Announcement • Apr 23
Teleste Oyj Approves Total Dividend for the Financial Year Ended 31 December 2025, Payable on 7 July 2026 and 7 January 2027 Teleste Oyj at its Annual General Meeting, held on 22 April 2026, resolved in accordance with the proposal of the Board of Directors that, based on the adopted balance sheet, a dividend of EUR 0.08 per share shall be paid for the financial period that ended on 31 December 2025, for shares other than those held by the Company. The dividend is paid in two instalments. The first instalment of the dividend, EUR 0.05 per share, shall be paid to a shareholder who is registered in the company's shareholder register maintained by Euroclear Finland Oy on the record date of the first dividend instalment, 30 June 2026. The dividend shall be paid on 7 July 2026. The second instalment of the dividend, EUR 0.03 per share, shall be paid to a shareholder who is registered in the company's shareholder register maintained by Euroclear Finland Oy on the record date of the second dividend instalment, 30 December 2026. The dividend shall be paid on 7 January 2027. Declared Dividend • Mar 15
Dividend increased to €0.05 Dividend of €0.05 is 67% higher than last year. Ex-date: 29th June 2026 Payment date: 7th July 2026 Dividend yield will be 1.4%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 78% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 16
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: €0.15 (up from €0.32 loss in FY 2024). Revenue: €138.6m (up 4.6% from FY 2024). Net income: €2.78m (up €8.63m from FY 2024). Profit margin: 2.0% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.1%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: €0.07 (up from €0.035 in 3Q 2024). Revenue: €34.6m (up 16% from 3Q 2024). Net income: €1.29m (up 100% from 3Q 2024). Profit margin: 3.7% (up from 2.2% in 3Q 2024). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Nov 06
Teleste Corporation Specifies Earnings Guidance for the Year 2025 Teleste Corporation specified earnings guidance for the year 2025. For the year, the company estimates revenue to be between EUR 135 million and EUR 150 million. Earlier Teleste estimated revenue for 2025 to be between EUR 135 million and EUR 150 million. The company anticipates that profit for the period will be toward the upper end of the guidance range. Announcement • Oct 10
Teleste Oyj, Annual General Meeting, Apr 22, 2026 Teleste Oyj, Annual General Meeting, Apr 22, 2026. Announcement • Oct 02
Teleste Oyj Announces Composition of Teleste's Shareholders' Nomination Board Teleste Oyj announced Composition of Teleste's Shareholders' Nomination Board. The following members have been appointed to Teleste's Shareholders' Nomination Board: Chairman of the Board of Directors, Timo Luukkainen, Tianta Oy (Chair), Director Patrick Lapveteläinen, Mandatum Life Insurance Company Limited, and Director Esko Torsti, Ilmarinen Mutual Pension Insurance Company. According to the Charter of the Shareholders' Nomination Board approved by the Annual General Meeting 2020, the members of the Shareholders' Nomination Board represent the company's three largest shareholders. New Risk • Aug 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Finnish stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (€68.6m market cap, or US$79.9m). Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2025 results: EPS: €0.02 (up from €0.059 loss in 2Q 2024). Revenue: €36.0m (up 22% from 2Q 2024). Net income: €411.0k (up €1.48m from 2Q 2024). Profit margin: 1.1% (up from net loss in 2Q 2024). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jun 21
Upcoming dividend of €0.03 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 07 July 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.0%. Lower than top quartile of Finnish dividend payers (6.1%). Lower than average of industry peers (3.3%). Announcement • May 20
Teleste Launches Luminato X32: Compact Edge QAM Solution for Cost-Effective TV Delivery Teleste announced to launch the Luminato X32, a compact, high-performance Edge QAM solution designed to simplify and optimize TV signal distribution across a variety of operational scenarios. Engineered for superior reliability and quality of service, the X32 delivers robust performance suitable for both demanding, high-end applications and cost-effective deployments. Its versatile design supports deployment in unmanned indoor facilities, network edge locations, and Multi-Dwelling Unit basements--enabling operators to efficiently deliver modern broadcast TV services without compromising quality, scalability, or ease of management. The Luminato X32 efficiently supports high-quality broadcast TV delivery in diverse network architectures. It delivers exceptional performance whether modernizing legacy RF overlay systems, complementing PON deployments by distributing broadcast signals over coaxial cable within buildings, or integrating seamlessly into deep fiber HFC networks. Converting IP streams into high-quality QAM signals at points where fiber meets coax, the X32 eliminates the need for IP set-top boxes while enabling operators to benefit from its advanced operational capabilities. The X32 key highlights include: Edge-Optimized