New Risk • May 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €84.5m (US$98.1m) 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€84.5m market cap, or US$98.1m). Buy Or Sell Opportunity • May 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.5% to €11.10. The fair value is estimated to be €14.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Reported Earnings • May 02
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: €0.01 (up from €0.037 loss in 1Q 2025). Revenue: €65.8m (flat on 1Q 2025). Net income: €46.0k (up €334.0k from 1Q 2025). Profit margin: 0.1% (up from net loss in 1Q 2025). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Declared Dividend • Apr 21
Dividend of €0.36 announced Shareholders will receive a dividend of €0.36. Ex-date: 23rd October 2026 Payment date: 2nd November 2026 Dividend yield will be 6.5%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (83% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 6.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 58% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 10
Consti Oyj Elects Elina Rahkonen as New Member of the Board of Directors Consti Oyj announced that Elina Rahkonen was elected as a new member of the Board of Directors at Annual General Meeting held on 9 April 2026. Announcement • Apr 09
Consti plc Approves Dividend for the Financial Year 2025, Payable on April 20, 2026 and November 2, 2026 Consti Oyj at Annual General Meeting of Consti Plc which was held on 9 April 2026 resolved that a dividend of EUR 0.72 per share for the financial year 2025 shall be paid. The dividend shall be paid in two instalments. The first instalment, EUR 0.36 per share, will be paid to shareholders registered in the Company's shareholders’ register, maintained by Euroclear Finland Ltd, on the record date of the dividend, 13 April 2026. It was resolved that this instalment of the dividend will be paid on 20 April 2026. The second instalment, EUR 0.36 per share, will be paid to shareholders registered in the shareholders’ register maintained by Euroclear Finland Ltd. on the record date of the dividend, which, together with the dividend payment date, shall be decided by the Board of Directors in its meeting scheduled for 22 October 2026. The record date of the dividend would then be 26 October 2026 and the dividend payment date 2 November 2026. Upcoming Dividend • Apr 04
Upcoming dividend of €0.36 per share Eligible shareholders must have bought the stock before 10 April 2026. Payment date: 20 April 2026. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 6.1%. Within top quartile of Finnish dividend payers (5.3%). Higher than average of industry peers (3.0%). Buy Or Sell Opportunity • Apr 01
Now 21% undervalued Over the last 90 days, the stock has risen 10% to €11.75. The fair value is estimated to be €14.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Reported Earnings • Mar 15
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.86 (down from €0.91 in FY 2024). Revenue: €336.2m (up 2.9% from FY 2024). Net income: €6.82m (down 4.5% from FY 2024). Profit margin: 2.0% (down from 2.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Feb 16
Now 20% undervalued Over the last 90 days, the stock has risen 11% to €11.50. The fair value is estimated to be €14.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 13%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Major Estimate Revision • Feb 13
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from €343.7m to €337.0m. EPS estimate also fell from €1.03 per share to €0.89 per share. Net income forecast to grow 2.7% next year vs 14% growth forecast for Construction industry in Finland. Consensus price target of €12.50 unchanged from last update. Share price fell 3.7% to €11.60 over the past week. Declared Dividend • Feb 09
Final dividend of €0.72 announced Shareholders will receive a dividend of €0.72. Ex-date: 10th April 2026 Payment date: 20th April 2026 Dividend yield will be 8.9%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (83% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 6.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.86 (down from €0.91 in FY 2024). Revenue: €336.9m (up 3.1% from FY 2024). Net income: €6.82m (down 4.5% from FY 2024). Profit margin: 2.0% (down from 2.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Price Target Changed • Feb 03
Price target increased by 11% to €12.50 Up from €11.25, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of €12.00. Stock is up 17% over the past year. The company is forecast to post earnings per share of €0.85 for next year compared to €0.91 last year. Announcement • Oct 25
Consti Oyj to Report Fiscal Year 2025 Results on Feb 06, 2026 Consti Oyj announced that they will report fiscal year 2025 results on Feb 06, 2026 Reported Earnings • Oct 24
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: €0.30 (down from €0.31 in 3Q 2024). Revenue: €91.1m (up 5.9% from 3Q 2024). Net income: €2.36m (down 4.2% from 3Q 2024). Profit margin: 2.6% (down from 2.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 1.0% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 17
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 24 October 2025. Payment date: 03 November 2025. Payout ratio and cash payout ratio are on the higher end at 85% and 88% respectively. Trailing yield: 6.7%. Within top quartile of Finnish dividend payers (6.0%). Higher than average of industry peers (3.4%). Reported Earnings • Jul 20
