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
    }
  }
}


tulosparannusta-jo-hieman-reilusti-hinnassa

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Frans-Mikael Rostedt

Head of Nordic ER Development, Analyst

Antti Luiro

Loihde is a service company for digital development and security. The company offers solutions within data analysis and data management, user experience design, software development, cloud services, and services within cybersecurity and security technology. The customers consist of corporate customers operating in a number of different sectors. The largest operations are found in Finland and Sweden.

Ilkka-Pohjalainen              Loihde valmistelee kiinteistöjen myyntiä Seinäjoella – Pohjalaisyhtiöllä...    Loihde suunnittelee luopuvansa historiallisista pohjalaisista kiinteistöomistuksistaan.                             “ – Due to its history, the company has real estate holdings in Seinäjoki and Vaasa. Real estate is in no way part of Loihde’s current strategy, says CEO Samu Konttinen. – The main goal is to get rid of all real estate holdings. In the center of Seinäjoki, Loihde is seeking a zoning change for the plot where the main building of the South Ostrobothnia Telephone Company is located. The intention is to preserve the main building completed in 1950, while simultaneously enabling extensive new residential construction on the plot. The Urban Environment Committee will discuss the zoning change in its meeting on February 18. The zoning process is intended to start during this year and be approved by next year. – We aim to use the proceeds from the real estate sales to develop the company’s business operations, and if there are no development ideas, we will distribute the money to investors as dividends, Konttinen says. ” This matter is by no means new, but rather a prolonged process due to zoning and market conditions. In addition to Vaasa and Seinäjoki, there are properties in Kokkola and Espoo. Their book value on the balance sheet is 2.8m. Market value is then another matter.

Q4 was, in my opinion, a good example of one of the cornerstones of the company’s investment story. –> Improvements in EBITDA flow effectively to the bottom line due to the company’s currently low profitability. Personnel efficiency has also clearly improved now, and recurring services have grown well, which should create more stability in the future.  The company’s business mix has also moved rapidly in a better direction and centered around its own strengths. This will, of course, gain a lot of additional momentum if the BLC Turva acquisition goes through. The poorly performing IT consulting area now accounts for only 20% of revenue, and development there has also stabilized in the sense that utilization rates have been brought to reasonably good levels. The development of security solutions, on the other hand, has been excellent, and there should be conditions for continued good progress, considering that according to the company, large public sector contracts won only began to materialize in Q4.

Frans has published a new company report on Loihde regarding Q4  Loihde’s Q4 report was clearly better than our expectations, driven especially by the strong performance and excellent profitability of Security Solutions. The guidance was in line with our expectations, and the 1.00 euro dividend was significantly higher than we anticipated. We raised our earnings forecasts slightly following the strong Q4 report. In our view, the expected value of the BLC Turva acquisition, currently being processed by the FCCA (KKV), is positive and we estimate it would clearly increase EPS if completed. Loihde’s valuation for 2026-27 (adj. P/E 16-13x) is attractive in our opinion, considering the company’s clear earnings growth potential, the positive business trend, and the upside option from the BLC Turva acquisition. The expected return is supported by a 6-8% dividend yield. Quoted from the report: Outlook for 2026 was as expected In its 2026 outlook, Loihde expects revenue and adjusted EBITDA to grow or remain at approximately the level of the previous year, which was fairly in line with our expectations and the company’s previous stance. The guidance does not yet include the BLC Turva acquisition agreed in November, which is currently being processed by the Finnish Competition and Consumer Authority (Kilpailu- ja kuluttajavirasto). The acquisition is very significant if completed, and Loihde will update its guidance if the deal goes through.                   Inderes              Loihde Q4'25: Defensiivinen tuloskasvuprofiili alkaa pintautumaan - Inderes    Loihteen arvostus 2026-27 (oik. PE 16-13x) on mielestämme houkutteleva huomioiden yhtiön selkeä tuloskasvupotentiaali, liiketoiminnan hyvä trendi ja BLC Turva –yrityskaupan positiivinen optio.

