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
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    id
  }
  tags {
    name
    id
  }
  ... 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
      researchContentUrl
    }
    ... 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
    }
  }
}


nokian-panimo-acceleration-from-h1-expected-evli

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Nokian Panimo is a brewery. The brewery produces everything from beer and cider, to non-alcoholic beverages such as mineral water and soft drinks. The brewery's best-known brand is the Keisari series of beers. The brewery also produces small batches of named beers on request. Nokian Panimo was founded in 1991 and is headquartered in Nokia, Finland.

Forget those nonsense “Hesuli” (Helsinki) tech firms and turn your gaze toward a real growth company. New buildings and tanks are popping up on the plot constantly. At the beginning of the week, I visited the brewery to ensure that Q2 sales volumes are developing favorably, and I grabbed six cases of Minea water for my summer stock at the shareholder price. At the same time, I got to witness that construction miracle live in person.

Financial data for the past year has been released for MBH Breweries Oy, the largest craft brewery after Laitilan and Nokia Brewery:            asiakastieto.fi              MBH Breweries Oy taloustiedot    Kaikki yritystiedot www.asiakastieto.fi/yritykset palvelusta                             Impressive performance from a company that has spent a long time plowing through losses. Revenue growth last year was 15.5%, and on a turnover of approximately seven million euros, they achieved an operating profit of nearly one million.

The bid-ask spread looks pretty grim:  Inderes is responsible for updating the list of Nokia Brewery’s (Nokian Panimo) largest shareholders, so the changes for April are not yet visible online. More active operators already got the figures displayed on Friday. EDIT: The list did update after all. At the top end, ex-CEO Marcus Kanerva’s company, Eurocredit, has continued to trim its position. However, no explanation was found for that hefty sell order of approximately 50,000 shares; that sell order appeared as early as Friday.

Well, this might not fit perfectly into this thread, but there was something in this podcast that might interest investors following this thread; the kind of “nice-to-know stuff” that you can also manage without.   The more of a product is produced, the cheaper that individual product becomes – we’re talking about economies of scale. How is it possible that small breweries still survive? Their market share is 6–8 percent of beer sales, depending on the calculation method. Brewery history in Finland has been a history of numerous regulations and provisions. EU membership enabled free competition and a boom in founding small breweries began. Initially, brewery shops were not allowed to sell only beer; they also had to have groceries on the shelves. Sales and delivery to the buyer’s doorstep are still prohibited – for Finnish breweries, that is; you can order beer to your home from abroad. During the first free years, about 40 small breweries were founded, but the number dropped to half of that within a few years. A new rise began in the 2010s. Now there are well over a hundred small breweries. The guest is Jyri Ojaluoma, Chairman of the Board of the Finnish Microbrewery Association.                    Yle Areena              Onko olut hyvää myös liiketoimintana? | Virtasen taloushistoria    Mitä enemmän jotakin tuotetta tehdään, sitä halvemmalla se yksittäinen tuote syntyy - puhutaan suuruuden ekonomiasta. Miten on mahdollista, että pienpanimot silti pärjäävät? Niiden markkinaosuus on laskentatavasta riippuen 6-8 prosenttia oluen...

I’ll return to the valuation levels of peers through the peer group tables found in OP’s Olvi analyses: In January of the current year (Olvi’s earnings preview Feb 2, 2026):  Current figures (Olvi’s earnings comment April 27, 2026)  Quite a significant decline. Even if the reasons for Royal Unibrew’s decline are not yet reflected in the 2026–2027 earnings forecasts. In Evli’s forecasts, Nokian Panimo’s P/E for the current year is a steep 20, and 17.1 for next year. EV/EBITDA is 8.5 and 7.4. EV/EBIT 12.8 and 11.5.

Let’s keep the thread alive. In three weeks, on May 13th, a sales review will be published. In connection with this, the brewery will report on first-quarter volume development and provide information on market trends, but no financial figures. Nokian Panimo’s new beers, Keisari Biere Blanc and Keisari Hinode, went on sale on February 2nd. Off the top of my head, the company mentioned during the earnings release at the end of February that the drinks were available in about 400 stores, but that retail coverage would expand significantly by Easter. Discussions at the Annual General Meeting indicated that the products have been well-received. One could assume those product launches have a reasonable impact on Q1 sales. On March 10th, ten new products were launched in the categories of water, soft drinks, mocktails, long drinks, and ciders. There is no information regarding the growth rate of the number of points of sale for these. Something that has received less attention is that Keisari lager is on a sales campaign in the S Group from March 4th to May 2nd and is very prominently displayed in stores, at least in the Pirkanmaa region. And the stock is moving. I would assume this has the biggest impact on the quarter’s liter sales development. I noticed last week already that Evli’s page lists a target price of 3.0 euros for the stock: https://www.evli.com/en/products-and-services/equity-research/companies/nokian-panimo However, in the latest published report, the target price is 2.6 euros, and I can’t think of anything else that would have caused such a jump in a month, so apparently they’ve just made a slip-up while updating the website. Since analysts estimate their target prices by looking at the valuation levels of peers, it’s interesting to see how Royal Unibrew’s total share price drop of about 30% seen today and yesterday reflects on the target prices of domestic breweries. On the other hand, before the correction, Royal was a company valued at quite high valuation multiples compared to its peers.

Matter of opinion. In my view, the half-liter beer can works better as a product sold individually. Multi-packs are a different story. And a significant portion of specialty beers in stores are in larger cans or bottles anyway. One more observation, regarding how the can itself represents a significant cost item in the overall total. One would imagine that, when allocated per liter, a larger can is a significantly more cost-effective option.

Nokian Panimo

Nokian Panimo reports H2’25 figures on Friday. Despite the November profitability guidance cut, we expect progress from H1 across key metrics driven by stronger demand indicators.