New Risk • Jul 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €86.9m (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (€86.9m market cap, or US$98.8m). Reported Earnings • May 11
First quarter 2026 earnings released: €0.15 loss per share (vs €0.012 loss in 1Q 2025) First quarter 2026 results: €0.15 loss per share (further deteriorated from €0.012 loss in 1Q 2025). Revenue: €140.9m (down 13% from 1Q 2025). Net loss: €1.60m (loss widened €1.40m from 1Q 2025). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Apr 25
Srv Group plc Raises Earnings Guidance for the Full Year 2026 SRV Group Plc raised earnings guidance for the full year 2026. For the period, the company revenue for 2026 is now estimated to exceed EUR 800 million (previous guidance: EUR 650-750 million) and the operative operating profit to exceed the level of 2025 (previous guidance: Operative operating profit is expected to be positive). The company raises its estimate for revenue and operative operating profit for 2026. The reason for the revised guidance is a better-than-expected order intake in the early part of the year and the positive progress rate of projects in the development phase. Announcement • Mar 27
SRV Yhtiöt Oyj Approves the Election of Pertti Vanhanen (Emba) as New Member of the Board of Directors SRV Group Plc's Annual General Meeting was held on 26 March 2026, Pertti Vanhanen (EMBA) was elected as new member of the Board of Directors. Board Change • Mar 23
High number of new directors Independent Director Anna Hyvonen was the last director to join the board, commencing their role in 2025. New Risk • Mar 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 864% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. New Risk • Mar 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €84.5m (US$98.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Board Change • Feb 26
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Vice Chairman Heli Iisakka is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 13
Full year 2025 earnings released: EPS: €0.78 (vs €0.18 in FY 2024) Full year 2025 results: EPS: €0.78 (up from €0.18 in FY 2024). Revenue: €728.6m (down 2.3% from FY 2024). Net income: €15.5m (up 411% from FY 2024). Profit margin: 2.1% (up from 0.4% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Feb 11
SRV Group Plc Provides Earnings Guidance for the Full Year 2026 SRV Group Plc provided earnings guidance for the full year 2026. Consolidated revenue for 2026 is expected to amount to EUR 650 Million - 750 Million (revenue in 2025: EUR 705.6 million). Board Change • Jan 22
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Vice Chairman Heli Iisakka is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 19
SRV Group Plc Raises Earnings Guidance for the Full Year 2025 SRV Group Plc raised earnings guidance for the full year 2025. for the year, the company expects revenue to be EUR 700 million - EUR 715 million (previous guidance: EUR 650 million-EUR 680 million). Announcement • Jan 01
Kreate Oy acquired Srv Infra Oy from SRV Yhtiöt Oyj (HLSE:SRV1V). Kreate Oy signed an agreement to acquire Srv Infra Oy from SRV Yhtiöt Oyj (HLSE:SRV1V) for €30 million on October 27, 2025. Cash consideration of €30 million will be paid by Kreate Oy. As part of consideration, €30 million is paid towards common equity of Srv Infra Oy. The transaction will be financed through senior debt of €25 million. The final purchase price will be subject to customary adjustments for net debt and net working capital at the time of completion. Upon completion, the acquisition will be financed with a new €15 million bank loan as well as the company’s cash reserves and, if necessary, available credit limits. In addition to the new €15 million bank loan, the company has increased its revolving credit facilities by EUR 5 million, bringing the total committed credit limits in use to €25 million. In connection with the transaction, Kreate Oy and SRV Group Plc have entered into a long-term framework agreement concerning rock, foundation and concrete construction works related to building construction, as well as other infrastructure construction. The framework agreement covers all types of projects.
For the period ending December 31, 2024, Srv Infra Oy reported total revenue of €52.2 million and EBIT of €2.6 million. As of December 31, 2024, Srv Infra Oy reported total assets of €19.86 million.
The transaction is subject to approval by the Finnish Competition and Consumer Authority and regulatory approvals. The parties expect the transaction to be completed by the end of 2025.
