. In the current market situation, the role of Purchasing and Sourcing Director is critical for Tokmanni and requires at least the same level of expertise and experience as the predecessor. One would expect to find a person for such a role who has a clear and deep background in managing procurement and purchasing operations. While internal company experience has its advantages, the track record of the strategy and development function hasn’t been very convincing (yet?), at least from the market’s perspective. Clear focus is needed on exactly these types of decisions if they want to see a turnaround in performance.

I suppose this is just a temporary kicking of the can down the road. The new CEO will get to influence the selection of the new head of procurement and purchasing right after the break.

Even executive appointments don’t seem to be attracting any attention. But:                   Tärkeimmät talousuutiset | Kauppalehti – 30 Jan 26              Janne Pihkala nousee Tokmannin johtoryhmään    Janne Pihkala on nimitetty Tokmannin hankinta- ja ostojohtajaksi.                             ”Janne Pihkala has been appointed as the Sourcing and Purchasing Director of the Tokmanni Group and a member of the Executive Management Team. He will start in his position on February 1, 2026. Pihkala will replace the current Sourcing and Purchasing Director Juha Valtonen, who is leaving the company as previously announced. Janne Pihkala has served as the Tokmanni Group’s Strategy and Development Director and a member of the Executive Management Team since 2018. Previously, Pihkala worked as an investment manager at Takoa Invest, among other positions.” In my opinion, it seems like a bit of a lightweight choice considering the career history related to the role. Hopefully, sourcing and purchasing will be mastered more successfully than Tokmanni’s strategy and development have been in recent years.

Ilta-Sanomat – 29 Jan 26              Yllättävä tieto: Saivatko suomalaiset tarpeekseen Kiina-kaupoista?    Onko buumin loppu käsillä?                             Possibly good news for Tokmanni: “Only just under six percent of Finns intend to shift their shopping to Asian discount stores. Meanwhile, the share of those switching to local discount stores is over nine percent.” The study was conducted at the end of December 2025, and 1,000 Finns responded to it.

Exactly, meaning that the weakened dollar should provide some benefit to the gross margin. Tokmanni hedges about half of its USD-denominated purchases 6 months ahead, so the impact will come with a slight delay. From what I understand, all Asian imports are purchased in USD. The [Swedish] krona provides a benefit starting right from the top line. Most of the expenses are also denominated in kronas, so the impact should remain roughly the same at the operating profit level as well. The company hasn’t hedged this currency risk at all, at least up to this point.

This is just a completely standalone comment, but I wonder if currency exchange rates are providing some tailwind for Tokmanni? From the annual report: “The most significant foreign currencies for the Group are the US Dollar (USD) and the Swedish Krona (SEK). The US Dollar is the Tokmanni Group’s most significant non-euro-denominated procurement currency. The significance of the Swedish Krona stems from business operations conducted in the home currency of the acquired subsidiary.” The dollar is at its weakest level in years and the krona has strengthened against the euro, so it should be a good combo for Tokmanni?

Tokmanni Group

Tokmanni reported its first quarter as a Nordic discount retailer. Overall, the Q3 report was weak, with revenue and EPS below our expectations. According to the company, the Dollarstore integration is well underway, and the first significant synergies are expected from the beginning of 2024.

<p>Tokmanni reported its first quarter as a Nordic discount retailer. Overall, the Q3 report was weak, with revenue and EPS below our expectations. According to the company, the Dollarstore integration is well underway, and the first significant synergies are expected from the beginning of 2024.</p> 

	2022	23e	24e
Revenue	1,168.0	1,379.4	1,658.6
growth-%	2.3 %	18.1 %	20.2 %
EBIT (adj.)	85.7	96.2	119.2
EBIT-% (adj.)	7.3 %	7.0 %	7.2 %
EPS (adj.)	1.03	1.00	1.19
Dividend	0.76	0.78	0.80
Dividend %	6.7 %	9.8 %	10.0 %
P/E (adj.)	11.0	8.0	6.7
EV/EBITDA	6.7	6.4	5.3

Tokmanni: Integration is underway, but Finland is hiccuping

Key Estimate Figures20.11.2023

Forum discussions