Frans interviewed CEO Samu Konttinen after the Q4 results.                    Inderes              Loihde Q4'25: "Hyvää tekemistä yhtiössä" - Inderes    Aika: 13.02.2026 klo 14.23 Loihde päätti vuoden 2025 vahvasti ja Q4-tulos ylitti odotukset. Erityisesti turvaratkaisut kehittyi hyvin. Yhtiö yllätti myös euron osakekohtaisella osinkoehdotuksellaan, joka on merkittävä korotus viime vuoden 0,75...                             Topics: 00:00 Start  00:12 Q4 and full-year summary  01:10 Performance of business segments  03:32 Profitability  06:32 Balance sheet and profit distribution  08:48 Guidance and outlook  10:50 Impact of AI  13:48 BCL Turva Oy acquisition

Inderes              Loihde Oyj:n tilinpäätöstiedote 1.1.–31.12.2025: Kannattavaa kasvua: Q4:lla...    13.2.2026 08:00:01 EET | Loihde Oyj | TilinpäätöstiedoteLoihde Oyj Yhtiötiedote 13.2.2026 klo 8.00 (tilintarkastamaton)Loihde Oyj:n tilinpäätöstiedote 1.1.–31.12.2025:Kannattavaa kasvua: Q4:...                             Here is the link to the financial statement release itself; I have a good feeling about this. Of course, a lot still depends on whether the competition authorities provide a favorable decision for the large acquisition. If they do, the upside could be significant, as I see the business integration being quite easy in this case, since it’s not a Swedish company

Here are Frans’s comments on Loihde’s Q4 report published this morning.  Loihde published a stronger-than-expected Q4 result on Friday, driven particularly by the strong performance of Security Solutions. Especially Q4 profitability clearly exceeded our expectations. The 2026 guidance points to steady or improving revenue and earnings, which is in line with our forecasts following the strong Q4 report. The company also delivered another dividend surprise, and the board proposes a dividend of EUR 1.00 per share. We expected a smaller dividend in light of the large BLC Turva acquisition, but the company’s balance sheet remains in strong shape. The report reinforced our confidence in the progress of Loihde’s strategy and created slight upward pressure on our forecasts, even though we already expect a clear operational step-up in the coming years.                   Inderes              Loihde Q4'25 -pikakommentti: Erittäin vahva vuoden lopetus - Inderes    Q4-kannattavuus ylitti selvästi odotuksemme Turvaratkaisuiden siivittämänä.

Here are Frans’s preview comments as Loihde reports its Q4 results on Friday.  We expect Loihde’s Q4 revenue to have continued in slight growth, driven by Security Solutions and continuous services, and profitability to have improved from last year. We forecast the dividend proposal to decrease to approximately the level of adjusted earnings at EUR 0.50, as the company prepares for the balance sheet to lighten with the BLC Turva acquisition. In the report, our attention is particularly focused on the 2026 outlook, as well as the progress of the large BLC acquisition and potential additional information. We estimate that the company will guide for flat or growing revenue and improving results, excluding the impact of the acquisition.                   Inderes              Loihde Q4'25 -ennakko: BLC-yrityskauppa ja ohjeistus huomion keskipisteessä -...    Odotamme Q4:n tuloksen olleen hyvällä tasolla.

Loihde

Loihteen Q4-luvut ja ohjeistus olivat isossa kuvassa melko linjassa odotustemme kanssa. Odotamme yhtiön kykenevän vuonna 2024 selvään tulosparannukseen vaikeassa toimintaympäristössä, jota helpottaa...

<p>Loihteen Q4-luvut ja ohjeistus olivat isossa kuvassa melko linjassa odotustemme kanssa. Odotamme yhtiön kykenevän vuonna 2024 selvään tulosparannukseen vaikeassa toimintaympäristössä, jota helpottaa vertailukauden heikko H1’23. Arvostus (2024e oik. EV/EBITA 14x ja oik. PE 20x) on absoluuttisesti ja suhteellisesti kireä, vaikka lyhyellä aikavälillä yhtiön hallituksen ehdottama 1,0 euron osinko tukee tuotto-odotusta.</p> 

	2023	24e	25e
Revenue	132.7	132.9	138.4
growth-%	7.9 %	0.1 %	4.1 %
EBIT (adj.)	0.7	4.5	6.6
EBIT-% (adj.)	0.5 %	3.4 %	4.8 %
EPS (adj.)	0.14	0.68	0.97
Dividend	1.00	0.49	0.62
Dividend %	8.3 %	3.8 %	4.8 %
P/E (adj.)	84.8	19.0	13.4
EV/EBITDA	9.5	6.2	4.9

Tulosparannusta jo hieman reilusti hinnassa

Login required

Key Estimate Figures04.03.2024

Forum discussions