Mikko Eerola, Ilkka Leppihalme, Hanna-Mari Manninen, Eeva-Lotta Kivelä, Tuomas Tiensuu, Aarne Puisto, and Jenni Vinnari of Dittmar & Indrenius Attorneys Ltd. acted as legal advisor for Kreate Oy. Asianajotoimisto Castrén & Snellman Oy acted as legal advisor for SRV Yhtiöt Oyj.
Kreate Oy completed the acquisition of Srv Infra Oy from SRV Yhtiöt Oyj (HLSE:SRV1V) on December 31, 2025. Announcement • Oct 28
Kreate Oy signed an agreement to acquire Srv Infra Oy from SRV Yhtiöt Oyj (HLSE:SRV1V) for €30 million. Kreate Oy signed an agreement to acquire Srv Infra Oy from SRV Yhtiöt Oyj (HLSE:SRV1V) for €30 million on October 27, 2025. TA cash consideration of €30 million will be paid by Kreate Oy. As part of consideration, €30 million is paid towards common equity of Srv Infra Oy. The transaction will be financed through senior debt of €25 million. The final purchase price will be subject to customary adjustments for net debt and net working capital at the time of completion. Upon completion, the acquisition will be financed with a new €15 million bank loan as well as the company’s cash reserves and, if necessary, available credit limits. In addition to the new €15 million bank loan, the company has increased its revolving credit facilities by EUR 5 million, bringing the total committed credit limits in use to €25 million. In connection with the transaction, Kreate Oy and SRV Group Plc have entered into a long-term framework agreement concerning rock, foundation and concrete construction works related to building construction, as well as other infrastructure construction. The framework agreement covers all types of projects.
For the period ending December 31, 2024, Srv Infra Oy reported total revenue of €52.2 million and EBIT of €2.6 million. As of December 31, 2024, Srv Infra Oy reported total assets of €19.86 million.
The transaction is subject to approval by the Finnish Competition and Consumer Authority and regulatory approvals. The parties expect the transaction to be completed by the end of 2025.
Mikko Eerola, Ilkka Leppihalme, Hanna-Mari Manninen, Eeva-Lotta Kivelä and Tuomas Tiensuu of Dittmar & Indrenius Attorneys Ltd. acted as legal advisor for Kreate Oy. Reported Earnings • Oct 24
Third quarter 2025 earnings released: €0.11 loss per share (vs €0.059 profit in 3Q 2024) Third quarter 2025 results: €0.11 loss per share (down from €0.059 profit in 3Q 2024). Revenue: €160.1m (down 13% from 3Q 2024). Net loss: €1.10m (down 210% from profit in 3Q 2024). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Oct 24
SRV Group PLC Revises Consolidated Earnings Guidance for the Full Year of 2025 SRV Group PLC revised consolidated earnings guidance for the full year of 2025. For the year, the company expects consolidated revenue to decline compared with 2024 and to amount to EUR 650 million to EUR 680 million (revenue in 2024: EUR 745.8 million) (previously: EUR 630 million to EUR 680 million). Operative operating profit is expected to be positive (operative operating profit in 2024: EUR 10.3 million). Board Change • Sep 26
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Vice Chairman Heli Iisakka is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 10
Second quarter 2025 earnings released: €0.06 loss per share (vs €0.012 profit in 2Q 2024) Second quarter 2025 results: €0.06 loss per share (down from €0.012 profit in 2Q 2024). Revenue: €169.1m (down 9.2% from 2Q 2024). Net loss: €800.0k (down €1.00m from profit in 2Q 2024). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Aug 08
Srv Yhtiöt Oyj Revises Earnings Guidance for the Full Year 2025 SRV Yhtiöt Oyj revised earnings guidance for the full year 2025. For the full-year, the company consolidated revenue for 2025 is expected to decline compared with 2024 and to amount to EUR 630-680 million (revenue in 2024: EUR 745.8 million) (previously: EUR 630-710 million). Operative operating profit is expected to be positive (operative operating profit in 2024: EUR 10.3 million). Board Change • Jul 25
