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
    }
  }
}


betolar-lot-risk-potential-awkwardly-far-away

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Head of Research

Antti Viljakainen

Analyst

Tommi Saarinen

Betolar is a pioneering materials technology company focusing on turning industrial side streams into value. Betolar offers continuous competitive edge to the construction industry and enable the transition towards a sustainable built environment - socially, environmentally and economically.

Hi, yesterday’s announcement does not mean Betolar’s delisting from First North, but rather bringing the share for trading also in the United States. Trading would henceforth take place concurrently on two markets: First North in euros and the OTCQX marketplace in dollars. This marketplace is specifically aimed at US investors for whom direct investment in Helsinki is difficult, so this does not require any action from Finnish investors. The listing itself also does not mean raising new capital, but the move raises the company’s profile in the United States. I expect Betolar to need additional equity financing, but I still consider it likely that any potential financing will ultimately be sought from the Nordics.

Considering that the company’s realized revenue is in the hundreds of thousands of euros, the company certainly has a very ambitious and international attitude towards things. The website is made to be top-notch, and now a parallel listing in the United States… Their actions are like those of an even larger listed company. Now, explosive growth is simply needed; the targets are really high, but the track record is still a bit lacking (in 2026, according to the original targets, the company should have a revenue of 200 million, and according to current targets, a billion by 2033). In my opinion, setting huge targets is a bit problematic from an investor’s perspective when the track record for achieving them is weak. It makes the company a bit like a lottery ticket type of investment; we’re talking about hundreds of millions and a billion, but currently, we are in the hundreds of thousands. Of course, the targets have now been updated, but still, a bit of realism is needed regarding what is actually possible and what is not. I’m not criticizing growth per se; it’s good that Finland has growth-oriented companies. But when listing on the stock exchange, the rhetoric and actions should be more realistic than what is discussed in the startup world.

From Betolar’s website: “The aim of the planned OTCQX listing is to improve the share’s valuation and liquidity and expand the ownership base by offering US investors an easy, dollar-denominated, and cost-effective way to invest in the company, which is listed on the Nasdaq First North Growth Market Finland market.” Therefore, to my best knowledge, I believe that this listing concerns US investors and its position on Nasdaq First North Growth Market Finland remains unchanged. Please correct me if I am wrong about this. Betolar Applies for Its Shares to Be Admitted to Trading on the US OTCQX Market

@Tommi_Saarinen Could Tommi comment on this latest announcement from Betolar and that question from member @jopa?

Does this mean that Betolar will delist from the First North marketplace? Will Betolar’s shares have to be traded in dollars in the future?

Betolar shares may soon be traded in the United States Betolar announced it is seeking to list its shares on the U.S. OTC market.                   Tärkeimmät talousuutiset | Kauppalehti – 3 Dec 25              Betolarin osakkeilla voi pian käydä kauppaa Yhdysvalloissa    Betolar kertoo hakevansa osakkeidensa listaamista Yhdysvaltain OTC-markkinapaikalle.

Why is Betolar not involved in this? Apparently, the Finnish state is also supporting the project together with the EU. Another question is why Betolar was not part of those state visits? Inevitably, the thought came that a merger between Epse and Betolar would be more than a logical alliance, both would benefit. Epse technology processes wastewater and Betolar processes tailings and slag. This would be a perfect alliance. But to start with, could Betolar still get involved in that Uzbekistan and Kazakhstan project? Why not. Nothing else to do but contact, for example, Finnish state authorities.

Betolar

Betolar announced on September 12 that it is planning structural reforms, which the company estimates will lead to annual savings of around EUR 5 million. According to our estimates, the company is using the savings to shift the need to raise new financing beyond the current tight financial market situation, which in itself is justified from the perspective of existing shareholders. However, we believe that the change of direction raises risks to net sales growth, especially in the short term.

<p>Betolar announced on September 12 that it is planning structural reforms, which the company estimates will lead to annual savings of around EUR 5 million. According to our estimates, the company is using the savings to shift the need to raise new financing beyond the current tight financial market situation, which in itself is justified from the perspective of existing shareholders. However, we believe that the change of direction raises risks to net sales growth, especially in the short term.</p> 

	2022	23e	24e
Revenue	0.3	0.7	3.0
growth-%	2,770.0 %	130.7 %	353.2 %
EBIT (adj.)	-11.5	-13.2	-7.9
EBIT-% (adj.)	-4,013.2 %	-1,999.9 %	-263.8 %
EPS (adj.)	-0.61	-0.67	-0.42
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	neg.	neg.	neg.
EV/EBITDA	neg.	neg.	neg.

Betolar: Lot of risk with potential awkwardly far away

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Key Estimate Figures27.09.2023

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