Performance - Delivers robust, carrier-grade broadcast quality with 32 independent QAM channels. Seamless Network Integration - Works effortlessly with PON and HFC architectures and enables video delivery without set-top boxes. Reduced operational costs - Features passive cooling for silent operation and remote management for reduced maintenance workload. Compact & Adaptable - Wall or rack-mountable form factor supports a wide variety of installation environments. Agile & Reliable Deliveries - Backed by Teleste's manufacturing facilities in Finland, ensuring dependable and timely product availability. Enhanced Flexibility & Simplified Management: The Luminato X32 is built for maximum operational flexibility, supporting centralized management, a wide range of configuration options, and real-time monitoring via Teleste's Argus Luminato Manager. These capabilities enable operators to efficiently manage both individual units and large-scale deployments remotely--simplifying daily tasks and guaranteeing excellent service uptime. Reported Earnings • May 07
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: €0.03 (up from €0.023 loss in 1Q 2024). Revenue: €32.5m (down 11% from 1Q 2024). Net income: €639.0k (up €1.06m from 1Q 2024). Profit margin: 2.0% (up from net loss in 1Q 2024). Revenue missed analyst estimates by 7.3%. Earnings per share (EPS) exceeded analyst estimates by 50%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • May 07
Teleste Oyj Provides Unchanged Earnings Guidance for the Year 2025 Teleste Oyj provided unchanged earnings guidance for the year 2025. For the year, company estimated revenue to be between 135 and 150 million euros. The result is expected to be primarily realized in the second half of the year. Upcoming Dividend • Apr 17
Upcoming dividend of €0.03 per share Eligible shareholders must have bought the stock before 24 April 2025. Payment date: 05 May 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Finnish dividend payers (6.3%). Lower than average of industry peers (3.3%). Reported Earnings • Apr 03
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: €0.32 loss per share (further deteriorated from €0.004 loss in FY 2023). Revenue: €132.5m (down 12% from FY 2023). Net loss: €5.85m (loss widened €5.77m from FY 2023). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Communications industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Announcement • Feb 25
Teleste Oyj announces Annual dividend, payable on May 05, 2025 Teleste Oyj announced Annual dividend of EUR 0.0300 per share payable on May 05, 2025, ex-date on April 24, 2025 and record date on April 25, 2025. Reported Earnings • Feb 12
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: €0.32 loss per share (further deteriorated from €0.004 loss in FY 2023). Revenue: €133.1m (down 12% from FY 2023). Net loss: €5.85m (loss widened €5.77m from FY 2023). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates significantly. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Announcement • Feb 12
Teleste Oyj Proposes Dividend for the Financial Period Ended on 31 December 2024 The board of directors of Teleste Oyj proposed to the annual general meeting that a dividend of EUR 0.03 per share (0.00) be distributed on outstanding shares for the financial period that ended on 31 December 2024. Announcement • Feb 11
Teleste Oyj Provides Earnings Guidance for the Year 2025 Teleste Oyj provided earnings guidance for the year 2025. The company estimates revenue for 2025 to be between EUR 135 million and EUR 150 million. Announcement • Dec 10
Teleste Unveils Cutting-Edge Display Unit Controller to Elevate Information Display Capabilities for Transit Operators Teleste introduced a new display unit controller that significantly enhances the capabilities of the company's range of RGB LED and TFT LCD information displays. This innovative technology delivers enhanced performance, strengthened cybersecurity, and optimized operational efficiency, meeting the evolving demands of transit operators worldwide. As a trusted provider of a comprehensive range of stationary and onboard information displays, Teleste continues to shape the mobility sector through innovation. The new display controller, powered by the Intel Atom (formerly Amston LakeTM) x7433RE Processor and integrated with Teleste's advanced diagnostics unit, introduces several key features designed to transform the passenger information experience: Increased performance and memory capacity, supporting the delivery of more dynamic visuals on the displays, even when the time comes to step into 4K resolution videos. In addition, multiple independent graphics output allow, for example, to separately control both sides of a 2-sided display. This capability allows transit operators to deliver richer, more engaging visuals to passengers, enhancing the overall travel experience. Advanced remote diagnostic capabilities to ensure optimal display performance and enable preventative maintenance operations. This results in reduced service downtime and a seamless, reliable experience for passengers. Streamlined single-board design for increasingly robust operation in challenging environments like public transport