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Vice Chairman Heli Iisakka is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 06
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Vice Chairman Heli Iisakka is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 05
SRV Group Plc Announces Resignation of Hannu Leinonen from the Board, Effective June 3, 2025 Hannu Leinonen, a member of the Board of Directors of SRV Group Plc, has announced his resignation from the board. Leinonen has served on SRV's board since 2020. His resignation will take effective June 3, 2025. Following Hannu Leinonen's departure, the Board of Directors of SRV Group Plc will temporarily consist of five members. The composition continues to meet the requirements set forth in the company's articles of association. Reported Earnings • May 02
First quarter 2025 earnings released: €0.05 loss per share (vs €0.03 profit in 1Q 2024) First quarter 2025 results: €0.05 loss per share (down from €0.03 profit in 1Q 2024). Revenue: €161.5m (down 3.3% from 1Q 2024). Net loss: €200.0k (down 140% from profit in 1Q 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Apr 26
SRV Yhtiöt Oyj Announces Resignation of Miimu Airaksinen as SVP, Development and Member of Corporate Executive Team SRV Group Plc's SVP, Development and a member of Corporate Executive Team Miimu Airaksinen has resigned. She will take on a position outside the company at the end of October, at the latest. Announcement • Mar 27
SRV Group plc Elects Anna Hyvönen Lic.Sc. (Tech.) to Its Board of Directors SRV Group Plc announced that at its AGM held on March 27, 2025, approved Anna Hyvönen Lic.Sc. (Tech.) was elected as new member of the Board of Directors. The term of office of members of the Board of Directors will end at the close of the Annual General Meeting held in 2026. Announcement • Feb 28
SRV Group Plc Announces Executive Changes Kimmo Kurki, Senior Vice President, Counting and Procurement and member of the management team of SRV Group Plc, will retire by the end of May. The company has appointed SRV's Procurement Director, Teemu Linna, as the new Senior Vice President, Counting and Procurement, and a member of the management team. Linna will start in his new role on March 1, 2025. Reported Earnings • Feb 09
Full year 2024 earnings released: EPS: €0.16 (vs €1.02 loss in FY 2023) Full year 2024 results: EPS: €0.16 (up from €1.02 loss in FY 2023). Revenue: €746.9m (up 22% from FY 2023). Net income: €5.30m (up €22.6m from FY 2023). Profit margin: 0.7% (up from net loss in FY 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Announcement • Feb 07
SRV Yhtiöt Oyj Provides Earnings Guidance for the Full Year 2025 SRV Yhtiöt Oyj provided earnings guidance for the full year 2025. For the full-year, the company consolidated revenue for 2025 is expected to decline compared with 2024 and to amount to EUR 630 million to EUR 710 million (revenue in 2024: EUR 745.8 million). Operative operating profit is expected to be positive (operative operating profit in 2024: EUR 10.3 million). Announcement • Jan 31
SRV Yhtiöt Oyj Announces Appointment of Minna Korander as SVP, Human Resources and A Member of Corporate Executive Team SRV Yhtiöt Oyj announced the appointment of Minna Korander as SVP, Human Resources and A Member of Corporate Executive Team. Minna Korander, M. Sc. (Food Economics), 54 has been appointed Senior Vice President, Human Resources and a member of Corporate Executive Team of SRV Group Plc. She shall take up her position on 1 May 2025 at the latest. Most recently, Minna Korander has served as CPO in Fonecta Corporation and previously held several HR leadership positions at YIT Group. Kristiina Sotka current SVP, Human Resources and a member of Corporate Executive Team will leave SRV at the end of January to join another employer. Announcement • Oct 31