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: €0.23 (down from €0.27 in 2Q 2024). Revenue: €84.9m (up 2.5% from 2Q 2024). Net income: €1.79m (down 16% from 2Q 2024). Profit margin: 2.1% (down from 2.6% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) missed analyst estimates by 8.3%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Apr 27
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: €0.04 loss per share (further deteriorated from €0.005 loss in 1Q 2024). Revenue: €65.7m (flat on 1Q 2024). Net loss: €288.0k (loss widened €252.0k from 1Q 2024). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 2.7% 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 6% per year whereas the company’s share price has increased by 1% per year. Price Target Changed • Apr 25
Price target decreased by 11% to €10.50 Down from €11.75, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €10.20. Stock is up 7.8% over the past year. The company is forecast to post earnings per share of €1.00 for next year compared to €0.91 last year. Declared Dividend • Apr 15
Dividend of €0.35 announced Shareholders will receive a dividend of €0.35. Ex-date: 24th October 2025 Payment date: 3rd November 2025 Dividend yield will be 7.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (160% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €9.38, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 8.5% over the past three years. Upcoming Dividend • Mar 28
Upcoming dividend of €0.35 per share Eligible shareholders must have bought the stock before 04 April 2025. Payment date: 14 April 2025. Payout ratio is on the higher end at 77%, and the cash payout ratio is above 100%. Trailing yield: 6.3%. Within top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (3.8%). Reported Earnings • Mar 16
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: €0.91 (down from €1.17 in FY 2023). Revenue: €326.7m (up 1.9% from FY 2023). Net income: €7.14m (down 21% from FY 2023). Profit margin: 2.2% (down from 2.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 2.8% 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 15% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 21
Final dividend of €0.35 announced Shareholders will receive a dividend of €0.35. Ex-date: 4th April 2025 Payment date: 14th April 2025 Dividend yield will be 6.5%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (161% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: €0.91 (down from €1.17 in FY 2023). Revenue: €327.3m (up 2.1% from FY 2023). Net income: €7.14m (down 21% from FY 2023). Profit margin: 2.2% (down from 2.8% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 4.3%. Revenue is forecast to grow 2.5% 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 15% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 25
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: €0.31 (down from €0.47 in 3Q 2023). Revenue: €86.1m (down 4.2% from 3Q 2023). Net income: €2.47m (down 32% from 3Q 2023). Profit margin: 2.9% (down from 4.0% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 3.2%. Revenue is forecast to grow 3.2% 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 24% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 18
Upcoming dividend of €0.30 per share Eligible shareholders must have bought the stock before 25 October 2024. Payment date: 04 November 2024. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Finnish dividend payers (6.2%). Higher than average of industry peers (3.7%). Announcement • Sep 30
Consti Oyj, Annual General Meeting, Apr 03, 2025 Consti Oyj, Annual General Meeting, Apr 03, 2025. Location: helsinki Finland Announcement • Aug 14
Consti Oyj Announces Management Changes Consti Oyj announced that Pirkka Lähteinen, has been appointed as Business Area Director of Corporations. Lähteinen has worked as Regional Director of Corporations since 2019, and as a member of Consti Group’s Management Team since 2009. Pirkka Lähteinen will assume his position on 1 September 2024 and he will report to Esa Korkeela, CEO of Consti Group. Jukka Mäkinen, the acting Business Area Director of Corporations, has announced his retirement by the end of November 2024. Mäkinen's membership in Consti Group's Management Team will end on 31 August 2024, after which he will act as an advisor at Consti until his retirement. Reported Earnings • Jul 22
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: €0.27 (down from €0.28 in 2Q 2023). Revenue: €82.9m (up 9.4% from 2Q 2023). Net income: €2.14m (down 2.9% from 2Q 2023). Profit margin: 2.6% (down from 2.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Jul 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Market cap is less than US$100m (€78.6m market cap, or US$84.5m). Price Target Changed • Apr 29
Price target decreased by 9.8% to €11.50 Down from €12.75, the current price target is an average from 2 analysts. New target price is 21% above last closing price of €9.48. Stock is down 16% over the past year. The company is forecast to post earnings per share of €0.94 for next year compared to €1.17 last year. Reported Earnings • Apr 28
First quarter 2024 earnings released: €0.005 loss per share (vs €0.04 profit in 1Q 2023) First quarter 2024 results: €0.005 loss per share (down from €0.04 profit in 1Q 2023). Revenue: €65.5m (down 4.9% from 1Q 2023). Net loss: €36.0k (down 112% from profit in 1Q 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 26
Price target decreased by 9.3% to €12.25 Down from €13.50, the current price target is an average from 2 analysts. New target price is 29% above last closing price of €9.46. Stock is down 16% over the past year. The company is forecast to post earnings per share of €1.01 for next year compared to €1.17 last year. Announcement • Apr 26