vehicles, stations and platforms. Minimizing the need for hardware components and increasing energy-efficiency, the design provides transit operators also with lower maintenance and operational costs. Strengthened cybersecurity enabled by integration with Trusted Platform Module (TPM) 2.0 that supports cryptographic and security features. These measures safeguard passenger information systems against evolving digital threats, ensuring the integrity of operators' networks and protecting data from unauthorized access. The new display unit controller will come as a standard feature in all new passenger information displays delivered by Teleste, ensuring customers benefit from the latest technological advancements without the need for additional upgrades. New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Finnish stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks High level of debt (44% net debt to equity). Share price has been volatile over the past 3 months (6.0% average weekly change). Market cap is less than US$100m (€53.8m market cap, or US$56.4m). Announcement • Dec 02
Teleste Corporation Appoints Ulf Andersson as EVP & GM of the Broadband Networks Business Unit and A Member of the Leadership Team, Effective from January 1, 2025 Teleste Corporation strengthens its leadership and strategic focus on North America. Ulf Andersson has been appointed as EVP & GM of the Broadband Networks business unit and a member of the Leadership Team. Ulf will assume the responsibility for global management of the Broadband Networks business unit effective January 1, 2025. Ulf will be based in the USA. Leading the business unit from North America supports the strategic expansion and increased momentum towards that market. Ulf has a long career in the telecommunications industry, both in sales and customer engagement, as well as in comprehensive business management. He has strong experience in creating and implementing strategy, as well as product management and R&D. Prior to joining Teleste, Ulf was CEO of Falcon V Systems and CRO of MobiledgeX, a Silicon Valley startup. Before that, Ulf had a long executive career in Ericsson. The current business unit lead, Hanno Narjus, will continue with the company in a new role as Senior Fellow, Industry Relations. In this new thought leadership role, Hanno will participate in developing industry relations for the Broadband Networks business, as well as creating technology and ecosystem strategy. His responsibilities also include global market analysis, to help Teleste to continue to be a leader in the rapidly changing market environment. New Risk • Nov 10
New major risk - Revenue and earnings growth Earnings have declined by 44% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks High level of debt (44% net debt to equity). Market cap is less than US$100m (€39.8m market cap, or US$42.6m). Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: €0.04 (vs €0.025 in 3Q 2023) Third quarter 2024 results: EPS: €0.04 (up from €0.025 in 3Q 2023). Revenue: €30.1m (down 15% from 3Q 2023). Net income: €643.0k (up 41% from 3Q 2023). Profit margin: 2.1% (up from 1.3% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Communications industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Announcement • Oct 18
Teleste Oyj, Annual General Meeting, Apr 23, 2025 Teleste Oyj, Annual General Meeting, Apr 23, 2025. Announcement • Sep 16
Teleste Oyj Revises Earnings Guidance for the Financial Year 2024 Teleste Oyj revised earnings guidance for the financial year 2024. For the year, the company estimates net sales to be between EUR 120 million to EUR 135 million compared to previous guidance of EUR 140 million to EUR 150 million. The main reason for the updated guidance is the continued lower-than-expected demand in the European market for the Broadband Networks business. North American delivery volumes have started to grow, but they will not fully compensate for the volume outlook in Europe. There is also still uncertainty regarding the timing of deliveries and projects for the rest of the year. Announcement • Sep 03
Teleste and ITESMEDIA Introduce Teleste Hub Teleste announced the launch of its new central software for content management, Teleste Hub. Specifically tailored for the public transportation industry, Teleste Hub is set to redefine how transit operators manage, distribute, and display content across their networks. Developed in partnership with ITESMEDIA, a trusted and proven Teleste partner, the Teleste Hub software is specifically designed to address the unique needs of public transportation operators. It allows operators to manage real-time information, advertisements, and entertainment content across multiple vehicles and stations. Additionally, the software provides a user-friendly interface for daily operations. The Teleste Hub software is designed to serve both Teleste's existing public transport operator clients and those who are not yet part of the Teleste family. Key Features of Teleste Hub: Centralized Control: Operators can manage all digital displays, from onboard screens to station monitors, through a single platform, ensuring consistency and efficiency. Multimedia Content and Integration: Teleste Hub supports