SRV Group plc Announces Resignation of Kristiina Sotka as SVP Human Resources and A Member of Corporate Executive Team, on April 2025 SRV Group Plc's SVP, SVP Human Resources and a member of Corporate Executive Team Kristiina Sotka has resigned. She will take on a position outside the company on April 2025, at the latest. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: €0.04 (vs €0.51 loss in 3Q 2023) Third quarter 2024 results: EPS: €0.04 (up from €0.51 loss in 3Q 2023). Revenue: €183.8m (up 25% from 3Q 2023). Net income: €1.00m (up €7.60m from 3Q 2023). Profit margin: 0.5% (up from net loss in 3Q 2023). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Announcement • Oct 01
SRV Group plc Announces Executive Changes SRV Group Plc announced the appointment of Liisa Krogerus, LL.M as Senior Vice President, General Counsel and a member of Corporate Executive Team. She shall take up her position on 2 January 2025 at the latest. Most recently, Liisa Krogerus has served as General Counsel in Purmo Group Plc. Anu Tuomola, current SVP, General Counsel and a member of Corporate Executive Team will leave SRV at the end of November at the latest to join another employer. Announcement • Sep 12
Srv Yhtiöt Oyj Announces Composition of Shareholders Nomination Board SRV Yhtiöt Oyj announced Composition of Shareholders Nomination Board. SRV Group Plc’s three largest shareholders appointed the following members to the Shareholders’ Nomination Board:
. Ilpo Kokkila, Chair of the Board of Directors, Pontos Oy Mikko Mursula, Chief Investment Officer, Ilmarinen Mutual Pension Insurance Company Vesa Aho, Executive Vice President, OP Financial Group. The Chair of the Board of Directors Ari Lehtoranta shall act as the fourth member of the Board. The right to appoint a member to the Shareholders’ Nomination Board lies with those three shareholders whose share of the votes of all shares in the company is largest, based on the company’s shareholders’ register held by Euroclear Finland Ltd. as of August 31 of the preceding calendar year of the Annual General Meeting. Ilpo Kokkila has been appointed as the Chair of the Nomination Board. The Nomination Board, established by the General Meeting, prepares annual proposals concerning the composition and remuneration of the Board of Directors to the Annual General Meeting. Announcement • Aug 22
SRV Yhtiöt Oyj, Annual General Meeting, Mar 27, 2025 SRV Yhtiöt Oyj, Annual General Meeting, Mar 27, 2025, at 16:00 FLE Standard Time. Reported Earnings • Jul 19
Second quarter 2024 earnings released: EPS: €0.012 (vs €0.28 loss in 2Q 2023) Second quarter 2024 results: EPS: €0.012 (up from €0.28 loss in 2Q 2023). Revenue: €186.3m (up 30% from 2Q 2023). Net income: €200.0k (up €4.90m from 2Q 2023). Profit margin: 0.1% (up from net loss in 2Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Announcement • May 29
SRV Group Plc Announces Resignation of Anu Tuomola as SVP, General Counsel and A Member of Corporate Executive Team SRV Group Plc 's SVP, General Counsel and a member of Corporate Executive Team Anu Tuomola has resigned. She will take on a position outside the company on November, at the latest. SRV will commence a search to recruit a new General Counsel without delay. Announcement • Apr 27
SRV Yhtiöt Oyj Provides Earnings Guidance for the Year 2024 SRV Yhtiöt Oyj provided earnings guidance for the year 2024. Full-year consolidated revenue for 2024 is expected to grow compared with 2023 (revenue in 2023: EUR 610.0 million). Operative operating profit is expected to improve compared with 2023 (operative operating profit in 2023: EUR 1.1 million). Reported Earnings • Apr 26
First quarter 2024 earnings released: €0.01 loss per share (vs €0.15 loss in 1Q 2023) First quarter 2024 results: €0.01 loss per share (improved from €0.15 loss in 1Q 2023). Revenue: €167.1m (up 21% from 1Q 2023). Net income: €500.0k (up €3.70m from 1Q 2023). Profit margin: 0.3% (up from net loss in 1Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Announcement • Mar 26
