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
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Sauli Vilén

Kasper Mellas

CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki, Finland.

I jumped into this yesterday and right away an Inderes preview comes out…                   Inderes              CapMan Q4'25 -ennakko: Varainkeruussa on pakko onnistua 2026 - Inderes    Voitonjako-osuustuotot siivittävät Q4-tulosta, mutta vuoden 2026 varainkeruun onnistuminen on strategian kannalta kriittistä.

The infrastructure business of Terrawise, partially owned by CapMan, has been sold to NYAB.                   Inderes              NYAB AB: NYAB Finland Oy laajentaa toimintaansa pääkaupunkiseudulle ostamalla...    NYAB Finland Oy vahvistaa läsnäoloaan pääkaupunkiseudulla hankkimalla TerraWise Oy:n infraliiketoiminnan. Laajentuminen pääkaupunkiseudulle on johdonmukainen osa NYABin kasvustrategiaa markkinoilla...                                               CapMan – 6 May 24              CapMan Special Situations sijoittaa TerraWiseen - CapMan    We build value for the enrichment of society         Est. reading time: 2 minuuttia

News Powered by Cision              CapMan Real Estate ja Holiday Club solmivat 20 vuoden vuokrasopimuksen Oulun...    CapMan Real Estate ja Holiday Club Resorts -tiedote 21.1.2026 klo 9.00  CapMan Real Estaten                             CapMan Hotels II, a fund managed by CapMan Real Estate, and Holiday Club Resorts have signed a new 20-year lease agreement for Holiday Club Oulu Eden. The agreement marks the start of a major renovation and renewal project aimed at returning Oulu Eden to active hotel, spa, and conference use, and developing the site into an attractive tourism and leisure complex. Following the extensive renovation, Oulu Eden will reopen as an attractive tourist destination as part of the developing Nallikari area. The traditional hotel’s experience spa, sauna world, accommodation facilities, and restaurant concepts will be renewed, and the destination’s service offering will be developed to meet the needs of both leisure travelers and conference guests. The renovation work will be carried out in phases. The goal is for the major renovation to be completed during the first half of 2027, after which the site will reopen as a renovated Holiday Club spa hotel.

Forenom was one of those exits we were waiting for, as at least in my own books, there was a scenario where Buyout X would have reached profit sharing. This clearly didn’t happen, however, as the return remained below the hurdle rate (otherwise, this would have certainly been mentioned). We didn’t have any carry for this in our forecast, so there are no changes in that regard.  Then, regarding the first close of the new forest flagship fund. The fact that the closing was successfully pushed through for 2025 in a difficult market was, of course, positive. What is a bit concerning, though, is that the size of the close was not disclosed. Usually, these are always reported, and in my view, it’s a direct signal that the size of the close was very modest (why wouldn’t you beat your chest if the close was large?). We’ll get confirmation on this in connection with the Q4 results.

News Powered by Cision              CapMan Buyout myy Forenomin Bravedon johtamalle sijoittajaryhmälle    CapMan Buyout tiedote 9. tammikuuta 2026 klo 10.00  CapMan Buyout X -rahasto on sopinut                             CapMan Buyout X fund has agreed to sell Forenom Group Oy, the leading provider of furnished apartments in the Nordics, to an investor group led by Bravedo. Bravedo is a Nordic group providing staffing and technology services. CapMan Buyout invested in Forenom in 2016 to accelerate the company’s growth and support international expansion in the Nordic countries. During CapMan Buyout’s ownership, Forenom’s revenue has tripled, and the company has grown from a Finnish operator into a leading Nordic service provider. Today, the company’s portfolio comprises over 9,000 furnished apartments, aparthotels, and hostel rooms across all major Nordic cities and Germany. Forenom operates with more than 30 local offices and over 500 employees. Forenom is the final exit for the CapMan Buyout X fund. The fund was established in 2012.

As far as I know, Frimodig still has ownership through Silvertärnan AB as well? This is an investment company that is Capman’s largest shareholder. Frimodig thus owns a part of this company through his own investment company, Boldhold. Here is an Inderes article from 2019: CapManissa merkittävä omistusjärjestely - Inderes

Chairman of the Board Frimodig sold 94,000 shares (~8.5% of holding):                   Inderes              CapMan Oyj: Johdon liiketoimet - Frimodig - Inderes    CapMan Oyj Pörssitiedote / Johtohenkilöiden liiketoimet 30.12.2025 klo 15.00CapMan Oyj: Johdon liiketoimet - FrimodigCapMan Oyj on vastaanottanut seuraavan markkinoiden väärinkäyttöasetuksen...                              That’s what I recalled, and I was going to check the management ownership page, but the page is broken:                   CapMan              Johtohenkilöiden omistukset - CapMan    Sustainable value through active ownership

CapMan

CapMan clearly reported a more modest Q2 result than we expected, which has led to a drastic decline in our earnings estimates for the coming years mainly in terms of heavily fluctuating investment and carried interest income

<p>CapMan clearly reported a more modest Q2 result than we expected, which has led to a drastic decline in our earnings estimates for the coming years mainly in terms of heavily fluctuating investment and carried interest income. Reflecting our estimate cuts, we lower our target price to EUR 2.7 (was EUR 2.9). However, we still believe that the expected return of the share is good if our earnings estimates materialize, so we reiterate our Accumulate recommendation.</p>

	2022	23e	24e
Revenue	67.5	67.2	78.8
growth-%	27.9 %	-0.5 %	17.3 %
EBIT (adj.)	53.1	22.2	41.6
EBIT-% (adj.)	78.6 %	33.0 %	52.8 %
EPS (adj.)	0.25	0.10	0.18
Dividend	0.17	0.18	0.19
Dividend %	6.3 %	9.4 %	9.9 %
P/E (adj.)	10.8	19.1	10.8
EV/EBITDA	8.3	15.9	8.8

CapMan: No need to throw in the towel

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Key Estimate Figures03.08.2023

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