various input sources such as television feeds, live camera streams, and other multimedia content. A variety of supported formats guarantees that transport operators can provide engaging and informative content across all platforms and devices. Increased Revenue Opportunities: Displaying multimedia content, including advertisements, creates new revenue streams for transport operators, enabling them to more effectively monetize their passenger information systems. Hardware Independence: Teleste Hub is compatible with a wide range of devices and platforms, allowing operators the flexibility to integrate it with existing hardware infrastructure without the need for costly upgrades. The seamless integration with all common display technologies ensures that consistent, accurate information is reliably conveyed across all selected devices. User-Friendly Interface: The intuitive design of Teleste Hub makes it easy for operators to manage content without extensive training thanks to the layout editor and widgets, reducing the learning curve and improving operational efficiency. Seamless Data Integration: The robust data integration options, enabling efficient data consolidation and management. Advanced Security Features: Two-factor authentication, along with compliance with ISO 27001, ISO 27018, SOC 1, SOC 2, and SOC 3 certifications, ensures that the system and data are well-protected against cyber threats. Teleste solutions provide a robust foundation for a future-proof public transport ecosystem, enhancing operational efficiency for transit operators and allowing passengers to enjoy reliable, real-time travel information on every step of their journey. Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: €0.06 loss per share (further deteriorated from €0.006 loss in 2Q 2023). Revenue: €29.8m (down 26% from 2Q 2023). Net loss: €1.07m (loss widened €954.0k from 2Q 2023). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Communications industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • Aug 14
Teleste Oyj Revises Earnings Guidance for 2024 Teleste Oyj revised earnings guidance for 2024. For the period, the company estimated that net sales in 2024 will amount to EUR 140 million to EUR 150 million. Previously, the company estimated that net sales in 2024 will amount to EUR 140 million to EUR 165 million. Announcement • Jul 12
Teleste Corporation Appoints Mervi Kerkelä-Hiltunen as Chief Financial Officer, Effective October 2024 Teleste Corporation announced the appointment of Mervi Kerkelä-Hiltunen (MSc. Econ) as the company's new Chief Financial Officer, effective October 2024. In her new role, she will also join Teleste's management team. Mervi Kerkelä-Hiltunen has over 25 years of diverse experience in financial management within international business across various industries. In her previous roles, she has developed strong expertise in advancing comprehensive financial operations and driving organizational change. Prior to joining Teleste, she served as the CFO of QPR Software Plc. Announcement • Jun 05
Teleste Oyj Announces CFO Changes Teleste´s CFO and member of the management team Juha Hyytiäinen has decided to leave Teleste Corporation for new responsibilities at another company. Mr. Hyytiäinen will continue in his position and as a member of Teleste's management team until the end of August to ensure a smooth transition and transfer of duties. The recruitment process for the new CFO has started. In addition, from mid-August, Mr. Tomi Närhinen M.Sc. (Econ) from outside the company will assume the role of acting CFO until the new permanent CFO joins the company. Reported Earnings • May 06
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: €0.023 loss per share (down from €0.13 profit in 1Q 2023). Revenue: €36.6m (down 19% from 1Q 2023). Net loss: €425.0k (down 118% from profit in 1Q 2023). Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) missed analyst estimates by 100%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Communications industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • May 03
Teleste Corporation Reaffirms Financial Guidance for the Year 2024 Teleste Corporation reaffirmed financial guidance for the year 2024. The company estimates that net sales in 2024 will amount to EUR 140-165 million. Reported Earnings • Mar 18
Full year 2023 earnings released: €0.004 loss per share (vs €0.31 loss in FY 2022) Full year 2023 results: €0.004 loss per share (improved from €0.31 loss in FY 2022). Revenue: €151.3m (down 8.3% from FY 2022). Net loss: €82.0k (loss narrowed 99% from FY 2022). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Communications industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Announcement • Mar 06
Teleste Oyj Announces Heikki Mäkijärvi Will No Longer Continue as A Board Member Teleste Oyj announced that Current board member Heikki Mäkijärvi will no longer continue as a board member. Major Estimate Revision • Feb 13
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €150.1m to €152.0m. EPS estimate fell from €0.13 to €0.11 per share. Net income forecast to shrink 22% next year vs 40% growth forecast for Communications industry in Finland . Consensus price target of €2.60 unchanged from last update. Share price rose 2.6% to €2.80 over the past week. Announcement • Feb 09