SRV Yhtiöt Oyj Announces Directorate Appointments SRV Yhtiöt Oyj at its Annual General Meeting held on 25 March 2024, approved Ari Lehtoranta M.Sc. (Eng.) and Tuomas Kokkila M.Sc. in Real Estate Development were elected as new members of the Board of Directors. Ari Lehtoranta was elected as the Chair of the Board of Directors. The term of office of members of the Board of Directors will end at the close of the Annual General Meeting held in 2025. Reported Earnings • Feb 06
Full year 2023 earnings released: €0.89 loss per share (vs €6.62 loss in FY 2022) Full year 2023 results: €0.89 loss per share (improved from €6.62 loss in FY 2022). Revenue: €610.0m (down 21% from FY 2022). Net loss: €15.1m (loss narrowed 83% from FY 2022). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Announcement • Feb 01
SRV Yhtiöt Oyj Provides Earnings Guidance for the Year 2024 SRV Yhtiöt Oyj provided earnings guidance for the year 2024. Full-year consolidated revenue for 2024 is expected to grow compared to 2023 (revenue in 2023: EUR 610.0 million), and Operative operating profit is expected to improve on 2023 (operative operating profit in 2023: EUR 1.1 million). Announcement • Dec 20
SRV Yhtiöt Oyj Announces Change in Corporate Executive Team Jussi Tuisku, SVP of SRV's operations in Russia and Estonia, will leave the company's corporate executive team as of December 22, 2023. However, Tuisku will continue to work for the company, focusing on the sale of SRV's only remaining Russian asset, the 50% holding in the Pearl Plaza shopping centre in St Petersburg. SRV has actively pursued the aim of exiting its operations in Russia since spring/winter 2022. In November 2022, SRV and its Finnish co-investors announced that they had sold their holdings in Okhta Mall shopping centre in St. Petersburg. In August of this year, the company announced that it had sold the entire share capital of its subsidiary SRV Russia Oy. SRV's last asset in Estonia, the plot holding in Hüüru, was sold in December. Announcement • Nov 21
SRV Yhtiöt Oyj Announces Board Resignations SRV Yhtiöt Oyj announced that current members of the board of directors Timo Kokkila and Tomi Yli-Kyyny have informed that they no longer are available for re-election to the next term of the board of directors. Announcement • Oct 27
SRV Yhtiöt Oyj Provides Consolidated Earnings Guidance for the Full Year 2023 SRV Yhtiöt Oyj provided consolidated earnings guidance for the full year 2023. Full-year consolidated revenue for 2023 is expected to decrease in comparison to 2022 (revenue in 2022: EUR 770.1 million). Operative operating profit is expected to be positive, but lower than in 2022 (operative operating profit in 2022: EUR 18.9 million). Revenue in 2023 will mainly be generated by cooperative contracting and development projects sold to investors. At the beginning of 2023, the order backlog was strongly weighted towards cooperative contracting, which involves fewer risks but lower margins. The company therefore expects the largest proportion of its full-year earnings to be generated in the end of the year. The share of revenue accounted for by developer-contracted housing production will remain small in 2023. Reported Earnings • Oct 27
Third quarter 2023 earnings released: €0.50 loss per share (vs €0.39 profit in 3Q 2022) Third quarter 2023 results: €0.50 loss per share (down from €0.39 profit in 3Q 2022). Revenue: €147.0m (down 21% from 3Q 2022). Net loss: €6.60m (down 225% from profit in 3Q 2022). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Announcement • Oct 06
SRV Group Plc Announces Nomination Board Appointments SRV Group Plc announced that its three large shareholders have appointed the following members to the Shareholders' Nomination Board: Ilpo Kokkila, Chairman of the Board of Directors, Pontos Oy; Mikko Mursula, Chief Investment Officer, Ilmarinen Mutual Pension Insurance Company; Vesa Aho, Executive Vice President, OP Financial Group. The Chairman of the Board of Directors Tomi Yli-Kyyny shall act as the fourth member of the Board. Ilpo Kokkila has been appointed as the Chairman of the Nomination Board. Announcement • Aug 03
