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

Olli Koponen

SRV Group operates in the construction industry. The greatest specialist expertise is found in project management of construction projects for the commercial sector. The projects are mainly focused on the development of business premises, residential buildings, and other infrastructure projects. The largest operations are found around major growth locations in Europe. The company was founded in 1987 and has its headquarters in Espoo.

Regardless of the settlement terms, one would have expected the company to disclose the conclusion of the legal proceedings. The settlement is an excellent outcome because, in a worst-case scenario at the Court of Appeal, the payout and/or costs could have amounted to a ballpark figure of 15,000,000 euros, considering several years (3-4) of penalty interest and both their own and the counterparty’s legal expenses. That is no “more” than 1/6 of the company’s current market capitalization. We will surely get some indication of the financial terms of the settlement in the next earnings release, but based on the news coverage and the company’s own lack of disclosure, it appears to be a “walk-away” deal where each party bears its own costs or, alternatively, a relatively small compensation sum was paid. If it were a significant compensation, the company would have been required to disclose the settlement.

Interesting that nothing has been announced, considering it’s a significant sum relative to earnings performance, and that the case in question was reported at the time. INSIDE INFORMATION: Lawsuits filed against SRV Construction Ltd, a subsidiary of SRV Group Plc, related to the 2020 fire in Palokka, Jyväskylä | SRV.fi https://share.google/UDgTTjezEAss3awh1

I believe it hasn’t been reported on this forum that the Palikka fire damage from 2020 was settled between the parties in November 2025. In my opinion, SRV has also not issued any disclosure on the matter, which is a good thing, as SRV has maintained from the start that the company is not liable for damages. Based on the news from YLE Keski-Suomi, one could conclude that the company reached a settlement without paying damages or with a very small compensation.

A small update on SRV’s housing sales. Of the 82 apartments in Karhunsammal, located in Munkkivuori, 49 are currently available. If even the preliminary reservations turn into final ones, the magical 50% reservation rate is approaching. If the website has been up to date, reservations have developed quite favorably over the past week. In the two projects under construction in Niittykumpu, the number of available apartments has dropped to 21 in each. Development for these projects has also been good recently, as just a few days ago there were still 25–26 available apartments in each housing company.

Are we perhaps on the verge of a turnaround? If residential construction starts to recover in 2027, the stock market is already champing at the bit this spring. SRV has lagged badly behind YIT in stock performance over the last 12 months.

Couldn’t the title be concisely “SRV”, even though the title doesn’t define the company’s actions?

Is it time to change the thread title? The next recession will certainly come around again, but the question in the title was answered with a “yes” years ago. Volume of building permits granted grew by 3% year-on-year in November 2025 | Statistics Finland

SRV Group

SRV’s Q4 report was below our expectations as a whole. Projects with weak margins pushed the company’s earnings into red in 2021. This year, performance will also remain clearly below the potential...

<p>SRV’s Q4 report was below our expectations as a whole. Projects with weak margins pushed the company’s earnings into red in 2021. This year, performance will also remain clearly below the potential, as very few developer contracted dwellings will be completed. 2022 threatens to become a gap year, overshadowed by the many uncertainties in the market, in addition to company-specific challenges. We do not believe the valuation currently offers sufficient expected returns for us to jump on board the share considering the risks.</p> 

	2021	22e	23e
Revenue	932.6	880.4	963.3
growth-%	-4.4 %	-5.6 %	9.4 %
EBIT (adj.)	5.3	27.7	36.0
EBIT-% (adj.)	0.6 %	3.1 %	3.7 %
EPS (adj.)	-1.42	0.93	1.61
Dividend	0.00	0.00	0.50
Dividend %			9.2 %
P/E (adj.)	neg.	5.8	3.4
EV/EBITDA	67.2	7.7	5.4

SRV Group: Gap year before growth

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Key Estimate Figures03.02.2022

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