Teleste Oyj Provides Earnings Guidance for the Year 2024 Teleste Oyj provided earnings guidance for the year 2024. The company estimates that net sales in 2024 will amount to EUR 140 million - EUR 165 million and that the adjusted operating result in 2024 will be EUR 3 million - EUR 6 million. Major Estimate Revision • Jan 18
Consensus EPS estimates fall by 56% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €156.4m to €149.3m. EPS estimate also fell from €0.18 per share to €0.08 per share. Net income forecast to shrink 13% next year vs 27% decline forecast for Communications industry in Finland. Consensus price target down from €3.00 to €2.60. Share price fell 2.9% to €2.70 over the past week. Announcement • Dec 15
Teleste Oyj Provides Earnings Guidance for the Year 2023 Teleste Oyj provided earnings guidance for the year 2023. The company estimates that the net sales in 2023 will amount to EUR 145 million to EUR 152 million. Price Target Changed • Nov 10
Price target decreased by 27% to €3.00 Down from €4.10, the current price target is provided by 1 analyst. New target price is 12% above last closing price of €2.69. Stock is down 24% over the past year. The company is forecast to post earnings per share of €0.18 next year compared to a net loss per share of €0.31 last year. New Risk • Nov 05
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (€52.2m market cap, or US$55.9m). Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: €0.03 (vs €0.23 loss in 3Q 2022) Third quarter 2023 results: EPS: €0.03 (up from €0.23 loss in 3Q 2022). Revenue: €35.3m (down 17% from 3Q 2022). Net income: €457.0k (up €4.56m from 3Q 2022). Profit margin: 1.3% (up from net loss in 3Q 2022). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Communications industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • Nov 02
Teleste Oyj Provides Earnings Guidance for the Full Year 2023 Teleste Oyj provided earnings guidance for the full year 2023. For the year, the company expected net sales to be in the range of $150 million to $160 million. New Risk • Oct 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Finnish stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Market cap is less than US$100m (€59.1m market cap, or US$62.2m). Announcement • Sep 07
Teleste Corporation Establishes Personnel and Remuneration Committee Teleste Corporation has decided to establish a Personnel and Remuneration Committee to assist the Board of Directors in matters pertaining to the personnel and remuneration. The Board of Directors of Teleste Corporation elected Timo Luukkainen as Chairman and Heikki Mäkijärvi and Kai Telanne as members of the Personnel and Remuneration Committee. The purpose of the Committee is to contribute to the development and allocation of Teleste's strategically important capabilities and human resources and to provide the Board of Directors with relevant information on the current state of the employees and future objectives. The Personnel and Remuneration Committee does not have an independent decision-making power, but it is a preparatory body. The Board of Directors makes the decisions within its competence collectively. Reported Earnings • Aug 11
Second quarter 2023 earnings released: €0.01 loss per share (vs €0.08 loss in 2Q 2022) Second quarter 2023 results: €0.01 loss per share (improved from €0.08 loss in 2Q 2022). Revenue: €40.7m (up 6.1% from 2Q 2022). Net loss: €114.0k (loss narrowed 92% from 2Q 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Communications industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Announcement • Aug 10
Teleste Corporation Provides Earnings Guidance for the Year 2023 Teleste Corporation provided earnings guidance for the year 2023 . For the year, company estimates net sales will amount to EUR 150 Million- EUR 175 Million . Announcement • Jul 01
Teleste Appoints Joe Godas to Advisory Board Teleste announced that Joe Godas (former Charter Communications Senior Vice President Network Engineering & Technology) has joined the company's Advisory Board for the North American cable broadband market, which aims to support Teleste in expanding market opportunities for cable access networks. The other members of the Advisory Board are Hanno Narjus (Chair of the Board, SVP of Teleste Networks), Esa Harju (President and CEO of Teleste), Stephanie Mitchko Beale (former CTO, Charter Communications) and Neil Tang (President, Antronix). Announcement • Jun 09
Teleste Appoints Linda Kallas as Senior Vice President, Group Strategy Teleste announced the appointment of Linda Kallas (M.Sc., Eng.) as the company's Senior Vice President, Group Strategy. She started in her role and joined the company's Management Group on 1 June 2023. The aim of the new role of Senior Vice President, Group Strategy is to strengthen and develop the company's long-term strategy work and communicate Teleste's objectives even more clearly to stakeholders. Buying Opportunity • May 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be €4.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • May 05