Geomare Investments Limited acquired SRV Russia Ltd. from SRV Yhtiöt Oyj (HLSE:SRV1V) for €4 million. Geomare Investments Limited acquired SRV Russia Ltd. from SRV Yhtiöt Oyj (HLSE:SRV1V) for €4 million on August 1, 2023.Geomare Investments Limited completed the acquisition of SRV Russia Ltd. from SRV Yhtiöt Oyj (HLSE:SRV1V) on August 1, 2023. Announcement • Jul 25
Srv Yhtiöt Oyj Appoints Tero Karislahti as Senior Vice President, Regional Units, Effective No Later Than 1 July 2024 SRV Yhtiöt Oyj announced that Tero Karislahti has been appointed as Senior Vice President, Regional Units. Tero Karislahti, MSc. (Tech.), 40 years old, has been appointed as SRV Group Plc's Senior Vice President, Regional Units and a member of the Corporate Executive Team, effective no later than 1 July 2024. Until then, Hannu Lokka, SRV's Executive Vice President, Strategic Project Development, and a member of the Corporate Executive Team, is responsible for the Regional Units. Karislahti has held management positions at different YIT Corporation units for a long time, including Vice President responsible for operations in Häme and Uusimaa. Most recently, he has served as Lehto Group Plc's Executive Vice President, Housing and a member of its Executive Board. Reported Earnings • Jul 20
Second quarter 2023 earnings released: €0.40 loss per share (vs €5.36 profit in 2Q 2022) Second quarter 2023 results: €0.40 loss per share (down from €5.36 profit in 2Q 2022). Revenue: €143.1m (down 32% from 2Q 2022). Net loss: €4.70m (down 109% from profit in 2Q 2022). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Construction industry in Germany. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Announcement • May 24
Srv Yhtiöt Oyj Announces Executive Changes Henri Sulankivi, SVP, Regional Units and a member of Corporate Executive Team, has decided to leave SRV Yhtiöt Oyj. Until his successor has been elected, SRV Group Plc's Executive Vice President, Strategic Project Development, and a member of the Corporate Executive Team, Hannu Lokka, is responsible for the Regional Units. The recruitment of the new director of the Regional Units will be initiated immediately. Announcement • May 18
eQ Asset Management Ltd. acquired a Housing portfolio of two residential buildings in Tampere and Espoo from SRV Yhtiöt Oyj (HLSE:SRV1V) for €35 million. eQ Asset Management Ltd. acquired a Housing portfolio of two residential buildings in Tampere and Espoo from SRV Yhtiöt Oyj (HLSE:SRV1V) for €35 million on May 16, 2023.
eQ Asset Management Ltd. completed the acquisition of a Housing portfolio of two residential buildings in Tampere and Espoo from SRV Yhtiöt Oyj (HLSE:SRV1V) on May 16, 2023. Reported Earnings • Mar 05
Full year 2022 earnings released: €6.62 loss per share (vs €2.29 loss in FY 2021) Full year 2022 results: €6.62 loss per share (further deteriorated from €2.29 loss in FY 2021). Revenue: €770.1m (down 17% from FY 2021). Net loss: €87.6m (loss widened 307% from FY 2021). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Announcement • Feb 02
SRV Yhtiöt Oyj Provides Consolidated Earnings Guidance for the Year 2023 SRV Yhtiöt Oyj provided consolidated earnings guidance for the year 2023. For the year, the company expects Consolidated revenue for 2023 is expected to decrease compared to 2022 (revenue in 2022: EUR 770.1 million). operative operating profit is expected to be positive, but lower than the operative operating profit for 2022 (operative operating profit in 2022: EUR 18.9 million). Announcement • Dec 20