Consti plc Appoints Anders Löfman as CFO, Effective 10 July 2024 Consti Plc announced that Anders Löfman (born 1987), M.Sc. (econ.), has been appointed as CFO of Consti Plc and a member of the Group Management Team. Löfman has worked as Group Business Controller of Consti Plc since August 2021. Anders Löfman will assume his position on 10 July 2024 at the latest and he will report to Esa Korkeela, CEO of Consti Group. Announcement • Apr 10
Consti Oyj Announces Resignation of Joni Sorsanen as CFO, Effective July 2024 Joni Sorsanen, Consti Group’s CFO and member of the Group Management Team, has resigned and is moving to a new position outside the company. Sorsanen will leave his position and Consti’s Group Management Team in July 2024. Sorsanen has worked at Consti since 2018. The recruitment process for a new CFO has been launched. Announcement • Apr 03
Consti Oyj Announces Board Appointments Consti Oyj announced that elected Petri Rignell as the Chairman of the Board. Other board members are Erkki Norvio, Anne Westersund, Johan Westermarck, Juhani Pitkäkoski and Katja Pussinen. The Board of Directors appointed Erkki Norvio, Juhani Pitkäkoski and Petri Rignell as members of the Nomination and Remuneration Committee. The Board of Directors has not established other committees. Upcoming Dividend • Mar 28
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 04 April 2024. Payment date: 12 April 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 6.6%. Within top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (3.9%). Reported Earnings • Mar 14
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: €1.17 (up from €1.10 in FY 2022). Revenue: €320.6m (up 5.0% from FY 2022). Net income: €9.01m (up 6.2% from FY 2022). Profit margin: 2.8% (in line with FY 2022). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 5.9%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. New Risk • Mar 13
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (€79.5m market cap, or US$87.1m). Declared Dividend • Mar 07
Dividend of €0.40 announced Shareholders will receive a dividend of €0.40. Ex-date: 4th April 2024 Payment date: 12th April 2024 Dividend yield will be 4.0%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 7.6% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • Feb 09
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €329.6m to €312.8m. EPS estimate also fell from €1.26 per share to €1.01 per share. Net income forecast to shrink 14% next year vs 9.3% growth forecast for Construction industry in Finland . Consensus price target down from €13.50 to €12.75. Share price fell 10% to €10.30 over the past week. Price Target Changed • Feb 05
Price target decreased by 8.3% to €12.75 Down from €13.90, the current price target is an average from 2 analysts. New target price is 19% above last closing price of €10.75. Stock is down 13% over the past year. The company is forecast to post earnings per share of €1.01 for next year compared to €1.17 last year. Reported Earnings • Feb 04
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: €1.17 (up from €1.10 in FY 2022). Revenue: €320.6m (up 5.0% from FY 2022). Net income: €9.01m (up 6.2% from FY 2022). Profit margin: 2.8% (in line with FY 2022). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 5.9%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jan 08
Consti plc Announces Appointment of Aija Harju as HR Director of Company and Member of the Group Management Team, Effective on February 2, 2024 Consti Plc announced that Aija Harju (born 1969, M.Ed.) has been appointed as HR Director of company and a member of the Group Management Team. In 2022–2023, Harju acted as Senior Vice President, Human Resources of BoKlok Business Unit and before that as HR Business Partner at Skanska Oy in 2009-2021. Aija Harju will assume her position on 2 February 2024 and she will report to Esa Korkeela, CEO of Consti Group. Announcement • Nov 09
Turo Turja to Leave Consti Oyj as HR Director and Member of the Group Management, Effective 31 January 2024 Turo Turja, Consti’s HR Director, has stated that he will leave the company and move on to another position outside the company. Turja has acted as HR Director and a member of the Group Management Team since 2018. Turja will leave his current position by 31 January 2024 at the latest. His membership in the Group Management Team ends on 8 November 2023. As a result of the change Consti Group’s Management Team consists of the following members: Esa Korkeela, CEO; Joni Sorsanen, CFO; Risto Kivi, Business Area Director Housing Companies; Jukka Mäkinen, Business Area Director Corporations; Jukka Kylliö, Business Area Director Public Sector; Jaakko Taivalkoski, Business Area Director Building Technology; Pirkka Lähteinen, Regional Director Corporations and Heikki Untamala, Chief Legal Officer. Major Estimate Revision • Nov 03
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €320.0m to €329.9m. EPS estimate increased from €1.12 to €1.26 per share. Net income forecast to shrink 1.2% next year vs 10% growth forecast for Construction industry in Finland . Consensus price target down from €13.90 to €13.40. Share price fell 2.4% to €10.10 over the past week. Reported Earnings • Oct 28
Third quarter 2023 earnings released: EPS: €0.47 (vs €0.32 in 3Q 2022) Third quarter 2023 results: EPS: €0.47 (up from €0.32 in 3Q 2022). Revenue: €91.1m (up 15% from 3Q 2022). Net income: €3.63m (up 46% from 3Q 2022). Profit margin: 4.0% (up from 3.1% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 21