First quarter 2023 earnings released: EPS: €0.13 (vs €0.007 in 1Q 2022) First quarter 2023 results: EPS: €0.13 (up from €0.007 in 1Q 2022). Revenue: €45.4m (up 20% from 1Q 2022). Net income: €2.32m (up €2.19m from 1Q 2022). Profit margin: 5.1% (up from 0.3% in 1Q 2022). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Communications industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • May 05
Teleste Corporation Provides Sales Guidance for 2023 Teleste Corporation provides sales guidance for 2023. The company estimates that net sales in 2023 will amount to EUR 150-175 million. Buying Opportunity • Apr 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €4.53, 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. Meanwhile, the company became loss making. Reported Earnings • Mar 18
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: €0.31 loss per share (down from €0.39 profit in FY 2021). Revenue: €165.0m (up 15% from FY 2021). Net loss: €5.67m (down 180% from profit in FY 2021). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Buying Opportunity • Mar 06
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 6.5%. The fair value is estimated to be €4.70, 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. Meanwhile, the company became loss making. Reported Earnings • Feb 10
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: €0.31 loss per share (down from €0.39 profit in FY 2021). Revenue: €165.0m (up 15% from FY 2021). Net loss: €5.67m (down 180% from profit in FY 2021). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 5.0% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Buying Opportunity • Feb 09
Now 21% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be €5.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company became loss making. Board Change • Feb 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 4 experienced directors. 1 highly experienced director. Independent Director Kai Telanne is the most experienced director on the board, commencing their role in 2008. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Feb 01
Teleste Announces Formation of Advisory Board for the North American Market Teleste announced the formation of an Advisory Board, bringing together experienced business leaders in the cable and telecommunications industries. The advisors will bring their collective knowledge and experience to provide guidance and insights on the North American cable market for Teleste's continued growth as an access network infrastructure leader. With the migration of DOCSIS 4.0, Teleste is leading the growth to 10G with the award-winning ICON product family including 1.8 GHz amplifiers and Distributed Access solutions. Teleste has some of the most influential and respected executives joining the Advisory Board. Chaired by Hanno Narjus, SVP of Teleste Networks, and including Esa Harju (President and CEO of Teleste), Sandy Howe (former executive with Arris, Cisco and Technetix), Stephanie Mitchko Beale (former CTO, Charter Communications) and Neil Tang (President, Antronix). Teleste's goal is to enable the cable operators to transition the access network quickly to 10G and maintain their leadership in broadband. The advisory board offers a unique understanding on business, operations and product value required by Teleste's customers to grow their business. Reported Earnings • Nov 04
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: €0.22 loss per share (down from €0.10 profit in 3Q 2021). Revenue: €42.8m (up 33% from 3Q 2021). Net loss: €4.10m (down 316% from profit in 3Q 2021). Revenue exceeded analyst estimates by 32%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Communications industry in Europe. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 14
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: €0.08 loss per share (down from €0.04 profit in 2Q 2021). Revenue: €38.4m (up 7.2% from 2Q 2021). Net loss: €1.44m (down 280% from profit in 2Q 2021). Revenue exceeded analyst estimates by 6.3%. Earnings per share (EPS) missed analyst estimates by 167%. Over the next year, revenue is forecast to grow 3.0%, compared to a 8.5% growth forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jun 22
Consensus EPS estimates fall by 75% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €152.0m to €145.0m. EPS estimate also fell from €0.24 per share to €0.06 per share. Net income forecast to shrink 42% next year vs 10% growth forecast for Communications industry in Finland . Consensus price target down from €4.30 to €3.90. Share price fell 17% to €4.01 over the past week. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €4.01, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 17x in the Communications industry in Europe. Total loss to shareholders of 23% over the past three years. Reported Earnings • May 06
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: €0.01 (down from €0.21 in 1Q 2021). Revenue: €38.1m (up 2.8% from 1Q 2021). Net income: €128.0k (down 97% from 1Q 2021). Profit margin: 0.3% (down from 10% in 1Q 2021). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 67%. Over the next year, revenue is forecast to grow 10%, compared to a 7.0% growth forecast for the industry in Finland. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. 