SRV Group Plc Announces Executive Changes Construction Engineer Hannu Lokka, 59, has been appointed SRV Group Plc's Executive Vice President, Strategic Project Development and a member of the Management Team as of 16 January 2023. In September, SRV announced that the company's current Executive Vice President, Strategic Project Development, Deputy to CEO Timo Nieminen, will retire by the end of January 2023. Lokka has most recently served as a founding partner and Chairman of the Board of Realidea Oy, a consulting company focusing on project and property development and the management of the design and implementation phases of construction projects, among others. Prior to this, he has worked for example as the CEO and partner of the construction company Jatke Oy and at YIT Plc in various management positions, such as project development director of CSF business area. Announcement • Nov 19
Geomare Investments Limited acquired a 72% stake in Jupiter Realty 1 B.V from SRV Yhtiöt Oyj for €4.3 million. Geomare Investments Limited acquired a 72% stake in Jupiter Realty 1 B.V from SRV Yhtiöt Oyj for €4.3 million on November 18, 2022.Geomare Investments Limited completed the acquisition of a 72% stake in Jupiter Realty 1 B.V from SRV Yhtiöt Oyj on November 18, 2022. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: €0.39 (vs €0.61 loss in 3Q 2021) Third quarter 2022 results: EPS: €0.39 (up from €0.61 loss in 3Q 2021). Revenue: €186.9m (down 2.2% from 3Q 2021). Net income: €5.30m (up €9.30m from 3Q 2021). Profit margin: 2.8% (up from net loss in 3Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 3.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Announcement • Oct 27
SRV Group plc Lowers Revenue Guidance for 2022 SRV Group plc lowers its guidance for revenue for 2022 and specifies its guidance for operative operating profit for 2022. The new guidance for revenue for 2022 is EUR 770 million - EUR 820 million (previously EUR 800 million - EUR 860 million). According to the specified estimate, the operative operating profit will be EUR 17 million - EUR 23 million for 2022 (previously EUR 15 million - EUR 25 million). The weakened revenue outlook is due to market conditions postponing the start of the forecasted projects to a later date than anticipated. Revising operative operating profit is based on the improved view of the result towards the end of the year. Announcement • Sep 22
SRV Yhtiöt Oyj Announces Composition Nomination Board The Shareholders' Nomination Board comprises of four members appointed by the three largest shareholders of SRV Yhtiöt Oyj. The Chairman of the Board of Directors shall act as the fourth member of the Board. The following members have been appointed to the Shareholder's Nomination Board: Ilpo Kokkila, Chairman of the Board of Directors, Pontos Oy, Mikko Mursula, Chief Investment Officer, Ilmarinen Mutual Pension Insurance Company, Vesa Aho, Executive Vice President, OP Financial Group, Tomi Yli-Kyyny, Chairman of the Board of Directors, SRV Group Plc. Announcement • Sep 10
SRV Group plc Announces Change in Management Team SRV Yhtiöt Oyj announced Change in Management Team Timo Nieminen, Executive Vice President, Strategic Project Development, Deputy to CEO at SRV Group Plc, will retire by the end of January 2023. Nieminen has worked in various management positions at SRV since the company was founded in 1987. Reported Earnings • Jul 22
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €211.6m (down 2.9% from 2Q 2021). Net income: €51.3m (up €49.4m from 2Q 2021). Profit margin: 24% (up from 0.9% in 2Q 2021). Over the next year, revenue is expected to shrink by 2.2% compared to a 9.2% growth forecast for the industry in Germany. Announcement • Jun 22
UniInstitutional European Real Estate managed by Union Investment Real Estate GmbH completed the acquisition of Office project in Helsinki's Wood City district from SRV Yhtiöt Oyj (HLSE:SRV1V). UniInstitutional European Real Estate managed by Union Investment Real Estate GmbH have signed an agreement to acquire Office project in Helsinki's Wood City district from SRV Yhtiöt Oyj (HLSE:SRV1V) for €58 million on June 16, 2022. Merilampi Oy acted as legal advisor to Union Investment Real Estate GmbH.