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: €0.28 (up from €0.28 in 2Q 2022). Revenue: €75.7m (up 3.6% from 2Q 2022). Net income: €2.20m (up 2.3% from 2Q 2022). Profit margin: 2.9% (in line with 2Q 2022). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates by 8.5%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 29
Upcoming dividend of €0.60 per share at 5.4% yield Eligible shareholders must have bought the stock before 05 April 2023. Payment date: 17 April 2023. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of Finnish dividend payers (5.1%). Higher than average of industry peers (3.9%). Reported Earnings • Mar 17
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: €1.10 (up from €0.47 in FY 2021). Revenue: €305.2m (up 5.7% from FY 2021). Net income: €8.49m (up 133% from FY 2021). Profit margin: 2.8% (up from 1.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 10
Price target increased by 14% to €13.67 Up from €12.00, the current price target is an average from 3 analysts. New target price is 11% above last closing price of €12.30. Stock is down 0.8% over the past year. The company is forecast to post earnings per share of €1.13 for next year compared to €1.10 last year. Reported Earnings • Feb 05
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: €1.10 (up from €0.47 in FY 2021). Revenue: €305.2m (up 5.7% from FY 2021). Net income: €8.49m (up 133% from FY 2021). Profit margin: 2.8% (up from 1.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Construction industry in Finland. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Nov 30
Consti Oyj Announces Resignation of Heikki Pesu as Business Area Director of Building Technology and as A Member of the Group Management Team Consti Oyj announced that Heikki Pesu, Business Area Director of Building Technology, has resigned. Pesu has acted as a member of the Group Management Team since 2021. Pesu will continue in his current position until 29 March 2023, at the latest. Reported Earnings • Oct 27
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: €0.32 (up from €0.29 in 3Q 2021). Revenue: €79.1m (up 4.1% from 3Q 2021). Net income: €2.49m (up 11% from 3Q 2021). Profit margin: 3.1% (up from 2.9% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.1%. Revenue is forecast to stay flat during the next 3 years compared to a 3.4% growth forecast for the Construction industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 25
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: €0.28 (up from €0.094 loss in 2Q 2021). Revenue: €73.1m (up 3.1% from 2Q 2021). Net income: €2.15m (up €2.88m from 2Q 2021). Profit margin: 2.9% (up from net loss in 2Q 2021). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 12%. Over the next year, revenue is forecast to grow 5.0%, compared to a 3.2% growth forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Jul 22
Consti Oyj Provides Earnings Guidance for the Year 2022 Consti Oyj provided earnings guidance for the year 2022. For the year, the company estimates that its operating result for 2022 will be in the range of EUR 9-13 million. Price Target Changed • May 13
Price target decreased to €12.25 Down from €14.00, the current price target is an average from 4 analysts. New target price is 26% above last closing price of €9.74. Stock is down 23% over the past year. The company is forecast to post earnings per share of €0.94 for next year compared to €0.47 last year. Reported Earnings • May 01
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: €0.01 (up from €0.011 loss in 1Q 2021). Revenue: €59.9m (up 1.1% from 1Q 2021). Net income: €111.0k (up €196.0k from 1Q 2021). Profit margin: 0.2% (up from net loss in 1Q 2021). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) exceeded analyst estimates by 200%. Over the next year, revenue is forecast to grow 9.0% compared to a 5.3% decline forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Apr 21
Consti plc Announces Change in Management Team Markku Kalevo has acted as Bid and Sales Director for Housing Companies Business Area and as a member of the Group Management Team since 2009. Consti Plc and Kalevo have jointly agreed that he will leave his position as Management Team member on 29 April 2022. Kalevo will continue to work for the Group until 13 June 2022. As a result of the change, Consti Group’s Management Team includes the following people in addition to CEO Esa Korkeela: Joni Sorsanen, CFO; Risto Kivi, Business Area Director Housing Companies; Jukka Mäkinen, Business Area Director Corporations; Jukka Kylliö, Business Area Director Public Sector; Heikki Pesu, Business Area Director Building Technology; Pirkka Lähteinen, Regional Director Corporations; Heikki Untamala, Chief Legal Officer; and Turo Turja, HR Director. Upcoming Dividend • Mar 30
Upcoming dividend of €0.45 per share Eligible shareholders must have bought the stock before 06 April 2022. Payment date: 14 April 2022. Payout ratio and cash payout ratio are on the higher end at 95% and 93% respectively. Trailing yield: 3.9%. Lower than top quartile of Finnish dividend payers (4.4%). In line with average of industry peers (3.8%). Reported Earnings • Mar 17
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: €0.47 (down from €0.70 in FY 2020). Revenue: €288.8m (up 5.1% from FY 2020). Net income: €3.65m (down 32% from FY 2020). Profit margin: 1.3% (down from 2.0% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 7.9% compared to a 1.8% decline forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.