UniInstitutional European Real Estate managed by Union Investment Real Estate GmbH completed the acquisition of Office project in Helsinki's Wood City district from SRV Yhtiöt Oyj (HLSE:SRV1V) on June 16, 2022. Reported Earnings • May 01
First quarter 2022 earnings released: €0.51 loss per share (vs €0.006 profit in 1Q 2021) First quarter 2022 results: €0.51 loss per share (down from €0.006 profit in 1Q 2021). Revenue: €190.7m (up 1.9% from 1Q 2021). Net loss: €133.3m (down €134.8m from profit in 1Q 2021). Over the next year, revenue is expected to shrink by 5.4% compared to a 5.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 04
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: €0.076 loss per share (up from €0.15 loss in FY 2020). Revenue: €932.6m (down 4.4% from FY 2020). Net loss: €19.9m (loss narrowed 25% from FY 2020). Revenue exceeded analyst estimates by 1.9%. Over the next year, revenue is forecast to stay flat compared to a 9.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Announcement • Feb 04
SRV Yhtiöt Oyj Provides Group Earnings Guidance for the Year 2022 SRV Yhtiöt Oyj provided group earnings guidance for the year 2022. Group's revenue for 2022 is expected to amount to EUR 800-950 million (revenue in 2021: EUR 932.6 million). Operative operating profit is expected to improve on 2021 (operative operating profit in 2021: EUR 5.3 million). Breakeven Date Change • Dec 31
Forecast breakeven date pushed back to 2022 The 2 analysts covering SRV Yhtiöt Oyj previously expected the company to break even in 2021. New consensus forecast suggests the company will make a profit of €11.2m in 2022. Average annual earnings growth of 97% is required to achieve expected profit on schedule. Reported Earnings • Oct 30
Third quarter 2021 earnings released: €0.01 loss per share (vs €0.031 loss in 3Q 2020) The company reported a mediocre third quarter result with weaker revenues, although its control over expenses remained stable and losses reduced. Third quarter 2021 results: Revenue: €191.4m (down 8.8% from 3Q 2020). Net loss: €4.00m (loss narrowed 11% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Breakeven Date Change • Sep 23
Forecast to breakeven in 2021 The 2 analysts covering SRV Yhtiöt Oyj expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of €6.55m in 2021. Earnings growth of 79% is required to achieve expected profit on schedule. Executive Departure • Aug 05
Senior Vice President of Housing in the Helsinki Metropolitan Area Kim Jolkkonen has left the company On the 2nd of August, Kim Jolkkonen's tenure as Senior Vice President of Housing in the Helsinki Metropolitan Area ended after 1.6 years in the role. We don't have any record of a personal shareholding under Kim's name. A total of 6 executives have left over the last 12 months. The current median tenure of the management team is 1.58 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Jul 26
Second quarter 2021 earnings released: EPS €0.007 (vs €0.02 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: €218.0m (down 18% from 2Q 2020). Net income: €1.90m (up 90% from 2Q 2020). Profit margin: 0.9% (up from 0.4% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings. Executive Departure • Jul 01
Management Advisor Ilkka Pitkänen has left the company On the 30th of June, Ilkka Pitkänen's tenure as Management Advisor ended after less than a year in the role. As of March 2021, Ilkka still personally held only 40.00k shares (€37k worth at the time). A total of 5 executives have left over the last 12 months. The current median tenure of the management team is 1.42 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • May 01
First quarter 2021 earnings released The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: €188.1m (down 9.6% from 1Q 2020). Net income: €1.50m (up €9.00m from 1Q 2020). Profit margin: 0.8% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. Executive Departure • Apr 02
Independent Director has left the company On the 29th of March, Minna Alitalo's tenure as Independent Director ended after 9.0 years in the role. We don't have any record of a personal shareholding under Minna's name. A total of 5 executives have left over the last 12 months. Executive Departure • Mar 31
Independent Vice Chairman of the Board Olli-Pekka Kallasvuo has left the company On the 29th of March, Olli-Pekka Kallasvuo's tenure in the role of Independent Vice Chairman of the Board ended. As of December 2020, Olli-Pekka personally held 266.66k shares (€154k worth at the time). A total of 4 executives have left over the last 12 months. 
